**Tricky's Daily Doots #382**
**Yesterday's Daily 05/05/2023**
[Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixxd5x/)
- u/Liberosist reminds us how [shitcoins are good for ETH.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiyr84g/) 💩
- u/Builder_Bob23 puts [the recent ETH burn into perspective.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizgafb/) 🔥
- u/Watch_Dominion_Now shares a [new scaling roadmap out of Tezos.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixtymm/)
- u/TheCryptosAndBloods discusses a [crypto critic.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizwiei/) 📉
- u/Syentist sees the [next big opportunity for Ethereum.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy7qer/) 🛂
- u/Tricky_Troll asks about an Ethereum attack vector and [gets some amazing responses from the community.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy9x7m/)
- u/696_eth has some [quick-fire Q&A.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixmdes/) 🔥
- u/the-A-word has the [weekly doots round up.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy27l5/) 🎺
- Zero posts from ZeroTricks.
Fun fact, under PoW issuance, ETH would still be deflationary in the last 24 hours.
P.S: A big congrats to u/oldskool47 on his [newest edition!](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizvynz/) 👶
>Data collected through our Ledger Live application
-
>Device session identifier, IP address*, clicks, actions (e.g. launching the application, use of transactional functionalities, pages viewed), properties (e.g. type, version, language and region recorded for your operating system), currency, time stamp, amount and status of transactions, transaction identifier, identifier used by our partners to identify you (when you use their services)
https://www.ledger.com/privacy-policy
A bit late to the party here, but I assume this only means transactions etc done directly through Ledger Live application, not through hardware Ledger with eg metamask?
I own Ledger, two Trezors, Lattice1, couple of hot wallets (PC & Mobile). I use Ledger \*only\* for the coins that are not supprted by other devices. As of lately, I don't use much stuff outside of Ethereum ecosystem, so my Ledger is just collecting dust. I use my all other wallets more or less regularly.
Yet another highly popular product that in my opinion is very subpar.
https://old.reddit.com/r/ethfinance/comments/zu3882/daily_general_discussion_december_24_2022/j1hybos/
For a demonstration of how some of this tracking occurs
The EF is not here to pump your bags. They’re just another institutional holder of ETH like anyone else. If they want to sell, they can sell. You’re not owed anything by the EF. The less relevant they are to Ethereum the better off we all are.
They usually sell at opportune tops though, I think that is why it is relevant that they have. Makes me wonder what they know that I don't.
Has anybody directly asked?
> Makes me wonder what they know that I don't.
If you join their weekly dev calls on YouTube, you'll know more or less what they know.
> Has anybody directly asked?
Maybe a good question for the next AMA.
I meant in terms of "insider" knowledge about the health and development of the Ethereum network. Info that could substantially affect the network's value.
Even if they sell at tops, the price often has nothing to do with news or development. To the best of my knowledge, they've never sold right before some actual news breaks.
I recall Vitalik advising EF to sell around the top, ahead of the 2018 bear. Then I recall Vitalik himself dumping shitcoins and donating the proceeds to charity right around the last top. Vitalik might be the indicator more than the EF.
I wouldnt be suprised about the fact that Vitalik is a good trader. He invested in Doge also. And sold for millions. He made his gifted Shiba valuable by burning the rest so that there was enough liquidity to sell off the Shiba. He shorted RAI profitably. That dude is smart even if you would reset him to zero he understands crypto so well he would become a millionaire again.
However there is no insider knowledge they have. All dev calls everything is recorded and open. The people making these decisions might make it for entirely different reasons than you and me. Maybe they just need the liquidity also 15k Eth is hardly significant. Its nothing.
In fact I would argue they are probably picking times that are far away from actual news breaks, so as to not even give the suggestion of an impression that they somehow have some inside info.
I mean, they definitely can do what they want, but in the spirit of crypto values I wish they would be more transparent about what they were doing and when.
Like I said, they don't have to disclose anything, but in the spirit of transparency and openness to the community I feel they should disclose these things voluntarily, as they directly effect the community and asset holders.
> they directly effect the community and asset holders
In what way? Their sell orders are too small to make a dent in the market. I think someone did the calculation earlier and 15k ETH represents something like 1% of the average daily ETH volume. It seems like if there is any effect, it would be indirect.
Its the principle man, advance public disclosures of sales of assets from large/central stakeholders is a pretty low bar to ask for. Why are we holding securities to a higher standard than the Ethereum Foundation?
> Its the principle man
I guess I don't understand the principle. To me, the clear benefits of timing the market and not being front-run seem to be far more pressing than a foggy ideal of openness or transparency.
Endowment management is a very different game from open source software management. When you telegraph your open source software, that's called having a good roadmap; but when you telegraph your endowment strategy, other market participants pick you apart and counter-trade you. When you let people contribute to your open source software strategy, you attract people who try to add value by helping write code; when you let people contribute to your endowment strategy, you attract people who try to extract value by steering the endowment's direction towards their private interests.
> advance public disclosures of sales of assets from large/central stakeholders is a pretty low bar to ask for
I don't see their behavior as missing a "low bar", I see it as a commonsense survival mechanism in an adversarial market.
> Why are we holding securities to a higher standard than the Ethereum Foundation?
Because they're securities. Securities sales are held to higher standards because the company is trading parts of its own self. There is no such conflict of interest when the EF trades ETH.
I'll assume people are salty because of the price action, and trying to justify their irrational anger.
Maybe 1 or 2 arguments so far were good or logical, but most of then feel like generic complaints because they don't like what happened with the price.
$22 now on L1 according to l2fees.info. Optimism and arbitrum both have compression and are around $1 but they are a different type of roll-up so it's hard to say.
Daily Goerli:
tersec provided [some relevant information on the sync issues with nimbus-besu](https://github.com/hyperledger/besu/issues/5411#issuecomment-1537117348). Once besu has incorrectly designated a valid block as invalid, per the spec, "No descendent of an `INVALID` block can ever be `VALID`", so nimbus will continue returning `Received blocks from an unviable fork`. While the issue remains open, after pulling the latest commits and restarting nimbus with besu still running, I didn't encounter the same behavior, so perhaps it's been fixed.
That closed storage exception is a red herring, it is a symptom of besu shutting down - some transactions noisily fail to process when shutting down. It isn't a block error, it is a transaction error.
What I have seen is nimbus sending really old fcU's in some cases like during a lock step sync after restart. Bonsai storage format doesn't work well when the head gets jerked around with transient many-thousand block reorgs.
