By - ethfinance
**Tricky's Daily Doots #60**
Yesterday's Daily 17/06/2022
[Previous daily doots](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icowbzv/)
- u/waqwaqattack takes a [leap of faith](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icq9xgp/) for a better future! 💩
- u/Culi122 outlines the [merge progress timeline.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icr55hz/)
- u/Nonocoiner shares the [sorry state](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icpldjm/) of r/Ethereum.
- u/nixorokish gives out some [solid advice.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icod7g8/)
- u/Toothache0 isn't [the chad they thought they'd be now.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icok3nn/)
- "[This is the global financial system that we need.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icrz1pz/)" ~ u/wmsy ^(Followed by a great reply by u/wanglubaimu)
- u/mcmatt05 shares a [great article](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icprv73/) by Matthew Green, cryptography professor at John Hopkins.
- u/Luukiemans updates us on the [EVM Financial Stewardship Proposal Snapshot.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icols1o/)
- u/oblomov1 shares a [contrarian take.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icp26q2/)
- u/wanglubaimu looks back at something at ETH Denver which was probably a [sell signal.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icoo3v0/)
- u/ZeroTricks's today in [Ethereum history.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icoaetl/)
- u/Hawaii_Facts gives an [update on Hodlercon.](https://old.reddit.com/r/ethfinance/comments/ve558e/daily_general_discussion_june_17_2022/icohv9o/)
Hodlercon day #1: [Friendship ended](https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fi.pinimg.com%2Foriginals%2Fc6%2F5e%2Fd8%2Fc65ed819b111f29b6c3e6a86bcf5a929.jpg&f=1&nofb=1) with u/Spacesider and u/KuDeTa in light of them telling me at hodlercon that they don't updoot the daily. Now literally anyone who updoots the daily is my best friend.
My country has no QE whatsoever. We're still getting hit hard by inflation now, around 7-8%.
Japan has been doing QE for ten years. They have experienced inflation for the first time this year after several years of deflation.
maybe this is against normal americans' beliefs but I think it's safe to say that the direct relationship between QE and inflation seems pretty low.
QE doesn't cause inflation. We've been QEing for over a decade and it's fine. It was the massive fiscal stimulus we handed out.
QE doesn't actually increase money supply.
Giving cash handouts to rich people doesn’t cause inflation because they just turn around and invest it again. It never touches ordinary consumer goods. Give middle class or poor people money, now that’s a problem. Now you’ve increased monetary velocity.
This inflation is a direct result of America changing its normal strategy of showering the rich with handouts while letting everyone else go hang.
So there is no impact of manufactured supple shortage. Russia blockade , aggressive anti oil policies ...etc
The impact of lower class handouts as you say would have been mitigated significantly with fixing supply.
More proof poor people can't be trusted and are extremely destructive to this country
QE absolutely does increase supply and a lot went towards inflating stock prices. It’s why stock went so high. The inflation is due to a combination of supply chain issues and increased consumer demand.
Not directly, otherwise we would've seen high inflation long ago.
We pumped money into ppls checking accounts. Combine that with supply chain and different consumer needs from "2019" needs.
What went into checking accounts is a drop in the ocean
So you are saying moar QE?
>They have experienced inflation for the first time this year after several years of inflation.
What? They had several years of inflation, but they are just now experiencing it?
>So you are saying moar QE?
why not as long as the central government can keep the energy price under control ?
>What? They had several years of inflation, but they are just now experiencing it?
0.47% in 2017
0.98% in 2018
0.48% in 2019
they're in the deflation region in recent years.
Japan is a bit of a wierd one, aging + declining population with small birth rate and lots of singles means really low demand
Culture of sacrifice with an homogeneous population since thousand yrs and an average IQ of 103.
Plus their debt is not to foreign entities.
Things make sense. This is not bad.
Until the merge none of this is worth anywhere near $1,000.
What is the earliest possible date for the merge at this point?
Earliest possible? August.
Earliest likely? September.
Interesting that the most prolific building related tokens are down most ATM. ETH & MATIC in double digit downs.
I don’t think it means anything other than showing another point of irrationality.
