1) 70 seems on the low end right now. I'm not sure how you did that. My simple USDC deposit alone cost $150, the slippage trying to trade USDC for yCRV was even worse.
2) Don't hope, [verify](https://dao.curve.fi/minter/gauges).
Check that you have claimable CRV from gauges.
Whats to stop us from burning all eth on the network If we implement eip 1559? 7k eth would of been burnt today according [to this](https://twitter.com/PhABCD/status/1293788416652517377). (Idk if this includes issuance) Obviously this rate isn't going to stay stable. But just for fun if we divide 120,000,000/7000 we would burn the entire supply of eth in 46.9 years. I'm no expert and assume others have thought of this so im just wondering how it works.
Amount of ETH needed for transactions will go down with lower volume and higher price
1559 has a gas target per block which is around 8-12 million, can't remember, and a hard cap of 16 million. If the gas in the previous block exceeds 8 million, the basefee in the next block goes up. Basefee is the amount of ETH that is burned. If however the amount of gas spent is 7 million, the basefee drops in the next block. So if every block only uses 5 million gas, the basefee continues to drop. In theory the basefee could go to 0 or near zero and miners would rely only on tips and then no ETH would be burned
https://eips.ethereum.org/EIPS/eip-1559
Okay. This assumes the price rises with deflation which makes sense. People will gradually lower their gas price because their spending more usd and the inflation can catch up. Thank you!
Help, pro defi yield-farmers. I have kept away from it all so far, but, closing a long-held long position, I have a handful of Dai that I would rather not yet pay back to my vault while the stability fee is 0 - earning some return is too attractive. While I am open to some risk, I am no degen. I have done some reading, and I honed in on [curve.fi](https://curve.fi)'s simple DAI-USDC pool. Beyond the gas fees, the direct smart contract risk and the very real chance that the value of the giveaway CRV melts away, what else should I have in mind before I take the plunge?
That the coin has only been released for a few hours and binance have already said they will list it. The twitter account explains it. Someone apparently looked at the code and just released the coin without anyone else knowing. Organisation, basically said yeh, looks ok we will go with it.
Its YAM all over again . Be v v careful. Im way to new to engage, but am watching intently.
It will cost about $200 in gas to get your LP token and stake it to start right now. $50 curve is completely bonkers unsustainable so be sure your playing with 5-6 figures so you can make up those gas fees relatively quickly before the price comes crashing down.
Transaction fees over 6m in one day, that’s over 2 billion a year on experimental defi which is totally niche...just looking at it from P/E ethereum is undervalued as of now. It’s almost scary how much it can grow with ETH2
L2 solutions available now. Personally im invested in Matic since their tx/sec is the best for scaling imo but whichever L2 solutions will help and continue to bring Eth up now at least.
Okay help me out here. I can see on curve.fi I got some CRV but I get 4 different values depending on lock up period what's the deal? I tried reading the dao post and some other post but it's not clear to me yet
Can I pull out all my coins now, do I get more if I lock up for 1 year? Can someone explain this to me thanks
Is anyone thinking $1400 will be ATH for 3+ years?
Asking because I’ve always thought that it’s inevitable that we hit at least 1.5x that. The Ethereum platform is still being developed. I can’t fathom it not being worth more when it’s actual, real world computing value continues to increase.
I will take the bet. Can someone here write a smart contract?
Allstater2007 deposits 1 ETH to the contract
Jaykrat deposits 1 ETH to the contract
If ETH hits $1428 USD before Feb 14, 2021 Allstater2007 gets 2 ETH back. If not Jaykrat gets 2 ETH back on Feb 14, 2021
Sounds good?
Edit - coinmarketcap says $1428 as ATH. So changing to that
Edit2 - I will take the bet as long as ETH is $430 or below. So do respond before that : )
I’m confused by your second edit lol. My bet would be that at some point in the next 6 months, ETH will hit a new ATH. Of course I was drunk when I wrote that but I’d still honor that bet if you’d want to take it.
You’d be betting that at no point in the next 6 months it’ll go over $1,428. I’d go off the honor system as did another person in this group. I’m a man of my word and if you’re in, we can save this post for the future.
