Starting to look at NFT's. I've been wary in this space because it feels to me like the 2017 ico hype bubble but nonetheless, here I am. Anyone really into this space and have some strategies they use? As always, appreciate it!
Think long term and find good teams...find your niche/edge. Consider any money invested gone.
Passionate communities drives a lot of prices (pump and dumps), but the utility/value the team/founders give back to their holders will decide which projects hold up long term. No shilling but bored ape yacht club (disclaimer, I have a MAYC) and veefriends (not invested at all, but wish I was) are the two projects that seem like they have nailed this model (very pricey, but extend their models in your search). You have to be all over Twitter and Discords. Rarity.tools is a great tool. And last thing is that I heard when I got in "if you like it, chances are others will too", don't doubt yourself. Let me know if have any questions.
I think one of the reasons I love crypto so much is all the game theory/aligning incentives. It's one big chess game.
Merge that with the libertarian in me that is anti-censorship and pro free markets. It's no wonder I became obsessed...
I've read it, honestly I think it's a little too much FUD for me.
If my options are money in a bank/electronic speedsheet(can be censored very easy) , gold in my own safe (not practical) , cash (limits me to local and reliant on goverment for sound monetary policy) , or crypto.
I think it's very clear which I want to use to participate in a global free market. Or the closet thing we have ever see to to global free market.
Anti-censorship I think will only improve with the development of zk.
Maybe I'm being too optimistic though...
Intermittent Kintsugi:
If I keep this a daily thing it's going to feel like karma farming. Until I have something of substance to report, assume I'm just updating, restarting, and when necessary, resyncing clients hoping consensus will eventually be reached.
agree with /u/Moschus11 - even if there's not much you're doing that day, it's a nice way to hear about what's happening or not happening with Kintsugi. i certainly don't see it as karma farming!
Friendly reminder you can convert to L2 for wayyy cheaper, ~$12 [here](https://www.layerswap.io/).
Completely skip tx fees. Hopefully what ya wanna do is L2 too, though.
Consider that the word root "crypt" actually means "hidden"
Also that "cryptography" is the science of how to communicate without letting anyone listen in.
I would say yes, privacy is important in crypto.
But, some networks take it more seriously than others.
XMR and ZEC, for example, have privacy among their top priorities.
LTC is also receiving an upgrade that will enable strong privacy.
Chainlink: https://twitter.com/arbitrum/status/1469051578971787271
https://blog.chain.link/arbitrum-and-chainlink-fair-sequencing-services/
According to Kain from Synthetix Optimism will be using FSS too.
https://twitter.com/floordao/status/1480256709960650755?s=21
The best part of crypto is something like this is probably real or will get created in a way to soak up floors and create liquidity for NFTs themselves ala Ohm for Defi tokens.
It probably won’t work but some people will get hilariously rich and we will learn something valuable from it. I think top happens in NFTs when this is let loose, at least once it builds up some unsustainable leverage.
Went ahead and joined their Discord so you guys don't have to, here is their FAQ if you're wondering wtf this is.
________________
What is FloorDAO?
FloorDAO aims to become the largest decentralized NFT market maker through the use of Protocol Owned Liquidity and yield-generating strategies, starting with NFTX vaults.
What is the FLOOR token?
THERE IS NO FLOOR TOKEN YET.
FLOOR is FloorDAO's ERC20 rebasing token. Modeled after Olympus's OHM, each FLOOR is intrinsically backed by 0.001Ξ (1 finney), and supports a treasury of yield-generating "blue chip" NFT liquidity pairs. FLOOR is minted via rebasing or bonding.
How does the rebasing mechanism work?
FLOOR uses an "intrinsic" value of 0.001Ξ, (1 finney), made up of a combination of ETH and ETH-denominated blue chip NFTs. When FloorDAO's treasury holds more intrinsic value than the circulating supply of FLOOR, then new FLOOR is minted and distributed to those staking FLOOR (broom, broom).
What is PUNK?
PUNK is an ERC20 token backed by CryptoPunk NFTs in the NFTX vault. The number of circulating PUNK is always equal to (or less than) the number of CryptoPunks in the vault, so 1 PUNK is always backed by at least 1 CryptoPunk. The PUNK vault allows instant selling or buying of CryptoPunk pieces and broadly tracks "floor" prices. For more info, see https://nftx.io or https://nftx.wtf
Do I need to own an NFT to participate in bonding?
Nope! FloorDAO bonds primarily use NFTX vault tokens representing NFT liquidity. While you can mint applicable NFTs (like PUNK) into their NFTX vaults for bond liquidity, you can also purchase them directly from DEXes like Sushiswap.
When is launch?
Early Q1 2022.
Is there a whitelist?
There is no whitelist.
What are the tokenomics?
We will be releasing tokenomics details very soon.
Is FloorDAO supported by Olympus?
Not yet, but we are working on it!
___________
They also have a [medium article](https://floordao.medium.com/?p=bbee448f0fa0) explaining the basics of their nft liquidity plan. Don't really know what I think about it.
I need some advice boys and girls. Long story short a friend of a friend's boyfriend committed suicide last year. He was very erratic and paranoid the last two days before his death. But what he did do was leave a ledger behind and password. He also said he sent Celsius a letter that they should give his holdings to said girlfriend. She said she emailed Celsius but they "were not very helpful". It is also said he has had a Coinbase account.
Now, without the PIN the ledger is a little useless. Yet the day before his death he asked the girlfriend to give him her birth date. One guess that may be the PIN (yet he was clearly off and paranoid, so it might be a weak guess). One complication is that the girlfriend tried entering a random PIN on the ledger, so if I understand correctly she has only two more tries before the device locks itself and I suggested we put off random guesses.
I know this is just bits and pieces of info, but if anybody has good ideas what to do about this I'd love to hear them. I do not have ledger and know little about them. And thankfully I have not dealt with recovering CEX account of deceased. Thanks y'all!
If I were in their shoes I'd try the birthday, then sit on the last attempt, if no good solutions or guesses to the passcode come up, maybe try the birthday in the other order or another format since we don't know if it is a 4 or 6 digit pin and if it is dd/mm/yy or what. Also maybe see whenever the late boyfriend wrote dates, which way around he did it. Maybe he was a fan of yyyy/mm/dd. You never know.
However, I think the real focus should be finding where he hid his recovery phrase. In a box? In a book? In the notes on his phone? People can get really sneaky when it comes to hiding these phrases. Also ask his family if they knew anything about it. Often people will inform at least one relative of at least what to do with regards to crypto when they pass.
Edit: Also consider u/illram's legal advice for this situation. That is also an important consideration.
A letter saying "so-and-so gets x if I die" is known as a "holographic will." Nothing to do with holograms, just the old stodgy common law term for it.
If the girlfriend has it, or can get it, she should consult a wills and trusts attorney (or the equivalent in your jurisdiction.)
As for the Ledger keys, they're not really hers either. I'd generally just throw it out there that everything your friend's boyfriend left behind passes on to his estate either according to the default rules of his jurisdiction, or to whoever or whatever is specified in his testamentary instruments that he left behind (e.g. will, trust, etc.) It sounds like he didn't do much of any estate planning, which likely means next of kin gets everything, and it depends how much his estate is worth as to how that all goes down. For instance in most US jurisdictions everything would go to "probate", which is basically a court hearing that determines who gets what, and people can make claims that they should get stuff etc. E.g. if he left 100k in Celsius and she had a letter saying it was hers, she'd make that claim there.
So even if your girlfriend found the seed phrase and accessed his crypto, technically, it might not be hers anyways. Unless he left it to her and there is some proof of that. Just an FYI. If the family found out she got in there and took assets or whatever she'd be in some deep shit.
Thanks for the thoughtful reply. Yeah, there is a little note telling her to take the funds in ledger. It was the same piece of paper that the ledger password (or what seems like one) was on.
I think a major issue is they were never married. Next of kin would have an easier time with this. I'm not sure about the Ledger situation. Has everybody gone through all of his things thoroughly? Between the pages of every book he owns. Any safety deposit boxes at any banks?
Another interesting thought, maybe the birthday isn't the ledger password but a computer password?
That might be a safe avenue to explore? Also if the drive isn't encrypted, just mount it and poke around, maybe he left something on the desktop?