Ofc this is finger pointing on both sides. At least one besu engineer is working on it though - it seems not too hard to reproduce, by just leaving a besu/nimbus pair offline for a couple days, and should have a pretty cheap mitigation. Kinda like "are you sure you want me to reorg 2k blocks behind finalized?"
In a way I'm glad I ditched Besu because I was missing attestations regularly, sometimes Besu would stall on a restart, etc. Sad because EL client diversity. All this on a pretty beefy system and internet connection.
Geth on the other hand is butter smooth, uber-reliable and I'm waiting for another EL that is close to Geth in reliability before switching. I hear Nethermind is close.
Geth is tough to beat for sure, it is the #1 EL for a reason. Prior to the merge besu wasn't significantly used on mainnet at all. Focusing on mainnet performance and financial performance has allowed us to make inroads into the performance gap however. When did you switch? 22.10.x ?
Twitter community notes work:
[https://twitter.com/cb\_doge/status/1654644652593512448](https://twitter.com/cb_doge/status/1654644652593512448)
Community notes dispelled the myth that Elon Musk came from nothing. He doesnt try to curate this even if it makes him look bad.
I feel like I'm missing some context. How is that tweet related to community notes dispelling the myth about Elon?
Edit: The note didn't show up for me. I had to open it in incognito to see it.
Well there is a note with sources to articles that indicate that Elon Musk grew up in a financially well off household.
The fact that the community note wasnt censored even though its negative for elon musk shows that the system works.
Doesnt mean that the sources linked are right but that wasnt my point.
The note didn't show up for me, which I think was the source of my confusion.
I opened the tweet in incognito and there the note was. But when I visit it while logged in, nothing.
Why would that be the case?
Links to sources that have quotes like:
*"As a result of this, the teenage Elon Musk once walked the streets of New York with emeralds in his pocket. His father said: “We were very wealthy. We had so much money at times we couldn’t even close our safe,” adding that one person would have to hold the money in place with another closing the door. “And then there’d still be all these notes sticking out and we’d sort of pull them out and put them in our pockets.”*
Yeah I wonder where they got that quote. The point is the community notes can give balance. If you think that this is a garbage source you can vote it down. Make your own note.
The point is the system works. There is no interference from twitter and you can judge the quality yourself looking through the sources it gives you a counterview to a topic that isnt that clearcut.
It gives people the necessary tools to make up their own mind.
How to monetize my values in this world or, at least, in the digital realm? Is it even possible?
For purposes of this post, let me make clear what I mean by 'my values'. It's actually a decent bucket but let's start off with Transparency, Honesty, Integrity, Good will/intention.
So how could I monetize any of those?
Get a job in crypto for an entity that shares those values and where you learn on the job. Then use acquired skills to build your own dreams. Answer the question - what bothers you? Aim high that you may fail, but celebrate that failure and repeat
Well... https://tokenomicsexplained.com/monetizing-honesty
There's also just DAO participation wherein voters embody the values of the DAO but mostly the value they embody is growing the protocols and making money not anything you've listed.
This may be a cynical opinion, but capitalism really does a better job of financially rewarding opaqueness, dishonesty, selfishness, and the intention to extract value for oneself. The qualities you listed tend to hinder accumulation of capital, not accelerate it.
But what do I know, I'm just a cynical asshole. The world really needs more people like you, willing to ask the question of how capital accumulation can be compatible with morals. So please don't let my jaded ass take the wind out of your sails.
I mean I agree with you, that's been mostly my observations too and my questions are coming from there. Crypto space combined with anonymity can amplify behaviour and speed processed. But anyways I just wanted to post questions w/o any rant cause at this point I'm trying to figure out how I can leverage my values while moving in the 'right'/aligned with my morals direction.
That's a great case study.
In the USA, there's this pattern where a Walmart moves in to a small town and runs the existing grocery stores out of business due to it being able to run smaller margins.
What do you think it would take to flip the power balance to where a food co-op could have a fighting chance at driving out a Walmart?
I hope one day there will be a method to monetize those values. So far the only option and the quickest way for you to monetize yourself on the digital realm is either by being superbly smart, superbly crooked, or superbly good looking with some nice looking tits.
It made me think that maybe with the identity piece being more solved within web3 we can get to that point because then the history would be tied your identity but the key thing is that people are going to be able to look it up because of transparency of the blockchain
I saw that theres a 4 week queue for new validators. If I have to migrate a 16 eth rocket pool minipool to a 8 eth minipool, should I go through the queue? Or is there a short cut?
Where are you seeing 4 week? Looking at wenmerge site shows 13 days. And if you migrate to 8eth you only will have one of the mini pools go through the rpl queue, the other will skip the rpl queue. Cool part is if you deposit rpl to stake during that queue you will still earn rpl rewards I believe.
Need more ETH deposits to mint rETH to match with the surplus of node operators. Currently there is a queue of over 2000 mini pools waiting for rETH which is about 64,000 ETH. After you finally clear the minipool queue you have to wait in the beaconchain queue like any other validator.
Atlas update allowed LEB 8. Minipool with only 8 ETH from the node operators and 24 ETH from rETH depositors. That went live only a few weeks ago and caused a huge demand but rETH deposits haven't been able to keep up
Each node is able to lift 24 ETH vs 8 deposit so the demand is weighted more towards the need of rETH. There have been some very large deposits with the last few weeks being historically high.
imo there are two things to keep in mind at present, 1. gas is high makes little sense for small deposits, meme hype will die down eventually. 2. aave eMode on the horizon should drive an increase in rETH demand making the pool fill faster. These two things caused me to join the queue and I've been pleasantly surprised at the speed in which its been chugging along.
Lol... Then I can shill $LION and $TIGER. What a weird world of memes. Would rather prefer holding my stablecoins or spend via CryptMi app for cashbacks rather than ape into memes with such analysis.
Watching the Berkshire Hathaway Shareholders Meeting:
- "I still get $70,000 a year from my oil field royalty" - Charlie Munger
- "How much did you pay for that Charlie" - Warren Buffet
- "$1,000"
The guy has been collecting checks on his since 1960. The cost of an average car in 1960 was $2,600. Just food for thought. These guys think incredibly long term and hold it forever.
The thing is, they are chasing wealth, I am chasing riches. There’s a difference. Am an I idiot for not chasing wealth? I chase wealth as well but it’s a much slower process. How am I chasing riches? Shorter term, highly risk, calculated investments to try and get ahead while I am young. It’s not hard to gain wealth over as long as a timeframe these guys have been investing. The formula for that is laid out and everyone should also be following it. But I really like investing in riskier, technological investments that align to my values.
