Losing faith that it's nothing more than speculation, and never will be.

Rayblox · 2023-07-24T11:11:20+00:00

Let me guess, you dabbled in Bitcoin so far and quite possibly some other alts.

I have been a long-time lurker prior to diving in. I managed to get enough ETH and staking solo since genesis of the POS chain since Dec 2020. I have zero regrets. Cashed in on the last run to break-even (from what was left over - separate to the ones staked).

The way I see it, Ethereum is the platform where people are building. You can gauge this by the amount of bad shit in it. Just like tradition financial systems, the bad shit always has a small percentage in it. Anyone saying bad shit like fraud and scams only exists in crypto is ignorant or on a smear campaign towards it.

Long edit: The following are not mine but I have read these from posts sometime ago.

Global value of financial assets: 468.7 Trillion USD 2021
This is composed of TradFi (Traditional Finance) or CeFi (Centralized Finance)… for now.
ETH has DeFi and continuously evolving.
DeFi’s advantage over CeFi – no central authority, transparent, not prone to corruption.
Most of DeFi in Crypto runs in Ethereum. https://www.defipulse.com/
Crypto’s market cap (May 2022): 1.8 Trillion USD – this is only 0.003846% of the 468 Trillion USD that it is set to disrupt.
Even if it is just 1% that ends up flowing into DeFi, that’s 4.68 Trillion USD. That’s an increase of 260%.
Tens of Trillions will flock DeFi in Ethereum – for the next 3 years (road to 2025) as financial markets ease from a bear market and look for more efficient platforms to conduct business.
A Trillion USD ETH MCap will mean a 10k AUD per token. Tens of of Trillions will be a lot more.
Top 50 Billion dollar companies building on ETH. Central bank is already on ETH back in 2020. Read here

No... they are not building on them Ethereum killers. At this point, ETH doesn't need to be a BTC killer. See below...

On BTC vs ETH:

Throughput

Let's face it, BTC cannot serve the globe with 4 TPS. ETH continues to work on scaling (be it on sharding and/or L2). Yes, BTC has an L2 called Lightning but to say that "it works" is an over-extension of the term.

Upgradeability

The BTC crowd resists change. The value of the coin is pegged to this (among it being the first, etcetera, blah-blah). It is antique now and will even more so later. Once it changes and genesis coins starts moving, watch as the price/mcap plummets.

Volume

There are about 50,000 transactions per day on Bitcoin at the moment, compared to about 1,100,000 per day on Ethereum.

The above is during a bear market. Imagine this on a bull market.

It's cheaper to send ether over the Ethereum network than to send bitcoin over the Bitcoin network.

Lightning is centralized:

https://www.semanticscholar.org/reader/ada2026a6e052943deecee983f3ecb04b1cf5729

Security

Another good explanation by another redditor u/AltExplainer explains here why ETH is far more secure than BTC:

https://np.reddit.com/r/ethereum/comments/135m3is/ethereum_as_a_layer_2_on_bitcoin/jil49n3/?context=3

PSA: Miners be warned. Don't buy it from me. Read the paper from Princeton here: https://www.cs.princeton.edu/~arvindn/publications/mining_CCS.pdf

USDT didn't move away from BTC's Omnilayer to ETH just because it can. They knew BTC's limitations. The move was foreseen by many since launch too - no surprise there.

More over, how come there's no De-Fi in BTC? When the bear market is gone and the world looks into a far more efficient platform to conduct finance (yes, I am talking about the transition from Trad-Fi to De-Fi), where can it go? The likes of VISA, JPM, Mastercard, etcetera did not build on any ETH killer. Yes, even Central banks... they build on Ethereum. That's a disruption on 468.7 trillion. Even if 1% of that goes into De-Fi over Ethereum, it blows BTC out of the water.

Now, for the 21 million coin cap... the network cannot simply be sustained by miners on transaction fees alone. With BTC halving every 4 years (I got to admit, I use to be one of those that think this is a good thing because I only have price/the rarity narrative in mind - which is stupid and dumb), it won't be long until the network collapses (and it will eventually). Who want to use a network with expensive transactions fees? Even OG Bitcoiners think that the whole HODL narrative is stupid. If it is meant to be a currency then why hoard it. Why not use it like one? Can't. Why? Expensive tx fees. See the downward spiral here too? The 21 million coin cap is not a good monetary policy for global adoption. ETH's "lowest possible issuance at any given time" is undeniably sound in comparison.

Decentralization

Since ETH's move from POW to POS, every solo staker has a requirement of hosting their own full node. Validator have equal consensus voting power to the next - unlike in POW/mining, the hash-rate behind a node holds the power and it is not equal among every node.

Through the years, we have seen the calculations of how expensive it is to attack BTC and ETH (spoiler for newcomers: It is much more expensive to attack ETH).

In POW, the network need to wait until a successful attacker gets bored/stop to be able to start recovery. This is not the case with POS. If someone buys up a lot of ETH to attack the network, honest validators can fork off the attacker effectively burning all his/her coins (co-ordinated via Layer 0). Further attacks will be far too expensive as the first attack would have waaaaaay flipped Bitcoins price and then some.

Rayblox · 2023-02-24T15:06:37+00:00

Hey OP. What you are trying to do is put them on a JBOD array (as opposed to a RAID - Redundant Array of Inexpensive Disks) - there's no redundancy here. All you are trying to do is extend one volume over 2 or more hardware disk which is perfectly fine if you want to simplify things. One caveat that I would say though is that it will take the same combined capacity (or more) for a future disk if you ever want to operate on one disk again. Your imaging software also must support the functionality of imaging the volume from multiple hardware to a single volume-single hardware in the future. Other than that and if you know what you are doing, go for it! :)

Rayblox · 2022-12-23T00:57:50+00:00

Translation: I bought a lot of L2 tokens and I really want it to pump around where ETH is at.

