$ (ETH) Ethereum - ETH and the Ethereum Project General Discussion

[Polyboros2]

That sounds very interesting... tell me more.

I mean I'm pretty sure it's still in the top ten, Polkadot. Another pop up to compete with Etherium's awful transaction speed and cost, has a system where you can invest your Dot into teams developing alt coins in their system and you get a proportional amount back in the crypto coin after they developed it. I don't mess around with that though, and just stake on Kraken.

ETH probably isn't a bad investment, i don't have a ton into it, but it's still the standard despite it's problems, and unless ETH2 somehow monumentally drops the ball, once it works quick and cheap it'll probably continue to dominate crypto transactions. BTC is a novelty as the first and can hold value as such, but ETH2 is PROBABLY going to be the standard for Internet crypto transactions.

 

[mindlessobserver]

All Cryptos shot up about 12%, not just Ethereum. As for why Cryptos are all climbing, the inflation report came out and it was bad. Despite the fed increasing rates, it exceeded projections and climbed to 9.1%. There was a subsequent pile on into assets in response. Remains to be seen if it will climb higher. I think people are going to wait to see what the Fed does in July.

 

[Stan]

Here’s my awesome ETH plan:
1. Hold USD, buy ETH fractionally until I get to 32. I’m actually pretty close.
2. Open a node.
3. Be set for life

Anyway, serious advice about tokens: HODL if you bought ETH high. Most people make mistakes when the price goes down quickly, because they panic and sell it all. This turns paper losses into real losses.

Don’t over leverage. Idk if anyone here is savvy enough to do that but I’m hearing reports of people who got wiped out in the last price contraction because they were 100x leveraged. As soon as the price dipped a little bit, those people got wiped out. It’s the same principle as margin call in traditional options trading. Buy your ETH with cash, and nobody can make you sell at unfavorable times.

Don’t get greedy. The biggest mistake I made so far was to buy a good bit at ETH 3.8k, and then didn’t have enough USD to take advantage of the later price correction (when ETH dropped as low as 800.)

Don’t sweat buying the deepest bit of the dip or selling at top peak. You probably won’t nail it (in 5 years of trading, I did it once with DOGE, and my total alpha was small.) this is trading psychology; people see gains they didn’t cash out or dips they didn’t but as “lost money” and then they make dumb mistakes, like a problem gambler.

Fwiw I think ETH is here to stay, and having some will likely prove a good investment in the long run.

 

[Stan]

All Cryptos shot up about 12%, not just Ethereum. As for why Cryptos are all climbing, the inflation report came out and it was bad. Despite the fed increasing rates, it exceeded projections and climbed to 9.1%. There was a subsequent pile on into assets in response. Remains to be seen if it will climb higher. I think people are going to wait to see what the Fed does in July.

(Sry for DP)

It’s honestly more complicated than that. USD inflation isn’t translating into the crypto gains you might expect and the market is still weak from its last big downturn. Most of the price increase in ETH is a rebound as new money enters the market because ETH was way undervalued for the last 4 months.

The current inflation situation is odd. Other investments like PMs (gold etc.) are down, and gold is the OG hedge against inflation and has been for millennia. Neither ETH nor BTC are picking up that much slack, compared to the high rate of inflation. Other places you could take your money are also contracting a bit (housing demand is actually declining, inflation ought to increase housing demand because inflation reduces the value of mortgage debt while the house price keeps pace w inflation.) stuff that one would think people would cut back on, like vacations and hotels are more expensive because of inflation + high fuel prices+ pent up demand. It’s complicated fam

 

[Retarded INTP]

What is the general consensus here about ETC ? It's starting to grow and I'm itching to buy some in bulks just in case it explodes after the elusive merge. Am I being even more retarded than usual for considering this move ?

 

[Oxous]

Tornado Cash has been sanctioned by the U.S. Treasury because North Korean hackers used it. They also included a bunch of random addresses connected to it. Crypto people so far seem to be very confused on how to react.

"As a result, all U.S. persons and entities are prohibited from interacting with Tornado Cash or any of the Ethereum wallet addresses tied to the protocol. Those who do may face criminal penalties." - CoinDesk

 

[guidmaker]

View attachment 3503779
Does this mean Coinbase will let me access my ETH2 on September 19?

They're finally letting us "unstake" and trade.

https://help.coinbase.com/en/coinbase/trading-and-funding/staking-rewards/cbeth

Trading just started today, currently at a hefty 7% discount, about as I expected for launch.

https://www.coinbase.com/advanced-trade/CBETH-ETH

I was worried they were too insolvent to give us this feature that most exchanges have had for a while. We'd have to wait until early 2023 to actually unstake otherwise.

 

[412-L]

The Merge is real.

https://blog.ethereum.org/2022/08/24/mainnet-merge-announcement

 

[Dambusters' Dog II]

The Merge seems rather anticlimactic so far.

