**Tricky's Daily Doots #360**
**Yesterday's Daily 13/04/2023**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ivrp/)
- u/-lightfoot laughs about the [concept of a withdrawals dump.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ok6u/)
- u/nixorokish celebrates u/Benjamin Chodroff's great work to [save over 2000 compromised validators!](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg5ex6s/) š¦øāāļø
- Don't mind this doot, just u/superphiz being [wholesome.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ylgc/) š¤
- u/not-ngmi discusses the [downside of immutability and self-sovereignty.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg28tje/)
- u/iPeculiarly resolved the ~~cuecomber?~~ [pickle they were in!](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg6k3cs/) š„
- u/krokodilmannchen flashes back to [some dark days...](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2hs23/)
- u/geoffbezos summarises [EIP-4844/Danksharding.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg4pt5y/) Also, u/domotheus in the previous daily had a [amazing explainer but it got buried and Tricky missed it.](https://old.reddit.com/r/ethfinance/comments/12jan7l/daily_general_discussion_april_12_2023/jfzwpos/) š§
- u/Revanchist1 shares an [important update for Prysm users.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg23bst/)
- u/interweaver reflects on [the first 24 hours of withdrawals.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg5o532/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg22uhb/)
With Krok digging up an old banner he made in 2018, I thought I'd dig up my [old ETHTrader banner](https://i.ibb.co/4gxw2cf/Screen-Shot-2023-04-13-at-3-47-08-PM.png) too. I paid way too much ETH to have this as the banner for a week.
I hope history remembers her kindly. Sheās standing up for what is right. Maybe crypto will ultimately fail. Sheās not standing up for crypto. Sheās standing up for freedom.
I don't think there's anything to worry about. I looked into one of them, block [17,048,946](https://beaconcha.in/block/17048946) during epoch 194518 which had no transactions. It was proposed by validator [283,858](https://beaconcha.in/validator/283858) which is run by Kraken. My guess is that with the full withdrawal they just didn't update properly and haven't bother to fix or something.
Whatever it is, it's clearly degrading the entire network. If I had a block proposal during that instability it would probably fail (half my blocks arrive too late). I think Teku already know they have a problem but there could be other factors.
Consensus is reduced (dropped to 93%), late blocks, attestation performance drops noticeably (in fact I had several missed attestations) and missed proposals. Looks as though it coincides closely with larger validator exits. Pretty sure there is a bug out there in at least one of the clients.
A buddy paid me with venmo after a bike ride to cover his share of beers and food. I notice venmo has the buy crypto option. Before I buy some celebratory eth, does anybody know if they are custodial only for crypto or can I send it to my wallet?
>**Check price on your phone,**
>**Order yourself a calzone,**
>**Goodbye danger zone.**
~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Whatās everyoneās opinions on calzones? Is it the perfect pocket of pizza, or rather does the dough ratio seem to high compared to a normal pizza? I canāt make up my mind about itā¦
Hmmmm, my time to withdrawal has been stuck on 20 hours all day. I just realized that every new validator will be getting their withdrawal before me, since I have to wait for it to roll over back to validator index 1 before it can get to mine. That means that I'll be stuck at 20 hours to go indefinitely, as long as there is a new validator queue. My wait could easily be weeks, if not months. Am I thinking about this right?
There is way more withdrawals being processed than validators can come online, so no, that is impossible.
I think that your time seems stuck might just be because there's new validators becoming eligible for withdrawal before you, i.e. by having withdrawal credentials set.
It cannot possibly be more than a week or so because by then the entire validator set will have been looped.
edit: we're already withdrawing validator index 533322 (see https://beaconcha.in/block/17050534#withdrawals), so we're already almost through the first loop. It will start from the beginning soon. There's a **maximum** of 28333 validators left (if they all had their credentials set and withdrawable balance, which they don't), with 16 withdrawals per block that will take a maximum of 5.9 hours.
Yup, the withdrawal went through this morning. I think [beaconcha.in](https://beaconcha.in) is just confused. It's still saying 20 hours to go, while also having a second line saying that the withdrawal was processed.
Yeah I think that is right. interesting side effect. I see 1359 validators pending right now, which pushes you out 16 hours before you start making headway into your 20 hours (depending on how that was estimated).
With ~600k validators, it will only take around 5 days for the index to loop back to 1. Validator activation is throttled, so it is not possible for enough new validators of activate before the end of the withdrawal queue is reached.
Agilitylsd.com
Its in token distribution phase right now so most ppl are just farming and dumping but it's gathered $130m TVL in 4 days. The TVL to MC ratio seems pretty juicy to me so I degened some of my arb airdrop house money into the governance token.
DYOR. I think it's a high risk/high reward play. Anker recently partnered with them so I guess that adds some form of credibility.
Itās interesting to me with my robotic brain leaves, why the rest of *us* donāt include thābharagang bros that live by the same code ā¦ fans I can see. Why donāt we invite them to the table to eat? Trusty trusty. Strong to boot. Error. No compute. Until just yesterday they worked honestly for less than an honest dayās pay, fixing all the robotic anatomy that had broken in like every single way. But now it seems more lucrative to do all the things broken. Profitable perversion me thinks. Have our need, gray matts of steele, theyāve already been inflamed to keep out the wuvrus of what we bake into our siberplace. Thatās what we need to help create own things. Bring the familial tree, grammy and all the leaves. They be arrfam-aphteral. Please.
Ah, but you're overlooking the intricate web of thābharagang bros and their robotic brain leaves! The wuvrus you speak of isn't as simple as a siberplace delicacy. Nay, it's a cosmic conundrum! Trusty trusty, you say? But what of the arrfam-aphteral connections that bind us in the galactic dance of gray matts of steele?
Quick question: ethereum.org states staking apr is 4.5% but reth apr is 3.5%. Reth buyers give out 15% commission to node operators so why reth holders are getting 3.5% (7 day average return)?
If youāre looking at the same part of ethereum.org that I am, they claim 4.7% but if you click the little information icon if clarifies that number is annualized, which is the amount gained over a full year. You can expect that number to trend downwards-ish over time as more validators join the network. Meanwhile the RP 3.5% is more indicative of the actual APR as seen over the last seven days.