No idea about the matic case. But ETH was targeted in a coordinated attack through the margin call hunt of 3AC , Celcius...etc. Those entities were heavy on ETH if I am not mistaking.
New twitter achievement: [Attempted ratio](https://twitter.com/TrustlessState/status/1538367261777571842) by nic carter with /u/davidahoffman counter-replying
This is an engagement-baiter's wet dream. I have 0 credentials whatsoever when it comes to economic theories so I'm just sitting back and enjoying my shitpost capturing attention it doesn't deserve lmao
"Notice me senpai!"
Haha. Farming that sweet sweet engagement for no other reason than the dopamine hit of like notifications :)
There's even fewer reasons than that, I'm on that notification disabling grind so the dopamine comes from manually refreshing my shitpost to see new replies and likes all over the place
i love twitter i hope it never changes but also i hate it so much and hope it gets displaced by web3 social media that'll be completely different
GRT holding up well vs ETH. Will be interesting to see what happens to GRTETH as we move towards the free competition in the hosted service being shut down by end of Q1 2023.
I just realized that 3 Arrows Capital got their name from the 3 Arrows economic policies of Shinzo Abe the former PM of Japan after Youtube recommended me a video about Shinzo Abe while watching a video about 3 Arrows Capital.
AI is so smart this day.
I’m sure once we find a bottom that we’ll go straight back up to $3,500 as quickly as we’ve gone down from that point…right?
It'll take 2 or 3 years probably like last bull run.
Maybe but this bull has nothing to do with the last one. Lamest one ever, maybe it 'll be all the pain of 2017 bull to bear without the parabolic of 2017 .
Wouldn't be shocked if we reverse and get a an EW 5th wave to north 10 to 15 k and retrace 90%.
Under the premise of fed pivot due to recession kicking before midterm.
What goes up must come down
Wait what? What was the question again?
Legitimacy really is the scarcest resource, how do people not get that
Sounds interesting. What context do you mean?
The context is crypto folks ignoring or dismissing the social/human element of cryptoeconomic systems, and attributing some divine attribute to the all mighty code that magically makes assets valuable. When in reality digital assets are only valuable if people agree on their legitimacy (this is pretty much the answer to the right click save gotcha against NFT art)
The same argument that "fiat has no inherent value, we all just pretend it does to make the economy run" applies even more to crypto. It's not "this piece of software magically grants inherent value to the coins it issues because of math + decentralization", it's "we agree that *value* is a made up social construct, so we might as well make up something that's actually fair, transparent, neutral, open-sourced, censorship-resistant, incorruptible, etc. and then let's all agree that *that* thing has value."
In a digital realm you can copy-paste 0's and 1's infinitely, but you can't copy paste *legitimacy*. That's the true scarcity.
The quote is pretty much ripped off directly from [Vitalik's blog post](https://vitalik.ca/general/2021/03/23/legitimacy.html) which is a must read if you haven't already.
Sometimes the right move is to do nothing. But at some point the right move will be to back up the brinks truck.
I'm still in crypto however I had been preparing for this event.
Thought that monetary policy was way too loose globally as a response to the global pandemic, whilst it was fun watching crypto go for another ride.
Seeing zombie companies have their stocks pumped to insane levels and the insane rise of meme coins made me deeply uncomfortable.
I have been selling since May 2021 up until December about 70% of my crypto holdings. The remaining amount I have has a cost basis of under $50 for ETH so happy to let that ride.
I was hoping the market wouldn't go below previous ATH but that also happened in 2018 when the bottom fell out of $420 and it kept falling to $90. I was there buying at that point, not saying that will happen again but if it does I'll be once again buying in the blood of -90%+ ETH
Good call , I took a contrarian approach as it was to obvious so was betting on a parabolic blow off top to 10k. I feel dumb to not take the simplest approach but my choice. In 2017 I was too defensive and hated missing the parabolic blow off did the opposite this time. 2 bull market 2 loss !
If you’re not DCAing and instead trying to time the market bottom at -90% type levels most likely means you’ll miss it completely. OP congrats on getting it right last time. And I hope you are right again and we all get to buy super cheap ETH. Personally I’m not waiting for it to drop that far.
