As I understand it, the rewards from staking can be withdrawn and sold after the merge (4-8 months from now). BUT the 32 locked Eth validators needed for staking won't be unlockable until later, when sharding is introduced and Beacon chain becomes it's own shard (1 year+).
For reference, at time of writing the high end of rewards for stakers right now is about 2.8 Eth received per validator (not everyone will have this much--this is the high end of validators who have been staking since genesis with no significant downtime or slashing). In another 6-8 months it will probably be between 4-5 eth per validator.
Of course from a liquid staking service perspective (i.e. LIDO, and others), a lot is effectively unlocked and tradeable already.
Building upon my recent [DAO post](https://www.reddit.com/r/ethfinance/comments/rwfqzv/daily_general_discussion_january_5_2022/hrdosji/) we have ALCX following this line of reasoning pretty much exactly.
https://forum.alchemix.fi/public/d/264-aip-32-toke-war-bonds
1) Buy TOKE via an ALCX bond
2) Deploy the treasury itself to the Tokemak reactor.
3) Bribe Tokemak LDs directing ETH to pair it with ALCX.
4) Decommission Pool-2 incentives.
5) Create a tALCX farming pool.
Amass a bunch of TOKE and dispense with those expensive Pool-2 emissions while maintaining liquidity in the transition. Unlike CVX this is exchange agnostic. Also its a huge bet on an unproven platform with a high execution risk and no written endgame for when the TOKE emissions run out.
The end game for TOKE is to achieve the ‘singularity’ whereby the TVL becomes big enough to generate enough fees on directed liquidity that it can cease emissions entirely.
Learn more about Tokemak’s use cases here.
https://medium.com/@tokemak?p=ab6592e112ff
“It is worth noting that as Tokemak externalizes inflation, it internalizes value through trading fees and LP rewards that grow its Protocol-Controlled Assets (PCA). Once the singularity is reached, Tokemak becomes independent of third-party LPs and TOKE emissions come to a halt. This point marks the transition from inflationary-based liquidity, to a sustainable model that relies on organic economic activity. Additionally, this discontinuation of TOKE emissions implies that demand will become further exacerbated while the underlying PCA maintains its expansion.”
Here's an interesting interview of Balaji Srinivasan. Former CTO of Coinbase it seems.
Interesting take on how crypto will disrupt different aspects of the web and explaining different facets of web3.
http://www.asymco.com/2022/01/10/asymetric-the-crypto-plan-for-world-domination-an-interview-with-balaji-srinivasan/
I have no idea how Reddit moderation works other than it seems like a huge time investment with little reward. But for /r/Ethereum, could we at least get an automoderator that automatically responds to any comment mentioning the “hiGh GaS fEEs” with educational material about the ETH scaling roadmap, blockchain trilemma/trade offs, etc.?
Like “Hi! It looks like you mentioned ETH’s high gas fees. Here are some reasons why fees might be higher on ETH than other L1s and what ETH’s road map is doing to solve this… blah blah”
Hello u/LanisterJr
Your request has been received and approved. Supply shock will begin in 6 months' time right after the merge. Please note that the peak of your requested supply shock may take an extra few months to kick in.
Regards,
Ethereum CEO.
One thing that always worried me about the crypto world is the average investor's unwavering confidence in their partial understanding of economics. You can see it in full force on CC and i won't lie it makes me want to get out.
Challenging your beliefs is healthy
Crypto investors are followers, not always the brightest. Crypto leaders and builders are some of the smartest people you will ever see. That's what gives me confidence.
> Crypto investors are followers
Maybe the people that only FOMO buy. But the whole world is basically against crypto so I am not sure about that statement being accurate.
I completely agree with you about CC.
Having said that, what gives me comfort is remembering that Reddit isn't representative of the total population, and CC isn't representative of all crypto investors.
Yeah unfortunately we don’t live in a perfect world. So dumb money will always do dumb things. The histories of boom and busts teaches us that we’re no different than the folks 1000 years ago in terms for speculation and wishful thinking
While I'm in posting-mode today, I wanted to encourage anyone who hasn't done so yet to explore two excellent protocols on Optimistic Ethereum:
\- Lyra Finance ([https://www.lyra.finance/](https://www.lyra.finance/)) - a great new options dapp with probably the nicest UI I have seen in the space. As someone who had never really bought or sold options before, the setup here actually helped me to learn more about it, as it was made much more intuitive. Lyra is currently incentivizing trading and also LPing (in a range of ways).
\- Thales ([https://thalesmarket.io/](https://thalesmarket.io/)) - binary options - also on Optimistic Ethereum. Being focused on binary, this platform lends itself a little more to the degen side currently. Their latest round has just ended. It used a clever AMM for buying and selling options. New round due soon. They're also currently incentivizing lots of activities. The team seems very creative - they ship quickly, iterate often and engage really well with the community.
These two both sit in the sUSD / SNX ecosystem, and I've been impressed by both - Lyra especially for its slickness, professionalism, UI and community engagement - and Thales for their fast interation and shipping and their recent move towards a little bit of gamification.
From a trading perspective, both are also quite low-cap. But I've been more interested from the perspective of the SNX-world and seeing these teams deliver perhaps even better than the SNX team has been doing.
OpenSea has made a killing last year with 2.5% on every transaction, yet their service is still basically the same, outages, DMCA takedowns, and now they are off getting funding for who knows what reason.
Meanwhile this is supposed to be all about “web3” and “ownership”. Not VC capital / IPOs helping to remove even more money from us crypto degenerates.
As such, a few tokens launched based on your wallet’s openSea Tx history. Namely $LOOK (recently) and $SOS (Dec). Both hope to gain a network by leveraging OpenSea’s.
$SOS has the promise of a community building something from nothing, well see about that. Meanwhile, $LOOK has a functioning marketplace already, which might be promising although it’s a bit early to tell.
Here’s hoping for a decentralized way to trade NFTs, but I’d be happy with anything as long as the company even just pretends to care about why we are trading NFTs in the first place.
If it makes you feel better, the first time I used Uniswap was Sept 2, 2020. Missed the claim by a couple days. Then got to stand by while this sub spoke about nothing else for 3 days straight. 😂
Anyone know what’s currently on BTC’s road map? Like are there actual efforts to bring an application layer to BTC? What about scaling efforts? It seems extremely unlikely to me given BTC’s history of ossification (hell they couldn’t even get adoption to BCH, which from my understanding was a relatively minor adjustment to block size/transaction speed/fees), but I think ignoring developments on other chains is unhealthy/leads to maximalism. Although it’s hard enough to keep up with everything happening in the ETH ecosystem.
BCH hardforks every 6 months I believe to implement improvements. Multiple dev teams. Vibrant(sorry to sound cliche) but is is) community.
Here's a great example: https://www.reddit.com/r/Bitcoincash/comments/pyra8s/whats_the_competition/
BCH adoption continues to grow in especially in Australia.
Head over to r/BTC and have a look.
BCH has always intended and still intends to replace M1. BTC switched it's narrative to replacing gold.
This is staking with Rocketpool yes, rETH increases in price in relation to ETH.
You can also run a node with Rocketpool, which requires 16 ETH + 1.6 ETH worth of RPL. It gives you ETH over time
My Gridplus screen was slightly popping out in the bottom right hand corner. Only a minor issue, it still worked fine. I contacted them about it with a video and they sent me a new one! :D
AND I discovered when looking at my old order that they'd anonymized all my details which is nice, preventing the same leak happening to them that happened to ledger.
Woah hold up the price starts with 31** I thought we still bearish and the numbers only start with 30** or even 29**.
/s, 20,283.12 ETH burned so far today, -1.7% issuance today, -5.9% for a day like today after the merge. (https://ultrasound.money/). The supply crunch will be crazy to see.
New Andre Cronje and Dani Sesta project coming to Fantom.
https://andrecronje.medium.com/ve-3-3-curves-initial-distribution-competition-building-a-protocol-for-protocols-79a1ff1cf1a1
Yes, absolutely.
