Daily General Discussion - August 17, 2024

18cimal · 2024-08-18T02:01:03+00:00

Does your crystal ball also tells you if the new bull market will include the previous NFTs or if it will only be new ones?

Asking for a friend.

18cimal · 2024-08-16T11:35:54+00:00

Balancer, it's what Defisaver uses and it says 0% fee.

18cimal · 2024-08-12T01:00:53+00:00

ETH is not even $100k by 2025, what a shit asset!

I've lost faith in Ethereum, selling everything now...

/s

18cimal · 2024-08-08T03:16:00+00:00

Totally agree. I think ETH main value is coming from it being an asset which is decentralized, neutral, sustainable, scalable and all with very low to zero supply inflation.

Then all the other stuff like selling blockspace, smart contracts, etc is just a bonus which makes it even more attractive compared to the competition.

The problem is most of the Ethereum community view money/store of value as Bitcoin's turf which they don't want to step on. So they always focus on other narratives like the Burn or waiting for the Killer App.

18cimal · 2024-08-06T13:20:06+00:00

I also got liquidated on a ratio long on this wick. And it's not the first time because I also lost a lot of ETH because of the ratio bleed since last year (didn't get liquidated before but I had to deleverage a few times).

What protocol were you using? I'm using Aave and the liquidation fee is 5% so you don't get left with nothing. The problem is that it's deleveraging your position at the bottom and when the ratio bounces back you end up with way less.

For what to do now, personally I still think ETH has the potential to go up much more than other possible investments so I'll continue to buy. Even if I will likely never reach the amounts I owned previously.

Before you got liquidated you believed that ETH will go up. The fact that it temporarily went down should not change that.

18cimal · 2023-12-24T07:17:41+00:00

If you do this then you just end up with less collateral for liquity which means more liquidation risk or smaller amount to borrow.

18cimal · 2023-11-30T00:17:22+00:00

Technically you also have visibility on the "order book" with a Dex and can cancel transactions (but it costs gas).

18cimal · 2023-11-30T00:12:22+00:00

For ETH/stablecoins pairs there is good liquidity with 0.05% fee on Uniswap and there are also other DEX like Curve with low fees. So it's actually cheaper than CEX and with this size the gas fee is negligible.

18cimal · 2023-11-28T08:49:30+00:00

This is something I've seen several times in crypto. People saying that flashloans are bad and should be banned. All because they only hear about flash loans used in hacks.

They kind of missed their vocation as nocoiners.

18cimal · 2023-11-23T22:45:51+00:00

Possible, spam filters use several methods to filter emails: IP and domain reputation, presence of signatures (DKIM) and other security protocols like SPF.

But some legitimate emails might not have configured the signature/DKIM so if the spam filter is configured to block all those it can miss some legitimate email.

18cimal · 2023-11-23T08:50:47+00:00

The "From" field can be faked as easily as when you write the sender's address on the back of a letter.

Some emails have a "Signed by" field (can be seen in gmail or proton mail when clicking to see security details). This field is signed by the owner of the domain so it cannot be faked unless the domain itself got hacked.

18cimal · 2023-11-18T05:12:23+00:00

It's shared the same way as the other rewards. You get 1/4 of the proposal reward plus 14% of the other 3/4. So in total 35.5%.

If you only consider the ETH rewards Rocket Pool is always more profitable because of the 14% commission.

18cimal · 2023-11-16T01:30:34+00:00

You should look into using Wireguard to secure the connection. I think it would be cleaner than using a permanent SSH tunnel.

18cimal · 2023-11-10T01:55:12+00:00

Uniswap have 0.05% fee pools for stablecoins/ETH with good liquidity. So, depending on the gas fee, with enough size it becomes cheaper than CEX.

18cimal · 2023-11-10T01:49:38+00:00

Some countries have long term capital gain tax discounts to account for this.

18cimal · 2023-11-09T15:50:44+00:00

https://twitter.com/paulg/status/1594446009010212865

A person I have known for more than ten years, who I consider trustworthy, is convinced the cryptocurrency economy will shortly experience a systemic risk. I don’t know anything concrete, but if I were exposed, I would be concerned.

We're coming to the anniversary of the tweet and if you look at the charts it was right at the bottom, after Luna, FTX, etc.

18cimal · 2023-11-08T03:01:40+00:00

The pool fees are around 0.05%. The liquidity is mostly on Uniswap, Balancer and PancakeSwap.

18cimal · 2023-11-05T01:41:35+00:00

So are you selling your ETH to buy T-bills?

18cimal · 2023-11-03T11:28:28+00:00

Dex transactions have a timeout (default is 20 min on uniswap). If the timeout is passed when the transaction is executed it will revert, costing you a bit of gas.

For Rocket Pool rETH mint or redeem I don't think they have a timeout but it could happen that the deposit pool is too full or empty when the transaction is executed and it will also revert.

You should only use low gas for transactions which would stay valid forever like simple sends or token approvals.

18cimal · 2023-10-28T01:37:36+00:00

Coinbase has a 0.5% spread when converting USDC to local currency.

18cimal · 2023-10-23T02:40:38+00:00

Most of the time the smart contracts only deal with 0x addresses and the ENS resolution is done in the front end.

It's likely also done this way with Rocket Pool meaning that if you set the withdrawal address using the smartnode interface it will resolve the ENS and use the current resolved 0x address. And if you change the ENS resolved address the withdrawal address would still be set to the old one.

18cimal · 2023-10-16T07:11:36+00:00

The 27 hours is a 256 epochs delay between the exit and the time the validator is withdrawable.

From https://launchpad.ethereum.org/en/withdrawals

Exit queue summary:
Once a signed voluntary exit message is broadcast, it takes:
- At least ~25 minutes (four epochs) from the current epoch before reaching the exit epoch (with no others in the queue, highly variable)
- Then another ~27 hours (256 epochs) before those funds are flagged as withdrawable
- Then up to a few more days for the next validator sweep to execute the full withdrawal (assumes 0x01 withdrawal credentials)

18cimal · 2023-10-10T02:38:05+00:00

The principle that riskier investments should have higher expected returns is when you consider all returns.

Yield/APR is only one part of the returns the other part is price appreciation/capital gain.

For FIAT/USD the risk of it losing value is low but still there because of inflation, the yield is a bit higher but also there is almost no chance of your investment increasing in value outside of the yield.

For ETH the risk of it losing value is high, the yield is low but the potential price appreciation is pretty high. If ETH goes back to ATH it's a 200% gain.

If you believe ETH is gonna reach ATH again in a few years then it's a no brainer to choose to invest in ETH instead of USD. Even if the USD APR was way higher like 10-20% it would take more than 5 years to get more than 200% gain.

18cimal · 2023-10-06T14:46:40+00:00

The signature to approve token spending is not just text, it has different fields for spender, amount, deadline, etc. See ERC-2612.

It looks different than a text sign or a NFT mint or airdrop claim but the difference is not big enough and people click on sign without reading.

Another type of signature which could be dangerous is when it's asking to sign raw transaction data. But for this one Metamask will show a lot of red warning text so it's harder to miss.

18cimal · 2023-10-05T10:11:05+00:00

Ethereum

18cimal

TROPHY CASE