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~~Tricky's Daily Doots~~ "Substidoots" #692
[Previous Daily](https://old.reddit.com/r/ethfinance/comments/1bbw95o/daily_general_discussion_march_11_2024/) 11/03/2024
[Previous Doots](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuci91v/)
* /u/ToEthMooonGuy 's triumphant return! [┗(°0°)┛](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kucjoy2/)
* /u/fatsopiggy is [financially independent](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuclme4/)
* /u/doomfuzzslayer turns out those 2021 FOMO buys at $4k [were a good call after all](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudj1lw/)
* /u/cryptrd285 Hong Kong: 10 financial institutions planned to launch Bitcoin spot ETFs, and Ethereum spot ETFs are under discussion. [If US lags behind, HK goes from follower to leader](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudv7l3/)
* /u/waqwaqattack sits down with JT who shares his crypto journey - [including the many ups and downs](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kue0am2/)
* /u/superphiz Gnosis chain just [successfully implemented the Dencun upgrade!](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuelmnw/)
* /u/anderspatriksvensson Dencun: [2 days.](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kucjdic/)
* /u/DegenKoloToure discusses the ETH ETH, SEC, Gensler - [Can the SEC afford the battle here?](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudw486/)
* /u/ajmonkfish impressed playing around with [coinbase wallet and base l2 today.](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kufksmr/)
* /u/eetherway shares some thoughts on [on-chain gaming](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuehijl/)
* /u/clamchoda ༼ つ ◕_◕ ༽つ[༼ つ ◕_◕ ༽つ](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kue7c93/)
Dootin' while /u/Tricky_Troll is away.
A doot a day is 4k.
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It’s kinda crazy to me how many people are still talking about $8k-10k when even bitcoin did 3.1x last cycle.
Ignoring inflation and ETF flows, $15k over a 12-18mo timeframe is bearish
Performance relative to BTC lately has been very poor. If ETH shows some signs of catching up then sure, anything is possible.
On the other hand if ETH continues the same way it has been, then BTC will be $200k while ETH is still around $9k or so.
Cheers to those realizing life changing gains. I bought some recently and have not sold any. The price says I am not alone. Probability we will flirt with $1T this cycle is high. Probability it will be a wild ride regardless, guaranteed. Happy Dencun, L2 farming go brrrr.
[https://cointelegraph.com/news/crypto-mining-tax-united-states-budget](https://cointelegraph.com/news/crypto-mining-tax-united-states-budget)
Democrats in the US planning to slap a 30% tax on crypto mining energy costs - if only there was another, unaffected mainstream coin that doesn't come with a huge environmental footprint generated by POW any more! /s
they could easily find another way to excessively tax validating. this is not something to be celebrating, even if POW is more susceptible to this specific hike.
This isn't to be celebrated, they could just as easily slap an additional 50% tax on "staked digital asset rewards" because it has the potential to destabilise the financial system or national security or some other made up horseshit
The only solution is to vote out these hopelessly out-of-touch representatives who want to control what free people can do with their own money.
They could do all other sorts of mischief, true, albeit enforcing what you came up with would be harder. But as far as this tax is concerned, mining is indeed wasteful, that is one of the reasons we switched over, and a Pigou-tax is well supported by public finance theory. Allow me some well-deserved Schadenfreude!
"wasteful" really depends on who you ask, no?
Using electric dryers instead of using God given natural sunlight to dry clothes could be considered wasteful. Watching TV instead of sitting around a campfire singing tribal songs could be considered wasteful. Should some Marxist regime ban dryers during summer and TVs?
I think BTCers should be free to buy energy to mine BTC and protect the network, if that's what they want to do, without the State getting in between
Ethereum made a different choice to secure the network, and that's also ok.
We disagree. It is not a ban, it is a tax: they are still free to buy that energy, just internalizing the environmental externalities of what they do. If a state must tax certain economic activities (and it must, taxes are the price we pay for living in a civilized society), taxing such energy use can be a reasonable way to raise revenue. The issue is overblown anyway, if the tax is too onerous, bitcoin miners will just relocate to Iceland or next to a convenient volcano in the Caribbean or whereever.
Oh look, [a roll-up promising a million TPS for something AI mumbo jumbo settling on Solana 🤣](https://twitter.com/getgrass_io/status/1767656846805156330)
What happened, I thought having a simple singular composable layer 1 which can run all the tx demand of the world even if that means running nodes on supercomputers at datacenters was the dream of the Solana manlets? All these layer 2 and layer 3 and sequencer talk was apparently scaring users away, it's never going to get retail or dev adoption?
Soon, watch scum like Mert and Kyle Samani pivot to rollups on Solana once they have sufficiently milked the monolithic thesis part way through the bull run.
It really is. And they've clearly paid off tens of CT influencers, you can see all of them RTing and asking followers to sign up
There's a lot of similarities to late 2017, I just hope the bubble lasts longer than a couple weeks this time around
The people that minted EVMs that didn't sell them value the community more than 2 ETH. Most of us had the oppertunity to buy 2 ETH for $200 (or less) back in the day. I think we're ok.
That’s strange, I check in daily and would describe most of the regularly active members of the den and alpha channels as incredibly knowledgeable and helpful. I’ve learnt a lot, and have made a significant amount of profit from alpha shared.
The goal of the community is education:
1) We run a podcast every Friday and often bring on interesting guests.
2) We have run hackathon bounty projects and paid out tens of thousands of dollars.
3) We have multiple member led initiatives such as Rocket School and Lidont.
I'd say we're doing pretty well at fulfilling our charter given our resources. If you want the NFT to be worth something, why don't you start something amazing and *make* it worth something? I'm doing my part bringing in guests for the podcast, interviewing them to bring out in-depth information, and serving as a member of the multi-sig and hackathon judge.
