I think we’ll be going sideways for a while still, but without anything tangible to base that on

Spring/bull is imminent IMO. Price action seems to support it. I am not saying that we won’t get another major leg down, but I think we have bottomed for now. We can range here until most people reach apathy (I’m mostly here) and then slowly surge upwards (I think we’re near here)

Echoing @laughingmime… it’s gotta come with volume. There’s just nothing there right now. It can be a pump or a dump, but something’s gotta give. No one outside the holders cares about crypto right now sadly. It’ll return though. It always does.

Slow grind up still, but most of the volume are existing holders playing musical chairs with their holdings.

When the music stops, don’t get caught holding the wrong narrative. Right now the right thing is defi, it changes with the wind.

There isn’t enough retail yet imo for a bull market this year, hope I’m wrong 😅

If I’m remembering right, @kbrot believes the Nasdaq is likely to correct around 10% in the next few months following its huge gains in the first half of the year, and eth could retest $1400 or lower around October.

Which CL/EL clients are you running?

spez: updooting your comment takes me to an error page, WTF

spez^2: what should we replace “spez” with for edits now that we’re free from Steve Huffman’s influence?

that’s not needed as it’s not needed to sign in anywhere other than your ‘home’ instance, except perhaps when it’s offline

I agree there’s a lot of potential to improve on the fediverse model but I don’t think it makes sense to use Ethereum unless absolutely necessary

have you tried going to the site with your phone and installing it as a web app? Chrome asked me immediately the first time, or if it didn’t I’m sure you can go to settings in Chrome and use “add to homescreen”. I haven’t tried this with kbin as I’m here from a lemmy instance, but the lemmy interface is really quite good when installed as an app

You’re not wrong. I agree that public sentiment is abysmal and trying to talk to somebody about the merits of decentralization suddenly makes you a crypto bro. On the other hand, the bar is so, so low, that small improvements over time, such as UX development, can be really valuable. And large improvements, like the Merge, are a great way to combat misinformation if you find yourself in a conversation with a crypto hater.

Agreed across the board. Good friends of mine that would ideologically align on most issues could not give less of a shit about any of this.

NFTs are a joke to almost everybody, Crypto is just FTX and/or a pyramid scheme to them and a source of some of the most annoying people on Twitter. There is no value in any of this for anybody but the most stubbornly ideological / anti-bank nerds. When it was easy money, it pulled in some normies. Now nobody cares. People are happy to use threads, Instagram, Facebook, Wells Fargo, etc. and I’m not arguing with any of them.

You’re not wrong. This push to decentralize gives me some hope, but even many of the pro-decentralization people mindlessly hate blockchain technology because it’s what they were conditioned to do. They can’t even begin to argue their belief but god damn do they believe it strongly.

I don’t have a lot of faith in the future of the internet or social media. I think it’s going to continue to fracture. We’ll have the centralized internet, and the decentralized internet on the fringes that the rest of us live on.

The people on the centralized services will spend all day complaining about all the awful things the centralized services do while hating on the decentralized services that fix all the things they want fixed, because that’s what they’re going to be conditioned/brainwashed to think. People are too easily tricked and misinformed, and not educated against it, for modern social media. It’s just too fucking easy to manipulate people.

I get the feeling. I’ve been a linux desktop user for 20 years now, waiting for people to see the light. But, sadly they don’t, for all kinds of reasons.

And I’ve made peace with that.

Because things like linux, or ethereum, or the fediverse don’t need huge, widespread adoption to succeed. They need a core of serious, dedicated folks willing to keep pushing it forward while it’s presence in the market acts as a very real check on the centralized and walled off ecosystems.

And eventually, the core of what’s been built will end in up in consumers hands and running their servers in the background, and will gain billions of oblivious users.

I guess two things need to happen so we can get out of this rut in the technology cycle.

One, the Web3 developers and contributors need to shed their engineering mindset and start getting preoccupied with UX and ease of adoption. As you mentioned, we’re not going to convert the market to embrace the tech for tech’s sake; the onus is on us to adapt to the market’s expectations that “it just works”. That’s the Apple model and there’s a ton of money to be made for those who crack that magic formula.

