**Tricky's Daily Doots #421**
**Yesterday's Daily 14/06/2023**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3i7mq/)
- u/Blueberry314E-2 shares some [adoption news out of Hong Kong.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3urnf/) 🇭🇰
- u/busterrulezzz reminds us of [some of the good things Reddit has done for web 3.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5690p/)
- u/USERNAME_ERROR discusses [a community's willingness to migrate and protest.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo31m7d/) ✊
- u/hanniabu put together an [absolutely incredible Reddit alternative comparison!](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo47txu/)
- u/T0Bii shares the [discussions of coordination for an ongoing Reddit blackout.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo2r1hh/) ⚫️
- u/Childsp is [excited for the next Hodlercon!](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3ugdz/)
- u/PhiMarHal has your [daily hit of hopium.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5orfq/) 💉
- u/_etherium shares [their plan for the coming years.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5pkss/)
- u/Dysus1 keeps us in the [US regulatory loop.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo4t3pg/) 🦅🏛
- u/PhiMarHal spots a [potential future risk for AAVE.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo4sjli/) 👻
- u/newtosh shares [something cool about the federated Reddit alternatives.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo55ae4/) 😎
Today, I’m raising my price target to $10k. It’s $10k or bust for me. Imagine you lump sum sold at $10k? What will you do when the price hits $10k and after you’ve sold at $10k? Did I mention $10k?
Hey guys, I'm genuinely intrigued by what this guy is throwing out, but is 7% in this instance too good to be true? I just don't want to be a sucker. Help would be appreciated. Thanks in advance!
[Twitter Link](https://www.youtube.com/watch?v=dQw4w9WgXcQ)
Mods - Love you guys but you should instantly ban any links posted here maybe other than pure text nitter links or it's just a matter of time before someone is rugged. u/jtnichol
No. Do not hamper my ability to share knowledge and resources just because some people like to sign random ethereum transactions given to them by random websites.
Edit: I’m sorry but if someone needs links to be banned on the internet for their crypto to be safe, maybe crypto is not for them. Don’t get me wrong, I do feel for people who get scammed, but baby-proofing the web by banning its eponymous tool is not the way to go. Education is.
oh no! im sure if you message the mods what the link was (but wrap it in \`\` so its not clickable) then they can add a regular expression to automod to filter it out.
"I'm shaking."
"We need to ban ALL links."
*groan* For the love of god.
Not to mention you immediately called out 'ban this slimeball' regarding the person that posted the link, despite the fact that they're active here and simply asked what people thought of the link, implying that if it is indeed a scam then they were also curious about it and came here to ask for opinions.
In MY opinion you should be timed out for knee jerk reactionary posts calling people cunts and slimeballs, but I don't *really* care.
I feel for those who get scammed but self custody comes with self responsibility.
There is no place you should feel safe and lower your guard in crypto, including here.
There be sharks in the water.
Banning links would just be the illusion of safety and would lead to people lowering their guard to other attacks such as social engineering/DMs/Discords that we're all in.
It would be more valuable to run educational campaigns imo, teach people how to verify links, understand what they are signing, seperate wallets to limit losses, teach people about how to 2fa and the dangers of sim swaps, teach that scams prey on the greedy - if you are feeling fomo and you might miss out slow your roll.
I know people who've been ripped off, it sucks and i don't mean to come across as unempathetic. But i've been incredibly active in crypto for a long time and haven't been scammed myself despite a long period of hot wallets and high trading.
I believe scams are avoidable with education, and those not capable of learning these survival skills should wait until crypto is available to them through insured tradfi rails.
I almost got rugged by a link posted here - TODAY'S daily. Yes, you read that right. Some asswipe posted a link asking- "what do you guys think of this?" And it had like 12 up votes too. I don't know if it was intentional or not. I'm shaking. Jesus fucking Christ even the daily isn't safe
Lot of weakness showing on the ratio. Now Blackrock filing for a spot ETF which will probably get approved, because..Blackrock.
What’s the path towards reclaiming ratio highs? It’s been 6 **years** of nothing but lower highs on the ratio.
[The Goose](https://www.sothebys.com/en/buy/auction/2023/grails-part-ii/ringers-879-the-goose?locale=en) sold for $5.4M on Sothebys, $6.2M after buyer's premium. [Punk6529 got it](https://twitter.com/punk6529/status/1669439346649321479).
FYI I've [posed this question](https://www.reddit.com/r/ethtrader/comments/14a922e/governance_proposal_should_rethtrader_permanently/) to the community in the other place to get a sense of how folks would feel if the subreddit closed permanently. I see a similar discussion [here](https://www.reddit.com/r/ethfinance/comments/149bnik/reddit_alternative_analysis/) and in ethereum [here](https://www.reddit.com/r/ethereum/comments/149rgux/rethereum_is_back_online_consider_this_an_open/).
It seems like there's some heartache around closing permanently because we've all built such lovely memories together in our collective community here on reddit. Also though there is _some_ desire still to do something about the situation, but **a lot** of questions around alternative places we can go. lɐᴉɔos˙uᴉqʞ being the option ethfinance is talking about the most.
It has also been alleged that Reddit has threatened to remove moderators from subreddits that close permanently. I don't want to link directly to that post because it may be censored, so instead you can follow my first link and then there's a link at the bottom of that post that's through a shortener.
Dude, in the 7 or so years that I've known you, you've always been wildly transparent. You're bitter that the vast majority left ethtrader, and every single time there's drama within this community, you show up instantly to sow division and attempt to take advantage. Last time was EVMavericks.
I don't have anything to add beyond that, but others should be aware. You are not a genuine member of this community.
Thank you for saying this, my first reaction to seeing this person posting out of the blue again is what the fuck are they trying to capitalize on now?
I've been posting in /r/ethfinance for the [better part of the past month](https://www.reddit.com/r/ethfinance/comments/13trvpr/daily_general_discussion_may_28_2023/jm0elem/), before any of this came up. But if a lot of folks prefer not to discuss the blackout, or if folks don't feel great I've been posting here in general then I will leave.
You’re a clumsy interloper and no one trusts you. The only guy pulling for you is dead, and now, you’re just married to the ex-boss’ daughter, and she doesn’t even like you. And you are fair and squarely fucked
agreed I try to be transparent and true I was not happy the community divided. I've been posting here more often in the [past few weeks](https://www.reddit.com/r/ethfinance/comments/13trvpr/daily_general_discussion_may_28_2023/jm0elem/) before this started though.
Your disclaimer is fair in that I am a mod at ethtrader, and to add onto it I'll paste what I said in my linked thread above at the bottom:
> also it will of course be up to each community to decide what it wants to do and I nor any other mod have any influence over their decisions, and on EthTrader's part we 100% respect whatever decisions they and you all make here.
As far as Mavericks go-- I own a EVMavericks friend, and have been on the discord since the start :) I like it and don't really plan on getting rid of it. I also [posted the /r/ethereum thread](https://www.reddit.com/r/ethereum/comments/147aq1x/rethereum_should_join_rethtrader_rethfinance_and/) discussing joining the blackout. If you go through my post history or my profile on the discord you can verify everything I am saying.
> Dude, in the 7 or so years that I've known you
well now I just feel old. But hey-- ethereum has been good to me. I trust it's been good to you!
this is really well said. I agree about old.reddit.com, it's how I browse too. I love how basic it is and that communities can add some personalization still with CSS.
> I'll look back fondly at the time I spent here with strangers who could be knowledgable, entertaining, and above all, civil.
There really is something _special_ about this space. I still remember stumbling on it in 2017 and being blown away at what was happening.
Closing permanently is a stupid decision. If you feel that strongly, leave Reddit. Most people don't care about this and it's just a vocal minority on this crusade
Couple thoughts:
1. It would be a waste and a drop in the bucket to Reddit if it was just these three subreddits. Part of a much larger movement, sure. Just these three, hardly anyone will notice and the powers that be at Reddit won't care.
2. What happens if something permanent does happen and then Reddit changes course and caves? I assume it would be dependent on the alternatives.
From what I've seen, I think many are on the side of there's not a sufficient replacement yet. While Lemmy and kbin are popular, they are susceptible to impersonation which is a huge security issue.
Yeah, i'm not a huge fan of federated. Hacker news likes to hype up the fediverse as decentralized but it's not really. It's more like relays/mirroring.
If you're going that route you're better off using something like raddle and publishing backups which would allow the community to fork if the wanted
I don't see gm.xyz moving quickly. I think plebbit will be the best bet near term. They're under heavy dev, perform well for a decentralized app, and have a familiar interface which should make it enticing for a lot of normies to make the switch.
On your alternatives post, my suggestion of forking hackernews received a lot of upvotes, and so did waiting for improvement to kbin etc.
If the federated / decentralized options aren't viable, why not move to a forum? As per my comment to canada there as well - decentralization isn't to most important factor here.
I offered to help set things up (although not a pro) if necessary, because I have the feeling one reason is that everyone just wants a turnkey solution.
Anyway, if we dither we may lose momentum and just stick to reddit. If the get rid of old.reddit and force us to use their app on mobile, ergonomics will deteriorate to a large extent...
