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    Ethereum Ethereum gas fee to the moon...

    August 27, 2021

    Ethereum Ethereum gas fee to the moon...

    Ethereum gas fee to the moon...

    Posted: 27 Aug 2021 09:06 AM PDT

    Mods, can we get a mega thread on gas fees?

    Posted: 27 Aug 2021 01:14 PM PDT

    There seems to be a lot of interest about gas fees in this subreddit, which is pretty understandable. However, it is affecting the quality of posts here.

    Mods, could we please consolidate the gas fee discussions into one mega-thread? I would propose banning all gas fee discussion outside of that thread.

    We can even use that same thread to educate users about the current situation.

    A few things that come to mind that are often repeated:

    1. Gas fees are high because usage is high.
    2. This is not easily solvable by other blockchains, due to the blockchain trilemma.
    3. This is not solved by EIP-1559. EIP-1559 solves other problems
    4. This will not be solved by ''ETH 2.0", ETH2 is the change from Proof of Work to Proof of Stake.
    5. This *will be solved by Layer 2. Lots of people are working on solutions. (See below)
    6. In the future, data shards will significantly decrease fees on these solutions, but not on L1.
    7. Gas fees are not at 1000 gwei all the time, as some screenshots might suggest. You can see the historic average gas price on gasnow.org

    The end goal of Ethereum is for users to do almost all their transactions on Layer 2 solutions. You''ll be able to buy some ETH on Coinbase, send it through Optimism or Arbitrum to something like Hop where you'll be able to hop on to immutable to buy an NFT, which you'll be able to move to another L2 where you can use it as collateral for a loan.

    Examples of Layer 2 solutions are:

    submitted by /u/oxyeth
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    Cuba's central bank now recognizes cryptocurrencies such as bitcoin

    Posted: 27 Aug 2021 01:37 PM PDT

    There appears te have been a chainsplit on Eth1, whats the news?

    Posted: 27 Aug 2021 07:27 AM PDT

    Any news guys?

    submitted by /u/Pragmaticdutchperson
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    Dimitra has one million farms using their ETH based solution. They just joined Unizen's incubator.

    Posted: 27 Aug 2021 01:43 PM PDT

    Bug impacting over 50% of Ethereum clients leads to fork

    Posted: 27 Aug 2021 02:27 PM PDT

    I just received a text from Coinbase saying I just changed my 2 factor settings verification. I haven’t changed anything. Even when I log in that msg. comes up. How do I change my pw? I can’t figure it out?

    Posted: 27 Aug 2021 02:14 PM PDT

    PayPal expands the ability to buy, hold and sell cryptocurrency to the UK

    Posted: 27 Aug 2021 07:14 PM PDT

    Early Uber Investor Bill Gurley Takes ‘Personal Position’ in Ethereum

    Posted: 27 Aug 2021 09:30 AM PDT

    Ethereum Name Services Integrate Fully with the Centralized Web

    Posted: 27 Aug 2021 03:24 PM PDT

    1/ For the first time $ETH’s daily issuance was lower than $BTC’s ETH net inflation: 3574 ETH (1.11% annualized) BTC net inflation: 900 BTC (1.75% annualized) A short thread on Ethereum’s recent surge in activity and potential implications of its decreasing inflation ��

    Posted: 26 Aug 2021 11:12 PM PDT

    When will we see massive L2 adoption?

    Posted: 27 Aug 2021 06:26 PM PDT

    Curious if anyone has any insight into why OpenSea isn't using Optimism or other L2 solutions or Polygon? For other dapps, are there any major obstacles preventing them from using any of these solutions? Looks like it would have a strong impact on reducing fees.

    If you think they will start using them, I'd love to hear your projected timelines too. Thanks!

    submitted by /u/DefiniteOptimist
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    Major hotel in Swiss Alps now allows crypto payments - 0.45 ETH./0.03 BTC per night

    Posted: 27 Aug 2021 01:35 AM PDT

    What is volatility and how it affects crypto?

    Posted: 27 Aug 2021 04:41 PM PDT

    2 types of volatility — external volatility (aka market) and implied volatility (aka internal). They are useful factors when understanding your assets.

    Factors Beyond Volatility

    Volatility is not the only thing you should care about when looking at your (crypto) assets. Also note the other data and factors.

    • Micro Economy: Inflation of assets
    • Macro Ecosystem: Market Conditions. Market could change and that affects the assets.
    • Past Data: Beyond micro and macro markets it's also good to look at historical data to look at past data to get some reference and understanding. Note: Past data does not define future performance

    Historical Volatility vs Implied Volatility

    There are two types of volatility. One is the market volatility and the other is implied volatility. In a very simple way it's basically historical volatility and future volatility.

    Historical volatility: It is based on past data and on all the information that is already given.

    Future volatility: It is based on people's expectations of the assets and here you calculate based on how people pay for the expected assets.

    Higher Volatility = Higher Risk

    The general notion about volatility is that higher volatility = high risk.