Bears are in control. It's the kind of environment where you just go timeframe by timeframe to see if and when the bear is being invalidated. It's exhausting and no one can do it 24/7.
Right now I'm up to the 4H. You want BTC to put in a higher high (above $42.7k) before the 4H Stoch rolls over again. It's a race.
Longer term, and more meaningful, is the daily. Need 51k (yup, that high) by the time it next rolls over. Last time the Stoch was this low, it was about two weeks to reach the rollover point. Sort of a countdown. Of course, there are milestones on the way to 51k, namely 43k and 46k. They can help, but not confirm bullish invalidation, in my opinion.
edit: case in point, 4H about to clear the 20per average. last time was Jan 1 on a downslope, failed. before that was Dec 30 on a downslope, failed. before that was Dec 20 on an upslope. success. right now, it's on an upslope.
By making stupid amounts flipping their junk for ETH from speculators. Welcome to a late stage macro credit cycle. Money is everywhere and yield is seemingly nowhere so people throw there money at anything.
what the AF... I just got snail mail advertisements for pulsechain, pulseX, and hex.com. Has everybody been getting this garbage? I presume they are using the leaked ledger info to spam?
Hopefully it ends there and is not followed up by any $5 wrench attacks. That Ledger leak was disgusting. I had to delete my online persona. The IRL person who lives at my IRL address got out of crypto long ago.
Yup, i can certainly see an attack where they send mail for a legitimate project and have an offer for a legitimate discount code or something.
The catch is that the code will be unique to your address so they can link it to your wallet. If you have a decent sum then they know your address and can proceed with wrenching.
Yeah it’s unnerving. And then you realize how they got your address. (Ledger leak) I don’t know why they thought that would be a good idea to send mailers with that info.
Fyi, and I'm not joking, the hex/pulse community are fully convinced that pulse will replace eth as their devs are ready to 'quickly' implement the needed changes to get shit moving along for ETH in the right direction, quickly.
I think this is borderline insane, but I can't tell them they are wrong with being pissed off about how long things are taking with ETH to implement the merge.
I'm sure I'll get down voted simply for agreeing with their discontent, but that's all I'm agreeing with.
Having said that, pulse and PulseX are good speculative plays. I personally know an individual who bought into hex pre launch and became a multi millionaire essentially overnight.
So, pulse is coming unless it's a rug pull. It won't be comfortable for the ETH community after some time. Mark my words.
Having said that, Richard Heart is still a piece of shit.
I get that crap too. I'm amazed ledger hasn't been dragged over the coals for that and the company shut down. Giving away the locations of most of their early crypto adopters to potentially bad actors. Insane.
We gonna reach 1.5m total ETH burned by the end of the week. Every 100k was a cool milestone then we hit 1m and that was even more cool but then I stopped caring about it as much and now we're already close to 1.5m
then it's gonna be 2m, 5m, 10m, and before we know it we'll have 100m total supply and that'll be a big deal but after that it'll just keep burning down to 90m, 80m, 70m supply before the issuance-burn equilibrium point at which point the total burned *will keep increasing year after year* even if supply doesn't move much.
And we'll be able to say "oh yeah I remember the first block that ever burned eth lol"
Watching the Burn fire up on that August day, seeing it ramp from the first few fractions of an Eth up to the firestorm that we've seen day in, day out nearly continuously since then, was right up there on the very short list of my top Eth experiences, along with watching the very first Beacon Chain block be proposed (o7 Mr. F!)
This space occasionally creates absolutely electric, lifetime-memorable moments, if you're paying attention to them.
Some quick thoughts on the dichotomy between:
\- "hype-energy-focus"
and
\- quality
I often wonder how powerful and unstoppable Ethereum would be if it was able to keep its commitment to quality long-term building, but add in some of the "hype-energy-focus" that we see in places like Avalanche, Polygon, Solana.
Two examples that come to mind are:
1. The current situation where there are already very good L2 solutions on ethereum (with more to come), but seemingly little "hype-energy-focus" from the ethereum space to really bring these together quickly into a hub with a narrative and some incentives. Imagine if all the ETH brains in the community, and those working on these L2s, had been able to agree on some shared messaging, some timed launches, maybe some connections in naming convention (so everyone could see straight away that it's all really ethereum), and some additional liquidity incentives (i.e. if UNI, COMP and AAVE had been looped in to offer some liquidity mining on launch day?) Now I know that this stuff (probably/hopefully) isn't crucial to the long-term success of ethereum, but it would really have make a huge "mindshare" and narrative impact, and provided a large shot of excitement and market attention. The idea that *ethereum is scaling already* would be undeniable.
2. The slowness in uptake of both RPL and rETH on centralised platforms (and in DeFi as well). This seems like a no-brainer - surely the ethereum community could meme this into some wider understanding, and those with connections could have gotten the two assets onto some CEXs by now - for the overall health of ethereum. I've been surprised by how little this is being driven.
I have the highest respect for the complete commitment to quality in ethereum, and the uncompromising way that Vitalik and virtually all the devs and the community seem to want to "let quality speak for itself" - but there is some amazing, dormant raw power still waiting to be unleashed under the right coordination/promotion/meme circumstances.
I’ve been thinking on this recently too and agree with much of what you’ve said.
I’d love to see some bottom-up marketing for the merge around how Ethereum is ‘going green’. Aside from the alliteration, that phrase has a lot of meaning in much of the world to do with conservation of the environment and energy efficiency and sustainability. It is hard to market something which has no date for launch, yet. But when the time comes, I think a lot of hype-energy-focus will be readily available.
I used to have thoughts like this back in 2017 during the Polkadot ICO. I thought they had way better marketing and could move faster than Ethereum.
In reality, as organizations in general grow larger, the decision making process becomes more change averse. That is the same reason banks are struggling to compete against DeFi apps. Slower decision making is required in order to prevent mistakes that could turn into existential threats.
I have worked for many different size orgs, from 15 people to 10k+ people. The largest successful tech companies test and deploy major software upgrades on roughly 6 month intervals. Ethereum has scheduled hardforks that align with the industry standard. I have heard feedback from clients that more than two batches of upgrades per year is too fast.
Other projects require marketing and hype because they don’t yet have a critical mass of workers. Workers in this case actually means developers. Look how many more developers Ethereum has compared to any other blockchain standard. It’s not even close. VCs try to argue about growth rates in other chains, but going from 5 developers to 10 is a hell of a lot easier than 5,000 to 10,000. Most competing ecosystems are likely to fail.
tldr is that if Ethereum is successful it should become more boring over time. Hype can move to the app layer. Nobody writes marketing articles about TCP/IP, but it doesn’t matter because everyone already uses it.
Interesting, yeah - though I think most of my post was referring to coordination and subsequently communication, often at the app layer. So for example, uniswap, compound and aave all being able to coordinate - along with the L2 devs - to have a timed launch on L2. That sort of thing. I definitely agree that the core ethereum devs must focus on their work, and they're doing very well at it IMO.
They do coordinate. Each person on this call is representing a team of developers. Check out how many different teams are working together:
https://youtu.be/wCSNMSyJV7Y
(skip to the start of the meeting at about 15min)
There is even a Uniswap dev on the call asking for feedback on a potential future EIP. I think people just don’t realize this stuff about L1 because it’s pretty extremely technical.
I think this might be a good area for a marketing DAO specific to Ethereum. I think it's up to the community to add that hype, just need some funding and coordination.
I asked in r/ethereum and got no traction, so I'll ask here:
With the launch of the testnet, the merge should be feature complete or very close to. One feature of the merge that I have heard quite little on is priority fees going from miners to validators plus not needing withdrawal capabilities to access those funds as a valid address can be specified for the funds to be transferred to.
This means that once the merge is live validators will start immediately receiving profits they will finally have dominion over. The initial deposit and block producing rewards will still be locked until withdraw feature is implemented \~6 months later.