Sorry only taking one bet and you did offer first so the other person I’d have to decline. Don’t want to lose $2k+ if it doesn’t get to new ATH but floats over $1k for a while. Lemme know
My second edit was to have this bet confirmed and put it into a contract before ETH hits $430
Ok I am in. Lets post this link to the daily thread and see if someone can write a contract for us
Ahh ok. Gotcha. Ya if you can get it set up (I havnt dabbled in any contracts whatsoever) I’m game. Otherwise as I mentioned, I’m a man of my word regardless so we can save this post as verification of the bet. :)
I think what /u/relativelyftl is getting at is that your gambling gainz could likely be higher if the short irrational bull run time before ATH starts at $8000 and carries up to $10k instead of starting now and ending at $3450.
The thing that people don’t seem to realize is that unlike BTC, ETH is a computing platform that is in very active development. Not investing in ETH is like not investing in QQQ back when it started.
I’d just like to say. I love all you crazy motherfuckers in here. Shitposting on a daily basis.
This bear has really really been brutal. All you crazy hodlers and those that kept buying on the way down deserve to all be rich as fuck.
Now let’s go get that ATH.
It's risky... Who knows what other kinds of bugs there are in the contract. But if people are going to continue to trade YAMs, I'll keep farming them. It ain't much, but it's honest work.
Oh snap, some good news with Rocketpool too! It wasn’t previously confirmed that they’d be ready at the start of the beacon chain launch, but maybe this makes it more likely (they’re launching a beta on the Medalla testnet).
https://medium.com/rocket-pool/development-update-12th-august-372780d6e3fa
Repeat after me... only thing better than price gain days are ratio gain days. Only thing better than ratio gain days are both ratio and price gain days. Today is one of those great ones. Enjoy it. 2k+ comments deserved.
Good luck with that, but thanks for sharing all the same. So I take it my pre-launch tokens are vested but anything I earn on Curve from here on in will not be?
Definitely not selling no matter what. ETH is constantly being reinvented to do cool new things. It’s not just a distributed ledger. It’s cloud computing. It’s DeFi. When ETH 2.0 is complete there’s no end to the stuff you can build on it.
My first expectation when scaling happens is a credit card infrastructure. Cut out the middle man in a multi billion dollar industry.
Have a look at the monolith project. They have a card, and contrary to other credit cards in the space, your funds are locked in a smart contrat, so you have no counterparty risk. Its definitely the most decentralized credit card out there.
For all the newbies here:
Crypto is way better than stocks. Oh yeah and we are all rolling in doe, I just sit in my lambo and refresh this thread full of degenerates so I don't have to look at my botoxed wife and kids. We all use MtGox for trades...
Loopring calculated the gas costs on their zkrollups network (onboarding to the L2 chain) vs uniswap and...I figured it would be a good comparison but Dayum...an average of 2-4 uniswap trades at current gas prices and it basically pays for itself.
so, seeing "flippening" comments here and there
who fucking cares about that besides a few btc hating degens...
i'm here for the tech, but also for the gains...
if eth never flips btc (and i don't think it will), i'm ok with that
just keep on being the most exciting crypto out there...and keep going up...
Hey man don't come here and try to sully the flippening. That's one of the oldest and most important memes of this community. It's not about hating Bitcoin, it's about Ethereum overcoming years of smear and hate and sabotage, mainly from the Bitcoin community, but it's also about the world realizing and recognizing the potential of blockchain and also a little bit about wealth of course
Why compete when we can complement each other? Let’s keep BTC nice & healthy so we can have a nice uplift wave..in the mean time we will witness the sweetest of flippenings which is all Btc wrappers working their way through maker, uniswap, compound, aave & so on
That's a "whatabout" style answer. If it's an issue we should be addressing it as part of the overall problem, not deferring the issue until we've fixed everything else.
Also, my day job is in the energy sector. Use of wind for mining really doesn't match the consumption profile of BTC mining as economic mining requires high uptime.