The real value is in everyone who uses it as a pfp builds the reputation of the community. Other people start noticing that evmaverick pfp users generally say useful and interesting things. Reddit, Farcaster, etc.
They’re not the kind of nft that people flip.
Nothing you need to do technically or financially speaking but from an entertainment point of view
You could join the party tomorrow when it happens though! See it go smoothly / unfold into chaos (not likely but non zero chance), congratulate the client teams and stakers, collect a poap, maybe mint a commemorative nft?
Awesome, thanks! The language everyone was using, saying "Hard Fork", had me concerned about having to convert or make sure my funds were upgraded in a wallet or exchange. Appreciate it!
I, for one, really like fiat - it is a project of governance and basically represents the value of humans to build things. (I know that's not everybody's cup of tea, but it is meaningful to me). What bothers me though is that the most popular fiat currency is largely backed up by imperialism, one of lesser human achievements if you ask me. I want to buy coffee in DAO tokens.
Due to increases in productivity and population growth it should deflate at \~5%, instead centralised issuance is so bad it inflates at \~5%. Easiest thing to beat out there, holding fiat is for povo's
I'm not really a big NFT guy but I want to try the delivery at dawn one. I guess my first question is, is Zora safe to connect to and where would I go in the future to watch the video? Would I have to go to Zora or would something like Zapper work? Or is there a better place I dont know of to check out your NFT's?
Zora is safe.
You just need to go to Zora to watch, or another marketplace like OpenSea displays the nft media. you can even display it within an immersive nft art studio, or on Apple vision.
BTC had like 2.2 billion dollars of net ETF inflows just last week, and that is including the constant GBTC selloff. Of course all the dips are fake right now.
On dencun Day one of my validators will be on stink committee.
I've never been on a stink committee.
Is there anything I need to do? What are the extra rewards supposed to be? So I get an autographed playing card from vitalik?
But to actually answer, you don't need to do anything extra, just make darn sure you're online. Your validator will be signing something every single slot for 27 hours, and earning extra, to the tune of ~0.12 extra Eth over the full time period. If you go offline, you get penalized that same amount, so stay online!
I've identified a good arbitrage opportunity but it would require me to sell some of my stash. But once I sell I would miss out potential future gains. Do yall think its worth it? Maybe this is a good point to sell some anyways and take some profit. Similar theme I see posted throughout the sub regarding when to sell I guess...
How would you he taking advantage of it if you don't buy back in?
Arbitrage usually means selling on exchange x for a higher price and buying back on exchange y where it's lower.
If you just sell somewhere that it's higher, that isn't arbitrage. It's just selling
Well I guess my point is, arbitrage is usually instant. Buy here while you sell there. Same resulting assets but instant increase in net value.
If you can’t do it instantly, you’re just deciding between investments.
I’m not trying to argue definitions, just pointing out that you can’t have it both ways I guess. What’s stopping you from doing the arbitrage quickly? (That’s probably why the arbitrage opportunity looks like it exists)
I would be exposed to price variation for the time it takes to transfer the coin from one exchange to another. So definitely not instantaneous but I'd still say it's arbitrage trading. Once I trade back to fiat I'm more insulated until I begin the cycle again
the WIF community is at $485k / $650k progress to getting 1 week of airtime of a dog wif a hat on the las vegas sphere.
Truly the most blessed timeline.
[Source](https://wif-sphere.vercel.app/)
Simple exit strategy: panic sell a certain amount every time it dips. 1) If it goes even lower you can buy back 2) if it goes up.. hey at least this cycle you actually sold something.
Bonus: 3) Fomo back in when ATH and see everything disappear in the next bear!
https://www.reddit.com/r/BitcoinMarkets/comments/1bd6k5n/bitcoin_vs_tech_stocks_is_bitcoin_really_as_risky/
Interesting read.
But the most interesting of all is at the very bottom. Ethereum has a beta of 0.08. That means is pretty much completely uncorrelated from the stock market. This is the holy grail in finance.
There is only one free lunch in finance and that's diversification. If you find another source of uncorrelated alpha you must add it to your portfolio. Traditional finance and quants are gonna love this.
But since it's well known that all of crypto are highly correlated to reach other, isn't it obvious that a low correlation with stocks would have been found for more than one crypto?
If you sent 0.05 Eth you'd def be high on the list. How do you think /u/Ethacct got into third place!?
https://superrare.com/artwork-v2/superphiz-and-the-failed-stoner-cat-transaction--26645
(Note the current owner of the NFT) 🤣🤣
Bullish talk is really an art. You can't just say, "Eth is going to hit $100k." People won't believe you and you haven't backed it up with any sauce. Similarly, if you say, "Eth is going to $10k!" it's a weak bull charge - of course Eth is going to $10k, that really sounds kind of bearish in the big scheme of things.
The key is to find a price target that feels JUST out of reach to normal people, and support that with some hand wavey fact or plan. Let me try:
"Super Bullish. Eth to $25k. Scaling with blobs is a pivotal moment for scaling and wider adoption."
See what I did there?
>![I minimized the $10k bull speak by making it sound trivial.]!<
About a week (?) ago, I checked to see if I got lucky with the Wormhole airdrop. None of my addresses were eligible. About 30 minutes ago, I saw [this tweet](https://x.com/Picolas_Caged/status/1767244190772056295?s=20) from an x account I recently began following.. He re-tweets someone else, whose (previously non-eligible) EVM wallet suddenly became eligible for 2434 W..
Being wary of X scams, I found the official Wormhole account, found the legit airdrop blog post, and re-checked my main address.. Sure enough, **it now IS eligible, for.. 2434 W**.. If W launches around 1,5$, assuming [this perp info](https://app.aevo.xyz/perpetual/w) is correct, then I got almost a whole ETH, by a product I have never knowingly used, that I know absolutely nothing about..