> I was hoping the market wouldn't go below previous ATH but that also happened in 2018 when the bottom fell out of $420 and it kept falling to $90. I was there buying at that point, not saying that will happen again but if it does I'll be once again buying in the blood of -90%+ ETH
Wasn't $420 and $1400 part of the same cycle? Falling below the previous ATH in 2018-2019 would have meant going under $20. So, this is the first time it's gone below a cycle ATH.
Although ETH was a lot more volatile and rose faster than BTC at the time, it's hard to consider $420 and $1400 different cycles as BTC was rising steadily throughout that entire period, there wasn't ever a massive drop in BTC until the $20K peak.
Part of the same cycle but it was the previous ATH before $1400 where it fell a lot after hitting $420 then to new ATH of $1400.
I know a lot of people just like then were convinced there is no way ETH could fall below $1400 and it has and I suspect there may be another leg down yet before things get better.
I think the day of 70% btc dom is gone for good as right now stablecoins have enough liquidity for whales and VCs to dump their coins.
Each cycle is different in its own way.
I wonder what BTC dom looks like if we remove stables lol
btcdom sounds like a weird fetish lol
Anyone else here seeing etherscan is down right now?
working for me
I don't like that. Don't think I've ever seen that.
But web2 is gonna web2.
Looks like todays pump might be reversing?
Following the same pattern of the last few weeks.
Sharp drop, slow rise back up, get rejected at a lower price, then next price level down.
Yeah hasn’t been fun. Can’t we just have an all out capitulation and bottom this fucker out?!
2018 says hi
I’m actually hoping for a repeat. I couldn’t be happier about the $80 ETH I picked up back then
$400 ETH would be a treat this cycle
This is the way
No Im not crying you're crying!
Anyone have any thoughts on how blockchain will fair when quantum computing finally goes mainstream?
And Im not talking about the security factor here and whether or not it could break any wallet chosen. Im more thinking about how quantum technology may mesh with blockchain? Could it create an even more secure blockchain?
I've no idea the possibilities or limitations here and Im sure some of this topic is still pure speculation anyways, just curious if anyone has some interesting thoughts on it
Damned interesting question. Secure communication and coordination are exactly the sort of thing quantum information theory/computing tends to be good for, seems plausible it could contribute to more advanced consensus protocols.
We can't really picture what that would look like because we barely know what quantum computers will/would actually look like in practice beyond a few theoretical algorithms to do some pretty nifty stuff really quickly.
And I don't really think quantum computers are meant to go mainstream the same way the personal home computer was meant to show up in every home. There's little benefit to using a QC over a normal PC if all you care about is the normal applications of spreadsheets, browsing the internet, video calls, etc. So Ethereum's philosophy of "should be able to run on consumer hardware" will probably always limit blockchain applications to what a classic computer can do anyway.
So it'll pretty much make ETH more secure by forcing it to upgrade to post-quantum cryptography to protect itself from the threat it introduced in the first place.
The one thing I can think of off the top of my head is if we get Proposer/Builder Separation, maybe there would somehow be a quantum algorithm that is able to instantly calculate the absolute most optimized-for-value-extracting order of transactions and can always outbid other builders. That way you'd end up with quantum computers playing an isolated role in block building, purely because the MEV market incentivized them into existance. But that's a wild speculation and a Quantum MEV search sounds silly to me, but if there's money to be made it'll happen I guess.
Thanks for the reply
Something you said made me wonder if QC did integrate with blockchain, does it stand to reason gas prices would fall? With more robust/faster computing power at the base level, does that equate to lower gas?
Tossing theory out there for the sake of it 🙂
If it did it'd be an indirect second order effect probably. The bottleneck is not the speed of computation, it's state growth and historical storage which is the main reason for the limited throughput of Layer 1
The pain and stress seems so much closer and real than the satisfaction of the good days.
Meh. Is it your first rodeo? I feel actually better than when we were at ath. We're getting a second chance to set our selves up for the next come up... Whenever that will be.
Guess not. Just knee deep. I'll get there.