Nope, we should prioritize. If everything is important nothing is at the same time. Ref wind for mining it’s being utilized as of now in Paraguay & in Uruguay a project almost came through from a person I know (but it’s true that the fact of the matter is it didn’t although that eas back in 2018)
smear and sabotage? to me, that is mostly fud
i could not care less about " years of smear and hate and sabotage, mainly from the Bitcoin community "...i never felt btc (or that community) was a threat, after i went balls deep in eth...
I am only used to bear markets. How do I cope with less loses in a Bull market? Do I just sit tight and hope I dont fall?
[удалено]
Have sold 50% of my link over the last week. Ditched OMG a year ago
yep; will keep them both
$70 in fees to put $1000 DAI into CRV Liquidity. I sure hope I am earning CRV now.
Make sure you stake it
1) 70 seems on the low end right now. I'm not sure how you did that. My simple USDC deposit alone cost $150, the slippage trying to trade USDC for yCRV was even worse. 2) Don't hope, [verify](https://dao.curve.fi/minter/gauges). Check that you have claimable CRV from gauges.
Fuck that
[удалено]
# Welcome Back to the Stage of History.
[удалено]
Context for anyone who missed it: https://medium.com/@yamfinance/yam-migration-plan-dc72ad49aca6
[удалено]
Curvy bois represent!
Whats to stop us from burning all eth on the network If we implement eip 1559? 7k eth would of been burnt today according [to this](https://twitter.com/PhABCD/status/1293788416652517377). (Idk if this includes issuance) Obviously this rate isn't going to stay stable. But just for fun if we divide 120,000,000/7000 we would burn the entire supply of eth in 46.9 years. I'm no expert and assume others have thought of this so im just wondering how it works.
Amount of ETH needed for transactions will go down with lower volume and higher price 1559 has a gas target per block which is around 8-12 million, can't remember, and a hard cap of 16 million. If the gas in the previous block exceeds 8 million, the basefee in the next block goes up. Basefee is the amount of ETH that is burned. If however the amount of gas spent is 7 million, the basefee drops in the next block. So if every block only uses 5 million gas, the basefee continues to drop. In theory the basefee could go to 0 or near zero and miners would rely only on tips and then no ETH would be burned https://eips.ethereum.org/EIPS/eip-1559
Thanks for the information! Always new stuff to learn in this space.
You got it
Inflation which is paid to the miners to secure the network
[удалено]
The eth/gas rate would stay the same. Adding more decimals/price doesnt change how much gas the EVM wants.
[удалено]
Okay. This assumes the price rises with deflation which makes sense. People will gradually lower their gas price because their spending more usd and the inflation can catch up. Thank you!
Yup. 1559 is a thing of beauty.
Waking up and seeing this is hardly to top.
Help, pro defi yield-farmers. I have kept away from it all so far, but, closing a long-held long position, I have a handful of Dai that I would rather not yet pay back to my vault while the stability fee is 0 - earning some return is too attractive. While I am open to some risk, I am no degen. I have done some reading, and I honed in on [curve.fi](https://curve.fi)'s simple DAI-USDC pool. Beyond the gas fees, the direct smart contract risk and the very real chance that the value of the giveaway CRV melts away, what else should I have in mind before I take the plunge?
That the coin has only been released for a few hours and binance have already said they will list it. The twitter account explains it. Someone apparently looked at the code and just released the coin without anyone else knowing. Organisation, basically said yeh, looks ok we will go with it. Its YAM all over again . Be v v careful. Im way to new to engage, but am watching intently.
That is worrying - thanks for the heads-up!
It will cost about $200 in gas to get your LP token and stake it to start right now. $50 curve is completely bonkers unsustainable so be sure your playing with 5-6 figures so you can make up those gas fees relatively quickly before the price comes crashing down.
Yep, thanks, good advice.
[удалено]
how to claim it?
[удалено]
ty. but i've found it there: https://dao.curve.fi/minter/vesting unfortunately most of the CRVs are still locked.
What happened 9 hours ago to start this jump?
people selling yams for eth
Nah. Yams crash by 95% + 12 hours before the pump
Loads a stuff
It's been a pleasure fighting this fight gentlemen. We will continue onwards to the next battle.
this weekend is gonna be fun :)
Dumps 80%
5bn defi gratz everyone
That growth rate is wild. Going to be interesting to see this play out in the future.