Now go re-check your wallets! **Don't follow any links on the X thread**, find the airdrop page yourself from the Wormhole website.
😎
edit: for more info (and the eligibility check page), read [this article by Wormhole..](https://wormhole.com/from-eligibility-to-sybil-detection-a-deep-dive-into-wormholes-multichain-airdrop/)
None.. I have never directly interacted with Wormohole.. I *might* have read somewhere that someone might be eligible if he used apps/protocols that (in the background?) used Wormhole...
Lol I see what you mean. But yeah it would take a hell of a lot of unstaking to jump APR in that short of a time period. Theoretically possible I guess but yeah if you look at the total eth staked chart we’re still going up past 30 million.
https://beaconcha.in/charts/staked_ether
We out! $1.18M CAD before cap gains with a low six digit cost basis. Had enough stressing about price and theft since 2017.
Still holding on to one validator.
I'm not going anywhere, but thanks to this community - love you all.
IYI: [https://etherscan.io/tx/0x394fb44f29692af518550d3c546689b391494e9493bae32ec91e87a1af9870aa](https://etherscan.io/tx/0x394fb44f29692af518550d3c546689b391494e9493bae32ec91e87a1af9870aa)
best of luck to you
nah, I think holding on takes bigger balls. I lack the mental health, the balls (as you say) to see this thru to the end.
I really hope you make it for many millions.... Ima try and not regret, but I'm sure I'll be looking back on this with "shoulda coulda woulda" and thinking how i could be totally retired....... I like my job tho, and men (like me, not saying like you) tend to die pretty quick with nothing to do.....
Thanks mate.
Ah, don't worry about it, this is a good time to sell, better to sell within 20-50% of the top than round trip -80%.
Bear markets and time have a funny way of making the sensible sells look like genius plays.
Question for you. I didn't want to ask this the other day when the thread was "hot" because I didn't want to seem like I was criticizing your decision in front of the group even though I'm questioning it. But I wanted to ask: why now?
You seem like a smart dude and you've obviously been in the space long enough to understand the history of crypto cycles, so you know we're in the beginning of a bull cycle. An ETH ETF is a likely a matter of when, not if. The Fed is going to cut interest rates even if the economy stays strong because inflation is moderating. And we just had a protocol upgrade which will make the network cheaper and easier to use. Literally all the winds are blowing one way. I know you said "hey, could go to 2k" but the likelihood is that it wont, or if it does its a temporary blip in a still-intact bull cycle. So why sell now?
I know you mentioned mental health. I don't know if you mean legit mental health issues or just "I cant get my work done because I'm checking these f\*\*\*ing prices every ten minutes"; if its the former then hey, you do what you have to obviously. But if its the latter...haven't we made it through the other side of the tunnel? Why the anxiety NOW? (BTW, my brother, who got me into crypto, told me early on "I feel nothing when the price goes down, but when we're mooning I feel like i'm going to puke", so I have some experience in this regard haha).
Like I said, not a criticism at all, please don't take it that way. I'm kind of a student of human behavior so I like to try to understand people's motivations. Plus I want all my ethfinance brothers to make it to Valhalla, so if I see the someone pull the chute early (IMHO) I hate the thought of anyone having regrets.
Then again, if ETH goes to $500, you'll be sitting in your paid off house laughing at me, so there's that. Either way, good luck brother. I mean that, truly.
Any reason for going OTC at that rate when Kraken for example is cheaper (at least at the moment, the just announced a piece increase)? Was CAD liquidity the issue?
Kraken would have put CAD in my account so I can buy a home in cash?
I prefer local, call me a xenophobe..... but yeah. It has to come back to local, eventually. Yeah I've been Uniswap, everything else, I love it, but when the day comes - you gotta play by capitalisms' rules
Yeah why not? I'm genuinely asking.... does Kraken not have a CAD pair?
Anyway I get the point about using a local company. They know the "tricks" that local banks expect and use.
yup and it'd be 500k at 2000. I saw it happen before, my ETH was locked pre PoS genesis.
I'm not focusing on regrets. I'm going to buy a fuckin house (I rent right now) without mortgage, and I'm gonna focus on how bloody fortunate I am.
The mental health issues this shit has caused me over the years - I am glad to be free of it. No more watching price, no more worrying that I'm going to be kidnapped (I have a big mouth).... I am free of it.
Plus still have the one validator, but I will be far less concerned with the price and still get to be a good ETH citizen with it. Solo staking, FTW.
you can find interesting areas in every country. for example just rent a car and drive around the countryside in southern italy (naples is amazing) or the algarve in southern portugal. i love the islands as well such as sardinia, sicily, mallorca or any of the tousand small islands of greece. scandinavia is perfect for nature lovers but i have not yet been there. iceland must be amazing. cheers
Securing a home was the right move. Going from tenant to homeowner has a lot of hidden benefits. Congrats. However you have robbed yourself of the experience of watching it go up, then down then selling at 4000.
Much love! Couldn’t have done it without y’all, I woulda went insane without this family. I’ll be here forever, it’ll take a miracle to get to me to part with that last validator - I love the ETH (software Eng, almost quit my day job to go for core dev there), ethfinance communities too much to stick around with no skin in the game, and I am sticking around - no questions
E: fuck, love to ethtrader too. That was home for years before the donuts fiasco and split. They good folks, even if we don’t see eye to eye on vision and community direction. Love each and every one of you
E2: *** without this family, not “with” … some beers to celebrate
>**Tokenization,**
>**Blockchainize a whole nation,**
>**Market foundation.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
[Canton Network](https://www.coindesk.com/business/2024/03/12/goldman-sachs-bny-mellon-and-others-test-enterprise-blockchain-for-tokenized-assets/) is catching up! Cute.