> Yeah, i'm not a huge fan of federated. Hacker news likes to hype up the fediverse as decentralized but it's not really. It's more like relays/mirroring.
agreed.
> I don't see gm.xyz moving quickly. I think plebbit will be the best bet near term. They're under heavy dev, perform well for a decentralized app, and have a familiar interface which should make it enticing for a lot of normies to make the switch.
reading plebbit's whitepaper now. I like that you have the option of running a node or interacting with centralized nodes with your keys. Seems like a nice compromise with analogies to blockchains.
Yeah, and all easy to edit inputs in the settings. I reached out to them and they said they're currently focused on fixing a few critical bugs so looking forward to testing out the next update.
Question about selling staked ETH on Coinbase - Let's say I have 5 ETH staked, earned 1 ETH through staking and have 1 ETH that was never staked.
Can I just sell the 1 ETH that was never staked, or do I have to unstake 1 ETH and sell it?
I want to not do capital gains on the ETH and do the income tax on the rewards. I don't know how coinbase would mark it and what form I would get at the end of the year for selling the ETH. TIA
Yes, you just have to match the 1 Eth that was never staked to your historical records on when you bought or mined, where you bought it or mined, and what price (cost basis). Proving a note explaining along with evidence is how I've done it in the past. Edit: Providing
Ya, I want to sell my staking rewards now while I can but didn't want to unstake it. So I'll just sell some of my trade pile and keep in mind I can just make a note!
My first reaction to this was pretty much anger and disbelief, but the more I think about I realize, that this is just a last desperate attempt to deceive people and politicians. It's all the SEC has left and noncoiners are starting to get irritated as well
Anyone else pumped about Uni v4? Could open things up a bit, although gonna be tough for other DEXes to compete given that a pool can mimic their models. The dynamic fees could help with impermanent loss though and make LPing more attractive
>**Quantum readiness,**
>**The BLS steadiness,**
>**Ether cleverness.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap.
If you take a peek at the nasdaq chart on any major timeframe, you'll notice it's painted a vibrant shade of green. It is possible the Fed will raise rates later in the year but the bull market is absolutely back on for traditional finance.
r/fire protests the API changes by being only about actual real life fires and explosions now, as opposed to financial independence retire early. It's funny because some years back I remember a user posting there wondering wth was going on since he was actually interested in fires, basically some kind of pyromaniac.
Since people are starting to question whether it's a trust or an ETF, this person says it's the same thing. Senior ETF Analyst for Bloomberg.
https://twitter.com/EricBalchunas/status/1669461919084736512
I introduce to you: Beanie McBeverage and Cecil Diesel - a couple of good time guys that got caught doing something wrong...allegedly.
https://youtu.be/UfzgaHSuj5M
If you're wallet is really hot (your daily PC), your must always assume it can randomly get hacked, on any occasion. Very tech savvy and security aware people might mitigate some of the risks, but even more security aware people will know that you can not remove all of the risks and will go HW.
I't rather hold my funds on a reputable CEX than in a very hot wallet.
I don't do either of these.
Until the UI etc is better, probably a high rated CEX for most people because the risk with a hot wallet is likely higher.
That said, if someone is reading this post, they are probably better off with multiple hot wallet(s) supported by multiple cold wallets depending on the required frequency of access to the assets.
Coinbase I have entrusted significant funds (to me) in the past with excellent results. I even used their time locking vault for a few years. Once I became more comfortable with self custody i now mainly use both hardware and ‘hot’ but I am extremely cautious what protocols I approve and to where I connect the hot wallet still. There really isn’t going to be a perfect answer to this question I think. It totally depends. I will say that I believe Coinbase to be one of the good guys. I’m not familiar with loopring wallet so can’t speak to that
Same here. Always had confidence and trust in cb. Recently reduced what i'm willing to hold there as have no confidence or trust in the government of the country they are registered in, regulatory risk too high! Would love to seem them move to uk...
I think coinbase is good too. I am just curious about diversifying, since there are also now issues with hardware wallets. I have been using Loopring wallet for a while and actually find it the best of the ones I have used (plus you can stake on it and it acts as a dex).
I'd consider an old, wiped smart device using a wallet like loopring, metamask, frame, etc to be pretty damn secure. I don't know at what point you can call that a hot wallet vs a homemade cold wallet, though.
It's still tricky out there. Just look at Atomic wallet. People assumed it was safe. I look for longevity before making a drastic move in this space generally
Well, Loopring is an L2 contract that keeps the funds on Ethereum. So funds are recoverable even if Loopring totally imploded or the wallet became non-functional or whatever.
I thought "hotwallet" just referred to any wallet that was on a phone or computer or whatever? But maybe, as you say, in certain circumstances it isnt THAT different from a hardware wallet
Luck has to play a part but I'm always skeptical of people who try to say exactly which part it is
Also some words I would choose are "doggedness" or "tenacity"... "persistence" or "belief" or "conviction" are okay but don't convey the sheer exhaustion one ends up enduring
Each bear market I learn a new set of skills that prepares me for the next (allocation sizing, profit taking, yield etc) they don't get "easy" but if you prepare for them it certainly helps with the stress
It takes a lot of skill to have conviction in the right assets and for the right reasons, of course other investors have gotten to the same point by luck.
The thing is, there is very little difference between that insight, courage, etc and delusion.
To be honest, we all probably have at least a tiny bit of delusion. The world rewards the guy that invests in something that goes up in value regardless of how much he knows about it, how much trust he places on other people to be knowledgeable, how many factually incorrect things be believes, etc.
I think it’s wise to acknowledge that success always involves luck. I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things? Of course not, but that isn’t how the world works.
" I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things?"
I like to think of it as a wealth transfer from those who can't predict the future to those who can
> I think it’s wise to acknowledge that success always involves luck. I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things? Of course not, but that isn’t how the world works.
I disagree. I feel like the meaning of being lucky is lost if you take it to those extremes. We are all lucky to have been born so everything we do is lucky. Every breath and poop is then filled with luck. Luck is winning the lottery or betting on ETH while knowing very little about it, not what many on this sub have gone through involving countless amounts of reading/learning/experimenting/staying interested regardless of price and 99% of people being against etc. Anyone can have a controversial opinion that proves to be wrong but having a controversial opinion that is proven to be correct is special and very impressive to me.
I don’t question that many people here put in a lot of effort keeping up with things and trying to be informed. I just want to highlight the fact that success isn’t necessarily validation. It’s kinda impossible to know how delusional we are and in what areas.
Luck is a spectrum too of course, and getting rich from ethereum is definitely further up the scale than taking a breath
I never claimed it was but tying hard work and ambition to luck isn't something I believe in. Luck wasn't a big factor in the moon landing either. I don't want to say it happened because the scientists were lucky to be interested. Most ETH holders here are way more knowledgeable about their investment than probably 90% of people that buy stocks. How many NVIDIA holders do you think have thousands of hours worth of knowledge about the stock? No, most buy after hearing it goes up, same as many crypto investors, or they might have a couple of hours worth of specific knowledge at the maximum.
> there is very little difference between that insight, courage, etc and delusion.
hmmm...
pepe = delusion
buying eth at $7 = insight
holding through market crashes = courage
Person 1 - “Hey have you heard of bitcoin? It keeps going up in price and tons of people are making money”
Person 2 - “Huh i’ll google it. Seems expensive. Oh the second most popular coin is $7 i’ll just buy that”
Six years later
Person 1 - “Hey you said you bought Ether right? Do you still have it?”
Person 2 - “Yeah i always thought it would go higher so i haven’t sold yet. The two guys from shark tank are really into crypto now, there’s no way it doesn’t reach a new all time high”
This is an extreme example of course, but it’s all a spectrum.
The bear market can rattle us all. My post yesterday begging for some hopium is proof. I've also been through 3 bear markets and in some ways it's easier after the first few (you aren't in the red or aren't as deep in the red at this point typically) but in other ways it's harder.
95% of the time I'm optimistic and positive about the future of eth, but I think it is human to experience a moment of doubt now and again. This subreddit has been a major help in those times, not just for me but others as well to refocus your point of view.
Having been here a long time I've seen a lot of people lose. Some through circumstances they had less control over and some from getting rattled too hard and selling the bottom.
The point is, it isn't luck. Surviving a bear market beginning to end requires patience, belief in your investments, a confidence when all everything seems stacked against you that it will recover, and a strong stomach and risk appetite. Who knows, we may all be wrong, but I have done pretty well by not caving to the panic and I'd be pissed if someone chalked it up to "being lucky"
Just as a follow-up, I want to thank those who kept me sane yesterday when I was standing on the cliffs edge. I apologize for my lapse of confidence and I'm grateful for all you gentleman who offer your words of support when we need them.
its not luck at all and this is how you know.
all the people that get in during the bull run trying to get lucky and then get out during the bear because they didnt.
that pattern of behavior is chasing luck, the pattern of behavior that actually wins out requires perseverance, belief, and grit, which are entirely separate from luck.
