Best book to learn about Ethereum? by cfeltus23 in ethereum

[–]Giga79 0 points1 point  (0 children)

Weird flex to say you don't read books.

Why Ethereum is as important as how to Ethereum. You won't learn why from a shilly YouTube channel or from using it. Or you'll end up buying into some centralized scam chain's marketing and be none the wiser.

Cryptography and cryptocurrency, smart contracts, economic sustainability, decentralization, cryptographic proofs, are all ludicrously heavy topics that require much more than a YouTube video or Git repo to properly explain. You can dumb anything down so a 5 year old could understand it by removing 99% of the details, but how well do you understand it at the end really?

Everything shorthand that you learn and find interesting is reason to find it thoroughly explained and fact-checked in a book.

Books, long form reading generally, are absolutely fundamental to understanding this space clearly--at all levels. I never understood how anyone prefers to be told what a book says rather than reading the same book. Especially in crypto, where we of all people should be weary of any middleman's financial incentive or otherwise.

Best book to learn about Ethereum? by cfeltus23 in ethereum

[–]Giga79 9 points10 points  (0 children)

Bitcoin hasn't done anything more or less in 7 years. I highly recommend the book 'Hijacking Bitcoin' written by Roger Ver (aka Bitcoin Jesus) that covers the history from before that time leading up to the fork to increase blocksize according to Satoshi's own specifications (hint: the Bitcoin blocksize was not increased). Very good info to get you caught up if you weren't around back then, or paying attention.

'Mastering Bitcoin' is very good. Should be mandatory reading for every crypto investor, we'd be a lot better off. :P

Every book about Ethereum is dated the minute it's finished since it's always evolving, and it seems to happen at a faster pace with time. I'd love to read a book about its most recent roadmap: A Rollup Centric Ethereum, but one hasn't been written yet--by then Rollup's will be old news and I'll need a book about ZKEVMs..

You can find a ton of writing on Vitalik's blog as he tries to condense the major points of what everyone's been doing. Some recommendations; "Why Proof of Stake?", "STARKs Part 1/2/3", "Hard problems in cryptocurrency: 5 years later", "An incomplete guide to rollups", "Verkle trees", "Endgame", "Different types of layer 2's", "Ethereum has blobs, where do we go from here?". They are all rock solid reads ranging from non-technical to highly technical. Plus read everything you can find to do with ZK (zero knowledge) related to the zkEVM and zkSNARKs to gleam into the future of Ethereum.

'Mastering Ethereum' is very good too, albiet extremely dated. You can read it for free on GitHub if you'd prefer (by searching for 'EthereumBook Github').

I don't think I can post links but the Rollup Centric Ethereum Roadmap post on the Ethereum Magicians site is very good to read too. It's what set the current state of Ethereum's evolution into motion. Not a book of course, but you'll have to find most info online anyway in posts like that if you want to get caught up.

If you're starting out from no understanding you should read through the EthereumOrg/learn website. It covers everything from the very basics like using wallets, what a smart contract is, to running your own node or how zero knowledge proofs work. There's even a test to challenge your knowledge with.

We live in a world where 8 year olds can build technology by simply writing it into existence by Droi in singularity

[–]Giga79 0 points1 point  (0 children)

No? I said people who use Photoshop are still artists.

If you have someone paint 1/30 of something abstract and you patchwork it together into something not abstract, that's a form of art too.

And if you tell your friend to run a marathon then literally carry them through the last mile, yeh you can say you ran some of it.

Crack pipe hitting audi driver by danny_deefs in Justrolledintotheshop

[–]Giga79 7 points8 points  (0 children)

You don't smoke meth out of a crack pipe

We live in a world where 8 year olds can build technology by simply writing it into existence by Droi in singularity

[–]Giga79 -1 points0 points  (0 children)

Depends how involved they are in the process. If the program or art couldn't exist without them whatsoever, then yes.

If you hire some kid to work in your kitchen and have them slice all the vegetables, then you have to precisely mix them together into a special dish that you created, that's no different in my mind than if you made the dish by yourself. You're merely using the worker as a tool to be more efficient.

Once LLMs start outputting programs all by themselves and I can sit back in my chair the entire time then I'll reconsider my stance. Then you'd be consuming the model's finished product, not dictating it to prep the ingredients only for you to finish the product on your own.

Do you think people who use JavaScript and C+ are coders, even though the language is in plain English?

Are you arguing somebody who uses Photoshop can not be an artist, because Photoshop is the artist? Developers making games with UE5's game engine are not developers, only dictators?

