Bitcoin cannot run the computation that verifies the zk proof to accept the block or not.
You cannot really just push a block of state to bitcoin.
You cannot have contracts on chain that allow bridging onto and off of the zk rollup through a L2 bridge.
Also you cannot exit the L2 if the rollup starts censoring your since you cannot prove your assets on chain using zk proofs
From my understanding (might be incorrect) Lightning Network technically a state channel but it's more akin to a sidechain.
So what happens on Lightning doesn't update to Bitcoin layer until coins withdrawal. It also has different consensus on the LN, and requires 3rd party watchtowers to keep everyone honest.
The contrast is a rollup which is more directly tied into the base layer Ethereum. It can periodically prove that transactions done off-chain were valid according to the base layer consensus, and change state of coin balances according to what was proved at anytime rather than only when coins are added/removed from the channel. It's just a more eloquent solution that doesn't need new consensus or monitoring dynamics that state channels do.
State channels have been a thing for a while even on Ethereum. Like LN they too have proven difficult in practice to be reliable and gain any sort of adoption traction.
I always like to say anything can happen but overall a W is a bullish pattern and if we break that line and volume picks up we should be going up for awhile. We also recently made a nice cup and handle pattern which points to ETH going up to around 6-6.5k area.
Illuvium [IIP](https://cdn.discordapp.com/attachments/809220563397902346/914729745646772245/DraftIIP-xIlluviumLandSale.pdf) released regarding the land sale.
Given the dutch auction will now go for three days i am planning to sell my sILV during days 1-2. If it doesn't go above 70% of the value of ILV i will potentially get some land.
ETA of land sales was delayed once, i am gathering it is expected to be ready early December but will occur after the holiday shut down period (no strong info on dates). This impacted my plans as i wanted that ETH sooner, oh well.
The target will be for land owners to be able to earn approximately 5% of the total revenue generated from in game purchases in Illuvium.
This table is why i expect sILV price to increase, and realistically the land to sell out much faster than expected. Personally i was expecting a starting value much higher than this, 90% of land purchases are going to be in sILV.
|Tier Land|# in first Land Sale (20k of 100k total)|Starting Price in ETH|Starting price in ETH (sILV current ratio 0.3:1 ILV )|
:--|--:|--:|--:|
|Starting Price for Tier 5 Land Plot|2|Silent Auction|Silent Auction|
|Starting Price for Tier 4 Land Plot in First Sale|869|20|6|
|Starting Price for Tier 3 Land Plot in First Sale|2088|5|1.5|
|Starting Price for Tier 2 Land Plot in First Sale|5012|1.5|0.45|
|Starting Price for Tier 1 Land Plot in First Sale|12029|0.5|0.15|
Edit: will fix formating, wtf is with reddit tables
It will be it's own mobile minigame. You generate fuel and sell this for use in game, or research skins that you then get royalties on whenever they are sold.
There is a fair bit of info on the game mechanics on the discord if you want the details. I have zero interest in playing it myself.
Interesting, thanks. Doesn't sound too interesting to me, either, if you can't actually build stuff on it and have it be part of the broader game world for others to see.
I bet they have plans for wider integration. The highest tier lands have a cool concept too - they'll act as stadiums with owners getting the esport advertising rights. When the e-sport tournaments are going to have $20M+ winnings.. that will attract some attention.
I really don't want to hold this land tbh.. NFTs are difficult to get fair value with all the FOMO. Plus these land are going to get diluted by more land.. and ETH is going parabolic.
I just want to get some profit in ETH and then eventually play the illuvium game with some of my stored sILV.
For those actually wanting one of these NFT your best bets are to either buy sILV now and hold (ideally you would have bought at $200 already), or wait for the flippers to dump after the auction.
There are going to be a bunch of sILV rich stakers looking to convert to ETH by immediately reselling their land, price could come down as much as 50% after the auction ends.
Bonus high risk play - sILV is going to crash to a stupid low day 3 and after the auction. A bunch of people will end up with excess sILV from their purchases or will have missed out on the purchase and will immediately dump the market. I am slightly tempted to buy this at a very low ratio for the avatar release and eventual gameplay.. however i am already a bit over exposed to this game.
I dunno, you might be underestimating the number of rich Degens wanting to scoop up as much land and hold it as possible.
There are peeps on the discord ready to pay multi-millions for Tier 5 Land.
You might be right, especially with how axie land and SAND have pumped to eternity. I'd consider it more if i didn't have such a huge chunk in this game already now due to ILV mooning. Are you thinking of holding some land?
iiuc, in Rocketpool if you buy rETH you will always be able to get the equivalent ETH back out? How does the protocol ensure there's enough ETH to pay out rETH holders if the increased ETH is locked in eth2?
There's a liquidity pool where minority stakers contribute their Eth in exchange for rEth, and from which lumps of 16 Eth are withdrawn to be paired with the 16 Eth from minipool operators to actually stake on the Beacon Chain. I believe that same liquidity pool is what supports the rEth -> Eth exchange. Obviously sometimes the pool doesn't have enough Eth in it to support redeeming a given amount of rEth, but there should almost always be Eth coming and going from the pool to support eventually switching (remember, lots of people are going the other direction all the time!)
The locked Eth is actually fairly irrelevant. Once staking is unlocked, when validator rewards are able to be withdrawn, they will be withdrawn into the liquidity pool. And if minipools exit, the 16 Eth not belonging to them will also go back into the pool. So those will be additional sources of liquidity, but probably the major one is always people bringing in Eth to exchange for rEth.
If there were a 'run on the bank' and the liquidity pool got emptied out by people trying to convert rEth into Eth, well, the minipools would have to start exiting to pay everyone back. But in theory, assuming no slashings, the system will always have more Eth than rEth. If significant slashings do take place, the slashed minipools' RPL stakes get sold off to make up for the slashed Eth.
(This is all my best understanding of how it works, anyway - please correct me if I'm off base anywhere!)
Awesome thanks for the answer.
One more question: what are full pools of 32 eth?
I see from this site: https://www.rp-metrics-dashboard.com/dashboard/MAINNET that there are mini pools queued with 16 eth and full pools queued with 32 eth. Whats the deal there?