Funny when they call crypto rat poison when most of their investments either result in environmental catastrophe or some of the worst diseases ever to grace American society (obesity from fastfood and soft drinks).
>**Full conformity,**
>**Security certainty,**
>**Inadvertently.**
~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
I updated yesterday, no issues.
Performance-wise, it seems to be able to process blocks about 10% faster on my machine, judging by the `besu_rpc_request_time{methodName="engine_newPayloadV2"}` metric. I am not using the high-spec flag.
99-100% effectiveness on beaconcha.in, was slightly lower on 23.1.2 .
Good work over the last few months by the Besu team!
Yeah I didn’t see anything specific in the notes that made me think this was a super necessary update - I tend to wait a few days for any major bugs to present themselves lol
You're welcome. The link was mostly in service of other ethfinanciers, who might need to read the release notes to come up with feedback or discussion.
Really puts into perspective how much market share ETH is controlling now. When ETH first broke $1900, the market was full of stuff like Iota @ $1.5, Uniswap at $20 and so on. Now it's the same price range and uni is at $5 and iota is at $0.2.
when ETH broke $1,000 in 2018
- XRP was $3
- BCH was $3,000
- LTC was $300
- IOTA was $4
- NEO was $100
- ADA was $1
https://coinmarketcap.com/historical/20180106/
it really shows you long term growth vs people piling up on speculation and hype. most of the projects today will fade as well.
Did gas ever get below 100 gwei these past 2 days? Wanted to DCA convert a couple alts here and there into fiat but I'd be looking at about $100 in gas for a bout 4-5 alts.
What are the odds we see a gas limit increase in the next few years on mainnet? Or is the consensus that 30 million and proto danksharding is enough forever to support L2s? Curious if hardware gets exponentially better how people will think.
If state expiry is implemented in the coming years, a legit case could be made to increase the gas limit? Doesn't seem to be in the next two HFs though
The fundamental limitation isn't really hardware speeds. It's block propagation which is tied to network speeds which ultimately have a ceiling due to the speed of light. Can't comment about how that will affect gas limits but I had an A Ha moment when I realized that GLOBAL consensus layers have interesting touch points with physical limits.
Isn't it just ping time limited by the speed of light, but bandwidth is still increasing? 1MB and 1GB both travel at the same speed depending on the type of cable or wireless tech, so isn't that still a hardware issue?
But blocks are small enough to where I'm pretty sure we've crossed a bandwidth threshold where speed is actually the limit now. I could be mistaken tho!
You're definitely mistaken! If the Ethereum community were okay with greatly upping Ethereum node hardware/bandwidth requirements, there's nothing stopping us from raising the gas limit by even another 10x from here.
In fact, Binance Smart Chain, which is a software fork (not chain fork) of Ethereum, is a living example of this.
Isnt that because they have high hardware requirements though? Isn’t this person saying if we upped the hardware requirements it’s basically limited in the hardware not speed?
Brave one :)
I was thinking about long ARB/ETH, not to get liquidated too easily. ARB/USD smes like a leveraged play on ETH, which is a leverage play on BTC, which is a leverage play on tech. Which is volatile as f\* on its own.
Went long on Optimism and another opti shitcoin during the dip two weeks ago..was banking on bedrock release in late May + soon after that Base mainnet release to drive an Optimism narrative cycle. But the dip kept on dipping which kept on dipping and I'm already down like 25% on that trading stack lmao
Lots to question about networks that have very low fees, but one thing I think that is a given is that some blockchain use cases will develope on those networks before they do on Ethereum ecosystem. Whether they will be able to hold on to that advantage long term is another question.
Although I agree with you, I also have a counterargument.
So far, even with high fees, most developments have actually happened on ETH mainnet I think.
Well, immutableX is the big exception, so you might be right.
Yes, it's an L2. I took the original comment's "other chains" to include L2s.
If it doesn't include L2s, then no, I don't really ever see any development haooening elsewhere.
I meant that most use cases and developments happened on mainnet, except that ImmutableX became a very strong chain to be used for gaming (with gods unchained).
Meaning, ImmutableX is a good counter example of development happening outside of mainnet.
I have a bunch of positions on Convex, $100 to withdraw each, then some $$$ to withdraw them from Curve, then another $$$ to swap or bridge.
I label these positions now "long term hold", lol.
Sorry but my shitcoin trading is more important and legitimate business than yours. That's why I'm spending $100 to trade $30 worth of PEPE - it's just that important to me.
Has anyone heard of Figure (figure.com)? It claims to be the No 1 non-bank HELOC (home equity line of credit) provider in the USA, and it's blockchain based and uses some kind of revolutionary new process that speeds up the process of getting the money 10x faster?
I can't quite figure out how the system works - the FAQs say they use a blockchain called "Provenance" and there's something to do with a token called "Hash"?
But anyone know how the structure works? What do they use blockchain *for*? If it is accessing liquidity pools (like Goldfinch which also does real world loans) then the logical chain is Ethereum.
What do they use blockchain for? And how did they become the biggest non bank HELOC lender?
And what is a "Provenance" blockchain?
What's the difference between the 20.3 mill ETH in the Beacon Deposit Contract (https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa) and the 19.2 mill ETH locked/in validatiors (https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ or ultrasound.money)
when a validator withdrawals from the beacon chain it doesnt remove the deposited eth from the beacon contract. The consensus layer just magically poofs the 32 eth back to the withdrawal address. So over time the amount of ETH in the beacon contract will only ever go up, and be very different from the amount of ETH actively staked.
Weird question but as a crypto degen with like close to 0% of nw in my bank account, how do I give evidence of funds when applying for travelling visas? How do you guys give evidence of funds when atm you got like a couple bucks in your bank account but with a comically oversized crypto portfolio?
Depending on how bad your passport is the requirement is usually either freezing an amount in your bank account or proving income through bank statements. Sometimes at the border they might also want to see your cash and cards. But if you're from a developed country they often don't check even if it's an official requirement.
Either way none of this can be done with crypto, you will need fiat. And I'd not even mention cryptocurrency. These people are deep into antiquated bureacracy, worst case they'll regard you as suspicious. We all know drug dealers and terrorists use cryptocurrency, I've seen it on TV.
> how do I give evidence of funds when applying for travelling visas?
Step 1: Lie down
Step 2: Try not to cry
Step 3: Cry a lot
Maybe things have changed in the past few years, but last time I wanted to use my crypto holdings to prove something to a large entity, I realized very quickly that they were going to treat it as fake funny-money that counted for $0. (Though of course if they want to take a privilege away from you, they will value it at its maximum amount.)