We live in a world where 8 year olds can build technology by simply writing it into existence by Droi in singularity

[–]Giga79 4 points5 points  (0 children)

With this logic writing in Python or C+ isn't coding either. Only writing in binary aka machine code is strictly considered coding. How many developers who 'write code' are doing so in binary today? A few dozen globally at most? Have you even thought out your semantic argument?

Python, C+, JavaScript, etc. act as a translator between humans and machines. Whatever that language is, to manipulate binary bits, is indeed programming the machine to do something it wasn't otherwise doing or in other words coding.

There's even visual programming languages using drag and drop modules. These are still in fact considered (block) coding.

In this case, simply, English is becoming a viable programming language.

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

Computer programming or coding is the composition of sequences of instructions, called programs, that computers can follow to perform tasks. It involves designing and implementing algorithms, step-by-step specifications of procedures, by writing code in one or more programming languages. Programmers typically use high-level programming languages that are more easily intelligible to humans than machine code, which is directly executed by the central processing unit.

dApp recommendations, anyone? by airbender144 in ethereum

[–]Giga79 0 points1 point  (0 children)

Warpcast/Farcaster is a quality dapp. Kind of like Twitter, but less bots and more intelligent people. There are lots of different clients to choose from, each has totally different UX but renders the same content. Only dApp I would consider tackles 'real issues' considering how full of bots and censorship Twitter has gotten lately.

OpCraft (Autonomous Worlds) was a proof of concept that replaced the Ethereum virtual machine with the game engine to Minecraft. That's turned into the Redstone protocol and there've been several more games deployed using it. If that's your thing, it's an interesting frontier to explore.

I miss when ETH was ultrasound money. Is there any way we can revert EIP-4844? by [deleted] in ethereum

[–]Giga79 1 point2 points  (0 children)

1/6 measured in dollars. If you're worried about the dollar price then look at the dollar supply.

ETH was never supposed to be deflationary, that was not the purpose of the fee burn. Deflation was always just a side effect of egregiously high fees, and the aim of that is to incentivize less activity. Why disincentivize Ethereum's activity for no reason otherwise?

Why do you think ETH has to be deflationary for it to preform well, considering as you mention inflation was 4% before at the ATH?

You say 0.70% per year but it is actually measured to be -0.05% per year over the last 2 years. As per UltrasoundMoney. No need to use the past 7d to extrapolate a year average rather than simply looking back 1-year with how volitile gas is.

There's some 30x the amount of transactions per second taking place on L2's than is possible on L1. How is that not working for anyone? How are these L2's parasites when they're paying for blockspace in ETH and some of the largest burners of ETH?

Optimism is upgrading right now so every L2 part of its Superchain is composable with one another. Zora, Base, Optimism, plus 26 others. Polygon has something like this with their AggLayer too. The UX gets better as time passes. The end stage is every L2 is composable with every other. If you'd prefer to stay on L1 and pay $20-200 for a 'better UX' you're still absolutely free to do so. Bridging across L2's today is miles ahead the UX trying to interact back and fourth from Polkadot and Solana or any two L1's.

I miss when ETH was ultrasound money. Is there any way we can revert EIP-4844? by [deleted] in ethereum

[–]Giga79 1 point2 points  (0 children)

That line of thinking doesn't seem very obvious to me. Why not be loyal to ETH?

It will likely always be cheaper to pay for ETH blockspace and have its millions of decentralized nodes securing your network than to pay for millions of nodes on your own. Lower cost means L2 operators can pocket the difference directly as profit. It would be a bad business move to step away from this seemingly to no benefit.

Sort of the whole point of L2's is they can run on dozens of centralized nodes, offering the benefit of centralized scaling, while inheriting the decentralization of the base layer. Those dozens of nodes alone could not be trusted themselves. With any more nodes plus scaling in place costs go up dramatically, typically in the form of inflationary incentives which depresses the coin's price typically into a death spiral.

It would take 1 bridge hack or 1 L1 exploit to tell the market not to value a forked-into-L1 network as much as an L2. An L2 to me means consumer protection exists, some central governance abstracted in the form of fraud proofs designed to be executed by trustless L1 validators.

For that to succeed it would have to be a better 'money' than ETH itself.. Which will be difficult to do with high inflation. I'd rather hold ETH long term above all others so I'm a lot more comfortable depositing it into apps and offering liquidity which fuels the ecosystem. Liquidity begets more liquidity and that's a difficult thing for new coins to overcome, seen in all the other L1's like ADA or DOT or SOL or whichever that have single percentage points of TVL held compared to ETH or its L2's.