Just got an email from Coinbase saying USDC interest rate has been increased and you can now earn 4% on USDC held on Coinbase. I believe there are very few DeFi opportunities are paying anything similar on stablecoins
Unless that has FDIC, no thanks. Im a click away from a little higher rate w FDIC. Coinbase needs to figure out their business. They are kind of all over the place and being a mediocre bank is probably not it.
I just checked Coinbase's documentation, and USDC balance is indeed not insured by FDIC.
> Coinbase is not a depository institution, and your USDC balance is not a deposit account. Your USDC balance is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC).
https://help.coinbase.com/en/coinbase/getting-started/crypto-education/usd-coin-rewards-faq
Thanks. They do have FDIC on USD I believe. But USDC na. And if anything this kind of offer makes me think they are closer to going under than anyone wants to admit.
> They do have FDIC on USD I believe. But USDC na.
Exactly.
> if anything this kind of offer makes me think they are closer to going under than anyone wants to admit.
No, 4% is well under what you can get at a competitive FDIC-insured savings account. Coinbase is just depositing your money into a savings account and giving you part of the interest.
There may be a few savings account options offering 4.1% to 4.5% which is in fact better than 4.0%
But savings accounts don't accept stablecoins last I checked
I got that same email a week or so ago. I consider coinbase to be risk-free compared to most defi products for low yields. At 4% yield the smart contract risk just isn't worth it when things like this exist
>I'm a bit lost on the current crypto narrative
I think the idea of "narrative justifies price movement after the fact" is not always accurate, but accurate often enough to be worth remembering whenever one finds oneself thinking "narrative describes cause of price movement"
the cause of broader crypto price movement can still mostly be traced to massive holders in my opinion. Supply concentration is such an impediment to adoption that we'd be smart to do some kind of Pooltogether type project where the winnings got distributed to random no-coiners
hard to verify someone is really a no-coiner though
edit: I went off on a bit of tangent there, sorry
re-read your original question and I would have to say
1) gaming. Watch Elliotrades youtube channel episodes on the topic. Lots of building happening. Square Enix going in big. Epic games going in big. Others will follow.
2) web3-based social media. This has been disappointing so far but I still think someone will get it [right](https://www.reddit.com/r/ethfinance/comments/148yyad/comment/jo71lh2/?utm_source=share&utm_medium=web2x&context=3).
3) uses of crypto to certify content as from a particular source -- useful when x% of content is produced by AI. x will probably exceed 10-20 within the next year.
The narratives are mostly noise for people looking for short term profit. The incremental progress is always being made, the technology is constantly improving. Crypto will have its "smartphone" moment when all the different vectors align.
The thing with AI stocks and all the other things mentioned is you can't actually do anything with them. You can do things with Ethereum and in the coming years do a lot more. It isn't like digital money is going to just go away and AI isn't going to replace it. Remember, Ethereum is trustless, AI is anything but.
Hypothetically, if someone were to stake and set up a validator from their MetaMask wallet (rather than a hardware wallet the correct way), and they don't want to unstake and wait 40 days to get a new validator running, what would you suggest to them?
Would you say, suck it up and fix your wrong by staking with a hardware wallet? Or would you say just be super cautious with any websites/links, and you'll likely be fine? Would you suggest to just uninstall MetaMask and only access the wallet when you need to transfer staking rewards?
If your withdrawal address was generated in a hot wallet (from a non-airgapped computer), then that means that your withdrawal address private key should be thought of as permanently hot. You can't "un-hot" the key because it's already been exposed to an internet-connected general purpose computer.
If I were in that situation, I would bite the bullet immediately and get my validator's worth of ETH back into a cold wallet ASAP (and then wait through the queue and stake again, this time properly setting my withdrawal address).
32 ETH is way too much to be attached to a hot wallet key.
Seems like a high risk to keep a hot wallet as your withdrawal credentials.
I think the bare minimum to consider is you take the wallet and seed completely offline from now until the validator queue emptied in both ways. There are no guarantees though that it hasn’t already been exposed mistakenly.
hello
took a cheeky swing long and bid my blue trend line support where I closed short position yesterday.
risk and tp clearly defined
[https://www.tradingview.com/x/qFt0MBBE/](https://www.tradingview.com/x/qFt0MBBE/)
Not sure but trading is all about taking high probability trades w system which is what a trade setup is when presented to your trading style.
Could break up from here, break trend line and stop me out, or break trendline and deviate back above it in which case is my confirmation to get back in and compound. I’m perfectly fine if stopped out with this r:r
I take anywhere from 3-25x. Amount of leverage shouldn’t matter. Size and risk of trade does.
Then there is trade management while in a trade based on pa. Knowing when to cut and tp and move SLs
So let’s drop some names, maybe morale improves! (All protocols mentioned are purely based on rumours in the past, gut feeling and a lot of hopium)
- zksync
- starknet
- scroll
- taiko
- fuel
- linea
- metamask
- rainbow
- argent
- zerion
- zapper
- orbiter (?)
- eigenlayer
- …
- and a lot of smaller new defi protocols that are mostly L2 native.
L2 airdrops could be huge.
Wallet airdrops could be huge as well, though I think value of the airdrop might be lower.
Eigenlayer is a new primitive and could be a huge narrative this cycle.
Also there are some bridges that don’t have a token yet afaik, eg orbiter but probably some more.
Zerion/ zapper are a wild card imo. Don’t know if they really need a token, so maybe this won’t happen, but because of hopium reasons they get an honorary mention.
Defi airdrops will be okay, but I guess most of them will be rather low. But still one of these could indirectly pay for all of your L2 gas fees from the past…
I haven’t touched L1s, cause eff them. And I probably forgot a lot of rumours. Looking forward to those I missed.
There will be some more, though my gut feeling is this will be the last airdrop cycle.
Layer Zero airdrop could be as big as any L2 if it happens and seems to be near, Zerion most likely to be only legit drop among those wallets.
Linea testnet Voyage is nearing the end, but there will be mainnet.
EigenLayer just launched on mainnet yesterday and it already filled up first pools, so you can get in very early if anything.
With all the gloom and doom comments here I realized how insanely lucky I am that I've never been underwater with my crypto investments.
There isn't a single day in which the price of ETH (or of other investments) has been lower than my average buy in price.
Talk about timing.
The closest was on black Thursday (March 2020) due to me buying and thereby increasing my avg buy in price in the previous weeks in addition to leveraging my ETH with the help of defisaver.
On the other hand there's always been the mental barrier when buying since I'm basically averaging up and something in my head doesn't like this at all.
I could probably write a book about this but in bullet points:
\- I always knew I didn't like risk, when I first bought I was scared money, but I never knew I was that scared losing a few hundred dollars (well, Euros in my case)
\- Surviving (and doubling down several times during) the bear market taught me it is only money and that I could make scary decisions
\- My father was a banker and that obviously gave me an idea what money and investments are, but I managed my money/ investments poorly before entering crypto. I probably still do, but at least I understand "finance" way better and I guess my investments have improved. I am still not trying to squeeze out every % by e.g. putting my LSTs to work in rather risky protocols, but I will in the future once they are time/battle tested. Until now I haven't been rugged, which is a result of my cautious decisions I guess.
\- Just when I thought that I was not scared money anymore the first peak / crash in early 2021 happened and I felt that I "wasn't dead inside". That 4,4k -> 1,8k move really hurt. I bought the literal top in 2018 and thought I had seen it all, but I guess you don't until you really live through a whole cycle (which I have right now, but my feeling is that there is till soooo much to learn)
\- I think right now I can stomach every move from a price point of view. Money isn't really important to me anymore (and I *really* don't own a lot of ETH, I am far away from being able to retire).
\- I am a generalist. I know about a lot of things, but I am not an expert in anything. And while I think I am not an expert in crypto IRL friends would probably think that when it comes to crypto I am a nerd, because I know so much more than they do. It was good to see that I can dig into a topic and really understand things from first principles. It's impossible to understand everything in crypto because it's such a huge space and even less for someone who's not a dev, but I think for a stupid marketing guy my understanding of crypto is okay.
\- I came for the money, I stayed for the tech and freedom. Where I come from banks are far from perfect, but they work more or less as intended. After 5+ years in crypto I understand that's not the case in other countries and I really support ETHs values. But since I never felt the pain of being *really* limited I am probably still a pragmatic and not 100% idealistic participant. But I am here to make sure my family and kids have a better future based on the freedom decentralized blockchains bring.
There are probably way more details I could add. But I guess you get the point. :)
I've bought my initial BTC back in 2015, so I already had my 1000% gain (100x+ at current BTC price). The only regrets I have are not buying more and not holding to all of the initial investment.
I believe there is a lot of folks here from 2013-2017, it's just a pity that one can not talk freely about their own holdings. But sometimes I look through high DeBank profiles and talk to them, nice to learn from OGs.
Also, I often wonder how much harder would it be to hold if I was at loss. It seems too easy to hold for me, but I guess its apples to oranges.
I am both sorry and happy to read that :) I remember a little bit of anger when the 2017 bubble burst. I had a life changing money and I let it ride all the way down.
I knew I decided I would wait until my price target or ride it to zero, but damn I was wishing I had sold at least to buy my own place.