For real though, where else would you park your wealth right now?
Real estate I guess, if you have the cash, but then you are probably already chilling*.
The non-gold important metals are mostly difficult to actually own in person; except silver. That might be a viable thing to invest in, but I don't know anything about it's supply so I can't be sure. I'd just personally choose it over gold for the utility aspect.
The pound sterling could be a decent bet, but it still seems too reliant on the dollar. If the US goes into depression, AUKUS loses power and the pound looks weaker as a result.
Petroleum and friends are probably a great short term play, but if you are this deep into Ethereum-based defi, are you really going to sell out the environment for something that might get regulated out of relevancy or even just lose economically to renewables?
We're kidding ourselves if we think water rights won't be dealt with by nation state's and force— so how do you invest in water?
As far as my calculus goes, that leaves health/medicine and crypto as viable investments for a global recession/depression. And this sub knows the math when it comes to Ethereum versus other networks; but what are the chances someone outside a medical or insurance background can adequately navigate investing in the healthcare market?
Either you are already in that space or you will be part of the health-stock bubble.
EDIT: Not Financial Advice (which I just realized is NFA, which was "no fuckin around" in college...).
That literally leaves Ether in my mind.
**If this is too political, just delete it.** I think it's mostly economic; but there is always crossover in the two during a global bear market.
#Happy Father's Day (US) to all the dads of EthFinance tomorrow!
*Unless you're overleveraged like that viral tik tok "Big Short 2".
>We're kidding ourselves if we think water rights won't be dealt with by nation state's and force— so how do you invest in water?
To answer this; Suez and Veolia are listed companies. They are the largest companies manufacturing desalination plants which make drinking water from sea water.
Create a business.
Or buy a profitable business.
IMO the safest and fastest way to beat markets & inflation.
Stablecoin farming i think. I won't buy a real estate at the current price.
If interest rates continue to rise housing prices surely must come down, since mortgage rates would suddenly be twice as expensive as previously.
Of course rising inflation means many households just don't have a lot of disposable income to invest, but i'm also wondering where the fuck i should put my money when i start a job in September. Might as well keep gambling it away on Ethereum's eventual success
>If interest rates continue to rise housing prices surely must come down, since mortgage rates would suddenly be twice as expensive as previously.
I understand this, but (if you can help me understand)— in this high interest rate enviroment, does the cost of home ownership not change much overall, your down payment goes down and your monthly payment goes up?
Does the wealth just shift from home sellers to banks?
I'm pretty ignorant to the housing market compared to crypto and equities; but a house is virtually the only material thing I want right now besides the next 32 Eth, so I'm trying to learn.
Unfortunately, I can only research for about 30 minutes before I get upset about zoning laws and minimum square footage requirements in my area.
check this chart out https://imgur.com/a/tC70C8L
Great graph, thanks!
Why would you down payment go down?
I am not an expert on this but just in general if you were previously able to get a mortgage for a house for 500k at 2.5% interest you had to pay 12,500$ in interest per year plus whatever your repayment was. At 5% interest you suddenly need to pay 25,000$ a year just for interest, but you'll still have to repay the mortage as well. So you probably can't afford the 500k house anymore.
I'd expect demand for house to decrease which should just lower housing prices eventually, making existing home owners worse off (cause the house might now be valued less than what they paid for it) and the banks are also worse off because if someone defaults on their existing mortgage they repossess a house that is now worth less then it was before.
> Why would you down payment go down?
Suggested downpayment is like 30% in the US; 25% where I live.
I'm not saying take a lower downpayment, but in terms of getting a mortgage, the cash value should drop with the house price fall, right?
>At 5% interest you suddenly need to pay 25,000$ a year just for interest, but you'll still have to repay the mortage as well. So you probably can't afford the 500k house anymore.
The value versus interest part is what I'm assuming would cancel out.
But I just now realized I forgot that you still have equity in the house; so a high home price with a lower interest is probably preferable in the instant.