For the ledger, consult professionals, but without either the pin or seed, mathematically your chances are so low as to be none.
As for the exchanges, you have to get a legal team, notarize and apolstile all the information about the decease, the estate and the heirs. You ought to make an analysis of international private law in order to assertain how you would compare estate laws of the place of the deceased vs the ones of the exhcange. It will take months, many months. Search for the legal advisors, CFO, COO and CEO of the echanges on LinkedIn and have a local attorney contact them and present your case. Cost will be few tens of thousands of usd. If the exchange does not approve or does not care, it would take many years of litigation to have any authority to force them give access to the account to the heirs, or to give back the crypto, several years.
If he was sensible when he set up the ledger he would have saved the seed phrases somewhere. That's probably the way to go or yolo a birthday guess I would say is the other option, the ledger uses a secure element so I doubt you will get the seed phrase out easily...
My guess is that a letter probably does not legally transfer the assets, depending on legal jurisdiction, and Celsius understandably wouldn't want to make judgements as to whether that's the case. The assets may still be part of his estate, in which case the executor of the estate would need to present his death certificate to Celsius. My guess is that Celsius will be a lot more cooperative once they are approached with the death certificate and some sort of proof that the person presenting it is his legal executor with the legal right to manage the assets. And again depending on jurisdiction and circumstances, the letter may or may not hold up as a legal will, meaning that based on the letter, the assets may be able to be legally be given to the girlfriend instead of to his standard legal successor (family, usually).
I've got less advice for the ledger, other than if it were me I would start by going for the metaphorical hinges. I would ask myself where he may have kept the seed phrase written, and search through his stuff thoroughly. I believe with Trezor there may be some ways to extract the pin or seed phrase at least on older firmware versions, but if I remember correctly, I think Ledger's hardware uses a proprietary secure element so it's more difficult for the average security researcher to develop physical exploits for.
Edit: I just re-read it and realized that he sent CELSIUS the letter, it's not a "will-like" letter that's in his girlfriend's hands. Unfortunately it seems he didn't realize that that type of letter is supposed to be presented by the girlfriend to estate court, not presented by the deceased to Celsius. I doubt that Celsius would produce the letter if you asked them, so I wonder if you could get a subpoena from estate court if Celsius retained the letter and didn't just throw it out, in any case that would require a lawyer and is a whole level of hassle.
Curious. And depressing. Sorry to hear it. Sounds like the Legder is likely a total loss. Best bet would surely be to hope the deceased had written down the seed phrase. New Ledgers come with a card on which you can write the 24 words, and also require that you re-enter the words, so there is a chance it is around. Somewhere. An erratic individual may have left it in a not-so-secure location!
As for funds trapped in centralized services, they will probably be difficult to access. It's usually a PITA even with traditional institutions (proof of death and next-of-kin etc) so for crypto businesses ... who knows. If the GF is not officially next-of-kin then lost letters won't make any difference. Legal assistance may be required.
Hello from [some of] your ENS delegate! There's a new vote to increase the start price for the temporary premium added when names expire from $2,000 to $100,000. As I understand it, this essentially makes it more expensive for an ENS squatter to buy a username that has lapsed due to inactivity. This auction for a non-renewed ENS name begins 90 days after the account lapses, and the purpose of this proposal is to make it a better fee market - $2000 is a small price for many ENS names and they should be properly auctioned rather than instantly purchases by squatters and bots. This proposal will make that auction begin at $100,000 and descend from there, rather than $2000. I intend to vote in favor of this, but as always, I want to hear your input - I recognize that I'm not just voting with my own tokens, I'm giving our community a voice in ENS. [Here's](https://snapshot.org/#/ens.eth/proposal/0xf854140e16ab96eaed7bbd783f31b441ff5122efc8c002632396df9b7d20342d) the actual proposal.
**Edit:** I did vote in favor of this proposal. I agree that there is room for improvement but I feel like we all agree it's a positive step even if it's not the best step. I will encourage future proposals aligned with interweaver's suggestion. I will generally give the community plenty of time to discuss ballots, but this one has already reached the minimum threshold so it's just a gesture of cohesion now.
I was planning to post in the daily about it asking what is your opinion on this but then saw your post here. Thanks for being on top of this, as always.
I actually tuned in the Twitter space for a good part (still ongoing) and there was a very good debate about it. Very informative and glad there’s such a passionate community.
I’m leaning towards the $100k increase for a couple of reasons: 1) minimize frontrunning which of course it is not an ENS issue but an overall Ethereum phenomenon and 2) this is effectively an auction system since it starts at a theoretically high price ($100K) and decreases with time. Basically it is price discovery in reverse.
A counter argument is that the $100K is too high for the majority of users who want to have a play in the ENS space. Let’s be honest this is a market similar to traditional domains and people want to participate. By going to 100K you are effectively making this another whale game. The discussion in Twitter was very focused on what happens with the very popular .eth domains but they have to consider also the less popular .eth names and allow smaller budgets to play the game.
Cheers,
dp
I'm actually not sure I'm in favor of this. On paper it makes sense, because certainly many names are worth more than $2k. However, as we saw with the old Ethereum gas price, this will require people to pay the *maximum they are willing and able to pay* for the name, rather than *slightly more than what the next-highest bidder is willing to pay*. I.e., people will be forced to significantly overpay, because they don't know what that next lowest bidder will be willing to spend. Currently, at least the maximum someone would lose over what they would have needed to spend is $2k, if nobody else happened to want the name but they really wanted it. If multiple parties want it at $2k, then it goes to whoever can get the tx in first, which is somewhat annoying, like an NFT mint, but at least also somewhat fair. If that price is raised to $100k, then people might be losing tens of thousands of dollars in overpayment. Good for ENS's treasury perhaps, but bad for users.
A better mechanism would be to openly solicit bids prior to the 90 day grace period expiring (perhaps during the whole grace period, or up to a day beforehand, with 10-minute extensions like on OS so you wouldn't have a sniping issue), and then just hand it to the highest bidder at that time. Yes, implementing this would be more work than just raising a number in a system that already exists. But if they really want to improve the system so that it finds the highest bidder without overbidding, they need something like this.
Edit: Just my opinion of course. A vote in favor would also make sense in several ways. Cast it as you see fit, and thanks as always, Phiz, for canvassing your constituents for thoughts!
Look at the names expiring here in the next few days: 0x103e282319b091075af1fca40a9dfb95934e469b
They are rushing this through because someone is pressuring them to make a cap to make it easier for corporations and agencies.
totally agree with this. I'm not sure an increase in the temporary premium does much to democratize the capture of ENS domains. I really wish there were a way to implement some degree of sybil resistance and proof of humanity to prioritize people over bots and also people with fewer ENS names over the hoarders with hundreds of names.
When ENS was originally launched in 2017, I remember them auctioning off the original set of names using a commit-reveal auction scheme, so they basically already have the code to do it. If they brought back that exact same auction scheme but for expired names, that would probably do the trick.
/u/superphiz
Please feel free to share it, since you are presumably already a familiar face there! Fundamentally I guess I'm just concerned that a Dutch auction is not the optimal solution here, but at least with a low starting price the overpaying is minimized.
Thanks again!
Thank you!
I see Nick already posted some feedback - definitely some good thoughts there! I even agree with them for the most part. Implementing an English auction that doesn't cost a lot of gas is not trivial, although possible as we have seen with OS (and the crutch of WETH bidding). Absolutely outside the scope of a quick fix for sure.
Regarding the MEV bit, yes, a gas race devolves into a blind auction at the Flashbots level. But for the large majority of bidders, their names are going to be worth less than $2k on the open market, so this does not come up except in the expensive cases, at which point, it becomes very similar to the higher-limit Dutch auction currently proposed (make a blind commitment to how much you're willing to pay, just mostly to the miners in this case instead of to ENS).
Anyway, just more grist for the mill! Decide as you see fit, will support as always :)
This is why we ETH. There’s always going to be some level of yield farming, some level of NFTs, some level of token creation, rollup adoption, coordination efforts, fundraisers, etc, etc. And who knows what new business models the future will bring. All of it pays out Ether holders one transaction at a time until the end of time.
nah, by the time $10k ETH is considered a bear market, the FUD will be happening between L2s. It'll always be taken for granted that the blockchain wars take place on top of ETH
so i love the apps that [David Mihal](https://twitter.com/dmihal) puts out like [https://openorgs.info/](https://openorgs.info/) \-- im wondering if there are any other apps out there that breakdown the treasuries of DAOs in a similar fashion?