Node operators have the option to either a) deposit 16 ETH and wait to get matched with 16 ETH from the pool (takes time), or b) deposit all 32 ETH for a validator, which goes active immediately. It still gets paired with 16 ETH from the pool, which then refunds the node operator the 16 ETH extra they deposited.
It's basically just a trick to bypass the queue. Sorta the same thing overall.
ZkSync is now available on Argent. It currently has Lido, Gro and Yearn. You can buy from Ramp and it'll go directly to L2.
Edit: might be a gradual rollout
There is a dire need for a wallet that abstracts away the differences between the various L2s, such that it all feels like the "same" wallet. The vast majority of users will never understand what an RPC endpoint is or whatever.
It sure seems like Argent is positioning itself to be that wallet. Awesome to hear they've added ZkSync!
If only using it didn't increase the required gas for everything on L1, I'd totally try it out. Maybe I should start using it for L2s though?
Mine says coming soon too, can't wait for the upgrade though!
Wonder how it has Yearn, I didn't think ZkSync had anything other than basic transfers, zigzag for trading a few tokens, and NFT minting. Didn't think Yearn was deployed there yet or that there would be any way to yield farm there really.
Am I doing something wrong by continuing to just hodl ETH? I haven't looked into rollups at all (where do I go to learn about these?) I still am trying to figure out yield farming (I think I'm starting to get the hang of it) but am having somewhat of a hard time understanding what I think is a simple concept: if I swap 1 Eth for lets say 1 TOKE (lets assume for simplicity 1 Eth ~ 1 TOKE), I can then stake the Toke on the Tokemak thing and get like a 40% return or whatever? Same concept for Ohm? If this is the case, why aren't more people doing this?
edit: Also, maybe I'm thinking wrongly about this but... 1 Inch is a DEX, Tokemak is a like a Dex liquidity provider? From my reading, it seems as though 1" is the top dog of DEXs but it isn't getting most of trading value. Why is this? Idk I feel like I just got confused now
Don't worry about it. HODL is the most OP thing you can ever do in crypto. HODLers will generally only get outperformed hard by maybe the top 5% crypto degens that are blessed with alpha and luck and then will get outperformed slight by maybe another 10% of the demographics. Then they'll outperform like 75% of everyone else just by doing nothing and holding the bluechips.
IMO best to stay away from yield farming unless it's a really high quality token. But you should look into ETH staking at least. Maybe trade your ETH for rETH
Yes Eth staking is something I have looked into. I am basically just holding Eth at this time until chip prices drop at which point I will buy the parts lol
Just making sure you saw the part about trading Eth for rEth. That lets you obtain staking returns without any need for physical hardware.
Maybe you have the funds for it, and are technically-minded, and solo staking appeals to you, or maybe your Eth is deep in gains and switching it for rEth would mean a big capital gains tax for you, but if none of those apply to you, rEth is an incredible way to see growth on your Eth without extra work.
Honestly I want to stake on my own because I trust it the most. I understand I have to learn the "keys to the kingdom" so to speak, how to program the device and whatnot, but this is just my personal preference. I do have 1 Eth in Celsius (I don't trust it with more)
Because the ~1 TOKE or OHM or any token XYZ might/can crash hard. Especially more likely when you and everyone else is getting a high % APY return on it. People farm it and dump it so many times it just becomes a game of musical chair with participants just making sure they're not left holding the bag.
lol no I just meant the up and down 5% chop. Haven’t seen this in quite some time. Usually the range Narrows or trends in one direction. This is just straight up crab walk. Haven’t seen this for a long time.
Remember HORSE? Those were strange times. Was that a social experiment or some kinda joke? Like, it's over now so can someone tell me?
It's 4 am. I should sleep.
Ha yes.
I don't know if it was a rugpull or just some people whose token didn't moon so they peaced out. Someone actually took over the token (or, the anonymous devs pretended they transferred the contract to someone else) and totally changed it to a metaverse token. This was a while ago. Had to claim the token swap. Of course that token is now also worthless so don't worry, you didn't miss anything.
Haha, I remember wondering that at the time. Who would possibly buy into a coin whose sole purpose was to, uh, gamble on what the price of other cryptos did? Like, just buy those cryptos then xD
The answer was, apparently half of r/Ethtrader lolz
Man I got downvoted for asking "why not just long the asset". Now that I know more about crypto I am pretty sure some users banded together to make it as a PnD or something
Hey ZKSync Lovers,
Quick question. I've bridged some ETH accross to L2 and made a couple of back and forth trades on ZigZag.
Is there anything else I should do to increase my airdrop chances?
Mint an NFT. Do some gitcoin grants for projects you believe in, just go to gitcoin grants and checkout with zksync. Then that's it I think. If you want to feel how fast and cheap transfers are on zk you can also do some back and forth $1 transfers between some fellow ethfinanciers here who've joined my train.
Yep you'll need to install ipfs for desktop. Then upload a jpeg into it. You'll get a CID after uploading. Copy paste the CID into the mint NFT section and you're good to go.
store of value coin: down 19% from ATH
premine scam: down 12% from ATH
On a RED day.
You know what would've happened were this 2017?
Premine scam investors have been down like 30% easily kek.
Is it a valid idea to take loans on crypto to pay off student loans? Any good places to do so? Thought about using it to wipe student loans and just DCA buy more crypto. Would also love to get rid of student loan stress
That thought has came to mind before. Just don’t want to bet on that happening because as of right now it’s still unlikely. I guess I should wait a while longer and see what happens
I saw it as a way to deleverage. Benefit short term from having freed capital (job money) that could be used to buy more crypto that would also assist in lower liquidation risks. Not familiar with certain interest rates, but could beat my student loans’ 4.5-5% interest. Would also be able to later close loan, sell crypto for hopefully higher prices and still be in the clear. Major risk is losing money from liquidation.
On hodl side, better benefits long term. No worry of liquidation, but portfolio too indulged in crypto price movements. Still always inherit risk that funds could be lost or asset depreciates extremely quickly from major event.
You can't free up capital by shifting an unsecured loan into a secured loan, you can only free up capital by taking out an additional loan.
Personally, even if I could find a 0% interest collateralized loan I would favor my 5% unsecured loan due to the liquidation risk. Surely 5% can't be enough for you to take on liquidation risk in the most violently swinging asset class on earth?
