Bitcoins/Litecoins/Virtual Currencies

James

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Packed some bags this morning for this rocket I'm watching right now: DEXTools.io

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Tmac

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So, ETH is launching EIP 1559, proof of stake, next week???
 

Intrinsic

Person of Whiteness
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I can't speak for the market as a whole, but Truebit has been VERY active the last few days and nearly hit $.36 earlier today. Pretty nice for my liquidity pooling.

Yeah, my TRU pool was doing nicely as well. Only downside is that haven't / wasn't able to start up a larger one because of the holding period of moving out of Coinbase / Binance.us.

Haven't paid attention to anything the past week b/c of work, so nice to come back and suddenly be closer to even. I think my TRU buy in was around $0.20 or so.
 
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Haus

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So, ETH is launching EIP 1559, proof of stake, next week???
Apparently so, or I should say EIP1559 is supposed to be the big step towards POS which will include fee burning. What I fear is that the BTC rally is effectively sapping the oxygen from the proverbial room so any bump it gets will be dulled by increases in BTC dominance and market cap share.
 

Arden

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Apparently so, or I should say EIP1559 is supposed to be the big step towards POS which will include fee burning. What I fear is that the BTC rally is effectively sapping the oxygen from the proverbial room so any bump it gets will be dulled by increases in BTC dominance and market cap share.

I'm personally not expecting much of a bump from 1559. The investors who know what it is have already priced it in. The ones that don't aren't going to notice anything immediately different when it happens.
 

Haus

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Yeah, but also I believe there are some trend studies that show the more often a commodity of any sort bump into resistance and is thwarted it increases the chance it will eventually bust through it. Same with bouncing off support, it will eventually break down.

I still believe we're going to see one more retracement before any serious "threatening new ATH" nonsense comes into play. Although overall I'm long term bullish and I think that's about the only logical stance to take on the crypto market in general right now.
 

Haus

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Don't know how many of you follow perma-bull Ben Armstrong (bitboy crypto), but YouTube just deleted his whole channel for "violating guidelines". No word yet on what guideline.
 

Louis

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Don't know how many of you follow perma-bull Ben Armstrong (bitboy crypto), but YouTube just deleted his whole channel for "violating guidelines". No word yet on what guideline.
Good. Dude is so annoying with how full of himself he is while spewing trash.
 
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Furry

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Don't know how many of you follow perma-bull Ben Armstrong (bitboy crypto), but YouTube just deleted his whole channel for "violating guidelines". No word yet on what guideline.
Probably went creepy in the messages.
 
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Tmac

Adventurer
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Don't know how many of you follow perma-bull Ben Armstrong (bitboy crypto), but YouTube just deleted his whole channel for "violating guidelines". No word yet on what guideline.

I’ve heard him posted here (never watched him) and my second-hand understanding is that he’s an annoying ass shill.

He shilled too hard for the wrong OF?
 

Tmac

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James James what do you think of the DOGE / ETH bridge that Vitalyk was discussing yesterday?


It seems like it essentially makes BTC fundamentals (DOGE) accessible from the ETH blockchain without having to execute an exchange.
 
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James

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I haven't had a chance to watch that, and this dude is annoying as hell so I had to shut it off, but I am very excited about Dogethereum. Smart contract capable wallets for Doge will be a huge driver for DeFi adoption, maybe even moreso than for BTC. Truebit will make it possible, and I believe they'll have to run a task every time a new block is added to Doge or Ethereum, but I need to dig into that some more.
 

Tmac

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I’m pretty surprised that DOGE and ETH didn’t move at all considering we found out that PoS is releasing next week and a DOGE/ETH bridge is coming in the same interview.

Is this the rumor we should be buying?
 

James

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PoS is not releasing next week, not sure where that's coming from. Just a few of the pieces necessary for PoS are coming out next week, but everyone is excited about EIP-1559 for the tokenomics...implications.
 

Tmac

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PoS is not releasing next week, not sure where that's coming from. Just a few of the pieces necessary for PoS are coming out next week, but everyone is excited about EIP-1559 for the tokenomics...implications.

Oh I thought 1559 was PoS.
 

James

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Naw, it implements BASEFEE, so wallets will always know exactly how much to spend on gas to be included in the next block. The big deal is that BASEFEE is getting burnt instead of bundled up with ETH block rewards (e.g. https://etherscan.io/blocks in the Reward column, anything greater than 2 is the gas spent on transactions for that block) which makes the supply potentially deflationary in high transaction fee periods. This combos especially well with Proof of Stake, where block rewards will be reduced substantially and the gas necessary to burn more than the reward will be much easier to hit.

There's a few other EIPs being implemented in this hard fork too, mostly in preparation for PoS merge later this year or early next year.
 
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Haus

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Naw, it implements BASEFEE, so wallets will always know exactly how much to spend on gas to be included in the next block. The big deal is that BASEFEE is getting burnt instead of bundled up with ETH block rewards (e.g. Ethereum Blocks | Etherscan in the Reward column, anything greater than 2 is the gas spent on transactions for that block) which makes the supply potentially deflationary in high transaction fee periods. This combos especially well with Proof of Stake, where block rewards will be reduced substantially and the gas necessary to burn more than the reward will be much easier to hit.

There's a few other EIPs being implemented in this hard fork too, mostly in preparation for PoS merge later this year or early next year.

And they've already mentioned that for some amount of time they will be a hybrid with both PoS and PoW generating new blocks, slowly weening off PoW over time. That's another thing which will hit moderately hard will be all the people currently mining ETH on their video cards when PoW isn't a thing anymore. Either other coins which are PoW will pick up the slack and be worth enough to mine v. the cost of electricity, or else I'll finally be able to upgrade the video card in Mrs. Haus Mrs. Haus 's machine.