Ethereum Ethereum is the New Era of the Internet |
- Ethereum is the New Era of the Internet
- PSA to Newbies coming into Ethereum and Bitcoin: Don’t buy from any exchange that doesn’t allow you to actually withdraw your coin
- i literally sent Ethereum to the moon thanks to MrBeast.
- Are DeFi governance tokens just money grabs?
- Ethereum in Palantir PLTR projects
- How much less energy does Eth PoS use compared to PoW?
- $1200 gas fee for $32 contract interaction... is this a glitch or a genuine hurdle in NFT art sales?
- Is dtube a real decentralized web application?
- Question from a noob / beginner
- "Trustlessness" of dapps
- Research on 1 gwei pool transactions or mining on Ethermine (and other big pools) makes you lose 3-4% of your revenue.
- Withdrawing REEF Off Uniswap With MetaMasm
- Manually setting transaction fee when transacting using geth
- NFT Market Sets New Records As Alien Cryptopunk Art Is Sold For $762K
- Most popular layer2 scaling solutions?
- Are exchanges running out of ETH?
- Buying ETH for the first time - any tips?
- System scaling questions
- I was told Kraken and MEW wallet is the way to go...
- How to trust IPFS URLs?
- I purchased on Robinhood :( asking for advice
- My first cryptoart / NFT. Portrait Study of a Comedian (@SarahSquirm). OC.
- Is there a way to get around the absurd gas fees?
- How do you create 2 hardware wallet address accounts in metamask and switching them easily?
| Ethereum is the New Era of the Internet Posted: 24 Jan 2021 11:05 AM PST
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| Posted: 24 Jan 2021 08:12 AM PST The ProblemI'm seeing a big influx of new users asking questions about where to buy their first bitcoin or ethereum and how to store it. I didn't realize this before, but mega corps such as PayPal, Robinhood, and Wealthsimple do not allow their users to actually withdraw their crypto to their own wallet. You only have the option to buy and sell the coin on their platform. This is terrible for the community and not at all what cryptocurrency is all about. These companies are basically creating gated communities where they are profiting from pure speculation, and is detrimental because if you buy on these platforms you will never have the ability to actually hold your own coins. Ethereum is also a utility coin, for you to actually interact with the Ethereum network you need Ether. If you are never able to withdraw the coin, how will you ever interact with the network? You'll never be able to try out these new Defi projects, stake your own coins, or try out any of the cool new Dapps that will for sure come out in the future. You will end up in the same place which spurred satoshi to invent BTC in order to avoid, which is having an entity or a government that can take away everything you own at any moment. They are also creating a system where they are taking your money to buy more BTC/ETH but they never have to sell their holdings. Why is giving your money to these companies a bad idea?If you are giving your money to these type of companies, then you are fundamentally misunderstanding the value proposition of BTC/ETH and are making an uninformed and bad investment decision. You are investing in the downfall of the community. You may make money in the short term, but the long term prospects of you surviving in this space is low, and decrease the potential for the market as a whole. The reason why Bitcoin was invented in the first place is so that people can transfer value over the internet without corrupt government or malicious companies being able to take that away from you. By giving money to these companies you are basically signaling to the market that you don't understand the value of BTC or ETH at all, and you're just here to try to make a quick buck. This in turn gives the mega corps more money to market to other newbies that are trying to make a quick buck and the cycle continues. These mega corps will end up dominating the market, and perhaps get to the point where they have unnatural influence on the direction of the chain. We may just end up exactly where we started and then what's the point of even being on these block chains? If capitalism is your religion, money is our prayer, BTC is your denomination, then you are worshipping the devil by giving your money to these type of coroporations Can these type of exchanges be good for some people?I do see the value of these type of platforms for a very specific type of person: someone that only wants to speculate on BTC/ETH and don't actually want to use, try, or participate at all in the community. By using a platform that doesn't allow you to withdraw means that in the event you get hacked you will never lose money that the mega corp is unwilling to reimburse. But that just means that you make no attempt to take responsibility for your personal digital security, and will never truly own something online that other people don't have control over. And that's fine. Someone's grandma that wants exposure to BTC without any of the risk might choose this route. But if that's the case, then I would suggest you just invest in something else instead, because if you don't see the importance of owning something yourself online then your not investing into BTC/ETH for the right reasons. I strongly implore you to understand what it means to hold your own coin and keys. There is definitely risk - it's ALL the risk. But that's the point, understanding digital identity and digital value to the point where it is absolutely EVERYTHING. There is a saying in the crypto community - not your key, not your coin and that's exactly what these type of platforms are boxing you into. Crypto forces you to live in the new reality where understanding the underlying technology is everything. For those newbies out there looking the next moonshot - if you don't fundamentally understand what you're getting yourself into, how do you expect you're going to find the next 10x 30x thing? Money is not just going to drop out of the sky Companies that don't allow for withdraws:please let me know which companies don't allow for withdraws and I'll continue adding to this list so that newbies can have a quick look at which companies they should definitely not give their business to