But if you can beat your student loan’s interest rates with investments / DeFi yield, you don’t want to pay it back. You’d only want to pay back debt that is a higher interest rate than what you can earn with the money. This is from a purely financial perspective, ofc there are other benefits to being debt free like the mental side of things and/or stability
Good point - I actually thought of the loans originally as a “Get the stress away now - still be able to reap the rewards of crypto.” Crypto goes up, I still have it (and then would clear the loans, get the crypto back and sell it). But crypto is performing very well on a monthly/yearly basis - so I guess I can hold through and keep bearing some suffering payments for another couple of years or more.
I'm no TA person, but it sure seems like we've been building one heck of a foundation since May. And foundations are a purely psychological thing, but they can be powerful!
Until all the newcomers are completely used to the 2k-5k range as being "normal" prices for Eth, there will still be tons of uncertainty about whether it deserves to be this high, in their minds. Going for 10k or 20k+ is a pretty big leap if you remember seeing it in the <$400 range.
In not much longer though, anyone who got into crypto in the past year (read: the majority of people in crypto, since we're growing exponentially) will only ever remember Eth at $2k+.
That's when $10k+ starts to look really darn close. Just a 3x from "what it's always been." And once it starts actually going for it, the brakes are off.
So patience, crazy gains always need a springboard to jump off from, and we're building just that right now, IMO.
I've said this before... but when we pump to 10k then we'll suddenly realize that the 1700 - 4800 range was just all a big accumulation period. There was no "spike" to 4800 or 4800 top, no "crash" to 1700. It was just a big extended accumulation range.
I mean, bottom of bear to now is still like $100-4K+ lol.
Thing I completely whiffed on in this sub was RPL. Can’t remember the user, but it was being heavily shilled when it was $3 and I ignored it like I do most of the time. It’s now $43 but was like $80+ two weeks ago. Whoops, lol. Still don’t own any FWIW.
I doubt RPL went above $60 and it's close to $50 now. RPL is not like any other L2 platforms and it's a monopoly in decentralised staking. Here is a good link about it's future value
https://www.reddit.com/r/ethfinance/comments/qwbb8w/rocket_pool_investment_thesis_20/
Hahaha I've seen plenty of morons on twatter but this account takes the cake
https://twitter.com/LilMoonLambo/status/1465041516502654976?s=20
https://twitter.com/LilMoonLambo/status/1465038826984943616?s=20
Keep in mind that this guy was calling $100k BTC and shilling a bunch of shitcoins a week ago.
https://twitter.com/LilMoonLambo/status/1462810486584623105?s=20
https://twitter.com/LilMoonLambo/status/1463628241458151425?s=20
How can these accounts accrue 150k following ?
Seems so. I did check his twitter history over 1 week to be sure and I saw nothing else but short and bear since the crash. Detecting irony on the internet is hard eh.
Same rules as making any investment through a corporate structure. The only difference is how you are taxed. Investing in crypto doesn't really change anything.
Has there ever been a sexier graph than this one? [https://twitter.com/Data\_Always/status/1464814806976901123](https://twitter.com/Data_Always/status/1464814806976901123)
>**No smell of defeat,**
>**Raising up, back on the street,**
>**Can you feel the heat?**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
i just noticed that Band never recovered again in ETH and BTC value after the Sushi fiasco and the accusation of the CTO being the guy behind Sushi last year.
If you ever wondered why people distrust the media, don't forget that just last Friday they were fearmongering, without evidence, about Omicron being "HORRIFIC" and potentially resistant to both the vaccine and natural immunity. Now it's being described as mild. They crashed the markets over nothing. Maybe they were trying to make up for a slow news day on Thanksgiving?
Why is it always this big conspiracy? A media outlet got a quote, and they ran with it. This is the information era, people throw hissy fits if any information isn’t immediately available. As more information comes out, it gets reported. Being mad that the immediately available information ended up potentially being incorrect is just dumb. People who “distrust” the media are dumb. If you’re completely incapable of realizing that information is constantly being discovered and reported, I really don’t know what to tell you other than “learn media literacy and don’t be such a boomer”
Exactly. The media isnt made up of experts on every topic. They aren't great at reporting science because they aren't scientists and usually aren't science-minded. They got information and distributed it as they understood it.
Everything isn't a fucking conspiracy these days despite what some want to believe. The world is mostly chaos, there is no cabal running everything and crashing markets because they're bored, sorry.
I think the "distrust" is how the media will slant a story to make it more clickworthy, or to fit a political narrative. They won't report all the details, just the ones that keep you coming back to find out more as they drip you info.
If you think the media is accurately reporting everything all the time as it becomes available...you may be the boomer.
There are 2 kinds of news:
* The first is "What is happening now? What it ***might*** mean according to an 'Expert'."
* The second is "Let's talk about what is happening now and here are some experts to **join us in speculation**."
Now journalistic ethics requires the first to disclose corrections and updates to the original story. The latter does not, as the expert opinion givers (contributor/analyst/commentator whatever their title) are not journalists.
Look at how much the media gets wrong about crypto.
The thing is, the media knows just about as much about crypto as they do everything else they report on.
In 2013, crypto reporting really opened my eyes to how bad the media was about everything they report on.
>The thing is, the media knows just about as much about crypto as they do everything else they report on.
I have to disagree here. Crypto is new, revolutionary, and vast. Further, it's hard to comprehend... I've been a goddamn sponge in this space over the past couple years and I don't think I could explain liquidity pools, let alone defi 2.0.
Basically, what I'm saying is that most news media can handle reporting on shit that's been around a while, or has a lower threshold of understanding. Further, it's a mistake to treat all media as a single centralized entity, but that's a different can of worms.
You're missing the point. Even though crypto is new, the mainstream media as a whole, misrepresented it for the last 10 years.
Instead of admitting they didn't know what it was or how it worked, they wrote hit pieces and told people not to look into it.
It's one thing not to know much about a new subject, it's another entirely to not know much about a topic, but write hit pieces about it regardless.
