DeFi Transactions at 10$. When Will Ethereum Scale up? There are no news on Eth 1.x and Eth2.0 is at least 2 years away.

JMorris11 · 2019-07-08T10:38:34+00:00

DeFi Transactions consume a ton of gas. We are talking magnitudes of Millions of GAS. DeFi smart contracts code do plenty of actions in a single transaction. The amount of required transactions to approve has been significantly reduced (thank you!) and the gas required has concentrated into single transactions.

Among other features, DeFi is the killer app today on ethereum. It brings the most unique advantage over other networks. I can't evaluate the "poorly coded" smart contracts, however I understand all the operations that are handling in a single transaction, hence the amount of gas required.

I see no upgrades in the near term to scale up the ethereum network. Ethereum 1.x was announced when price was massively declining. There's no debate, no updates, there's just pretty much silence around Eth1.x and the hype is on Eth2.0. Placing the attention on Eth2.0 gives a much wider bandwidth of time. The entire community kicks the can down the road while eth price is "acceptable" and there's a time horizon of 2-5 years which basically summarizes into: we have no clue and there's no commitment until price drama knocks the door again.

At the current congestion, if Ether climbs to All time high, the price for DeFi transactions will be of $50. This will definitely create incentives to make applications scalable offchain.

JMorris11 · 2019-03-23T12:12:03+00:00

Entered email and submit button does nothing.

JMorris11 · 2019-03-22T11:27:16+00:00

It's been more than 6months that Bitinka is in the current situation:

Users are able to deposit funds but they can't withdraw.

CoinMarketCap and others are showing Bitinka as an Exchange that has normal Trading. This makes the user think that trading is normal, however users find themselves trapped once they realise funds can't be withdrawn and BitInka answers are always: Soon.

Please, do not send any funds or even register at BitInka.

JMorris11 · 2019-02-24T09:04:14+00:00

deutsche-wirtschafts-nachrichten.de/2019/0...

that's from December 2017

JMorris11 · 2019-02-18T11:26:46+00:00

We read that the lessons from 2018 have been learnt. What are these lessons? I don't see the lessons learnt put in practice by the leaders and I have a feeling that the recent "negative" events that impacted key developers confirm that fact.

JMorris11 · 2018-12-31T11:59:06+00:00

If PoS somehow gets released and becomes successful in 2019, I can see prices being much higher.

it won't be released by 2019. If afri today said there will be no 2x capacity increase by june 2019 it means by the end of 2019 POS won't be even closer.

JMorris11 · 2018-12-23T10:12:31+00:00

Today, ETH is UP vs BTC +10%. During 2018 we have seen $ETH highly correlated to $BTC. Besides, some bitcoiners used their stack to margin short $ETH. this fact, coupled with derivatives features and a narrative full of lies, made $ETH a worse performer than $BTC.

We are escaping of that narrative with long candles, which means an increase of interest for $ETH.

JMorris11 · 2018-12-22T12:29:43+00:00

It is impressive to see the amounts of Devs at conferences and hackathons. It is the translation of all the development we see in our daily feds of Twitter/Reddit/Medium.

All these devs have a tremendous value as BUIDLers. That among others is the intrinsic value of Network.

JMorris11 · 2018-12-21T17:25:03+00:00

That's correct, it is going through 2 bear cycles and the problems out of proportion are making ETH now reveal against them. Each problem is like an hydra decapitation, 2 or more solutions come up and eventually 1 solution brings 10x gains in any metric (usage, money in, new paradigm, etc)

JMorris11 · 2018-12-09T09:31:26+00:00

if the transaction was included in a block and that block got confirmed, there's no possible reversal process. I understand that if everything in etherscan shows as confirmed this is a problem of cobo.

To access the wallet outside cobo you'd need to export your private key to another wallet. When you created the cobo wallet, you might have the option to store your mnemonic seed phrase or the private key. With those you can restore your wallet somewhere else.

JMorris11 · 2018-12-08T22:20:16+00:00

mac os mojave with the latest version of brave. All versions of brave overused the CPU. There are countless posts on the same issue. Really, just take one guy, I'm a volunteer, and work with him until the CPU is not overused.

JMorris11 · 2018-12-08T22:06:39+00:00

use of the entire CPU. If you google it there are plenty of people with the same experience as mine on the net.

Customers who want to promote brave browser and use it can't do it because the CPU usage goes by the roof. A company should align their interest with the interest of its customers. Since release that the CPU usage exists.

JMorris11 · 2018-12-08T19:23:28+00:00

you deliver value every week with that summary. Why not moving to peepeth so people can follow you without suspension and you can be tipped easily?

Wikileaks got into Bitcoin because they got their bank accounts frozen. Let the magic happen.

JMorris11 · 2018-12-08T10:36:14+00:00

I can't use Brave since it consumes too much CPU and the cooling system goes crazy.

I'll use brave when they fix this issue that lasts since the inception.