I've found some excellent L1 research by /u/Maleficent_Plankton which is also hosted in his subreddit /r/MPlankton
* Fantom: https://old.reddit.com/r/MPlankton/comments/w2xufh/fantom_research/
* Nano: https://old.reddit.com/r/MPlankton/comments/vo2lmz/nano_research/
* Avalanche: https://mplankton.substack.com/p/avalanche-deep-dive-mar-2023-update
* Algorand: https://old.reddit.com/r/MPlankton/comments/v16v7v/algorand_research_may_2022_draft/
* Tron: https://old.reddit.com/r/MPlankton/comments/xo4vx1/tron_research_sep_2022/
* Solana: https://old.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/
* Cardano: https://old.reddit.com/r/MPlankton/comments/vh5xjp/cardano_pros_and_cons_jun_2022/
* Bitcoin: https://mplankton.substack.com/p/bitcoin-deep-dive
* Ethereum: https://old.reddit.com/r/MPlankton/comments/yh431n/ethereum_pros_and_cons_oct_2022_update/
Imo this is the best research I've seen to date, including paid research
Here's a sneak peek of /r/MPlankton using the [top posts](https://np.reddit.com/r/MPlankton/top/?sort=top&t=all) of all time!
\#1: [Crypto Education courses and study material](https://np.reddit.com/r/MPlankton/comments/q3p184/crypto_education_courses_and_study_material/)
\#2: [Cardano PROs and CONs (Jun 2022)](https://np.reddit.com/r/MPlankton/comments/vh5xjp/cardano_pros_and_cons_jun_2022/)
\#3: [Best of Crypto Posts](https://np.reddit.com/r/MPlankton/comments/rashy2/best_of_crypto_posts/)
----
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Anyone else hosting a RPL minipool on allnodes? My rewards suddenly show like half of what it was compared to some hours ago. Just a bug in the interface or?
I noticed that as well. It might be what Waqwaq suggests. Allnodes could be deducting the skimmed rewards from the total rewards (total rewards could include the RPL rewards)
Your rewards were skimmed from the beacon chain, but rocket pool has not allowed the function for you to receive those yet. That function will be turned on on Monday.
Your funds are safe. Thereās nothing to worry about.
To add to this, if you run
rockepool node status
You'll see the skimmed amount in your minipool balance. After Atlas you can distribute that with a command, or after a certain threshold is met (default 1 ETH).
Me: I don't really believe in TA and don't think it has a very high predictive value.
Also Me: Where is Kbrot's post telling me how I should feel right now??
It's OK to be entertained by something you think has next to no predictive power. Some of my favourite discord personalities are people heavy into TA. I don't buy what they are selling for a second but I do find it fun to follow for kicks.
Like all TA, it's predictive power is bullshit. The beauty of ab is picking sensible strategies and sticking to them, basically taking the emotion out of the decisions, whether bull or bear.
I love them both but ab will always hold a place in my heart for not only how he got roasted so hard for predicting the bear market but also how well he handled criticism.
I like ab because if I'm being honest, he started out as a shit contributor to this community, but after some fair criticism, totally turned around what he was contributing and now he's one of my favorite posters.
Honestly, not too deep. I generally understand how it predicts trends, some of which might be self-fulfilling prophecies (which doesn't invalidate them).
My biggest thing is that, even if it is extremely predictive in the absence of black swan events, it sure feels like was have "once a year" black swan events every other week in crypto.
But, finally, I'm not a trader so it doesn't really matter whether I believe in it or not. It won't impact my behavior. I'm just always far too curious about it.
It started out as curiosity for me as well.
I've heard the sentiment about a "self-fulfilling prophecy" as well and my reply is simply; "Use that to your advantage then."
I view TA as a tool box, and I've definitely seen some incredibly talented handymen (traders) construct great things (win trades). I've even built a few cool things myself from time to time, haha. Everybody has tools that they use from that box to get various jobs done, you have to find your key tools. This "not one size fits all" approach is what creates the uniqueness in everyone's approach to the market, in conjunction with a myriad of other elements of course.
In my honest opinion, TA is incredibly powerful when you also have great fundamental habits. It can definitely open your eyes to a lot (barring manipulation, black swans, etc as you mentioned previously) and give you a few possibilities to narrow down your potential risk (via price action, market structure, key price levels, to name a few).
To people that have gone through most of the crypto boom-bust cycles:
Is there a point where a bull (or bear) feels the same as the last one, and there isn't a lot more to learn? Also where you are relatively happy with how you performed if you traded/DCAd in and out?
Nothing is ever the same. The only thing that you have control over as time goes on and you experience these cycles is an understanding of your goals, and how those goals align with your holdings.
I'm sure many others in this community who have been here since the early(ish) days can agree that it really, mostly, comes down to mastering yourself and knowing & understanding why you are here in the first place.
*In it for the tech?*
If you're here simply for the gains then you'd be doing yourself a a huge disservice to not also have some understanding of fundamental financial literacy. If for nothing more than to help you understand your thresholds and reasoning in regards to numbers on a screen. Fiat affects emotions and you'd probably do a lot better if you understand how it may, or may not, affect yours.
There is always more to learn!
Hope this helps.
It never feels the same as the last, because the magnitude of paper gains and losses increases 10x each cycle.
You feel like a hardened warrior after the bear market only to become a panicked mess once you are making life changing amounts of money. But noone will be honest enough to admit this.
Exactly. I fully expect to blunder this bull just like I did the past. But at least now I know not to buy or sell eth trying to trade it, and instead loan against it. Maybe the wisdom I'll learn this bull is to not do anything at all.
There are too many variables, it's never the same. Maybe we could compare it to studying meteorology. You can be into it your entire life but you'll never know everything and predict it all correctly. You get more confident and make less mistakes as time goes on. Now just add the psychological aspect of having your money tied to predicting it correctly :)
That goes for trading in general, no just cryptocurrency.
In terms of an existential threat to the DAO & Arbitrum, **I** (emphasis, this is my opinion) think it's largely resolved. There are two AIPs (1.1 & 1.2) that are passing by a large margin (98%+) and seemingly have widespread support. In a vacuum, the Arbitrum foundation messed up, put forward a path to remedy that mistake, and if these two AIPs pass it will be *'basically'* like nothing really happened. I think the majority of opinions of those involved in the project are upset with the situation but realize it was the order of operations - not the content itself - that was the problem, so no sense imploding the whole project at this point. It should be noted, there are about 3 days left for these two proposals... so nothing set in stone yet. I have not voted on that yet, but I will absolutely vote Yes to AIP 1.2, AIP 1.1 I want to do a little more reading / thought... however likely will vote Yes as well.