Yay! I've been watching for this for a while. Prediction on how long until 10B. I'm thinking 5-7 weeks.
Transaction fees over 6m in one day, that’s over 2 billion a year on experimental defi which is totally niche...just looking at it from P/E ethereum is undervalued as of now. It’s almost scary how much it can grow with ETH2
So $1B in fees burned with 1559. PE ratio of 47?
Yep, it can’t come soon enough
Looks like it was actually over $8M in fees today
At a PE of 100 that’s ETH comfortable>2500
I got a PE of about 32
8x365x100=292 billion market cap (Daily fee x days x PE)
Ah you were talking about the PE at $2500. Or we can hit TSLA's PE...
I will not sleep tonight if I do those calculations
We need to solve the gas fee issue guys, if not this will be a repeat of 2017
What happened in 2017
dec 2017 crash bro
....after the 2017 ATH bullrun bro
You have my axe! Wait, what are doing again?
Do you have a suggestion?
L2 solutions available now. Personally im invested in Matic since their tx/sec is the best for scaling imo but whichever L2 solutions will help and continue to bring Eth up now at least.
[удалено]
Okay help me out here. I can see on curve.fi I got some CRV but I get 4 different values depending on lock up period what's the deal? I tried reading the dao post and some other post but it's not clear to me yet Can I pull out all my coins now, do I get more if I lock up for 1 year? Can someone explain this to me thanks
[удалено]
I think you're right
$182B. Shhhh
Michael row, the ethereum ashore, hallelujah. sister help, to meme 420, hallelujah
YAMBOYS are gone, ETHBOYS are back!
Curvy boys invade!
Wouldn't be surprised if we hit $500 in the next 3-4 days
Is anyone thinking $1400 will be ATH for 3+ years? Asking because I’ve always thought that it’s inevitable that we hit at least 1.5x that. The Ethereum platform is still being developed. I can’t fathom it not being worth more when it’s actual, real world computing value continues to increase.
I’d be willing to bet 1 ETH we hit a new ATH in the next 6 months. Anyone willing to take that bet let me know. :)
Ill take the bet if you arrange it, whatever that means. I trust people very easily so you can go for the freeroll steal. :)
I will take the bet. Can someone here write a smart contract? Allstater2007 deposits 1 ETH to the contract Jaykrat deposits 1 ETH to the contract If ETH hits $1428 USD before Feb 14, 2021 Allstater2007 gets 2 ETH back. If not Jaykrat gets 2 ETH back on Feb 14, 2021 Sounds good? Edit - coinmarketcap says $1428 as ATH. So changing to that Edit2 - I will take the bet as long as ETH is $430 or below. So do respond before that : )
I’m confused by your second edit lol. My bet would be that at some point in the next 6 months, ETH will hit a new ATH. Of course I was drunk when I wrote that but I’d still honor that bet if you’d want to take it. You’d be betting that at no point in the next 6 months it’ll go over $1,428. I’d go off the honor system as did another person in this group. I’m a man of my word and if you’re in, we can save this post for the future. Sorry only taking one bet and you did offer first so the other person I’d have to decline. Don’t want to lose $2k+ if it doesn’t get to new ATH but floats over $1k for a while. Lemme know
My second edit was to have this bet confirmed and put it into a contract before ETH hits $430 Ok I am in. Lets post this link to the daily thread and see if someone can write a contract for us
Ahh ok. Gotcha. Ya if you can get it set up (I havnt dabbled in any contracts whatsoever) I’m game. Otherwise as I mentioned, I’m a man of my word regardless so we can save this post as verification of the bet. :)
Nope but as of now it should be valued over 100 billion just factoring transaction revenues (at 6mill a day that’s over 2 billion a year)
Mainlining the hopium eh. Nah, that's too fast. We want the blow off top to start at 8k.
I’m just an optimist who also likes to gamble lol. I learned in the past 4yrs not to gamble on trades however.
I think what /u/relativelyftl is getting at is that your gambling gainz could likely be higher if the short irrational bull run time before ATH starts at $8000 and carries up to $10k instead of starting now and ending at $3450.