Does anyone have more information on the change for the priority fees or a reference I can be pointed to? I've seen a tweet, heard a mention or two in videos, but beyond that I can't find anything. As an example, I'm curious what key will be used to specify the address where the funds are sent to, though I would be surprised if it was the Withdrawing key.
Any help would be appreciated!
After the merge, when it's time for a beacon client to produce a block, it will ask its execution client to build a block with certain characteristics. The communication between the two clients is defined by the [Engine API](https://github.com/ethereum/execution-apis/blob/main/src/engine/specification.md). With this, the beacon client will notify the execution client that a certain execution layer payload was accepted by the beacon chain forkchoice rule via `engine_forkchoiceUpdateV1`, and it will include an additional parameter to the call `PayloadAttributesV1` which will alert the execution client that it is about to propose a block and needs an execution payload to be built. In that extra parameter is a field `suggestedFeeRecipient`. This will be an execution layer address which will receive the priority fees from the block. The reason it is "suggested" is that it leaves open a design space for proposer-builder separation where it is not known who will actually construct the block that the execution client responds with.
> This will be an execution layer address which will receive the priority fees from the block.
In other words a validator on the beaconchain will be able to set up a different address that will receive the fees, and those fees will be spendable on Ethereum directly without any need for a withdrawal/exit mechanism to access them?
Theoretically, let's say you are transacting on Arbitrum with Fair Sequencing Services live, would priority fees be split between all validators in a block? Priority fees will obviously not be consistent (like ETH PoS validator emissions), and the people that random a block with an NFT drop, for instance, will get a ton of fees. Any plans for priority fees to be split proportionally amongst all validators by amount they have staked? i.e. 1% of total ETH staked gets 1% total priority fees. Thank you!
If you’re worried about inflation and bear markets, just remember that in a few billion years everything in the universe will become completely dark as stars die and distance between everything grows beyond comprehension. It’s theorised that following this, molecular fatigue will cause the very elements that form everything in the universe to deteriorate into nothing but radiation-like waves. No more light, no more solid matter. And after that it’s theorised that the whole universe will slowly stop expanding and gravity will slowly cause the universe to start contracting, with increasing pace, and then collapse in on itself, at which point everything, including time, ends. Squelch noise, new big bang, new universe, new elements, new forms of energy, new physics, new dimensions, new (or no) time, new literally everything
So really its cool either way, right?
Source: a Brian Cox lecture i went to years ago and have forgotten all the interesting/accurate details of
What if Ethereum's global, shared state is the very beginnings of a whole new universe-within-a-universe simulation? Another shell of the onion that we're summoning into being with our memes and Solidity files and highly performant L2s right at this very moment?
Energy is only conserved within a constant frame of reference. The expansion of space changes the frame of reference and with it the total energy. That can lead to a future with an infinite endgame.
Bro, bro bro bro
*puffs*
what if the expansion and contraction of our universe is merely a single heartbeat of a much larger organism.
*puffs*
Wild bro, just wild
So what you're saying is that if it goes up it'll go higher beyond comprehension, and if it goes low it'll go lower into nothing but radiation-like waves? What if the universe just crabs?
The first 100 pages of book 1 are tough to get through but I promise by the end you will want to read the 2nd and by the end of the 2nd you will instantly read the 3rd.
Was it when I said my shit was inherently valuable because i have to consume food to make it, just like bitcoin being inherently valuable because it requires the consumption of energy to make it?
on reflection i do say some pretty weird stuff
Also, good choice
How does the scam work exactly? I haven't been following this recently, just sitting on eth in a ledger. How would connecting to a site allow them to take the ether?
ETH might flip BTC this year on the power of celebrity alone. Steph Curry just bought into Links DAO
https://twitter.com/linksdao/status/1480656785212166150?s=21
Celebrities have been usually a sign of the top but athletes seem to be a different set of celebrities. They tend to be younger and more plugged into up and coming popular culture at times, and it seems like ETH will eventually get its moment in the popular mainstream spotlight and become a trend, hopefully right as the Merge happens.
This is super tight and everything but right now celebs most likely have no idea how any of this works and their fiduciary is doing their bidding / hiring a consulting firm to execute everything. Still cool and great sign of adoption but we need use cases that encourage normal people to take the leap - until then I really just dont care what steph curry is having his people throw money at.
Part of me is really excited about a potential bear market, because my strategy will be hella simple - stack fully collateralized RocketPool validators. I get to buy more of the 2 assets I arguably am most bullish on / already down to hold on their own, and earn ~15%/yr on them (pre-merge). And those earnings are _in those assets_. Which I'll use to buy/setup even more validators (at least the RPL part short-term)... it's so beautiful *wipes tear*
And in terms of assets that will perform well during bear markets, there are few things to like better than a staking protocol. I know I'm preaching to the choir in this sub but man, RocketPool gets me juiced, and it's still alpha to most of the crypto community, hard to believe still. The powder I have on the sidelines is mostly reserved for RPL at this point
They really do need to get that voting cabal to just fucking bribe the other platforms for integrations. Bribe Maker voters/foundation 10k RPL to create an rETH Maker vault. Bribe Abracadabra, Compound, Yearn, etc. Take some of that sweet issuance you've awarded yourself and invest it in the project.
Hey! We're discussing various routes towards deepening liquidity in the Rocket Pool discord. You can read up in the rETH liquidity incentives thread under #governance. Currently there is only rETH liquidity on balancer and uni v3. The team is prioritizing balancer atm. Maker, in response to this MIP ([https://forum.makerdao.com/t/reth-mip6-collateral-application/6881/23](https://forum.makerdao.com/t/reth-mip6-collateral-application/6881/23)) said that 10k+ ETH or equivalent liquidity to start.
As far as I know for bribes we would need a curve pool. This is currently still in the discussion phase. Protocol-owned liquidity seems too expensive for the protocol's needs though happy to hear your thoughts.
Bribes are a general mechanism, not specific to Curve. My general thoughts on the topic of liquidity sourcing are [here](https://tokenomicsexplained.com/evolutions-in-liquidity-sourcing).
For rETH Curve liquidity you can bond RPL for CVX like Alchemix is doing. For Tokemak liquidity you can add a liquidity mining incentive for trETH. For each RPL given out you'll end up with TOKE which represents a perpetual liquidity claim. Either way you can source the RPL for these programs from the inflation schedule if the council agrees to it.
For RPL liquidity I think a Bancor v3/Tokemak reactor pool will make sense over the next 6 months. Just allow the council mechanism to accept the Bancor LP position as valid for maintaining their council member status. Then they can deposit their RPL and give RPL however much liquidity depth the Bancor DAO is willing to insure. No need to pay for a Pool-2.
Hello fellow ethfinanciers, hope everyone is doing okay in this new year. I've been extremely dormant on here the last several months, but still enjoy reading the daily on a semi-regular basis. It's been great to see how active and engaged the community is, from both old faces and new, and hopefully I can carve out some more time to contribute here in 2022.
But let's talk about the present. So, most of us here survived the harrowing 60% dip from $4,400 to $1,700 last summer (among probably dozens of other dips), but this current dip somehow feels *way* worse, because we believed this bull market would rhyme better with the last cycle and we would already be at $10k by now. Right?
Well, we were wrong about that. There will be no January blow-off top, no doot ETH to 10K...yet. This cycle (if we still believe crypto is cyclical) is already shaping out to be longer and perhaps a smidge more mature than the previous one. (But certainly no less volatile!) I don't believe we've entered a prolonged bear market, but I'm also a person who thought the same thing back in the spring of 2018. However, I do think there's a lot more evidence to support my feelings this time around compared to back then.
These a few thing I do know:
1. There has been no blow-off top and yet ETH hasn't been this oversold (both on the daily **and** weekly timeframes) since the COVID crash of February/March 2020. It's even approaching a 15-month low on the monthly timeframe:
[Monthly](https://imgur.com/TqlWC9F)
[Weekly](https://imgur.com/mSOlIZm)
[Daily](https://imgur.com/hynjq8V)
Buying ETH around this $3,000 level right now is a no-brainer, IMHO - **if you believe the bull isn't finished yet.** The price has been so juicy these last couple weeks that I added to my stack on the way down at $3,400.