So if you are new, where do you buy your BTC/ETH?This question is going to be heavily dependent on what part of the world you are from. If you are about to post this type of question, please include which country you are from and what currency you want to buy in. What wallet do I withdraw to?The community consensus for long term holding is hardware wallets. The most popular ones are Ledger and Trezor which are both multi-coin wallets. ONLY ever buy directly from these websites, and never from resellers as they could potentially have been tampered with. If spending extra money is out of the question for you, then consider looking into generating a wallet with virtual machine that is not connected to the internet. I'm not as familiar with this method of wallet generation so I'll let more informed people chime in on this. Alternatively, the least secure way out of the bunch would be to use an extension wallet like Metamask or MyEtherWallet. Ledger have previous had a data breach where their customers information was leaked to the web. The hardware wallets themselves are still secure, but Google the circumstances of this to make your own informed decision on whether or not you want to continue using this wallet. I have questions, and I need help!We understand that crypto is hard, and there are a barrage of information, traps, and scams out there on the internet, but it's very difficult to help you when you don't provide adequate information. You are much more likely to get support from the community if you are more specific with your question and provide as much details as possible (never under any circumstance post your private key or 12/24 mnemonic key online while asking for help.) [link] [comments]  | ||
| i literally sent Ethereum to the moon thanks to MrBeast. Posted: 24 Jan 2021 11:04 AM PST
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| Are DeFi governance tokens just money grabs? Posted: 24 Jan 2021 05:50 PM PST I get BTC... I get ETH... I even get XRP and DOGE... but one thing that I do not get is governance tokens with hundreds of millions to billions of dollars of market cap. Could somebody please explain to me why somebody would want to trade their assets for governance tokens, or support selling/trading of governance tokens? I suppose you could buy up over 50% of the tokens and then vote to transfer all assets on the platform to your own personal wallet. Other than that, I just do not understand what other rationale there is for governance tokens, other than being issued in the first place to make their founders money by selling control of the project to the highest bidder. It just seems risky/questionable to me to create tokens specifically for governance that require no financial interest on the platform itself and can allow entities with unknown and potentially nefarious intentions to assume control of the project. The only way for a project to truly be decentralized would be to make the project immutable. Selling governance rights opens the door to the complete opposite. [link] [comments]  | ||
| Ethereum in Palantir PLTR projects Posted: 24 Jan 2021 03:17 AM PST Hi, I heard that Palantir has some projects based on Ethereum. Does anyone have more detailed info on this topic? [link] [comments]  | ||
| How much less energy does Eth PoS use compared to PoW? Posted: 24 Jan 2021 06:44 PM PST Is the energy needed purely for verifying transactions? Is it similar to the energy Visa would need to process transactions? Or is there still some extra processing done somehow? Does anyone know the actually power consumption percentage reduction? I haven't been able to find any answers online. 🦄 [link] [comments]  | ||
| $1200 gas fee for $32 contract interaction... is this a glitch or a genuine hurdle in NFT art sales? Posted: 24 Jan 2021 08:03 AM PST | ||
| Is dtube a real decentralized web application? Posted: 24 Jan 2021 11:57 AM PST
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| Question from a noob / beginner Posted: 24 Jan 2021 04:05 PM PST So, I have a home/gaming computer with a 3090 and hi-efficiency PSU that doesn't get used for 3/4 of the day, and power is pretty cheap in Vancouver so I thought I would try and understand what mining is all about. Starting with Ethereum (need to start somewhere), and getting about 110mh/s out of the box, I was wondering if people could provide context if/what/why it might make sense for me to do this, or does it make more sense to take a gamble on a crypto that is still in the pennies (or something really low) so if there is a chance that it explodes, you might make a bit of money? I realize that I only have one rig and this is recreational for me - does it make sense to keep my rig grinding away in the background. Right now with the watercooling and not excessive o/c'ing the rig the GPU hovers around 40-45c so I am not creating an excessive amount of heat (might be a bit of an issue once summer comes a long). So its really about the question from a recreational strategy - should I just try and mine a specific coin, should I use NiceHash (and as i understand it, basically rent out my GPU for the best profit at the time based on what NiceHash calculates), should I pick a rando relatively unknown and new coin just for shoots and giggles? All in all, this is a fun learning experience so am thankful for any constructive insight, feedback, suggestions etc. [link] [comments]  | ||