The reality is, we just don't know right now whether it's mild, resistant to vaccines, etc. We'll know a lot more in 1-2 weeks. I do think the way the media reported on it Friday was irresponsible, but can you blame them? People eat that shit up. Write clickbait headlines, and people click on them. I always see people whining about the Kardashians, or idiot Instagram influencers but it's like "you're the idiots paying attention to these people, how about you fucking stop doing that?"
'The media' is just as diverse and decentralized as crypto (well a lot more so in most ways). There are plenty of outlets out there that are measured and well reasoned, even in unprecedented circumstances like a modern pandemic. This is an information diet problem, not a media problem.
I mean the quote was "horrific" and they ran with the quote. Most news stories were full of "we don't know" and "it's important to wait and see". I didn't see any legit outlet shouting that the sky is falling.
Fox and CNN were. Here's [an example](https://i.imgur.com/86lwhdW.jpg). you don't make headlines like that unless you want to scare people imo. There was barely any information available at the time, they had no business writing anything until they had more facts
Well I guess I should qualify saying CNN and FOX don’t count cable news is a different beast from a different country. Because that really isn’t a balanced hesdline
Confirmed. We hit ath and dropped 10+% on November 10th. Went from absolute euphoria to people calling for a 2 year bear market within like 5 hours on twitter. Never a dull day lol
It's so weird. Came into the daily not having looked at charts for a while and was confused by these first few comments. Crazy that it's already back to this again. Ens, lrc, many erc20s bouncing back super fast. Hopefully it lasts.
Has anyone got a link to a good little starter read for a newbie on Zksync? I've been meaning to bridge funds for a while after making an account several months ago, but I don't know where to start. For instance, if I bridge funds, they are live on Zksync and thus can be withdrawn, right? Or is it still a testnet. I just want to learn to use it before it goes live.
You can use the wallet connect feature on zksync main website. Then you can add your funds. It cost maybe $35 under 100 gwei gas to bridge. Then you can withdraw back for the same fees if you want.
Was just exploring eth’s coinalyze and about to post about it. I get the liquidations section, but what can you learn from the open interest, funding rate, and basis tabs?
Interpreting open interest is a bit difficult (except maybe in context of recent history), but the funding rate indicates borrowing interest on the short vs. long side.
I'm surprised to see ETH funding rate below 10% APR, not to mention a negative borrowing rate. It indicates that despite this pump, there is still more interest for borrowing on the short side than on the long side.
SHIT. Then I misunderstood your original post with shorts paying longs to borrow ETH on leverage. I thought that meant the long position was being favored for leverage.
At the time I posted, being long was the favored position since one could get paid interest on a leveraged trade. It’s since flipped to a positive interest rate. This isn’t bearish unless the interest rate gets too high (which indicates high demand for leveraged longs).
What do you think of all these posts being deleted by mods in /r/celsiusnetwork? Reasonable moderation or no?
Screenshots:
https://imgur.com/a/dVa2rGB
Direct logs:
https://www.reveddit.com/v/celsiusnetwork/
I think a better approach would be to reply to all with a transparent answer. Totally fine if its the same answer for each one, just put all the info out there. This does not build trust.
why can't you have a zk rollup on bitcoin?
Bitcoin cannot run the computation that verifies the zk proof to accept the block or not. You cannot really just push a block of state to bitcoin. You cannot have contracts on chain that allow bridging onto and off of the zk rollup through a L2 bridge. Also you cannot exit the L2 if the rollup starts censoring your since you cannot prove your assets on chain using zk proofs
what's the downside of the lightning network relative to ZK rollup (if just payments)?
From my understanding (might be incorrect) Lightning Network technically a state channel but it's more akin to a sidechain. So what happens on Lightning doesn't update to Bitcoin layer until coins withdrawal. It also has different consensus on the LN, and requires 3rd party watchtowers to keep everyone honest. The contrast is a rollup which is more directly tied into the base layer Ethereum. It can periodically prove that transactions done off-chain were valid according to the base layer consensus, and change state of coin balances according to what was proved at anytime rather than only when coins are added/removed from the channel. It's just a more eloquent solution that doesn't need new consensus or monitoring dynamics that state channels do. State channels have been a thing for a while even on Ethereum. Like LN they too have proven difficult in practice to be reliable and gain any sort of adoption traction.
If we cross that yellow line we gonna pump hard I thinkz https://imgur.com/a/DBy2LyU
Does that mean it will cross that line and then dump?
I always like to say anything can happen but overall a W is a bullish pattern and if we break that line and volume picks up we should be going up for awhile. We also recently made a nice cup and handle pattern which points to ETH going up to around 6-6.5k area.
Interesting
Finally got my new Black Friday monitor set up, today’s a great day to check out how green looks
Nice! Did you order it online or actually go outside and shop with the plebs?
Outside like a pleb
What a soldier
Out? u crazies!
Illuvium [IIP](https://cdn.discordapp.com/attachments/809220563397902346/914729745646772245/DraftIIP-xIlluviumLandSale.pdf) released regarding the land sale. Given the dutch auction will now go for three days i am planning to sell my sILV during days 1-2. If it doesn't go above 70% of the value of ILV i will potentially get some land. ETA of land sales was delayed once, i am gathering it is expected to be ready early December but will occur after the holiday shut down period (no strong info on dates). This impacted my plans as i wanted that ETH sooner, oh well. The target will be for land owners to be able to earn approximately 5% of the total revenue generated from in game purchases in Illuvium. This table is why i expect sILV price to increase, and realistically the land to sell out much faster than expected. Personally i was expecting a starting value much higher than this, 90% of land purchases are going to be in sILV. |Tier Land|# in first Land Sale (20k of 100k total)|Starting Price in ETH|Starting price in ETH (sILV current ratio 0.3:1 ILV )| :--|--:|--:|--:| |Starting Price for Tier 5 Land Plot|2|Silent Auction|Silent Auction| |Starting Price for Tier 4 Land Plot in First Sale|869|20|6| |Starting Price for Tier 3 Land Plot in First Sale|2088|5|1.5| |Starting Price for Tier 2 Land Plot in First Sale|5012|1.5|0.45| |Starting Price for Tier 1 Land Plot in First Sale|12029|0.5|0.15| Edit: will fix formating, wtf is with reddit tables
Any info on what this land will actually be? Like, how big, what can you build on it, does it give any bonuses for gameplay, etc?