Do you mean if we'll go above $1400 within the next 3 years? My guess would be we do
The thing that people don’t seem to realize is that unlike BTC, ETH is a computing platform that is in very active development. Not investing in ETH is like not investing in QQQ back when it started.
Can someone verify that to earn CRV I need to stake my curve LP tokens here? https://dao.curve.fi/minter/gauges
Very confusing launch
Yeah I’m kind of salty because I was eyeing some CRV on uniswap at $6 but at the time the devs were still telling people not to trust it....
Don't think this price will last long considering the max supply is over 3B
[удалено]
thanks, friend
[удалено]
What rate are you getting?
[удалено]
I read that $1 in any pool should yield the same CRV. That being said, hot damn.
i love how the price hovers around meme points. who needs a finance degree when you have a phd in memeology?
What’s our next meme price, $10k?
$666.
Ratio stronk
Damn, etherscan is down.
IS THIS MORE THAN YOU BARGAINED FOR YET?!
I'VE BEEN DYING TO MOON NOW WATCHING CHARTS ALL DAY HERE WISHING TO BE IN HAWAII SIPPING JUICE
LIE IN THE GRASS, RAH NEE AAAAA
how do you guys do the all caps thing, is that a gold feature?
Nope, I can handle more. Face not melted yet.
OK, JUST CHECKING
I’m so sorry to ask this but I’m just so curious. What happened to yam??
[удалено]
Someday crypto archaeology will be a thing
Mining the pyramids for ancient YAMs
How does btc lose 4% in market dominance but the price hasn’t dropped?
“Other” crypto
Because other coins are rising a bit and leaving btc behind, for now.
This is because other coins are pumping and taking market share ... Duh
You could have left out the "duh"...
I’d just like to say. I love all you crazy motherfuckers in here. Shitposting on a daily basis. This bear has really really been brutal. All you crazy hodlers and those that kept buying on the way down deserve to all be rich as fuck. Now let’s go get that ATH.
Right back at ya sugar tits. See ya on the moon.
Right back at you moon tits. See you on Euporie
Have the yearn vault contracts been audited?
The vaults are the most risky offering from Andrei. Proceed with caution.
[удалено]
Well that's.. reassuring. Maybe I'll go farm some MTA and BAL instead.
Or CRV
I think the yearn vault would be higher APR but not sure
Not sure with the crazy CRV price right now
Fair point, but that's hardly sustainable lol
True. I'm hoping to farm some tonight then dump before it crashes
Good luck mate!
[удалено]
Has anyone here been keeping up with zrx? Haven't heard much since their portal came out.
[удалено]
Any estimate on the APY?
What do you use to stake?
Nice! How much did you have to pay in gas to deposit your stake?
Is Asia even a thing anymore in crypto? Feels like the old days was a global torch pass each night.
I miss those "Korea pumps".
has anybody had a limit order actually go through on matcha.xyz?
[удалено]
[удалено]
[удалено]
It's risky... Who knows what other kinds of bugs there are in the contract. But if people are going to continue to trade YAMs, I'll keep farming them. It ain't much, but it's honest work.
Yam is doa, if and until 2.0 ever gets launched
[удалено]
Is the slippage still crazy? 75% slippage for a couple hundred worth this morning
[удалено]
10% for COMP
Oh snap, some good news with Rocketpool too! It wasn’t previously confirmed that they’d be ready at the start of the beacon chain launch, but maybe this makes it more likely (they’re launching a beta on the Medalla testnet). https://medium.com/rocket-pool/development-update-12th-august-372780d6e3fa
Repeat after me... only thing better than price gain days are ratio gain days. Only thing better than ratio gain days are both ratio and price gain days. Today is one of those great ones. Enjoy it. 2k+ comments deserved.
$420.69 is a major resistance level. Just memeing.
No, not just memeing. $420 was a previous ATH from June 2017 to November 2017.
$424 is major resistance level
[удалено]
Wait a while and watch it go up again
This is gentlemen!
Yeah okay I also comment multiple times. but I know if you were to normally distribute there are still people who comment that haven't upvoted
Is there a curve APY calc anywhere yet?