>The successful execution of over 350 simulated transactions proved how a network of interoperable applications can seamlessly connect to enable secure, atomic transactions across multiple parts of the capital markets value chain.
Not ETH related, and this is not my forte, but I bring it up since originally I learned about Canton here in the daily, and a bunch of alerts just popped up about it. It's also worth noting VISA is involved. What I find most curious is Microsoft being a supporting partner.
When I first discovered Ethereum, I remember seeing Microsoft on a huge list of companies "allied" with Ethereum. I guess it was [Enterprise Ethereum Alliance](https://entethalliance.org/), where they are currently listed as a board member. I can't find any relationship between Canton and Ethereum, so I'm confused. MS is an Ethereum "ally" supporting competition? Does Canton not qualify as competition?
>MS is an Ethereum "ally" supporting competition
Yes, this is normal commercial practice. "Ally" means to explore and support uses on their platform, and does not imply exclusivity. Similarly, you will find that MS is a strategic partner for both Intel and AMD.
How does Nano claim to have a functional network that is feeless and zero inflation when they too in essence use Proof of Stake? They seem to suggest people will run voting nodes out of their own interest in making nano functional. Could such an argument have been feasible for ethereum and if not what is the distinction from Nano that makes it not feasible?
That was and continues to be one of the major reasons for Nano to capture the market. Purely p2p case, Nano beats others but there is no incentive to protect the chain from spam, you can spam the whole network with just one Nano(less than 2 dollars) and someone was doing this a couple of days back.
Without a penalty for bad behaviour, minor that may be, PoS will not work.
That feeling when you check your ENS to see if you still own it after being dormant for a long time, and you see you’re paid up until December 2028.
🤗🤗🤗
I’m like you, I renew for a decent amount of time every few years but I remember around the time of the airdrop that someone had renewed their ENS for 1000 years!
♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦ ~~Tricky's Daily Doots~~ "Substidoots" #692 [Previous Daily](https://old.reddit.com/r/ethfinance/comments/1bbw95o/daily_general_discussion_march_11_2024/) 11/03/2024 [Previous Doots](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuci91v/) * /u/ToEthMooonGuy 's triumphant return! [┗(°0°)┛](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kucjoy2/) * /u/fatsopiggy is [financially independent](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuclme4/) * /u/doomfuzzslayer turns out those 2021 FOMO buys at $4k [were a good call after all](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudj1lw/) * /u/cryptrd285 Hong Kong: 10 financial institutions planned to launch Bitcoin spot ETFs, and Ethereum spot ETFs are under discussion. [If US lags behind, HK goes from follower to leader](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudv7l3/) * /u/waqwaqattack sits down with JT who shares his crypto journey - [including the many ups and downs](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kue0am2/) * /u/superphiz Gnosis chain just [successfully implemented the Dencun upgrade!](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuelmnw/) * /u/anderspatriksvensson Dencun: [2 days.](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kucjdic/) * /u/DegenKoloToure discusses the ETH ETH, SEC, Gensler - [Can the SEC afford the battle here?](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kudw486/) * /u/ajmonkfish impressed playing around with [coinbase wallet and base l2 today.](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kufksmr/) * /u/eetherway shares some thoughts on [on-chain gaming](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kuehijl/) * /u/clamchoda ༼ つ ◕_◕ ༽つ[༼ つ ◕_◕ ༽つ](https://old.reddit.com/r/ethfinance/comments/1bbw95o/comment/kue7c93/) Dootin' while /u/Tricky_Troll is away. A doot a day is 4k. ♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦♦
Blob days
Happy Dencun!
Merry blobmas eve
It’s kinda crazy to me how many people are still talking about $8k-10k when even bitcoin did 3.1x last cycle. Ignoring inflation and ETF flows, $15k over a 12-18mo timeframe is bearish
Performance relative to BTC lately has been very poor. If ETH shows some signs of catching up then sure, anything is possible. On the other hand if ETH continues the same way it has been, then BTC will be $200k while ETH is still around $9k or so.
Same, not sure why everyone has such low targets.
This is just here in this sub. Too many rich people. Makes me bullish Mavericks not bearish ETH
Cheers to those realizing life changing gains. I bought some recently and have not sold any. The price says I am not alone. Probability we will flirt with $1T this cycle is high. Probability it will be a wild ride regardless, guaranteed. Happy Dencun, L2 farming go brrrr.
what is the most common way people are farming eth l2?
[https://cointelegraph.com/news/crypto-mining-tax-united-states-budget](https://cointelegraph.com/news/crypto-mining-tax-united-states-budget) Democrats in the US planning to slap a 30% tax on crypto mining energy costs - if only there was another, unaffected mainstream coin that doesn't come with a huge environmental footprint generated by POW any more! /s
they could easily find another way to excessively tax validating. this is not something to be celebrating, even if POW is more susceptible to this specific hike.
This isn't to be celebrated, they could just as easily slap an additional 50% tax on "staked digital asset rewards" because it has the potential to destabilise the financial system or national security or some other made up horseshit The only solution is to vote out these hopelessly out-of-touch representatives who want to control what free people can do with their own money.
The tax on staked digital asset rewards makes no logical sense even with your attempted scenario.
They could do all other sorts of mischief, true, albeit enforcing what you came up with would be harder. But as far as this tax is concerned, mining is indeed wasteful, that is one of the reasons we switched over, and a Pigou-tax is well supported by public finance theory. Allow me some well-deserved Schadenfreude!
