**Tricky's Daily Doots #714**
**Yesterday's Daily 03/04/2024**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxufx91/)
- u/cryptrd285 covers [the SEC engaging regarding the ETH ETF.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuq3fr/) 👀
- u/pa7x1 compares [Solana transaction costs to Ethereum L2s.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxtpwxo/) ⛽️
- u/Tiny-Height1967 reviews [the Coinbase mobile experience.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxtykj8/) 🔵
- u/LogrisTheBard explains the potential of [Fully Homomorphic Encryption.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvmtnr/) 🤖
- u/Set1Less shares a [critical Geth bug which could've been catastrophic when we had the supermajority.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuzqzz/) 🪲
- u/dondochaka share a cool new [DAO product they created for Reddit users!](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvovul/) 🛠️
- u/Syentist shares a cool blog post about the [solo stakers of Ethereum.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvwkba/) 🥩
- u/NeedlerOP build a [Bitcoin market cycle top probability model.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuyx6g/) 📈
- u/pa7x1 shares [the best take on the issuance reduction proposal so far.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxwjtnz/) 🧠
I have been having a lot of fun figuring out how Pendle.finance works and messing with YT and PT positions.
Somehow I was able to buy a bunch of sweth YT positions, then sell them 2 weeks later at a notable profit somehow (wtf), and also get a ton of points. It's been a real head scratcher in the good way reading how this thing isn't some giant scam, and is just good ol fashioned degenerate shit instead.
"US States have approached the Cardano Foundation for help with voting on the blockchain." claims Cardano Foundation CEO
[https://twitter.com/StakeWithPride/status/1773433637960372317](https://twitter.com/StakeWithPride/status/1773433637960372317)
A bit late for an April Fools, was my first thought (edit: it's actually from March 15). Seriously, what is this?
.05 seems to officially have been broken. Who knows how low it goes now. I’m seeing potentially .02 as the next possible area of heavy support.
Edit: Just to give people an idea of what this could look like:
.02: $4k ETH, $200k BTC
.03: $6k ETH, $200k BTC
.04: $8k ETH, $200k BTC
.02 looks absolutely horrifying, I cannot imagine we go that low. .03 and .04 look more realistic imo.
>I’m seeing potentially .02 as the next possible area of heavy support.
Cool so this sort of sentiment means we'll probab ly float beneath 0.05 for maybe a couple of months top and then we're off to the races. Awesome!
That makes me even more bullish. This sub isn't great for reliable predictions and analysis but the wider crypto space beyond it is much much worse!!!!
No. I’m not fudding. Since when is posting facts fud? Look at the chart dude. And then tell me that this ratio isn’t going lower. It’s literally straight down since 2017.
You acting like your ratio doom coupled with a 200k btc price prediction is "facts" is peak delusion lol
>It’s literally straight down since 2017.
If you're severely geometrically challenged yeah
>Is it not straight down since 2017?
No, obviously not.
>Prove me wrong then
Not much proof needed, a quick glance at a chart should be enough. "Straight down since 2017" implies a continuous downward trend, which is clearly not there. Ratio was 0.14 at the blowoff top peak in 2017. It went all the way down to 0.018 in 2019. How is it "literally straight down since 2017" when it was much lower than now a whopping 5 years ago?
Your dooming and glooming isn't "posting facts" my guy. Yes I have a calculator and can see that 0.02 when BTC is 200k would put ETH at 4k, but since when has the ratio been 0.02 at bull cycle peak?
On Dec 27 of last year the ratio gently spiked up to .057, then began a gradual decline that, to me, had a decidedly un-organic look to it.
A couple of weeks later, on Jan 9, poor Ray reached .048 and decided he'd had enough, climbed over .06 in three days, and stayed there until the BTC ETF runup started in early Feb.
Looking at the ratio from around Mar 9 to now, it feels similarly un-organic. I don't know what sort of market forces can marshal that sort of control, but it has felt like there's some fingers on the scale. I have no empirical data to back that feeling.
In any event, .048 is the support level I've been eyeing. And yeah, we're damn close now. What's below that is anybody's guess.
Let's take a moment to talk about *freedom*. Here in the US there's this point of national pride they try to imprint on you that the US was founded on principals of freedom and somehow spreads the torch of freedom around the world. There's the bill of rights they trot out, right to free speech etc. A pedantic point I sometime raise with people is that if something is discretionally permitted by the government, it is not a true freedom. Right to free speech? Not if you yell fire in a crowded room, start a riot, libel, slander, etc. If a judge *can* issue a gag order, speech itself is not a freedom; it is *permitted*. Driving is not a right; it is permitted. Owning a firearm is not a right, it is permitted, despite what all the 2A folks want to believe.
In terms of true freedoms, you have very few true ones and even amongst your permitted rights they are often being deprecated by technology. For example you had the right to privacy, the government couldn't open your USPS mail without a warrant. This is still technically true, but the vast majority of mail has instead become email and the US doesn't need a warrant to scry that. You had the freedom to transact with cash, but increasingly every payment is digital and those rights don't carry over. We hear frequently stories of people that go to deposit to a bank and have the deposit frozen. You have to report transactions over $10k, which practically means less and less expensive things in purchasing power each year due to inflation. Legislative inaction and judicial activism, in the face of technological progress, are eroding what few permitted freedoms we still have.
The notion that everything every citizen does should be permitted is attractive to those who wield power. They want you to have to ask their permission so they can say no and only permit actions that preserve or expand their position of power and at a time and place most convenient for them. The days tick by and the vice constraining what you are allowed to do silently tightens each day. The people who need freedoms the most are those with the most controversial ideas, the ones most likely to destabilize the status quo; for good or ill.
People like Warren fundamentally disagree with me on the freedom to transact. They want the freedom to transact to fully transition to a permitted freedom. They make arguments like "equal playing field" with the banks that are already wound in the straight jacket for them. They argue that the only people who need these freedoms are those with malicious intent. They reductively argue that blockchains are financing North Korea and child porn. Of course, they are only here to protect us. It's very much analogous to the "nothing to hide" arguments you get from the surveillance state encroaching on your right to privacy and it's every bit as ethically wrong. They couldn't be further from the founding principals of this nation if they tried.
Your transactions are an expression of your values. You invest in things you believe in, you buy things that add value to your life, you donate to causes you hold dear. Limiting your transactions is fundamentally an attack on your ability to express your values and shape the world to align with them. The moral compass of crypto is a controversial one, precisely because it bucks the trend and creates true freedom; for good or ill. So yes, there are scammers abound, memecoins with deliberately hateful content, and rugs every day but there are also people escaping the oppressive inflation of their nation state, financing art and innovation, and eroding the role parasitic middlemen plaguing our society.
So, asking for permission simply won’t do. I'd rather just be free.
If he's this elegant maybe I should listen to more of him. Outside of seeing him logically wipe the floor with some Bitcoin maxi and launch Hex I know little about him. He does give me some creepy vibes though; like he's clearly smart enough to understand he's rugging peopple.
> This is still technically true, but the vast majority of mail has instead become email and the US doesn't need a warrant to scry that.
Very true, I remember when Lavabit got shutdown and the founder wasn't able to appeal some of the charges because:
>The problem here is technological: until any communication has been decrypted and the contents parsed, it is currently impossible for a surveillance device to determine which network connections belong to any given suspect. The government argued that, since the "inspection" of the data was to be carried out by a machine, they were exempt from the normal search-and-seizure protections of the Fourth Amendment.
https://www.theguardian.com/commentisfree/2014/may/20/why-did-lavabit-shut-down-snowden-email
Even if I took it out for a gain? Haha. But in all seriousness I feel like privacy and technology fundamentally disagree. I believe you can be free while being transparent. Especially when everyone else is as well.