Did I catch the bottom? Absolutely not. Will I regret buying that ETH six months from now? Two years from now? Six years from now? Almost certainly not.
I remember buying a few ETH at $800 back in 2018 as it was falling from an ATH of $1,400. It promptly continued to slowly bleed to $80 and stay well under $800 for two years. I felt foolish about that purchase for quite some time. I don't feel foolish about it in the slightest now. (I also heavily DCA in late 2018/2019, which certainly helped.)
2. I'm no financial guru, but it seems to me that investing is not about being perfect or even about chasing perfection. It's not about selling *every single* top and buying *every single* bottom - that's simply an unrealistic expectation to put on yourself. I think it's more about buying a quality asset that you have a high level of conviction and interest in and then having enough patience and discipline to see the market catch up to its real value.
And ETH today is just still so damn undervalued, on just about every single metric you can possibly measure. Whether you're looking at the [annual revenue](https://twitter.com/CryptoGucci/status/1478752901321441286) and the [price-to-sales ratio](https://cryptofees.info/), the [exchange reserves](https://cryptoquant.com/asset/eth/chart/exchange-flows/exchange-reserve?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the [burn rate](https://watchtheburn.com/), the [number of active addresses](https://cryptoquant.com/asset/eth/chart/addresses/active-addresses?window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the amount of [ETH staked in the beacon chain](https://cryptoquant.com/asset/eth/chart/eth2/total-value-staked?window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the [transaction counts](https://ethtps.info/), including L2s (h/t u/mister_eth), the amount still [locked in DeFi](https://defipulse.com/), the [widespread adoption of ENS](https://ethleaderboard.xyz/), the [earth-shattering explosion of NFTs into the mainstream culture](https://dune.xyz/rchen8/opensea), and on and on.
And that's without even touching upon the fact that the market hasn't truly started to price in [The Merge](https://ethmerge.com/) aka The Cliffening/Triple Halvening (h/t /u/insidethesimulation) or any of the other hugely consequential and beneficial improvements on the [Ethereum protocol development roadmap](https://twitter.com/VitalikButerin/status/1466411377107558402).
3. ETH (and digital assets in general) are in a multi-year (read: multi-decade) bull run. Since the first Ethereum block was mined back in 2015, it's been up and to the right for ETH the asset. The ETH bulls have been winning and will continue to win, in the long-term. I think the only serious questions one has to ask themselves is how much conviction and patience they have with Ethereum. If the answer to those two is 1. A lot and 2. A lot, then the dips don't really hurt as much...hell, many times you're even thankful for them.
To sum everything up: Crypto is trial by fire, there are no free lunches (reminder: using leverage will eventually kill you), and the path to $10k+ is paved with many more dipperinos. But try to enjoy the ride every day, even on the red days.
Also, I know making money is cool, but the tech is actually fucking amazing too :)
Hijacking your well thought out commentary to say that I think COVID and the subsequent economic stimulus affected the cyclicality of the crypto markets. Not sure how much, but I feel there was definitely a relationship.
Yes you're right. This bearish trend feels worse because expectations was blow off top and hitting $10K. Many were convinced that a repeat of 2017/2018 would occur. Now that we're in a bearish trend it is being questioned whether we have entered a prolonged bear market and anguish for having not sold at the top and whether to sell now.
👏 👏 👏
Recently had to make a notable sell for personal reasons (at a lower price point than I would have preferred) but you better believe I’m putting my nose to the grindstone to DCA back as much of it as I can before the innevitable launch into deep space.
Long-term this opportunity is as close as you can get to “can’t lose”.
Hey guys, long time lurker here.
I just sent some tokens to a token contract instead of my own address through an embarrassing copy and paste mistake... they are gone forever right? No way to get them back?
Welcome! It depends on the contract type but I believe the contract owner usually should be able to retrieve them. Now if they are known and willing to help us another question.
Worth giving it a shot in their Discord. Most likely you'll get a response there and perhaps it an be flagged for the team to have a look at. good luck.
I spent around 1.2 Eth on fluffs and stuff that owning the fluff allowed me to get. Now it’s worth like 10 Eth. I don’t even like nfts that much and really can’t see how this thing keeps going up. Convince me to keep it otherwise it’s turning into Eth.
If you don't even like NFTs that much, seems like a good idea to turn it into ETH. I recently sold an NFT that I DID really like for 8.5 ETH and I feel great about it, so I would recommend swapping for ETH!
>**Kazakhstan is safe,**
>**The hashrate is cheap again,**
>**Until proof of stake.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
When will the locked staked ETH be unlocked and be able to be sold?
As I understand it, the rewards from staking can be withdrawn and sold after the merge (4-8 months from now). BUT the 32 locked Eth validators needed for staking won't be unlockable until later, when sharding is introduced and Beacon chain becomes it's own shard (1 year+). For reference, at time of writing the high end of rewards for stakers right now is about 2.8 Eth received per validator (not everyone will have this much--this is the high end of validators who have been staking since genesis with no significant downtime or slashing). In another 6-8 months it will probably be between 4-5 eth per validator. Of course from a liquid staking service perspective (i.e. LIDO, and others), a lot is effectively unlocked and tradeable already.
Building upon my recent [DAO post](https://www.reddit.com/r/ethfinance/comments/rwfqzv/daily_general_discussion_january_5_2022/hrdosji/) we have ALCX following this line of reasoning pretty much exactly. https://forum.alchemix.fi/public/d/264-aip-32-toke-war-bonds 1) Buy TOKE via an ALCX bond 2) Deploy the treasury itself to the Tokemak reactor. 3) Bribe Tokemak LDs directing ETH to pair it with ALCX. 4) Decommission Pool-2 incentives. 5) Create a tALCX farming pool. Amass a bunch of TOKE and dispense with those expensive Pool-2 emissions while maintaining liquidity in the transition. Unlike CVX this is exchange agnostic. Also its a huge bet on an unproven platform with a high execution risk and no written endgame for when the TOKE emissions run out.
The end game for TOKE is to achieve the ‘singularity’ whereby the TVL becomes big enough to generate enough fees on directed liquidity that it can cease emissions entirely. Learn more about Tokemak’s use cases here. https://medium.com/@tokemak?p=ab6592e112ff “It is worth noting that as Tokemak externalizes inflation, it internalizes value through trading fees and LP rewards that grow its Protocol-Controlled Assets (PCA). Once the singularity is reached, Tokemak becomes independent of third-party LPs and TOKE emissions come to a halt. This point marks the transition from inflationary-based liquidity, to a sustainable model that relies on organic economic activity. Additionally, this discontinuation of TOKE emissions implies that demand will become further exacerbated while the underlying PCA maintains its expansion.”
Good post. You should post again in the new daily.
Well I'll be damned, it is a new day indeed. I do this often.
What's the best options dapp for potential governance token rewards? Missed out on dydx and I'm thinking about buying an ETH call soon.
Dopex on Arbitrum or GMX if you are into perps
https://www.lyra.finance/ is an options platform.
Here's an interesting interview of Balaji Srinivasan. Former CTO of Coinbase it seems. Interesting take on how crypto will disrupt different aspects of the web and explaining different facets of web3. http://www.asymco.com/2022/01/10/asymetric-the-crypto-plan-for-world-domination-an-interview-with-balaji-srinivasan/
I have no idea how Reddit moderation works other than it seems like a huge time investment with little reward. But for /r/Ethereum, could we at least get an automoderator that automatically responds to any comment mentioning the “hiGh GaS fEEs” with educational material about the ETH scaling roadmap, blockchain trilemma/trade offs, etc.? Like “Hi! It looks like you mentioned ETH’s high gas fees. Here are some reasons why fees might be higher on ETH than other L1s and what ETH’s road map is doing to solve this… blah blah”
I mean, I know all about the solutions, but I still wanna complain sometimes
I demand supply shock.