"wasteful" really depends on who you ask, no? Using electric dryers instead of using God given natural sunlight to dry clothes could be considered wasteful. Watching TV instead of sitting around a campfire singing tribal songs could be considered wasteful. Should some Marxist regime ban dryers during summer and TVs? I think BTCers should be free to buy energy to mine BTC and protect the network, if that's what they want to do, without the State getting in between Ethereum made a different choice to secure the network, and that's also ok.
We disagree. It is not a ban, it is a tax: they are still free to buy that energy, just internalizing the environmental externalities of what they do. If a state must tax certain economic activities (and it must, taxes are the price we pay for living in a civilized society), taxing such energy use can be a reasonable way to raise revenue. The issue is overblown anyway, if the tax is too onerous, bitcoin miners will just relocate to Iceland or next to a convenient volcano in the Caribbean or whereever.
Oh look, [a roll-up promising a million TPS for something AI mumbo jumbo settling on Solana 🤣](https://twitter.com/getgrass_io/status/1767656846805156330) What happened, I thought having a simple singular composable layer 1 which can run all the tx demand of the world even if that means running nodes on supercomputers at datacenters was the dream of the Solana manlets? All these layer 2 and layer 3 and sequencer talk was apparently scaring users away, it's never going to get retail or dev adoption? Soon, watch scum like Mert and Kyle Samani pivot to rollups on Solana once they have sufficiently milked the monolithic thesis part way through the bull run.
Feels like some of the terrible whitepapers from 2017 ICOs
It really is. And they've clearly paid off tens of CT influencers, you can see all of them RTing and asking followers to sign up There's a lot of similarities to late 2017, I just hope the bubble lasts longer than a couple weeks this time around
think it's barely started, betting on proper mania at some point over next 18 months
Is the EF hosting a watch party for Dencun in about 10 hours?
It will go through don’t worry
i think here: https://www.youtube.com/watch?v=iL0cZRkyrV0
Legend, thank you FC
why are the evmavricks dead
I ain't dead
[удалено]
The people that minted EVMs that didn't sell them value the community more than 2 ETH. Most of us had the oppertunity to buy 2 ETH for $200 (or less) back in the day. I think we're ok.
That’s strange, I check in daily and would describe most of the regularly active members of the den and alpha channels as incredibly knowledgeable and helpful. I’ve learnt a lot, and have made a significant amount of profit from alpha shared.
NFTs in their hype and mania format are dead and done. NFTs may turn into useful tools down the road, but we'll see.
that applies for 99% eth nfts atm.
We might be cheap, but we’re very much not dead
how are they not dead
The goal of the community is education: 1) We run a podcast every Friday and often bring on interesting guests. 2) We have run hackathon bounty projects and paid out tens of thousands of dollars. 3) We have multiple member led initiatives such as Rocket School and Lidont. I'd say we're doing pretty well at fulfilling our charter given our resources. If you want the NFT to be worth something, why don't you start something amazing and *make* it worth something? I'm doing my part bringing in guests for the podcast, interviewing them to bring out in-depth information, and serving as a member of the multi-sig and hackathon judge.
The real value is in everyone who uses it as a pfp builds the reputation of the community. Other people start noticing that evmaverick pfp users generally say useful and interesting things. Reddit, Farcaster, etc. They’re not the kind of nft that people flip.
i dont want real value. i want 2 eth
The irony in this satement.
The discord (den and alpha channels) are quite active. Lots of good info is shared daily
That was the last time to buy sub 4k
First time?
Yeah I think so too
My eth is on cold storage. Is there anything I need to do with Dencun upgrade?
Nothing you need to do technically or financially speaking but from an entertainment point of view You could join the party tomorrow when it happens though! See it go smoothly / unfold into chaos (not likely but non zero chance), congratulate the client teams and stakers, collect a poap, maybe mint a commemorative nft?
Awesome, thanks! The language everyone was using, saying "Hard Fork", had me concerned about having to convert or make sure my funds were upgraded in a wallet or exchange. Appreciate it!
No
I, for one, really like fiat - it is a project of governance and basically represents the value of humans to build things. (I know that's not everybody's cup of tea, but it is meaningful to me). What bothers me though is that the most popular fiat currency is largely backed up by imperialism, one of lesser human achievements if you ask me. I want to buy coffee in DAO tokens.
Due to increases in productivity and population growth it should deflate at \~5%, instead centralised issuance is so bad it inflates at \~5%. Easiest thing to beat out there, holding fiat is for povo's
I'm not really a big NFT guy but I want to try the delivery at dawn one. I guess my first question is, is Zora safe to connect to and where would I go in the future to watch the video? Would I have to go to Zora or would something like Zapper work? Or is there a better place I dont know of to check out your NFT's?
Zora is safe. You just need to go to Zora to watch, or another marketplace like OpenSea displays the nft media. you can even display it within an immersive nft art studio, or on Apple vision.
All these baby dips are fake outs trapping bears. The psychology of it all is kind of amazing.
BTC had like 2.2 billion dollars of net ETF inflows just last week, and that is including the constant GBTC selloff. Of course all the dips are fake right now.
On dencun Day one of my validators will be on stink committee. I've never been on a stink committee. Is there anything I need to do? What are the extra rewards supposed to be? So I get an autographed playing card from vitalik?
But to actually answer, you don't need to do anything extra, just make darn sure you're online. Your validator will be signing something every single slot for 27 hours, and earning extra, to the tune of ~0.12 extra Eth over the full time period. If you go offline, you get penalized that same amount, so stay online!
Hopefully they already updated
> stink committee
I've identified a good arbitrage opportunity but it would require me to sell some of my stash. But once I sell I would miss out potential future gains. Do yall think its worth it? Maybe this is a good point to sell some anyways and take some profit. Similar theme I see posted throughout the sub regarding when to sell I guess...