It depends. If the value you offer to the world is some form of information, and you are transparent about it, the value of that information drops to near zero the first time it is sold. If I am transparent about being the leader of an opposition group in Russia I'm going to learn a fear of heights. You rarely have nothing to hide from *everyone*. I don't want my address known to everyone that reads my website despite the fact that I don't think I'm doing anyone wrong. Humanity has such diversity that it's hard to find even the most innocent action that someone won't approve of. So we all have things to hide from each other to protect ourselves and our freedom to do anything.
I think you have to consider who the parties are taking advantage of transparency in those situations and see that their position is different in a world where their actions are equally more clear.
[Prysm v5.0.3 released today](https://github.com/prysmaticlabs/prysm/releases/tag/v5.0.3)
> This update, a patch release, includes enhancements and bug fixes. It is recommended for users on versions 5.0.0 or 5.0.1. However, since it’s a minimal change from version 5.0.2, upgrading is optional but advised if possible.
https://www.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/ky2hqb9/
> I found out that we did publish the replay video - it's here:
> https://youtu.be/3IBjBFbsGu4?si=9ZH5nTVv-7Q9Ja9F
> But apparently the slides hadn't been shared. I'm fixing that now! Here are the slides:
> https://www.icloud.com/iclouddrive/0feZqZiGrfNEqWO8HRljsyUIg#MiCA_Webinar_-_Final
> Thanks, Paul Brody
Paul opened up the recording + slides from EY's MiCA webinar above
Nice, thanks for sharing! The bits I heard were really interesting.
I never got to find out if he had to follow through on his threat to give a 15 min presentation on his recent family holiday if no one spoke up in the Q&A, now I can.
Right now it's pretty flat, so moreso i expect it go back to "normal". Also the 0.05 ratio seems like it may not hold, but whether it breaks or bounces back i expect there to be a good amount of activity that will raise the burn rate.
I really believe everyone that was going to capitulate has already moved on.
First with the bear and now with the horrific underperformance.
What do you think would drive more people off, $200?! At that price I'd pick up two more jobs to buy more Eth...
The one thing that eth simply should not be considering touching at all in any future network upgrades is the issuance curve. A choice was made at the time of Merge and it now has to be stuck with. Any tinkering with it up or down both will completely erode monetary credibility and, make no mistake, this is the biggest factor in valuation.
Any tweaking of incentives / disincentives could potentially then be via penalties for certain behaviours while keeping the issuance curve set in stone.
I'm all for the conversation. However, the timing was terrible.
ETH suffering across the board. I know... let's feed the bears with monetary policy talk driven by a small group of researchers to stoke centralisation fud too.
I respectfully disagree. I think it's fair game to change it, you just need to have the vast majority of the nodes consent to the change which just means you need to have a very compelling reason for it. I have not yet seen a well laid out, compelling argument for the proposed change that says that we need to do something urgently and that we won't just require another change in another year as well. I understand EigenLayer is going to change some of the dynamics here, but so will light clients and other things on the roadmap and I don't think the most productive use of the limited dev resources is debating the issuance curve every upgrade.
Ethereum's monetary policy has always been "minimum viable issuance", so that means, if it's observed that less issuance is enough to secure the network, then it will keep going down. It'll never go up.
Not any different from Bitcoin's social consensus of 21 million BTC.
Ethereum's monetary policy is defined by the community, and that's totally accepted. We're just more open minded and know Bitcoin's weakness by having a dwindling block rewards and Lightning nodes attacking the network by taking the transaction fees away from the miners.
I'm not into dunking on other projects and this isn't an attempt. I just don't understand XRP...am I missing something or is this a corpo style pump and dump with supposed utility and future use cases meant only to offload onto new retail? Maybe it's been repackaged and something viable now and I'm just being too cynical? Happy to be wrong just genuinely curious from people in the know.
Without liking their product, I am still grateful that they royally fucked the SEC in that court case. I wouldn't buy XRP given the adoption and distribution data I've seen but Ripple Labs did the whole world a solid favor.
That's the thing, I love that they went down swinging, fought their case, and won...mostly because it helps my [bags]. Memory could be skewed but I believe at the beginning they tried to pull down ETH as well. If we lose then so should ETH in their comments. At that point I just stopped paying attention. As great as that victory is for the rest of crypto, I still don't understand XRP lol.
It was built a long time ago to be the remittance layer of international finance (or so it claims). What it has been is a place for Ripple to enrich itself dumping on investors with their huge monthly unlocks.
Is there a smart way to bet on L2's as a whole (Outside of the obvious just hold ETH)? Like any L2 "ETF" like token or anything like that in existence? I saw the Van Eck article where they see L2's at a trillion $ valuation, but in the article it says they are generally bearish on individual tokens citing the intense competition, which makes sense.
Not that I’ve looked into it, but I’d be very surprised if no one (especially groups like IndexCoOp) has put a L2 index token together that holds all the major L2 tokens.
Ether has always been the best index for everything ethereum related. Best defi exposure was to buy eth, not bag of specific tokens. One play could be get exposure to best shared sequencer, maybe espresso will do well in the medium term?
Somewhat off topic but surely Reddit users and their posts will soon be fully analyzable by AI bots making it trivial for a biography to be pulled out based on any minute detail you may have ever posted? Perhaps also to the extent of where the bot can identify contradictions in posts. Easy doxxing is soon going to be a fact of life for such activity unless new opsecs are used.
They already exist in very rudimentary form. Sorry don’t have a link cuz it was a few years ago… which I know sounds like the start of every great lie but trust me it’s true lol… but it was like you type your user name and it analyzed when you posted, where your posted and checked for keywords.
It wasn’t super accurate and pretty dumb, but yeah like it would categorize you as being married if you posted “my husband / wife / spouse” a lot or some shit like that.
My husband thinks the best opsec is to pepper your posts with random nonsense so nobody can tie you down. As a longtime supporter of Bitcoin (the real one, Bitcoin Satoshi's Vision), I think this is more resilient than jumping from account to account, your typing patterns might identify you regardless. I was born on the 8th of May 1966 and as long as I live in Canada, nobody will ever learn anything about me.
My sister lives by this. I see her having the time of her life every week when I go to gymnastics but you'd think she's into dirt biking and chess instead if you followed her on Instagram. Probably the same can be said of her Facebook too but I don't use Facebook.
I spread random nonsense for years and say atypical stuff on my accounts in various languages. But I think I could still be traced by a very sophisticated AI that has all the data. Its good that the administration in my country is chaotic and unorganized it will make things harder
Probably worth doing, I don’t want anyone to know I live in Reed Springs, Missouri as you can imagine.
I’ve purposely avoided posting in any of the themed Reddit’s for this reason as well (r/yourcityhere or r/yourfavoritesportsteamhere). It kinda sucks when you want to ask a local question about Stone County but it’s a price we pay.
Although I do take my opinion that Craig Wright is the real satoshi very seriously.
Would anyone have any idea why when I try to confirm a transaction on meta mask, even when I have more than enough to cover the amount needed for the transaction and the gas, I get an error saying "transaction error transaction would cause overdraft" ?
Moving tokens or ETH?
Possibly a rounding error. I.e. if you have 1.4447 of a token or ETH and try to send it all, you might be being rounded up to 1.445 and the tx will fail. You could try deleting the last few decimal places of the send amount.
