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HOT TOPIC Bitcoin / Cryptocurrency Discussion (And Predictions)

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Fox

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Any thoughts on TRU?


Vitalik proposed to build an EVM Optimistic Rollup scheme based on Truebit

In the Ethereum Research Forum, Vitalik Buterin, the founder of Ethereum, proposed that an Optimistic Rollup of Ethereum two-layer expansion scheme could be built based on TrueBit, an interactive verification protocol, to solve the problem of repeated verification. He also presented the basic scheme.

TrueBit, which enables smart contracts to safely perform complex calculations in a standard programming language and thus reduce gas costs, was launched on the Ethereum mainnet on April 21.
 

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AceVentures

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Any thoughts on TRU?


Vitalik proposed to build an EVM Optimistic Rollup scheme based on Truebit

In the Ethereum Research Forum, Vitalik Buterin, the founder of Ethereum, proposed that an Optimistic Rollup of Ethereum two-layer expansion scheme could be built based on TrueBit, an interactive verification protocol, to solve the problem of repeated verification. He also presented the basic scheme.

TrueBit, which enables smart contracts to safely perform complex calculations in a standard programming language and thus reduce gas costs, was launched on the Ethereum mainnet on April 21.

Yea the bonding curve on it rekt me good last night lmao I lost a good chunk of money playing with that thing.


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The pink wedge is not supported by the mechanism of the token. Hence why the prices are in freefall.

Until demand for it picks up, there are plenty of tokens in circulation right now. When the price gets above 1.26 it'll start minting new tokens driving the price back down. Only demand from the token and ultimately token usage will tighten the supply and drive prices back up.

With the infinite scaling solutions out right now - it's really tough to pick a winner. Not only that, but zkSync is a slightly preferred winner technology that's coming out this summer. It's preferred over Optimism for native ETH. I'd keep an eye out on this thing but don't ape like me. Wait until the engine starts churning transactions.
 

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Yea the bonding curve on it rekt me good last night lmao I lost a good chunk of money playing with that thing.


View attachment 37860
The pink wedge is not supported by the mechanism of the token. Hence why the prices are in freefall.

Until demand for it picks up, there are plenty of tokens in circulation right now. When the price gets above 1.26 it'll start minting new tokens driving the price back down. Only demand from the token and ultimately token usage will tighten the supply and drive prices back up.

With the infinite scaling solutions out right now - it's really tough to pick a winner. Not only that, but zkSync is a slightly preferred winner technology that's coming out this summer. It's preferred over Optimism for native ETH. I'd keep an eye out on this thing but don't ape until the engine starts churning transactions.

Thanks for typing this up - solid insight.
 

AceVentures

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Just gonna leave this here


If anyone's placing a bet on ETH - you might be interested in this ERC20 token from Index Coop - it's a Flexible Leverage Token that gives you a larger exposure and abstracts the collateral into this coin you can hold.

Taking it a little further would be staking ETH-FLI LP to generate yield on top of it.

Just some ideas around how you can play the game.
 

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Yeah I don’t agree. They will preach how volatile the private cryptos are(btc,Eth) to get mass adoption of their bank coins. If they do the same thing as gold they will then try to regulate the purchase of btc to make it hard and buy as much as they can to become majority shareholders. Once again becoming the ones who own all of the real money. If everyone is running around with masks for covid and acting crazy do you think the sheep will buy btc when their government says it is illegal?

They are already starting to discount btc over their bank coins if you start googling articles from them.
A cryptographic dollar is scary as hell. Every transaction you ever make is recorded in a blockchain for review by authorities. Yeah no thanks. Even if you are in the top 1% of most diligent book keeping people out there, this is still scary.

That’s like biblical, cashless society, revelations shit. Mix that with vaccine passports… Even if it isn’t the mark of the beast, it’s certainly a mark of A beast.
 

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Just gonna leave this here


If anyone's placing a bet on ETH - you might be interested in this ERC20 token from Index Coop - it's a Flexible Leverage Token that gives you a larger exposure and abstracts the collateral into this coin you can hold.

Taking it a little further would be staking ETH-FLI LP to generate yield on top of it.

Just some ideas around how you can play the game.
I saw index earlier this morning from another source and was going to look into it when I got home. Glad it got mentioned, I’ll definitely check it out now.
 