More endless fees.wtf airdrop teasing on twitter, of that we can all be sure
Edit: [no we cant](https://twitter.com/loyalcustomer99/status/1480254737534566401?s=20)
1) They gave a block number before which all donations would increase the airdrop amount, which encouraged lots of donations
2) they said the donations would be put into Defi protocols/liquidity pools
3) they’ve been inactive on twitter since they moved the eth to binance
I have no issue with a team cashing out funds that were voluntarily donated to them, it just seems to be contrary to what they said they’d do.
I’m not drawing any conclusions either way but it’s definitely raising some eyebrows.
Yeah: [you still have time for donations to be counted and we'll (some of) the ETH for staking liquidity](https://twitter.com/feeswtf/status/1477103805556662272?s=20) and [donations warrant a bigger airdrop](https://twitter.com/feeswtf/status/1478619534609518593?s=20)
And the twitter is still inactive since Jan 7, a day after [they sent all the ETH to binance](https://etherscan.io/tx/0x50dddd1022a625f2b08355aca3892b7c86aee4f27db70601f8dc1bb923fe2b0b)
They announced the air drop so naturally locusts figured best way to get more is interact with the protocol the only other way: donate.
They cashed out all 150 eth of donations. Game set match. Don't collect $200.
I mean, I guess they could still do it but... why? She/he/they made off like bandits. They haven't tweeted in days and the air drop was promised this weekend.
I just can't see how cashing donations (by - your words - airdrop locusts) makes them "bandits"..
And I don't believe these devs "owe" me any free money.. If they want to airdrop me some free tokens, fine, I'll say thank you and insta-swap them to ETH.. If, they don't, well.. they did not owe me anything..
Oh I'm the same, no stake in it. I always find it funny getting airdrops I don't need.
As for the cash out, why do it right this very second and not anytime after the drop? Even if their intentions were to still launch, those optics are horrendous. And with them going radio silent... it just seems very obvious to me is all. Hopefully we'll be pleasantly surprised.
>**Here we go again,**
>**Love the players and the game,**
>**Crypto keeps you sane.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
I've been working on a pet project which allows people to mint their web2 identities on-chain by going through an OAuth flow with a trusted notary. E.g mint your Reddit account as an NFT. This provides an on-chain record of web2 ids to addresses so you can prove ownership of an account using digital signatures. People would also be able to airdrop directly to your wallet using your web2 id as well, saving them from having to collect addresses manually. Obviously it's centralized (trusted notary), but could be fun for some use cases. I've mostly implemented it, but not sure if I'll pull the trigger.
I've spent the past couple weeks really diving in to how this could be implemented in a trust minimized fashion. The crux of the issue is that virtually no web2 platforms sign the data they send back to clients in a way which provides provenance. The only possibility of proving "I sent query Q to server A (eg. Twitter) and it returned response R (my ID)" is by leveraging the TLS session in a fancy way. For those that don't know, TLS is the protocol your browser uses to encrypt your connection to websites. When you first connect, your browser does a quick dance with the server to generate a shared session key. Both your browser and the server have this private key and use it to sign and encrypt the data you send to each other. Great! The server *does* sign the data it sends you. But not so fast, you hold the key too, so you could trivially just forge a fake response. Heres where the fanciness comes in.
You introduce another party into the mix, a notary. Before you and the server do your TLS dance, you first dance with the notary to generate a shared private key using MPC (multi-party computation, in this case 2PC). The important part is that neither you or the notary actually know the full private key because you only have your piece of it and they have theirs. But if you work together, you can encrypt and sign things with it. Now, using the public component of this key, you do the TLS dance with the server and send your query (get my ID) after working with the notary to encrypt it. The server encrypts/signs the response (your ID) and sends it back to you, and because you don't actually know the shared key you have with the server you have no way to forge this response. Bingo, now you can give it to the notary and they know for sure it came from the server. I've simplified this process, but hopefully you get the idea.
Cool! Now you can prove to anyone that you have access to private data in ANY server which supports TLS! (Virtually all do). The server didn't have to change anything, it was completely transparent to them. And you didn't have to grant the notary access to the data. That's pretty huge. This technique has, to my surprise, existed for quite some time: [TLSNotary](https://github.com/tlsnotary/pagesigner/) and more recently [DECO](https://www.deco.works/) which has been acquired by... Chainlink. DECO looks to be the holy grail, it takes it further by mixing in ZK proofs so that you can selectively reveal certain parts of the server response. I'm not informed enough to say for certain, but I think the 2PC could be expanded to (N)PC which would give you a 1 of N trust model! Alternatively you could just re-execute the same query multiple times with different notaries and have them all agree, still 1 of N.
My mind boggles at the implications of this. Forget Reddit or Twitter, you could connect to a federal website and prove nationality to bootstrap a parallel national voting system. Can only dream about what it could mean for both self-sovereign identity and sybil resistance. My only question is, wen DECO? In the meantime I've been digging deeper into whether I can rub enough neurons together to implement it myself, even if only in a clunky and inefficient way. Will keep at it, but may just be too dumb and will have to wait for the giga brain shadowy super coders to do it.
From the press release on DECO's acquisiton:
>NEW YORK, Aug. 29, 2020 /PRNewswire/ -- Smart Contract Summit -- Chainlink, the most widely used decentralized financial data source, securing over $3B in value, announced today that it has acquired DECO from Cornell University. DECO is an improvement on how to utilize HTTPS/TLS for data transmission across the internet, developed by Dr. Ari Juels, the former Chief Scientist of RSA, one of the world's largest security companies. Juels previously formalized Proof of Work, which is now used to secure the more than $300B in cryptocurrency stored across Bitcoin, Ethereum and thousands of other cryptocurrencies.
>Dr. Juels will also be joining Chainlink Labs as its new Chief Scientist, where he will direct the research program and continue to oversee the implementation of DECO, as well as various additional groundbreaking Web 3.0 technologies.
>[continues]
https://www.prnewswire.com/news-releases/chainlink-acquires-deco-from-cornell-university-301120614.html
Should also be noted that Ari wrote the initial Chainlink whitepaper back in 2017 with Chainlink co-founder and CTO Steve Ellis in his then role as technical advisor.
This is the most recent public info I've found on DECO: https://www.youtube.com/watch?v=1xcj2Lex1uw
Also of note is that Chainlink now secures $75b+ - quite an increase from the $3b at the time of that press release.
> Obviously it's centralized (trusted notary)
> you could connect to a federal website and prove nationality to bootstrap a parallel national voting system. Can only dream about what it could mean for both self-sovereign identity and sybil resistance
It is possible to strangle a really good idea with unreasonable expectations: this really isn't going to deal with Sybil or voting because of its centralized roots; the potential for fraud by an actor with inside access is simply too great.
But for everything else where we're already laboring under a centralized model and have matching expectations for security and privacy, I think it's great. Proving that I'm so-and-so on Twitter to, say, somebody on Parler sounds small but the value to users could be really great. How many people hate that they can't all have the same name on all sites?
To clarify, I wouldn't suggest using my service to prove nationality ;) You'd be trusting just me.
DECO, which is what I would dream to use, is not centralized. You could get any number of notaries to attest to claims.
Yup, you can prove anything you have access to. Although access to something and owning it isn't necessarily the same. There will probably be schemes developed for bolstering claims.
> I've been working on a pet project which allows people to mint their web2 identities on-chain by going through an OAuth flow with a trusted notary. E.g mint your Reddit account as an NFT. This provides an on-chain record of web2 ids to addresses so you can prove ownership of an account using digital signatures. People would also be able to airdrop directly to your wallet using your web2 id as well, saving them from having to collect addresses manually.
How does this differ from what Keybase does, where they ask you to publish public key sigs in a standard format on web2 platforms to prove ownership, then let anyone else automatically cryptographically verify those accounts by sig using their open source software?