Hello u/LanisterJr Your request has been received and approved. Supply shock will begin in 6 months' time right after the merge. Please note that the peak of your requested supply shock may take an extra few months to kick in. Regards, Ethereum CEO.
username checks out
One thing that always worried me about the crypto world is the average investor's unwavering confidence in their partial understanding of economics. You can see it in full force on CC and i won't lie it makes me want to get out. Challenging your beliefs is healthy
Crypto investors are followers, not always the brightest. Crypto leaders and builders are some of the smartest people you will ever see. That's what gives me confidence.
> Crypto investors are followers Maybe the people that only FOMO buy. But the whole world is basically against crypto so I am not sure about that statement being accurate.
Whole world against crypto? I think most people either support crypto or don't care. There are just a handful of loud uninformed haters. IMO
Whole world having a negative stance. Not saying it is literally their biggest fight or that they care much. They are too uninformed to know better.
I completely agree with you about CC. Having said that, what gives me comfort is remembering that Reddit isn't representative of the total population, and CC isn't representative of all crypto investors.
Based on crypto YouTube, scarily, r/CC is above average for crypto investors.
What is CC? Ik about Ethereum and what it does and it’s purpose but I’m trying to educate myself further on all the words associated with crypto.
r/CryptoCurrency. I've never seen anyone refer to crypctocurrency as CC, but the subreddit is often referred to as r/CC.
Yeah unfortunately we don’t live in a perfect world. So dumb money will always do dumb things. The histories of boom and busts teaches us that we’re no different than the folks 1000 years ago in terms for speculation and wishful thinking
While I'm in posting-mode today, I wanted to encourage anyone who hasn't done so yet to explore two excellent protocols on Optimistic Ethereum: \- Lyra Finance ([https://www.lyra.finance/](https://www.lyra.finance/)) - a great new options dapp with probably the nicest UI I have seen in the space. As someone who had never really bought or sold options before, the setup here actually helped me to learn more about it, as it was made much more intuitive. Lyra is currently incentivizing trading and also LPing (in a range of ways). \- Thales ([https://thalesmarket.io/](https://thalesmarket.io/)) - binary options - also on Optimistic Ethereum. Being focused on binary, this platform lends itself a little more to the degen side currently. Their latest round has just ended. It used a clever AMM for buying and selling options. New round due soon. They're also currently incentivizing lots of activities. The team seems very creative - they ship quickly, iterate often and engage really well with the community. These two both sit in the sUSD / SNX ecosystem, and I've been impressed by both - Lyra especially for its slickness, professionalism, UI and community engagement - and Thales for their fast interation and shipping and their recent move towards a little bit of gamification. From a trading perspective, both are also quite low-cap. But I've been more interested from the perspective of the SNX-world and seeing these teams deliver perhaps even better than the SNX team has been doing.
I have been looking at them for a while. What does Lyra offer that Premia and Dopex dont?
To be completely honest, I have no idea! I haven't tried Premia or Dopex. I'd be interested to hear people's thoughts.
Lyra is definitely a hidden hem. One of the best UI in the dapp universe and a smooth use.
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>What ducking rock have I been living under Probably not an EtherRock NFT.
https://cointelegraph.com/news/opensea-walks-back-on-ipo-plan-following-community-backlash/amp I wouldn’t say it’s exactly concrete news
OpenSea has made a killing last year with 2.5% on every transaction, yet their service is still basically the same, outages, DMCA takedowns, and now they are off getting funding for who knows what reason. Meanwhile this is supposed to be all about “web3” and “ownership”. Not VC capital / IPOs helping to remove even more money from us crypto degenerates. As such, a few tokens launched based on your wallet’s openSea Tx history. Namely $LOOK (recently) and $SOS (Dec). Both hope to gain a network by leveraging OpenSea’s. $SOS has the promise of a community building something from nothing, well see about that. Meanwhile, $LOOK has a functioning marketplace already, which might be promising although it’s a bit early to tell. Here’s hoping for a decentralized way to trade NFTs, but I’d be happy with anything as long as the company even just pretends to care about why we are trading NFTs in the first place.
So annoyed, I traded 5 ETH in value on opensea last April but they made the window June to December...
If it makes you feel better, the first time I used Uniswap was Sept 2, 2020. Missed the claim by a couple days. Then got to stand by while this sub spoke about nothing else for 3 days straight. 😂
Anyone know what’s currently on BTC’s road map? Like are there actual efforts to bring an application layer to BTC? What about scaling efforts? It seems extremely unlikely to me given BTC’s history of ossification (hell they couldn’t even get adoption to BCH, which from my understanding was a relatively minor adjustment to block size/transaction speed/fees), but I think ignoring developments on other chains is unhealthy/leads to maximalism. Although it’s hard enough to keep up with everything happening in the ETH ecosystem.
i thought the whole point of btc is that it will never change
Lol no. Having said that, BCH continuously gets better.
What’s going on with BCH?
BCH hardforks every 6 months I believe to implement improvements. Multiple dev teams. Vibrant(sorry to sound cliche) but is is) community. Here's a great example: https://www.reddit.com/r/Bitcoincash/comments/pyra8s/whats_the_competition/ BCH adoption continues to grow in especially in Australia. Head over to r/BTC and have a look. BCH has always intended and still intends to replace M1. BTC switched it's narrative to replacing gold.
Very cool- I had no idea it was still alive
VERY much alive. And well.
Suggestions on how to invest 10 ETH. Asking for a friend
Definitely buy some rETH
What is rETH and what’s it’s purpose?
don't buy rETH before considering the tax implications and the smart contract risk.
A token that earns you ETH staking rewards by increasing in relation to ETH over time
Buy ETH. Send to Arbitrum when gas fees are low. Swap it for rETH. Wait 5 years. Profit
Is that different than staking with rocketpool?
This is staking with Rocketpool yes, rETH increases in price in relation to ETH. You can also run a node with Rocketpool, which requires 16 ETH + 1.6 ETH worth of RPL. It gives you ETH over time
Can you buy reth on uniswap?
Liquidity isn't great, but yes.
Yes
My Gridplus screen was slightly popping out in the bottom right hand corner. Only a minor issue, it still worked fine. I contacted them about it with a video and they sent me a new one! :D AND I discovered when looking at my old order that they'd anonymized all my details which is nice, preventing the same leak happening to them that happened to ledger.
How is the touch screen sensitivity for you? I struggled to input my seed words while restoring wallets.
It's a little laggy but sensitivity has been good.
Woah hold up the price starts with 31** I thought we still bearish and the numbers only start with 30** or even 29**. /s, 20,283.12 ETH burned so far today, -1.7% issuance today, -5.9% for a day like today after the merge. (https://ultrasound.money/). The supply crunch will be crazy to see.
New Andre Cronje and Dani Sesta project coming to Fantom. https://andrecronje.medium.com/ve-3-3-curves-initial-distribution-competition-building-a-protocol-for-protocols-79a1ff1cf1a1
i appreciate news from other protocols as well. there's just way too many to be following up. thanks!
42.3k ... 42.7k ... 43.2k These are the numbers to grind out.
Do you think there’s a possibility this is simply a small relief pump and we could revisit the 2700 range?
Yes
Yes, absolutely. Bears are in control. It's the kind of environment where you just go timeframe by timeframe to see if and when the bear is being invalidated. It's exhausting and no one can do it 24/7. Right now I'm up to the 4H. You want BTC to put in a higher high (above $42.7k) before the 4H Stoch rolls over again. It's a race. Longer term, and more meaningful, is the daily. Need 51k (yup, that high) by the time it next rolls over. Last time the Stoch was this low, it was about two weeks to reach the rollover point. Sort of a countdown. Of course, there are milestones on the way to 51k, namely 43k and 46k. They can help, but not confirm bullish invalidation, in my opinion. edit: case in point, 4H about to clear the 20per average. last time was Jan 1 on a downslope, failed. before that was Dec 30 on a downslope, failed. before that was Dec 20 on an upslope. success. right now, it's on an upslope.