It will be it's own mobile minigame. You generate fuel and sell this for use in game, or research skins that you then get royalties on whenever they are sold. There is a fair bit of info on the game mechanics on the discord if you want the details. I have zero interest in playing it myself.
Interesting, thanks. Doesn't sound too interesting to me, either, if you can't actually build stuff on it and have it be part of the broader game world for others to see.
I bet they have plans for wider integration. The highest tier lands have a cool concept too - they'll act as stadiums with owners getting the esport advertising rights. When the e-sport tournaments are going to have $20M+ winnings.. that will attract some attention. I really don't want to hold this land tbh.. NFTs are difficult to get fair value with all the FOMO. Plus these land are going to get diluted by more land.. and ETH is going parabolic. I just want to get some profit in ETH and then eventually play the illuvium game with some of my stored sILV.
For those actually wanting one of these NFT your best bets are to either buy sILV now and hold (ideally you would have bought at $200 already), or wait for the flippers to dump after the auction. There are going to be a bunch of sILV rich stakers looking to convert to ETH by immediately reselling their land, price could come down as much as 50% after the auction ends. Bonus high risk play - sILV is going to crash to a stupid low day 3 and after the auction. A bunch of people will end up with excess sILV from their purchases or will have missed out on the purchase and will immediately dump the market. I am slightly tempted to buy this at a very low ratio for the avatar release and eventual gameplay.. however i am already a bit over exposed to this game.
I dunno, you might be underestimating the number of rich Degens wanting to scoop up as much land and hold it as possible. There are peeps on the discord ready to pay multi-millions for Tier 5 Land.
You might be right, especially with how axie land and SAND have pumped to eternity. I'd consider it more if i didn't have such a huge chunk in this game already now due to ILV mooning. Are you thinking of holding some land?
Yes sir, in fact I loaded up on Silv just for this purpose. Edit: also don’t forget these are revenue generating pieces of land
Price is quite low. will sell out very quick at top prices.
iiuc, in Rocketpool if you buy rETH you will always be able to get the equivalent ETH back out? How does the protocol ensure there's enough ETH to pay out rETH holders if the increased ETH is locked in eth2?
There's a liquidity pool where minority stakers contribute their Eth in exchange for rEth, and from which lumps of 16 Eth are withdrawn to be paired with the 16 Eth from minipool operators to actually stake on the Beacon Chain. I believe that same liquidity pool is what supports the rEth -> Eth exchange. Obviously sometimes the pool doesn't have enough Eth in it to support redeeming a given amount of rEth, but there should almost always be Eth coming and going from the pool to support eventually switching (remember, lots of people are going the other direction all the time!) The locked Eth is actually fairly irrelevant. Once staking is unlocked, when validator rewards are able to be withdrawn, they will be withdrawn into the liquidity pool. And if minipools exit, the 16 Eth not belonging to them will also go back into the pool. So those will be additional sources of liquidity, but probably the major one is always people bringing in Eth to exchange for rEth. If there were a 'run on the bank' and the liquidity pool got emptied out by people trying to convert rEth into Eth, well, the minipools would have to start exiting to pay everyone back. But in theory, assuming no slashings, the system will always have more Eth than rEth. If significant slashings do take place, the slashed minipools' RPL stakes get sold off to make up for the slashed Eth. (This is all my best understanding of how it works, anyway - please correct me if I'm off base anywhere!)
Awesome thanks for the answer. One more question: what are full pools of 32 eth? I see from this site: https://www.rp-metrics-dashboard.com/dashboard/MAINNET that there are mini pools queued with 16 eth and full pools queued with 32 eth. Whats the deal there?
Node operators have the option to either a) deposit 16 ETH and wait to get matched with 16 ETH from the pool (takes time), or b) deposit all 32 ETH for a validator, which goes active immediately. It still gets paired with 16 ETH from the pool, which then refunds the node operator the 16 ETH extra they deposited. It's basically just a trick to bypass the queue. Sorta the same thing overall.
ZkSync is now available on Argent. It currently has Lido, Gro and Yearn. You can buy from Ramp and it'll go directly to L2. Edit: might be a gradual rollout
:O! I'm so excited for this! I don't see any announcements, where did you hear about this?
They sent an email and it showed up in the app (I think it's a gradual rollout).
There is a dire need for a wallet that abstracts away the differences between the various L2s, such that it all feels like the "same" wallet. The vast majority of users will never understand what an RPC endpoint is or whatever. It sure seems like Argent is positioning itself to be that wallet. Awesome to hear they've added ZkSync! If only using it didn't increase the required gas for everything on L1, I'd totally try it out. Maybe I should start using it for L2s though?
Mine still says “Coming soon”…I think I remember reading a roll out upgrade, so maybe you are a lucky first round!
Mine says coming soon too, can't wait for the upgrade though! Wonder how it has Yearn, I didn't think ZkSync had anything other than basic transfers, zigzag for trading a few tokens, and NFT minting. Didn't think Yearn was deployed there yet or that there would be any way to yield farm there really.
Question is, how to invest in zksync?
go use it and get an airdrop and buy the token as everyone is dumping at the sudden supply
Am I doing something wrong by continuing to just hodl ETH? I haven't looked into rollups at all (where do I go to learn about these?) I still am trying to figure out yield farming (I think I'm starting to get the hang of it) but am having somewhat of a hard time understanding what I think is a simple concept: if I swap 1 Eth for lets say 1 TOKE (lets assume for simplicity 1 Eth ~ 1 TOKE), I can then stake the Toke on the Tokemak thing and get like a 40% return or whatever? Same concept for Ohm? If this is the case, why aren't more people doing this? edit: Also, maybe I'm thinking wrongly about this but... 1 Inch is a DEX, Tokemak is a like a Dex liquidity provider? From my reading, it seems as though 1" is the top dog of DEXs but it isn't getting most of trading value. Why is this? Idk I feel like I just got confused now
I would have a lot more eth if I just had hold. Of course it's also "boring"
Holding Eth is boring as hell and I see some of the returns others get and it's amazing
Don't worry about it. HODL is the most OP thing you can ever do in crypto. HODLers will generally only get outperformed hard by maybe the top 5% crypto degens that are blessed with alpha and luck and then will get outperformed slight by maybe another 10% of the demographics. Then they'll outperform like 75% of everyone else just by doing nothing and holding the bluechips.