I guess I'm so desperate for land a home that I forgot you can sell it for money after you live in it.
hope the power company takes ultra-sound money
Lifetime of money lost in 90 days. Absolutely brutal. Took out a decent amount of profit this time but nowhere near enough. We have to set higher lows and bounce somewhere right? I can't imagine a future where we go sub 100 again. Like they can't allow me to 30x my money again can they? Lol
They can do whatever they want unfortunately. And they do not like decentralization in finance. Right now the big banks are accumulating while their regulator cronies are writing the new laws that will favor both of them and screw the common man.
When things crash, the profit you took will never feel like enough
Going to Bali in a few weeks, will be weird to see all the now impoverished crypto MLM "coaches" there. Can't imagine their business is going well
Get this. Friend who is in Bali real estate says she personally has seen DOZENS of real estate deals fall through, buyers citing "the market" as the reason they are pulling out of the deal.
Canggu is burning
Pure carnage, I'm here for vacation and just yesterday in the sauna room I was listening to 2 cryptobros practically in tears lamenting their paper losses (they haven't sold yet).
Looks like we’re heading to the next leg down after getting rejected off $1,010.
Anyone here actually being greedy right now?
In this bubble? Yes.
IRL? No... I bought Eth instead of that electric bicycle and the 12v compressor fridge I don't car camp enough to justify buying.
Dude, we have a dometic compressor cooler thang, and it is amazing! We bought it originally for camping, and for holidays when we needed extra fridge space, and ended up using it for the ENTIRETY of the pandemic as a drink fridge to extend our refrigerated storage. It has been worth every penny.
I’m always greedy ;)
99% of the people on the internet have their mind made up about every topic possible. Nothing you can do about that. I agree it's one of the more disappointing things to have to deal with through this market crash
I wish more people would make up their mind about reversible computing.
Mainly because it's a fascinating topic, that is likely to be important soon and I just want more people exposed to it. If people make up their mind about it; they've heard of it. And that is a huge improvement over today.
>It's really simple actually. It's a binary bet. We either become the new world elites or our dreams crumble in to dust and all of this was a fantastical experiment to reinvent our failing monetary system.
This is why people hate you. Because you are trying to destroy them and become "new world elites" out of pure greed.
Well still seems my retirement plans of telling the same old story of how it felt to get to the moon lakehouse will get more interesting. But I'm still sure everyone will be tired of hearing it.
I felt ok around $2k waiting for the merge. Definitely not my preference, but it was ok.
This is not great.
Remember those times when 1700 felt like rock bottom titanium never gonna give you up support ?
We just did a 50% drop from that.
You mean when I made a huge buy?… yeah… not cool
In a matter of days
i remember longing the dip from 4800 to 4500, sentiment yelling 8-12k imminent, merge is coming. but here we are
feeling cool as a cuecomber
It's really simple actually. It's a binary bet. We either become the new world elites or our dreams crumble in to dust and all of this was a fantastical experiment to reinvent our failing monetary system.
I can't imagine the ingenuity and discipline of our developers failing to deliver a technology that would eventually be incorporated into our daily lives like that of the telecommunications or the internet. It's said many times here, but I'm here for the tech.
I hope our bet pays off and we'd look back on these tumultuous times with some gratitude, because it is the proof that we earned it.
I'm still imaging a world of zero elites.
Binary Bet. Sounds catchy.
Agreed. Not deploying my stables quite yet (as I think we have some more pain coming), but either todays buys age very well in 2-3 years or Eth is going to 0. Really no in between in my mind.
How would it go to 0? Unless there's a catastrophic software failure... As long as the Blockchain is being used it will still hold 'some' value no?
lol when I say zero I mean like very, low (as in a binary bet) not absolutely zero.
I straight up dont see 0 for a possible price for eth. If I have to ill keep the damn network running on my own machine all by myself and I know I'm not the only one with this attitude. There's just too much going on in the network for it to go to zero demand.
Holyshit i just noticed my buy order for Uni at $3.5 from last year just got filled.
It’s like finding change between your seat cushions.
Did you ever sleep in a bear pit
With apple cores and mice along?
Did you ever lay on ice and grit
Or search for a place where the wind was gone?
Did you ever tramp up endless hills
Past cosy homes with secret beds?