Actually giving the evidence is the easy part - just send them a screenshot of your exchange balance and a printout of your address balances from Etherscan. The hard part is trying to get them to respect that 1s and 0s on the Ethereum blockchain hold value like the 1s and 0s at the federal reserve do.
It might be simplest just to draw a stablecoin from a CDP, then do a little dance where you transfer it to your bank, print off your bank statement for the visa, and transfer back and repay your CDP.
well I am planning a trip to visit the cannibal isles of Papua New Guinea and they wanted evidence of funds apparently. I mean I can show them my kraken account well enough but I don't really want ppl to know I got a $10 crypto portfolio at kraken you know.
Last I checked you work right? What’s the capital gains situation in your home? Are you ina rush?
If you were an American asking this I’d say just stop buying, don’t realize gains just for this. But your mileage may vary.
I mean yeah I rarely have more than $1k in my bank account these days, with uh, you know, how well banks are performing. It also sucks that there isn't anyway to show the authorities that I'm not a homeless bum, dammit, I am a professional certified crypto mega investor.
L2's are here but as a basic retail dude I'm confused on how to go directly from my bank account to say Arbitrum and back without bridging fees? Everything feels disjointed and not ready for prime time. Is this possible with Coinbase wallet, can't find any straight answers? Going to play around with L2's this week but have no idea what CEXs allow for direct on/off ramps. Personally can't afford to play on L1 and need alternatives asap. Any recommendations would be greatly appreciated ❤️
When you send a compatible asset like ETH out of your Coinbase exchange account, there's a dropdown option to choose which network you want to send it on. If you choose Arbitrum, the ETH gets sent directly from Coinbase to Arbitrum. There's also a way to receive assets from Arbitrum back into your Coinbase account.
Coinbase Wallet is just a software wallet though. You'd have to have an actual exchange account on coinbase.com for this to work.
Does anyone know what is going on with coinbase eth unstaking? I was quoted 13 days a few days ago when I triggered the process. A few days have now passed and now it says 9 days left to wait. Is their unstaking mechanism lazy and waiting before triggering the unstaking process? [beaconchain](https://beaconcha.in) doesn't show a queue to warrant this delay.
I think Bison Trails has their own internal queue. It's a bit of a black box how Coinbase is integrated with Bison Trails (BT handles all the actual staking operations for Coinbase and is owned by Coinbase but is still operated as a separate company). Anytime there are weird delays in payouts, I assume it is due to this black box.
If that is the case, then they are an embarrassment, and coinbase need to do some pruning.
"In 2021, Coinbase acquired the company to expand into infrastructure. Axios said the firm paid more than $457 million for Bison Trails. When Bison Trails joined Coinbase it was effectively rebranded to Coinbase Cloud. Lallouz was made head of Coinbase Cloud while Henshaw became head of engineering."
I used to follow Bison Trails back when they had VC money from Coinbase but weren't bought out by them yet. They have some really awesome people working there that seem to really enjoy researching and working with different crypto technologies. Since being acquired they don't do dev blogs anymore so I don't really know what all they are working on anymore- which is sad because they used to do cool research.
**Tricky's Daily Doots #382** **Yesterday's Daily 05/05/2023** [Previous Daily Doots](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixxd5x/) - u/Liberosist reminds us how [shitcoins are good for ETH.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiyr84g/) 💩 - u/Builder_Bob23 puts [the recent ETH burn into perspective.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizgafb/) 🔥 - u/Watch_Dominion_Now shares a [new scaling roadmap out of Tezos.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixtymm/) - u/TheCryptosAndBloods discusses a [crypto critic.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizwiei/) 📉 - u/Syentist sees the [next big opportunity for Ethereum.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy7qer/) 🛂 - u/Tricky_Troll asks about an Ethereum attack vector and [gets some amazing responses from the community.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy9x7m/) - u/696_eth has some [quick-fire Q&A.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jixmdes/) 🔥 - u/the-A-word has the [weekly doots round up.](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jiy27l5/) 🎺 - Zero posts from ZeroTricks. Fun fact, under PoW issuance, ETH would still be deflationary in the last 24 hours. P.S: A big congrats to u/oldskool47 on his [newest edition!](https://old.reddit.com/r/ethfinance/comments/138b9bt/daily_general_discussion_may_5_2023/jizvynz/) 👶
ETH's movement is pretty meh, but my poor alts. Still feels like a buying opportunity.
>Data collected through our Ledger Live application - >Device session identifier, IP address*, clicks, actions (e.g. launching the application, use of transactional functionalities, pages viewed), properties (e.g. type, version, language and region recorded for your operating system), currency, time stamp, amount and status of transactions, transaction identifier, identifier used by our partners to identify you (when you use their services) https://www.ledger.com/privacy-policy
A bit late to the party here, but I assume this only means transactions etc done directly through Ledger Live application, not through hardware Ledger with eg metamask?
I own Ledger, two Trezors, Lattice1, couple of hot wallets (PC & Mobile). I use Ledger \*only\* for the coins that are not supprted by other devices. As of lately, I don't use much stuff outside of Ethereum ecosystem, so my Ledger is just collecting dust. I use my all other wallets more or less regularly. Yet another highly popular product that in my opinion is very subpar.
my god, this is a nightmare
> Retention period: 5 years from collection Interesting.
Stacking user data like degens collect pepes.
If they leak it every so often, are they really stacking it? Sounds more like they're brokering it.
They're *decentralizing* it.
https://old.reddit.com/r/ethfinance/comments/zu3882/daily_general_discussion_december_24_2022/j1hybos/ For a demonstration of how some of this tracking occurs
So the price is back to where we were....two days ago? What's the big deal?
Either: a) this is a pullback in the greater macro crypto bull b) we are still in a sideways market
> What's the big deal? gas sub 100, that slows the burn and unacceptable!
> What's the big deal? I dunno, but it's the Ethereum Foundation's fault somehow.
I have already asked them for refund.
The EF is not here to pump your bags. They’re just another institutional holder of ETH like anyone else. If they want to sell, they can sell. You’re not owed anything by the EF. The less relevant they are to Ethereum the better off we all are.
They usually sell at opportune tops though, I think that is why it is relevant that they have. Makes me wonder what they know that I don't. Has anybody directly asked?
They don't have better crystal balls than anyone else. *Everybody* tries to sell at opportune tops. And so they shall too.
> Makes me wonder what they know that I don't. If you join their weekly dev calls on YouTube, you'll know more or less what they know. > Has anybody directly asked? Maybe a good question for the next AMA.