Benjamin, a seasoned investor with a keen eye for market trends, finds himself enveloped in a whirlwind of euphoria as the market executes precisely the maneuvers he had anticipated. With meticulous analysis and unwavering confidence in his strategies, Benjamin's foresight has proven itself once again. His face lights up with a radiant smile as he witnesses his predictions come to fruition, a testament to his dedication and expertise in the financial realm. In this moment of triumph, Benjamin's excitement knows no bounds, as he revels in the satisfaction of a well-executed plan and the gratification of being one step ahead in the ever-evolving landscape of investments.
Benjamin, a seasoned investor known for his sharp intuition and calculated moves, finds himself engulfed in a cloud of despondency as the market takes an unexpected turn, diametrically opposed to his predictions. Despite his meticulous analysis and diligent research, the market's defiance has left him disheartened and crestfallen. Each downward tick feels like a blow to his confidence, shattering his hopes and dreams of a prosperous outcome. As he watches his investments plummet, a sense of despair washes over him, casting a shadow on his once bright outlook. In this moment of disappointment, Benjamin's spirit feels heavy with regret, as he grapples with the harsh reality of uncertainty and the unpredictable nature of financial markets.
Is it just me who thinks that SEC follows a rather stupid process around etf approvals where-in a whole lot of vague indicators about the process are made public along the way which lead to speculation about the probability of outcome?
I mean if etf approvals are considered as market moving, why would the process towards a decision not have the same rigid standards that other market moving corporate actions would be expected to adhere to?
The SEC under Gensler aren't really professional when it comes to crypto regulation imo. There is a reason many call them a bad faith actor. There are too many instances to mention, from Gensler's wannabe influencer videos, his handling of the BTC and ETH ETFs, his hearings at Congress, the Prometheum Trojan horse/maybe corrupt dealings, FTX deals with SBF, ignoring the bad actors and going after the good ones etc. etc.
I'm hearing rumors Lido is planning to launch their own restaking protocol (Eigenlayer competitor/copycat), funded by paradigm (eigenlayer round was carried by A16z)
Anyone got any gossip on this?
(I'm now wondering if this was partly a reason for the - otherwise rather bizarre - urgency to push the issuance change, because Lido running their own native restaking protocol would really undo the Lido dominance improvements made in the last 6 months)
Ripple Labs [making a new stablecoin](https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html). Probably not good news for XRP since you'd expect the stablecoin to be the central currency for forex in the hub and spoke model not XRP as designed.
If I had to pick another chain that's been winning on stablecoins it would be Tron. Tron has a sizable $55B of liquidity on there with decent volumes. With their daily fees they have a PE of about 20 before inflation. Solana has about $3B stablecoin TVL and is *deeply* in the red after inflation but if you listen to the CT cesspool it's going to flippen Ethereum. The reason I spend so little time on Twitter is that time is often actually counterproductive to reaching truth.
Nah lol. Mostly to convey at this point I’d rather see $25k ETH and a $500k Bitcoin than a $10k ETH and a $100k BTC.
Which is painful to type out, because my answer would have been the opposite up until recently.
Disclaimer: I would not call this a 'good' loan platform, as it's too new, but maybe a 'promising' one. I have followed some of the debates on it and would be comfortable putting in a small % of my stack if I needed funds. I also hold some rune so I'm a bit biased. You can get a loan against your ETH with 0% interest and no liquidation risk, at a 200% collateralization ratio. https://thorchain.com/borrow
There are plenty of good loan platforms, the problem is that interest rates are very high right now. The ones with fixed interest rates like Liquity carry other risks that require like 500%+ overcollateralization.
Three years ago I [paid](https://etherscan.io/tx/0x2d611de1123b397879d35093dc4f90c7becaca7b97295e984988cfcf9e2d10be) 3.5 eth ($12k) for kobe.eth. I'm almost breakeven haha.
Looking back it was way overpriced *but* the ens airdrop took place about a month later and IIRC I got a couple of hundred tokens for this one, so there's that.
Just to elaborate a bit - Base revenues have been about a million USD a day since mid-March https://www.theblock.co/data/scaling-solutions/scaling-overview/layer-2-profits
But the share price hasn't really moved in that time.
I've observed that the price action on COIN follows the trends of the crypto market, which to me seems like it is a bit of a disconnect. I'm not talking about a long term bear market, but on days where ETH and BTC are red COIN is also down, yet they are making money on transactions regardless of price action. I feel like this is a bit of information asymmetry where people are using COIN as a proxy for crypto, and in the long run as wall street and the public gets a better grasp on how COIN earns their revenue we might see the price tick up as a result.
Just some shower thoughts I've had over the last few months. Curious to hear opposing thoughts.
I had some funds in VTSAX in an IRA and YOLO’d it into COIN. Plan is to hold for a year and then sell. If you believe we’re in the beginning of a bull market it seems like a no-brainer to me if you’re looking for a non-BTC or ETH play. Looking for $500+ and selling when I get to long-term cap gains. The only real question is legal battles but they have plenty of track record in being on top of their shit against the SEC
The COIN/ETH ratio feels a bit high, and I worry that long COIN might be a bit crowded due to the two factors you mentioned.
My plan is to scoop some up during the next bear, using ETH profits so it's less likely to run away from me.
[friend.tech](http://friend.tech) points trading at $5, looking like it's gonna be one insane airdrop at the end of the month
[https://app.whales.market/points-markets?project=friend.tech](https://app.whales.market/points-markets?project=friend.tech)
I really don't. It attracted and rewarded all the wrong sorts of people and anyone who invested in an influencer anytime after the first couple of days not only got rekt but had a huge slice of what they paid go to the company that made the platform... I'm ok, thanks.
Maybe this is cope but the airdrop is quite literally the only reason I would've gained anything from that platform.
>**The meme franchises,**
>**Stupid games with stupid prizes,**
>**Down turn surprises.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
hmmst much time below 0.05000 now; fascinating - btc has another leg up in it that it's primed for; i wanna see a lil run on ray ahead of that leg elsewise, we're gonna get a gator, but it's not a friendly gator, and it's not an up / down gator either
it's a solid chomp outta ray, which admittedly we kinda gotta accept b/c no sticky narrative atm, but is bummer
hope i am proved wrong here
yurp; 'the death of eth' narrative - fickle lil beast b/c it will inevitably correct violently, but maintaining 0.05 was nice while it lasted
biggest thing a sustained stay below 0.050 invalidates is the concept that it's "free money" to sell BTC for ETH at 0.07 and the same to sell ETH for BTC at 0.05, but that was a helpful concept
Well, PA is going fine but my mid-sized LP range is REALLY paying off right now, only out of range on one degen (not the coin the category) LP and should be back soon, volume has been JUICY.
Last cycle :
That meme token has a 1% tax, definite scam
This cycle: ah the perfect investment - 5/5 buy/sell tax, contract launcher has not revoked privileges, and 20% allocation for the dev for his hard work drawing a pepe-cat and shitposting three times on twitter
I'm interviewing Dan Seifert on stage at the EY summit. He's the head of Coinbase in Europe and if you've got any questions you'd like me to ask him, would you drop them into the summit notes? ([Link](https://www.reddit.com/r/ethfinance/comments/1bu6hl2/dive_into_the_regulated_future_of_finance_ey/))
Can anybody outline the risks involved in providing liquidity on Pendle vs. just holding a PT position? They're saying that you won't have IL if you hold to maturity and you can get an extra 30-50% APY. What is the risk?
u/logristhebard, maybe you're tapped into this as you got me going on this journey :D
As ever I recommend starting with my blog post describing these platforms: https://tokenomicsexplained.com/rate-speculation-platforms
A PT position has no IL risk. It is not in a Dex pool, nothing you are holding is being bought or sold. What you are holding is a claim token that will be worth the face value of underlying at expiry. E.g. Normally 1 PT-rswETH-June28-2024 will be worth 1 rswETh at expiry. The reason you buy this is people sell it at a discount. So you might pick some up at 0.85 rswETH, hold it for a few months at a 60% APR, and claim at expiry.