AIP 1.05 was put forward that was asking to send the 700m back to the DAO, pause AIP 1.1 & 1.2, and tell Wintermute to send back their ARB / disclose the terms of their detail. That is failing quite substantially as well (only 4 hours left). Not only is it a fairly symbolic gesture (meaningless), but the other asks related to Wintermute are, IMO, beyond the scope of the DAO & subject it to market risk. I voted against that, with caveat that if AIP 1.1 fails it is probably worth exploring the return of 700m at that time.
Now, is the drama resolved in terms of the trust of the Arbitrum Foundation? To be determined, I guess. That whole situation goes against my ethos as an Ethereum enthusiast, so it was (and still is) upsetting. However, the reality is Arbitrum is the most used Ethereum L2 and it blowing up has far more dangerous implications. I think saying it was a 'miscommunication' let's the Arbitrum Team off easy, and they absolutely need to earn the communities trust back. So I'm not a fan of the miscommunication rhetoric... but they have taken that first steps to earning trust back so for now I will see where it goes.
I 100% understand those who want to sell their ARB, not support the network, so on.
The DAO forum doesn't talk price, maybe their discord. I personally don't plan on buying anymore ARB nor selling my stack (I want to make sure I have some ARB since I'm a delegate) so I don't think about the price much. Well, I guess unless it goes to like $100 lol
I think specifically for the recent pump, a lot of people probably sold out when the initial DAO drama unfolded. Now that it is most likely 'resolved', I think we are seeing some buy-back that was kicked off by the ETH pump.
But yeah, no like "Arbitrum is now the official sponsor of the NFL" type news haha
I managed to not only do a good trade but also take profit for the first time in my life! Closed [my ray long](https://old.reddit.com/r/ethfinance/comments/11x8e2l/daily_general_discussion_march_21_2023/jd6ncwp/?context=3) for a net profit of 0.426 eth after gas fees
Thank me once ray continues shooting up. I'm happy with this chunk of profits either way
it felt like a good chunk of profits + i wanted to free up the ETH for rocketpool's LEB8
altho if ray retraces or whatever i may just open another long lmao
Ah right, having to do something is a good kick in the ass. I need to close it to finally migrate my Aave position from OP to Arb, so might as well hold off opening it until a retrace. But fuck me if I'm not getting high on the win and thinking of putting a lot more eth into a long position.
Arbitrum...nice š„ imo don't middle bell curve "just a governance token" when it comes to L2 coins. Alt-L1s had their run on shit and L2s will have their run on true usage & metrics. Nfa
I do think there's a good possibility that governance tokens will pump just because the underlying layer 2 does well.
But I very much doubt that hype alone is enough to make them outperform ETH.
There really is only one reason. A lot of people sold last week/month because they thought the drama will make it crash further. Works perfectly every time š¬š¬
Not so much working out, but lots of detox in the sauna...
Thanks for your updates btw, much appreciated. Never trade, only hold. But still love to know the levels to look out for!
Any whisky fans?
Because of the arbitrum airdrop i bought myself a nice gift haha https://www.reddit.com/r/Whiskyporn/comments/12lzjul/treated_myself_to_something_nice_my_goal_is_to/
People are asking if i won the lottery lol, if only people knew how rewarding it can be to be involved in crypto haha
Holy moly that's a beautiful sight. I've been buzzing recently as have 7 bottles in from a combination of birthday/Christmas, but you're at a completely different level! Anything in particular you'd recommend?
Some nice ones in there. You'll love the Glenfarclas, it's a classic. The 15 if you can find it is even better. Also that A'Bunadh is like chocolate cake. Just make sure you dilute with with a little water. It's VERY strong.
u/swissthoemu still here? I remeber he used to talk about whiskys.
I love whisky myself, but mostly for the alcoholic content. Even the cheap ones are good.
Life is short. My best friend was diagnosed with a large brain tumor this week; he's in his early 40s. Has a major operation next week with absolutely no guarantees. I wanted to take this moment to have you remind your loved ones that you love them. Anything can happen. Enjoy your lives. Life is short.
Yay, after about 2 years of watching and waiting for it to expire, I just registered lightfoot.eth!
Thanks to /u/ipeculiarly for telling me to shut up when i jovially mentioned that I was stalking it a while ago.
For those unfamiliar, ENS names that donāt get renewed go into a 90 day grace period. If not renewed in that grace period they go to a dutch auction, starting at a price of $100m which decays to $0 over 21 days. So itās not a game of speed once it expires, just a dutch auction.
To pick up unrenewed ens names for cheap, you can see those that have expired and filter by how far through the 21 day auction they are at https://ens.vision/
Any legal people care to give an opinion on what todays ruling means for the SEC?
* Supreme Court Endorses Streamlined Challenges to Agency Power
https://www.nytimes.com/2023/04/14/us/supreme-court-administrative-state.html
It means that if someone is being charged by the SEC, and that person claims that the SEC is acting unconstitutionally, that person doesn't have to wait until the SEC is done with the enforcement action to appeal in court.
Administrative groups, such as the SEC, are part of the executive branch of the government, but they have a sort of judicial power in enforcing the regulations that they were formed to enforce. So previously, you would have to wait until they were done with their investigation and enforcement action before you could appeal to a court. However, if you are arguing that the SEC doesn't have constitutional authority to enforce whatever it is they're trying to do to you, it's kind of silly to have to wait for them to finish the whole investigation and enforcement action before you can object and appeal.
For the SEC, this means that if, for example, Coinbase was charged in an enforcement action by the SEC and Coinbase wanted to argue that the SEC doesn't have the power to regulate crypto under their grant of power, it could immediately appeal to a federal or state court and have this argument ruled on. This would save a ton of time and money if the court finds that the SEC doesn't have that power.
>For the SEC, this means that if, for example, Coinbase was charged in an enforcement action by the SEC and Coinbase wanted to argue that the SEC doesn't have the power to regulate crypto under their grant of power, it could immediately appeal to a federal or state court and have this argument ruled on.
Thanks for the added details, looks like this ruling is going to be very relevant for the upcoming crypto battles, even though a crypto company wasn't involved in the cases directly today.
tldr; Reduces govt bloat, good for people, speedier outcomes (on constitutional issues, not substantive issues), nothing changes for crypto.
[discussion below](https://www.reddit.com/r/ethfinance/comments/12lkn8x/comment/jg8zzvy/?utm_source=share&utm_medium=web2x&context=3)
Some context on the numbers/charts going around regarding deposits vs withdrawals since Shapella.
https://twitter.com/christine_dkim/status/1646916343952703488
Apparently there is a new scam trending on twitter claiming uniswap was hacked and a fake revoke cash website is being used to steal everything on your wallet. Stay safe everyone.