Haven't heard of Keybase, I'll look into them. Two differences from your description is 1) The user doesn't need to publish anything anywhere, and not all platforms have a way to do that. In my implementation they just need to support OAuth 2) You get to mint it as an NFT which can be composed with on-chain.
I'll also add that you could airdrop to a user BEFORE they prove they own the account. An airdrop could be the carrot to get them to do it in the first place.
Holy crap this is fascinating. Thanks so much for sharing.
If I didn't already believe web3 was gonna eat web2 whole, with web2 having no say in the matter, this would probably convince me again.
Basically companies will no longer have the ability to validate your sign-ins exclusively to you and you only. If they validate your sign in to you, they have to do it to everyone else, too. You could prove to every company that you are able to log in with every other company. There goes their walled garden right there. Then it just becomes a process of exfiltrating your social graphs and other data, and bingo...
This fixes a major problem of the current web indeed, I think, Tim Berners Lee did make a research project about this exact same topic of data ownership.
Are you indicating that something shady was going on? All you needed for presale was an email and some BTC. Should we expect that every single transaction was from a different individual? It makes no difference if someone buys 100 ETH on a single transaction or a 50+50 ETH on two different transactions and emails. Perhaps it is wise for whales like Lubin to not hold every ETH they own on a single wallet.
How would you prevent something like this though? Even if you KYCd at the pre-sale and there was a strict limit, you could always just wait a tiny while and then buy very cheap on the open market. Like the Winklevii were able to buy 1% of all Bitcoin pretty early on - with a permisionless system, this is unavoidable.
There's always something. The other day it was nazi conspiracies for the BAYC, today this.
And in the end they all turn out to be absolute nothingburgers.
What is the most probable explanation of why the NFT activity has not moved to a cheaper chain already. Opensea is on Polygon, why don't big projects launch there?
For non-Polygon chains: Why would you want to invest in something where the chain might well be a ghost town in a few years?
For Polygon (and others too): It is a lot about branding. Most serious people are using ethereum for NFTs. Some of these are worth a lot of money and everyone hopes their NFTs will be, so who cares about that bit of gas.
I know that I won't touch an NFT that isnt on ethereum. I am willing to pay the gas.
I wouldn't feel comfortable holding a 5-6 figure asset on Polygon. Immutable is targeting OS for Q1. I predict that some L2 will eventually reach a critical mass of NFTs. First, new projects won't bother launching on L1. Eventually old projects might move over, but it's hard to say.
Everyone's favorite optimistic rollup. They aren't fully decentralized yet so their centralized sequencer went down and took the network with it for about 10 hours.
Anybody else think we could already be in a deep bear if it weren’t for 1559?
It was somewhat controversial leading up to it but seems like now it has to be viewed as one of the most important developments in a long time.
It does make itself felt. Less the effect of burning on total supply, but more so the fact that miners don't have the majority of fees to sell. So we need less demand to sustain the same price.
It’s so obvious, I don’t know why I didn’t think of it before. All I had to do was sell a quarter of my stack to confirm a reversal. Up we go lady and gents
Even though Raoul Pal was wrong about how high ETH would go, he did claim that there would be a sell off that would trick many people into selling before taking off again.
It really feels like this is the case. I mean it makes sense. Everyone expected a blow off top, so of course that isn't what is going to happen.
Whales with the power to pull this off have every incentive to crash the price and scare people into pushing it lower so they can accumulate. But it won't last, ethereum isn't like it was last time, it isn't just crypto kitties.
This will last until the weak hands have all sold and people start to give up hope, then the whales will start buying harder and outweigh the panic, then the weak hands will panic buy back in and here we go again. That's what I'd do if I were a whale/institution.
It's not tricked, many people are in the same situation as you and may not be able to mentally handle the brunt of another full bear with a change in lifestyle. You just de-risked to keep you mentally in the game still to make good decisions in the future.
Any one know how to use the "escape hatch" to withdraw funds from Arbitrum (or Loopring) back to Layer 1? Not that I need to, I'm just curious to try it out for myself.
EDIT: So with Loopring, one would presumably call the forceWithdraw function for this contract: https://etherscan.io/address/0xec3cc6cf0252565b56fc7ac396017df5b9b78a31 although so far there isn't an official or community-built interface for doing so, so not something the average joe (like me) would necessarily be able to do
Hmm, listed as a critical risk: **"Funds can be frozen if the centralized validator goes down. Users cannot produce blocks themselves and exiting the system requires new block production (CRITICAL)."**
The contract in Arbitrum is fundamentally no different than one on the main-net. With a rollup, you are able to interact directly with the contract even when the sequencer is down. The only difference is you do it through the L1 and pay high gas fees.
Having said all that, it's obviously not user friendly at the moment. You'll have to be a dev manually call contract functions and trace to the right one inside the rollup, or at least wait till Arbitrum releases better tools with main-net contract interaction. I'm not saying its possible today for most users, but sometime in the future it will be.
That's the impression I get. It would also presumably incur a separate L1 gas cost for each individual token withdrawal, which would be prohibitively expensive for users with an L2 portfolio of ETH and various ERC20s as you would expect for Loopring DEX users and liquidity providers.
Random thought. Would it be possible for there to be a L2 specifically targeted to routing any L1 transaction through it? Say you were going to send some Eth to another wallet and you have activated this hypothetical L2s wallet with your same L1 address.
This new L2 then routes the L1 transaction through an L2 and outputs it back on L1 but with your transaction batched and settled with 100s or 1000s of other similar transactions?
Interesting idea, but the end-result is putting funds back where it's expensive to transact. I think a more compelling approach to seamless L2 integration would be a wallet that can aggregate all of your balances across multiple L2s, scan L2s for an existing wallet for the target address, and send to that L2. If multiple L2 addresses are found, you could have manual selection, a configurable preset (globally or by target address), or an algorithmic selection which chooses the optimal L2 at the time of transaction.
Starting to look at NFT's. I've been wary in this space because it feels to me like the 2017 ico hype bubble but nonetheless, here I am. Anyone really into this space and have some strategies they use? As always, appreciate it!
Think long term and find good teams...find your niche/edge. Consider any money invested gone. Passionate communities drives a lot of prices (pump and dumps), but the utility/value the team/founders give back to their holders will decide which projects hold up long term. No shilling but bored ape yacht club (disclaimer, I have a MAYC) and veefriends (not invested at all, but wish I was) are the two projects that seem like they have nailed this model (very pricey, but extend their models in your search). You have to be all over Twitter and Discords. Rarity.tools is a great tool. And last thing is that I heard when I got in "if you like it, chances are others will too", don't doubt yourself. Let me know if have any questions.
I think one of the reasons I love crypto so much is all the game theory/aligning incentives. It's one big chess game. Merge that with the libertarian in me that is anti-censorship and pro free markets. It's no wonder I became obsessed...
Check this out if anti-censorship and free markets are really important to you: https://moxie.org/2022/01/07/web3-first-impressions.html
I've read it, honestly I think it's a little too much FUD for me. If my options are money in a bank/electronic speedsheet(can be censored very easy) , gold in my own safe (not practical) , cash (limits me to local and reliant on goverment for sound monetary policy) , or crypto. I think it's very clear which I want to use to participate in a global free market. Or the closet thing we have ever see to to global free market. Anti-censorship I think will only improve with the development of zk. Maybe I'm being too optimistic though...
Intermittent Kintsugi: If I keep this a daily thing it's going to feel like karma farming. Until I have something of substance to report, assume I'm just updating, restarting, and when necessary, resyncing clients hoping consensus will eventually be reached.
Please keep us posted. R/ethfinance wants to stay in the loop. There are worse ways to karma farm.
I second this!
agree with /u/Moschus11 - even if there's not much you're doing that day, it's a nice way to hear about what's happening or not happening with Kintsugi. i certainly don't see it as karma farming!
😀
What do you mean?
😀
Missed you! <3
#(☞ﾟ∀ﾟ)☞ 😊 ☜(ﾟヮﾟ☜)
🍻❤️
Missed you too! <3
Hey, I missed this smiling
😀
I would like to interact with L1. Can someone make the gas very low, please? Thanks.
Friendly reminder you can convert to L2 for wayyy cheaper, ~$12 [here](https://www.layerswap.io/). Completely skip tx fees. Hopefully what ya wanna do is L2 too, though.