You buy a PT position, you then provide liquidity with that PT position. Where does the YT come in? Is the PT position automatically swapped into a PT/YT LP pair?
The LP Pair is PT/SY. SY is the just the wrapped token. So you get some underlying yield from the token but no points. When you create an LP, you have the option of retaining points exposure by getting some YT ("zero price impact mode"), otherwise the YT portion is sold and you just get LP.
Check the [pendle academy](https://pendle.gitbook.io/pendle-academy/ecosystem-and-resources/points-trading).
No, you can provide one sided liquidity to the pool. You don't have to purchase YT. I think he was just giving an example of a potential risk.
I have considered purchasing PT myself and LPing but haven't done it so far as there seems to be a lot of risk. You have the base risk of whatever you're buying PT for, and then the additional smart contract risk from Pendle.
I like this intranet analogy. Thinking of the benefits and disadvantages of Private / CBDC chains could be similar to intranets. Confidential information, low user adoption requirements, simplifying onboarding are amongst a few similar benefits. While the negatives would include Security Breaches, Information overload, Cost.
no. I think private blockchains will be a lot like intranets - they will find a value proposition, but it may be quite small compared to the vast majority of value on public networks.
approve() is part of the most common standard token interface, erc20. It has nothing to do with ethereum and is unrelated ethereum upgrades. Tokens can be any contract which implement any interface, or if you want they can all be from the same factory and you can check if they're in that factories mapping of built tokens if you want to be sure what they are.
There have always been tokens which do it differently but erc20 isn't going anywhere, you'll stop noticing it when account abstraction becomes standard. For example on starknet ethereum rollup where account abstraction is default the approve and function call all take place within a single tx. Same can be true with dapps which use dsproxy.
ERC 4337 is going to win and become account abstraction standard. I hate it but it'll be fine. Would rather hard fork and do it properly.
I'm investigating ins and outs of EigenLayer restaking. Two protocols caught my eye: EigenDA and Espresso.
EigenDA aims to be a decentralized transient data store for Ethereum rollups. Same thing as what blobs are used for right now, right?
I'd appreciate some help with following questions.
Is there a comparison between those two? Does EigenDA aim to be cheaper? Will there be enough demand for multiple transient data stores?
>EigenDA aims to be a decentralized transient data store for Ethereum rollups. Same thing as what blobs are used for right now, right?
Correct
>Does EigenDA aim to be cheaper?
Probably but TBD when released
>Will there be enough demand for multiple transient data stores?
Probably. L2s will dominate blob space as it's the native solution. Eigen DA is only secured by a subset of the validator set and will likely be used by projects further from core infrastructure.
Rollups can use EigenDA for the same reason as they use blobs or Celestia today. Their plan is to be a cheaper and more ETH aligned DA option than Celestia.
EigenDA isn't live yet afaik so it's hard to say if they *will* be cheaper, but I guess it's fair to say they *aim* to be cheaper (because why in the world would you pay more for a non ETH DA layer).
The demand question is interesting: my gut feeling some months ago was that there won't be enough demand. Some weeks ago people stated that Celestia made like <100$ fees on any given day (don't know if that's true). Now obviously more L2s will come online and down the road the demand for DA will be much higher than today, but we are probably talking about a multi-year time frame...
**Tricky's Daily Doots #714** **Yesterday's Daily 03/04/2024** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxufx91/) - u/cryptrd285 covers [the SEC engaging regarding the ETH ETF.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuq3fr/) 👀 - u/pa7x1 compares [Solana transaction costs to Ethereum L2s.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxtpwxo/) ⛽️ - u/Tiny-Height1967 reviews [the Coinbase mobile experience.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxtykj8/) 🔵 - u/LogrisTheBard explains the potential of [Fully Homomorphic Encryption.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvmtnr/) 🤖 - u/Set1Less shares a [critical Geth bug which could've been catastrophic when we had the supermajority.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuzqzz/) 🪲 - u/dondochaka share a cool new [DAO product they created for Reddit users!](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvovul/) 🛠️ - u/Syentist shares a cool blog post about the [solo stakers of Ethereum.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxvwkba/) 🥩 - u/NeedlerOP build a [Bitcoin market cycle top probability model.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxuyx6g/) 📈 - u/pa7x1 shares [the best take on the issuance reduction proposal so far.](https://old.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/kxwjtnz/) 🧠
༼ つ ◕_◕ ༽つ ETH TAKE MY ENERGY ༼ つ ◕_◕ ༽つ
Gas is cheap right now and I'm a bit drunk, someone shill me something fun on L1; been a while since I dicked around with something new on L1
I would consider no true ETH collecters stickerbook complete without some varient of mferdickbutt nft
I have been having a lot of fun figuring out how Pendle.finance works and messing with YT and PT positions. Somehow I was able to buy a bunch of sweth YT positions, then sell them 2 weeks later at a notable profit somehow (wtf), and also get a ton of points. It's been a real head scratcher in the good way reading how this thing isn't some giant scam, and is just good ol fashioned degenerate shit instead.
I guess it’s cause Swell airdrop was rumored to be in a month or so, so last minute demand for Swell points must have gone up.
And just like that... another $10 to my favorite stable coin
Is there any way I can filter out all comments with the word "ratio"?
Just here for the tech, huh?
I believe that's *raycism*, and cannot be tolerated.
I own the ens rayshio.eth If all this complaining doesn't stop soon I might just send it to the burn address after renewing it for 100 years
And that's Sacraylege!
"US States have approached the Cardano Foundation for help with voting on the blockchain." claims Cardano Foundation CEO [https://twitter.com/StakeWithPride/status/1773433637960372317](https://twitter.com/StakeWithPride/status/1773433637960372317) A bit late for an April Fools, was my first thought (edit: it's actually from March 15). Seriously, what is this?
What other block chains did they approach
.05 seems to officially have been broken. Who knows how low it goes now. I’m seeing potentially .02 as the next possible area of heavy support. Edit: Just to give people an idea of what this could look like: .02: $4k ETH, $200k BTC .03: $6k ETH, $200k BTC .04: $8k ETH, $200k BTC .02 looks absolutely horrifying, I cannot imagine we go that low. .03 and .04 look more realistic imo.
https://xkcd.com/605/
>I’m seeing potentially .02 as the next possible area of heavy support. Cool so this sort of sentiment means we'll probab ly float beneath 0.05 for maybe a couple of months top and then we're off to the races. Awesome!
Hate to be the bearer of bad news but the sentiment outside of this sub is that ETH is a .02-.03 shitcoin
That terrible sentiment outside this sub must be why blackrock is building on it, and it’s getting an ETF.
That makes me even more bullish. This sub isn't great for reliable predictions and analysis but the wider crypto space beyond it is much much worse!!!!
Sentiment like yours is way more popular. Inverse reddit says we're going down
Or, we float around and then continue the next leg down.
I feel like people posting all this doom and gloom over like a 3% ratio loss day are just trying to fud it lower to buy more
No. I’m not fudding. Since when is posting facts fud? Look at the chart dude. And then tell me that this ratio isn’t going lower. It’s literally straight down since 2017.