Did you ever dream of a suicide pill
And wake up cold to the smell of bread?
Well I have slept there badly twice
And shared my straw with scratchin' mice
Although you'll find some deep brown hair
I'll tell you something for nothing
**There ain't no bears in there**
There ain't no bears in there
Did you ever have to make a draw
For a hard wooden bench or a bed of stone?
Did you ever Jemmy a stable door
Or scare the horse to escape the snow?
Did you ever invade a neat little yard
Wake up the children who hope for ghosts?
Did you ever cause their dogs to bark
A guests to curse their noisy hosts?
Don't jump in expectin' fun
Don't swagger in there with your elephant gun
Don't enter the cage wavin' a chair
'Cos I'll tell you something for nothing
There ain't no bears in there
Not a single bear in there
Did you ever pass the police at work
And hope that they might take you in?
Did you ever wonder why music hurts
When someone plays it aloof to sin?
Did you ever believe that a smile could cure
A happy face keep you warm at night?
Were you ever fooled by laughters lure
Only to find that they laughed in spite?
Don't jump in expectin' fun
Don't swagger in there with your elephant gun
Don't enter the cage wavin' chairs
'Cos I'll tell you something for nothing
There ain't no bears in there
Not a single bear in there
Did you ever finally find a place
A soft warm bed in a room of flowers?
And when you finally laid down your face
You found you slept for a hundred hours?
A hundred hours
There ain't no bears in there
Not a single bear in there
No bears in there
There ain't no bears in there
Not a single bear in there
⁃The Who, *cache, cache*
I know this is a bloodbath and doesn’t look good at all for who knows how long, but I always get FOMO in bear markets looking at some of these valuations.
ETH is a sure thing as far as I’m concerned, but I’ll be excited to eventually place a few bets on some low caps. Haven’t given up on DeFi tokens as a whole, but will be very selective going forward 👀
I'm excited for the brief dip below $100 that will absolutely be on the table soon if this doesn't slow down.
CRV to $1 or ETH to $1200. Which happens first?
Bitcoin miners now operating at a loss. What happens to Bitcoin's security if prices stay low in the future? POS fixes this.
Vitalik, why have you forsaken me?
On the seventh dip, vitalik’s hands rested. And it was good.
[Price matters not.](https://lumiere-a.akamaihd.net/v1/images/image_d891f74e.jpeg?height=354®ion=0%2C0%2C629%2C354&width=630) Only through development can you be free and one with the chain. An EthFinancier's strength flows by the block.
There are two types of people that we will envy in a couple of years time,
Those that sold the 2021 tops and those that bought the 2022 bottom.
I'm aiming to be in the opposite camp for both categories
> Those that sold the 2021 tops
Only if they bought back in, though.
This market is wild
This is going to sound very r/firstworldproblems, but the most significant bonuses I've received from work have been during the initial dip after an ATH, which I am heavily biased to buy into because I am too much of a bull. Note to future self: don't buy the dip ever, only buy when devoid of all hope. If only my bonuses could line up with these conditions ...
“Only buy when devoid of all hope” I’m saving that
same i saved it lmao
Had a dream that we dropped to $800 and I panic sold 5 ETH. Woke up. We really did drop to $800s for real lmao. But still panic hodling.
We dont hodl to be rich, we hodl to be free 🎵
I see we’re still hanging around 1000 ETH did I miss anything?
Just a 7 month scam wick ser. Bulla szn in tact.
Bitcoin crash at the top of /r/news. Clear bottom signal.
Imo more of a passed the bottom signal.
Not only is it at the top of /r/news, but it's at the top of /r/news *twice*. There are two nearly identical threads on the front page, the only difference is the price quoted.
Say goodbye to 3 digit ETH. We'll never see it again...right? RIGHT?
Good opportunity to ensure you have 3 digits of eth
I just wanted to write the same LMAO 😂 "Right???"