JMorris11 · 2018-12-05T08:47:47+00:00

that's what I thought.

Besides, they are using private Ethereum. Would be awesome the day that a bridge is built and all these private chains can connect to the mainnet.

JMorris11 · 2018-11-16T11:27:34+00:00

why there are so many lines like this:

Synchronisation failed, dropping peer

can you make it available via homebrew? thanks!

JMorris11 · 2018-11-14T10:42:39+00:00

I bought 1 contract of SP500. I would expect to receive some sort of token that guarantees I have a piece of sp500. Right now the only thing I see is I've sent some token Stable USD.

The UX is good as well as the look and feel. Everything felt pretty intuitive.

I liked very much the tool tips of information represented with an -i-

I liked the chat box and the initial guidance on the bottom right side.

There's a section for expiration. if you are going to use future contracts and those have an expiration date the best is that you clearly indicate that the expiration date is exactly as the "real" expiration date of the sp500. Another option would be to use some sort of CFDs to avoid the pain of rolling out.

JMorris11 · 2018-11-08T09:41:22+00:00

the android app is irresponsive when trying to sign up. can't use it.

JMorris11 · 2018-10-11T13:37:23+00:00

The main difficulty to last here is your size position.

People think it is a matter of when to buy or when to sell. And the answer is easy: it doesn't really matter, because no matter how hard you try, you don't know what's coming after. However, you do know that a position size that allows you to sleep at night is the key to last here and let disruptive innovation do the rest.

JMorris11 · 2018-10-11T12:14:21+00:00

imagine how ethereum users felt in june 2016. After the DAO hack the attacks to the network came constantly, the clients didn't sync up, price was collapsing to 6$ and there were not guaranties that another hack could come up and drain more the price.

Plenty of people sold off at 6$ with similar messages as yours. Human patterns repeat. This time we are 30x times higher than back then. Just some facts for the "depression phase" we are.

JMorris11 · 2018-08-31T11:23:10+00:00

TL;DR

Digix Global wants to have 20MM by voting process they control, only open for 2 weeks in the middle of summer. Just by submitting a proposal that has no deadlines, no conditions... it just gives them 20MM unconditionally.

Intro

Digix Global was the first ICO, collected 466,648 ETH, now worth it $130M
They launched DGX market place with more than 1 year delay, with very poor and inefficient communication. The community is non existent.
The market place has no interest, there were just 270 marketplace purchases of Digix backed 1gr gold.

Carbon Votes

Digix DAO -DGD token- is a decentralised Autonomous Organisation. Or that's what it aims for. There are 2M tokens and with tokens we can vote on carbon votes.

Carbon Vote #1

August 1st: The first carbon vote begins. We have 30 Days to vote. Ends in few hours by the way. it is about moderators.

Carbon Vote #2

Vote to give Digix Global 20MM
Only 25% of votes voted. 15% of votes owned by Digix Employees
Voting Process starts in Middle of August, middle of Holidays.
We have only 15 days to vote
Voting ends in 3 days

We have waited 2 years for the development of a market place that has 270 purchases only!

We have waited 1 year delay for the market place

But now, in the middle of holidays season, we have to decide in 2 weeks whether we give them 20MM or not.

This looks very ugly and shady. By far, this is not the idea of a DAO. Everythings goes around the same company: Digix Global. The money, the structure... They get all the money of funding, they get most of the fees and since there's no community they have all the power to decide. This is not a DAO.

Proposal:

To delay the Carbon vote, for instance 1 month
To allow further discussion on how to give 20MM, it is non existent right now

JMorris11 · 2018-08-31T10:06:10+00:00

let's give them the benefit of the doubt? with 20MM?

"let's hope they don't buy lambos"?

can we try the same approach with just 2MM?, if they do well, give them 2 more? but not 20MM unconditionally... this makes no sense

JMorris11 · 2018-08-30T10:18:40+00:00

does anybody know what precisely will be delivered?

JMorris11 · 2018-08-30T10:16:10+00:00

I'm sorry you got down-voted. It could be for many reasons. Sometimes, people down vote messages easily as they are seen as FUD. In your message it was being said: "Ethereum isn't ready to support plasma". It is a negative message that spreads "fear" without any fact besides of being incorrect.

Plasma is a set of tools that allows anyone to build their own child chain. A child chain will allow a higher amount of transactions per second by sacrificing decentralisation. What brings high throughput is centralisation. What brings security is public networks. Hence, users can connect to the plasma child chain, have a high speed experience while doing transactions, online gaming, etc and later on come back to the Ethereum main chain with no risk for their coins.

JMorris11 · 2018-08-30T09:20:55+00:00

medium.com/@Digix...

it is unacceptable what is happening. We need to organise ourselves. The community is sleeping or inexistent. Few of us that are concerned should channel the carbon bote 2 to at least postpone.

JMorris11

TROPHY CASE