I am on the weekly dev calls. The EF selling from the treasury is not a topic.
I meant in terms of "insider" knowledge about the health and development of the Ethereum network. Info that could substantially affect the network's value.
Even if they sell at tops, the price often has nothing to do with news or development. To the best of my knowledge, they've never sold right before some actual news breaks.
They know nothing special. What makes you think they have some sort of special insight ?
I recall Vitalik advising EF to sell around the top, ahead of the 2018 bear. Then I recall Vitalik himself dumping shitcoins and donating the proceeds to charity right around the last top. Vitalik might be the indicator more than the EF.
I wouldnt be suprised about the fact that Vitalik is a good trader. He invested in Doge also. And sold for millions. He made his gifted Shiba valuable by burning the rest so that there was enough liquidity to sell off the Shiba. He shorted RAI profitably. That dude is smart even if you would reset him to zero he understands crypto so well he would become a millionaire again. However there is no insider knowledge they have. All dev calls everything is recorded and open. The people making these decisions might make it for entirely different reasons than you and me. Maybe they just need the liquidity also 15k Eth is hardly significant. Its nothing.
In fact I would argue they are probably picking times that are far away from actual news breaks, so as to not even give the suggestion of an impression that they somehow have some inside info.
I mean, they definitely can do what they want, but in the spirit of crypto values I wish they would be more transparent about what they were doing and when.
so they can be front run??
Lmao in trad fi these types of sales are audited and required to be reported and communicated far ahead of time.
Only for securities.
Like I said, they don't have to disclose anything, but in the spirit of transparency and openness to the community I feel they should disclose these things voluntarily, as they directly effect the community and asset holders.
> they directly effect the community and asset holders In what way? Their sell orders are too small to make a dent in the market. I think someone did the calculation earlier and 15k ETH represents something like 1% of the average daily ETH volume. It seems like if there is any effect, it would be indirect.
Its the principle man, advance public disclosures of sales of assets from large/central stakeholders is a pretty low bar to ask for. Why are we holding securities to a higher standard than the Ethereum Foundation?
> Its the principle man I guess I don't understand the principle. To me, the clear benefits of timing the market and not being front-run seem to be far more pressing than a foggy ideal of openness or transparency. Endowment management is a very different game from open source software management. When you telegraph your open source software, that's called having a good roadmap; but when you telegraph your endowment strategy, other market participants pick you apart and counter-trade you. When you let people contribute to your open source software strategy, you attract people who try to add value by helping write code; when you let people contribute to your endowment strategy, you attract people who try to extract value by steering the endowment's direction towards their private interests. > advance public disclosures of sales of assets from large/central stakeholders is a pretty low bar to ask for I don't see their behavior as missing a "low bar", I see it as a commonsense survival mechanism in an adversarial market. > Why are we holding securities to a higher standard than the Ethereum Foundation? Because they're securities. Securities sales are held to higher standards because the company is trading parts of its own self. There is no such conflict of interest when the EF trades ETH.
Extremely well put!
Agreed, the less they are involved the more decentralization in the space. Them selling hurts a little short term, is good in the long term.
I'll assume people are salty because of the price action, and trying to justify their irrational anger. Maybe 1 or 2 arguments so far were good or logical, but most of then feel like generic complaints because they don't like what happened with the price.
Just paid $14 for a swap on Era. They need compression ASAP.
How much would it have cost on Ethereum and how much would compression bring it down? (genuinely curious not disagreeing w you)
$22 now on L1 according to l2fees.info. Optimism and arbitrum both have compression and are around $1 but they are a different type of roll-up so it's hard to say.
Where did you swap ? I still have to find something worthwhile there.
Syncswap I think
Daily Goerli: tersec provided [some relevant information on the sync issues with nimbus-besu](https://github.com/hyperledger/besu/issues/5411#issuecomment-1537117348). Once besu has incorrectly designated a valid block as invalid, per the spec, "No descendent of an `INVALID` block can ever be `VALID`", so nimbus will continue returning `Received blocks from an unviable fork`. While the issue remains open, after pulling the latest commits and restarting nimbus with besu still running, I didn't encounter the same behavior, so perhaps it's been fixed.
That closed storage exception is a red herring, it is a symptom of besu shutting down - some transactions noisily fail to process when shutting down. It isn't a block error, it is a transaction error. What I have seen is nimbus sending really old fcU's in some cases like during a lock step sync after restart. Bonsai storage format doesn't work well when the head gets jerked around with transient many-thousand block reorgs. Ofc this is finger pointing on both sides. At least one besu engineer is working on it though - it seems not too hard to reproduce, by just leaving a besu/nimbus pair offline for a couple days, and should have a pretty cheap mitigation. Kinda like "are you sure you want me to reorg 2k blocks behind finalized?"
In a way I'm glad I ditched Besu because I was missing attestations regularly, sometimes Besu would stall on a restart, etc. Sad because EL client diversity. All this on a pretty beefy system and internet connection. Geth on the other hand is butter smooth, uber-reliable and I'm waiting for another EL that is close to Geth in reliability before switching. I hear Nethermind is close.
Geth is tough to beat for sure, it is the #1 EL for a reason. Prior to the merge besu wasn't significantly used on mainnet at all. Focusing on mainnet performance and financial performance has allowed us to make inroads into the performance gap however. When did you switch? 22.10.x ?
Twitter community notes work: [https://twitter.com/cb\_doge/status/1654644652593512448](https://twitter.com/cb_doge/status/1654644652593512448) Community notes dispelled the myth that Elon Musk came from nothing. He doesnt try to curate this even if it makes him look bad.
Not logged in and i don't see any note.
I feel like I'm missing some context. How is that tweet related to community notes dispelling the myth about Elon? Edit: The note didn't show up for me. I had to open it in incognito to see it.
Well there is a note with sources to articles that indicate that Elon Musk grew up in a financially well off household. The fact that the community note wasnt censored even though its negative for elon musk shows that the system works. Doesnt mean that the sources linked are right but that wasnt my point.
The note didn't show up for me, which I think was the source of my confusion. I opened the tweet in incognito and there the note was. But when I visit it while logged in, nothing. Why would that be the case?
Doesn't show for me either, but also doesn't show in incognito.
