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    Home Unlabelled Ethereum Been casually making (and losing) money trading ethereum and alt coins. It’s probably time to learn what they actually are 😅

    Ethereum Been casually making (and losing) money trading ethereum and alt coins. It’s probably time to learn what they actually are 😅

    March 06, 2021

    Ethereum Been casually making (and losing) money trading ethereum and alt coins. It’s probably time to learn what they actually are ��

    Been casually making (and losing) money trading ethereum and alt coins. It’s probably time to learn what they actually are ��

    Posted: 06 Mar 2021 03:08 PM PST

    Some initial brainstorming on how we could increase address sizes

    Posted: 06 Mar 2021 08:10 AM PST

    Noob question: is it possible to create a nft that slowly destroys an image bit by bit with every repurchase?

    Posted: 06 Mar 2021 08:39 AM PST

    I'm a film photographer based in Amsterdam and though it would be a interesting idea to scan a film slide, destroy the physical slide and sell it as and nft that slowly fades/ages as with every purchase made. it ultimately disappearing completely depending on how many times it's resold.

    Any Feedback is welcome Thanks :)

    submitted by /u/Strike_Bitter
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    NFT -- Lets have a serious talk, a lot of you don't seem to understand what they are.

    Posted: 06 Mar 2021 03:26 PM PST

    A lot of people are treating NFT like they ARE the asset they represent instead of what they really are and have been since the crypto punk days when they were first conceived on the Etherum network. This is a fundamentally wrong way of using them.

    Yes, you could theoretically store an image or a small bit of text in the meta of an NFT, but you're going to pay massive amounts of money just to put it on the chain. Back when ETH was around $500/eth we're talking $2k per mb, so now... with gas prices what they are and ETH @ $1.6k... shittt..... you could be looking upwards of $10k for 1mb.

    In reality most the time the NFT stores simple meta data and points TO someplace that the actual asset is stored. So these complex concepts you guys are trying to place on them needs to be reeled in. NFT at their core are titles, like you'd have for a car or home. They define some information about the object, but are NOT the object. You also need to realize that without a legally backed construct such as a trust which recognizes the NFT, you can not legally sell a real world titled asset using an NFT. Nor are untitled assets (drawings, pencils, brushes, etc) ownership recognized by possession of an NFT, legaly.

    Yes there are a few examples of when NFT can BE the assets, but that's mostly in the ticket space where an NFT can be a 1:1 representation of a ticket. This space still has flaws though, because you either have to trade the NFT out of your wallet or trade eth out of your wallet to confirm you own the wallet the ticket exists in (and thus exercise the purpose of the ticket). So you end up paying whatever gas fees are at the moment to exercise your ticket, which makes the whole experience effectively worse than alternatives.

    If people don't get a grip on what NFT are and this 6million dollars for "ownership" of part of a YouTube video don't stop, we're going to have some SERIOUS overcorrection by governments in regards to them defining what OWNERSHIP is.

    Here's some reading: https://opensea.io/blog/guides/non-fungible-tokens/

    submitted by /u/midri
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    Wouldn't the EIP1559 "tip" essentially be the new gas fee?

    Posted: 06 Mar 2021 07:47 AM PST

    I could see miners preferring tx with a tip, thus creating a new fee market there? So, in times of congestion the user would have to tip more and more to get fast processing? Or maybe i'm not understanding how the tip would work?

    submitted by /u/PlayedCougar
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    Ethereum gemstone. No NFT links here, just want to share my creation and get some feedback/ideas for more artwork :)

    Posted: 06 Mar 2021 07:07 PM PST

    Announcing Rollup Community Grants: An Ethereum Foundation sponsored wave targeting L2 Scaling. Submit today!

    Posted: 06 Mar 2021 07:32 AM PST

    What Are The Next Biggest EIP's or Moves for ETH now that 1559 Has Passed?

    Posted: 06 Mar 2021 11:06 AM PST

    Ethereum Hard Fork. Does this mean all ERC-20 tokens will duplicate? Or just the Ethereum token?

    Posted: 06 Mar 2021 02:52 PM PST

    If ethereum goes through a hard fork in july, what happens to all the ERC-20 tokens? Are they going to split in two across both chains as well? Will uniswap get cloned across both blockchains too? I'm just trying to wrap my head around the hard fork

    Bitcoin hard forks produced new coins like Bcash and BSV, but these chains didn't have other tokens on their platform (obviously)

    What happened with Ethereum Classic, did it have alt coins at the time? If so did they get duplicated across both chains? Thanks for the insight

    submitted by /u/Wealth_Either
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    Please Help - can someone help recovering from the DAO contract?

    Posted: 06 Mar 2021 11:49 AM PST

    I invested in the DAO and thought that the funds were gone for years, only discovered recently that they are actually still recoverable?

    Does anyone know how i can get the funds out?

    Transaction: https://etherscan.io/tx/0x5d2ef7e141048f798eb20d73ab161888e9bddc36634d5162f19d521d99488703

    submitted by /u/arcadot
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    How will EIP-1559 lower fees?

    Posted: 06 Mar 2021 02:18 PM PST

    From what I understand, the current auction fee system will be replaced by a variable base fee which will be burned, plus an optional "tip" for the miners. This would incentive miners to choose the blocks with the higher tips. How is this different from the current auction system? This feels like it's basically the same fee system with extra steps

    submitted by /u/Astronaut-Remote
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    Which wallet is best for Ethereum?

