• Breaking News

    Saturday, January 2, 2021

    Home Unlabelled Ethereum Just bought $20,000 of ETH.

    Ethereum Just bought $20,000 of ETH.

    January 02, 2021

    Ethereum Just bought $20,000 of ETH.

    Just bought $20,000 of ETH.

    Posted: 02 Jan 2021 05:27 PM PST

    Feeling in a "fuck it" mood. Used Coinbase. ETH is all I bought. Also set a $250/week recurring buy order, logged out of the app, uninstalled it, and will check it next new year's.

    Cheers mates and good luck to us ALL! HAPPY NEW YEAR!!!

    EDIT (proof): https://i.imgur.com/hKphiQk.png

    submitted by /u/jamesakillroy
    [link] [comments]

    Do you even custom nonce?

    Posted: 02 Jan 2021 04:43 PM PST

    Thoughts on Ethereum, Commodification and Human Relationship: What Are We Really Building Here?

    Posted: 02 Jan 2021 09:14 AM PST

    TLDR: There are ends beyond DeFi

    Hello fellow ethereans, I hope you don't mind me having posted this on r/ethfinance a couple days ago. Not sure how much crossover there is between the subs, and I would love to hear some feedback on my thinking here!

    These thoughts were prompted by Vitalik's lovely Endnotes on 2020, Ray Dillinger's recent statement entitled 'Bitcoin is a Disaster and some subsequent discussion in the daily, as well as the simple realization that 2020 gave us: things can get out of hand very quickly.

    Normally I wouldn't post something like this because my idea is not fully formed, but also if I wait until the idea is fully formed I will never post it. I know this is not necessarily the best forum for such a long post, and it seems like the daily gets a lot more action here than individual posts, but I don't write often so I don't really have many other places to put this.

    I am extremely bullish on the price of eth denominated in USD, but one of the reasons for my bullishness is that it seems the world has an addiction to quantification, financialization and commodification. Ethereum enables this commodification, but may bring with it some negative externalities, namely increased abstraction and increased consumption.

     

    Increased Abstraction

    This one may be pretty obvious for anyone following defi but abstraction and abstraction of abstraction is simple with ethereum. This talk entitled Money and Debt and Digital Contracts from Brewster Kahle at Devcon 5 is fascinating. In it he defines debt as quantified, transferable obligation, and goes on to describe how debt is the basis of our money systems. Essentially, most money today is future value abstracted into the now. Obviously ethereum is the best place for debt to live, but soon we will have quantified, transferable everything: socks, insurance, pieces of real estate… and it will all sit on top of ethereum if we are right.

    In the talk, Kahle describes the concept of the Hebrew Jubilee, which essentially de-commodified and de-abstractionized society every 50 years. What once had a price (in the form of debt owed): land, crops, future years of servitude, etc was definancialized as a way of stabilizing society. This release valve was built as a peaceful way of avoiding societal turmoil. Kahle even points out that every civil war during the period studied leading up to the time of Jubilee was a debt war. If we are dealing with a tool that makes it much more simple to commodify everything then we are also building an economic system that will quickly pile up abstraction. And with trustless smart contracts, it won't be simple to reset this abstraction. Following this logic, building a more financialized society on ethereum may also be building a more socially unstable society.

    As Wendell Berry says, 'it all turns on affection'... or at it's base, the value and longevity of a thing or place people use comes from human care for that thing, not from the fact that it was financialized or can be exchanged. Movement away from 'the order of loving care' is especially concerning in the commodification of farmland which has gone from being controlled by generations of people who could expect their grandchildren to live on that land, to being controlled by multinational corporations with an obligation to care for the place only insofar as a profit can be extracted from it. This is not to say that the ethereum community alone has the responsibility to reverse trends of commoditization, but it should be wary of the ability to tokenize real places and further abstract their value.