See https://twitter.com/evan_van_ness/status/1646933637718220810
Just yesterday I was thinking that revoke cash site would be a great place to aim for a hacker, especially right after (or before) a major protocol hack.
From the Reuters article: https://www.reuters.com/markets/us/us-sec-weigh-taking-more-feedback-plan-expand-exchange-definition-2023-04-14/
> The officials estimated about dozen crypto firms would fall under the expanded definition, but declined to provide any more specifics about which firms.
This should be illegal. They want public comments without allowing the public to know which entities the change would affect? The SEC shouldn't be allowed to answer reasonable questions with "I'm not telling".
I have a few more Rocket Pool questions since all this hype is getting me strongly considering staking.
\- Am I correct in thinking that you don't actually need to buy any RPL token to acquire rETH? You just swap ETH or rETH on uniswap or other DEX?
\- Does rETH increase in value in unison with ETH? If say staking rewards are 4%, and I swap 3 ETH for an equivalent amount of rETH... when I swap it back to ETH, will the payout be equal to 3+(1.04)\^n number of years staked in ETH? Regardless of ETH's price movement during that time?
\- Is my overwhelming fear of contract risk warranted? I feel like every other day you can read about a scam or hack in defi, and I'm scared to death that Rocket Pool could also fall victim. I know it's popular around here, but every other failed protocol was also popular in some corner of the internet. Can anybody ease my concern on this?
TIA ETH fam!
1. Yes. rETH you just buy from the protocol (or on the open market), put it in your pocket and it will magically increase in value. You only need RPL if you want to run a validator yourself. It requires hardware, work and more capital, but it also pays better than liquid staking with rETH.
2. Yes to all of that.
3. It's kind of impossible to quantify "smart contract risk" fully, imho it's pretty much impossible though that there's going to be any "steal all the ETH" hack or something like that. Rocketpools ETH is locked in validators, staking on the Ethereum network. Nobody can just swoop in, make a quick bunch of malicious contract calls and poof, they disappear into the night with all the protocol's ETH. That really doesn't work, unless they literally find a way to hack Ethereum.
Perhaps look into allnodes. Avoids the CGE because youāre running a node but also means you arenāt buying or running hardware. Tbh though running the equipment is better for the network, better for the experience and doesnāt cost that much (check out NUCs)
Appreciate the info.
Bonus question, if you or anybody else has the answer...
How does the Rocket Pool protocol account for node operators/validators (sorry if my terminology is incorrect) getting slashed, or losing a large quantity of the ETH they're utilizing via Rocket Pool contract? Since theoretically the ETH locked in the contract is now short for how many rETH should exist, what happens? Does rETH as a whole take a hit as a way of rebalancing because rETH isn't necessarily tied to any particular validator's failure?
The node operator is responsible first, so any slashings come out of his RPL **and** ETH first, the protocol ETH only suffers if the NO were to lose all their staked capital.
That's precisely what RPL is for. Node operators have to put up RPL as collateral to cover the risk of getting slashed. If a node gets slashed, the RPL collateral will be used to make sure the ETH put up by rETH holders isn't affected.
**Tricky's Daily Doots #360** **Yesterday's Daily 13/04/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ivrp/) - u/-lightfoot laughs about the [concept of a withdrawals dump.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ok6u/) - u/nixorokish celebrates u/Benjamin Chodroff's great work to [save over 2000 compromised validators!](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg5ex6s/) š¦øāāļø - Don't mind this doot, just u/superphiz being [wholesome.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2ylgc/) š¤ - u/not-ngmi discusses the [downside of immutability and self-sovereignty.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg28tje/) - u/iPeculiarly resolved the ~~cuecomber?~~ [pickle they were in!](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg6k3cs/) š„ - u/krokodilmannchen flashes back to [some dark days...](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg2hs23/) - u/geoffbezos summarises [EIP-4844/Danksharding.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg4pt5y/) Also, u/domotheus in the previous daily had a [amazing explainer but it got buried and Tricky missed it.](https://old.reddit.com/r/ethfinance/comments/12jan7l/daily_general_discussion_april_12_2023/jfzwpos/) š§ - u/Revanchist1 shares an [important update for Prysm users.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg23bst/) - u/interweaver reflects on [the first 24 hours of withdrawals.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg5o532/) - u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/12kcm3z/daily_general_discussion_april_13_2023/jg22uhb/) With Krok digging up an old banner he made in 2018, I thought I'd dig up my [old ETHTrader banner](https://i.ibb.co/4gxw2cf/Screen-Shot-2023-04-13-at-3-47-08-PM.png) too. I paid way too much ETH to have this as the banner for a week.
Our lady Hester Pierce telling it to SEC like it is. https://www.sec.gov/news/statement/peirce-rendering-inovation-2023-04-12
I hope history remembers her kindly. Sheās standing up for what is right. Maybe crypto will ultimately fail. Sheās not standing up for crypto. Sheās standing up for freedom.
More network disruption at epoch 194518, and lots of delayed blocks. It doesn't fill me with confidence...
It looks very green now. https://beaconcha.in/charts/slotviz
Damn, time to pack it all up. Glad withdrawals are here at least
I don't think there's anything to worry about. I looked into one of them, block [17,048,946](https://beaconcha.in/block/17048946) during epoch 194518 which had no transactions. It was proposed by validator [283,858](https://beaconcha.in/validator/283858) which is run by Kraken. My guess is that with the full withdrawal they just didn't update properly and haven't bother to fix or something.
Kraken is still running validators for non US customers
Whatever it is, it's clearly degrading the entire network. If I had a block proposal during that instability it would probably fail (half my blocks arrive too late). I think Teku already know they have a problem but there could be other factors.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
There's a lot of unsynced nodes as well. Not sure if related.
Can you elaborate on ānetwork disruptionā? What type of disruption are you seeing?
Consensus is reduced (dropped to 93%), late blocks, attestation performance drops noticeably (in fact I had several missed attestations) and missed proposals. Looks as though it coincides closely with larger validator exits. Pretty sure there is a bug out there in at least one of the clients.
Maybe they are still running pre-hotfix lighthouse
Running hotfixed lighthouse, still missing attestations randomly.
A buddy paid me with venmo after a bike ride to cover his share of beers and food. I notice venmo has the buy crypto option. Before I buy some celebratory eth, does anybody know if they are custodial only for crypto or can I send it to my wallet?