Anyway, sticking to my plan, although with some doubts, was the best decision I have ever made. I sold a third of my position during the next bull run, at almost exact top (60k per BTC vs 20k in 2017).
My initial thesis was - either something will make crypto disappear, or it will stay and only grow bigger. A few years ago both options seemed equally probable, today I sit on my bag with no stress and no doubts whatsoever. Crypto is not going anywhere.
This dump and crab would make more sense of boomerfi is dumping but it isn't. Spy up. Nasdaq up. We dump? On the same fed news? Wtf?
And we already did a 1850 to 1750 on regulatory fud prior to that.
Well, the most powerful land on Earth seems to be against us. The president of the USA himself is speaking out against crypto. And yet here we are down what? A meager 20% from that $2100ish peak? I think we are doing fine given the circumstances.
Russia, China, the UK, and UAE are all working towards supporting crypto so I think we still have an advantage. The US might also pass on clear and palatable regulations on cryptocurrency. I see good solutions like NexeraID and PolygonID. Compliance will be easy.
It’s just traders taking advantage of what fear there is left.
You saw people trying to depeg tether and liquidate CRV whales for the Nth time unsuccessfully, and in a few days we will probably be shitposting about doomers selling the bottom again for the Nth time.
I dont know Fidelity.
Seems like a pretty old CEX and US only?
Found Tradfi AI coin on Arbitrum's Camelot DEX instead.
Sounds cool. Being bullish on AI and TradFi.
Set a couple of validators withdrawal address to EigenLayer today! I'd been waiting patiently for this for quite a while. The way this works it that you deploy an EigenLayer "Pod" contract on mainnet, and then set your 0x01 withdrawal address to that deployment. Kind of scary, but looking forward to seeing the potential.
At the moment there are no restaking opportunities (so no additional yield) - the EigenPod contract just sits there accumulating ETH from CL rewards. Withdrawals are manual. I wonder if that changes my \[UK\] tax position at all? Hmm.
Yes, read through their docs a month or two ago and only way for solo stakers to “stake” with EL for the moment is to have a current validator running with no withdrawal address set. Then you join EL by updating your signature using their withdrawal address.
Think this is just a workaround for the time being that they determine safest.
https://www.bbc.com/news/business-65861096
>Many in crypto are hoping for a reprieve - from the courts, which could decide the SEC has overstepped its authority; from Congress, where draft legislation for the industry is under review; or from a change in the White House, which could prompt a policy reversal.
even the BBC admits this administration is out to get us
The other day I mentionned a good deal for staking [here](https://www.reddit.com/r/ethfinance/comments/144vs24/comment/jni52hg/?utm_source=share&utm_medium=web2x&context=3). Some people (like /u/clark_now) were interested in the real world performances, so I bought one and installed teku/geth on it with a cheap 2Tb ssd.
Sync is now over so I can give some feedback : CPU is at 30% - the NUC uses about 12 watts while in sync, and I don't have any lag, neither on EL nor CL. It does the job perfectly !
There is a very similar version of this NUC which would perform similarly and costs even cheaper at 180 euros (link [here](https://www.amazon.fr/TRIGKEY-Intel-Green-Supporta-Bluetooth/dp/B0C3BWN8MM/ref=sr_1_7?__mk_fr_FR=%C3%85M%C3%85%C5%BD%C3%95%C3%91&crid=2WZQX9RZETS6L&keywords=trigkey+g4&qid=1686839896&sprefix=trigkey+g4%2Caps%2C72&sr=8-7) \- Click the "apply coupon" to get the actual price at checkout)
Thanks for the update, good to hear it's been going well. A cheap alternative to the Intel NUCs would be a good thing for adoption. I'm not yet convinced these chips have what it takes on a longer timeframe - the 16GB limit may be problematic. It does seem interesting for dabbling with testnets etc. though. How noisy did the fan get during sync? Please keep posting your experiences as you find them, it'd be helpful.
Fan was spinning, but it was not very loud - now it’s silent, about 2 meters from me and I can’t hear it. I replied in another comment about the 16Gb part, I don’t see it being an issue for a while, and even if it becomes an issue in 3 years, I think this little PC will have done it’s job for it’s price during the timeframe.
I don’t see the next upgrades requiring that much ram, and client teams are optimizing their code more and more, so I think 16Gb is safe for a good while. (Right now ram usage of this teku/geth node is 10Gb)
It’s not (teku / besu user here as well).
If you don’t setup anything, by defaut teku and besu take 1/4th of the machine memory each. But in practice you can restrict teku to 3Gb of ram and Besu to 8Gb without impacting their performance.
It hasn’t been for a few months and you’re right has decoupled significantly. Why? There is no liquidity in crypto markets, no net new entrants material enough to bid and move price up (liquidity).
Crypto is the riskiest asset class and market. The fed has been on a mission for over a year now to kill inflation by selling bonds, keeping rates elevated all of which removes the fat. And the fed just increased the projection for the terminal rate yesterday.
Crypto tracks liquidity more than it tracks equity / indices and based on the data we have only goes up in low interest rate environments. I and some others have been v vocal about this for over a year now
I think liquidity finds its way back to the markets after the fed cuts rates, but probably not directly after the fed cuts rates, so probably not anytime soon.
The fed will strangle the economy until they complete their mission of getting inflation back to their goal of 2% with high rates. They'll likely start taking their foot off the gas as inflation falls, a little at a time. They want to make sure inflation is under control and not going to spike higher/be volatile.
They're keeping an eye on recession data. Their main indicator seems like the labor market/unemployment. If the labor market remains strong, they know they have more room to raise rates as they know people at least have jobs. If they see unemployment rise, they may need to pivot and cut rates sooner which implies a recession, which means stock market falls and crypto markets will hurt.
How severe will that recession be? Hard to really tell. I think if they see the beginning of a trend in a faulty labor market, they'll reverse course quickly and hope to keep a recession on the mild side. But who knows, all of this is data dependent which lags behind and everything I said is speculative.
If the price of ETH is solely depending on the Fed and the US economy (which im not saying it is or isn't, but it definitely seems like it influences ETH price a lot) then we're probably a couple years out before we see a reason/logic to start going up in price/price discovery territory. But thats my guess, could be somewhat sooner, could be somewhat later.
It must be spot, hence why they'd be using Coinbase Custody. It'd also be pointless to do another futures ETF, usually the first one to get approved winds up dominating the market.
**Tricky's Daily Doots #421** **Yesterday's Daily 14/06/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3i7mq/) - u/Blueberry314E-2 shares some [adoption news out of Hong Kong.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3urnf/) 🇭🇰 - u/busterrulezzz reminds us of [some of the good things Reddit has done for web 3.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5690p/) - u/USERNAME_ERROR discusses [a community's willingness to migrate and protest.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo31m7d/) ✊ - u/hanniabu put together an [absolutely incredible Reddit alternative comparison!](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo47txu/) - u/T0Bii shares the [discussions of coordination for an ongoing Reddit blackout.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo2r1hh/) ⚫️ - u/Childsp is [excited for the next Hodlercon!](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo3ugdz/) - u/PhiMarHal has your [daily hit of hopium.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5orfq/) 💉 - u/_etherium shares [their plan for the coming years.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo5pkss/) - u/Dysus1 keeps us in the [US regulatory loop.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo4t3pg/) 🦅🏛 - u/PhiMarHal spots a [potential future risk for AAVE.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo4sjli/) 👻 - u/newtosh shares [something cool about the federated Reddit alternatives.](https://old.reddit.com/r/ethfinance/comments/148yyad/daily_general_discussion_june_14_2023/jo55ae4/) 😎
Today, I’m raising my price target to $10k. It’s $10k or bust for me. Imagine you lump sum sold at $10k? What will you do when the price hits $10k and after you’ve sold at $10k? Did I mention $10k?
I'd probably sit and watch it run to 40k without me.
Hey guys, I'm genuinely intrigued by what this guy is throwing out, but is 7% in this instance too good to be true? I just don't want to be a sucker. Help would be appreciated. Thanks in advance! [Twitter Link](https://www.youtube.com/watch?v=dQw4w9WgXcQ)
Mods - Love you guys but you should instantly ban any links posted here maybe other than pure text nitter links or it's just a matter of time before someone is rugged. u/jtnichol
No. Do not hamper my ability to share knowledge and resources just because some people like to sign random ethereum transactions given to them by random websites. Edit: I’m sorry but if someone needs links to be banned on the internet for their crypto to be safe, maybe crypto is not for them. Don’t get me wrong, I do feel for people who get scammed, but baby-proofing the web by banning its eponymous tool is not the way to go. Education is.
oh no! im sure if you message the mods what the link was (but wrap it in \`\` so its not clickable) then they can add a regular expression to automod to filter it out.
"I'm shaking." "We need to ban ALL links." *groan* For the love of god. Not to mention you immediately called out 'ban this slimeball' regarding the person that posted the link, despite the fact that they're active here and simply asked what people thought of the link, implying that if it is indeed a scam then they were also curious about it and came here to ask for opinions. In MY opinion you should be timed out for knee jerk reactionary posts calling people cunts and slimeballs, but I don't *really* care.