Just echoing some other people in here that cutting deeper into triple digits could be "good for ETH" long term, even if it inflicts some psychic damage in the short term.
a.) We want a broad, diverse, and independent foundation of "true believer" home stakers securing the network. These sorts of violent, high-profile price declines are an opportunity to have ETH trade hands from speculators to potential stakers.
b.) Haven't seen much talk about it yet, but having a low ETH price with mining being unprofitable during the merge seems like it might prevent some potential drama? Bitterly defending the activity of mining seems a lot easier when you're making money hand over first than when you're underwater on the activity.
Congrats eth for hitting $1000
1K POAP wen?
pls no, not after the 5k POAP debacle
When the day comes that we all claim our 5k POAPS , it will be a good day indeed. If we just stay positive (and solvent) until then, we’ll all be fine.
ヽ༼ ຈل͜ຈ༽ ﾉ Raise ur dongers!
^^Dongers ^^Raised: ^^65320
^^Check ^^Out ^^/r/AyyLmao2DongerBot ^^For ^^More ^^Info
It felt better the first few times.
I dont know who needs to hear this, but game 2 of the stanley cup finals is about to start and it should be a good game
Avs just ran a train on Tampa.
Yeah. This is not a good game.... But I was hoping for one. (from a hockey fan, not a fan of either team.)
Yeah not great, but Colorado being beastly is the story here
delist your ETH you fucking bitches
Sorry, is a small sell order at $10K too low?
the floor is what we make it
Lets say I want to trade an NFT against an other. Is there a tool to make such proposition? And Also is there a tool to send a message to the adress I would like to trade with?
Yeah there's a couple of sites that cater this need. Sudoswap.is one, from memory the other is sundaeswap. Be mindful that while they are legitimate sites, they are a playground for scams. Always double check the contract address.
Good luck finding a coincidence of wants.
Etherscan has a messaging system now fwiw
I tried, but do you the other person has to check it or will receive some kind of notification?
Why does ETH have decimal points again in my iPhone's stock widget? I thought those days were long gone. 3 digit ETH sucks when you don't have an income to buy with.
Bullish engulfing on the 4h. I take what I can get
Don’t fall for this fake out pump, steady your buying hands and WAIT.
If you aren't buying in pieces by now, ur just gambling
Yea…. Large lump sum buying in crypto is better than DCA.
It's not necessarily about that, it's more about.... come on, grab what you can below $1,000 instead of waiting.... odds are not in your favor when you gamble that you can buy sub $1k.
$1,000 might very well be the bottom.
You should at least be buying *something* at or below $1k .... if your plan is to buy low. We are low.
I mean, I agree with you long term (say 5 plus years down the road). All us hodlers are gonna be banking. But the truth is dumping my USD stack at 500 instead of now nets me double Eth. It’s substantial. It’s a gamble, but so is all crypto. Go very big or go home.
But what if 500 never happens? Then what?
Better luck next time 😂
Kinda how we got here
What was the name of that Kangaroo themed cross L2 AMM/bridge? I should know, I used it last month. 🤦♂️
Edit: I just used Li.Fi (transferto.xyz) instead. I'd still like to know what the other AMM/Bridge was though.
Just accumulated one more validator to my stack. Feeling good...
Here's round 2 of "I said I would and I did."
My plan (as I posted a few weeks ago) was to buy a validator at $1500 (I did) and every subsequent $500 down from there.
Today I purchased a second validator at ~$980. Next step in the plan is to grab two more validators if we hit $500-600.
Conviction is still high.
If you actually grab 2 more I'm gonna start a gitcoin grant and make you donate one haha (for real though, I'm jealous)
If it drops more after my next buy, I'll need to be a benefactor of a gitcoin round!
This guy knows how to crypto
If history is any indication, and knowing me, I won't be convinced of the bottom until we are 2 years into a new bull run.
Gotta wait for a new 2 x Previous ATH for confirmation !
Still upset about selling my cyberpunk lion for 1 ETH...
The good news is you could spend 2ETH now on EVMs and still be up in USD terms
Lmao this is max pain
"Good news", gotta love the optimism around here
Most of the world’s biggest economies are in too much debt to be able to raise interest rates to match inflation, meaning rates are real terms negative and borrowing and buying stuff is the safest financial choice, increasing inflation, right?