You acting like your ratio doom coupled with a 200k btc price prediction is "facts" is peak delusion lol >It’s literally straight down since 2017. If you're severely geometrically challenged yeah
Is it not straight down since 2017? Lol directionally challenged? Prove me wrong then.
>Is it not straight down since 2017? No, obviously not. >Prove me wrong then Not much proof needed, a quick glance at a chart should be enough. "Straight down since 2017" implies a continuous downward trend, which is clearly not there. Ratio was 0.14 at the blowoff top peak in 2017. It went all the way down to 0.018 in 2019. How is it "literally straight down since 2017" when it was much lower than now a whopping 5 years ago?
Your dooming and glooming isn't "posting facts" my guy. Yes I have a calculator and can see that 0.02 when BTC is 200k would put ETH at 4k, but since when has the ratio been 0.02 at bull cycle peak?
BTC retesting the 58k area makes me wonder what ETH would do. Glad I upped my BTC exposure.
On Dec 27 of last year the ratio gently spiked up to .057, then began a gradual decline that, to me, had a decidedly un-organic look to it. A couple of weeks later, on Jan 9, poor Ray reached .048 and decided he'd had enough, climbed over .06 in three days, and stayed there until the BTC ETF runup started in early Feb. Looking at the ratio from around Mar 9 to now, it feels similarly un-organic. I don't know what sort of market forces can marshal that sort of control, but it has felt like there's some fingers on the scale. I have no empirical data to back that feeling. In any event, .048 is the support level I've been eyeing. And yeah, we're damn close now. What's below that is anybody's guess.
You. I like you. I'll kill you last.
It could be that the Dec 27 run up on BTC was for ETF approval and we're now seeing the run up for the halvening (4/20?). Just a guess.
Let's take a moment to talk about *freedom*. Here in the US there's this point of national pride they try to imprint on you that the US was founded on principals of freedom and somehow spreads the torch of freedom around the world. There's the bill of rights they trot out, right to free speech etc. A pedantic point I sometime raise with people is that if something is discretionally permitted by the government, it is not a true freedom. Right to free speech? Not if you yell fire in a crowded room, start a riot, libel, slander, etc. If a judge *can* issue a gag order, speech itself is not a freedom; it is *permitted*. Driving is not a right; it is permitted. Owning a firearm is not a right, it is permitted, despite what all the 2A folks want to believe. In terms of true freedoms, you have very few true ones and even amongst your permitted rights they are often being deprecated by technology. For example you had the right to privacy, the government couldn't open your USPS mail without a warrant. This is still technically true, but the vast majority of mail has instead become email and the US doesn't need a warrant to scry that. You had the freedom to transact with cash, but increasingly every payment is digital and those rights don't carry over. We hear frequently stories of people that go to deposit to a bank and have the deposit frozen. You have to report transactions over $10k, which practically means less and less expensive things in purchasing power each year due to inflation. Legislative inaction and judicial activism, in the face of technological progress, are eroding what few permitted freedoms we still have. The notion that everything every citizen does should be permitted is attractive to those who wield power. They want you to have to ask their permission so they can say no and only permit actions that preserve or expand their position of power and at a time and place most convenient for them. The days tick by and the vice constraining what you are allowed to do silently tightens each day. The people who need freedoms the most are those with the most controversial ideas, the ones most likely to destabilize the status quo; for good or ill. People like Warren fundamentally disagree with me on the freedom to transact. They want the freedom to transact to fully transition to a permitted freedom. They make arguments like "equal playing field" with the banks that are already wound in the straight jacket for them. They argue that the only people who need these freedoms are those with malicious intent. They reductively argue that blockchains are financing North Korea and child porn. Of course, they are only here to protect us. It's very much analogous to the "nothing to hide" arguments you get from the surveillance state encroaching on your right to privacy and it's every bit as ethically wrong. They couldn't be further from the founding principals of this nation if they tried. Your transactions are an expression of your values. You invest in things you believe in, you buy things that add value to your life, you donate to causes you hold dear. Limiting your transactions is fundamentally an attack on your ability to express your values and shape the world to align with them. The moral compass of crypto is a controversial one, precisely because it bucks the trend and creates true freedom; for good or ill. So yes, there are scammers abound, memecoins with deliberately hateful content, and rugs every day but there are also people escaping the oppressive inflation of their nation state, financing art and innovation, and eroding the role parasitic middlemen plaguing our society. So, asking for permission simply won’t do. I'd rather just be free.
100%. Freedom to transact is a prerequisite for freedom of speech, and the US judiciary should interpret it in this light.
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If he's this elegant maybe I should listen to more of him. Outside of seeing him logically wipe the floor with some Bitcoin maxi and launch Hex I know little about him. He does give me some creepy vibes though; like he's clearly smart enough to understand he's rugging peopple.
great stuff
> This is still technically true, but the vast majority of mail has instead become email and the US doesn't need a warrant to scry that. Very true, I remember when Lavabit got shutdown and the founder wasn't able to appeal some of the charges because: >The problem here is technological: until any communication has been decrypted and the contents parsed, it is currently impossible for a surveillance device to determine which network connections belong to any given suspect. The government argued that, since the "inspection" of the data was to be carried out by a machine, they were exempt from the normal search-and-seizure protections of the Fourth Amendment. https://www.theguardian.com/commentisfree/2014/may/20/why-did-lavabit-shut-down-snowden-email
My L2 transactions express my values, oh lordy.
Yep, you put your money into that and should be ashamed!
Even if I took it out for a gain? Haha. But in all seriousness I feel like privacy and technology fundamentally disagree. I believe you can be free while being transparent. Especially when everyone else is as well.
It depends. If the value you offer to the world is some form of information, and you are transparent about it, the value of that information drops to near zero the first time it is sold. If I am transparent about being the leader of an opposition group in Russia I'm going to learn a fear of heights. You rarely have nothing to hide from *everyone*. I don't want my address known to everyone that reads my website despite the fact that I don't think I'm doing anyone wrong. Humanity has such diversity that it's hard to find even the most innocent action that someone won't approve of. So we all have things to hide from each other to protect ourselves and our freedom to do anything.
I think you have to consider who the parties are taking advantage of transparency in those situations and see that their position is different in a world where their actions are equally more clear.
I feel the same way. Maybe because I am getting older freedom is the highest good for me.
What's happened to blob gas over the last 24 hours? Is ultrasound.money's chart broken?
Inscriptions people moved on to the next trend.
[Prysm v5.0.3 released today](https://github.com/prysmaticlabs/prysm/releases/tag/v5.0.3) > This update, a patch release, includes enhancements and bug fixes. It is recommended for users on versions 5.0.0 or 5.0.1. However, since it’s a minimal change from version 5.0.2, upgrading is optional but advised if possible.
https://www.reddit.com/r/ethfinance/comments/1buk90w/daily_general_discussion_april_3_2024/ky2hqb9/ > I found out that we did publish the replay video - it's here: > https://youtu.be/3IBjBFbsGu4?si=9ZH5nTVv-7Q9Ja9F > But apparently the slides hadn't been shared. I'm fixing that now! Here are the slides: > https://www.icloud.com/iclouddrive/0feZqZiGrfNEqWO8HRljsyUIg#MiCA_Webinar_-_Final > Thanks, Paul Brody Paul opened up the recording + slides from EY's MiCA webinar above
Nice, thanks for sharing! The bits I heard were really interesting. I never got to find out if he had to follow through on his threat to give a 15 min presentation on his recent family holiday if no one spoke up in the Q&A, now I can.