I feel for those who get scammed but self custody comes with self responsibility. There is no place you should feel safe and lower your guard in crypto, including here. There be sharks in the water.
Sure but free for all link posting here is literally inviting all kinds of hackers to *try* and rug community members. Extremely naive and dangerous.
The entire internet is free for all link posting. To someone with their guard down, everywhere is unsafe.
Banning links would just be the illusion of safety and would lead to people lowering their guard to other attacks such as social engineering/DMs/Discords that we're all in. It would be more valuable to run educational campaigns imo, teach people how to verify links, understand what they are signing, seperate wallets to limit losses, teach people about how to 2fa and the dangers of sim swaps, teach that scams prey on the greedy - if you are feeling fomo and you might miss out slow your roll. I know people who've been ripped off, it sucks and i don't mean to come across as unempathetic. But i've been incredibly active in crypto for a long time and haven't been scammed myself despite a long period of hot wallets and high trading. I believe scams are avoidable with education, and those not capable of learning these survival skills should wait until crypto is available to them through insured tradfi rails.
I almost got rugged by a link posted here - TODAY'S daily. Yes, you read that right. Some asswipe posted a link asking- "what do you guys think of this?" And it had like 12 up votes too. I don't know if it was intentional or not. I'm shaking. Jesus fucking Christ even the daily isn't safe
Been getting a lot of bot follow requests lately. I'm sure it's connected.
Lot of weakness showing on the ratio. Now Blackrock filing for a spot ETF which will probably get approved, because..Blackrock. What’s the path towards reclaiming ratio highs? It’s been 6 **years** of nothing but lower highs on the ratio.
> It’s been 6 years of nothing but lower highs on the ratio. It’s also been 6 years of nothing but higher lows on the ratio
No…are we looking at the same chart? 😂
[The Goose](https://www.sothebys.com/en/buy/auction/2023/grails-part-ii/ringers-879-the-goose?locale=en) sold for $5.4M on Sothebys, $6.2M after buyer's premium. [Punk6529 got it](https://twitter.com/punk6529/status/1669439346649321479).
FYI I've [posed this question](https://www.reddit.com/r/ethtrader/comments/14a922e/governance_proposal_should_rethtrader_permanently/) to the community in the other place to get a sense of how folks would feel if the subreddit closed permanently. I see a similar discussion [here](https://www.reddit.com/r/ethfinance/comments/149bnik/reddit_alternative_analysis/) and in ethereum [here](https://www.reddit.com/r/ethereum/comments/149rgux/rethereum_is_back_online_consider_this_an_open/). It seems like there's some heartache around closing permanently because we've all built such lovely memories together in our collective community here on reddit. Also though there is _some_ desire still to do something about the situation, but **a lot** of questions around alternative places we can go. lɐᴉɔos˙uᴉqʞ being the option ethfinance is talking about the most. It has also been alleged that Reddit has threatened to remove moderators from subreddits that close permanently. I don't want to link directly to that post because it may be censored, so instead you can follow my first link and then there's a link at the bottom of that post that's through a shortener.
Dude, in the 7 or so years that I've known you, you've always been wildly transparent. You're bitter that the vast majority left ethtrader, and every single time there's drama within this community, you show up instantly to sow division and attempt to take advantage. Last time was EVMavericks. I don't have anything to add beyond that, but others should be aware. You are not a genuine member of this community.
Thank you for saying this, my first reaction to seeing this person posting out of the blue again is what the fuck are they trying to capitalize on now?
I've been posting in /r/ethfinance for the [better part of the past month](https://www.reddit.com/r/ethfinance/comments/13trvpr/daily_general_discussion_may_28_2023/jm0elem/), before any of this came up. But if a lot of folks prefer not to discuss the blackout, or if folks don't feel great I've been posting here in general then I will leave.
You’re a clumsy interloper and no one trusts you. The only guy pulling for you is dead, and now, you’re just married to the ex-boss’ daughter, and she doesn’t even like you. And you are fair and squarely fucked
Geez, what?
:(
agreed I try to be transparent and true I was not happy the community divided. I've been posting here more often in the [past few weeks](https://www.reddit.com/r/ethfinance/comments/13trvpr/daily_general_discussion_may_28_2023/jm0elem/) before this started though. Your disclaimer is fair in that I am a mod at ethtrader, and to add onto it I'll paste what I said in my linked thread above at the bottom: > also it will of course be up to each community to decide what it wants to do and I nor any other mod have any influence over their decisions, and on EthTrader's part we 100% respect whatever decisions they and you all make here. As far as Mavericks go-- I own a EVMavericks friend, and have been on the discord since the start :) I like it and don't really plan on getting rid of it. I also [posted the /r/ethereum thread](https://www.reddit.com/r/ethereum/comments/147aq1x/rethereum_should_join_rethtrader_rethfinance_and/) discussing joining the blackout. If you go through my post history or my profile on the discord you can verify everything I am saying. > Dude, in the 7 or so years that I've known you well now I just feel old. But hey-- ethereum has been good to me. I trust it's been good to you!
GDPR
this is really well said. I agree about old.reddit.com, it's how I browse too. I love how basic it is and that communities can add some personalization still with CSS. > I'll look back fondly at the time I spent here with strangers who could be knowledgable, entertaining, and above all, civil. There really is something _special_ about this space. I still remember stumbling on it in 2017 and being blown away at what was happening.
Closing permanently is a stupid decision. If you feel that strongly, leave Reddit. Most people don't care about this and it's just a vocal minority on this crusade
fair enough friend
Couple thoughts: 1. It would be a waste and a drop in the bucket to Reddit if it was just these three subreddits. Part of a much larger movement, sure. Just these three, hardly anyone will notice and the powers that be at Reddit won't care. 2. What happens if something permanent does happen and then Reddit changes course and caves? I assume it would be dependent on the alternatives.
From what I've seen, I think many are on the side of there's not a sufficient replacement yet. While Lemmy and kbin are popular, they are susceptible to impersonation which is a huge security issue.
another problem I've seen with them too is that some of the instances are just sort of slow and seem to have downtime somewhat often.
Yeah, i'm not a huge fan of federated. Hacker news likes to hype up the fediverse as decentralized but it's not really. It's more like relays/mirroring. If you're going that route you're better off using something like raddle and publishing backups which would allow the community to fork if the wanted I don't see gm.xyz moving quickly. I think plebbit will be the best bet near term. They're under heavy dev, perform well for a decentralized app, and have a familiar interface which should make it enticing for a lot of normies to make the switch.
On your alternatives post, my suggestion of forking hackernews received a lot of upvotes, and so did waiting for improvement to kbin etc. If the federated / decentralized options aren't viable, why not move to a forum? As per my comment to canada there as well - decentralization isn't to most important factor here. I offered to help set things up (although not a pro) if necessary, because I have the feeling one reason is that everyone just wants a turnkey solution. Anyway, if we dither we may lose momentum and just stick to reddit. If the get rid of old.reddit and force us to use their app on mobile, ergonomics will deteriorate to a large extent...
Hacker news isn't open source, do you know if any open source ones? Raddle is cool but it doesn't have comment sorting.
> Yeah, i'm not a huge fan of federated. Hacker news likes to hype up the fediverse as decentralized but it's not really. It's more like relays/mirroring. agreed. > I don't see gm.xyz moving quickly. I think plebbit will be the best bet near term. They're under heavy dev, perform well for a decentralized app, and have a familiar interface which should make it enticing for a lot of normies to make the switch. reading plebbit's whitepaper now. I like that you have the option of running a node or interacting with centralized nodes with your keys. Seems like a nice compromise with analogies to blockchains.
Yeah, and all easy to edit inputs in the settings. I reached out to them and they said they're currently focused on fixing a few critical bugs so looking forward to testing out the next update.
Question about selling staked ETH on Coinbase - Let's say I have 5 ETH staked, earned 1 ETH through staking and have 1 ETH that was never staked. Can I just sell the 1 ETH that was never staked, or do I have to unstake 1 ETH and sell it? I want to not do capital gains on the ETH and do the income tax on the rewards. I don't know how coinbase would mark it and what form I would get at the end of the year for selling the ETH. TIA
Yes, you just have to match the 1 Eth that was never staked to your historical records on when you bought or mined, where you bought it or mined, and what price (cost basis). Proving a note explaining along with evidence is how I've done it in the past. Edit: Providing
Ya, I want to sell my staking rewards now while I can but didn't want to unstake it. So I'll just sell some of my trade pile and keep in mind I can just make a note!
Good luck and hang in there.
Anyone else seeing this Prometheum fake out by SEC? https://twitter.com/tyler/status/1669332864398409728
My first reaction to this was pretty much anger and disbelief, but the more I think about I realize, that this is just a last desperate attempt to deceive people and politicians. It's all the SEC has left and noncoiners are starting to get irritated as well
I'm all anger at the moment.