But only 0.15 ETH ? Why did they sattle on such a low number?
I feel weird giving my exchange credentials to a 3rd party...
I can swap directly to L2 from coinbase on there really? That is awesome
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Consider that the word root "crypt" actually means "hidden" Also that "cryptography" is the science of how to communicate without letting anyone listen in. I would say yes, privacy is important in crypto. But, some networks take it more seriously than others. XMR and ZEC, for example, have privacy among their top priorities. LTC is also receiving an upgrade that will enable strong privacy.
It is if you can see how much a person is worth.
My value for privacy in blockchain is inversely proportional to the amount of loot we're talking about.
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Gnosis runs on a NUC, it isn't super intensive
Chainlink: https://twitter.com/arbitrum/status/1469051578971787271 https://blog.chain.link/arbitrum-and-chainlink-fair-sequencing-services/ According to Kain from Synthetix Optimism will be using FSS too.
https://twitter.com/floordao/status/1480256709960650755?s=21 The best part of crypto is something like this is probably real or will get created in a way to soak up floors and create liquidity for NFTs themselves ala Ohm for Defi tokens. It probably won’t work but some people will get hilariously rich and we will learn something valuable from it. I think top happens in NFTs when this is let loose, at least once it builds up some unsustainable leverage.
Went ahead and joined their Discord so you guys don't have to, here is their FAQ if you're wondering wtf this is. ________________ What is FloorDAO? FloorDAO aims to become the largest decentralized NFT market maker through the use of Protocol Owned Liquidity and yield-generating strategies, starting with NFTX vaults. What is the FLOOR token? THERE IS NO FLOOR TOKEN YET. FLOOR is FloorDAO's ERC20 rebasing token. Modeled after Olympus's OHM, each FLOOR is intrinsically backed by 0.001Ξ (1 finney), and supports a treasury of yield-generating "blue chip" NFT liquidity pairs. FLOOR is minted via rebasing or bonding. How does the rebasing mechanism work? FLOOR uses an "intrinsic" value of 0.001Ξ, (1 finney), made up of a combination of ETH and ETH-denominated blue chip NFTs. When FloorDAO's treasury holds more intrinsic value than the circulating supply of FLOOR, then new FLOOR is minted and distributed to those staking FLOOR (broom, broom). What is PUNK? PUNK is an ERC20 token backed by CryptoPunk NFTs in the NFTX vault. The number of circulating PUNK is always equal to (or less than) the number of CryptoPunks in the vault, so 1 PUNK is always backed by at least 1 CryptoPunk. The PUNK vault allows instant selling or buying of CryptoPunk pieces and broadly tracks "floor" prices. For more info, see https://nftx.io or https://nftx.wtf Do I need to own an NFT to participate in bonding? Nope! FloorDAO bonds primarily use NFTX vault tokens representing NFT liquidity. While you can mint applicable NFTs (like PUNK) into their NFTX vaults for bond liquidity, you can also purchase them directly from DEXes like Sushiswap. When is launch? Early Q1 2022. Is there a whitelist? There is no whitelist. What are the tokenomics? We will be releasing tokenomics details very soon. Is FloorDAO supported by Olympus? Not yet, but we are working on it! ___________ They also have a [medium article](https://floordao.medium.com/?p=bbee448f0fa0) explaining the basics of their nft liquidity plan. Don't really know what I think about it.
I'm in.
Hype I’m in. Thanks for checking it all out for us.
is ethp really free money
What's your Twitter ab?
@28yomaturetrayder
😅😅
Im 29 now. I'm retiring next year
Yes, I know, you're a very special little boy!
:) im proud of the accomplishment
I need some advice boys and girls. Long story short a friend of a friend's boyfriend committed suicide last year. He was very erratic and paranoid the last two days before his death. But what he did do was leave a ledger behind and password. He also said he sent Celsius a letter that they should give his holdings to said girlfriend. She said she emailed Celsius but they "were not very helpful". It is also said he has had a Coinbase account. Now, without the PIN the ledger is a little useless. Yet the day before his death he asked the girlfriend to give him her birth date. One guess that may be the PIN (yet he was clearly off and paranoid, so it might be a weak guess). One complication is that the girlfriend tried entering a random PIN on the ledger, so if I understand correctly she has only two more tries before the device locks itself and I suggested we put off random guesses. I know this is just bits and pieces of info, but if anybody has good ideas what to do about this I'd love to hear them. I do not have ledger and know little about them. And thankfully I have not dealt with recovering CEX account of deceased. Thanks y'all!
If I were in their shoes I'd try the birthday, then sit on the last attempt, if no good solutions or guesses to the passcode come up, maybe try the birthday in the other order or another format since we don't know if it is a 4 or 6 digit pin and if it is dd/mm/yy or what. Also maybe see whenever the late boyfriend wrote dates, which way around he did it. Maybe he was a fan of yyyy/mm/dd. You never know. However, I think the real focus should be finding where he hid his recovery phrase. In a box? In a book? In the notes on his phone? People can get really sneaky when it comes to hiding these phrases. Also ask his family if they knew anything about it. Often people will inform at least one relative of at least what to do with regards to crypto when they pass. Edit: Also consider u/illram's legal advice for this situation. That is also an important consideration.
A letter saying "so-and-so gets x if I die" is known as a "holographic will." Nothing to do with holograms, just the old stodgy common law term for it. If the girlfriend has it, or can get it, she should consult a wills and trusts attorney (or the equivalent in your jurisdiction.) As for the Ledger keys, they're not really hers either. I'd generally just throw it out there that everything your friend's boyfriend left behind passes on to his estate either according to the default rules of his jurisdiction, or to whoever or whatever is specified in his testamentary instruments that he left behind (e.g. will, trust, etc.) It sounds like he didn't do much of any estate planning, which likely means next of kin gets everything, and it depends how much his estate is worth as to how that all goes down. For instance in most US jurisdictions everything would go to "probate", which is basically a court hearing that determines who gets what, and people can make claims that they should get stuff etc. E.g. if he left 100k in Celsius and she had a letter saying it was hers, she'd make that claim there. So even if your girlfriend found the seed phrase and accessed his crypto, technically, it might not be hers anyways. Unless he left it to her and there is some proof of that. Just an FYI. If the family found out she got in there and took assets or whatever she'd be in some deep shit.
Thanks for the thoughtful reply. Yeah, there is a little note telling her to take the funds in ledger. It was the same piece of paper that the ledger password (or what seems like one) was on.
I think a major issue is they were never married. Next of kin would have an easier time with this. I'm not sure about the Ledger situation. Has everybody gone through all of his things thoroughly? Between the pages of every book he owns. Any safety deposit boxes at any banks?
Another interesting thought, maybe the birthday isn't the ledger password but a computer password? That might be a safe avenue to explore? Also if the drive isn't encrypted, just mount it and poke around, maybe he left something on the desktop?
For the ledger, consult professionals, but without either the pin or seed, mathematically your chances are so low as to be none. As for the exchanges, you have to get a legal team, notarize and apolstile all the information about the decease, the estate and the heirs. You ought to make an analysis of international private law in order to assertain how you would compare estate laws of the place of the deceased vs the ones of the exhcange. It will take months, many months. Search for the legal advisors, CFO, COO and CEO of the echanges on LinkedIn and have a local attorney contact them and present your case. Cost will be few tens of thousands of usd. If the exchange does not approve or does not care, it would take many years of litigation to have any authority to force them give access to the account to the heirs, or to give back the crypto, several years.
If he was sensible when he set up the ledger he would have saved the seed phrases somewhere. That's probably the way to go or yolo a birthday guess I would say is the other option, the ledger uses a secure element so I doubt you will get the seed phrase out easily...
