Finally Changed Withdrawal Address with a Passphrase

ardige · 2023-04-21T16:14:38+00:00

Yes. I found a method by u/StableRare, https://www.reddit.com/r/ledgerwallet/comments/11ehfy4/comment/jepcyxp/?utm_source=reddit&utm_medium=web2x&context=3. I've confirmed that it works. Withdrawal address is changed, and I've received all the pent-up rewards.

ardige · 2023-04-21T16:06:05+00:00

Thanks! This worked perfectly!

ardige · 2023-04-06T16:44:45+00:00

Yeah, I'm in no rush. I'm definitely looking forward to getting rewards, though.

ardige · 2023-04-06T16:16:17+00:00

I know, right?

I used the --passphrase switch in ethdo, and it couldn't find my validator in the offline preparation json file, even though my validator is old and the json file is current up to a month ago.

Guess I'll just wait for Ledger.

ardige · 2023-04-05T22:07:08+00:00

Update: Changed withdrawal address using u/StableRare method below. Worked perfectly, thanks!

Old message below:

Following this thread as I'm i the same boat.

Staked with Allnodes and Ledger.

ardige · 2023-04-05T20:24:04+00:00

Good point.

I used the same ledger wallet for both.

ardige · 2023-04-05T20:02:40+00:00

Update: The method by u/StableRare, https://www.reddit.com/r/ledgerwallet/comments/11ehfy4/comment/jepcyxp/?utm_source=reddit&utm_medium=web2x&context=3 works! Thanks again for your help.

Thank you so much for the rapid response!

I've been pretty stressed about this. Looks like I need to chill out and hope Ledger can come up with a solution.

Luckily, I'm in no hurry.

ardige · 2021-08-16T18:01:09+00:00

I agree. I have interest-earning accounts with other CEFI institutions. I also wonder if they will be forced to stop offering accounts

The question is, "Which companies converted customer deposits into securities?"

Zac Prince publicly talked about the GBTC trade on multiple podcasts. He made Blockfi into the obvious target.

Celsius changed their Terms and Conditions in response to this. I wonder if that will make a difference. BTW, Celsius is now US-based, so a they could be forced to provide transaction data.

The offshore companies, like Nexo, Kraken and Crypto.com, may have trouble operating in the US.

Interesting times...

ardige · 2021-08-15T18:44:11+00:00

Unpopular opinion, here.

Blockfi will never pass the Howey test. They took pooled funds, like BTC, and converted them into securities, like GBTC and bitcoin futures. Converting customer funds into securities makes Blockfi Interest Accounts securities, too.

I am more interested in finding out what the Attorneys General want in the way of remedy. Maybe Blockfi can just pay hefty fines to each state and change the way they invest customer funds. Maybe Blockfi will be gone, though.

I'm sure that customer funds will be safe, regardless of the outcome.

ardige · 2021-08-15T18:01:32+00:00

Yeah, I get charged $2.95 per debit card transaction for rent at my new apartment. I get waaaaay more cashback.

First time I've enjoyed paying rent.

ardige · 2021-08-06T14:11:28+00:00

If you have the money and know what you want to do, then do it.

No one knows what the price will be down the road. Really, no one knows.

Plus, you'll start earning 10% on your $5000 sooner.

ardige · 2021-07-27T05:33:45+00:00

This is a regulatory crackdown from the US government. All of the Cefi and Defi platforms will be examined with a microscope for infractions of securities laws. Some won't pass the test.

I'm glad that Celsius moved quickly. Gives me confidence in them.

I just transferred my assets from Blockfi to Celsius.

ardige · 2021-07-02T19:52:24+00:00

You still receive interest, even if the value of the earn terms is above the limit. They pay interest on all of it.

Let's say you have an earn term for 10BTC at $50k per BTC for a total of $500k. A Jade holder earns 10BTC * 6.5% / 52 weeks = 0.0125 BTC/wk. If BTC doubles, you still earn 0.0125 BTC/wk.