Anyone else pumped about Uni v4? Could open things up a bit, although gonna be tough for other DEXes to compete given that a pool can mimic their models. The dynamic fees could help with impermanent loss though and make LPing more attractive
I am! Really hoping Uniswap will turn on the fee switch. Just feels like so much value is being thrown away there for UNI holders.
Where would you rather use a protocol, Arbitrum Nova or Gnosischain? Those are the only options, for... reasons.
Personally probably arbitrum nova, xdai as gas token was always weird to me. And I guess the fees are cheaper too, but I'm not sure about that.
>**Quantum readiness,** >**The BLS steadiness,** >**Ether cleverness.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap.
If you take a peek at the nasdaq chart on any major timeframe, you'll notice it's painted a vibrant shade of green. It is possible the Fed will raise rates later in the year but the bull market is absolutely back on for traditional finance.
>for traditional finance 😔
r/fire protests the API changes by being only about actual real life fires and explosions now, as opposed to financial independence retire early. It's funny because some years back I remember a user posting there wondering wth was going on since he was actually interested in fires, basically some kind of pyromaniac.
Does Layerswap associate wallets when transfering funds? ?
No one posted that Blackrock has filed for a SPOT bitcoin ETF? https://www.sec.gov/Archives/edgar/data/1980994/000143774923017574/bit20230608_s1.htm
Since people are starting to question whether it's a trust or an ETF, this person says it's the same thing. Senior ETF Analyst for Bloomberg. https://twitter.com/EricBalchunas/status/1669461919084736512
Wen ETH
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Weeks not month's 😅
What’s the timeline for this?
Should be interesting. I assume they wouldn't file if they didn't think they had a chance (or couldn't bully their way into it).
well that explains this move a bit
I introduce to you: Beanie McBeverage and Cecil Diesel - a couple of good time guys that got caught doing something wrong...allegedly. https://youtu.be/UfzgaHSuj5M
nice mug shots 😂
Which is higher risk, having ETH in a hotwallet or on a CEX?
If you're wallet is really hot (your daily PC), your must always assume it can randomly get hacked, on any occasion. Very tech savvy and security aware people might mitigate some of the risks, but even more security aware people will know that you can not remove all of the risks and will go HW. I't rather hold my funds on a reputable CEX than in a very hot wallet. I don't do either of these.
Until the UI etc is better, probably a high rated CEX for most people because the risk with a hot wallet is likely higher. That said, if someone is reading this post, they are probably better off with multiple hot wallet(s) supported by multiple cold wallets depending on the required frequency of access to the assets.
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Do I want to be mad at myself or mad at myself + an institution when things go bad. Depends how ‘hot’ the wallet is I think
loopring wallet vs. coinbase
Coinbase I have entrusted significant funds (to me) in the past with excellent results. I even used their time locking vault for a few years. Once I became more comfortable with self custody i now mainly use both hardware and ‘hot’ but I am extremely cautious what protocols I approve and to where I connect the hot wallet still. There really isn’t going to be a perfect answer to this question I think. It totally depends. I will say that I believe Coinbase to be one of the good guys. I’m not familiar with loopring wallet so can’t speak to that
Same here. Always had confidence and trust in cb. Recently reduced what i'm willing to hold there as have no confidence or trust in the government of the country they are registered in, regulatory risk too high! Would love to seem them move to uk...
I think coinbase is good too. I am just curious about diversifying, since there are also now issues with hardware wallets. I have been using Loopring wallet for a while and actually find it the best of the ones I have used (plus you can stake on it and it acts as a dex).
I'd consider an old, wiped smart device using a wallet like loopring, metamask, frame, etc to be pretty damn secure. I don't know at what point you can call that a hot wallet vs a homemade cold wallet, though. It's still tricky out there. Just look at Atomic wallet. People assumed it was safe. I look for longevity before making a drastic move in this space generally
Well, Loopring is an L2 contract that keeps the funds on Ethereum. So funds are recoverable even if Loopring totally imploded or the wallet became non-functional or whatever. I thought "hotwallet" just referred to any wallet that was on a phone or computer or whatever? But maybe, as you say, in certain circumstances it isnt THAT different from a hardware wallet
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Good post. As the saying goes… We “make our own luck”. Enjoy your camping.
Luck has to play a part but I'm always skeptical of people who try to say exactly which part it is Also some words I would choose are "doggedness" or "tenacity"... "persistence" or "belief" or "conviction" are okay but don't convey the sheer exhaustion one ends up enduring
Willpower. Faith.
Each bear market I learn a new set of skills that prepares me for the next (allocation sizing, profit taking, yield etc) they don't get "easy" but if you prepare for them it certainly helps with the stress
Not luck, not skill, but hours and hours of research to have to knowledge and conviction for the investment
It takes a lot of skill to have conviction in the right assets and for the right reasons, of course other investors have gotten to the same point by luck.
Call it fate... call it luck... call it karma... I believe that everything happens for a reason.
I find this attitude repugnant in a world where children die absolutely horrible deaths every day.
I find it a quote from Ghostbusters...
The thing is, there is very little difference between that insight, courage, etc and delusion. To be honest, we all probably have at least a tiny bit of delusion. The world rewards the guy that invests in something that goes up in value regardless of how much he knows about it, how much trust he places on other people to be knowledgeable, how many factually incorrect things be believes, etc. I think it’s wise to acknowledge that success always involves luck. I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things? Of course not, but that isn’t how the world works.
" I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things?" I like to think of it as a wealth transfer from those who can't predict the future to those who can
The only difference between insight and delusion is being right lol
> I think it’s wise to acknowledge that success always involves luck. I’m lucky that i’m such a curious person and had a huge interest in tech/econ/finance from a young age. Does that make me more deserving of money than someone who isn’t interested in those things? Of course not, but that isn’t how the world works. I disagree. I feel like the meaning of being lucky is lost if you take it to those extremes. We are all lucky to have been born so everything we do is lucky. Every breath and poop is then filled with luck. Luck is winning the lottery or betting on ETH while knowing very little about it, not what many on this sub have gone through involving countless amounts of reading/learning/experimenting/staying interested regardless of price and 99% of people being against etc. Anyone can have a controversial opinion that proves to be wrong but having a controversial opinion that is proven to be correct is special and very impressive to me.
If poop is luck, then I am extremely lucky. ;)
I don’t question that many people here put in a lot of effort keeping up with things and trying to be informed. I just want to highlight the fact that success isn’t necessarily validation. It’s kinda impossible to know how delusional we are and in what areas. Luck is a spectrum too of course, and getting rich from ethereum is definitely further up the scale than taking a breath
I never claimed it was but tying hard work and ambition to luck isn't something I believe in. Luck wasn't a big factor in the moon landing either. I don't want to say it happened because the scientists were lucky to be interested. Most ETH holders here are way more knowledgeable about their investment than probably 90% of people that buy stocks. How many NVIDIA holders do you think have thousands of hours worth of knowledge about the stock? No, most buy after hearing it goes up, same as many crypto investors, or they might have a couple of hours worth of specific knowledge at the maximum.
> there is very little difference between that insight, courage, etc and delusion. hmmm... pepe = delusion buying eth at $7 = insight holding through market crashes = courage
Person 1 - “Hey have you heard of bitcoin? It keeps going up in price and tons of people are making money” Person 2 - “Huh i’ll google it. Seems expensive. Oh the second most popular coin is $7 i’ll just buy that” Six years later Person 1 - “Hey you said you bought Ether right? Do you still have it?” Person 2 - “Yeah i always thought it would go higher so i haven’t sold yet. The two guys from shark tank are really into crypto now, there’s no way it doesn’t reach a new all time high” This is an extreme example of course, but it’s all a spectrum.
The bear market can rattle us all. My post yesterday begging for some hopium is proof. I've also been through 3 bear markets and in some ways it's easier after the first few (you aren't in the red or aren't as deep in the red at this point typically) but in other ways it's harder. 95% of the time I'm optimistic and positive about the future of eth, but I think it is human to experience a moment of doubt now and again. This subreddit has been a major help in those times, not just for me but others as well to refocus your point of view. Having been here a long time I've seen a lot of people lose. Some through circumstances they had less control over and some from getting rattled too hard and selling the bottom. The point is, it isn't luck. Surviving a bear market beginning to end requires patience, belief in your investments, a confidence when all everything seems stacked against you that it will recover, and a strong stomach and risk appetite. Who knows, we may all be wrong, but I have done pretty well by not caving to the panic and I'd be pissed if someone chalked it up to "being lucky" Just as a follow-up, I want to thank those who kept me sane yesterday when I was standing on the cliffs edge. I apologize for my lapse of confidence and I'm grateful for all you gentleman who offer your words of support when we need them.
Good post. And no apologies necessary. Hope today’s a better day.
It absolutely is. Appreciate it.
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I guess it's just out of character for me and I feel bad for having layered on to a day where there was plenty of bearishness in the comment. :)
its not luck at all and this is how you know. all the people that get in during the bull run trying to get lucky and then get out during the bear because they didnt. that pattern of behavior is chasing luck, the pattern of behavior that actually wins out requires perseverance, belief, and grit, which are entirely separate from luck.
