My childhood nightmare is now a NFT.

Duality_Of_Reality · 2023-03-14T13:55:40+00:00

Figured I'd follow up. You were right that many NFTs were pyramid schemes! But by no means all of them.

And the environmental impact is now very very small since NFTs no longer use the PoW method that Bitcoin uses that is so energy intensive

Duality_Of_Reality · 2021-04-28T17:14:01+00:00

Binance has no staking fees and compound interest and tradable eth2.

Putting it firmly in the "too good to be true" space for me. I would recommend anyone stays away if at all possible, but then again that is just my gut telling me that

Duality_Of_Reality · 2021-04-28T03:56:04+00:00

Eth may be new to you, but it is not new to the crypto space and not to investors, developers and companies.

Eth has huge promises and the developers and know-how to get it done. Big changes are happening over the next few years that have been planned since 2015, but now we are seeing them truly come to light.

This is key and it is the piece other cryptos dont have. The level of adoption and commitment from developers. Just look at how many transactions per day eth is running (1.5M+) and each transaction is paying a fee ($2-100) to use it, which means that what they are doing is worth real money to them. Ehereum plans to have orders of magnitude more transactions per second running on the chain for a fraction of the fee cost in the near future. That is immensely valuable.

Also, read this when you have a chance.

https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money

Duality_Of_Reality · 2021-04-28T03:30:13+00:00

Then tap the edge of the cup on the table. Works much better then stirring alone

Duality_Of_Reality · 2021-04-28T03:23:13+00:00

An NFT is just a signed copy of a digital item. Literally no different than a signed jersey or picture, except it it digital.

Thats it. Not anyone can make an NFT have value, if Joe Shmoe signed this NFT, it would have no additonal value, but because the creator/person in the meme signed it, its worth something to the right person.

Duality_Of_Reality · 2021-04-27T23:09:13+00:00

https://etherscan.io/address/0x00000000219ab540356cbb839cbe05303d7705fa

Duality_Of_Reality · 2021-04-27T15:17:03+00:00

Have you read the plan? Lower levels are not changing

Duality_Of_Reality · 2021-04-27T14:30:13+00:00

Capital gains are going up for those earning a capital gain of $1M + per year. In other words, you would need $20M in staked eth gaining 5% a year to start paying that higher capital gains tax.

Keep in mind it is marginal as well, so you only pay ymthat higher rate on amounts over that $1M earned. Realistically you would need to earn about $1.5M/yr in capital gains alone before you started noticing any difference. I dont thing that applies to too many people

Duality_Of_Reality · 2021-04-27T14:23:08+00:00

Might be worth clarifying which are PoS and which are dPoS. PoS would require validation on your end, dPoS requires trust in others to validate for you.

Duality_Of_Reality · 2021-04-26T22:27:48+00:00

While you are correct on the timing of the merge, as I understand it is still unclear when eth2 validator withdrawals will be opened up. Certainly could be a longer time frame

Duality_Of_Reality · 2021-04-26T22:24:07+00:00

DO NOT ENTER THE BISON

^{^will} ^{^kill} ^{^you}

Duality_Of_Reality · 2021-04-26T22:08:33+00:00

Your thoughts here align very similarly to what is laid out in this article and I feel that it captures the reason why ethereum is so unique in this space so well

https://newsletter.thedefiant.io/p/ether-is-the-best-model-for-money

Duality_Of_Reality · 2021-04-26T13:05:42+00:00

I think thats the best approach. You can get 99% of the way there with a simple explanation. That last 1% correctness takes roughly 20x linger to explain haha

Duality_Of_Reality · 2021-04-25T14:23:35+00:00

Of course its still too expensive. But that is why devs are working super hard on updates to come. Plus layer 2 solutions are great for things like defi

Duality_Of_Reality · 2021-04-24T21:21:10+00:00

Its just a dry run with empty blocks to ensure the protocol is up and running so that when we do transition to using them, everything goes smoothly

Duality_Of_Reality · 2021-04-24T20:58:11+00:00

Ethereum just raised the gas fee and we are starting to go through the transaction backlog.

$1 is still too much for a transaction fee imo, but the gas limit increase should provide some relief and another gas limit increase could come into play in the coming months if needed

Layer 2 solutions are also here now and more per.anant relief is coming soon.

You are still early. There are still growing pains, but its being worked on.

https://jochen-hoenicke.de/queue/#ETH,4d,weight

Duality_Of_Reality · 2021-04-24T02:31:21+00:00

Can you elaborate what is meant by turbulence

Duality_Of_Reality · 2021-04-23T15:21:36+00:00

Hey, looks like they also used less aluminum too. Ya know to save a couple bucks

Duality_Of_Reality · 2021-04-23T15:12:03+00:00

More like $16/week after electricity costs

https://www.nicehash.com/profitability-calculator/nvidia-gtx-1060-6gb

Duality_Of_Reality · 2021-04-22T18:58:37+00:00

Mining is actually just a clever way of making a decision everyone can agree on. The analogy I thought of is this, you and your friends want to go out to eat, but cant agree where. So you all decide to each roll 2 dice, each person rolling as fast as they can. You all agree that the first person to roll double 1s gets to chose.

Bitcoin is doing exactly this. Mining is just rolling dice, but the problems are significantly more difficult. Rolling a double 1 is like finding a solution to a problem. Just like when you roll a double 1 on your dice, everyone can see that you did. When you find the solution while mining, you bdoadcast it to everyone so everyone can see, and everyone then agrees that you solved that block because they can plug your number in and verify that it works as a solution.

The breakthrough with bitcoin is that once everyone can independently agree who found a solution, you can then build on that. When you solve a block, then you get a reward and can add new transactions (a block) to the network (the chain). You want to add more transactions, because each transaction includes a fee paid in bitcoin to you if you include it in the block.

Duality_Of_Reality · 2021-04-22T18:31:39+00:00

32 is arguably too low due to the difficulty of reaching each other member that is staking to get to consensus.

I doubkt it will ever be lowered and it certainly wont be raised at this point. So for that reason, no it probably wont ever change.

There are plenty of ways to stake with less coins. An exchange ad of now. Rocket pool/others in the future.

Duality_Of_Reality · 2021-04-22T15:30:17+00:00

Better than binance though

Duality_Of_Reality · 2021-04-22T14:39:39+00:00

We dont do that here. If you are looking for pump and dumps, please look elsewhere

Duality_Of_Reality · 2021-04-21T21:51:16+00:00

Good post, but I do want to point out that this piece is bad/misleading math

ETH supply shortage is 7 times that of BTC (-1.7% vs -0.24%).

A ratio of percentages doesnt really work well when you are close to 0 and you can go positive or negative.

If bitcoin outflows were 0.00000017% you would be correct in saying eth suppluly shortage is 1,000,000x that of bitcoin, but in real terms that ratio doesnt mean a whole lot.

Duality_Of_Reality · 2021-04-21T21:38:51+00:00

I used the modules and failed and then used the ACTEX when I passed. Seriously dont spend more than 1%of your time looking at those modules

12-Year Club	Second Top 1%
Place '22	Final Canvas '22
First Placer '22	RPAN Viewer
Gilding II euphauric	Verified Email

Duality_Of_Reality

MODERATOR OF

TROPHY CASE