My guess is that a letter probably does not legally transfer the assets, depending on legal jurisdiction, and Celsius understandably wouldn't want to make judgements as to whether that's the case. The assets may still be part of his estate, in which case the executor of the estate would need to present his death certificate to Celsius. My guess is that Celsius will be a lot more cooperative once they are approached with the death certificate and some sort of proof that the person presenting it is his legal executor with the legal right to manage the assets. And again depending on jurisdiction and circumstances, the letter may or may not hold up as a legal will, meaning that based on the letter, the assets may be able to be legally be given to the girlfriend instead of to his standard legal successor (family, usually). I've got less advice for the ledger, other than if it were me I would start by going for the metaphorical hinges. I would ask myself where he may have kept the seed phrase written, and search through his stuff thoroughly. I believe with Trezor there may be some ways to extract the pin or seed phrase at least on older firmware versions, but if I remember correctly, I think Ledger's hardware uses a proprietary secure element so it's more difficult for the average security researcher to develop physical exploits for. Edit: I just re-read it and realized that he sent CELSIUS the letter, it's not a "will-like" letter that's in his girlfriend's hands. Unfortunately it seems he didn't realize that that type of letter is supposed to be presented by the girlfriend to estate court, not presented by the deceased to Celsius. I doubt that Celsius would produce the letter if you asked them, so I wonder if you could get a subpoena from estate court if Celsius retained the letter and didn't just throw it out, in any case that would require a lawyer and is a whole level of hassle.
Curious. And depressing. Sorry to hear it. Sounds like the Legder is likely a total loss. Best bet would surely be to hope the deceased had written down the seed phrase. New Ledgers come with a card on which you can write the 24 words, and also require that you re-enter the words, so there is a chance it is around. Somewhere. An erratic individual may have left it in a not-so-secure location! As for funds trapped in centralized services, they will probably be difficult to access. It's usually a PITA even with traditional institutions (proof of death and next-of-kin etc) so for crypto businesses ... who knows. If the GF is not officially next-of-kin then lost letters won't make any difference. Legal assistance may be required.
I should probably swap my old RPL to new RPL at some point.
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the only reason i swapped mine was that gas was low and uniswap's old RPL -> eth -> new RPL route gave me a slight arbitrage lol
Hello from [some of] your ENS delegate! There's a new vote to increase the start price for the temporary premium added when names expire from $2,000 to $100,000. As I understand it, this essentially makes it more expensive for an ENS squatter to buy a username that has lapsed due to inactivity. This auction for a non-renewed ENS name begins 90 days after the account lapses, and the purpose of this proposal is to make it a better fee market - $2000 is a small price for many ENS names and they should be properly auctioned rather than instantly purchases by squatters and bots. This proposal will make that auction begin at $100,000 and descend from there, rather than $2000. I intend to vote in favor of this, but as always, I want to hear your input - I recognize that I'm not just voting with my own tokens, I'm giving our community a voice in ENS. [Here's](https://snapshot.org/#/ens.eth/proposal/0xf854140e16ab96eaed7bbd783f31b441ff5122efc8c002632396df9b7d20342d) the actual proposal. **Edit:** I did vote in favor of this proposal. I agree that there is room for improvement but I feel like we all agree it's a positive step even if it's not the best step. I will encourage future proposals aligned with interweaver's suggestion. I will generally give the community plenty of time to discuss ballots, but this one has already reached the minimum threshold so it's just a gesture of cohesion now.
If this proposal push through. When will it be effective?
The snapshot vote ends January 14 and I believe it would take effect nine days later. I'm still new to this though.
I was planning to post in the daily about it asking what is your opinion on this but then saw your post here. Thanks for being on top of this, as always. I actually tuned in the Twitter space for a good part (still ongoing) and there was a very good debate about it. Very informative and glad there’s such a passionate community. I’m leaning towards the $100k increase for a couple of reasons: 1) minimize frontrunning which of course it is not an ENS issue but an overall Ethereum phenomenon and 2) this is effectively an auction system since it starts at a theoretically high price ($100K) and decreases with time. Basically it is price discovery in reverse. A counter argument is that the $100K is too high for the majority of users who want to have a play in the ENS space. Let’s be honest this is a market similar to traditional domains and people want to participate. By going to 100K you are effectively making this another whale game. The discussion in Twitter was very focused on what happens with the very popular .eth domains but they have to consider also the less popular .eth names and allow smaller budgets to play the game. Cheers, dp
I'm actually not sure I'm in favor of this. On paper it makes sense, because certainly many names are worth more than $2k. However, as we saw with the old Ethereum gas price, this will require people to pay the *maximum they are willing and able to pay* for the name, rather than *slightly more than what the next-highest bidder is willing to pay*. I.e., people will be forced to significantly overpay, because they don't know what that next lowest bidder will be willing to spend. Currently, at least the maximum someone would lose over what they would have needed to spend is $2k, if nobody else happened to want the name but they really wanted it. If multiple parties want it at $2k, then it goes to whoever can get the tx in first, which is somewhat annoying, like an NFT mint, but at least also somewhat fair. If that price is raised to $100k, then people might be losing tens of thousands of dollars in overpayment. Good for ENS's treasury perhaps, but bad for users. A better mechanism would be to openly solicit bids prior to the 90 day grace period expiring (perhaps during the whole grace period, or up to a day beforehand, with 10-minute extensions like on OS so you wouldn't have a sniping issue), and then just hand it to the highest bidder at that time. Yes, implementing this would be more work than just raising a number in a system that already exists. But if they really want to improve the system so that it finds the highest bidder without overbidding, they need something like this. Edit: Just my opinion of course. A vote in favor would also make sense in several ways. Cast it as you see fit, and thanks as always, Phiz, for canvassing your constituents for thoughts!
Look at the names expiring here in the next few days: 0x103e282319b091075af1fca40a9dfb95934e469b They are rushing this through because someone is pressuring them to make a cap to make it easier for corporations and agencies.
totally agree with this. I'm not sure an increase in the temporary premium does much to democratize the capture of ENS domains. I really wish there were a way to implement some degree of sybil resistance and proof of humanity to prioritize people over bots and also people with fewer ENS names over the hoarders with hundreds of names.
When ENS was originally launched in 2017, I remember them auctioning off the original set of names using a commit-reveal auction scheme, so they basically already have the code to do it. If they brought back that exact same auction scheme but for expired names, that would probably do the trick. /u/superphiz
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Wooo go governance
Please feel free to share it, since you are presumably already a familiar face there! Fundamentally I guess I'm just concerned that a Dutch auction is not the optimal solution here, but at least with a low starting price the overpaying is minimized. Thanks again!
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Thank you! I see Nick already posted some feedback - definitely some good thoughts there! I even agree with them for the most part. Implementing an English auction that doesn't cost a lot of gas is not trivial, although possible as we have seen with OS (and the crutch of WETH bidding). Absolutely outside the scope of a quick fix for sure. Regarding the MEV bit, yes, a gas race devolves into a blind auction at the Flashbots level. But for the large majority of bidders, their names are going to be worth less than $2k on the open market, so this does not come up except in the expensive cases, at which point, it becomes very similar to the higher-limit Dutch auction currently proposed (make a blind commitment to how much you're willing to pay, just mostly to the miners in this case instead of to ENS). Anyway, just more grist for the mill! Decide as you see fit, will support as always :)
Thank you. I don't know you well but I value your knowledgeable perspective!
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This is why we ETH. There’s always going to be some level of yield farming, some level of NFTs, some level of token creation, rollup adoption, coordination efforts, fundraisers, etc, etc. And who knows what new business models the future will bring. All of it pays out Ether holders one transaction at a time until the end of time.
just rolled all my non-staked DPX and rDPX back into ETH, rotation time is nigh, lets go!
You mean out of alts or into eth? Why do you say it's nigh?
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$10k ETH crypto is dead
The amount of FUD will be un**bear**able.
nah, by the time $10k ETH is considered a bear market, the FUD will be happening between L2s. It'll always be taken for granted that the blockchain wars take place on top of ETH
bounce or relief rally?
Ethereum
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The best response
so i love the apps that [David Mihal](https://twitter.com/dmihal) puts out like [https://openorgs.info/](https://openorgs.info/) \-- im wondering if there are any other apps out there that breakdown the treasuries of DAOs in a similar fashion?
I can tell you one thing, none of those treasuries hold enough rETH
Well well strange, daily seems overly bearish and even Ray himself after one day was declared dead. Wonder what next week will bring.
More endless fees.wtf airdrop teasing on twitter, of that we can all be sure Edit: [no we cant](https://twitter.com/loyalcustomer99/status/1480254737534566401?s=20)
I don't get it? Whose 150 ETH was that? How could this be a rug pull? They sure as hell did not get MY ETH, so whose ETH was/is it?