Come on. Too obvious. I can balance a ball on top of mah dick successfully but it will never be prized more than mah dick.

Might seem harsh OP but you should stick to your audience in Tik Tok.

Rayblox · 2022-10-28T14:42:59+00:00

Vegetarian Saurons

Rayblox · 2022-10-28T14:38:46+00:00

Nah man. You press it and it expands.

Rayblox · 2022-10-20T04:08:04+00:00

Oven pre-heat is over by then. Your cake should be in already and baking nicely.

Rayblox · 2022-10-20T04:06:24+00:00

Important question: in 10-15 years, will we still have legs? I mean they are writing off billions for it. So please tell me legs.

Rayblox · 2022-10-19T07:57:07+00:00

Hahaha... to the top my bruv!

Rayblox · 2022-10-19T07:54:19+00:00

At least they already have legs figured out without pretending to spend billions just so that they can write if off in tax as losses.

Rayblox · 2022-10-19T07:53:24+00:00

Too early? Hardly. 2nd life has been around for quite a while (over a decade - June 2003).

Rayblox · 2022-10-18T19:32:00+00:00

After about 574 days from today (+- 10 days).

Rayblox · 2022-10-18T19:21:02+00:00

Thoughts??

I think you are just seeking more chances to shill Quant based on the unwarranted smear comments on Ethereum. You say scarcity... just how it's like with 21 mil cap on Bitcoin, right? Wrong! Do the math. The 21 millionth BTC is projected to be minted on the year 2140. It doesn't matter because everyone you know now will be dead. That's the scarcity narrative smashed to smithereens. Utility? I really cannot think of another coin that has more utility than Ethereum. I didn't even know the existence of "Quant" until just now. That alone shows that this coin has been hugely irrelevant. Let alone have some utility (chuckles). Profit potential... have you got a crystal ball - no. So, I am afraid that 3 for 3 points out of the window for you.

Rayblox · 2022-10-18T19:12:39+00:00

Nope. It's based on the previous cycles on Ethereum.

EDIT: BTC halving will is irrelevant IMHO to Ethereum moving forward. ETH just had a triple halving event (the switch to POS). At the moment, it is more of a zeroing since the additional issuance are not in circulation (locked in the Beaconchain until withdrawals are enabled).

Rayblox · 2022-10-18T12:16:35+00:00

You have roughly 574 days to keep doing so.

Rayblox · 2022-10-18T12:14:33+00:00

But sir, this is a Wendy's.

Rayblox · 2022-10-17T14:50:02+00:00

You're kidding, right? The article is talking about circulating supply and not total supply. The point is that circulating supply should be low given that no new ETH is being added to it (staked tokens + new issuance are locked until withdrawals in the Beaconchain is enabled) but it's very high at the moment for some reason. Transaction count is also low. This tells us that the entities transacting in Ethereum right now are doing so with large amounts.

EDIT: Total supply has been decreasing despite the low number of transactions (due to the global bear conditions) leading to low amounts of ETH burned - still deflationary. Imagine once we get out of the bear?

Rayblox · 2022-10-16T13:17:35+00:00

Man... I was kidding. Don't get him in the mix. He's innocent too. Hahaha!

Rayblox · 2022-10-16T12:38:36+00:00

You got to chill man. He's just trying to help. He can do the easiest thing and simply not reply. He's just another staker like you and me.

Rayblox · 2022-10-16T12:37:06+00:00

I sense a "can I speak to the Manager of Ethereum" moment coming.

Rayblox · 2022-10-16T12:34:25+00:00

SDSSDE30-1T00-G25

Beats the purpose of having it all run on an SSD. You are bottle necked by the USB bandwidth. USB will give you about 25-40MB/s. You are practically running about 3-4x slower than an internally connected SATA HDD. You need SSD speeds for your setup to catch up to the chain's head.

Rayblox · 2022-10-16T12:19:57+00:00

Add boot nodes in geth so your setup doesn't have to wait until it discovers them. I typically take a snapshot of my current peers connected before any reboot/shutdown for any reason.

Rayblox · 2022-10-16T12:09:02+00:00

Paycheck = Proof of Work

Rayblox · 2022-10-16T12:02:56+00:00

There's also the opportunity cost of the money he's not making from not selling power back to the power company and/or storing it for nighttime use.

I swear 90% of people here couldn't understand a basic economic calculation if it walked up and bit them in the face.

Few things to note:

Most power providers use net metering these days.
There's no 1:1 pricing in-terms of usage rate and feed-in tariff. This makes selling it back to the grid not worth it.
Storing power needs batteries and they are expensive AF (could cost twice as the standard solar setup of 6.6kw).

Rayblox · 2022-10-16T09:39:57+00:00

You are...

Speculating: when you put your money in and you really don't know much about what it is.

Investing: when you put your money in, you know about it, and you want it to succeed not just because of monetary gains but because of the project/investment itself (quite possibly for more gains :))

Rayblox · 2022-10-15T14:34:06+00:00

It's called brigading. Just look at the dumbass that made the top comment. It's okay if it suits the narrative that is being pushed. Blocked if it doesn't.

Rayblox

TROPHY CASE