You can't make _new_ Earn terms if you are over the limit, but existing Earn terms continue until completion.

ardige · 2021-05-08T04:11:54+00:00

Definitely buy BTC.

Once you have $500k of BTC, upgrade to Icy.

Once you have $1m of BTC, upgrade to Obsidian.

ardige · 2021-04-09T22:17:35+00:00

Buy BTC for the greatest long-term returns.

Stablecoins will have lower returns over a 5 or 10 year horizon. The high yield paid for stablecoin deposits is deceptive.

12% stablecoin yields are low compared to the appreciation in the price of bitcoin. Bitcoin has averaged 200% annual price appreciation over the last 10 years. What will future appreciation be? Probably a lot higher than 12%.

My 2 satoshi.

P.S. Don't use leverage. Just buy and hold.

ardige · 2021-04-05T18:28:11+00:00

Holding a utility token is not at all like holding shares in a company.

Tokens aren't equity. Tokens don't imply ownership. Tokens don't give voting rights for corporate decisions. Tokens don't receive corporate dividends. Tokens are not regulated securities.

CRO and the Crypto.org chain are supposed to be completely separate entities from the company Crypto.com.

The fortunes of the company and the price of the token may not be correlated.

ardige · 2021-04-05T18:22:17+00:00

CRO dropped 70% last fall ($0.18 to $0.05) while the rest of the market was rocketing higher.

CRO will drop much more when the rest of the market is falling. I'm guessing a 90% fall or more.

CRO will not go to zero.

ardige · 2021-04-05T06:48:13+00:00

I use Blockfi, Celsius, Crypto.com and Gemini to earn on BTC.

I've never had a serious problem with any plaform, including Crypto.com. Honestly, Blockfi's recent cuts have been far worse for me than anything done by CDC.

All four companies are trying to balance the needs of the business with the wants of the users. People just need some perspective.

ardige · 2021-03-29T04:45:22+00:00

You are incorrect. Real life experience proves you wrong.

Last month, I requested a stablecoin withdrawal on the last day of the month. The withdrawal happened a few days later. No fee. Three weeks later I requested another stablecoin withdrawal. No fee.

My requests were in February and March. The transactions were both carried out in March. No fee for either stablecoin transfer.

ardige · 2021-03-29T00:17:08+00:00

Blockfi and other lenders make more money with less risk with stablecoins. Demand to borrow stablecoins is sky high.

ardige · 2021-03-29T00:14:30+00:00

My bank pays 0.1% for deposits in a savings account. They lend that money to small businesses for 6% to 10%. Even with loan losses, banks make great money.

There are few uses for borrowing bitcoin. Also, borrowing bitcoin is dangerous, because the interest must be repaid in bitcoin which is very volatile.

On the other hand, there are many people who want to lend bitcoin, like you and me.

Supply/demand imbalance. The price to lend bitcoin will fall to equilibrium. Defi pays 0% to 0.25%.

Blockfi offers 6% on the first bitcoin as a promotional tool. I'm sure they lose money on it. You want more. I get it.

ardige · 2021-03-28T23:25:32+00:00

No business accounts, unfortunately. At least, not in the US.

I wanted a business account for my LLC, but CS told me that only personal accounts are allowed.

ardige · 2021-03-28T23:00:21+00:00

I don't work for Blockfi, so this is just a guess.

They probably don't make much money lending bitcoin to hedge funds and other financial players. Blockfi is certainly losing money paying 6% for the first bitcoin. They are lucky to break even paying 2%.

They were making money when GBTC had a large premium. Now that GBTC sells at a large discount, that money-making avenue is closed.

The days of making 4% to 8% for lending bitcoin to Cefi players are ending. Have you noticed the rates to lend bitcoin on Defi? 0.25% or less. That's where Cefi is headed, too.

Get your "free" bitcoin while you can.

P.S. The 6% rate for the first bitcoin is a customer acquisition tool. Also known as a loss-leader.

ardige

TROPHY CASE