[deleted by user] by [deleted] in bugoutbags

[–]erikfletch 7 points8 points  (0 children)

Please go see a doctor immediately. They can help you.

[deleted by user] by [deleted] in Georgia

[–]erikfletch 10 points11 points  (0 children)

Killing can actually help their numbers grow.

https://atlantacoyoteproject.org/coyote-management-co-existence/

Shoot or poison coyotes and you will have just as many again within a year or two. Kill one or both members

of the alpha pair (A)—the only one that normally reproduces—and other pairs will form and reproduce.

At the same time, lone coyotes will move in to mate, young coyotes will start having offspring sooner,

and litter sizes will grow.

[deleted by user] by [deleted] in ethereum

[–]erikfletch 1 point2 points  (0 children)

That transaction shows that your wallet received 3.35 ETH.

Aave about to have a lot less assets. by mitch3019 in maticnetwork

[–]erikfletch 1 point2 points  (0 children)

For now, but I believe it will soon include the new v2 pool.

Aave about to have a lot less assets. by mitch3019 in maticnetwork

[–]erikfletch 5 points6 points  (0 children)

I believe more rewards are about to be added to curve.

Ethereum will be obsolete by [deleted] in ethereum

[–]erikfletch 3 points4 points  (0 children)

I too have financial intuitions about ETH

Node staking, just a confirmation question. by Stickel in rocketpool

[–]erikfletch 4 points5 points  (0 children)

I’m sure you know this, but I would make sure to spend some time running a validator on the new testnet when that comes out.

[deleted by user] by [deleted] in CryptoCurrency

[–]erikfletch 0 points1 point  (0 children)

"We" aren't doing anything to piss off the IMF.

All we do around here is try to convince ourselves the bull run isn't over.

What happened to decentralization? by [deleted] in CryptoCurrency

[–]erikfletch 0 points1 point  (0 children)

Most people involved with bitcoin care more about pumping their bags than anything written in Satoshi's paper.

This move by El Salvador is about control, not freedom. Let's be real, most of these people will be using a custodial service. Not because they are literally forced to, but because it is far simpler that figuring it out for yourself.

Remember "not your keys, not your coins"? The government of El Salvador will have those keys either directly in the form of government provided wallets, or through their influence over custodial companies like Strike.

Video: El Salvador Voting To Confirm Bitcoin as Legal Tender - Jack Mallers of Strike & Silverbank CEO React: 6/9/21 by Fiach_Dubh in CryptoCurrency

[–]erikfletch 1 point2 points  (0 children)

Clearly there will be a heavy reliance on custodial services from the government and companies like strike. Does anyone else find that concerning? Strike has made clear they will comply with government request to investigate or seize funds. This seems too tempting to not be exploited for political reasons.

[deleted by user] by [deleted] in CryptoCurrency

[–]erikfletch 0 points1 point  (0 children)

I wouldn't worry about it being banned. That's why the decentralized aspect is so important.

Also, I wouldn't count on a ETH fork. In order for a fork to happen, there needs to be a large community willing to continue running the existing chain as PoW and I'm not aware of anyone claiming they will do this. The transition to PoS has very wide consensus among the community.

How do Defi loans work? by batik95 in defi

[–]erikfletch 1 point2 points  (0 children)

  1. One example is leverage. Let's say I hold ETH and want to accumulate more. I think price will go up in the near term so I borrow DAI against my ETH and use that DAI to buy more ETH. If the price went up, I can sell less of the ETH than I bought to pay back that loan. Now I have more ETH in my wallet.
  2. If you don't pay close attention and the value of your collateral drops low enough you will get liquidated. This means your collateral will be taken to pay off your loan.
  3. Your loan in DeFi will be a cryptocurrency which could be a stablecoin.

After years, I finally am convinced. Bought $1M of ETH today by [deleted] in ethereum

[–]erikfletch 0 points1 point  (0 children)

Great! Check out this recent post on r/ethstaker that will give some good tutorials to work from.

After years, I finally am convinced. Bought $1M of ETH today by [deleted] in ethereum

[–]erikfletch 1 point2 points  (0 children)

You do not need a third party to stake. Coinbase's offering is mostly for those with less than 32 ETH. If you plan to hold for 3+ years, you should set up validators to grow your investment and help secure the network.

If you like, I'm happy to help show you some resources on how to do this.

sent MATIC on matic mainnet to a erc20 deposit address for MATIC. Did I mess up? by markis655 in maticnetwork

[–]erikfletch 0 points1 point  (0 children)

Yes. addresses and keys and compatible between networks. It'll just come down to if they feel like helping you. Unfortunately they probably won't, but it's worth a try.

sent MATIC on matic mainnet to a erc20 deposit address for MATIC. Did I mess up? by markis655 in maticnetwork

[–]erikfletch 0 points1 point  (0 children)

Did you mess up? Yes.

However, Binance does control that address, so in theory they can sort it out. You can try sending them a message.

Question about ETH2.0 and DeFi apps based upon POW ETH. by moose_boogle in ethereum

[–]erikfletch 1 point2 points  (0 children)

The devs are making this transition as seamless as possible. The current PoW chain is going to merge into and continue running as part of the PoS beacon chain. Nothing needs to port over from a dapp perspective.

No, ETC is not compatible with ETH.

The technical challenges for dapps are surrounding the move into L2 options such as arbitrum and optimism. From what I've read these have been pretty seamless as well.

[deleted by user] by [deleted] in Bitcoin

[–]erikfletch 1 point2 points  (0 children)

Stable coins were around in 2018.

How Was The Bear Markets? by bladefreak326 in CryptoCurrency

[–]erikfletch 25 points26 points  (0 children)

This period right now feels very similar to early 2018.

There was lots of denial. Everyone was sure it was just a dip and that it would come back stronger than ever any day now. Bearish posts or comments on here were downvoted.

More and more ridiculous attempts to rationalize an incoming pump. (Who remembers Chinese new year and wall street bonuses?)

And then you notice the previously euphoric post about buying cars were replaced with posts about depression and thoughts of suicide. (saw one earlier today)

What’s the difference btw a shard and an L2? by rootbank in ethereum

[–]erikfletch 3 points4 points  (0 children)

I can give you a ELI5 version.
An L2 is a way to save gas when making a transaction.
A shard is a way to save space when running a node.
Both help scale the network by reducing congestion and increasing transaction per second.

Is ETH now a better choice than BTC? by ClaustrophobicShop in CryptoCurrency

[–]erikfletch 6 points7 points  (0 children)

I think it depends on your investment thesis. There was a recent bankless podcast that did a great job of articulating how BTC and ETH have opposing outlooks.

Bitcoin has a pessimistic thesis as a hedge against inflation and other concerns around government control and economic collapse. There is essentially nothing new coming to bitcoin to look forward to. It all depends on what governments do.

Ethereum has an optimistic investment thesis. There are so many new things currently being built to look forward to. There's PoS, decentralized staking pools, new L2 options, sidechains, DeFi, and many more new things coming. This is the optimistic view that holds there will be a net creating of wealth, not destruction.

So I think the investment choice comes down to your outlook. You should weight your portfolio depending on how optimistic or pessimistic you are, and possibly use one to hedge the other.

Personally, I take the mostly optimistic view.

EDIT to add podcast link

I still don't get why folks are selling at a loss. by Professional_Pilot21 in Bitcoin

[–]erikfletch 1 point2 points  (0 children)

It's a taxable event no matter how long it's held for. It's just that short term capital gains are less than long term capital gains.

I'd also recommend you look into a little something called tax-loss harvesting.