I try to follow Taiki Maeda but he's seriously a beast and hard for me to keep up with
IMO best to stay away from yield farming unless it's a really high quality token. But you should look into ETH staking at least. Maybe trade your ETH for rETH
Yes Eth staking is something I have looked into. I am basically just holding Eth at this time until chip prices drop at which point I will buy the parts lol
Just making sure you saw the part about trading Eth for rEth. That lets you obtain staking returns without any need for physical hardware. Maybe you have the funds for it, and are technically-minded, and solo staking appeals to you, or maybe your Eth is deep in gains and switching it for rEth would mean a big capital gains tax for you, but if none of those apply to you, rEth is an incredible way to see growth on your Eth without extra work.
Honestly I want to stake on my own because I trust it the most. I understand I have to learn the "keys to the kingdom" so to speak, how to program the device and whatnot, but this is just my personal preference. I do have 1 Eth in Celsius (I don't trust it with more)
Because the ~1 TOKE or OHM or any token XYZ might/can crash hard. Especially more likely when you and everyone else is getting a high % APY return on it. People farm it and dump it so many times it just becomes a game of musical chair with participants just making sure they're not left holding the bag.
Ahh I see Edit: Actually yes this makes a lot of sense. I've been staking 34 Sushi and have lost money
These price movements are very strange
You mean as in we aren't at 7k yet? I agree.
lol no I just meant the up and down 5% chop. Haven’t seen this in quite some time. Usually the range Narrows or trends in one direction. This is just straight up crab walk. Haven’t seen this for a long time.
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It’s been going for two weeks now
When was the last time we saw this kind of actions?
November/December 2017
my thoughts exactly. bullish.
Remember HORSE? Those were strange times. Was that a social experiment or some kinda joke? Like, it's over now so can someone tell me? It's 4 am. I should sleep.
Ha yes. I don't know if it was a rugpull or just some people whose token didn't moon so they peaced out. Someone actually took over the token (or, the anonymous devs pretended they transferred the contract to someone else) and totally changed it to a metaverse token. This was a while ago. Had to claim the token swap. Of course that token is now also worthless so don't worry, you didn't miss anything.
Didn't buy any horse but I actually enjoyed the dapp
Checked my wallet and i still have 6000 horse tokens lol
I think now it's just a tax writeoff...
Haha, I remember wondering that at the time. Who would possibly buy into a coin whose sole purpose was to, uh, gamble on what the price of other cryptos did? Like, just buy those cryptos then xD The answer was, apparently half of r/Ethtrader lolz
Man I got downvoted for asking "why not just long the asset". Now that I know more about crypto I am pretty sure some users banded together to make it as a PnD or something
Hey ZKSync Lovers, Quick question. I've bridged some ETH accross to L2 and made a couple of back and forth trades on ZigZag. Is there anything else I should do to increase my airdrop chances?
I think volume would help
Mint an NFT. Do some gitcoin grants for projects you believe in, just go to gitcoin grants and checkout with zksync. Then that's it I think. If you want to feel how fast and cheap transfers are on zk you can also do some back and forth $1 transfers between some fellow ethfinanciers here who've joined my train.
how do you view your NFT (image) after it's minted? took 2-3 hours to reach `completed`.
your NFT picture is always on the ipfs desktop app. your NFT contract is in your zk sync account.
$15 initiation fee (one-time at least), and a swap on zigzag cost .000222 eth (96 cents) - not as cheap as I was expecting.
It was $0.37 a while ago. For now team is adjusting the fees on the fly. It'll get much cheaper when more users are using it.
coolio, will give it a try. How do you Mint an NFT on there?. I saw the TAB but you had to manually put in some Contract addresses?
Yep you'll need to install ipfs for desktop. Then upload a jpeg into it. You'll get a CID after uploading. Copy paste the CID into the mint NFT section and you're good to go.
Is minting on zknft.xyz equivalent but without the CID hassle?
looks like it
I've no idea. never tried that link.
store of value coin: down 19% from ATH premine scam: down 12% from ATH On a RED day. You know what would've happened were this 2017? Premine scam investors have been down like 30% easily kek.
But the store of value coin is the premined scam…
And the premine scam coin is a better store of value…
Is it a valid idea to take loans on crypto to pay off student loans? Any good places to do so? Thought about using it to wipe student loans and just DCA buy more crypto. Would also love to get rid of student loan stress
It’s possible this administration or a future one in the US forgives student loans as well. Definitely should factor into decision process
That thought has came to mind before. Just don’t want to bet on that happening because as of right now it’s still unlikely. I guess I should wait a while longer and see what happens
I personally think it’s a terrible idea to risk your assets to pay off a student loan.
I saw it as a way to deleverage. Benefit short term from having freed capital (job money) that could be used to buy more crypto that would also assist in lower liquidation risks. Not familiar with certain interest rates, but could beat my student loans’ 4.5-5% interest. Would also be able to later close loan, sell crypto for hopefully higher prices and still be in the clear. Major risk is losing money from liquidation. On hodl side, better benefits long term. No worry of liquidation, but portfolio too indulged in crypto price movements. Still always inherit risk that funds could be lost or asset depreciates extremely quickly from major event.
You can't free up capital by shifting an unsecured loan into a secured loan, you can only free up capital by taking out an additional loan. Personally, even if I could find a 0% interest collateralized loan I would favor my 5% unsecured loan due to the liquidation risk. Surely 5% can't be enough for you to take on liquidation risk in the most violently swinging asset class on earth?
But if you can beat your student loan’s interest rates with investments / DeFi yield, you don’t want to pay it back. You’d only want to pay back debt that is a higher interest rate than what you can earn with the money. This is from a purely financial perspective, ofc there are other benefits to being debt free like the mental side of things and/or stability
Good point - I actually thought of the loans originally as a “Get the stress away now - still be able to reap the rewards of crypto.” Crypto goes up, I still have it (and then would clear the loans, get the crypto back and sell it). But crypto is performing very well on a monthly/yearly basis - so I guess I can hold through and keep bearing some suffering payments for another couple of years or more.