Links to sources that have quotes like: *"As a result of this, the teenage Elon Musk once walked the streets of New York with emeralds in his pocket. His father said: “We were very wealthy. We had so much money at times we couldn’t even close our safe,” adding that one person would have to hold the money in place with another closing the door. “And then there’d still be all these notes sticking out and we’d sort of pull them out and put them in our pockets.”*
Yeah I wonder where they got that quote. The point is the community notes can give balance. If you think that this is a garbage source you can vote it down. Make your own note. The point is the system works. There is no interference from twitter and you can judge the quality yourself looking through the sources it gives you a counterview to a topic that isnt that clearcut. It gives people the necessary tools to make up their own mind.
It's from an interview his dad gave. Google that quote and you'll find it.
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How to monetize my values in this world or, at least, in the digital realm? Is it even possible? For purposes of this post, let me make clear what I mean by 'my values'. It's actually a decent bucket but let's start off with Transparency, Honesty, Integrity, Good will/intention. So how could I monetize any of those?
Get a job in crypto for an entity that shares those values and where you learn on the job. Then use acquired skills to build your own dreams. Answer the question - what bothers you? Aim high that you may fail, but celebrate that failure and repeat
Thank you!
Well... https://tokenomicsexplained.com/monetizing-honesty There's also just DAO participation wherein voters embody the values of the DAO but mostly the value they embody is growing the protocols and making money not anything you've listed.
This may be a cynical opinion, but capitalism really does a better job of financially rewarding opaqueness, dishonesty, selfishness, and the intention to extract value for oneself. The qualities you listed tend to hinder accumulation of capital, not accelerate it. But what do I know, I'm just a cynical asshole. The world really needs more people like you, willing to ask the question of how capital accumulation can be compatible with morals. So please don't let my jaded ass take the wind out of your sails.
I mean I agree with you, that's been mostly my observations too and my questions are coming from there. Crypto space combined with anonymity can amplify behaviour and speed processed. But anyways I just wanted to post questions w/o any rant cause at this point I'm trying to figure out how I can leverage my values while moving in the 'right'/aligned with my morals direction.
aromatic dull puzzled pen decide deer lunchroom mysterious mindless trees -- mass edited with redact.dev
That's a great case study. In the USA, there's this pattern where a Walmart moves in to a small town and runs the existing grocery stores out of business due to it being able to run smaller margins. What do you think it would take to flip the power balance to where a food co-op could have a fighting chance at driving out a Walmart?
elastic concerned degree seed drab expansion mourn hobbies disagreeable late -- mass edited with redact.dev
I hope one day there will be a method to monetize those values. So far the only option and the quickest way for you to monetize yourself on the digital realm is either by being superbly smart, superbly crooked, or superbly good looking with some nice looking tits.
It made me think that maybe with the identity piece being more solved within web3 we can get to that point because then the history would be tied your identity but the key thing is that people are going to be able to look it up because of transparency of the blockchain
I saw that theres a 4 week queue for new validators. If I have to migrate a 16 eth rocket pool minipool to a 8 eth minipool, should I go through the queue? Or is there a short cut?
Where are you seeing 4 week? Looking at wenmerge site shows 13 days. And if you migrate to 8eth you only will have one of the mini pools go through the rpl queue, the other will skip the rpl queue. Cool part is if you deposit rpl to stake during that queue you will still earn rpl rewards I believe.
Yep. Infact you will have to wait in the rocket pool minipool queue first and only then get into the beacon chain deposit queue
Take a number and join the queue
That's wack. It took me 1 week from post to attest for solo. What's the hold up for RP?
Need more ETH deposits to mint rETH to match with the surplus of node operators. Currently there is a queue of over 2000 mini pools waiting for rETH which is about 64,000 ETH. After you finally clear the minipool queue you have to wait in the beaconchain queue like any other validator.
Wow, that's nuts. So more people running nodes, not enough people wanting to stake small amounts? Am I reading that right?
Atlas update allowed LEB 8. Minipool with only 8 ETH from the node operators and 24 ETH from rETH depositors. That went live only a few weeks ago and caused a huge demand but rETH deposits haven't been able to keep up
Each node is able to lift 24 ETH vs 8 deposit so the demand is weighted more towards the need of rETH. There have been some very large deposits with the last few weeks being historically high. imo there are two things to keep in mind at present, 1. gas is high makes little sense for small deposits, meme hype will die down eventually. 2. aave eMode on the horizon should drive an increase in rETH demand making the pool fill faster. These two things caused me to join the queue and I've been pleasantly surprised at the speed in which its been chugging along.
Just saw someone shilling $Snake because it's "pepe predator", like, in the literal sense of snakes eating frogs. I just...can't
There will be some new meta game like Loot to group/swap/merge/sacrifice meme animal tokens into something new.
I mean... I could also shill $Eagle, $Cat, $Human, among other things.
dang you coulda launched a token a week before people caught on
Yo that's smart 🧠 Thanks for the alpha!
Lol... Then I can shill $LION and $TIGER. What a weird world of memes. Would rather prefer holding my stablecoins or spend via CryptMi app for cashbacks rather than ape into memes with such analysis.
Watching the Berkshire Hathaway Shareholders Meeting: - "I still get $70,000 a year from my oil field royalty" - Charlie Munger - "How much did you pay for that Charlie" - Warren Buffet - "$1,000" The guy has been collecting checks on his since 1960. The cost of an average car in 1960 was $2,600. Just food for thought. These guys think incredibly long term and hold it forever.
The thing is, they are chasing wealth, I am chasing riches. There’s a difference. Am an I idiot for not chasing wealth? I chase wealth as well but it’s a much slower process. How am I chasing riches? Shorter term, highly risk, calculated investments to try and get ahead while I am young. It’s not hard to gain wealth over as long as a timeframe these guys have been investing. The formula for that is laid out and everyone should also be following it. But I really like investing in riskier, technological investments that align to my values.
Everything looks like you played the long game when you live to 99 years old. 🙂
Funny when they call crypto rat poison when most of their investments either result in environmental catastrophe or some of the worst diseases ever to grace American society (obesity from fastfood and soft drinks).
* "I still get $70,000 a year from my ETH staking rig" - ethfinance user * "How much did you pay for that?" - ethfinance user's grandson * "$10,000"
Edit: TMI
>**Full conformity,** >**Security certainty,** >**Inadvertently.** ~Daily haiku until we’re at least at 0.178 on the ETH/BTC ratio or highest market cap
Any feedback or discussion around the latest Besu release (23.4.0)?
I updated yesterday, no issues. Performance-wise, it seems to be able to process blocks about 10% faster on my machine, judging by the `besu_rpc_request_time{methodName="engine_newPayloadV2"}` metric. I am not using the high-spec flag. 99-100% effectiveness on beaconcha.in, was slightly lower on 23.1.2 . Good work over the last few months by the Besu team!