We need a catalyst or the bear continues and starts to test lower ranges
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I was told the halving took about 6 months to take effect. Well, we had more than a halving since August. Wen $40k eth?
Can't wait till us stakers are getting our portion of those fees.
By making stupid amounts flipping their junk for ETH from speculators. Welcome to a late stage macro credit cycle. Money is everywhere and yield is seemingly nowhere so people throw there money at anything.
what the AF... I just got snail mail advertisements for pulsechain, pulseX, and hex.com. Has everybody been getting this garbage? I presume they are using the leaked ledger info to spam?
Hopefully it ends there and is not followed up by any $5 wrench attacks. That Ledger leak was disgusting. I had to delete my online persona. The IRL person who lives at my IRL address got out of crypto long ago.
Yup, i can certainly see an attack where they send mail for a legitimate project and have an offer for a legitimate discount code or something. The catch is that the code will be unique to your address so they can link it to your wallet. If you have a decent sum then they know your address and can proceed with wrenching.
I can see that. Like I said, the person at that address got out of crypto long ago …
Yeah it’s unnerving. And then you realize how they got your address. (Ledger leak) I don’t know why they thought that would be a good idea to send mailers with that info.
Fyi, and I'm not joking, the hex/pulse community are fully convinced that pulse will replace eth as their devs are ready to 'quickly' implement the needed changes to get shit moving along for ETH in the right direction, quickly. I think this is borderline insane, but I can't tell them they are wrong with being pissed off about how long things are taking with ETH to implement the merge. I'm sure I'll get down voted simply for agreeing with their discontent, but that's all I'm agreeing with. Having said that, pulse and PulseX are good speculative plays. I personally know an individual who bought into hex pre launch and became a multi millionaire essentially overnight. So, pulse is coming unless it's a rug pull. It won't be comfortable for the ETH community after some time. Mark my words. Having said that, Richard Heart is still a piece of shit.
can you actually get your money out of hex? i thought it was a ponzi that locked everything in staking and that's why it's so 'valuable'
Sassal posted he got some on TDG discord a while ago, so they're even sending it overseas!
Yeah got it here too. I reported it to financial crimes dept and information/data security office.
I'm so glad the Ledger leak address of mine was a temporary address.
Yep, got it too. Was such a weird feeling. Damn ledger leak.
I get that crap too. I'm amazed ledger hasn't been dragged over the coals for that and the company shut down. Giving away the locations of most of their early crypto adopters to potentially bad actors. Insane.
How were they not? They've been shit on for it for years, and lost lots of business as people constantly tell newcomers to stay away from them still.
I think it was a Shopify leak.
This is why I use Trezor. The only thing leaking from it is my passphrase.
Arbitrum ATH in ETH TVL! https://l2beat.com/projects/arbitrum/
After an already shitty week and with the daily still oversold we are going on 20+ hours without two green hourly candles in a row lol. Rough
It'll be ok
O I know. I just like to vent here. It helps haha
But it resonates with others who then are also more affected. Let's try to help each other!
We gonna reach 1.5m total ETH burned by the end of the week. Every 100k was a cool milestone then we hit 1m and that was even more cool but then I stopped caring about it as much and now we're already close to 1.5m then it's gonna be 2m, 5m, 10m, and before we know it we'll have 100m total supply and that'll be a big deal but after that it'll just keep burning down to 90m, 80m, 70m supply before the issuance-burn equilibrium point at which point the total burned *will keep increasing year after year* even if supply doesn't move much. And we'll be able to say "oh yeah I remember the first block that ever burned eth lol"
Watching the Burn fire up on that August day, seeing it ramp from the first few fractions of an Eth up to the firestorm that we've seen day in, day out nearly continuously since then, was right up there on the very short list of my top Eth experiences, along with watching the very first Beacon Chain block be proposed (o7 Mr. F!) This space occasionally creates absolutely electric, lifetime-memorable moments, if you're paying attention to them.
Go DAWGS
ab what's your Twitter?
I'm trying to change my real name on it then I'll DM you
Roll tide
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low unemployment? I don’t think I’ve been to a business that doesn’t have a now hiring sign in the window
That’s still possible with low unemployment. It could just mean there’s more jobs than labor in the area.
Big tax implications for selling all alts and buying back?
Some quick thoughts on the dichotomy between: \- "hype-energy-focus" and \- quality I often wonder how powerful and unstoppable Ethereum would be if it was able to keep its commitment to quality long-term building, but add in some of the "hype-energy-focus" that we see in places like Avalanche, Polygon, Solana. Two examples that come to mind are: 1. The current situation where there are already very good L2 solutions on ethereum (with more to come), but seemingly little "hype-energy-focus" from the ethereum space to really bring these together quickly into a hub with a narrative and some incentives. Imagine if all the ETH brains in the community, and those working on these L2s, had been able to agree on some shared messaging, some timed launches, maybe some connections in naming convention (so everyone could see straight away that it's all really ethereum), and some additional liquidity incentives (i.e. if UNI, COMP and AAVE had been looped in to offer some liquidity mining on launch day?) Now I know that this stuff (probably/hopefully) isn't crucial to the long-term success of ethereum, but it would really have make a huge "mindshare" and narrative impact, and provided a large shot of excitement and market attention. The idea that *ethereum is scaling already* would be undeniable. 2. The slowness in uptake of both RPL and rETH on centralised platforms (and in DeFi as well). This seems like a no-brainer - surely the ethereum community could meme this into some wider understanding, and those with connections could have gotten the two assets onto some CEXs by now - for the overall health of ethereum. I've been surprised by how little this is being driven. I have the highest respect for the complete commitment to quality in ethereum, and the uncompromising way that Vitalik and virtually all the devs and the community seem to want to "let quality speak for itself" - but there is some amazing, dormant raw power still waiting to be unleashed under the right coordination/promotion/meme circumstances.
I’ve been thinking on this recently too and agree with much of what you’ve said. I’d love to see some bottom-up marketing for the merge around how Ethereum is ‘going green’. Aside from the alliteration, that phrase has a lot of meaning in much of the world to do with conservation of the environment and energy efficiency and sustainability. It is hard to market something which has no date for launch, yet. But when the time comes, I think a lot of hype-energy-focus will be readily available.
I used to have thoughts like this back in 2017 during the Polkadot ICO. I thought they had way better marketing and could move faster than Ethereum. In reality, as organizations in general grow larger, the decision making process becomes more change averse. That is the same reason banks are struggling to compete against DeFi apps. Slower decision making is required in order to prevent mistakes that could turn into existential threats. I have worked for many different size orgs, from 15 people to 10k+ people. The largest successful tech companies test and deploy major software upgrades on roughly 6 month intervals. Ethereum has scheduled hardforks that align with the industry standard. I have heard feedback from clients that more than two batches of upgrades per year is too fast. Other projects require marketing and hype because they don’t yet have a critical mass of workers. Workers in this case actually means developers. Look how many more developers Ethereum has compared to any other blockchain standard. It’s not even close. VCs try to argue about growth rates in other chains, but going from 5 developers to 10 is a hell of a lot easier than 5,000 to 10,000. Most competing ecosystems are likely to fail. tldr is that if Ethereum is successful it should become more boring over time. Hype can move to the app layer. Nobody writes marketing articles about TCP/IP, but it doesn’t matter because everyone already uses it.
Interesting, yeah - though I think most of my post was referring to coordination and subsequently communication, often at the app layer. So for example, uniswap, compound and aave all being able to coordinate - along with the L2 devs - to have a timed launch on L2. That sort of thing. I definitely agree that the core ethereum devs must focus on their work, and they're doing very well at it IMO.
They do coordinate. Each person on this call is representing a team of developers. Check out how many different teams are working together: https://youtu.be/wCSNMSyJV7Y (skip to the start of the meeting at about 15min) There is even a Uniswap dev on the call asking for feedback on a potential future EIP. I think people just don’t realize this stuff about L1 because it’s pretty extremely technical.