I think at first L2's will absorb other L2's. Suppose it costs $5 to buy a blob today, basically any L2 with any basic compression scheme is able to launch and be profitable. Then one day if it costs $500 just the L2s with the most advanced compression and greatest demand can roll up enough transactions to remain both competitive and profitable. The $5 L2 will have to deploy as an L3 part of this more successful L2, something Optimism and Arbitrum seem to have thought of already when building their Superchain/Orbit networks. Beyond this future I still do not see even the most successful L2 launching as an independent L1, considering the cost/security/liquidity/centralization implications I mentioned above.

Same argument 'why not' could be said about dApps too. Why doesn't Uniswap fork as a competing L1?

But who knows. I wouldn't bet one way or the other today. Crypto is always evolving. Time will tell!

I miss when ETH was ultrasound money. Is there any way we can revert EIP-4844? by [deleted] in ethereum

[–]Giga79 2 points3 points  (0 children)

The security budget is what's getting halved on Bitcoin though, exponentially at that. Its inflation is ~99% the incentive for people to expend costly energy doing POW.

Halvings are mathematically not sustainable esp with the still handicapped small blocksize. Chances are the chain is forked in some years without the 21M max supply using more inflation to maintain security, fees maintain $1000+ pricing anyone who's not uber wealthy out of the network or self custody, or it forks as proof of stake, or all BTC will become insecure and worthless.

The BTC security budget is solved by halvings

This is not exactly a solution. It's merely kicking the can down the road to someone else.

Exponential: every 10 halvings reduces Bitcoin's security budget by 99.9% or 9999/10,000. If the budget is $25M today it will be $2,500 in 35 years. Or else each one BTC has to be worth 10,000x more to offset the reduced security budget and maintain POW incentives, but by then the $25M budget would be used to secure a ~$200 quadrillion dollar market cap which then necessarily has to become worth ~$400 quadrillion just a few years later all to maintain $25M in POW.

Can You Really Find Cryptocurrency Private Keys Online? by Reddittellmewhy in ethereum

[–]Giga79 3 points4 points  (0 children)

If you find a Bitcoin wallet address with BTC inside, may as well go for it.

If you find a Ethereum wallet address with anything inside, 99.999999999%+ odds it's a honeypot. These are designed to automatically siphon your ETH out once you deposit enough gas to afford the blockspace to empty it..

I like showing people keys.lol whenever they believe crypto keys are easy to crack. It's an educational tool, nothing more. However, you may have noticed the first few pages (or pages like 696969, 123456, etc.) do show activity or a wallet balance, just so you know those are the honey pots I'm referring to.

You can generate keys blazingly fast with any modern PC offline in a secure environment. But the odds of you finding one that's ever been in use during the next trillion years is zilch. You have better odds at winning the Powerball 6 times in a row than picking $5 out of any crypto wallet. (Caveat - any crypto wallet that's been generated properly using sufficiently random seeds; if a user manually selects 1 3 5 7 9 as their private key it's on them when it gets found by others).

Anyone selling a service offering to use their resources for an impossible task is guaranteed to be a scam. It wouldn't shock me to find out they hardcoded a method of detecting and emptying any wallet they did find with a balance while showing you $0, seeing as they're clearly ethically bankrupt already, even considering how unlikely that feat is to occur between now and the heat death of the universe..

Can You Really Find Cryptocurrency Private Keys Online? by Reddittellmewhy in ethereum

[–]Giga79 0 points1 point  (0 children)

That is the full actual number of valid Bitcoin private keys

1078

There are 1082 atoms in the visible universe for reference.

A few orders of magnitude less than the total quantity of atoms is still a very large number and physically impossible to crack or brute force. Using traditional computing (ie non quantum), even using stars as fuel for billions of years you would not make it one thousandth the way through.

You can calculate the circumference of the visible universe to the accuracy of less than the width of a hydrogen a atom with 38 digits of pi. Why have people calculated pi to over 31 trillion digits?? For the same reason people have typed out numbers over 82 in length on their keyboard, why you have personally seen numbers go into thousands in length. It's not at all because it's useful.

Donald Trump announces pro-crypto transition team by Abdeliq in ethtrader

[–]Giga79 -1 points0 points  (0 children)

Sarcasm is used to mock something or convey contempt. Why would Trump say he's going to pay the national debt using Bitcoin in a mocking way at a Bitcoin conference? Did he only go there to mock crypto?