    Posted: 06 Mar 2021 09:09 AM PST

    Hey guys, new around here.

    I'm looking into buying some Ethereum for long-term holding, but I'm pretty undecided as to which wallet would be safer, Google hasn't brought me super far either any tips would be appreciated.

    submitted by /u/zonderl1ng
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    Transacted nothing and now I can't pay gas fees?

    Posted: 06 Mar 2021 05:40 PM PST

    https://etherscan.io/tx/0x79576ab9eb9603480ecd340257f97d5a8df1286b5123c2f517010a2aea1c0ee6

    I'm not even sure what happened.

    It's nice that there's a lot of interesting tokens available but this situation is absolutely silly. Somehow I transacted nothing and was charged for it when trying to sell my tokens and now I do not have enough to pay gas fees for another transaction?

    Is my only option to purchase more ETH, transfer ETH to that wallet and pay even more fees?

    submitted by /u/Necessary_Deal_603
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    Two probably dumb technical questions about proof of stake security

    Posted: 06 Mar 2021 07:58 AM PST

    I was reading about how proof of stake consensus works on ethereum.org here but I have two questions:

    1. How do we elect which validator actually creates the block? I know it's random but how does that random calculation work? I read about Randao, but is that model secure enough to help pick a validator? Wouldn't it be insecure if the randao contract itself was running on the same blocks it's helping to select who gets to mine? Could a malicious actor exploit how random numbers are chosen here so that they get to always be the validation who creates a block?

    2. What is the benefit of having many validators agree on checkpoints? Why is it insufficient to just randomly choose a validator to create a block, and if everyone is running a node with the same consensus rules then nobody would consider using/building on top of a malicious/incorrectly constructed block

    Thanks, and sorry if these are obvious/dumb questions

    submitted by /u/dont_forget_canada
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    How to create a warning on top of an address in Etherscan?

    Posted: 06 Mar 2021 02:36 PM PST

    Today I came across this https://etherscan.io/address/0x905315602ed9a854e325f692ff82f58799beab57 while reading about Cream Hack

    I wonder how this warning is created?

    https://imgur.com/RE8XIgz

    submitted by /u/nightless_hunter
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    Don't use cent to buy tweets (or any other closed source system that is)

    Posted: 06 Mar 2021 02:12 PM PST

    Just found out you can get loans on Ethereum, but AAVE sounds too good. Is there a catch?

    Posted: 06 Mar 2021 01:48 AM PST

    So guys, I hope this isn't off topic. I recently had to spend some money and unfortunately sold my ETH. Then my friend told me I could just have gotten an AAVE loan for USDC for like 8% interest a year, meaning if I borrowed 1k USDC, I'd have to pay 1080 USDC after a year.

    Is it really that simple? It seems like a very cheap borrow. When I hear the word "borrow" I expect to have to pay at least 60%, 70% interest a year, so this sounds really interesting.

    submitted by /u/_bush
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    Satellite - Digitally Signed Social Media

    Posted: 06 Mar 2021 09:41 AM PST

    How can I buy ethereum without Verification or ID

    Posted: 06 Mar 2021 08:26 AM PST

    The reason I want to do so is because I live in third world country and we only have virtual credit card. And the big trading platform doesn't accept virtual card. The card must be in your name.

    submitted by /u/WA637
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    General Inquiry Re. Software Wallet Security and Cold Wallets

    Posted: 06 Mar 2021 09:34 AM PST

    Hey all,

    My background is pretty "all-over-the-place" re. the crypto scene. I am currently lacking in some information regarding the storage of currencies, though.

    I have been interested in Ethereum because of it's utility, and currently have some stored on a site hot-wallet.

    For practical purposes, I would like to move this to a software-based wallet (Cold storage would be inconvenient, currently).

    Currently, the considerations are Exodus and MetaMask.

    My question regarding these platforms is:

    - If I have a system with one of these installed, if the software is closed, or not running, are there still security issues? Do they have background processes? What are primary concerns with software wallets?

    - If you make an image of your Operating System on a regular basis, isn't this essential backing up the private keys in the software, and functioning as an equivalent to cold storage?

    Thanks all!

    submitted by /u/PuddleCheese
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    How does PoS affect EIP1559?

    Posted: 05 Mar 2021 08:23 PM PST

    Hi guys. With the recent EIP 1559 announcement, what happens when eth switches to PoS? Does the eip become irrelevant? Or does the gas burning etc remain in place?

    Thank you in advance.

    submitted by /u/redflexiseal
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    How to make sure an ERC20 token withdrawal doesn’t fail? Please help

    Posted: 06 Mar 2021 11:24 AM PST

    Hello fellow crypto enthusiasts,

    I'm asking for help in trying to withdraw some Lukso coins I have on My Ether Wallet. Trying to deposit them into KuCoin exchange since they're one of the only exchanges that list LYXe.

    One of my transactions failed a few weeks ago and I lost like 70$ worth of ether, so I reallyyyy want to avoid that happening again. I got about 180 coins thru the ICO. Wish I got more because Lukso is actually doing really well, which is why I don't mind spending like 100$ to withdraw them.

    Anyway, can anyone tell me how to withdraw my tokens from MEW to KuCoin without it failing? What should I set the gas limit as? I'm worried if I set it to the max I'll pay like 300$ and on the other hand I want to avoid what I did last time which is set it too low (even though it still cost about 70$!).

    Thanks for your help!

    submitted by /u/paddle4
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