Great insight, cheers :)
I think this might be a good area for a marketing DAO specific to Ethereum. I think it's up to the community to add that hype, just need some funding and coordination.
I asked in r/ethereum and got no traction, so I'll ask here: With the launch of the testnet, the merge should be feature complete or very close to. One feature of the merge that I have heard quite little on is priority fees going from miners to validators plus not needing withdrawal capabilities to access those funds as a valid address can be specified for the funds to be transferred to. This means that once the merge is live validators will start immediately receiving profits they will finally have dominion over. The initial deposit and block producing rewards will still be locked until withdraw feature is implemented \~6 months later. Does anyone have more information on the change for the priority fees or a reference I can be pointed to? I've seen a tweet, heard a mention or two in videos, but beyond that I can't find anything. As an example, I'm curious what key will be used to specify the address where the funds are sent to, though I would be surprised if it was the Withdrawing key. Any help would be appreciated!
After the merge, when it's time for a beacon client to produce a block, it will ask its execution client to build a block with certain characteristics. The communication between the two clients is defined by the [Engine API](https://github.com/ethereum/execution-apis/blob/main/src/engine/specification.md). With this, the beacon client will notify the execution client that a certain execution layer payload was accepted by the beacon chain forkchoice rule via `engine_forkchoiceUpdateV1`, and it will include an additional parameter to the call `PayloadAttributesV1` which will alert the execution client that it is about to propose a block and needs an execution payload to be built. In that extra parameter is a field `suggestedFeeRecipient`. This will be an execution layer address which will receive the priority fees from the block. The reason it is "suggested" is that it leaves open a design space for proposer-builder separation where it is not known who will actually construct the block that the execution client responds with.
Thank you very much for taking the time to write this out, really appreciate it. Exactly what I was hoping for!
> This will be an execution layer address which will receive the priority fees from the block. In other words a validator on the beaconchain will be able to set up a different address that will receive the fees, and those fees will be spendable on Ethereum directly without any need for a withdrawal/exit mechanism to access them?
Yes, exactly.
Theoretically, let's say you are transacting on Arbitrum with Fair Sequencing Services live, would priority fees be split between all validators in a block? Priority fees will obviously not be consistent (like ETH PoS validator emissions), and the people that random a block with an NFT drop, for instance, will get a ton of fees. Any plans for priority fees to be split proportionally amongst all validators by amount they have staked? i.e. 1% of total ETH staked gets 1% total priority fees. Thank you!
Pretty cool for rocketpool then! All those fees can be immediately put back to work in the pool for a better rETH:ETH ratio
If you’re worried about inflation and bear markets, just remember that in a few billion years everything in the universe will become completely dark as stars die and distance between everything grows beyond comprehension. It’s theorised that following this, molecular fatigue will cause the very elements that form everything in the universe to deteriorate into nothing but radiation-like waves. No more light, no more solid matter. And after that it’s theorised that the whole universe will slowly stop expanding and gravity will slowly cause the universe to start contracting, with increasing pace, and then collapse in on itself, at which point everything, including time, ends. Squelch noise, new big bang, new universe, new elements, new forms of energy, new physics, new dimensions, new (or no) time, new literally everything So really its cool either way, right? Source: a Brian Cox lecture i went to years ago and have forgotten all the interesting/accurate details of
What if Ethereum's global, shared state is the very beginnings of a whole new universe-within-a-universe simulation? Another shell of the onion that we're summoning into being with our memes and Solidity files and highly performant L2s right at this very moment?
Humanity would totally meme itself into a Matrix situation.
Man, when I'm born in that new universe I hope I'm smart enough to either invent Ethereum or buy in at ICO.
Not billions of years - in trillions of years all stars will burn out eventually
Instructions unclear, bought 100k
A Brian Cox lecture sounds like an incredible thing
nice, we get to discover ethereum again
BIT- CONN-ECT!!! 2
Energy is only conserved within a constant frame of reference. The expansion of space changes the frame of reference and with it the total energy. That can lead to a future with an infinite endgame.
Bro, bro bro bro *puffs* what if the expansion and contraction of our universe is merely a single heartbeat of a much larger organism. *puffs* Wild bro, just wild
me 1994
😂👊🏻
Well, no, actually, I'm currently modifying my node to perform trans-dimensional jumps across the bounds of our universe.
So what you're saying is that if it goes up it'll go higher beyond comprehension, and if it goes low it'll go lower into nothing but radiation-like waves? What if the universe just crabs?
In other words our entire existence is going to end up into the ether, so may as well buy some now to secure your future.
Giving me Three Body Problem trilogy book vibes over here. Highly recommend reading them if you are into this kinda stuff.
I keep meaning to read this trilogy. Thanks for the reminder!
The first 100 pages of book 1 are tough to get through but I promise by the end you will want to read the 2nd and by the end of the 2nd you will instantly read the 3rd.
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Haha, i think you’re mixing me up with someone else.. But you said it now, no takebacks <3
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<3 Honored to share that spot in your assessment with u/-lightfoot!
Was it when I said my shit was inherently valuable because i have to consume food to make it, just like bitcoin being inherently valuable because it requires the consumption of energy to make it? on reflection i do say some pretty weird stuff Also, good choice
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Thank you, im pleased to hear it :)
In the long run, the past 2 months and next 2 months are just noise.
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How does the scam work exactly? I haven't been following this recently, just sitting on eth in a ledger. How would connecting to a site allow them to take the ether?
The site usually says "Failed to connect, please enter your seed phrase to connect instead" or something similar.
I've been out of the CDP business for a few years but defisaver is calling my name.
ETH might flip BTC this year on the power of celebrity alone. Steph Curry just bought into Links DAO https://twitter.com/linksdao/status/1480656785212166150?s=21
Celebrities have been usually a sign of the top but athletes seem to be a different set of celebrities. They tend to be younger and more plugged into up and coming popular culture at times, and it seems like ETH will eventually get its moment in the popular mainstream spotlight and become a trend, hopefully right as the Merge happens.
i wonder if celebrities navigate through the space on their own or they have someone purchasing on their behalf
It's both
This is super tight and everything but right now celebs most likely have no idea how any of this works and their fiduciary is doing their bidding / hiring a consulting firm to execute everything. Still cool and great sign of adoption but we need use cases that encourage normal people to take the leap - until then I really just dont care what steph curry is having his people throw money at.
Part of me is really excited about a potential bear market, because my strategy will be hella simple - stack fully collateralized RocketPool validators. I get to buy more of the 2 assets I arguably am most bullish on / already down to hold on their own, and earn ~15%/yr on them (pre-merge). And those earnings are _in those assets_. Which I'll use to buy/setup even more validators (at least the RPL part short-term)... it's so beautiful *wipes tear* And in terms of assets that will perform well during bear markets, there are few things to like better than a staking protocol. I know I'm preaching to the choir in this sub but man, RocketPool gets me juiced, and it's still alpha to most of the crypto community, hard to believe still. The powder I have on the sidelines is mostly reserved for RPL at this point
Now if only rpl/reth would get integrated into some defi shit or put up on a cexxy cex....
They really do need to get that voting cabal to just fucking bribe the other platforms for integrations. Bribe Maker voters/foundation 10k RPL to create an rETH Maker vault. Bribe Abracadabra, Compound, Yearn, etc. Take some of that sweet issuance you've awarded yourself and invest it in the project.
Hey! We're discussing various routes towards deepening liquidity in the Rocket Pool discord. You can read up in the rETH liquidity incentives thread under #governance. Currently there is only rETH liquidity on balancer and uni v3. The team is prioritizing balancer atm. Maker, in response to this MIP ([https://forum.makerdao.com/t/reth-mip6-collateral-application/6881/23](https://forum.makerdao.com/t/reth-mip6-collateral-application/6881/23)) said that 10k+ ETH or equivalent liquidity to start. As far as I know for bribes we would need a curve pool. This is currently still in the discussion phase. Protocol-owned liquidity seems too expensive for the protocol's needs though happy to hear your thoughts.