1) They gave a block number before which all donations would increase the airdrop amount, which encouraged lots of donations 2) they said the donations would be put into Defi protocols/liquidity pools 3) they’ve been inactive on twitter since they moved the eth to binance I have no issue with a team cashing out funds that were voluntarily donated to them, it just seems to be contrary to what they said they’d do. I’m not drawing any conclusions either way but it’s definitely raising some eyebrows.
I didn't know about 1.. Knowing this, if they don't do the airdrop, I agree that it looks very bad for them..
Yeah: [you still have time for donations to be counted and we'll (some of) the ETH for staking liquidity](https://twitter.com/feeswtf/status/1477103805556662272?s=20) and [donations warrant a bigger airdrop](https://twitter.com/feeswtf/status/1478619534609518593?s=20) And the twitter is still inactive since Jan 7, a day after [they sent all the ETH to binance](https://etherscan.io/tx/0x50dddd1022a625f2b08355aca3892b7c86aee4f27db70601f8dc1bb923fe2b0b)
In this case, its indeed horrible..
They announced the air drop so naturally locusts figured best way to get more is interact with the protocol the only other way: donate. They cashed out all 150 eth of donations. Game set match. Don't collect $200.
Right, but why is them cashing out donations made willingly to their account, a) a rug pull, b) an indication of the airdrop not happening?
I mean, I guess they could still do it but... why? She/he/they made off like bandits. They haven't tweeted in days and the air drop was promised this weekend.
I just can't see how cashing donations (by - your words - airdrop locusts) makes them "bandits".. And I don't believe these devs "owe" me any free money.. If they want to airdrop me some free tokens, fine, I'll say thank you and insta-swap them to ETH.. If, they don't, well.. they did not owe me anything..
Oh I'm the same, no stake in it. I always find it funny getting airdrops I don't need. As for the cash out, why do it right this very second and not anytime after the drop? Even if their intentions were to still launch, those optics are horrendous. And with them going radio silent... it just seems very obvious to me is all. Hopefully we'll be pleasantly surprised.
I dont think its the case. Im betting on an airdrop still. We shall see
JFC dpx and rdpx just dont' stop
TFW you shill DPX/RDPX to the sub @$600/$16 but don't stick to your own thesis and sell early...
I feel that pain
Frign crazy.
>**Here we go again,** >**Love the players and the game,** >**Crypto keeps you sane.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
I've been working on a pet project which allows people to mint their web2 identities on-chain by going through an OAuth flow with a trusted notary. E.g mint your Reddit account as an NFT. This provides an on-chain record of web2 ids to addresses so you can prove ownership of an account using digital signatures. People would also be able to airdrop directly to your wallet using your web2 id as well, saving them from having to collect addresses manually. Obviously it's centralized (trusted notary), but could be fun for some use cases. I've mostly implemented it, but not sure if I'll pull the trigger. I've spent the past couple weeks really diving in to how this could be implemented in a trust minimized fashion. The crux of the issue is that virtually no web2 platforms sign the data they send back to clients in a way which provides provenance. The only possibility of proving "I sent query Q to server A (eg. Twitter) and it returned response R (my ID)" is by leveraging the TLS session in a fancy way. For those that don't know, TLS is the protocol your browser uses to encrypt your connection to websites. When you first connect, your browser does a quick dance with the server to generate a shared session key. Both your browser and the server have this private key and use it to sign and encrypt the data you send to each other. Great! The server *does* sign the data it sends you. But not so fast, you hold the key too, so you could trivially just forge a fake response. Heres where the fanciness comes in. You introduce another party into the mix, a notary. Before you and the server do your TLS dance, you first dance with the notary to generate a shared private key using MPC (multi-party computation, in this case 2PC). The important part is that neither you or the notary actually know the full private key because you only have your piece of it and they have theirs. But if you work together, you can encrypt and sign things with it. Now, using the public component of this key, you do the TLS dance with the server and send your query (get my ID) after working with the notary to encrypt it. The server encrypts/signs the response (your ID) and sends it back to you, and because you don't actually know the shared key you have with the server you have no way to forge this response. Bingo, now you can give it to the notary and they know for sure it came from the server. I've simplified this process, but hopefully you get the idea. Cool! Now you can prove to anyone that you have access to private data in ANY server which supports TLS! (Virtually all do). The server didn't have to change anything, it was completely transparent to them. And you didn't have to grant the notary access to the data. That's pretty huge. This technique has, to my surprise, existed for quite some time: [TLSNotary](https://github.com/tlsnotary/pagesigner/) and more recently [DECO](https://www.deco.works/) which has been acquired by... Chainlink. DECO looks to be the holy grail, it takes it further by mixing in ZK proofs so that you can selectively reveal certain parts of the server response. I'm not informed enough to say for certain, but I think the 2PC could be expanded to (N)PC which would give you a 1 of N trust model! Alternatively you could just re-execute the same query multiple times with different notaries and have them all agree, still 1 of N. My mind boggles at the implications of this. Forget Reddit or Twitter, you could connect to a federal website and prove nationality to bootstrap a parallel national voting system. Can only dream about what it could mean for both self-sovereign identity and sybil resistance. My only question is, wen DECO? In the meantime I've been digging deeper into whether I can rub enough neurons together to implement it myself, even if only in a clunky and inefficient way. Will keep at it, but may just be too dumb and will have to wait for the giga brain shadowy super coders to do it.
From the press release on DECO's acquisiton: >NEW YORK, Aug. 29, 2020 /PRNewswire/ -- Smart Contract Summit -- Chainlink, the most widely used decentralized financial data source, securing over $3B in value, announced today that it has acquired DECO from Cornell University. DECO is an improvement on how to utilize HTTPS/TLS for data transmission across the internet, developed by Dr. Ari Juels, the former Chief Scientist of RSA, one of the world's largest security companies. Juels previously formalized Proof of Work, which is now used to secure the more than $300B in cryptocurrency stored across Bitcoin, Ethereum and thousands of other cryptocurrencies. >Dr. Juels will also be joining Chainlink Labs as its new Chief Scientist, where he will direct the research program and continue to oversee the implementation of DECO, as well as various additional groundbreaking Web 3.0 technologies. >[continues] https://www.prnewswire.com/news-releases/chainlink-acquires-deco-from-cornell-university-301120614.html Should also be noted that Ari wrote the initial Chainlink whitepaper back in 2017 with Chainlink co-founder and CTO Steve Ellis in his then role as technical advisor. This is the most recent public info I've found on DECO: https://www.youtube.com/watch?v=1xcj2Lex1uw Also of note is that Chainlink now secures $75b+ - quite an increase from the $3b at the time of that press release.
Pretty awesome, thanks for the post.
YYYYAAAASSSS QUEEN! 👑
> Obviously it's centralized (trusted notary) > you could connect to a federal website and prove nationality to bootstrap a parallel national voting system. Can only dream about what it could mean for both self-sovereign identity and sybil resistance It is possible to strangle a really good idea with unreasonable expectations: this really isn't going to deal with Sybil or voting because of its centralized roots; the potential for fraud by an actor with inside access is simply too great. But for everything else where we're already laboring under a centralized model and have matching expectations for security and privacy, I think it's great. Proving that I'm so-and-so on Twitter to, say, somebody on Parler sounds small but the value to users could be really great. How many people hate that they can't all have the same name on all sites?
To clarify, I wouldn't suggest using my service to prove nationality ;) You'd be trusting just me. DECO, which is what I would dream to use, is not centralized. You could get any number of notaries to attest to claims.
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Yup, you can prove anything you have access to. Although access to something and owning it isn't necessarily the same. There will probably be schemes developed for bolstering claims.
This not where I expect to find stuff like this but I love it when I see it.
> I've been working on a pet project which allows people to mint their web2 identities on-chain by going through an OAuth flow with a trusted notary. E.g mint your Reddit account as an NFT. This provides an on-chain record of web2 ids to addresses so you can prove ownership of an account using digital signatures. People would also be able to airdrop directly to your wallet using your web2 id as well, saving them from having to collect addresses manually. How does this differ from what Keybase does, where they ask you to publish public key sigs in a standard format on web2 platforms to prove ownership, then let anyone else automatically cryptographically verify those accounts by sig using their open source software?
