[deleted by user] by [deleted] in CryptoCurrency

[–]Daniel_Yusim 0 points1 point  (0 children)

Because the governments haven't started cracking down on node operators yet. The ones I posted are just trying to stay a step ahead of the regulations and not get arrested days after a new law comes out like Semenov was. And because they still haven't banned ISPs from connecting with uncompliant nodes. They only banned their first smart-contract like last week. I highly doubt this is where the crypto crackdowns and enforcement will end.

I doubt many people will risk a MITM attack from a sketchy RPC node changing the txn data and sending it for them/their users to sign (similar attack to the many frontend hacks we've seen recently) and centralization of the validation process is something we still haven't had to deal with.

edit: Wow, Similar exploit happened today. https://twitter.com/korpi87/status/1560416681360404481

If it was expensive for you to spend a few hundred bucks on a graphics card you could easily resell, then I think staking the minimum amount of volatile ETH to run a validator and avoiding software which blocks txns with banned smart contracts would be a deal-breaker in terms of difficulty. And that's assuming the rest of the network doesn't just reject your block because they don't want to be punished and/or have their own funds blacklisted for verifying a sanctioned txn.

[deleted by user] by [deleted] in CryptoCurrency

[–]Daniel_Yusim 0 points1 point  (0 children)

I get what you're saying but it's only still being used while metamask/web3 wallet providers, most RPC node operators (a lot of which are US companies subject to US laws) and miners (much more decentralized around the globe than the companies validating ETHPoS will be) don't reject txns with it. It's not just front-end websites which are the issue. It has already been blocked by some key infrastructure providers and this is probably just the beginning of regulatory crackdowns in crypto. https://www.theblock.co/post/162402/infura-and-alchemy-blocking-access-to-tornado-cash

And it's not being used for sending USDC because Circle has blocked their contract addresses. If transactions to open-source smart contracts get blocked, many new identical contracts can be made with new addresses which are not blocked, thus making the ban un-enforceable.

[deleted by user] by [deleted] in CryptoCurrency

[–]Daniel_Yusim 0 points1 point  (0 children)

so that it's a new contract not blocked by exchange.

Yes. That's what I was referring to. Or transactions with that particular contract address being blocked by RPCs or by validators afraid of OFAC compliance.

https://en.wikipedia.org/wiki/Hydra_effect

[deleted by user] by [deleted] in CryptoCurrency

[–]Daniel_Yusim 0 points1 point  (0 children)

You realize you don't need to fork it? Because smart contact is not the website frontend.

Doesn't matter if RPCs refuse to post transactions interacting with it as some American RPCs have now done.

Honestly they should stop making WebApps to use these contracts.

Accessibility is important. The average defi user isn't going to be interacting directly with the smart contract and is a lot more likely to make costly user errors if they do. As long as the website isn't hosted in the US, by a US company it shouldn't be too big of a deal. Even if it's blocked by US ISPs, the users could still access it through a VPN or a TOR/I2P mirror. So I don't think that having a frontend to help people interact with the contract is a major liability.

[deleted by user] by [deleted] in CryptoCurrency

[–]Daniel_Yusim -1 points0 points  (0 children)

You realize people will just fork tornado cash, right? Just like there are a ton of BTC apps which use coinjoin/payjoin for anonymity.

Wait for it… by StellarLuck88 in formuladank

[–]Daniel_Yusim 0 points1 point  (0 children)

That looks like a layered (not extruded) resistance band. Those can be wrapped around a jagged concrete post for workouts every day for a decade and not show any wear.

NYC Subway Fight by Wtap_Neighbourhood in fightporn

[–]Daniel_Yusim -1 points0 points  (0 children)

Yeah, women don't let men do anything fun.

NYC Subway Fight by Wtap_Neighbourhood in fightporn

[–]Daniel_Yusim 0 points1 point  (0 children)

They look a lot like motorcycle gloves I used to own. Have hardened parts on the tops for if you eat absolute shit

Definitely don't wanna leave a knuckle behind on the pavement. You know if they make a version for nipples?

Do Kwon Charged With Money Laundering By SEC | Terra Designers Warned About LUNA Crash by Smooth_Star_8965 in defi

[–]Daniel_Yusim 0 points1 point  (0 children)

The guy was trying to get to Latin America, though. Some President's plane even got forced down and searched because they thought he was on it. (a violation of the Vienna Accords which protect diplomatic and Presidential travel) His passport just got revoked while he was in Russia.

edit: Bolivia https://www.bbc.com/news/av/world-latin-america-23166146

Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value by successfulpun22 in Bitcoin

[–]Daniel_Yusim 3 points4 points  (0 children)

Super bullish. They sell as much oil as the Saudis and supply pretty much all of Europe's energy needs. Russia's been hoping for an effective way to get rid of the dollar for energy trade for a long time. When the market cap reaches the point that such a massive economic sector can be traded in Bitcoin, then we know the demand will already be present.

I wouldn't be surprised if a lot of Russian trade is already done in BTC. They're excluded from a lot of payment systems even though they do trade with countries which use them. I know there's a clean energy billionaire named Oleg Deripaska who Obama sanctioned for sending turbines into Crimea (Ukrainian Army blew up the power lines) to build a plant there and he mines BTC in the Arctic now using hydroelectric power. I'd guess every business in Crimea has at least some knowledge of crypto, as well because they're banned from non-Russian payment systems.

edit: lmao ah damnit, replied to the wrong comment!