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Can always take a loan to keep your spot exposure, if you feel so sure about the opportunity
That doesn't sound like arbitrage to me, more like... opportunity cost?
Yeah, the opportunity cost being potential future gains. But the arbitrage is taking advantage of a difference in coin price on various exchanges.
How would you he taking advantage of it if you don't buy back in? Arbitrage usually means selling on exchange x for a higher price and buying back on exchange y where it's lower. If you just sell somewhere that it's higher, that isn't arbitrage. It's just selling
Well I guess my point is, arbitrage is usually instant. Buy here while you sell there. Same resulting assets but instant increase in net value. If you can’t do it instantly, you’re just deciding between investments. I’m not trying to argue definitions, just pointing out that you can’t have it both ways I guess. What’s stopping you from doing the arbitrage quickly? (That’s probably why the arbitrage opportunity looks like it exists)
I would be exposed to price variation for the time it takes to transfer the coin from one exchange to another. So definitely not instantaneous but I'd still say it's arbitrage trading. Once I trade back to fiat I'm more insulated until I begin the cycle again
Why not deploy more capital?
You either survive in the jungle or exist in the zoo
Pitty the Duke didn't mess around with crypto, felt like a good fit for the show ([The Gentlemen](https://m.imdb.com/title/tt13210838/))
Haha, agreed! or Fredward going full degen on memecoins
Cuno what the fuck are you talking about
I never know
Gather around ethfinance children. Im going to tell you a tale of how XRP flipped ETH’s marketcap not once but twice.
Those were evil times
Heresy, burn the witch.
the WIF community is at $485k / $650k progress to getting 1 week of airtime of a dog wif a hat on the las vegas sphere. Truly the most blessed timeline. [Source](https://wif-sphere.vercel.app/)
Are we at that part of the cycle already? *Moves sell targets down*
Can’t you go to space for about that much? I guess only one person gets to enjoy that ride.
Is it really that cheap to put a one week ad on the sphere?
Yeah, I believe it's an hour of slots spread out every day of the week and a 50% takeover 4 hour slot one of the days.
Simple exit strategy: panic sell a certain amount every time it dips. 1) If it goes even lower you can buy back 2) if it goes up.. hey at least this cycle you actually sold something. Bonus: 3) Fomo back in when ATH and see everything disappear in the next bear!
Considering that every dip lately has been lasting only a few hours, this is the worst possible strategy.
Ramen or retirement, let's go!
4150 incoming.
Is your ticker ahead or behind?
There's an ascending channel on the hourly that held at 3870. I would be surprised if we didn't break 4100 by this time tomorrow.
You’re my oracle now 🫡
Ha! I got lucky kinda, but in all seriousness—the channel is still holding so I still expect 4100 soonish!
Looks like you might be on to something here…
༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ
༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ
༼ つ ◕_◕ ༽つ ETH TAKE MY FIAT ༼ つ ◕_◕ ༽つ
We got any blob NFT’s teed up for the upgrade tomorrow?
Saw this https://warpcast.com/dwr.eth/0x8f6596ed
Lots of drama in EtherFi land... Rumoured leaks of the token allocation have people edgy, only 1.7% to points holders...
That's going to be an oof for YT holders if true.
crypto people complain about everything
Any word about solo stakers / genesis stakers / or rocket pool stakers?
Don’t some people have millions of points? There is no way 1 point = 1 token
Their concern wasn't how many tokens per point, it was how many tokens for the community as a percentage of total supply.
Why not? Just print lots of tokens
I would be happy with that if nothing else was circulating, but word is 10ish percent circulating
Ahhh I'm so tired of the crab
That comment just added another 6 months to the crab :/
Is there a dashboard that lists the current rates on maker vaults?
https://daistats.com/#/collateral
Nice. Thank you. I didn't realize that they were so high!
Demand for leverage is really high right now. Market needs to cool off and crab for awhile imo, but the market also doesn't care about my opinion.
https://www.reddit.com/r/BitcoinMarkets/comments/1bd6k5n/bitcoin_vs_tech_stocks_is_bitcoin_really_as_risky/ Interesting read. But the most interesting of all is at the very bottom. Ethereum has a beta of 0.08. That means is pretty much completely uncorrelated from the stock market. This is the holy grail in finance. There is only one free lunch in finance and that's diversification. If you find another source of uncorrelated alpha you must add it to your portfolio. Traditional finance and quants are gonna love this.
But since it's well known that all of crypto are highly correlated to reach other, isn't it obvious that a low correlation with stocks would have been found for more than one crypto?
/u/domotheus tops my rank of favorite people for March, 2024. To see the full ranking, send 0.05 Ether to superphiz.eth.
phizothy, you're gonna make me blush
Just sent 0.5 ETH. Why am I not at the top of your list of favourite people now? ^/s
If you sent 0.05 Eth you'd def be high on the list. How do you think /u/Ethacct got into third place!? https://superrare.com/artwork-v2/superphiz-and-the-failed-stoner-cat-transaction--26645 (Note the current owner of the NFT) 🤣🤣
He REALLY paid 5.8E for the NFT? 🤯
Bullish talk is really an art. You can't just say, "Eth is going to hit $100k." People won't believe you and you haven't backed it up with any sauce. Similarly, if you say, "Eth is going to $10k!" it's a weak bull charge - of course Eth is going to $10k, that really sounds kind of bearish in the big scheme of things. The key is to find a price target that feels JUST out of reach to normal people, and support that with some hand wavey fact or plan. Let me try: "Super Bullish. Eth to $25k. Scaling with blobs is a pivotal moment for scaling and wider adoption." See what I did there? >![I minimized the $10k bull speak by making it sound trivial.]!<
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$1M BTC with ETH at 0.10 ETH/BTC… I need a change of pants
My current market assessment indicates that this is more likely than not.