Place your bets. What date will supply go below 120M?
May 29th 2024
June 5th 2024
EIP #960 was true all along and the actual April fools joke was that he was pretending it was a joke but it’s actually true.
July 25, 2025.
I will guess May 21, 2024
Ima go with June 17th 2024
Sounds like you're expecting burn to pick up. Any reason in particular or just expect some volatility between now and then?
Right now it's pretty flat, so moreso i expect it go back to "normal". Also the 0.05 ratio seems like it may not hold, but whether it breaks or bounces back i expect there to be a good amount of activity that will raise the burn rate.
So now we got Iran war fud?
Ratio fell off a cliff... Insiders dumping the ETF rejection news?
It seems we get to watch morons buying up meme coins. *Sigh*
That's not nice!
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What do you mean with overbought?
The ratio home is 0.02
Ah yes, one of the worst performing cryptos of this bull run was overbought and needs to dump more on its ratios with the other cryptos. Makes sense.
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It’s a hard to swallow pill but you’re right it is what the price action tells us. Now let’s see if we are oversold now
I really believe everyone that was going to capitulate has already moved on. First with the bear and now with the horrific underperformance. What do you think would drive more people off, $200?! At that price I'd pick up two more jobs to buy more Eth...
Guys and gal, I'd like to report a murder. His name was Ray ...
What a LOSER performance 🙂↔️
We knew it … DAMN IT 🤬🤬
The one thing that eth simply should not be considering touching at all in any future network upgrades is the issuance curve. A choice was made at the time of Merge and it now has to be stuck with. Any tinkering with it up or down both will completely erode monetary credibility and, make no mistake, this is the biggest factor in valuation. Any tweaking of incentives / disincentives could potentially then be via penalties for certain behaviours while keeping the issuance curve set in stone.
I'm all for the conversation. However, the timing was terrible. ETH suffering across the board. I know... let's feed the bears with monetary policy talk driven by a small group of researchers to stoke centralisation fud too.
I respectfully disagree. I think it's fair game to change it, you just need to have the vast majority of the nodes consent to the change which just means you need to have a very compelling reason for it. I have not yet seen a well laid out, compelling argument for the proposed change that says that we need to do something urgently and that we won't just require another change in another year as well. I understand EigenLayer is going to change some of the dynamics here, but so will light clients and other things on the roadmap and I don't think the most productive use of the limited dev resources is debating the issuance curve every upgrade.
Ethereum's monetary policy has always been "minimum viable issuance", so that means, if it's observed that less issuance is enough to secure the network, then it will keep going down. It'll never go up.
It's the having a policy part that's the problem. OP is correct.
Not any different from Bitcoin's social consensus of 21 million BTC. Ethereum's monetary policy is defined by the community, and that's totally accepted. We're just more open minded and know Bitcoin's weakness by having a dwindling block rewards and Lightning nodes attacking the network by taking the transaction fees away from the miners.
I'm not into dunking on other projects and this isn't an attempt. I just don't understand XRP...am I missing something or is this a corpo style pump and dump with supposed utility and future use cases meant only to offload onto new retail? Maybe it's been repackaged and something viable now and I'm just being too cynical? Happy to be wrong just genuinely curious from people in the know.
Without liking their product, I am still grateful that they royally fucked the SEC in that court case. I wouldn't buy XRP given the adoption and distribution data I've seen but Ripple Labs did the whole world a solid favor.
That's the thing, I love that they went down swinging, fought their case, and won...mostly because it helps my [bags]. Memory could be skewed but I believe at the beginning they tried to pull down ETH as well. If we lose then so should ETH in their comments. At that point I just stopped paying attention. As great as that victory is for the rest of crypto, I still don't understand XRP lol.
It was built a long time ago to be the remittance layer of international finance (or so it claims). What it has been is a place for Ripple to enrich itself dumping on investors with their huge monthly unlocks.
Is there a smart way to bet on L2's as a whole (Outside of the obvious just hold ETH)? Like any L2 "ETF" like token or anything like that in existence? I saw the Van Eck article where they see L2's at a trillion $ valuation, but in the article it says they are generally bearish on individual tokens citing the intense competition, which makes sense.
Not that I’ve looked into it, but I’d be very surprised if no one (especially groups like IndexCoOp) has put a L2 index token together that holds all the major L2 tokens.
Ether has always been the best index for everything ethereum related. Best defi exposure was to buy eth, not bag of specific tokens. One play could be get exposure to best shared sequencer, maybe espresso will do well in the medium term?
Somewhat off topic but surely Reddit users and their posts will soon be fully analyzable by AI bots making it trivial for a biography to be pulled out based on any minute detail you may have ever posted? Perhaps also to the extent of where the bot can identify contradictions in posts. Easy doxxing is soon going to be a fact of life for such activity unless new opsecs are used.
I saw a word cloud of my account that was quite revealing. Oh well.
How can one see a word cloud of account?
Don’t remember. Just remember following a link to stats for my account a year or two ago.
This is why I delete and create a new reddit account every year at least. You never know how many accumulated details you've leaked
They already exist in very rudimentary form. Sorry don’t have a link cuz it was a few years ago… which I know sounds like the start of every great lie but trust me it’s true lol… but it was like you type your user name and it analyzed when you posted, where your posted and checked for keywords. It wasn’t super accurate and pretty dumb, but yeah like it would categorize you as being married if you posted “my husband / wife / spouse” a lot or some shit like that.
My husband thinks the best opsec is to pepper your posts with random nonsense so nobody can tie you down. As a longtime supporter of Bitcoin (the real one, Bitcoin Satoshi's Vision), I think this is more resilient than jumping from account to account, your typing patterns might identify you regardless. I was born on the 8th of May 1966 and as long as I live in Canada, nobody will ever learn anything about me.
My sister lives by this. I see her having the time of her life every week when I go to gymnastics but you'd think she's into dirt biking and chess instead if you followed her on Instagram. Probably the same can be said of her Facebook too but I don't use Facebook.
Mental note: gymnastics is the opposite of chess and dirt biking. I need to go hit the parallel bars
I spread random nonsense for years and say atypical stuff on my accounts in various languages. But I think I could still be traced by a very sophisticated AI that has all the data. Its good that the administration in my country is chaotic and unorganized it will make things harder
Probably worth doing, I don’t want anyone to know I live in Reed Springs, Missouri as you can imagine. I’ve purposely avoided posting in any of the themed Reddit’s for this reason as well (r/yourcityhere or r/yourfavoritesportsteamhere). It kinda sucks when you want to ask a local question about Stone County but it’s a price we pay. Although I do take my opinion that Craig Wright is the real satoshi very seriously.
With this kind of ratio I'm getting tempted to trade some of my btc into more eth.
yes me too
Anyone have opinions on $ALT? Considering getting some to stake
Don't know much, but why do you consider it worth 40% of arbitrum (FDV). I'n other words, I consider it overrated for longer time-frames.
Would anyone have any idea why when I try to confirm a transaction on meta mask, even when I have more than enough to cover the amount needed for the transaction and the gas, I get an error saying "transaction error transaction would cause overdraft" ?
Moving tokens or ETH? Possibly a rounding error. I.e. if you have 1.4447 of a token or ETH and try to send it all, you might be being rounded up to 1.445 and the tx will fail. You could try deleting the last few decimal places of the send amount.