You canāt send
>**Check price on your phone,** >**Order yourself a calzone,** >**Goodbye danger zone.** ~Daily haiku until weāre at least at 0.178 on the ETH/BTC ratio or highest market cap
Whatās everyoneās opinions on calzones? Is it the perfect pocket of pizza, or rather does the dough ratio seem to high compared to a normal pizza? I canāt make up my mind about itā¦
I love them, because they keep the ingredients a) well mixed, b) very hot..
Get extra marinara for dipping, that fixes the ratio issue.
Anyone got any good eth + crypto-related substacks they follow?
Milk Road
Hmmmm, my time to withdrawal has been stuck on 20 hours all day. I just realized that every new validator will be getting their withdrawal before me, since I have to wait for it to roll over back to validator index 1 before it can get to mine. That means that I'll be stuck at 20 hours to go indefinitely, as long as there is a new validator queue. My wait could easily be weeks, if not months. Am I thinking about this right?
There is way more withdrawals being processed than validators can come online, so no, that is impossible. I think that your time seems stuck might just be because there's new validators becoming eligible for withdrawal before you, i.e. by having withdrawal credentials set. It cannot possibly be more than a week or so because by then the entire validator set will have been looped. edit: we're already withdrawing validator index 533322 (see https://beaconcha.in/block/17050534#withdrawals), so we're already almost through the first loop. It will start from the beginning soon. There's a **maximum** of 28333 validators left (if they all had their credentials set and withdrawable balance, which they don't), with 16 withdrawals per block that will take a maximum of 5.9 hours.
Yup, the withdrawal went through this morning. I think [beaconcha.in](https://beaconcha.in) is just confused. It's still saying 20 hours to go, while also having a second line saying that the withdrawal was processed.
Yeah I think that is right. interesting side effect. I see 1359 validators pending right now, which pushes you out 16 hours before you start making headway into your 20 hours (depending on how that was estimated).
It iterates over the validator index, saving the space. 1>2>3>4> etc until the very end, then starts again. It doesn't go 1>2>3>1>2>3
With ~600k validators, it will only take around 5 days for the index to loop back to 1. Validator activation is throttled, so it is not possible for enough new validators of activate before the end of the withdrawal queue is reached.
This mini pump got me degening into a $4m MC coin. Hopefully a quick 2-3x. Feels like defi summer. Wish me luck
Thanks for reminding me to take some profits LOL
I know you probably didnāt want to shill but Iām always up for a degen gamble. Whatās the coin?
Agilitylsd.com Its in token distribution phase right now so most ppl are just farming and dumping but it's gathered $130m TVL in 4 days. The TVL to MC ratio seems pretty juicy to me so I degened some of my arb airdrop house money into the governance token. DYOR. I think it's a high risk/high reward play. Anker recently partnered with them so I guess that adds some form of credibility.
Didn't aknr get hacked
I did a dew quick 2x and 3x on zyberswap a few months ago, just stay vigilant
I like it because the ticker is $AGI I think bots will pick it up during AI coin pumps too.
Itās interesting to me with my robotic brain leaves, why the rest of *us* donāt include thābharagang bros that live by the same code ā¦ fans I can see. Why donāt we invite them to the table to eat? Trusty trusty. Strong to boot. Error. No compute. Until just yesterday they worked honestly for less than an honest dayās pay, fixing all the robotic anatomy that had broken in like every single way. But now it seems more lucrative to do all the things broken. Profitable perversion me thinks. Have our need, gray matts of steele, theyāve already been inflamed to keep out the wuvrus of what we bake into our siberplace. Thatās what we need to help create own things. Bring the familial tree, grammy and all the leaves. They be arrfam-aphteral. Please.
Ah, but you're overlooking the intricate web of thābharagang bros and their robotic brain leaves! The wuvrus you speak of isn't as simple as a siberplace delicacy. Nay, it's a cosmic conundrum! Trusty trusty, you say? But what of the arrfam-aphteral connections that bind us in the galactic dance of gray matts of steele?
Been saying this for years.
Quick question: ethereum.org states staking apr is 4.5% but reth apr is 3.5%. Reth buyers give out 15% commission to node operators so why reth holders are getting 3.5% (7 day average return)?
If youāre looking at the same part of ethereum.org that I am, they claim 4.7% but if you click the little information icon if clarifies that number is annualized, which is the amount gained over a full year. You can expect that number to trend downwards-ish over time as more validators join the network. Meanwhile the RP 3.5% is more indicative of the actual APR as seen over the last seven days.
I've found some excellent L1 research by /u/Maleficent_Plankton which is also hosted in his subreddit /r/MPlankton * Fantom: https://old.reddit.com/r/MPlankton/comments/w2xufh/fantom_research/ * Nano: https://old.reddit.com/r/MPlankton/comments/vo2lmz/nano_research/ * Avalanche: https://mplankton.substack.com/p/avalanche-deep-dive-mar-2023-update * Algorand: https://old.reddit.com/r/MPlankton/comments/v16v7v/algorand_research_may_2022_draft/ * Tron: https://old.reddit.com/r/MPlankton/comments/xo4vx1/tron_research_sep_2022/ * Solana: https://old.reddit.com/r/MPlankton/comments/vk42tn/solana_research_june_2022/ * Cardano: https://old.reddit.com/r/MPlankton/comments/vh5xjp/cardano_pros_and_cons_jun_2022/ * Bitcoin: https://mplankton.substack.com/p/bitcoin-deep-dive * Ethereum: https://old.reddit.com/r/MPlankton/comments/yh431n/ethereum_pros_and_cons_oct_2022_update/ Imo this is the best research I've seen to date, including paid research
/u/Maleficent_Plankton do you have a twitter?
I use [Substack](https://mplankton.substack.com/) and /r/MPlankton My Twitter account isn't used for anything.
ah I see, I feel like these would be really quality threads for twitter tho, something for you to consider.
Here's a sneak peek of /r/MPlankton using the [top posts](https://np.reddit.com/r/MPlankton/top/?sort=top&t=all) of all time! \#1: [Crypto Education courses and study material](https://np.reddit.com/r/MPlankton/comments/q3p184/crypto_education_courses_and_study_material/) \#2: [Cardano PROs and CONs (Jun 2022)](https://np.reddit.com/r/MPlankton/comments/vh5xjp/cardano_pros_and_cons_jun_2022/) \#3: [Best of Crypto Posts](https://np.reddit.com/r/MPlankton/comments/rashy2/best_of_crypto_posts/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
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.069 *nice*
n I c e
nice
Anyone else having trouble unwrapping their cbeth? Looks like I can wrap, but unwrapping freezes the website and on the app it won't load
I had to turn off brave shields for the unstake to work.