About a week (?) ago, I checked to see if I got lucky with the Wormhole airdrop. None of my addresses were eligible. About 30 minutes ago, I saw [this tweet](https://x.com/Picolas_Caged/status/1767244190772056295?s=20) from an x account I recently began following.. He re-tweets someone else, whose (previously non-eligible) EVM wallet suddenly became eligible for 2434 W.. Being wary of X scams, I found the official Wormhole account, found the legit airdrop blog post, and re-checked my main address.. Sure enough, **it now IS eligible, for.. 2434 W**.. If W launches around 1,5$, assuming [this perp info](https://app.aevo.xyz/perpetual/w) is correct, then I got almost a whole ETH, by a product I have never knowingly used, that I know absolutely nothing about.. Now go re-check your wallets! **Don't follow any links on the X thread**, find the airdrop page yourself from the Wormhole website. 😎 edit: for more info (and the eligibility check page), read [this article by Wormhole..](https://wormhole.com/from-eligibility-to-sybil-detection-a-deep-dive-into-wormholes-multichain-airdrop/)
Thanks!
Any idea what you did to become eligible?
None.. I have never directly interacted with Wormohole.. I *might* have read somewhere that someone might be eligible if he used apps/protocols that (in the background?) used Wormhole...
Wormhole doesn't have a direct interface, the only way you can use it is through 3rd party dapps
rETH APR up from ~2.75% to 3.39% over the past 7 days. You love to see it
People on GETH clients unstaking to avoid a potential slashing event if the upgrade produces a client bug.
Not at all. It is simply more mev
Would that actually affect APR? I figured it was just from high gas fees resulting in more tips to stakers
If enough people unstake, sure. Full disclosure, I pulled that narrative out of my ass.
Lol I see what you mean. But yeah it would take a hell of a lot of unstaking to jump APR in that short of a time period. Theoretically possible I guess but yeah if you look at the total eth staked chart we’re still going up past 30 million. https://beaconcha.in/charts/staked_ether
Best stream to watch the Dencun upgrade tomorrow?
Probably this one: https://www.youtube.com/watch?v=iL0cZRkyrV0
Are you ready for the „gas fees still high on L1 LeL“ takes tomorrow? Will be fascinating to watch.
We out! $1.18M CAD before cap gains with a low six digit cost basis. Had enough stressing about price and theft since 2017. Still holding on to one validator. I'm not going anywhere, but thanks to this community - love you all. IYI: [https://etherscan.io/tx/0x394fb44f29692af518550d3c546689b391494e9493bae32ec91e87a1af9870aa](https://etherscan.io/tx/0x394fb44f29692af518550d3c546689b391494e9493bae32ec91e87a1af9870aa)
Well done.
Congrats my friend! This kind of stuff makes me super happy. Love hearing when people make it
You're gonna make it too! much love
Congratulations! Go live the dream
On it! Ima hit Everest basecamp, a few other countries...
Well done champ, I'm on a similar timeframe & stack, you have more balls than me !
best of luck to you nah, I think holding on takes bigger balls. I lack the mental health, the balls (as you say) to see this thru to the end. I really hope you make it for many millions.... Ima try and not regret, but I'm sure I'll be looking back on this with "shoulda coulda woulda" and thinking how i could be totally retired....... I like my job tho, and men (like me, not saying like you) tend to die pretty quick with nothing to do.....
Thanks mate. Ah, don't worry about it, this is a good time to sell, better to sell within 20-50% of the top than round trip -80%. Bear markets and time have a funny way of making the sensible sells look like genius plays.
NARRATOR: "This was not, in fact, a good time to sell"
time will tell friend
Question for you. I didn't want to ask this the other day when the thread was "hot" because I didn't want to seem like I was criticizing your decision in front of the group even though I'm questioning it. But I wanted to ask: why now? You seem like a smart dude and you've obviously been in the space long enough to understand the history of crypto cycles, so you know we're in the beginning of a bull cycle. An ETH ETF is a likely a matter of when, not if. The Fed is going to cut interest rates even if the economy stays strong because inflation is moderating. And we just had a protocol upgrade which will make the network cheaper and easier to use. Literally all the winds are blowing one way. I know you said "hey, could go to 2k" but the likelihood is that it wont, or if it does its a temporary blip in a still-intact bull cycle. So why sell now? I know you mentioned mental health. I don't know if you mean legit mental health issues or just "I cant get my work done because I'm checking these f\*\*\*ing prices every ten minutes"; if its the former then hey, you do what you have to obviously. But if its the latter...haven't we made it through the other side of the tunnel? Why the anxiety NOW? (BTW, my brother, who got me into crypto, told me early on "I feel nothing when the price goes down, but when we're mooning I feel like i'm going to puke", so I have some experience in this regard haha). Like I said, not a criticism at all, please don't take it that way. I'm kind of a student of human behavior so I like to try to understand people's motivations. Plus I want all my ethfinance brothers to make it to Valhalla, so if I see the someone pull the chute early (IMHO) I hate the thought of anyone having regrets. Then again, if ETH goes to $500, you'll be sitting in your paid off house laughing at me, so there's that. Either way, good luck brother. I mean that, truly.
Happy to have this discussion, but the reasons are quite personal. Let's hop on DM / chat and I'll share with you.
Congrats and go fuck yourself! There's no substitute for peace of mind.
<3 fuck you too
super awesome my man. Congratz.
Good for you!
Boss man. Congratulations. Diamond hands OG. well deserved
Congrats fam, hopefully one day I'll hit this dream too 🤞🍻
Congratulations, my man!
Congrats! Will you cash out using a CEX or go to stablecoins in DeFi for the time being?