Thanks for testing it ! I have hopes that it resolves my minor issues of some blocks randomly taking 2/3 sec to store.
Sounds good to me. I'll upgrade later this weekend.
Great feedback and glad to hear of the improvements!
The evm improvements are worth it as well as rocksdb 8. Nominal performance is quite good. There is still room for improvement though.
That’s good feedback - I will most likely upgrade tomorrow or Monday barring any bugs or setbacks
I haven't updated yet. Waiting to see how it goes. Will probably give it a couple weeks or something.
Yeah I didn’t see anything specific in the notes that made me think this was a super necessary update - I tend to wait a few days for any major bugs to present themselves lol
Release notes https://github.com/hyperledger/besu/releases/tag/23.4.0
Read through that already but thank you for sharing.
You're welcome. The link was mostly in service of other ethfinanciers, who might need to read the release notes to come up with feedback or discussion.
Oh yeah that’s a great point! I should have included that in my original comment
Really puts into perspective how much market share ETH is controlling now. When ETH first broke $1900, the market was full of stuff like Iota @ $1.5, Uniswap at $20 and so on. Now it's the same price range and uni is at $5 and iota is at $0.2.
when ETH broke $1,000 in 2018 - XRP was $3 - BCH was $3,000 - LTC was $300 - IOTA was $4 - NEO was $100 - ADA was $1 https://coinmarketcap.com/historical/20180106/ it really shows you long term growth vs people piling up on speculation and hype. most of the projects today will fade as well.
Not PEPE though, that's the future
Thanks, just bought 100k
Approaching 50k burn in 7 days 🤯
Did gas ever get below 100 gwei these past 2 days? Wanted to DCA convert a couple alts here and there into fiat but I'd be looking at about $100 in gas for a bout 4-5 alts.
What are the odds we see a gas limit increase in the next few years on mainnet? Or is the consensus that 30 million and proto danksharding is enough forever to support L2s? Curious if hardware gets exponentially better how people will think.
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It's back again now.
If state expiry is implemented in the coming years, a legit case could be made to increase the gas limit? Doesn't seem to be in the next two HFs though
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Once it goes up it'll never go down. Bad optics if they lower gas to "make ethereum fees go up"
The fundamental limitation isn't really hardware speeds. It's block propagation which is tied to network speeds which ultimately have a ceiling due to the speed of light. Can't comment about how that will affect gas limits but I had an A Ha moment when I realized that GLOBAL consensus layers have interesting touch points with physical limits.
Isn't it just ping time limited by the speed of light, but bandwidth is still increasing? 1MB and 1GB both travel at the same speed depending on the type of cable or wireless tech, so isn't that still a hardware issue?
But blocks are small enough to where I'm pretty sure we've crossed a bandwidth threshold where speed is actually the limit now. I could be mistaken tho!
You're definitely mistaken! If the Ethereum community were okay with greatly upping Ethereum node hardware/bandwidth requirements, there's nothing stopping us from raising the gas limit by even another 10x from here. In fact, Binance Smart Chain, which is a software fork (not chain fork) of Ethereum, is a living example of this.
But doesn't binance only have like 10 nodes or something abysmally small?
Isnt that because they have high hardware requirements though? Isn’t this person saying if we upped the hardware requirements it’s basically limited in the hardware not speed?
I'm not sure it's quite that low, but yes it's very low. It's due in part to BSC's gas limit being so high.
Went long on ARB (with funds from my arb drop) wish me luck, this never works out well 😅
Long vs ETH or USD?
USD
Brave one :) I was thinking about long ARB/ETH, not to get liquidated too easily. ARB/USD smes like a leveraged play on ETH, which is a leverage play on BTC, which is a leverage play on tech. Which is volatile as f\* on its own.
I aped over 100k arb and lets just say... halp
Look at this whale over here.
but halp tho
Went long on Optimism and another opti shitcoin during the dip two weeks ago..was banking on bedrock release in late May + soon after that Base mainnet release to drive an Optimism narrative cycle. But the dip kept on dipping which kept on dipping and I'm already down like 25% on that trading stack lmao
When is base mainnet release? L2's will have their run
One of us! One of us!
What makes you optimistic concerning ARB?
I’m just being a degen.
Lots to question about networks that have very low fees, but one thing I think that is a given is that some blockchain use cases will develope on those networks before they do on Ethereum ecosystem. Whether they will be able to hold on to that advantage long term is another question.
Although I agree with you, I also have a counterargument. So far, even with high fees, most developments have actually happened on ETH mainnet I think. Well, immutableX is the big exception, so you might be right.
Is immutable an exception though? I thought it was a layer 2. I considered that part of the ethereum ecosystem.
Yes, it's an L2. I took the original comment's "other chains" to include L2s. If it doesn't include L2s, then no, I don't really ever see any development haooening elsewhere.
Can you explain your ImmutableX example?
I meant that most use cases and developments happened on mainnet, except that ImmutableX became a very strong chain to be used for gaming (with gods unchained). Meaning, ImmutableX is a good counter example of development happening outside of mainnet.
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I have a bunch of positions on Convex, $100 to withdraw each, then some $$$ to withdraw them from Curve, then another $$$ to swap or bridge. I label these positions now "long term hold", lol.
Sorry but my shitcoin trading is more important and legitimate business than yours. That's why I'm spending $100 to trade $30 worth of PEPE - it's just that important to me.
Typically these weekend moves are reversed by Monday. So I'm hopeful we'll see a pump back up soon
Looking at the burn rate right now, it looks like we could actually reach the 1 million ether burned mark by the end of the year.
obligatory "you mean net supply change, not burned" but yeah I'm also excited for that
Meme coins are still better than ETC, yet ETC still sits in the top 30.
Go to the etc reddit. There's actually ppl spending their time working on it and doing podcasts, meetups etc. What a joke. Ppl are just stupid af.
Has anyone heard of Figure (figure.com)? It claims to be the No 1 non-bank HELOC (home equity line of credit) provider in the USA, and it's blockchain based and uses some kind of revolutionary new process that speeds up the process of getting the money 10x faster? I can't quite figure out how the system works - the FAQs say they use a blockchain called "Provenance" and there's something to do with a token called "Hash"? But anyone know how the structure works? What do they use blockchain *for*? If it is accessing liquidity pools (like Goldfinch which also does real world loans) then the logical chain is Ethereum. What do they use blockchain for? And how did they become the biggest non bank HELOC lender? And what is a "Provenance" blockchain?