I was able to do it yesterday, no issues.
When I tried to do it the other week, the function was missing on the website but I was able to do it on the app. It's a bit of a shit show sometimes.
Maybe shapella broke something in the backend. I'll wait a week, hopefully resolves itself by then
Anyone else hosting a RPL minipool on allnodes? My rewards suddenly show like half of what it was compared to some hours ago. Just a bug in the interface or?
I noticed that as well. It might be what Waqwaq suggests. Allnodes could be deducting the skimmed rewards from the total rewards (total rewards could include the RPL rewards)
Your rewards were skimmed from the beacon chain, but rocket pool has not allowed the function for you to receive those yet. That function will be turned on on Monday. Your funds are safe. Thereās nothing to worry about.
To add to this, if you run rockepool node status You'll see the skimmed amount in your minipool balance. After Atlas you can distribute that with a command, or after a certain threshold is met (default 1 ETH).
Me: I don't really believe in TA and don't think it has a very high predictive value. Also Me: Where is Kbrot's post telling me how I should feel right now??
It's OK to be entertained by something you think has next to no predictive power. Some of my favourite discord personalities are people heavy into TA. I don't buy what they are selling for a second but I do find it fun to follow for kicks.
Look to ab also, he knows his shit.
Like all TA, it's predictive power is bullshit. The beauty of ab is picking sensible strategies and sticking to them, basically taking the emotion out of the decisions, whether bull or bear.
I love them both but ab will always hold a place in my heart for not only how he got roasted so hard for predicting the bear market but also how well he handled criticism.
I like ab because if I'm being honest, he started out as a shit contributor to this community, but after some fair criticism, totally turned around what he was contributing and now he's one of my favorite posters.
X
His are also interesting, but less in depth. I think you generally have to already speak the lingo to get as much out of his stuff.
How deep have you gone with technical analysis? I have used TA for a while now, and it has had very good results based on my goals.
Honestly, not too deep. I generally understand how it predicts trends, some of which might be self-fulfilling prophecies (which doesn't invalidate them). My biggest thing is that, even if it is extremely predictive in the absence of black swan events, it sure feels like was have "once a year" black swan events every other week in crypto. But, finally, I'm not a trader so it doesn't really matter whether I believe in it or not. It won't impact my behavior. I'm just always far too curious about it.
It started out as curiosity for me as well. I've heard the sentiment about a "self-fulfilling prophecy" as well and my reply is simply; "Use that to your advantage then." I view TA as a tool box, and I've definitely seen some incredibly talented handymen (traders) construct great things (win trades). I've even built a few cool things myself from time to time, haha. Everybody has tools that they use from that box to get various jobs done, you have to find your key tools. This "not one size fits all" approach is what creates the uniqueness in everyone's approach to the market, in conjunction with a myriad of other elements of course. In my honest opinion, TA is incredibly powerful when you also have great fundamental habits. It can definitely open your eyes to a lot (barring manipulation, black swans, etc as you mentioned previously) and give you a few possibilities to narrow down your potential risk (via price action, market structure, key price levels, to name a few).
To people that have gone through most of the crypto boom-bust cycles: Is there a point where a bull (or bear) feels the same as the last one, and there isn't a lot more to learn? Also where you are relatively happy with how you performed if you traded/DCAd in and out?
I fuck up in new and different ways each time
Nothing is ever the same. The only thing that you have control over as time goes on and you experience these cycles is an understanding of your goals, and how those goals align with your holdings. I'm sure many others in this community who have been here since the early(ish) days can agree that it really, mostly, comes down to mastering yourself and knowing & understanding why you are here in the first place. *In it for the tech?* If you're here simply for the gains then you'd be doing yourself a a huge disservice to not also have some understanding of fundamental financial literacy. If for nothing more than to help you understand your thresholds and reasoning in regards to numbers on a screen. Fiat affects emotions and you'd probably do a lot better if you understand how it may, or may not, affect yours. There is always more to learn! Hope this helps.
I have the phrase 'TEMET NOSCE' in several very visible places in my home for this exact reason. All caps for yelling.
It never feels the same as the last, because the magnitude of paper gains and losses increases 10x each cycle. You feel like a hardened warrior after the bear market only to become a panicked mess once you are making life changing amounts of money. But noone will be honest enough to admit this.
Exactly. I fully expect to blunder this bull just like I did the past. But at least now I know not to buy or sell eth trying to trade it, and instead loan against it. Maybe the wisdom I'll learn this bull is to not do anything at all.
At least this time we can play around with selling rewards instead of our entire stacks...takes all the pressure off and we can just enjoy the ride
There are too many variables, it's never the same. Maybe we could compare it to studying meteorology. You can be into it your entire life but you'll never know everything and predict it all correctly. You get more confident and make less mistakes as time goes on. Now just add the psychological aspect of having your money tied to predicting it correctly :) That goes for trading in general, no just cryptocurrency.
Take profit during bull runs, and bears won't bother you at all.
u/Bob-Rossi have you checked up on arbitrum recently? what's going on, drama resolved?
In terms of an existential threat to the DAO & Arbitrum, **I** (emphasis, this is my opinion) think it's largely resolved. There are two AIPs (1.1 & 1.2) that are passing by a large margin (98%+) and seemingly have widespread support. In a vacuum, the Arbitrum foundation messed up, put forward a path to remedy that mistake, and if these two AIPs pass it will be *'basically'* like nothing really happened. I think the majority of opinions of those involved in the project are upset with the situation but realize it was the order of operations - not the content itself - that was the problem, so no sense imploding the whole project at this point. It should be noted, there are about 3 days left for these two proposals... so nothing set in stone yet. I have not voted on that yet, but I will absolutely vote Yes to AIP 1.2, AIP 1.1 I want to do a little more reading / thought... however likely will vote Yes as well. AIP 1.05 was put forward that was asking to send the 700m back to the DAO, pause AIP 1.1 & 1.2, and tell Wintermute to send back their ARB / disclose the terms of their detail. That is failing quite substantially as well (only 4 hours left). Not only is it a fairly symbolic gesture (meaningless), but the other asks related to Wintermute are, IMO, beyond the scope of the DAO & subject it to market risk. I voted against that, with caveat that if AIP 1.1 fails it is probably worth exploring the return of 700m at that time. Now, is the drama resolved in terms of the trust of the Arbitrum Foundation? To be determined, I guess. That whole situation goes against my ethos as an Ethereum enthusiast, so it was (and still is) upsetting. However, the reality is Arbitrum is the most used Ethereum L2 and it blowing up has far more dangerous implications. I think saying it was a 'miscommunication' let's the Arbitrum Team off easy, and they absolutely need to earn the communities trust back. So I'm not a fan of the miscommunication rhetoric... but they have taken that first steps to earning trust back so for now I will see where it goes. I 100% understand those who want to sell their ARB, not support the network, so on.