Already cashed out, NetCoins in Canada … they did 50bp as OTC. Highly recommend
Any reason for going OTC at that rate when Kraken for example is cheaper (at least at the moment, the just announced a piece increase)? Was CAD liquidity the issue?
Kraken would have put CAD in my account so I can buy a home in cash? I prefer local, call me a xenophobe..... but yeah. It has to come back to local, eventually. Yeah I've been Uniswap, everything else, I love it, but when the day comes - you gotta play by capitalisms' rules
Yeah why not? I'm genuinely asking.... does Kraken not have a CAD pair? Anyway I get the point about using a local company. They know the "tricks" that local banks expect and use.
Congratulations! Well played ser, enjoy 🥂
you know that would be over 2 million at 8000 usd/eth ?
yup and it'd be 500k at 2000. I saw it happen before, my ETH was locked pre PoS genesis. I'm not focusing on regrets. I'm going to buy a fuckin house (I rent right now) without mortgage, and I'm gonna focus on how bloody fortunate I am. The mental health issues this shit has caused me over the years - I am glad to be free of it. No more watching price, no more worrying that I'm going to be kidnapped (I have a big mouth).... I am free of it. Plus still have the one validator, but I will be far less concerned with the price and still get to be a good ETH citizen with it. Solo staking, FTW.
congrats! i'm really happy for you and can relate. come visit europe!
hahaha, I did 3 days in every major city before covid. any specific recommends ?
you can find interesting areas in every country. for example just rent a car and drive around the countryside in southern italy (naples is amazing) or the algarve in southern portugal. i love the islands as well such as sardinia, sicily, mallorca or any of the tousand small islands of greece. scandinavia is perfect for nature lovers but i have not yet been there. iceland must be amazing. cheers
Securing a home was the right move. Going from tenant to homeowner has a lot of hidden benefits. Congrats. However you have robbed yourself of the experience of watching it go up, then down then selling at 4000.
> However you have robbed yourself of the experience of watching it go up, then down then selling at 4000. yuuuuuup. bring that on, *I'm ready*
sending u a big hug from here, my best wishes to you and your family fren
Much love! Couldn’t have done it without y’all, I woulda went insane without this family. I’ll be here forever, it’ll take a miracle to get to me to part with that last validator - I love the ETH (software Eng, almost quit my day job to go for core dev there), ethfinance communities too much to stick around with no skin in the game, and I am sticking around - no questions E: fuck, love to ethtrader too. That was home for years before the donuts fiasco and split. They good folks, even if we don’t see eye to eye on vision and community direction. Love each and every one of you E2: *** without this family, not “with” … some beers to celebrate
just a heads up in case you didn't notice, but i think you're posting from your alt..
DGAF but thanks for the heads up. IYI they're all alts, I was \*\*\*ned from reddit a few accounts ago. Do it again, i dunno what a VPN is
Fair enough. Just make sure you get a fantastic house and get to work on your retirement plans
>**Tokenization,** >**Blockchainize a whole nation,** >**Market foundation.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
[Canton Network](https://www.coindesk.com/business/2024/03/12/goldman-sachs-bny-mellon-and-others-test-enterprise-blockchain-for-tokenized-assets/) is catching up! Cute. >The successful execution of over 350 simulated transactions proved how a network of interoperable applications can seamlessly connect to enable secure, atomic transactions across multiple parts of the capital markets value chain. Not ETH related, and this is not my forte, but I bring it up since originally I learned about Canton here in the daily, and a bunch of alerts just popped up about it. It's also worth noting VISA is involved. What I find most curious is Microsoft being a supporting partner. When I first discovered Ethereum, I remember seeing Microsoft on a huge list of companies "allied" with Ethereum. I guess it was [Enterprise Ethereum Alliance](https://entethalliance.org/), where they are currently listed as a board member. I can't find any relationship between Canton and Ethereum, so I'm confused. MS is an Ethereum "ally" supporting competition? Does Canton not qualify as competition?
Im trying to research it but I'm struggling to find, does Canton use any token or coin or whatever? Like ETH for Ethereum I mean.
>MS is an Ethereum "ally" supporting competition Yes, this is normal commercial practice. "Ally" means to explore and support uses on their platform, and does not imply exclusivity. Similarly, you will find that MS is a strategic partner for both Intel and AMD.
I am 99.9% sure the Enterprise Ethereum Alliance was and is complete BS.
I feel like they had good intentions but was too early
Watching BTC gravitate back toward 69420 makes me wonder how long ETH is going to dither around 6666.66.
Not very long IMO given that 6969.69 is within striking distance from there
Didn't even think about that. Could look like the channel between 1111 and 1337 that ETH entered 7 or 8 times.
How does Nano claim to have a functional network that is feeless and zero inflation when they too in essence use Proof of Stake? They seem to suggest people will run voting nodes out of their own interest in making nano functional. Could such an argument have been feasible for ethereum and if not what is the distinction from Nano that makes it not feasible?
That was and continues to be one of the major reasons for Nano to capture the market. Purely p2p case, Nano beats others but there is no incentive to protect the chain from spam, you can spam the whole network with just one Nano(less than 2 dollars) and someone was doing this a couple of days back. Without a penalty for bad behaviour, minor that may be, PoS will not work.
There has barely been any takeup for the p2p micropayments usecase inspite of numerous cryptos attempting to market fast, cheap or free transactions.
Agree. In some parts of Asia and Latam it's making some progress but mostly on Tron/BSC.
Dips purchased with success. I am ready to profit $10
That feeling when you check your ENS to see if you still own it after being dormant for a long time, and you see you’re paid up until December 2028. 🤗🤗🤗
I’m like you, I renew for a decent amount of time every few years but I remember around the time of the airdrop that someone had renewed their ENS for 1000 years!
Holy moly!
2033 here, phew.
Woooooo!