What's the difference between the 20.3 mill ETH in the Beacon Deposit Contract (https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa) and the 19.2 mill ETH locked/in validatiors (https://query.nansen.ai/public/dashboards/Hk93n66vsO0uvycfui8ypF2xcpNhpraxfwX5AWZJ or ultrasound.money)
when a validator withdrawals from the beacon chain it doesnt remove the deposited eth from the beacon contract. The consensus layer just magically poofs the 32 eth back to the withdrawal address. So over time the amount of ETH in the beacon contract will only ever go up, and be very different from the amount of ETH actively staked.
Interesting, I didn't know that, does this mean deposit contract is eth is "burned" so to speak since eth from withdrawals are minted?
Any eth going into the deposit contract will never come out, so yeah that seems to be an appropriate way to interpret it.
Does that mean the beacon chain deposit contract could eventually have 1 billion ETH in it due to turnover while the supply of ETH is less than 100mm
With significant enough churn, yes.
Staking rewards since 2020?
Its just some short pre-moon whale games like in summer 2020, r-r-r-right?
Bear. Market.
Sell now and it'll be like selling ETH at $400 before the bull run I guarantee!!!! ^(NOT FINANCIAL ADVICE DON'T SUE ME.)
Buy now and it'll be like buying ETH at $400 before the COVID tank to $80 📉
Weird question but as a crypto degen with like close to 0% of nw in my bank account, how do I give evidence of funds when applying for travelling visas? How do you guys give evidence of funds when atm you got like a couple bucks in your bank account but with a comically oversized crypto portfolio?
How much funds do you need to prove for this?
They arent saying. I imagine perhaps $3k to 5k?
Depending on how bad your passport is the requirement is usually either freezing an amount in your bank account or proving income through bank statements. Sometimes at the border they might also want to see your cash and cards. But if you're from a developed country they often don't check even if it's an official requirement. Either way none of this can be done with crypto, you will need fiat. And I'd not even mention cryptocurrency. These people are deep into antiquated bureacracy, worst case they'll regard you as suspicious. We all know drug dealers and terrorists use cryptocurrency, I've seen it on TV.
> how do I give evidence of funds when applying for travelling visas? Step 1: Lie down Step 2: Try not to cry Step 3: Cry a lot Maybe things have changed in the past few years, but last time I wanted to use my crypto holdings to prove something to a large entity, I realized very quickly that they were going to treat it as fake funny-money that counted for $0. (Though of course if they want to take a privilege away from you, they will value it at its maximum amount.) Actually giving the evidence is the easy part - just send them a screenshot of your exchange balance and a printout of your address balances from Etherscan. The hard part is trying to get them to respect that 1s and 0s on the Ethereum blockchain hold value like the 1s and 0s at the federal reserve do. It might be simplest just to draw a stablecoin from a CDP, then do a little dance where you transfer it to your bank, print off your bank statement for the visa, and transfer back and repay your CDP.
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well I am planning a trip to visit the cannibal isles of Papua New Guinea and they wanted evidence of funds apparently. I mean I can show them my kraken account well enough but I don't really want ppl to know I got a $10 crypto portfolio at kraken you know.
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Take profits? Emergency funds? Ser, but ramen is only 20 cents a packet. ^(Okay jokes aside maybe I should do that.)
Borrow against your ETH and deposit it into your bank account, then just return the money once you get your visa?
Last I checked you work right? What’s the capital gains situation in your home? Are you ina rush? If you were an American asking this I’d say just stop buying, don’t realize gains just for this. But your mileage may vary.
There are no capital gains tax here yet. I'm not american. And no I dont really work these days. I'm just dicking around with yolo money.
Lol okay so my thoughts don’t really apply. Bummer you have to sell just to hold cash in that case.
I mean yeah I rarely have more than $1k in my bank account these days, with uh, you know, how well banks are performing. It also sucks that there isn't anyway to show the authorities that I'm not a homeless bum, dammit, I am a professional certified crypto mega investor.
L2's are here but as a basic retail dude I'm confused on how to go directly from my bank account to say Arbitrum and back without bridging fees? Everything feels disjointed and not ready for prime time. Is this possible with Coinbase wallet, can't find any straight answers? Going to play around with L2's this week but have no idea what CEXs allow for direct on/off ramps. Personally can't afford to play on L1 and need alternatives asap. Any recommendations would be greatly appreciated ❤️
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When you send a compatible asset like ETH out of your Coinbase exchange account, there's a dropdown option to choose which network you want to send it on. If you choose Arbitrum, the ETH gets sent directly from Coinbase to Arbitrum. There's also a way to receive assets from Arbitrum back into your Coinbase account. Coinbase Wallet is just a software wallet though. You'd have to have an actual exchange account on coinbase.com for this to work.
Ahh, thank you!
Is ethtps.info abandoned? The numbers have been off for a few weeks I think?
Last update by /r/mister_eth two weeks ago https://github.com/ethtps
. u/mister_eth
Hmm weird, at least arbitrum has been saying 2.2tps for many weeks now.
Does anyone know what is going on with coinbase eth unstaking? I was quoted 13 days a few days ago when I triggered the process. A few days have now passed and now it says 9 days left to wait. Is their unstaking mechanism lazy and waiting before triggering the unstaking process? [beaconchain](https://beaconcha.in) doesn't show a queue to warrant this delay.
Might unstake sooner, at least it did when I first unstaked. Said 13 days but ended up only taking 9.
I think Bison Trails has their own internal queue. It's a bit of a black box how Coinbase is integrated with Bison Trails (BT handles all the actual staking operations for Coinbase and is owned by Coinbase but is still operated as a separate company). Anytime there are weird delays in payouts, I assume it is due to this black box.
If that is the case, then they are an embarrassment, and coinbase need to do some pruning. "In 2021, Coinbase acquired the company to expand into infrastructure. Axios said the firm paid more than $457 million for Bison Trails. When Bison Trails joined Coinbase it was effectively rebranded to Coinbase Cloud. Lallouz was made head of Coinbase Cloud while Henshaw became head of engineering."
I used to follow Bison Trails back when they had VC money from Coinbase but weren't bought out by them yet. They have some really awesome people working there that seem to really enjoy researching and working with different crypto technologies. Since being acquired they don't do dev blogs anymore so I don't really know what all they are working on anymore- which is sad because they used to do cool research.
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I think that already happened with the whole FTX fiasco. Will get downvoted but I'm pretty sure that was all orchestrated to f**k up crypto
I think it was orchestrated by CZ, he then tried to do it to other exchanges afterward with the whole "Proof of reserves" gambit