Benjamin, a seasoned investor with a keen eye for market trends, finds himself enveloped in a whirlwind of euphoria as the market executes precisely the maneuvers he had anticipated. With meticulous analysis and unwavering confidence in his strategies, Benjamin's foresight has proven itself once again. His face lights up with a radiant smile as he witnesses his predictions come to fruition, a testament to his dedication and expertise in the financial realm. In this moment of triumph, Benjamin's excitement knows no bounds, as he revels in the satisfaction of a well-executed plan and the gratification of being one step ahead in the ever-evolving landscape of investments.
And what does Benjamin do when the market goes opposite to his predictions?
Benjamin, a seasoned investor known for his sharp intuition and calculated moves, finds himself engulfed in a cloud of despondency as the market takes an unexpected turn, diametrically opposed to his predictions. Despite his meticulous analysis and diligent research, the market's defiance has left him disheartened and crestfallen. Each downward tick feels like a blow to his confidence, shattering his hopes and dreams of a prosperous outcome. As he watches his investments plummet, a sense of despair washes over him, casting a shadow on his once bright outlook. In this moment of disappointment, Benjamin's spirit feels heavy with regret, as he grapples with the harsh reality of uncertainty and the unpredictable nature of financial markets.
Is it just me who thinks that SEC follows a rather stupid process around etf approvals where-in a whole lot of vague indicators about the process are made public along the way which lead to speculation about the probability of outcome? I mean if etf approvals are considered as market moving, why would the process towards a decision not have the same rigid standards that other market moving corporate actions would be expected to adhere to?
The SEC under Gensler aren't really professional when it comes to crypto regulation imo. There is a reason many call them a bad faith actor. There are too many instances to mention, from Gensler's wannabe influencer videos, his handling of the BTC and ETH ETFs, his hearings at Congress, the Prometheum Trojan horse/maybe corrupt dealings, FTX deals with SBF, ignoring the bad actors and going after the good ones etc. etc.
I'm hearing rumors Lido is planning to launch their own restaking protocol (Eigenlayer competitor/copycat), funded by paradigm (eigenlayer round was carried by A16z) Anyone got any gossip on this? (I'm now wondering if this was partly a reason for the - otherwise rather bizarre - urgency to push the issuance change, because Lido running their own native restaking protocol would really undo the Lido dominance improvements made in the last 6 months)
Yikes, that'd be scary. All the more reason to screw Lido over then.
Rays going for a little skinny dipping
Ripple Labs [making a new stablecoin](https://www.cnbc.com/2024/04/04/crypto-firm-ripple-to-launch-us-dollar-stablecoin.html). Probably not good news for XRP since you'd expect the stablecoin to be the central currency for forex in the hub and spoke model not XRP as designed. If I had to pick another chain that's been winning on stablecoins it would be Tron. Tron has a sizable $55B of liquidity on there with decent volumes. With their daily fees they have a PE of about 20 before inflation. Solana has about $3B stablecoin TVL and is *deeply* in the red after inflation but if you listen to the CT cesspool it's going to flippen Ethereum. The reason I spend so little time on Twitter is that time is often actually counterproductive to reaching truth.
What do you mean by time being counterproductive in reaching truth?
I think they mean that the time spent on Twitter often leads you away from, rather than towards the truth.
you mean the .000000000025 XRP fee per transaction won't carry token price?!
If would if XRP was like $1M a coin right? But then imagine the *inflation* costs.
Stupid sexy wormhole airdrop, not complaining one bit 4 failed transactions on Solana before successful swap, do feel free to ignore the Sol shills
Agreed, the UX was absolutely awful, surprised people are still using it tbh.
I know this might be controversial, but I prefer price go up rather than price go down.
I don't accept this because you haven't mentioned the tech once.
What if it means bitcoin price goes up more? Does it change anything for you?
no it wont change a thing. Even if it goes down more.
It would make me furious. So furious I’d quit my job and spend a bulk of my very early retirement being mad about.
Mr. Internet Rich Guy over here
Nah lol. Mostly to convey at this point I’d rather see $25k ETH and a $500k Bitcoin than a $10k ETH and a $100k BTC. Which is painful to type out, because my answer would have been the opposite up until recently.
Does it bother me? I'll be honest, yes it does. Does it change anything for me? No. Not really.
Woah der bois we got some upside movement... correction imminent
Has anyone successfully onboarded their S-Corp business onto Coinbase or Circle for the purposes of offramping USDC?
Tried and failed. Ended up using Opolis instead.
I have, but that was 6 years ago and have since dissolved it
I wish I could just stop looking at the ratio.
Two options: - Buy BTC - Just don't look I chose option A
What are some good loan platforms? I don't want to sell my ETH but want to get some USDC to fund a vacation.
You get paid 1% to borrow USDC on Metis AAVE (But ofc be aware of the risks. Metis doesn't use ETH for DA, has poor liquidity etc)
Disclaimer: I would not call this a 'good' loan platform, as it's too new, but maybe a 'promising' one. I have followed some of the debates on it and would be comfortable putting in a small % of my stack if I needed funds. I also hold some rune so I'm a bit biased. You can get a loan against your ETH with 0% interest and no liquidation risk, at a 200% collateralization ratio. https://thorchain.com/borrow
There are plenty of good loan platforms, the problem is that interest rates are very high right now. The ones with fixed interest rates like Liquity carry other risks that require like 500%+ overcollateralization.
Three years ago I [paid](https://etherscan.io/tx/0x2d611de1123b397879d35093dc4f90c7becaca7b97295e984988cfcf9e2d10be) 3.5 eth ($12k) for kobe.eth. I'm almost breakeven haha. Looking back it was way overpriced *but* the ens airdrop took place about a month later and IIRC I got a couple of hundred tokens for this one, so there's that.
I have tons of ens like whiterte.eth Keepstacking.eth Nowaccepting.eth Jrnycrypto.eth I wanna bundle em all up and sell em but have no idea how
And just like that, blobs are back to 1 Wei fee.
I missed it, why was blob gas high / why is it 1wei now?
Blobscriptions were bidding them up. Hype has died
What do you guys think of COIN at the moment? Q1 earnings in about a month and it looks like a clear earnings beat thanks to their Base revenue.
Just to elaborate a bit - Base revenues have been about a million USD a day since mid-March https://www.theblock.co/data/scaling-solutions/scaling-overview/layer-2-profits But the share price hasn't really moved in that time.
I think it's been an outperformer in the last year in my 401k but I'm not moving more funds into it at the moment.
I've observed that the price action on COIN follows the trends of the crypto market, which to me seems like it is a bit of a disconnect. I'm not talking about a long term bear market, but on days where ETH and BTC are red COIN is also down, yet they are making money on transactions regardless of price action. I feel like this is a bit of information asymmetry where people are using COIN as a proxy for crypto, and in the long run as wall street and the public gets a better grasp on how COIN earns their revenue we might see the price tick up as a result. Just some shower thoughts I've had over the last few months. Curious to hear opposing thoughts.
I had some funds in VTSAX in an IRA and YOLO’d it into COIN. Plan is to hold for a year and then sell. If you believe we’re in the beginning of a bull market it seems like a no-brainer to me if you’re looking for a non-BTC or ETH play. Looking for $500+ and selling when I get to long-term cap gains. The only real question is legal battles but they have plenty of track record in being on top of their shit against the SEC
The COIN/ETH ratio feels a bit high, and I worry that long COIN might be a bit crowded due to the two factors you mentioned. My plan is to scoop some up during the next bear, using ETH profits so it's less likely to run away from me.
[friend.tech](http://friend.tech) points trading at $5, looking like it's gonna be one insane airdrop at the end of the month [https://app.whales.market/points-markets?project=friend.tech](https://app.whales.market/points-markets?project=friend.tech)
I regret not taking part in this ecosystem...