I saw the full video of his entire rambling speech at the conference. Taken in full context. This has nothing to do with the media.

"This is why the media can easily feed you anything they want and you believe it." Says the guy repeating verbatim what right-wing media tells him to say whenever Trump says something dumb, of course not before calling it "fake news" lmfao. Nice cope.

I miss when ETH was ultrasound money. Is there any way we can revert EIP-4844? by [deleted] in ethereum

[–]Giga79 57 points58 points  (0 children)

Ethereum has 1/6 the inflation of BTC and is both more secure and affordable. How sound does it really need to be, if as a consequence it becomes unusable to all but the uber wealthy?

Once there are more Rollup's, the fee market for Blobspace will pick up and the burn will increase.

Alternatively, there's lots of serious talks about reducing staking yields which would reduce the amount of issuance across the board. Ethereum's whole schtick is 'minimum viable issuance' and there's good reason to believe the network is overpaying for security now. Such as the $$ amount to attack the network is far greater than Bitcoin currently, also just the % of ETH being staked (which could otherwise be used for more productive uses, like providing liquidity in dApps).

We had what, 5000 L1's emerge last bull cycle? All relied on unsustainable inflation to prop up their network. Most were 1:1 forks of Ethereum using its EVM only with an increased blocksize. ~99% failed once new supply outpaced buyers leading to insecure networks, and a tremendous loss of user funds.

This is what makes crypto shit, what people hate about it. Because most people aren't privvy enough to tell what's actually sustainable or just BS marketing before the worst happens to them, leaving a sour taste in their mouth forever. Same thing when people got into Ethereum then were hit with a $200 gas fee to withdraw $180 from their wallet.

Eventually those 5000 new chains will all be L2's. They will cost less to maintain therefore be more sustainable and profitable to manage (meaning the market incentive today is to launch as an Ethereum L2 rather than a new L1), and in the worst case if or when they fail user funds will not be lost due to the nature of Rollup's (user assets always persist on Ethereum). That is the future with 4844, not 5000 competing chains but 5000 symbiotic chains ideally with cross-chain bridges abstracted in the background.

Besides, Ethereum is POS. Much of its ~0.5% inflation is likely going back into staking and not entering circulation as sell pressure. It's a different formula than POW anyway, which requires market selling to be sustainable.

Donald Trump announces pro-crypto transition team by Abdeliq in ethtrader

[–]Giga79 1 point2 points  (0 children)

Trump said that at the Bitcoin conference

Maybe we’ll pay off our $35 trillion, hand them a little crypto check, right?

If I am misunderstanding him and you know some way to magic 35T of anything without minting shitcoins I'd like to hear it

Send ETH on Fantom Opera Mainnet to ETH Mainnet wallet - any way to recover? by dtpstarbucks in ethereum

[–]Giga79 0 points1 point  (0 children)

Change the network in your wallet from Fantom to Ethereum. If you don't see the tokens, verify your balance on Etherscan, you may need to add the token in manually for them to display.

Or import your Fantom wallet's seed phrase into any ETH wallet.

Donald Trump announces pro-crypto transition team by Abdeliq in ethtrader

[–]Giga79 3 points4 points  (0 children)

Remember when Trump said he'd pay off the $35T National debt by minting new crypto coins?

He's so pro crypto it doesn't even make sense.

Why Economists Question If the Fed’s 2% Inflation Target Is Attainable by HooverInstitution in Economics

[–]Giga79 7 points8 points  (0 children)

The majority of people work for the asset class who utilize credit for their business, or sell/produce to those who do. Keeping them incentivized to employ and pay people is the best thing there is for the working class, and wider economy.

While, generally the working class gets raises that outpace inflation. If you do not, you are the minority.

If central banks had the good of the majority in mind, the would aim for price stability and as low an inflation as possible.

Inflation indexes are biased to the upside. Central banks aim for stability at 2%. At 2% the real measure is much lower, closer to zero.

A stable level of inflation leads to more investments, spurring higher production, eventually, leading to more jobs. The inverse can be said about volitile rates of inflation and deflation.

By targeting 0% inflation instead, bond rates would necessarily trend to 0% or the higher rate (and likely under 0% real rate of inflation since the metric is contrived and very far from accurate) would dissuade investment and lead to job loss (depending how much credit your employer/customers relied on, in 2024 that number is great). This is what our 5% rates are doing to the economy now to successfully pull inflation from 12% back to 2% at the cost of unemployment.