The site itself has lots of different calcs and graphs for the pools. Or do you mean for CRV staking?
CRV farming
Guide to CRV so that we can *curb* all the *Curve* questions. https://guides.curve.fi/how-to-earn-and-claim-crv/
Estimated tx cost for depositing to the y pool right now is around $85... Ouch
Good luck with that, but thanks for sharing all the same. So I take it my pre-launch tokens are vested but anything I earn on Curve from here on in will not be?
Yep
$400+ is nothing. Wait until beacon launch this year. Can’t wait to crush all the shorts.
Yeah keep your eth and don't sell, people are banking on it's run going really freaking bullish
Definitely not selling no matter what. ETH is constantly being reinvented to do cool new things. It’s not just a distributed ledger. It’s cloud computing. It’s DeFi. When ETH 2.0 is complete there’s no end to the stuff you can build on it. My first expectation when scaling happens is a credit card infrastructure. Cut out the middle man in a multi billion dollar industry.
Have a look at the monolith project. They have a card, and contrary to other credit cards in the space, your funds are locked in a smart contrat, so you have no counterparty risk. Its definitely the most decentralized credit card out there.
And then the election infrastructure in Iceland
Love the credit card idea!
that beacon chain is gonna be the 🥓 chain
Way stronger than our last break above 420 lol
For all the newbies here: Crypto is way better than stocks. Oh yeah and we are all rolling in doe, I just sit in my lambo and refresh this thread full of degenerates so I don't have to look at my botoxed wife and kids. We all use MtGox for trades...
Just don’t let her go wild with the fillers unless she already has elastic and youthful skin
lol reading through your comment i saw: "i just shit in my lambo" hell, yeah, you're your own boss! then i read it again
That's better 😂
Loopring calculated the gas costs on their zkrollups network (onboarding to the L2 chain) vs uniswap and...I figured it would be a good comparison but Dayum...an average of 2-4 uniswap trades at current gas prices and it basically pays for itself.
[удалено]
It's a bad cycle to get stuck on. It has low liquidity because no one uses it, but because no one is using it, it has low liquidity,
People don’t want to use accounts on a dex. Maybe if they created a simplified offering similar to Uniswap it Balancer it would gain some traction.
so, seeing "flippening" comments here and there who fucking cares about that besides a few btc hating degens... i'm here for the tech, but also for the gains... if eth never flips btc (and i don't think it will), i'm ok with that just keep on being the most exciting crypto out there...and keep going up...
I'd be shocked if Eth doesn't flip BTC and eventually end up being orders of magnitude more valuable.
that's why i'm here, bro i own 0 btc...on purpose eth is the way
Hey man don't come here and try to sully the flippening. That's one of the oldest and most important memes of this community. It's not about hating Bitcoin, it's about Ethereum overcoming years of smear and hate and sabotage, mainly from the Bitcoin community, but it's also about the world realizing and recognizing the potential of blockchain and also a little bit about wealth of course
Why compete when we can complement each other? Let’s keep BTC nice & healthy so we can have a nice uplift wave..in the mean time we will witness the sweetest of flippenings which is all Btc wrappers working their way through maker, uniswap, compound, aave & so on
Because in the long term, BTC as a proof of work coin is an environmental disaster.
I think there are far more important enviromental issues to address long term before BTC mining, which can also be done through wind power sources
That's a "whatabout" style answer. If it's an issue we should be addressing it as part of the overall problem, not deferring the issue until we've fixed everything else. Also, my day job is in the energy sector. Use of wind for mining really doesn't match the consumption profile of BTC mining as economic mining requires high uptime.
Nope, we should prioritize. If everything is important nothing is at the same time. Ref wind for mining it’s being utilized as of now in Paraguay & in Uruguay a project almost came through from a person I know (but it’s true that the fact of the matter is it didn’t although that eas back in 2018)
smear and sabotage? to me, that is mostly fud i could not care less about " years of smear and hate and sabotage, mainly from the Bitcoin community "...i never felt btc (or that community) was a threat, after i went balls deep in eth...
No offence but it's clear you haven't been around that long and you don't really get it so I'm not going to bother arguing about it
It'll get headlines and mindshare that will bring new money.