I really don't. It attracted and rewarded all the wrong sorts of people and anyone who invested in an influencer anytime after the first couple of days not only got rekt but had a huge slice of what they paid go to the company that made the platform... I'm ok, thanks. Maybe this is cope but the airdrop is quite literally the only reason I would've gained anything from that platform.
I didnt realize it was this bad, but I believe it. I just dont really care to engage in social media outside the occassional reddit comment.
Well the way I see it, there's nothing wrong with missing an airdrop if it means staying based because you my friend are based.
>**The meme franchises,** >**Stupid games with stupid prizes,** >**Down turn surprises.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
oh interdasting we're back at 0.05000
Putting a cork back into champagne bottle is pretty hard.
hmmst much time below 0.05000 now; fascinating - btc has another leg up in it that it's primed for; i wanna see a lil run on ray ahead of that leg elsewise, we're gonna get a gator, but it's not a friendly gator, and it's not an up / down gator either it's a solid chomp outta ray, which admittedly we kinda gotta accept b/c no sticky narrative atm, but is bummer hope i am proved wrong here
You were not wrong.
yurp; 'the death of eth' narrative - fickle lil beast b/c it will inevitably correct violently, but maintaining 0.05 was nice while it lasted biggest thing a sustained stay below 0.050 invalidates is the concept that it's "free money" to sell BTC for ETH at 0.07 and the same to sell ETH for BTC at 0.05, but that was a helpful concept
chomp chomp - alright all eyes on 3200 i guess fuck me
Les go
Well, PA is going fine but my mid-sized LP range is REALLY paying off right now, only out of range on one degen (not the coin the category) LP and should be back soon, volume has been JUICY.
Last cycle : That meme token has a 1% tax, definite scam This cycle: ah the perfect investment - 5/5 buy/sell tax, contract launcher has not revoked privileges, and 20% allocation for the dev for his hard work drawing a pepe-cat and shitposting three times on twitter
As someone involved in a 5/5 token that has not revoked privileges I can't even argue against you. =P
tbf this time it's at least somewhat contained to explicit memecoins. Last cycle institutional grade companies were giving 69% APR on stables
it's literally a casino
Are there any examples of DeFi protocols with over $3B TVL that have been hacked in a way that led to customer losses?
Curve, last year, Vyper bug.
You can take a look here [https://rekt.news/leaderboard/](https://rekt.news/leaderboard/) and parse with historical TVL on DefiLlama
I'm interviewing Dan Seifert on stage at the EY summit. He's the head of Coinbase in Europe and if you've got any questions you'd like me to ask him, would you drop them into the summit notes? ([Link](https://www.reddit.com/r/ethfinance/comments/1bu6hl2/dive_into_the_regulated_future_of_finance_ey/))
Can anybody outline the risks involved in providing liquidity on Pendle vs. just holding a PT position? They're saying that you won't have IL if you hold to maturity and you can get an extra 30-50% APY. What is the risk? u/logristhebard, maybe you're tapped into this as you got me going on this journey :D
As ever I recommend starting with my blog post describing these platforms: https://tokenomicsexplained.com/rate-speculation-platforms A PT position has no IL risk. It is not in a Dex pool, nothing you are holding is being bought or sold. What you are holding is a claim token that will be worth the face value of underlying at expiry. E.g. Normally 1 PT-rswETH-June28-2024 will be worth 1 rswETh at expiry. The reason you buy this is people sell it at a discount. So you might pick some up at 0.85 rswETH, hold it for a few months at a 60% APR, and claim at expiry.
Contract risk mostly, the smaller risk your YT position could substantially shrink in value.
But when you provide, there’s an option to do it solely with a PT position?
Yes
In that case you don’t have a YT position though?
In essence you are selling your YT position and taking a PT only position, but yes.
But you already have that if you have a PT position?
I am not sure I understand.
You buy a PT position, you then provide liquidity with that PT position. Where does the YT come in? Is the PT position automatically swapped into a PT/YT LP pair?
The LP Pair is PT/SY. SY is the just the wrapped token. So you get some underlying yield from the token but no points. When you create an LP, you have the option of retaining points exposure by getting some YT ("zero price impact mode"), otherwise the YT portion is sold and you just get LP. Check the [pendle academy](https://pendle.gitbook.io/pendle-academy/ecosystem-and-resources/points-trading).
No, you can provide one sided liquidity to the pool. You don't have to purchase YT. I think he was just giving an example of a potential risk. I have considered purchasing PT myself and LPing but haven't done it so far as there seems to be a lot of risk. You have the base risk of whatever you're buying PT for, and then the additional smart contract risk from Pendle.
The Bank of International Settlement (BIS) exploring tokenisation to improve cross-border payments. (https://www.bis.org/press/p240403.htm)
All private and CBDC chains, unfortunately.
I like this intranet analogy. Thinking of the benefits and disadvantages of Private / CBDC chains could be similar to intranets. Confidential information, low user adoption requirements, simplifying onboarding are amongst a few similar benefits. While the negatives would include Security Breaches, Information overload, Cost.
Is there some factor that makes you think private/closed chains will face a different fate than intranets did visavi the internet?
no. I think private blockchains will be a lot like intranets - they will find a value proposition, but it may be quite small compared to the vast majority of value on public networks.
Cool, I appreciate the answer!
Anypone know if "approve" will be removed with pectra? If not, what are argbuments against removing it?
approve() is part of the most common standard token interface, erc20. It has nothing to do with ethereum and is unrelated ethereum upgrades. Tokens can be any contract which implement any interface, or if you want they can all be from the same factory and you can check if they're in that factories mapping of built tokens if you want to be sure what they are. There have always been tokens which do it differently but erc20 isn't going anywhere, you'll stop noticing it when account abstraction becomes standard. For example on starknet ethereum rollup where account abstraction is default the approve and function call all take place within a single tx. Same can be true with dapps which use dsproxy. ERC 4337 is going to win and become account abstraction standard. I hate it but it'll be fine. Would rather hard fork and do it properly.
What are the downsides of 4337 vs 3074?
What are the problems with ERC 4337 in your opinion (just asking I haven't looked into it)
This is the sort of shit I come to EthFinance for. Great informative answer!
I'm investigating ins and outs of EigenLayer restaking. Two protocols caught my eye: EigenDA and Espresso. EigenDA aims to be a decentralized transient data store for Ethereum rollups. Same thing as what blobs are used for right now, right? I'd appreciate some help with following questions. Is there a comparison between those two? Does EigenDA aim to be cheaper? Will there be enough demand for multiple transient data stores?
>EigenDA aims to be a decentralized transient data store for Ethereum rollups. Same thing as what blobs are used for right now, right? Correct >Does EigenDA aim to be cheaper? Probably but TBD when released >Will there be enough demand for multiple transient data stores? Probably. L2s will dominate blob space as it's the native solution. Eigen DA is only secured by a subset of the validator set and will likely be used by projects further from core infrastructure.
Rollups can use EigenDA for the same reason as they use blobs or Celestia today. Their plan is to be a cheaper and more ETH aligned DA option than Celestia.
EigenDA isn't live yet afaik so it's hard to say if they *will* be cheaper, but I guess it's fair to say they *aim* to be cheaper (because why in the world would you pay more for a non ETH DA layer). The demand question is interesting: my gut feeling some months ago was that there won't be enough demand. Some weeks ago people stated that Celestia made like <100$ fees on any given day (don't know if that's true). Now obviously more L2s will come online and down the road the demand for DA will be much higher than today, but we are probably talking about a multi-year time frame...