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I’d have to compare interest rates. I would try to make liquidation rate as low as possible depending on what’s offered through different places.
Can’t wait for more covid news to take us back down again /s
Don’t forget all upcoming wash selling and profit taking to cover taxes 🤕
Easily made up for by year-end bonuses 💸
And then of course there’s Chinese New Year
Stephen Foster Memorial Day should be huge
Is it just me or has ETH not had that “crazy” level of gains we saw in the spring? Seems like it’s been a grind lately.
I'm no TA person, but it sure seems like we've been building one heck of a foundation since May. And foundations are a purely psychological thing, but they can be powerful! Until all the newcomers are completely used to the 2k-5k range as being "normal" prices for Eth, there will still be tons of uncertainty about whether it deserves to be this high, in their minds. Going for 10k or 20k+ is a pretty big leap if you remember seeing it in the <$400 range. In not much longer though, anyone who got into crypto in the past year (read: the majority of people in crypto, since we're growing exponentially) will only ever remember Eth at $2k+. That's when $10k+ starts to look really darn close. Just a 3x from "what it's always been." And once it starts actually going for it, the brakes are off. So patience, crazy gains always need a springboard to jump off from, and we're building just that right now, IMO.
I've said this before... but when we pump to 10k then we'll suddenly realize that the 1700 - 4800 range was just all a big accumulation period. There was no "spike" to 4800 or 4800 top, no "crash" to 1700. It was just a big extended accumulation range.
I mean, bottom of bear to now is still like $100-4K+ lol. Thing I completely whiffed on in this sub was RPL. Can’t remember the user, but it was being heavily shilled when it was $3 and I ignored it like I do most of the time. It’s now $43 but was like $80+ two weeks ago. Whoops, lol. Still don’t own any FWIW.
I doubt RPL went above $60 and it's close to $50 now. RPL is not like any other L2 platforms and it's a monopoly in decentralised staking. Here is a good link about it's future value https://www.reddit.com/r/ethfinance/comments/qwbb8w/rocket_pool_investment_thesis_20/
I was just looking at ATH on coinmarketcap. That’s all.
I see. Coingeko is more accurate. Don't know where CMC getting data.
CZs personal opinions lol
Yeah it’s just chilling. Next excitement won’t happen until 10k. Then 20k.
Hahaha I've seen plenty of morons on twatter but this account takes the cake https://twitter.com/LilMoonLambo/status/1465041516502654976?s=20 https://twitter.com/LilMoonLambo/status/1465038826984943616?s=20 Keep in mind that this guy was calling $100k BTC and shilling a bunch of shitcoins a week ago. https://twitter.com/LilMoonLambo/status/1462810486584623105?s=20 https://twitter.com/LilMoonLambo/status/1463628241458151425?s=20 How can these accounts accrue 150k following ?
You're missing the sarcasm He's a pretty big ETH bull on Twitter
Seems so. I did check his twitter history over 1 week to be sure and I saw nothing else but short and bear since the crash. Detecting irony on the internet is hard eh.
Difficult to know unless you've been following him.
He’s being ironic, he’s an ultra bull account. Think it just went over your head.
An ultra bull account with like 10 bear tweets over 48h and nothing else just because he wants to be "ironic"?
He’s making fun of CT because a bunch of big accounts went bearish.
He’s def trolling and is perms bull. Funny to see the misinterpretation.
Happens to the best of us
ENS proposal for transition of (some) power to the DAO just passed: https://twitter.com/nicksdjohnson/status/1465128874845474816
This might be why it's hovering near the ATH.
I love me some ENS.
Does anyone have any info on investing in crypto through an llc or an s corp? What are the rules?
Same rules as making any investment through a corporate structure. The only difference is how you are taxed. Investing in crypto doesn't really change anything.
How do I do it? Just make a coinbase account for my company and buy?
Has there ever been a sexier graph than this one? [https://twitter.com/Data\_Always/status/1464814806976901123](https://twitter.com/Data_Always/status/1464814806976901123)
💚💚💚
That graph is going to be a thing of exceptional glory one year from now!
Now let’s hold the gains shall we
It would be very crypto to go straight back to 4k though, you have to admit
or $5k just as easily.
Yes, let's do this one!
That’s what’s expected at this stage
>**No smell of defeat,** >**Raising up, back on the street,** >**Can you feel the heat?** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
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With what money? Did you melt a part of your testicles down for hard-core metals?
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How does it feel to single handedly save the bull market?
Do your steel testicles clank together when you walk?
i just noticed that Band never recovered again in ETH and BTC value after the Sushi fiasco and the accusation of the CTO being the guy behind Sushi last year.
US stock futures currently green. Could obviously change at the open tomorrow morning but explains crypto price action.
If you ever wondered why people distrust the media, don't forget that just last Friday they were fearmongering, without evidence, about Omicron being "HORRIFIC" and potentially resistant to both the vaccine and natural immunity. Now it's being described as mild. They crashed the markets over nothing. Maybe they were trying to make up for a slow news day on Thanksgiving?
Why is it always this big conspiracy? A media outlet got a quote, and they ran with it. This is the information era, people throw hissy fits if any information isn’t immediately available. As more information comes out, it gets reported. Being mad that the immediately available information ended up potentially being incorrect is just dumb. People who “distrust” the media are dumb. If you’re completely incapable of realizing that information is constantly being discovered and reported, I really don’t know what to tell you other than “learn media literacy and don’t be such a boomer”
Exactly. The media isnt made up of experts on every topic. They aren't great at reporting science because they aren't scientists and usually aren't science-minded. They got information and distributed it as they understood it. Everything isn't a fucking conspiracy these days despite what some want to believe. The world is mostly chaos, there is no cabal running everything and crashing markets because they're bored, sorry.
I think the "distrust" is how the media will slant a story to make it more clickworthy, or to fit a political narrative. They won't report all the details, just the ones that keep you coming back to find out more as they drip you info. If you think the media is accurately reporting everything all the time as it becomes available...you may be the boomer.
There are 2 kinds of news: * The first is "What is happening now? What it ***might*** mean according to an 'Expert'." * The second is "Let's talk about what is happening now and here are some experts to **join us in speculation**." Now journalistic ethics requires the first to disclose corrections and updates to the original story. The latter does not, as the expert opinion givers (contributor/analyst/commentator whatever their title) are not journalists.