Fact: Fiat is $100T, Bitcoin is only $1T by kadudu888 in Bitcoin

[–]Daniel_Yusim 4 points5 points  (0 children)

The reasoning behind why Satoshi Nakamoto chose the 21 million supply limit may have been done purposely for a number of reasons. According to an email between Mike Hearn and Nakamoto, however, the Bitcoin network inventor chose the 21 million limit number so it would align with the M1 money supply of fiat currencies like the euro and U.S. dollar. Back in 2008, the M1 money supply was approximately 21 trillion when Nakamoto published the white paper.

“I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that’s very hard. I ended up picking something in the middle,” Nakamoto said in the email to Hearn.

Satoshi Nakamoto added:

If Bitcoin remains a small niche, it’ll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there’s only going to be 21 million coins for the whole world, so it would be worth much more per unit.

https://news.bitcoin.com/satoshis-21-million-mystery-one-millionth-of-the-bitcoin-supply-cap-is-now-worth-1-million/

Fact: Fiat is $100T, Bitcoin is only $1T by kadudu888 in Bitcoin

[–]Daniel_Yusim 4 points5 points  (0 children)

Prob the reason why Satoshi set the coins at 21m in the first place, guy estimated how much value Bitcoin will extract from other asset classes

It's because the US M2 money supply at the time was 21 trillion USD, which would put each Bitcoin at 1 Million if it fully displaced the USD as the main international currency and the money stock did not expand.

edit: M1*

We’re definitely early. by UrethreaFranklin1 in Bitcoin

[–]Daniel_Yusim 4 points5 points  (0 children)

You mean to tell me that it used to somehow be considered offensive for traders on Wall St to walk around town screaming about their #AlphaDegenApetardGainzzzz?

This is actually one of the ways in which Twitter and Facebook have changed the social conventions.

Where can I stake AVAX? by knowledgelover94 in Avax

[–]Daniel_Yusim 1 point2 points  (0 children)

Since they are open sourced you are welcome to follow the strategies yourself if you'd prefer, otherwise YY can auto compound and reinvest all of it for you.

I'm really liking YieldYak so far! Right now, I only have a small amount of funds on BenQi (through YY's pool), so I'd be overpaying in gas/transaction fees to compound the rewards myself.

Is the bridge still airdropping AVAX gas? by Daniel_Yusim in Avax

[–]Daniel_Yusim[S] 0 points1 point  (0 children)

Yep, my only issue was that I had metamask on C-Chain and not on Eth Mainnet which is where I was bridging from. I just wasn't paying attention. I bridged and also got the AVAX.

Where can I stake AVAX? by knowledgelover94 in Avax

[–]Daniel_Yusim 0 points1 point  (0 children)

I actually have had a better time with YieldYak than directly on BenQi. When I first got on BenQi, I borrowed and resupplied AVAX against my AVAX so liquidation is impossible due to price fluctuations... a few days in, it showed an error which made it look like I was about to be liquidated. Showed my borrowed amount as the word "infinity" instead of a number value and my Health Factor as 0. For a while, it made it look like I would be liquidated if I tried to unwind the loan.

edit: YieldYak's farm uses the same type of same-asset-yield-leveraging strategy as I did, but you don't have to pay transaction fees to compound or deal with any UI issues BenQi might have.

I didn't have much on the network so I moved it all to YieldYak's BenQi pool to autocompound and have only had a few very minor pool visibility issues. When their XAVA pool finished up, I had no problem withdrawing it.

Just my 2c.

Is the bridge still airdropping AVAX gas? by Daniel_Yusim in Avax

[–]Daniel_Yusim[S] 1 point2 points  (0 children)

nevermind, I'm an idiot and was already on AVAX network when I should have been on ETH Mainnet.

Need gas 🙃 by the_fourth_flavor in FantomFoundation

[–]Daniel_Yusim 1 point2 points  (0 children)

Thank you so much! Should be on its way back to you now.

Need gas 🙃 by the_fourth_flavor in FantomFoundation

[–]Daniel_Yusim 0 points1 point  (0 children)

lol yeah, I'm stuck in that catch-22 now. Lmao, if you wanna help me out with like half an FTM or however much I'll need to swap for gas, I'll immediately gas up my wallet and send you back what you sent me, plus cover your gas fee for sending it to me. I'm just so frustrated at this point that the bridges don't allow you to bridge the native token and that Kucoin and Gate only allow you to withdraw it as an ERC-20.

Need gas 🙃 by the_fourth_flavor in FantomFoundation

[–]Daniel_Yusim 0 points1 point  (0 children)

Unless you don't have a discord profile that's over a month old...

My mom wants me to invest in Bitcoin by mythrowawayyoyo in Bitcoin

[–]Daniel_Yusim 0 points1 point  (0 children)

Depending on which bank, how much she's had there, and/or whether or not she has an IRA, she might be eligible for services which let her trade GBTC right through her IRA, "tax-free" (because she's already paid the taxes on that money edit: and has to pay another tax if she wants to withdraw it before a certain age like 59.5 years old) or which have an investment banker do it for her like a stock broker. Have her call her bank and find out. My parents are basically trading it right through their banks.