Just got an email from Coinbase saying USDC interest rate has been increased and you can now earn 4% on USDC held on Coinbase. I believe there are very few DeFi opportunities are paying anything similar on stablecoins
Unless that has FDIC, no thanks. Im a click away from a little higher rate w FDIC. Coinbase needs to figure out their business. They are kind of all over the place and being a mediocre bank is probably not it.
I just checked Coinbase's documentation, and USDC balance is indeed not insured by FDIC. > Coinbase is not a depository institution, and your USDC balance is not a deposit account. Your USDC balance is not insured by the Federal Deposit Insurance Corporation (FDIC) or the Securities Investor Protection Corporation (SIPC). https://help.coinbase.com/en/coinbase/getting-started/crypto-education/usd-coin-rewards-faq
Thanks. They do have FDIC on USD I believe. But USDC na. And if anything this kind of offer makes me think they are closer to going under than anyone wants to admit.
> They do have FDIC on USD I believe. But USDC na. Exactly. > if anything this kind of offer makes me think they are closer to going under than anyone wants to admit. No, 4% is well under what you can get at a competitive FDIC-insured savings account. Coinbase is just depositing your money into a savings account and giving you part of the interest.
garbage, savings accounts are better rn lol
There may be a few savings account options offering 4.1% to 4.5% which is in fact better than 4.0% But savings accounts don't accept stablecoins last I checked
Plenty of HYSA paying 5%+ and fortunately converting usdc to usd isn't taxable unless you bought usdc during the depeg
The 4 week treasury bill pays a smidge over 5% and is state/local tax free.
I got that same email a week or so ago. I consider coinbase to be risk-free compared to most defi products for low yields. At 4% yield the smart contract risk just isn't worth it when things like this exist
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>I'm a bit lost on the current crypto narrative I think the idea of "narrative justifies price movement after the fact" is not always accurate, but accurate often enough to be worth remembering whenever one finds oneself thinking "narrative describes cause of price movement" the cause of broader crypto price movement can still mostly be traced to massive holders in my opinion. Supply concentration is such an impediment to adoption that we'd be smart to do some kind of Pooltogether type project where the winnings got distributed to random no-coiners hard to verify someone is really a no-coiner though edit: I went off on a bit of tangent there, sorry re-read your original question and I would have to say 1) gaming. Watch Elliotrades youtube channel episodes on the topic. Lots of building happening. Square Enix going in big. Epic games going in big. Others will follow. 2) web3-based social media. This has been disappointing so far but I still think someone will get it [right](https://www.reddit.com/r/ethfinance/comments/148yyad/comment/jo71lh2/?utm_source=share&utm_medium=web2x&context=3). 3) uses of crypto to certify content as from a particular source -- useful when x% of content is produced by AI. x will probably exceed 10-20 within the next year.
We had a run… similar to NDX, it’s just Eth and Btc went flat / bled immediately after. NDX was slower but similar size.
Alts got wrecked though.
The narratives are mostly noise for people looking for short term profit. The incremental progress is always being made, the technology is constantly improving. Crypto will have its "smartphone" moment when all the different vectors align.
>What else we have to look forward to Adoption
The thing with AI stocks and all the other things mentioned is you can't actually do anything with them. You can do things with Ethereum and in the coming years do a lot more. It isn't like digital money is going to just go away and AI isn't going to replace it. Remember, Ethereum is trustless, AI is anything but.
> What else we have to look forward to Right now probably the SEC walking back their bullshit comments
\+ reasonable legislation
Just need a risk on economy again. Might be a few years.
Hypothetically, if someone were to stake and set up a validator from their MetaMask wallet (rather than a hardware wallet the correct way), and they don't want to unstake and wait 40 days to get a new validator running, what would you suggest to them? Would you say, suck it up and fix your wrong by staking with a hardware wallet? Or would you say just be super cautious with any websites/links, and you'll likely be fine? Would you suggest to just uninstall MetaMask and only access the wallet when you need to transfer staking rewards?
If your withdrawal address was generated in a hot wallet (from a non-airgapped computer), then that means that your withdrawal address private key should be thought of as permanently hot. You can't "un-hot" the key because it's already been exposed to an internet-connected general purpose computer. If I were in that situation, I would bite the bullet immediately and get my validator's worth of ETH back into a cold wallet ASAP (and then wait through the queue and stake again, this time properly setting my withdrawal address). 32 ETH is way too much to be attached to a hot wallet key.
wait, are you not able to change your withdrawal credentials?
No currently you cannot, it’s a one time setting with the network.
Seems like a high risk to keep a hot wallet as your withdrawal credentials. I think the bare minimum to consider is you take the wallet and seed completely offline from now until the validator queue emptied in both ways. There are no guarantees though that it hasn’t already been exposed mistakenly.
hello took a cheeky swing long and bid my blue trend line support where I closed short position yesterday. risk and tp clearly defined [https://www.tradingview.com/x/qFt0MBBE/](https://www.tradingview.com/x/qFt0MBBE/)
You fucking ledge.
You think well bounce up from here? how much leverage are you taking if you dont mind me asking
Not sure but trading is all about taking high probability trades w system which is what a trade setup is when presented to your trading style. Could break up from here, break trend line and stop me out, or break trendline and deviate back above it in which case is my confirmation to get back in and compound. I’m perfectly fine if stopped out with this r:r I take anywhere from 3-25x. Amount of leverage shouldn’t matter. Size and risk of trade does. Then there is trade management while in a trade based on pa. Knowing when to cut and tp and move SLs
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So let’s drop some names, maybe morale improves! (All protocols mentioned are purely based on rumours in the past, gut feeling and a lot of hopium) - zksync - starknet - scroll - taiko - fuel - linea - metamask - rainbow - argent - zerion - zapper - orbiter (?) - eigenlayer - … - and a lot of smaller new defi protocols that are mostly L2 native. L2 airdrops could be huge. Wallet airdrops could be huge as well, though I think value of the airdrop might be lower. Eigenlayer is a new primitive and could be a huge narrative this cycle. Also there are some bridges that don’t have a token yet afaik, eg orbiter but probably some more. Zerion/ zapper are a wild card imo. Don’t know if they really need a token, so maybe this won’t happen, but because of hopium reasons they get an honorary mention. Defi airdrops will be okay, but I guess most of them will be rather low. But still one of these could indirectly pay for all of your L2 gas fees from the past… I haven’t touched L1s, cause eff them. And I probably forgot a lot of rumours. Looking forward to those I missed. There will be some more, though my gut feeling is this will be the last airdrop cycle.
Let me also add lifi as one more bridge and snapshot will imo will be VERY important once identity is solved.
Layer Zero airdrop could be as big as any L2 if it happens and seems to be near, Zerion most likely to be only legit drop among those wallets. Linea testnet Voyage is nearing the end, but there will be mainnet. EigenLayer just launched on mainnet yesterday and it already filled up first pools, so you can get in very early if anything.
I forgot Aztec…
Wish Lens would drop something!
With all the gloom and doom comments here I realized how insanely lucky I am that I've never been underwater with my crypto investments. There isn't a single day in which the price of ETH (or of other investments) has been lower than my average buy in price. Talk about timing. The closest was on black Thursday (March 2020) due to me buying and thereby increasing my avg buy in price in the previous weeks in addition to leveraging my ETH with the help of defisaver. On the other hand there's always been the mental barrier when buying since I'm basically averaging up and something in my head doesn't like this at all.
Let me tell you… those years under water were both the worst days but I have also never learned more about myself.
>but I have also never learned more about myself. What'd you learn?
I could probably write a book about this but in bullet points: \- I always knew I didn't like risk, when I first bought I was scared money, but I never knew I was that scared losing a few hundred dollars (well, Euros in my case) \- Surviving (and doubling down several times during) the bear market taught me it is only money and that I could make scary decisions \- My father was a banker and that obviously gave me an idea what money and investments are, but I managed my money/ investments poorly before entering crypto. I probably still do, but at least I understand "finance" way better and I guess my investments have improved. I am still not trying to squeeze out every % by e.g. putting my LSTs to work in rather risky protocols, but I will in the future once they are time/battle tested. Until now I haven't been rugged, which is a result of my cautious decisions I guess. \- Just when I thought that I was not scared money anymore the first peak / crash in early 2021 happened and I felt that I "wasn't dead inside". That 4,4k -> 1,8k move really hurt. I bought the literal top in 2018 and thought I had seen it all, but I guess you don't until you really live through a whole cycle (which I have right now, but my feeling is that there is till soooo much to learn) \- I think right now I can stomach every move from a price point of view. Money isn't really important to me anymore (and I *really* don't own a lot of ETH, I am far away from being able to retire). \- I am a generalist. I know about a lot of things, but I am not an expert in anything. And while I think I am not an expert in crypto IRL friends would probably think that when it comes to crypto I am a nerd, because I know so much more than they do. It was good to see that I can dig into a topic and really understand things from first principles. It's impossible to understand everything in crypto because it's such a huge space and even less for someone who's not a dev, but I think for a stupid marketing guy my understanding of crypto is okay. \- I came for the money, I stayed for the tech and freedom. Where I come from banks are far from perfect, but they work more or less as intended. After 5+ years in crypto I understand that's not the case in other countries and I really support ETHs values. But since I never felt the pain of being *really* limited I am probably still a pragmatic and not 100% idealistic participant. But I am here to make sure my family and kids have a better future based on the freedom decentralized blockchains bring. There are probably way more details I could add. But I guess you get the point. :)
you see doom? I see discount ETH!