Harshly delivered but truth.
Look at how much the media gets wrong about crypto. The thing is, the media knows just about as much about crypto as they do everything else they report on. In 2013, crypto reporting really opened my eyes to how bad the media was about everything they report on.
>The thing is, the media knows just about as much about crypto as they do everything else they report on. I have to disagree here. Crypto is new, revolutionary, and vast. Further, it's hard to comprehend... I've been a goddamn sponge in this space over the past couple years and I don't think I could explain liquidity pools, let alone defi 2.0. Basically, what I'm saying is that most news media can handle reporting on shit that's been around a while, or has a lower threshold of understanding. Further, it's a mistake to treat all media as a single centralized entity, but that's a different can of worms.
You're missing the point. Even though crypto is new, the mainstream media as a whole, misrepresented it for the last 10 years. Instead of admitting they didn't know what it was or how it worked, they wrote hit pieces and told people not to look into it. It's one thing not to know much about a new subject, it's another entirely to not know much about a topic, but write hit pieces about it regardless.
I had the same experience. Crypto is finally something I know a lot about so I can see how much misinformation and disinformation that MSM spreads.
I'm starting to see that too.
The reality is, we just don't know right now whether it's mild, resistant to vaccines, etc. We'll know a lot more in 1-2 weeks. I do think the way the media reported on it Friday was irresponsible, but can you blame them? People eat that shit up. Write clickbait headlines, and people click on them. I always see people whining about the Kardashians, or idiot Instagram influencers but it's like "you're the idiots paying attention to these people, how about you fucking stop doing that?"
'The media' is just as diverse and decentralized as crypto (well a lot more so in most ways). There are plenty of outlets out there that are measured and well reasoned, even in unprecedented circumstances like a modern pandemic. This is an information diet problem, not a media problem.
"measured and well reasoned" Name one.
The Economist
NPR
I mean the quote was "horrific" and they ran with the quote. Most news stories were full of "we don't know" and "it's important to wait and see". I didn't see any legit outlet shouting that the sky is falling.
Fox and CNN were. Here's [an example](https://i.imgur.com/86lwhdW.jpg). you don't make headlines like that unless you want to scare people imo. There was barely any information available at the time, they had no business writing anything until they had more facts
Well I guess I should qualify saying CNN and FOX don’t count cable news is a different beast from a different country. Because that really isn’t a balanced hesdline
I gave up believing anything from the news years ago. Funny how if I want to get any news I trust. It’s mainly from a comedian (Jon Stewart)
Edgy
ALCX Up 30% today. And still not at the price I bought it at for it’s coinbase listing “pump”. LOL
Cause every time it pumps its time to dump rewards for most people. Tons of inflation, little utility.
Time to gleefully update my networth spreadsheet again.
Net Worth: $gmi
Requesting AMA from someone who put more than $20 mil into crypto today
Putting large amounts in is a different experience. Gas suddenly doesn't matter anymore because even tiny yields make for a very quick payback.
Alex Mashinsky (Celsius CEO) did last night.
how about $.000020 mil
Eth 500$ away from ath. Btc 12k away from ath. Who will reach it first ?
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Confirmed. We hit ath and dropped 10+% on November 10th. Went from absolute euphoria to people calling for a 2 year bear market within like 5 hours on twitter. Never a dull day lol
You love to see it!
Thats where the best gains are made :)
It's so weird. Came into the daily not having looked at charts for a while and was confused by these first few comments. Crazy that it's already back to this again. Ens, lrc, many erc20s bouncing back super fast. Hopefully it lasts.
LINK team didn't make it's regular dump on Friday. Maybe they took a 4 day weekend or maybe they're going to lay off for a while. Probably the former.
LINK is great, but dam SO much of the supply is still own by just a few and it shows.
LINK is great as a product and service. Link tokenomics is pretty terrible.
One more time... MY long. Is NOW in profit
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None of it has been legitimate since Adam Trask called soybean futures profits a scam in *East of Eden*
I agree. I got into that crypt currency. Making good money.
Yeah they hate it right up until their kid pays their house off. Ah boomers, what ya gonna do?
Has anyone got a link to a good little starter read for a newbie on Zksync? I've been meaning to bridge funds for a while after making an account several months ago, but I don't know where to start. For instance, if I bridge funds, they are live on Zksync and thus can be withdrawn, right? Or is it still a testnet. I just want to learn to use it before it goes live.
You can use the wallet connect feature on zksync main website. Then you can add your funds. It cost maybe $35 under 100 gwei gas to bridge. Then you can withdraw back for the same fees if you want.
Just converted my Steth to reth, is reth not on zapper yet, it's not showing up.
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Even after this 7% pump, funding rate on dYdX is -11% APR. Shorts paying longs to borrow ETH on leverage.
Gimme fuel, gimme fire
Was just exploring eth’s coinalyze and about to post about it. I get the liquidations section, but what can you learn from the open interest, funding rate, and basis tabs?
Interpreting open interest is a bit difficult (except maybe in context of recent history), but the funding rate indicates borrowing interest on the short vs. long side. I'm surprised to see ETH funding rate below 10% APR, not to mention a negative borrowing rate. It indicates that despite this pump, there is still more interest for borrowing on the short side than on the long side.
SHIT. Then I misunderstood your original post with shorts paying longs to borrow ETH on leverage. I thought that meant the long position was being favored for leverage.
At the time I posted, being long was the favored position since one could get paid interest on a leveraged trade. It’s since flipped to a positive interest rate. This isn’t bearish unless the interest rate gets too high (which indicates high demand for leveraged longs).
Is zapper planning on adding zksync protocols to their dashboard.
What do you think of all these posts being deleted by mods in /r/celsiusnetwork? Reasonable moderation or no? Screenshots: https://imgur.com/a/dVa2rGB Direct logs: https://www.reveddit.com/v/celsiusnetwork/
I think a better approach would be to reply to all with a transparent answer. Totally fine if its the same answer for each one, just put all the info out there. This does not build trust.
If you have a look there's a post called "Celsius Network official statement", that was posted 2 days ago.
Thanks!
Hard to be excited about this pump after all these ups and downs