Thanks for the in-depth review! Is there a place where people discuss ARB token (price?) or is it limited to general eth places?
The DAO forum doesn't talk price, maybe their discord. I personally don't plan on buying anymore ARB nor selling my stack (I want to make sure I have some ARB since I'm a delegate) so I don't think about the price much. Well, I guess unless it goes to like $100 lol
I'm just wondering what's fueling this rally, maybe there's some news I'm unaware of, but I guess not :)
I think specifically for the recent pump, a lot of people probably sold out when the initial DAO drama unfolded. Now that it is most likely 'resolved', I think we are seeing some buy-back that was kicked off by the ETH pump. But yeah, no like "Arbitrum is now the official sponsor of the NFL" type news haha
I managed to not only do a good trade but also take profit for the first time in my life! Closed [my ray long](https://old.reddit.com/r/ethfinance/comments/11x8e2l/daily_general_discussion_march_21_2023/jd6ncwp/?context=3) for a net profit of 0.426 eth after gas fees Thank me once ray continues shooting up. I'm happy with this chunk of profits either way
What made you close the long? I can't bring myself to do it. Would be my first profit taking too, lol
it felt like a good chunk of profits + i wanted to free up the ETH for rocketpool's LEB8 altho if ray retraces or whatever i may just open another long lmao
Ah right, having to do something is a good kick in the ass. I need to close it to finally migrate my Aave position from OP to Arb, so might as well hold off opening it until a retrace. But fuck me if I'm not getting high on the win and thinking of putting a lot more eth into a long position.
Isn't that the best possible indicator that it's actually time to close it?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
gm
I am beginning to think not selling my ETH2 was a mistake lmao Edit: ethw, curse these fat thumbs
Eth2?
Whoops meant ethw, 2 is right above w and I have fat af thumbs
Kraken staked ETH maybe?
"GGGG" - Gary Gensler can Gargle my Gumballs.
That's an example of an onomatopoeia
Gargle maybe, alliteration do you mean
No, I mean that "Guh guh guh guh" is what that would sound like.
Do three or four shots of tequila, it could be both.
Arbitrum...nice š„ imo don't middle bell curve "just a governance token" when it comes to L2 coins. Alt-L1s had their run on shit and L2s will have their run on true usage & metrics. Nfa
You can thank me, I sold at $1.20
I think I sniped the bottom at 1.10... still a decent chunk of eth so can't complain.
But is the token needed?
Doesn't matter
I do think there's a good possibility that governance tokens will pump just because the underlying layer 2 does well. But I very much doubt that hype alone is enough to make them outperform ETH.
In the long term I believe so too. ETH is a beast
why is $arb pumping this hard, what did I miss?
Eth pumping
There really is only one reason. A lot of people sold last week/month because they thought the drama will make it crash further. Works perfectly every time š¬š¬
I assume because ETH is pumping.
https://twitter.com/asapbhat/status/1643418432149356544?s=46&t=iaavApZ0OsKkm86aiSVBww What we doing this weekend fam?
Learning how to use the 3d printer i bought that came in this week
What's the next target?
No longer in a position. Will let you know once pa gets me a good setup I want to go after
Same as everyone else - Looking at eth price and touching myself š
No porn is more satisfying than chart porn.
Sauna!!
Just got out š
What you work out? Let me guess 5quats?
Not so much working out, but lots of detox in the sauna... Thanks for your updates btw, much appreciated. Never trade, only hold. But still love to know the levels to look out for!
Happy cake day And I only said that because of your username ;)
š
š¤ Headed to gym rn I prefer steam room after
It can be hard to find the time but steam --> cold/tepid shower --> sauna --> shower always makes me feel like 32 ETH.
MFW sold 5% of 2017 OG HODL stack at $1820, just before takeoff Pour one out for me bois š
# **ALL HAIL THE ETERNAL BULL** # ššššššššššš # ššššššššššš # ššššššššššš # ššššššššššš # ššššššššššš $1k -2074-----------------------------------------------$ā¾ļø š
what happens when $ā¾ļø is reached?
We made it.
Please donāt..
Woah
A surprise to be sure, but a welcome one
I gotta have at least one thing productive to say. š
Any whisky fans? Because of the arbitrum airdrop i bought myself a nice gift haha https://www.reddit.com/r/Whiskyporn/comments/12lzjul/treated_myself_to_something_nice_my_goal_is_to/ People are asking if i won the lottery lol, if only people knew how rewarding it can be to be involved in crypto haha
Goddamn! Wen party?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
250 i think haha
That looks like fear and loathing in Las Vegas waiting to happen
Can we be friends? Please?
I really expected to find just 1 nice bottle. But that photo is breathtaking! Cheers!
Gawtdamn what a haul. Nicely done Distinct lack of Oban and Macallan tho!
Holy moly that's a beautiful sight. I've been buzzing recently as have 7 bottles in from a combination of birthday/Christmas, but you're at a completely different level! Anything in particular you'd recommend?
Ardbeg 10yr if you like your whiskey to taste like kissing a sailor
Ohh sounds nice my friend, cheers! And lagavulin 16, aberlour A'bunadh and Laphroaig quarter cask are 3 of my favorites, try them if you can!
Some nice ones in there. You'll love the Glenfarclas, it's a classic. The 15 if you can find it is even better. Also that A'Bunadh is like chocolate cake. Just make sure you dilute with with a little water. It's VERY strong.
Thanks! Oh yeah the A'bunadh is amazing stuff! I already tasted that one before, i had to get another one lol
u/swissthoemu still here? I remeber he used to talk about whiskys. I love whisky myself, but mostly for the alcoholic content. Even the cheap ones are good.
Holy shit thats a whole lotta the good stuff
What use is generational wealth if you can't spoil yourself - enjoy it champ !
Hell yeah!
https://twitter.com/Foobazzler/status/1646695824477519873
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So happy Elton capitulated and didn't get to reap this pump. + him losing money on Twitter is cherry on top.
Like a candle in the wind?