    Personally, I am hopeful for the new things on ethereum that may have a monetary cost to execute, but value measured in more than money. These things will not be abstractions, but real and new things (or as real as non-physical things can be). The things I am most excited about are non-financialized projects like identity systems, forms of collaboration and mutual aid. I would love to hear of more examples of non-financialized value being created on ethereum.

     

    Increased Consumption

    The concept of induced demand is that when infrastructure gains more capacity, demand rises to meet that capacity. This is true with road building in the world of transportation, and we have seen this with online shopping as Amazon built out highly efficient retail infrastructure. I think for roads and Amazon the unsustainable results of increased infrastructure capacity are obvious. If ethereum is a novel and vastly improved infrastructure of value, then surely there are some unforeseen real world implications for this new capacity. In transportation, a recent response to some of the negative externalities caused by highway infrastructure (congestion, high maintenance costs, long commute times) has been to destroy them completely. I am not suggesting we shut down ethereum before the party even gets started, but I am suggesting some of the most valuable things that could get built on ethereum are not more efficient ways of commoditizing and financializing things in order to serve human consumption patterns.

     

    Making Ethereum More Human

    Because of my concerns regarding abstraction and consumption, I hope that we are able to use ethereum to do more than defi, which so far seems to just be a (much) more efficient tool for financialization. As Vitalik alluded to in his discussion of the changing role of economics in 'Endnotes on 2020', economies seem to be eating politics and notions of democratic processes… or maybe more broadly, 'money is eating the world'. Related listening is this compelling discussion from Yanis Varoufakis: Is Capitalism Devouring Democracy? (I don't necessarily agree with his approach btw). If eth is 'programmable money, though, then maybe we should be careful of what it's eating.

    Ethereum can allow relationship-less transactions, which is good for achieving certain tasks, but we should remember it is good to be trusted and to trust. If you don't have some level of vulnerability to and trust in another person, you don't have relationship. Blockchains allow for 'trustless transactions' - and when they do, they make us rely on fewer humans for our daily needs. Blockchains are absolutely a fantastic alternative to centralized intermediaries (like banks and big tech firms) meeting our needs, but they are also not a replacement for human relationship. If a trustless blockchain (or other impersonal piece of infrastructure like Amazon or a highway) can achieve what we want, public discourse can become more divided and alienating because we need to cooperate with fewer and fewer people to survive. Eric Klinenberg has a fantastic discussion of what he calls 'social infrastructure' in the physical world in his book Palaces for the People. Vitalik also hit on this sentiment in his year end post, in his discussion of 'digital nationalism'. I hope that ethereum can enable trustless transactions where they are helpful, but also that it can help us remove trust in centralized third parties and grow trust in the people we know and who live nearby to us, a kind of 'economic social infrastructure'. I think that human connection, collaboration and relationship still holds serious value in making the world turn, and I hope we don't forget it.

    submitted by /u/crandallberries
    [link] [comments]

    Buying $14k worth of ETH tomorrow. Advice.

    Posted: 02 Jan 2021 08:01 PM PST

    I know I'm probably a little late to the party but I just now have the money to justify this kind of investment.

    I've spent the last month looking at the prices go up and regretted not buying the day before, and the week before and I've had it now. I want in. I am of course pretty new to this so I'm just looking for a reality check. Am I being stupid here?

    I plan to sit on the ETH for at least a year. Still learning about BlockFi and might want to give it a try too.

    Would you do it? Or would you wait for the next big dump?

    Cheers.

    submitted by /u/satysat
    [link] [comments]

    Why is there no daily discussion thread?

    Posted: 02 Jan 2021 10:37 AM PST

    ELI5 - Can we have an Ethereum based stock exchange and what will that look like?