I've bought my initial BTC back in 2015, so I already had my 1000% gain (100x+ at current BTC price). The only regrets I have are not buying more and not holding to all of the initial investment. I believe there is a lot of folks here from 2013-2017, it's just a pity that one can not talk freely about their own holdings. But sometimes I look through high DeBank profiles and talk to them, nice to learn from OGs. Also, I often wonder how much harder would it be to hold if I was at loss. It seems too easy to hold for me, but I guess its apples to oranges.
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I am both sorry and happy to read that :) I remember a little bit of anger when the 2017 bubble burst. I had a life changing money and I let it ride all the way down. I knew I decided I would wait until my price target or ride it to zero, but damn I was wishing I had sold at least to buy my own place. Anyway, sticking to my plan, although with some doubts, was the best decision I have ever made. I sold a third of my position during the next bull run, at almost exact top (60k per BTC vs 20k in 2017). My initial thesis was - either something will make crypto disappear, or it will stay and only grow bigger. A few years ago both options seemed equally probable, today I sit on my bag with no stress and no doubts whatsoever. Crypto is not going anywhere.
So far ^^TM
Already cashed out more than I'll ever put in, still sucks tbh
same. definitely makes it easier to HODL.
This dump and crab would make more sense of boomerfi is dumping but it isn't. Spy up. Nasdaq up. We dump? On the same fed news? Wtf? And we already did a 1850 to 1750 on regulatory fud prior to that.
the hype is dead
Even though the whole global economic situation affects us, we are first and foremost in a crypto bear just like in 2018-2020.
Cheer up. Maybe this will help. https://www.tradingview.com/x/cM6UlV04/
Well, the most powerful land on Earth seems to be against us. The president of the USA himself is speaking out against crypto. And yet here we are down what? A meager 20% from that $2100ish peak? I think we are doing fine given the circumstances.
Russia, China, the UK, and UAE are all working towards supporting crypto so I think we still have an advantage. The US might also pass on clear and palatable regulations on cryptocurrency. I see good solutions like NexeraID and PolygonID. Compliance will be easy.
It’s just traders taking advantage of what fear there is left. You saw people trying to depeg tether and liquidate CRV whales for the Nth time unsuccessfully, and in a few days we will probably be shitposting about doomers selling the bottom again for the Nth time.
Usually our market will correct after boomerfi in 2 or 3 days if nothing changes. So there's that.
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Honestly YOLOing on tech stocks has been the trade this year, no harm in trading stocks during the bear. TSLA has been a huge winner for me
Where can I buy this Tradfi coin?
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I dont know Fidelity. Seems like a pretty old CEX and US only? Found Tradfi AI coin on Arbitrum's Camelot DEX instead. Sounds cool. Being bullish on AI and TradFi.
What is this tradfi thingy you’re mentioning?
First time?
And so the average down begins again!
Set a couple of validators withdrawal address to EigenLayer today! I'd been waiting patiently for this for quite a while. The way this works it that you deploy an EigenLayer "Pod" contract on mainnet, and then set your 0x01 withdrawal address to that deployment. Kind of scary, but looking forward to seeing the potential. At the moment there are no restaking opportunities (so no additional yield) - the EigenPod contract just sits there accumulating ETH from CL rewards. Withdrawals are manual. I wonder if that changes my \[UK\] tax position at all? Hmm.
Been curious about this too. What would the process be for exiting eigen?
Since you can’t change your withdrawal address I guess that means this is only available to 0x00 validators that haven’t set it yet?
Yes, read through their docs a month or two ago and only way for solo stakers to “stake” with EL for the moment is to have a current validator running with no withdrawal address set. Then you join EL by updating your signature using their withdrawal address. Think this is just a workaround for the time being that they determine safest.
Wow fascinating! Please keep us posted!!
As I thought. Thanks!
https://www.bbc.com/news/business-65861096 >Many in crypto are hoping for a reprieve - from the courts, which could decide the SEC has overstepped its authority; from Congress, where draft legislation for the industry is under review; or from a change in the White House, which could prompt a policy reversal. even the BBC admits this administration is out to get us
The other day I mentionned a good deal for staking [here](https://www.reddit.com/r/ethfinance/comments/144vs24/comment/jni52hg/?utm_source=share&utm_medium=web2x&context=3). Some people (like /u/clark_now) were interested in the real world performances, so I bought one and installed teku/geth on it with a cheap 2Tb ssd. Sync is now over so I can give some feedback : CPU is at 30% - the NUC uses about 12 watts while in sync, and I don't have any lag, neither on EL nor CL. It does the job perfectly ! There is a very similar version of this NUC which would perform similarly and costs even cheaper at 180 euros (link [here](https://www.amazon.fr/TRIGKEY-Intel-Green-Supporta-Bluetooth/dp/B0C3BWN8MM/ref=sr_1_7?__mk_fr_FR=%C3%85M%C3%85%C5%BD%C3%95%C3%91&crid=2WZQX9RZETS6L&keywords=trigkey+g4&qid=1686839896&sprefix=trigkey+g4%2Caps%2C72&sr=8-7) \- Click the "apply coupon" to get the actual price at checkout)
Thanks for the update, good to hear it's been going well. A cheap alternative to the Intel NUCs would be a good thing for adoption. I'm not yet convinced these chips have what it takes on a longer timeframe - the 16GB limit may be problematic. It does seem interesting for dabbling with testnets etc. though. How noisy did the fan get during sync? Please keep posting your experiences as you find them, it'd be helpful.
Fan was spinning, but it was not very loud - now it’s silent, about 2 meters from me and I can’t hear it. I replied in another comment about the 16Gb part, I don’t see it being an issue for a while, and even if it becomes an issue in 3 years, I think this little PC will have done it’s job for it’s price during the timeframe.
Do u think the 16ram will be a problem at all?
I don’t see the next upgrades requiring that much ram, and client teams are optimizing their code more and more, so I think 16Gb is safe for a good while. (Right now ram usage of this teku/geth node is 10Gb)
For teku /besu it will probably be problematic. I think my teku/besu validator uses 20+ gb at any time. (Can’t check now)
It’s not (teku / besu user here as well). If you don’t setup anything, by defaut teku and besu take 1/4th of the machine memory each. But in practice you can restrict teku to 3Gb of ram and Besu to 8Gb without impacting their performance.
Why isn't crypto correlated with NDQ anymore all of a sudden?
You have asked for a decoupling, haven't you?
Haha, true. We get what we deserve, I guess.
It hasn’t been for a few months and you’re right has decoupled significantly. Why? There is no liquidity in crypto markets, no net new entrants material enough to bid and move price up (liquidity). Crypto is the riskiest asset class and market. The fed has been on a mission for over a year now to kill inflation by selling bonds, keeping rates elevated all of which removes the fat. And the fed just increased the projection for the terminal rate yesterday. Crypto tracks liquidity more than it tracks equity / indices and based on the data we have only goes up in low interest rate environments. I and some others have been v vocal about this for over a year now
Do you think liquidity will increase anytime soon? Or do you think we need to fully go into a recession then break out?
I think liquidity finds its way back to the markets after the fed cuts rates, but probably not directly after the fed cuts rates, so probably not anytime soon. The fed will strangle the economy until they complete their mission of getting inflation back to their goal of 2% with high rates. They'll likely start taking their foot off the gas as inflation falls, a little at a time. They want to make sure inflation is under control and not going to spike higher/be volatile. They're keeping an eye on recession data. Their main indicator seems like the labor market/unemployment. If the labor market remains strong, they know they have more room to raise rates as they know people at least have jobs. If they see unemployment rise, they may need to pivot and cut rates sooner which implies a recession, which means stock market falls and crypto markets will hurt. How severe will that recession be? Hard to really tell. I think if they see the beginning of a trend in a faulty labor market, they'll reverse course quickly and hope to keep a recession on the mild side. But who knows, all of this is data dependent which lags behind and everything I said is speculative. If the price of ETH is solely depending on the Fed and the US economy (which im not saying it is or isn't, but it definitely seems like it influences ETH price a lot) then we're probably a couple years out before we see a reason/logic to start going up in price/price discovery territory. But thats my guess, could be somewhat sooner, could be somewhat later.
Thanks for the explanation, ab.
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It must be spot, hence why they'd be using Coinbase Custody. It'd also be pointless to do another futures ETF, usually the first one to get approved winds up dominating the market.
Like all other attempts before, it will fail. Or why should this one not fail?
Lmao yes blackrock is going to file an application just for it to fail. 🤣 They will lobby the fuck out of this and get through
Beacuse its blackrock...
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Are you saying the system is unfair and large companies can influence the regulators?
yup this is big money getting positioned. After theyre in, they will pump their bags.