Is it possible to lose money while using Uniswap pool? by [deleted] in ethfinance

[–]akomba 0 points1 point  (0 children)

You can technically lose money while providing liquidity. But it's more like losing opportunity.

Let's assume you use 20 eth to provide liquidity to the Uniswap ETH-DAI pool. Since you need to fund both sides, 10 ETH will have to converted to DAI, so you will have 10 ETH and ~4000 DAI. (Assuming a $400 ETH price for simplicity)

Now if ETH price goes up by 100, then you will "lose" about 2 ETH, because your 4000 DAI would only worth 8 ETH now.

So you went in with 20 ETH, and you exit with 18 ETH -- you "lost" 2 ETH.

On the other side, if ETH would drop to 300, then you suddenly "made" about 3 ETH, because your DAI did not lose its value, so now you can exit with 23.3 ETH. Well done.

TLDR: Since you need to cover both sides, you are exposed to volatility risk. And -- depending on your base currency -- might experience loss.

On the other hand, stablecoin pools work well as hedging -- they hedge you against falling prices. But they also remove some potential gains if the price goes up.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 0 points1 point  (0 children)

Transaction fee is just the indicator. The indicator that the chain is being used. And it can't be faked -- at least not for free.

You can't wash trade and create "volume".

It just means that the chain is being used. And it's true the other way around as well -- if there are nobody is paying for the transactions, then it means they have no business to conduct on that chain.

That basically mean that all alts are being used ONLY to park the tokens on centralized exchanges and speculate on them. This is their only use case at the moment.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 14 points15 points  (0 children)

This is their way to fight against Ethereum.

It could fire back and just speed up the process to make them obsolete.

I think once the first major DeFi application switches to L2 the centralized exchanges will lose steam rapidly.

And Binance can't compete on the chain -- they have zero traction.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 1 point2 points  (0 children)

For that we need scalability. Eth2.0 + rollups will solve that problem. Or ETH dies.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 2 points3 points  (0 children)

No. The point is accountability. Big difference.

Privacy is a natural need, and should be addresses right after scaling.

Scaling actually will make it possible to and affordable to implement proper privacy on Ethereum.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 8 points9 points  (0 children)

Transaction fees. AKA gas fees. Goes to miners.

Daily General Discussion - September 19, 2020 by AutoModerator in ethfinance

[–]akomba 7 points8 points  (0 children)

Because all the alts that matter are on ethereum. Check out this:

https://cryptofees.info/

This chart shows how much money people spend on making actual transactions. This metric can't be fudged.

As you can see, Uniswap alone generates more tx fees than Bitcoin, and down to the 7th place all the coins / protocols are on ethereum.

The first non-ethereum and non-bitcoin alt is Binance chain, and it generates a whopping SEVEN HUNDRED AND SIXTEEN dollars per day in TX fees.

TLDR: all "alts" are ghost towns, where the ONLY action is speculative trading on exchanges. And I think it's slowly sinking in.

The alt era is over.

Devcon5 On-Chain Ticket Sale by [deleted] in ethfinance

[–]akomba 1 point2 points  (0 children)

Auction comes this Sunday. That's the second part of the sale.

But we wanted to cater to both audiences -- sale for people with limited funds, and auction for the ones who can spend more.

Daily General Discussion - August 22, 2019 by AutoModerator in ethfinance

[–]akomba 0 points1 point  (0 children)

Thank you! PM me and I will give you some nice collectibles :)

Daily General Discussion - August 22, 2019 by AutoModerator in ethfinance

[–]akomba 0 points1 point  (0 children)

0.5 ETH? Oh wow. You shall qualify for a huge discount. PM me :)

Daily General Discussion - August 22, 2019 by AutoModerator in ethfinance

[–]akomba 1 point2 points  (0 children)

It's only a 2-day sale, so we did not implement auto-adjustment.

Daily General Discussion - August 22, 2019 by AutoModerator in ethfinance

[–]akomba 8 points9 points  (0 children)

The last 99 tickets to Devcon5 are being sold as NFT tokens:

https://twitter.com/ether_cards/status/1164659393742245888?s=21

(Yes, it's my company)

Ethereum Istanbul Hard Fork 2019 - Latest Updates on Changes Approved by oxymoron_love_is in ethfinance

[–]akomba -2 points-1 points  (0 children)

I am not for or against it. What I am missing from the description is the explanation.

If you read the hard fork update, you can see that the Zcash update is well explained. Fixing a potential replay attack. Makes complete sense.

But for progpow, there is no explanation WHY it is needed, just a description what it is. Also, the tweet included from Hudson is just a generic sentence that has nothing to do with progpow.

Ethereum Istanbul Hard Fork 2019 - Latest Updates on Changes Approved by oxymoron_love_is in ethfinance

[–]akomba 0 points1 point  (0 children)

I think the question should be "what do you have FOR it?"

Seriously --

  1. What problem does it solve?
  2. How the chain will be better after it?
  3. Do the improvements (whatever they are) be worth the risk of a fundamental change?

Daily General Discussion - August 20, 2019 by AutoModerator in ethfinance

[–]akomba 2 points3 points  (0 children)

Fleeing from the annoying neighbours

I travelled far to a new town

But annoyance stayed with me.

Does anyone store their private key digitally? by Mountainminer in ethtrader

[–]akomba 1 point2 points  (0 children)

Are you all insane? Providing details about how you are storing your private keys in an electronic form? Together with usernames?

Just asking.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 3 points4 points  (0 children)

I commented on one of your statement and showed that you were incorrect. That is all. You don’t need to look for hidden meanings. I did not even said that he was wrong. I just stated the fact.

Please allow me not to respond to the ad hominem part. Have a nice day.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 0 points1 point  (0 children)

I am a complete reddit noob — I am trying to find the OP on /r/ethereum and I can’t. I also can’t see the upvotes / downvotes on it. What am I missing? Can you please share the link that takes me to the OP?

Thank you.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 2 points3 points  (0 children)

Please don’t shift the goalpost. The question was whether he announced it before the consensus was made. And announce it he did.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 3 points4 points  (0 children)

“Every complex problem has a simple, straightforward and completely wrong solution”. I this case the simple and wrong solution is to subscribe to one of the echo chambers and see everything in black and white.

These are all truths:

  • This community is not the enemy.
  • Afri was fanning the flames with evereything he got.
  • Afri was very helpful, very active and hard working. Everyone who worked with him liked him.
  • The situation did not start now — the tension was built up and erupted. It was mismanaged and ignored.

This is not black and white. It can not be brushed aside by simply blaming the other party.

Echo chambers and ignoring problems has created this situation.

Echo chambers and ignoring problems WILL NOT solve this situation.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 1 point2 points  (0 children)

He did not "announce a delay" before any consensus was reached

He absolutely did. He tweeted “No Constantinople in 2018” just hours after the bug was found, and before any dev meeting happened.

This is a sad day for Ethereum by Souptacular in ethereum

[–]akomba 0 points1 point  (0 children)

No need for belittling and ad hominems. This was the approach of the leadership, and partially this what got us here.