    Posted: 02 Jan 2021 01:57 AM PST

    I'm a bit of a noob when it comes to crypto and I'm trying to extrapolate the potential uses of ETH. In October of this year, Venezuela announced their stock exchange is now ETH based. Clearly ETH has the potential and ability to not just replace entire stock exchanges, but make them better in the process with improved integrity, lower fees, and smart contracts. Is this the future direction of ETH's application in the US and potentially the world? Will other countries, follow Venezuela and use ETH for stocks? Why or why not? How will this affect the price of ETH? If stocks, as one asset class, are used on ETH in the form of smart contracts, how will this affect the price of ETH as a currency? What barriers exist preventing ETHs application in this form globally and in the US particularly?

    submitted by /u/boochi_cannon
    [link] [comments]

    Digifox

    Posted: 02 Jan 2021 05:23 PM PST

    Hi there,

    I've recently started a community about Digifox: r/digifox/

    I truly believe in what these guys are doing, they have a solid reputation in the crypto community and the app makes it real easy to access coin my exchanges don't have, especially the promising smaller Defi tokens.

    submitted by /u/hodreegoo
    [link] [comments]

    Blockchain Gaming: Market Size

    Posted: 02 Jan 2021 05:18 PM PST

    does anyone have any good research on how big the blockchain gaming space is? trying to size the potential NFT opportunity in that market...

    submitted by /u/dt_22
    [link] [comments]

    file.video -- decentralized video hosting for everyone, via Livepeer and Filecoin

    Posted: 02 Jan 2021 05:00 PM PST

    Storing proof in blockchain

    Posted: 02 Jan 2021 10:16 AM PST

    Was thinking of building a website which offers proof that the messages/posts on there where written at that time and with the same information/text. So is there any way to post this info in a current blockchain to then use as proof in the future? I am not looking to send/recieve crypto but a small cost to include each post in the blockchain would be ok.

    submitted by /u/Danksterrrrrrr
    [link] [comments]

    Question on Dropped and Replaced ETH GAS

    Posted: 02 Jan 2021 03:52 PM PST

    Happy New Year to the community!

    Quick question, if I have a TX that's been running for a while and I decide to "speed up" the TX. When it is complete I see a gas price that's different from the original. Does this mean I was charge gas fees twice (original and new gas fee)?

    submitted by /u/kuriputo
    [link] [comments]

    Buying and transferring to e-wallet

    Posted: 02 Jan 2021 12:04 PM PST

    Hello everybody, I am new here and have just set up and e-wallet with Metamask. I am currently trying to find out where I can buy ETH and have it transfer to my wallet? Will Etoro allow me to do this? Thank you!

    submitted by /u/GalaxxyGuy
    [link] [comments]

    How does Optimism work?

    Posted: 01 Jan 2021 11:41 PM PST

    Can somebody give an overview of what Optimism (L2) is and how it works? I'm a programmer but I don't know much of the inner workings of ethereum and I'm curious

    submitted by /u/Mister_Eth
    [link] [comments]

    Manually edit ETH 2 deposit file? Safe?

    Posted: 02 Jan 2021 03:05 PM PST

    Been playing around with the eth2deposit-cli to get a better understanding of the process. If I enter the same mnemonic, I see that if I open the deposit files with a text editor, the information created will be identical for the number of validators created (i.e., if I create 10 validators initially, then redo the process for only 3, the pubkey, withdraw_credentials, amount, signature, etc... will be the same for the first 3 validators in each deposit file). When I open the keystore files, only the pubkeys are identical.

    Two questions: 1) If I create a deposit file for a bunch of validators, can I modify it using a text editor over time as I make deposits? For example, if I create a deposit file for five validators. Then use the launchpad and initiate the first 2. At a later date, can I delete these from the deposit file in order to use the launch pad to activate the last 3 validators?

    2) Does the name of the deposit file matter when using the launchpad? From what I've gathered, the number following deposit-data will mirror that of the keystore file if only 1 validator is created. If multiple validators are created, the deposit-data file name appears be the next consecutive number. If I modify the deposit file in accordance with the first question, can I name the file whatever I want when uploading it with the launchpad?

    submitted by /u/ENashton
    [link] [comments]

    Which wallet are you using?