 

[Glass House]

The Merge seems rather anticlimactic so far.

The Merge being implemented shouldn't have effected prices at all. There's a couple things as a result of the Merge that could effect price.

1. The miners who sold everything they mined aren't going to be selling anymore and that could make the price gradually climb without that selling pressure.

2. The mainstream criticism of Crypto as a whole has been the energy usage. That can't be used against ETH anymore. I'm not sure that eco people are going to go out to buy it now, but it's something.

3. It's possible that miners were a major user of ETH and it will stagnate now that they are gone.

4. Post merge, there is a reward for holding long term. Of lots of ETH is staked, then we could see the price climb.

I'm personally holding on to all the ETH I mined the last three months, I'm hopeful it will go up soon. But right now it is completely tied with the overall stock market and won't breakout while everything is puking.

 

[412-L]

I'm personally holding on to all the ETH I mined the last three months, I'm hopeful it will go up soon. But right now it is completely tied with the overall stock market and won't breakout while everything is puking.

Are you switching to mining something else? I've been thinking of switching to RVN.

 

[tulskij_tochnyj]

The Merge seems rather anticlimactic so far.

The real fun starts when/if regulators will order validators to censor transactions from sanctioned entities. ETH is mainly staked by CEXes and companies in turbocucked jurisdictions (NA, Europe). Also, isn's stETH locked for 6-12 months, so individuals can't even withdraw it from cucked pools?

 

[awoo]

Coincidentally I was cleaning out my hard drive today and visited ethminer repo which is archived. I wondered why then I remembered mining is dead

 

[mindlessobserver]

The real fun starts when/if regulators will order validators to censor transactions from sanctioned entities. ETH is mainly staked by CEXes and companies in turbocucked jurisdictions (NA, Europe). Also, isn's stETH locked for 6-12 months, so individuals can't even withdraw it from cucked pools?

Yep. Coinbase scammed everyone, including me. I hope the fuckers catch a lawsuit. I wanted to sell my ether when I sold everything else back in December, but even I fell for "Soon". So while all my shitcoins were sitting pretty, my "blue chip" got to ride the lightening. Fuck Coinbase.

That said, I don't think ETH is going to tank. Its caught up in the economic downturn like everything else. Even Gold and Silver have lost bigly. If you are like me and trapped in this bear market, just ride it out.

 

[wtfNeedSignUp]

So I have questions about 2.0. From what I understand:
1. No more mining.
2. You get more Ethereum by validating transactions.
3. You get proportional to the amount you already have.

Doesn't that basically make Ethereum a bank where rich people get richer off interest while poor people will likely have their ethereum devalued due to earning less than printed? It kind of feels against the whole point of non fed currency, and the automatic printing will probably make the value far more stable.

 

[lornaderek]

Doesn't that basically make Ethereum a bank where rich people get richer off interest while poor people will likely have their ethereum devalued due to earning less than printed? It kind of feels against the whole point of non fed currency, and the automatic printing will probably make the value far more stable.

pretty much. this is why i've stayed away from any proof of stake coin, there is also "delegated" proof of stake which adds the ability of people to vote on transaction verifiers but i feel like that can and will be abused as much as normal PoS

 

[mindlessobserver]

They also lied. They said you could unstake after they went to Proof of Stake. Well apparently no, you can't lol. You gotta wait until 2023! Then you can unstake! Maybe!

Also please do not redeem sirs!

The ETH project had so much promise. A shame they are lying so much.

 

[northstar747]

They also lied. They said you could unstake after they went to Proof of Stake. Well apparently no, you can't lol. You gotta wait until 2023! Then you can unstake! Maybe!

Also please do not redeem sirs!

The ETH project had so much promise. A shame they are lying so much.

Wait so how does staking work if you cant unstake shit?

 

[Planted]

They also lied. They said you could unstake after they went to Proof of Stake. Well apparently no, you can't lol. You gotta wait until 2023! Then you can unstake! Maybe!

Also please do not redeem sirs!

The ETH project had so much promise. A shame they are lying so much.

you can liquid stake if you're smart. Like, use rETH and RPL.
but besides that, the node operators (the original stakers before the company/coincuckbase crowd) all knew unstaking would be added post-merge. the main point of staking was the belief in the merge/POS would go well and your reward for that belief was 10-5% to be withdrawn later. sorry the companies lied to y'all or there was a misunderstanding...

 

[mindlessobserver]

you can liquid stake if you're smart. Like, use rETH and RPL.
but besides that, the node operators (the original stakers before the company/coincuckbase crowd) all knew unstaking would be added post-merge. the main point of staking was the belief in the merge/POS would go well and your reward for that belief was 10-5% to be withdrawn later. sorry the companies lied to y'all or there was a misunderstanding...

In the case of Coinbase it was definitely lies lol