| Posted: 24 Jan 2021 07:24 PM PST So I've been trying to familiarize myself with some popular dapps on the ethereum network...and the contracts mostly seem to just shift money from one address to another based on certain conditions. Is it correct that if I wanted to define a smart contract that depends on external conditions, then I need an oracle? So I need to trust a centralized entity with my money? That doesn't sound so good. If I pay traditionally for a product online and the vendor doesn't ship it to me, I can get my money back through paypal or my credit card company. If the product isn't like advertised I can file a fraud claim and get my money back. Obviously smart contracts are currently not enforcable legal documents, so what are possible solutions to create a safe exchange of assets/services? Also would we deal with a cancellation right or refund policy? In the current system, "trust" is given by governments enforcing laws on these companies, and being able to freeze bank accounts, seize assets and fine or arrest individuals. That won't be possible for a DAO with crypto assets. Who will enforce contracts? [link] [comments]  | ||
| Posted: 24 Jan 2021 05:21 PM PST
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| Withdrawing REEF Off Uniswap With MetaMasm Posted: 24 Jan 2021 07:12 PM PST How in the ABSOLUTE EFF does one "withdraw" their REEF coin from Uniswap/Metamask? I am using the Metamask browser extension in Firefox. I send ETH to it, swapped it for REEF, and now cannot find a single freaking button in either place, where I can send my REEF to another wallet... Absolutely clueless to how this system works. [link] [comments]  | ||
| Manually setting transaction fee when transacting using geth Posted: 24 Jan 2021 03:53 PM PST I am using geth to pay with ether at several occasions. What I just do is the following
In a transaction I did today I paid 0.00168 Ether ($2.30) transaction fees. The transaction was confirmed in under a minute. Is there a geth command to manually reduce the transaction fee if I am not in a rush to get my transaction confirmed? [link] [comments]  | ||
| NFT Market Sets New Records As Alien Cryptopunk Art Is Sold For $762K Posted: 24 Jan 2021 07:23 AM PST In the midst of a booming market for non-fungible tokens (NFTs), a rare alien CryptoPunk art was sold for $762,000. full story [link] [comments]  | ||
| Most popular layer2 scaling solutions? Posted: 24 Jan 2021 08:23 AM PST I know there are several Layer 2 scaling solutions, such as r/lightningnetwork, r/plasma, r/OMGnetwork, r/celernetwork, r/maticnetwork. I'm wondering where I can see a dashboard of activity of these solutions. I'd like to see how many transactions are performed on any of them. [link] [comments]  | ||
| Are exchanges running out of ETH? Posted: 24 Jan 2021 07:13 AM PST I saw a few articles about how the ethereum reserves were plummeting on exchanges about a week ago but I haven't seen any updates since then. Does anyone know if the reserves are still dropping or if they've recovered? [link] [comments]  | ||
| Buying ETH for the first time - any tips? Posted: 24 Jan 2021 04:35 AM PST Hi guys! I'm totally new to buying crypto currencies. I plan to buy 1 ETH first. Which site is the best to buy from (low fees and so on)? And do I have to do something else for example store it somewhere else? If yes, where? I plan to keep the ETH for a long time. Like I said I'm new to crypto currencies and I would really appreciate some answers! [link] [comments]  | ||
| Posted: 24 Jan 2021 11:34 AM PST A few questions re: ethereum scale as a distributed system, trying to understand it as a software geek. 1)If a block can only be mined every N minutes, and there are at most M transactions per block, does that mean that the maximum throughput of transactions in the system is Mx(24h/N) per day ? 2) What is a good model that shows overall system performance as the number of nodes goes up (therefore making consensus more difficult) and the transaction count increases? [link] [comments]  | ||
| I was told Kraken and MEW wallet is the way to go... Posted: 24 Jan 2021 05:08 PM PST Any objections? Going to buy eth in the next day or so.. [link] [comments]  | ||
| Posted: 24 Jan 2021 05:38 AM PST So I feel IPFS is kind of catching on. I see that 1inch.eth (any many other) CONTENT for their ENS to a IPFS address. How can one place trust in such IPFS URLs pointing to the REAL content, any not that someone just hogged the ENS-address and points to a malicious source? Thanks! (Until I have found some good way, I'll stick with the normal URL scheme) [link] [comments]  | ||
| I purchased on Robinhood :( asking for advice Posted: 23 Jan 2021 10:33 PM PST Hi guys, unfortunately I was dumb enough to "purchase" ethereum on robinhood app a few months back. I would like to get actual coin thats withdrawable so I can store it in a cold wallet. Would anyone recommend selling and rebuying at an exchange? or just hold what I have in robinhood and dollar cost average into more from an exchange? [link] [comments]  | ||
| My first cryptoart / NFT. Portrait Study of a Comedian (@SarahSquirm). OC. Posted: 23 Jan 2021 09:04 PM PST
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| Is there a way to get around the absurd gas fees? Posted: 23 Jan 2021 10:23 PM PST So I've been trying to stake Axion in a time-locked account but the gas fee to make the transaction from my MetaMask wallet is about $50 USD currently (and I thought the $10 I often pay for withdrawing was insane). Anyway, is there a way to get around this? How long until Ethereum 2.0 launches. Because I'm not sure how I feel about paying $50 just so I can stake. [link] [comments]  | ||
| How do you create 2 hardware wallet address accounts in metamask and switching them easily? Posted: 24 Jan 2021 07:06 AM PST Is 2 different address in the same hardware wallet for metamask possible? Right now I have to always reconnected and verify my wallet everytime i switch to one address or another.. Thanks! [link] [comments]  |
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