    Posted: 02 Jan 2021 06:20 AM PST

    Im planning to get Trezor at some point but in the mean time, I am looking for safe wallets for android and desktop.

    I'm currently using ImToken and MetMask..

    submitted by /u/eavesdroppingyou
    [link] [comments]

    I don’t know my Jaxx Classic phrase but have a screenshot of the wallet, is there anyway to recover this?

    Posted: 02 Jan 2021 01:24 PM PST

    ELI5 - New ACH built on ETH?

    Posted: 02 Jan 2021 09:33 AM PST

    Let's say the USA government wants to build a new ACH network with almost instantaneous transfers.

    Would ETH be secure enough for it? What would be the advantage/disadvantage if they build their own cryptocurrency from scratch?

    submitted by /u/takukuku
    [link] [comments]

    ETH2 withdrawal

    Posted: 02 Jan 2021 02:15 AM PST

    Sorry if this question seems obvious to some, but not me. So, I set up an ETH2 node and during the process I generated 'validator keys' and set a password and a seed phrase. I used Metamask to send the 32 ETH to the contract. When, at some point it becomes possible to withdraw the 32 ETH, how would that work? Will you simply be able to use the same Metamask wallet to access the 32 ETH? That wasn't really made clear during the process.

    submitted by /u/spectre_mandica
    [link] [comments]

    What's the solution to the problem of immutability and random sending?

    Posted: 02 Jan 2021 07:54 AM PST

    Let's assume somebody uploaded a pedophile pornography to IPFS and minted NFTs containing the IPFS link to it.

    And also let's assume this person somehow sent it to my wallet (or yours) and found out the address based on my on-chain activity (history of P2P transactions via opensea, participating to DAO governance can easily identify at least the wallet is owned and controlled by a person).

    Questions;

    1. How to remove the illegal content that's already uploaded on a blockchain? Or could there be any other solution to this kind of problem?
    2. Legal risk and liabilities of unintentional receiving of such contents.
    3. How to sort out criminals (pedophiles in this case) from unintended receivers?

    edit: i think we all kinda agree on the fact that hardcoding certain condition is bad for the chain which results Q1 and Q3 to be not having a clear answer. and the internet is similar in this regard. If you think Q1 and 2 isnt the part where potential solutions to be implemented and ethereum left open to this malicious behavior, Do you think is it a problem?

    submitted by /u/jasz3217
    [link] [comments]

    Benefits to MyEtherWallet?

    Posted: 02 Jan 2021 11:30 AM PST

    Relatively new to crypto but I've got the gist on most things.

    I just want to play Dark Forest. I purchased what I'd call a "usable" amount of Ether in MEW to use for Dapps when I wanted to. You need xDAI for Dark Forest, so I was about to "swap tokens" thru MEW for like 2 DAI, and the transaction was going to be like $23! Not to mention $3 for every single transaction (including movement BETWEEN accounts thru the app, so anything less than the transaction fee left in the wallet is just lost Ether).

    From the looks of it Gemini does it all: no fees to withdrawal or exchange tokens, minimal fees to buy with fiat outright, and holds multiple platforms for crypto.

    Is there any reason at all I should keep MEW? It seems like it's more tied into Ethereum's platform than Gemini but I'm not sure that matters if I'm not a hardcore programmer or developer.

    submitted by /u/carthaginianslave
    [link] [comments]

    DAI Vs USDT Vs TUSD Vs BUSD Vs USDC

    Posted: 02 Jan 2021 11:12 AM PST

    I'm losing grip about all those stable coins. Do you think they are all really baked by read Usd deposits? (except for DAI which is smart contract regulated).

    Which one do you believe as more safu?

    submitted by /u/Faghe
    [link] [comments]
    Read more
    at

    No comments:

    Post a Comment