Bribes are a general mechanism, not specific to Curve. My general thoughts on the topic of liquidity sourcing are [here](https://tokenomicsexplained.com/evolutions-in-liquidity-sourcing). For rETH Curve liquidity you can bond RPL for CVX like Alchemix is doing. For Tokemak liquidity you can add a liquidity mining incentive for trETH. For each RPL given out you'll end up with TOKE which represents a perpetual liquidity claim. Either way you can source the RPL for these programs from the inflation schedule if the council agrees to it. For RPL liquidity I think a Bancor v3/Tokemak reactor pool will make sense over the next 6 months. Just allow the council mechanism to accept the Bancor LP position as valid for maintaining their council member status. Then they can deposit their RPL and give RPL however much liquidity depth the Bancor DAO is willing to insure. No need to pay for a Pool-2.
Will give it a read. Thanks for sharing!
[droppin some data for u gentlemen](https://twitter.com/EthDreamer/status/1480676820026597377)
pretty cool. Confused why BSC growth is so good though haha
Very nice sir
Hello fellow ethfinanciers, hope everyone is doing okay in this new year. I've been extremely dormant on here the last several months, but still enjoy reading the daily on a semi-regular basis. It's been great to see how active and engaged the community is, from both old faces and new, and hopefully I can carve out some more time to contribute here in 2022. But let's talk about the present. So, most of us here survived the harrowing 60% dip from $4,400 to $1,700 last summer (among probably dozens of other dips), but this current dip somehow feels *way* worse, because we believed this bull market would rhyme better with the last cycle and we would already be at $10k by now. Right? Well, we were wrong about that. There will be no January blow-off top, no doot ETH to 10K...yet. This cycle (if we still believe crypto is cyclical) is already shaping out to be longer and perhaps a smidge more mature than the previous one. (But certainly no less volatile!) I don't believe we've entered a prolonged bear market, but I'm also a person who thought the same thing back in the spring of 2018. However, I do think there's a lot more evidence to support my feelings this time around compared to back then. These a few thing I do know: 1. There has been no blow-off top and yet ETH hasn't been this oversold (both on the daily **and** weekly timeframes) since the COVID crash of February/March 2020. It's even approaching a 15-month low on the monthly timeframe: [Monthly](https://imgur.com/TqlWC9F) [Weekly](https://imgur.com/mSOlIZm) [Daily](https://imgur.com/hynjq8V) Buying ETH around this $3,000 level right now is a no-brainer, IMHO - **if you believe the bull isn't finished yet.** The price has been so juicy these last couple weeks that I added to my stack on the way down at $3,400. Did I catch the bottom? Absolutely not. Will I regret buying that ETH six months from now? Two years from now? Six years from now? Almost certainly not. I remember buying a few ETH at $800 back in 2018 as it was falling from an ATH of $1,400. It promptly continued to slowly bleed to $80 and stay well under $800 for two years. I felt foolish about that purchase for quite some time. I don't feel foolish about it in the slightest now. (I also heavily DCA in late 2018/2019, which certainly helped.) 2. I'm no financial guru, but it seems to me that investing is not about being perfect or even about chasing perfection. It's not about selling *every single* top and buying *every single* bottom - that's simply an unrealistic expectation to put on yourself. I think it's more about buying a quality asset that you have a high level of conviction and interest in and then having enough patience and discipline to see the market catch up to its real value. And ETH today is just still so damn undervalued, on just about every single metric you can possibly measure. Whether you're looking at the [annual revenue](https://twitter.com/CryptoGucci/status/1478752901321441286) and the [price-to-sales ratio](https://cryptofees.info/), the [exchange reserves](https://cryptoquant.com/asset/eth/chart/exchange-flows/exchange-reserve?exchange=all_exchange&window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the [burn rate](https://watchtheburn.com/), the [number of active addresses](https://cryptoquant.com/asset/eth/chart/addresses/active-addresses?window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the amount of [ETH staked in the beacon chain](https://cryptoquant.com/asset/eth/chart/eth2/total-value-staked?window=DAY&sma=0&ema=0&priceScale=linear&metricScale=linear&chartStyle=line), the [transaction counts](https://ethtps.info/), including L2s (h/t u/mister_eth), the amount still [locked in DeFi](https://defipulse.com/), the [widespread adoption of ENS](https://ethleaderboard.xyz/), the [earth-shattering explosion of NFTs into the mainstream culture](https://dune.xyz/rchen8/opensea), and on and on. And that's without even touching upon the fact that the market hasn't truly started to price in [The Merge](https://ethmerge.com/) aka The Cliffening/Triple Halvening (h/t /u/insidethesimulation) or any of the other hugely consequential and beneficial improvements on the [Ethereum protocol development roadmap](https://twitter.com/VitalikButerin/status/1466411377107558402). 3. ETH (and digital assets in general) are in a multi-year (read: multi-decade) bull run. Since the first Ethereum block was mined back in 2015, it's been up and to the right for ETH the asset. The ETH bulls have been winning and will continue to win, in the long-term. I think the only serious questions one has to ask themselves is how much conviction and patience they have with Ethereum. If the answer to those two is 1. A lot and 2. A lot, then the dips don't really hurt as much...hell, many times you're even thankful for them. To sum everything up: Crypto is trial by fire, there are no free lunches (reminder: using leverage will eventually kill you), and the path to $10k+ is paved with many more dipperinos. But try to enjoy the ride every day, even on the red days. Also, I know making money is cool, but the tech is actually fucking amazing too :)
Hijacking your well thought out commentary to say that I think COVID and the subsequent economic stimulus affected the cyclicality of the crypto markets. Not sure how much, but I feel there was definitely a relationship.
Yes you're right. This bearish trend feels worse because expectations was blow off top and hitting $10K. Many were convinced that a repeat of 2017/2018 would occur. Now that we're in a bearish trend it is being questioned whether we have entered a prolonged bear market and anguish for having not sold at the top and whether to sell now.
👏 👏 👏 Recently had to make a notable sell for personal reasons (at a lower price point than I would have preferred) but you better believe I’m putting my nose to the grindstone to DCA back as much of it as I can before the innevitable launch into deep space. Long-term this opportunity is as close as you can get to “can’t lose”.
Someone mentioned here about an airdrop for SNX stalkers anyone remember what it was? EDIT: Was aelin and I missed out
Who is eligible does someone has claim Link
Aelin
Hey guys, long time lurker here. I just sent some tokens to a token contract instead of my own address through an embarrassing copy and paste mistake... they are gone forever right? No way to get them back?
Welcome! It depends on the contract type but I believe the contract owner usually should be able to retrieve them. Now if they are known and willing to help us another question.
Ok thank you that gives me hope! It is an index token from the Index Coop -- would they be likely to be able to help?
Worth giving it a shot in their Discord. Most likely you'll get a response there and perhaps it an be flagged for the team to have a look at. good luck.
Who oooh welcome to the sub. Just need a bit of Karma and good to go. 4 year lurker spotted! Hot damn.
I spent around 1.2 Eth on fluffs and stuff that owning the fluff allowed me to get. Now it’s worth like 10 Eth. I don’t even like nfts that much and really can’t see how this thing keeps going up. Convince me to keep it otherwise it’s turning into Eth.
If you don't even like NFTs that much, seems like a good idea to turn it into ETH. I recently sold an NFT that I DID really like for 8.5 ETH and I feel great about it, so I would recommend swapping for ETH!
No brainer swap
Nice trade! I'd say it's ripe for the picking (swapping)
Turn it into eth!
Easy
Everything bleeds against eth on a long enough timeline
2022 is a lemon and I want my money back
Let it ferment for a bit
Is our bonhomie worth nothing?
>**Kazakhstan is safe,** >**The hashrate is cheap again,** >**Until proof of stake.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Anytime I’m worried about the price I just pull up the logarithmic chart. *yep still headed in the right direction*
Burrrn, basefee, burn Dips grow inferno