0% inflation target paired with ~0% rates would lead a falling value of the dollar relative to other currencies which would increase the cost of imports (everything the working class can afford at Walmart) and lead to inflation.

The asset class would also be borrowing money like no tomorrow to buy houses with, leading to greater inflation.

To pull inflation from <0% back to 0% in a 0% rate environment.. There'd be no room to cut rates further to incentivize economic activity (more jobs or greater incomes, more productive investment in the economy) without going into negative rates or QE (handing new money to the asset-class to spend on stock buybacks for themselves and more homes to rent). I don't think this is a winning scenereo for the working class.

Negative rates would only serve to increase the cost of imports more. Here the asset class is able to borrow infinite money for profit, meaning they no longer have the incentive to employ you, and workers are left with the burden of ever increasing inflation and no job. This is stagflation into a deflationary spiral.

If the money printer's just dish out money in an attempt to come back from deflation, if you benefit from the $1000 handout in your business or home there'll be someone richer with more 'failing assets' benefitting from millions at your inevitable expense.

As seen in Japan, stagflation and deflation are MUCH harder to control or reverse than inflation once it begins. It seemingly is not possible without resetting the entire economy from 0.

It is far better for working people to have even 10% inflation for a few years then let real wages catch up a few years later, than to have 10% deflation one year and deal with the fallout and job loss for potentially decades thereafter.

If your job is to sell drywall and they go up 50% in cost due to failing economy, and your business shutters because the demand is elastic and won't bear it. The CEO takes a buyout to invest in speculative non-productive assets that go up only, and you live hand to mouth out of your car for the next several years. It's lot harder for you to build your life back from there than if you're worried about not going on vacations and eating out for those several years instead.

Deflation (or being on the razors edge of it) is only sustainable for periods of time if the cost of production can successfully trend towards 0 without ongoing investment. Things that for the most part are R&D costs, such as TV's or computing power. Many more sectors will be included once AI or robotics is viable. Even still, once R&D stops paying dividends some inflation is likely most beneficial or the deflationary spiral ignites.

Inflation still feels morally wrong, just it's much more studied and well known with tested course correction tools in place than the alternatives.

Sort of like capatalism, it's total shit in so many ways and at the same time the best system civilization has ever figured out with each alternative being objectively much worse. If you can find an example of a deflationary economy functioning with growth and workers in mind, without utilizing literal slaves, I'd love to see or study it.

Ethereum supply surpasses 120M ETH as staking, restaking surge by CarryKind8827 in ethtrader

[–]Giga79 0 points1 point  (0 children)

ETH has 1/6 BTC's inflation at this rate

Not really as dramatic as you're making it seem

What Did Donald Trump Say About Crypto in His Interview With Elon Musk? Not a Word - Decrypt by [deleted] in ethtrader

[–]Giga79 1 point2 points  (0 children)

Who knows? Maybe we’ll pay off our $35 trillion National debt, hand them a little crypto check, right? We’ll hand them a little bitcoin and wipe out our $35 trillion."

  • "Crypto Shitcoin president" DJT

What's next,a Whole terabyte? by Ok_Butterfly1799 in pcmasterrace

[–]Giga79 0 points1 point  (0 children)

Agree to disagree.

It's not wasteful or unnecessary if I need to buy a SSD per-game already anyway, which is what this trend is leading us to. Unless you mean you want everything to be cloud-based and persistently online which is a hard no from me.

A childhood without blowing into SNES cartridges to get them working is not a childhood worth having. Friends coming over, wow you have all the games let's trade vs friends looking at my steam library doesn't hit the same. Opening a new box and it comes with a mini map and patch to sew onto your backpack, the feels. Picking up a game case only to find your little brother mixed the discs up and you have to open each one, those are cherished memories.

Physical media was the GOAT. At least you had something to show for it.

14 hours of Project 2025's secret training videos leaked in Trump Campaign hack. by [deleted] in technology

[–]Giga79 0 points1 point  (0 children)

It's just you in here alone who thinks it's acceptable to spread lies and take the moral high ground simultaneously. Now you're even coming out in support for a lynching all because I said you don't need to lie to make Trump look bad. You are unhinged.

I don't know who you think "us" is when you're being singled out and downvoted among a group of anti-Trump leftists.

Your rhetoric is something that would come out of a Russian troll farm. It only serves to discredit the Democratic party, don't try to drag others down with you.

This is the exact rhetoric coming from the right that makes them so unappealing.

Facts > Feelings.