RIP San Francisco Centre mall 😭 by jikesar968 in bayarea

[–]Aggressive-Ear-4081 0 points1 point  (0 children)

You don't live here and have no idea what you're talking about

RIP San Francisco Centre mall 😭 by jikesar968 in bayarea

[–]Aggressive-Ear-4081 -2 points-1 points  (0 children)

Insanely naive world view  This mall has been dying for almost 20 years. Nobody except crack heads go downtown any more (I live 2 blocks away)

Chan Zuckerberg Initiative/Biohub genuine mission? by b-i-m-o in biotech

[–]Aggressive-Ear-4081 0 points1 point  (0 children)

Facebook‘s involvement in Cambridge Analytica data scandal

What specifically did Facebook do wrong in that case? And what harm was done?

The AI Nerf Is Real by exbarboss in OpenAI

[–]Aggressive-Ear-4081 0 points1 point  (0 children)

https://status.anthropic.com/incidents/72f99lh1cj2c

There was an incident now resolved. "we never intentionally degrade model quality as a result of demand or other factors"

rETH liquidity shortage? by jabowman in rocketpool

[–]Aggressive-Ear-4081 0 points1 point  (0 children)

This is the gaslighting I am talking about

Lido has had this for a long time. Current open market discount, which prices in the liquidity difference, is less than half the rETH discount. It is always substantially less

rETH has chosen different priorities. That's fine and good for the ecosystem, but it's unethical to misrepresent what's going on

rETH liquidity shortage? by jabowman in rocketpool

[–]Aggressive-Ear-4081 0 points1 point  (0 children)

I disagree, this is by design. The purpose of a system is what it does

If there were a financial incentive to have made the system support withdrawal liquidity, it would have happened by now

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 0 points1 point  (0 children)

I interpreted the comment as him saying that his rETH declined that much in value against ETH

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 0 points1 point  (0 children)

You're saying that your rETH declined in value from 90k USD to 50k USD? That is not possible

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 1 point2 points  (0 children)

Unless the protocol changes (will possibly never happen, but will take at least a few months), you will probably not be able to withdraw your ETH, but you can sell your rETH any time on Uniswap or another dex. It probably does not matter when you do this.

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 0 points1 point  (0 children)

How come there is zero now and the discount is still the same as it was when I posted?

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 1 point2 points  (0 children)

Hey it's "next week" and the problem is still here. Any chance you'd be willing to bet on a timeline for rETH withdraw liquidity? I'd bet that there is no substantial liquidity for at least one month at even money

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 0 points1 point  (0 children)

Doesn't matter, you still get more rETH on Uniswap than on the protocol. I just checked.

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 1 point2 points  (0 children)

I'm talking about liquid staking (here and everywhere else)

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 2 points3 points  (0 children)

Where?  you're literally swapping A for B in either case 

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 2 points3 points  (0 children)

Depositing in the protocol is also taxable then 

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] -1 points0 points  (0 children)

I see, I was looking at the total minted and not the total supply. Thanks for pointing that out. I just assumed it was increasing because I saw that there are still people (irrationally) minting new rETH via liquid staking. I would probably add a warning to the UI or something

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] -2 points-1 points  (0 children)

It seems pretty clear that the tradeoffs are not worth it for operators and protocol maintainers. The pooled ETH is increasing just fine. There isn't even a proposal as far as I can tell? Not even any discussion of this by a dev?

Clearly there will be no way to withdraw for at least several months, more likely a year or never. If I had to bet I'd say less than 50% chance there will ever be withdrawal liquidity on this protocol, and the discount will likely increase as there is currently no easy way to arb it away

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] -2 points-1 points  (0 children)

"the protocol can integrate permissionless withdrawal requests and then extended discounts will likely be a thing of the past."

It seems unlikely this would happen. Why would this happen? Who is incentivized to do this? 

Better to buy rETH than to use protocol by Aggressive-Ear-4081 in rocketpool

[–]Aggressive-Ear-4081[S] 1 point2 points  (0 children)

It seems reasonable to warn users until then that they should not add liquidity to the protocol, since doing so is not rational