Second, but related to the first point, is that the tech needs to take a backseat and become an invisible layer. No mass market user needs to even know that their next-gen Venmo or SSO is settled on, or powered by, the Ethereum network. We as a community want our champion L1 network to get the name recognition we think it deserves, but the reality is that just like no average user cares about TCP/IP or even knows about it, our own tech needs to efface itself and be a silent enabler of higher-level apps and use cases.

solid rant. Ethereum is just the base layer, nobody has to ask permission to build on top of it, so if a killer app does get built on Ethereum there’s no telling what it will be (unless you’re a visionary like that). Like you said though, it’ll probably be something corporate/VC sponsored with a slick UX that hides its Ethereum roots, and it’ll probably implode and be replaced by the next similar thing in a few years. It won’t do anything for the privacy or self sufficiency its users, but it will boost the value of the Ethereum base layer so that’s fine I guess. But actually open and decentralized applications that can properly take advantage of the security of Ethereum, I don’t think that will ever get mainstream adoption unless said corporate giants think it’s to their advantage to facilitate access to it and create a slick UX for it. And given the open / decentralized nature of what we wish would happen, that’s very unlikely

Me too homie. I’m so damn tired. If only a long time member of this community made something with a good UX and sign in with Ethereum just for this community, just for those reasons. sigh…

Good rant!

I’m personally sitting this one out. I’ve watched Sreeram’s lectures and I share some excitement about the innovative concept of Eigenlayer. I can see that the additional degree of abstraction that it brings creates novel use cases that cleverly leverage Ethereum’s consensus protocol.

But I’ve also chosen to forego some yield by solo-staking instead of playing the LST game because I want what’s best not just for myself, but for the Ethereum network of which I consider myself a modest but principled steward.

For now, I’m applying the same cautious logic to Eigenlayer. I may be foregoing some hypothetical future airdrops and extra yield, but I won’t rush into something so fresh that its impact is not yet fully understood. Like you, the risk of slashing my own node is not even my main concern; the risk of subverting the network is.

The most neutral advice I can give is to read Vitalik’s post on the topic if you haven’t done so already (https://vitalik.ca/general/2023/05/21/dont_overload.html) and decide how much risk the restaking use case you’re considering brings to Ethereum.

if you’re already apprehensive about changing the credentials at all, then I don’t get why you’re even considering pointing them at the eigenlayer smart contract which should be infinitely more scary. But if it interests you and losing a validator wouldn’t completely sink you, then why not do it for 1 validator? It won’t expose the rest of your stack

personally I’m too risk averse to deal with eigenlayer at this time, I like the idea of restaking but the way it works right now feels a bit to wonky and thorny

Here’s an interesting thread (on Twitter, unfortunately) about the centralization risks of restaking: https://twitter.com/0xidanlevin/status/1675866647800709127

What do you like most about it?

Trying to find the time to read it, but will hopefully do so (and finish it) within the next two weeks.

I think embracing and valuing the principles of FOSS, decentralization, anonymity, privacy, ownership of one’s digital identity and data, online security, etc. requires a degree of technological literacy that most people don’t possess. For most online citizens today who’ve only ever known the current centralized Web 2.0 through the glass of a mobile device, convenience trumps those principles even when you explain their value to them.

The Meta crowd and the Fediverse crowd are not two perfect distinct sets - more like a Venn diagram with some inevitable overlap.

People don’t care. They just want to scroll their friends feeds.

did you cut yourself on a falling knife?

Don’t kick yourself. Perfect trading discipline is incredibly hard for everyone. It matters more to keep a cool head when the trade goes against you. You’ll make it back!

If you can learn new rules from a single mistake and stick to them, you’ll be ahead of many, so don’t feel bad.

Ahead of me lately for sure, I’ve had a string of committing the same mistakes repeatedly. It can be an easy thing to do when the fomo hits.

The state of play on 03 July 2023:

• $1959
• €1799
• £1545
• 0.064

I wonder if Mr Eth is here under an anonymous handle.

The state of play on 04 July 2023:

• $1951
• €1790
• £1537
• 0.063

Sort by oldest at the root to get here quicker.

updoot it yourself you degenerate!

When there is a crash and you need to delever, LUSD tends to go up in price a penny or two, which can really increase your repayment costs relative to shorter term maker loans.

For sure, liquity is pretty great. As to why it’s underutilized, it’s similar to what mouse is saying. Particularly in the early days, LUSD commonly ranged from 0.97 to 1.03. It was always fine in the end, but it requires that one extra step of making sure you’re repaying at a beneficial time (or buying troves at a beneficial time). And of course, any add’l step makes a protocol slightly less tasty. I think the range is much smaller these days with added liquidity.

interesting. I never quite liked HN (honestly I didn’t even know it still existed), but this seems interesting. No comments/discussion though, just link aggregation…