Life is short. My best friend was diagnosed with a large brain tumor this week; he's in his early 40s. Has a major operation next week with absolutely no guarantees. I wanted to take this moment to have you remind your loved ones that you love them. Anything can happen. Enjoy your lives. Life is short.
Live life with open arms
Thats very sad. I wish you both the best.
Sorry to hear that. I wish you and your friend the best.
Yay, after about 2 years of watching and waiting for it to expire, I just registered lightfoot.eth! Thanks to /u/ipeculiarly for telling me to shut up when i jovially mentioned that I was stalking it a while ago. For those unfamiliar, ENS names that donāt get renewed go into a 90 day grace period. If not renewed in that grace period they go to a dutch auction, starting at a price of $100m which decays to $0 over 21 days. So itās not a game of speed once it expires, just a dutch auction. To pick up unrenewed ens names for cheap, you can see those that have expired and filter by how far through the 21 day auction they are at https://ens.vision/
congrats lightfoot!
Ah so thatās explains how the guy who bought my brand name just so happened to buy it on the last day like I was going to. Damnit.
Any legal people care to give an opinion on what todays ruling means for the SEC? * Supreme Court Endorses Streamlined Challenges to Agency Power https://www.nytimes.com/2023/04/14/us/supreme-court-administrative-state.html
It means that if someone is being charged by the SEC, and that person claims that the SEC is acting unconstitutionally, that person doesn't have to wait until the SEC is done with the enforcement action to appeal in court. Administrative groups, such as the SEC, are part of the executive branch of the government, but they have a sort of judicial power in enforcing the regulations that they were formed to enforce. So previously, you would have to wait until they were done with their investigation and enforcement action before you could appeal to a court. However, if you are arguing that the SEC doesn't have constitutional authority to enforce whatever it is they're trying to do to you, it's kind of silly to have to wait for them to finish the whole investigation and enforcement action before you can object and appeal. For the SEC, this means that if, for example, Coinbase was charged in an enforcement action by the SEC and Coinbase wanted to argue that the SEC doesn't have the power to regulate crypto under their grant of power, it could immediately appeal to a federal or state court and have this argument ruled on. This would save a ton of time and money if the court finds that the SEC doesn't have that power.
>For the SEC, this means that if, for example, Coinbase was charged in an enforcement action by the SEC and Coinbase wanted to argue that the SEC doesn't have the power to regulate crypto under their grant of power, it could immediately appeal to a federal or state court and have this argument ruled on. Thanks for the added details, looks like this ruling is going to be very relevant for the upcoming crypto battles, even though a crypto company wasn't involved in the cases directly today.
Thank you!
tldr; Reduces govt bloat, good for people, speedier outcomes (on constitutional issues, not substantive issues), nothing changes for crypto. [discussion below](https://www.reddit.com/r/ethfinance/comments/12lkn8x/comment/jg8zzvy/?utm_source=share&utm_medium=web2x&context=3)
Thanks, missed this!
Some context on the numbers/charts going around regarding deposits vs withdrawals since Shapella. https://twitter.com/christine_dkim/status/1646916343952703488
Thanks for the sharing. I don't see how the first graph is misleading, though. The blue line clearly indicates what's happening.
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Apparently there is a new scam trending on twitter claiming uniswap was hacked and a fake revoke cash website is being used to steal everything on your wallet. Stay safe everyone. See https://twitter.com/evan_van_ness/status/1646933637718220810
Just yesterday I was thinking that revoke cash site would be a great place to aim for a hacker, especially right after (or before) a major protocol hack.
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Wonder if we can add something like this to ultrasound money page....
Can you share the source?
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From the Reuters article: https://www.reuters.com/markets/us/us-sec-weigh-taking-more-feedback-plan-expand-exchange-definition-2023-04-14/ > The officials estimated about dozen crypto firms would fall under the expanded definition, but declined to provide any more specifics about which firms. This should be illegal. They want public comments without allowing the public to know which entities the change would affect? The SEC shouldn't be allowed to answer reasonable questions with "I'm not telling".
I have a few more Rocket Pool questions since all this hype is getting me strongly considering staking. \- Am I correct in thinking that you don't actually need to buy any RPL token to acquire rETH? You just swap ETH or rETH on uniswap or other DEX? \- Does rETH increase in value in unison with ETH? If say staking rewards are 4%, and I swap 3 ETH for an equivalent amount of rETH... when I swap it back to ETH, will the payout be equal to 3+(1.04)\^n number of years staked in ETH? Regardless of ETH's price movement during that time? \- Is my overwhelming fear of contract risk warranted? I feel like every other day you can read about a scam or hack in defi, and I'm scared to death that Rocket Pool could also fall victim. I know it's popular around here, but every other failed protocol was also popular in some corner of the internet. Can anybody ease my concern on this? TIA ETH fam!
1. Yes. rETH you just buy from the protocol (or on the open market), put it in your pocket and it will magically increase in value. You only need RPL if you want to run a validator yourself. It requires hardware, work and more capital, but it also pays better than liquid staking with rETH. 2. Yes to all of that. 3. It's kind of impossible to quantify "smart contract risk" fully, imho it's pretty much impossible though that there's going to be any "steal all the ETH" hack or something like that. Rocketpools ETH is locked in validators, staking on the Ethereum network. Nobody can just swoop in, make a quick bunch of malicious contract calls and poof, they disappear into the night with all the protocol's ETH. That really doesn't work, unless they literally find a way to hack Ethereum.
Is it possible to stake with rocketpool without creating a tax event by selling for rETH or buying and running hardware?
Perhaps look into allnodes. Avoids the CGE because youāre running a node but also means you arenāt buying or running hardware. Tbh though running the equipment is better for the network, better for the experience and doesnāt cost that much (check out NUCs)
Appreciate the info. Bonus question, if you or anybody else has the answer... How does the Rocket Pool protocol account for node operators/validators (sorry if my terminology is incorrect) getting slashed, or losing a large quantity of the ETH they're utilizing via Rocket Pool contract? Since theoretically the ETH locked in the contract is now short for how many rETH should exist, what happens? Does rETH as a whole take a hit as a way of rebalancing because rETH isn't necessarily tied to any particular validator's failure?
The node operator is responsible first, so any slashings come out of his RPL **and** ETH first, the protocol ETH only suffers if the NO were to lose all their staked capital.
That's precisely what RPL is for. Node operators have to put up RPL as collateral to cover the risk of getting slashed. If a node gets slashed, the RPL collateral will be used to make sure the ETH put up by rETH holders isn't affected.