    Sometimes it is called educated gambling or educated speculation but it's not always true. The general notion of higher volatility means that the price will move more and when the prices move more, higher risk will be experienced. But it really depends on the trading strategy because that will help to mitigate different risks as when you have something with high volatility you can do something else to try and offset the risk or try to reduce that risk.

    What is Market Volatility?

    It's a statistical measure of how "spread" is the value from the middle average. More spread (like a pancake) means higher volatility. Less spread (like a mountain) means lower volatilty.

    1. Uses Past Data: It's historical volatility or using past data to get some understanding of where the asset is right now.
    2. Fluctuation of Returns: It is the fluctuation (movement) of the returns of the prices of the assets. It is measured by measuring the spread of the returns so you can think of it as two bell curves. One bell curve is flat so almost like a very low middle line and it spreads out very widely like a pancake. You have another bell curve like the Mount Everest so it has a very high peak and everything is very narrow towards the peak.
    submitted by /u/economicsdesign
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    What Does Ethereum 2.0 Mean for Scaling Solutions Like Polygon?

    Posted: 27 Aug 2021 07:00 AM PDT

    Investing in Ethereum through PayPal?

    Posted: 27 Aug 2021 09:59 AM PDT

    I will preface this by saying that I know next to nothing about crypto. That being said, it looks like Paypal allows you to buy and hold Ethereum and some other cryptocurrencies. Besides potential loss of principal as with any other investment, are there any pitfalls or anything people should be aware of before throwing some change at it each month? for example, $100/mo., buy through Paypal, hold for a while, sell later. Does anyone else do this?

    submitted by /u/esperlano
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    A day of frustration - Testing eth layer 2

    Posted: 27 Aug 2021 03:18 AM PDT

    I spent all day yesterday researching more eth later2 options.. joined all the discord groups.. chatted to the developers to try and get to the bottom of issues.

    And a few have real pain points.. it cost me a bit of cash to test em all.. but worth it. Because I don't think you can figure out the pain points of any of these without testing em.

    Most of these upcoming chains also act like side chains for eth :- .. sol.. avax..flow.. Ada.. all of em have one thing in common.

    The main issue :-

    • If you want to buy something that's on a dex on 'polygon'.. you have to buy a bit of polygon to pay for transaction fees.

    • If you want to buy something on a dex on solana.. you have to buy a bit of solana to pay for transaction fees…

    • if you want To buy something on a dex on 'Binance smart chain'… you have to buy a bit of bsc to pay for transaction fees.

    And so on…

    The issue is.. none of these side chains have everything you want.. and so you have to visit each one to get the token you want. This means buying a 2nd token on top of the one you want.. just to get it.

    And you can end up with a dozen or more of these extra tokens you don't want.. that you bought just to pay fees.

    If you could just pay everything with ethereum.. it would solve this problem.

    There is a solution.. just released.

    It's built into uniswap.. but Still an alpha release… Optimism

    https://optimism.io/

    No token needed.. just move to layer2.. and pay a few cents to use uniswap.

    We're about to see some serious liquidity drives and yield farming to get people to provide liquidity on layer2 uniswap. Which means some 500% + yield farming rewards.

    The key thing.. it's as secure as eth,layer1 and you pay all fees in eth. No need for another currency.

    And it's super fast.. just a second to complete a trade.

    Yesterday. I kept moving things onto other chains.. had to buy native tokens.. only to find there was none of what I went to buy on these chains .. it's very frustrating right now. So.. I've expecting this to bring everything together.

    You could say I'm 'optimistic' about uniswap + optimism making layer2 cheaper and less complex.

    submitted by /u/ElectricalCheetah175
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    Already posted a few times but here’s the Decrypt article on the chain split for those interested

    Posted: 27 Aug 2021 09:44 AM PDT

    What are the benefits of ENS?

    Posted: 27 Aug 2021 11:35 AM PDT

    Is the purpose of ENS purely to make a more user friendly wallet address system? I like the idea but am hesitant sinking anything substantial in gas if there isn't a huge upside or lots of future usage. But if that is going to become the norm I may as well pick an applicable one up now before they are unavailable/too expensive. Also, are <7 letter names available now? I keep reading only 7+ letter names are available but the articles that reference that are from 2018 and just saw Budweiser got beer.eth so I assume that has changed.

    submitted by /u/LucidiK
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    Ethereum long term

    Posted: 27 Aug 2021 12:32 PM PDT

    Hi, I've been using the ethereum chain for a while now for NFT gaming, since I started gas fees just go up.

    My question is, are they trying to fix this? And if so how much it'll take to make Ethereum usable again?

    submitted by /u/notacake100
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    Blocked by PlanB for gentleman's argument on Ethereum's advantages in a global deflationary environment. Details in post:

    Posted: 27 Aug 2021 03:48 PM PDT

    (OC) Are crypto regulators completely ignorant? CEOs of Coinbase and Bittrex compare their experiences getting regulated.

    Posted: 27 Aug 2021 03:19 PM PDT

    can ethereum be staked safely on ledger ?

    Posted: 27 Aug 2021 01:04 PM PDT

    Ethereum bug in Geth client exposed. New update fixes the security issue.

    Posted: 27 Aug 2021 10:50 AM PDT
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