And inflation isn’t coming down unless energy, food, property and russia-ukraine magically resolve themselves
So we’re pretty confidently heading for a huge global economic disaster, and this is absolutely nowhere near the bottom, right? Or what am I missing?
Well, yes and no. It's mathematically certain the fiat system will either undergo some major reforms or collapse at some point in the future, but how *far* in the future us practically impossible to tell. The real limit is in human creativity, as central banks have come up with some truly devious ways to delay the inevitable by making it worse.
However, human creativity is finite and time is infinite, so we can say with certainty this will not last forever. But it can last a surprisingly long time.
If all things are equal, then yes, we are on course for a global economic disaster. But all things are not equal. I personally expect some good news in the near future and a subsequent market rally purely because we've had too much FUD in too short a time. People are looking for a bottom, so they are likely to find a placebo bottom which can drop out from under them.
> So we’re pretty confidently heading for a huge global economic disaster
Heard this before. Every time we have a bear market in more traditional equities everyone screams that the end is near and then policy is changed and everyone regains their senses and we start a new run of economic growth. Everyone loves some good doomsaying as it becomes a sadistic spectator sport but the reality is eventually either Russia/Ukraine will work itself out or the world will adapt and route around the conflict and its consequences. Inflation won't run hot forever as demand is currently slowing way down. You can only raise prices so long when no one is buying like they were before.
> Every time we have a bear market in more traditional equities everyone screams that the end is near and then policy is changed and everyone regains their senses and we start a new run of economic growth
You realise those "policy changes" are essentially just "ok, we'll just get even deeper in debt" ... sooner or later, they won't be able to kick that can any further.
Really? Explain to me the scenario where global economic armageddon comes. And I mean a realistic scenario, not crypto bro economics where your bag of crypto suddenly turns you into a gazillionaire once the scenario comes to pass.
As long as debt doesn't grow faster than GDP over the long term, there's nothing inherently catastrophic about going "even deeper" in debt. Controlled inflation gradually eats away at the debt, too.
Exactly, people act like the econ experts working for the government are just delaying some inevitable fiat collapse if they don’t go back to the gold standard or something. There are plenty of paths where things work out just fine.
You could make the argument that the Fed will choose to pivot and print. If they do it will be interesting to see what gets capital, most likely commodities. HOWEVER there is a case that Eth and BTC could soak capital as well. So maybe we see a run soonish. The only problem with that kind of run is inflation will be bad so lots of things will go up.
In the short term if they continue this policy we probably aren't done. That said though as always crypto is a dumb market so who knows.
I absolutely expect all risk assets, including ETH to bounce bigly if the fed pivots. Almost certainly not happening any time soon though. They've been ramping up the hawkish language, not the other way around.
Not only will raising rates lower demand, but declining asset prices might help ease the super tight labor market. Just look on this thread alone. How many mentions about dusting off the ole resume or going back to work?
The fed pumped the shit of markets for years. They are good with letting people take an L on assets for a while in order to get inflation down.
I think you’re missing the fed pivot which will stave off a global economic meltdown, of course this won’t help inflation but at least we won’t be in the Stone Age
The FED can't pivot as "it won't help inflation" seems like a serious under-selling of the consequences.
Not that letting the global economy melt down is better, we're fucked either way.
The thing is they’ll have to pivot at some point, assuming high rates break everything, because inflation will completely disappear and unemployment will be sky high if they don’t
Inflation is better than the alternative
I think we can both agree the odds of a soft landing are pretty much 0
Yeah, 1% increase in rates is $300b more in interest. Of course the solution to this is borrow more and pay it back, but ofc this leads to an inflationary spiral
relax, the politicians have the task of fixing this.
Still way too much hope for this to be the bottom.
I’d literally feel the same way if we were at $100, only I’d prob do some real degen shit like take out a loan
Anyone who knows what they’re talking about (ie us) is still as bullish as ever
The only real problem is if you’re over leveraged and have a liquidation coming up and you need the money to live, I hope that’s no one here
The real panic is in the tradfi investing subs where the great crypto ponzi is finally collapsing, punishing all the insufferable crypto bros