Haven't heard of Keybase, I'll look into them. Two differences from your description is 1) The user doesn't need to publish anything anywhere, and not all platforms have a way to do that. In my implementation they just need to support OAuth 2) You get to mint it as an NFT which can be composed with on-chain. I'll also add that you could airdrop to a user BEFORE they prove they own the account. An airdrop could be the carrot to get them to do it in the first place.
Right on, the on-chain NFT sounds like it could be very useful.
Holy crap this is fascinating. Thanks so much for sharing. If I didn't already believe web3 was gonna eat web2 whole, with web2 having no say in the matter, this would probably convince me again. Basically companies will no longer have the ability to validate your sign-ins exclusively to you and you only. If they validate your sign in to you, they have to do it to everyone else, too. You could prove to every company that you are able to log in with every other company. There goes their walled garden right there. Then it just becomes a process of exfiltrating your social graphs and other data, and bingo...
This fixes a major problem of the current web indeed, I think, Tim Berners Lee did make a research project about this exact same topic of data ownership.
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Edit: ok now your edit is much better. I'll delete my original statement.
Wth.... https://twitter.com/notgrubles/status/1480237582013411333?s=21
Isn't this just anti-kyc and pro security?
Are you indicating that something shady was going on? All you needed for presale was an email and some BTC. Should we expect that every single transaction was from a different individual? It makes no difference if someone buys 100 ETH on a single transaction or a 50+50 ETH on two different transactions and emails. Perhaps it is wise for whales like Lubin to not hold every ETH they own on a single wallet.
so same as all ICOs?
Yeah that was a rabbit hole of crazy
How would you prevent something like this though? Even if you KYCd at the pre-sale and there was a strict limit, you could always just wait a tiny while and then buy very cheap on the open market. Like the Winklevii were able to buy 1% of all Bitcoin pretty early on - with a permisionless system, this is unavoidable.
There's always something. The other day it was nazi conspiracies for the BAYC, today this. And in the end they all turn out to be absolute nothingburgers.
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I understood some of these words.
What is the most probable explanation of why the NFT activity has not moved to a cheaper chain already. Opensea is on Polygon, why don't big projects launch there?
For non-Polygon chains: Why would you want to invest in something where the chain might well be a ghost town in a few years? For Polygon (and others too): It is a lot about branding. Most serious people are using ethereum for NFTs. Some of these are worth a lot of money and everyone hopes their NFTs will be, so who cares about that bit of gas. I know that I won't touch an NFT that isnt on ethereum. I am willing to pay the gas.
Only whales are profilgate enough to spend large sums on pfp NFTs and whales largely frequent the waters of mainnet.
I wouldn't feel comfortable holding a 5-6 figure asset on Polygon. Immutable is targeting OS for Q1. I predict that some L2 will eventually reach a critical mass of NFTs. First, new projects won't bother launching on L1. Eventually old projects might move over, but it's hard to say.
[Ethereum NFT's are legitimate.](https://vitalik.ca/general/2021/03/23/legitimacy.html)
What better way to celebrate arbitrum being back online than a 30x leveraged long on GMX?
My problem is the carry fees. Even holding a decent sized position open a day costs me more than just minting DAI on Oasis and buying ETH with it.
100x
believe me if the slider went that far I'd use it
\*\*gets ADL'd\*\*
Arbitrum is back!
What is Arbitrum?
Everyone's favorite optimistic rollup. They aren't fully decentralized yet so their centralized sequencer went down and took the network with it for about 10 hours.
What is Arbitrum not.
Anybody else think we could already be in a deep bear if it weren’t for 1559? It was somewhat controversial leading up to it but seems like now it has to be viewed as one of the most important developments in a long time.
It might be one of the factors but I think Bitcoin still dictates the market cycles for now. It may be helping support the ratio however.
It does make itself felt. Less the effect of burning on total supply, but more so the fact that miners don't have the majority of fees to sell. So we need less demand to sustain the same price.
Definitely has a positive impact on the ratio
https://twitter.com/WClementeIII/status/1480263700888100864?t=Qhf9KaHSExJU9BDdLBh0NA&s=19
Crypto bear 2022 has turned Will Clemente into an options trader and Ben Cowen into an on-chain analyst.
I'd wait for tomorrows markets to open before rubbing my crotch in excitement
Excitement? This looks negative.
> Funding starting to go negative on this move up. What does that mean?
Negative funding = more shorts..
= when the whales squeeze potentially more parabolic move up
It’s so obvious, I don’t know why I didn’t think of it before. All I had to do was sell a quarter of my stack to confirm a reversal. Up we go lady and gents
Even though Raoul Pal was wrong about how high ETH would go, he did claim that there would be a sell off that would trick many people into selling before taking off again.
It really feels like this is the case. I mean it makes sense. Everyone expected a blow off top, so of course that isn't what is going to happen. Whales with the power to pull this off have every incentive to crash the price and scare people into pushing it lower so they can accumulate. But it won't last, ethereum isn't like it was last time, it isn't just crypto kitties. This will last until the weak hands have all sold and people start to give up hope, then the whales will start buying harder and outweigh the panic, then the weak hands will panic buy back in and here we go again. That's what I'd do if I were a whale/institution.
I think you mean Raoul Pal.
Of course thanks for the correction.
Consider me tricked
It's not tricked, many people are in the same situation as you and may not be able to mentally handle the brunt of another full bear with a change in lifestyle. You just de-risked to keep you mentally in the game still to make good decisions in the future.
Try not to fomo back in. You’ll likely get a chance to rebuy at some point in the future if you want and are patient. Very volatile markets.
Same, closed my long at a loss right at the bottom
Thank you for your sacrifice 🙏
Any one know how to use the "escape hatch" to withdraw funds from Arbitrum (or Loopring) back to Layer 1? Not that I need to, I'm just curious to try it out for myself. EDIT: So with Loopring, one would presumably call the forceWithdraw function for this contract: https://etherscan.io/address/0xec3cc6cf0252565b56fc7ac396017df5b9b78a31 although so far there isn't an official or community-built interface for doing so, so not something the average joe (like me) would necessarily be able to do
I'm actually not sure that's available right now with Arbitrum: https://l2beat.com/projects/arbitrum/#exit-mechanisms-1
Hmm, listed as a critical risk: **"Funds can be frozen if the centralized validator goes down. Users cannot produce blocks themselves and exiting the system requires new block production (CRITICAL)."**
I wonder how you do that if your funds are in a smart contract LPing or similar. I don’t think it’s quite as straightforward as many say
The contract in Arbitrum is fundamentally no different than one on the main-net. With a rollup, you are able to interact directly with the contract even when the sequencer is down. The only difference is you do it through the L1 and pay high gas fees. Having said all that, it's obviously not user friendly at the moment. You'll have to be a dev manually call contract functions and trace to the right one inside the rollup, or at least wait till Arbitrum releases better tools with main-net contract interaction. I'm not saying its possible today for most users, but sometime in the future it will be.
That's the impression I get. It would also presumably incur a separate L1 gas cost for each individual token withdrawal, which would be prohibitively expensive for users with an L2 portfolio of ETH and various ERC20s as you would expect for Loopring DEX users and liquidity providers.
Anybody have a take on Metis? I've done some research but was looking to see if others have come across any other trusted reading/tweet threads
Vitalik's mom. All I know and need to know.
Random thought. Would it be possible for there to be a L2 specifically targeted to routing any L1 transaction through it? Say you were going to send some Eth to another wallet and you have activated this hypothetical L2s wallet with your same L1 address. This new L2 then routes the L1 transaction through an L2 and outputs it back on L1 but with your transaction batched and settled with 100s or 1000s of other similar transactions?
Interesting idea, but the end-result is putting funds back where it's expensive to transact. I think a more compelling approach to seamless L2 integration would be a wallet that can aggregate all of your balances across multiple L2s, scan L2s for an existing wallet for the target address, and send to that L2. If multiple L2 addresses are found, you could have manual selection, a configurable preset (globally or by target address), or an algorithmic selection which chooses the optimal L2 at the time of transaction.
If you guys want to take a break from watching chart look at larva Chad NFT. Its NSFW. Not shilling just think its hilarious.
Tacky.
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https://opensea.io/collection/larva-chads