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Maybe I missed it, but has anyone here used blockfi to earn some interest?
 

AceVentures

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Maybe I missed it, but has anyone here used blockfi to earn some interest?

Tradfi experience with boomer yields. They take custody and can in theory get far better yields on your collateral than they actually net you.

Getting ghosted over the weekend when you wanted to get a loan last minute on Friday - these traditional ways of doing business have already been replaced by smart-contracts so I don't even bother.
 

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Maybe I missed it, but has anyone here used blockfi to earn some interest?
Tradfi experience with boomer yields. They take custody and can in theory get far better yields on your collateral than they actually net you.

Getting ghosted over the weekend when you wanted to get a loan last minute on Friday - these traditional ways of doing business have already been replaced by smart-contracts so I don't even bother.
Hey I've joined these forum two month ago after reading fastlane and unscripted I decided to take action to join these forum I started following these thread so far I am enjoying your insight ride one Fellow unscripted Knight
Beside any tip on which coin to put my money on
 

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Timmy C

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A cryptographic dollar is scary as hell. Every transaction you ever make is recorded in a blockchain for review by authorities. Yeah no thanks. Even if you are in the top 1% of most diligent book keeping people out there, this is still scary.

That’s like biblical, cashless society, revelations shit. Mix that with vaccine passports… Even if it isn’t the mark of the beast, it’s certainly a mark of A beast.

It's so messed up isn't it.
China is leading the way I believe. The FED is working on one I believe.

The Australian Reserve Bank is also.

Gotta protect their territory!
 

Timmy C

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Hey I've joined these forum two month ago after reading fastlane and unscripted I decided to take action to join these forum I started following these thread so far I am enjoying your insight ride one Fellow unscripted Knight
Beside any tip on which coin to put my money on

Do you want him to tell you when to sell as well?
 

Kak

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It's so messed up isn't it.
China is leading the way I believe. The FED is working on one I believe.

The Australian Reserve Bank is also.

Gotta protect their territory!
Only people that don’t understand the true reason for crypto are going to get behind this government joke.

That understanding is that you don’t need a mafia, in order to have a means of exchange.
 
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Timmy C

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Blockchain tech has 3 things to tackle:

Decentralization
Speed
Security.

If Ethereum can achieve all of these things within the next few years, the total adressable market is enormous compared to what BTC can take away.

I'm very bullish Ethereum, but btc is still my biggest holding.
 

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I don’t know how to read charts but the volume on doge has to be some kind of indicator
 

Timmy C

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Do you guys think ETH is going to hit 5k this week?

ANd what's everybody's feeling about Litecoin?

Listen mate, no one knows what happens.

Why are you so concerned with what happens a week from now?
 

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AceVentures

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ETH is an absolute monster. What the hell is going on.

On another note, wanted to talk about what blackswan events could do to the market. Part of me envisions LPs draining all the ETH from the increasing number of shitcoin pools out there.

People are constantly trading against a curve, held by often much smaller LP collateral than daily/weekly volumes. In a panic, if the LP gets drained, a lot of people can get left holding billions worth of shitcoins they can no longer liquidate.

If you're playing around - try to remember the end game and don't miss the forest for the trees. As a settlement layer for all things crypto - a backbone for infrastructure, something like ETH offers infinitely more than most of the tokens out there. What happens when the LPs learn their ETH counterpart to their shitcoin pair is worth infinitely more - and so they take their ETH from the pools. With all the DEXs around - so much liquidity gets trapped into these tokens while people farm shitcoin yields.

Not saying something like this is going to happen - but let's try to consider how arbitrage of the mechanisms could affect the flow of money. Would certainly be a nightmare scenario for anyone - especially if you're on some L2. There's always the fear you could get rugged at any moment.
 

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Do you guys think ETH is going to hit 5k this week?

ANd what's everybody's feeling about Litecoin?
Eth is going to hit $5016.75 EXACTLY this week. In fact, it will happen on May 8 @ 19:37:16 MT.

I have consulted the crystals and they do not lie
 

OverByte

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A cryptographic dollar is scary as hell. Every transaction you ever make is recorded in a blockchain for review by authorities. Yeah no thanks. Even if you are in the top 1% of most diligent book keeping people out there, this is still scary.

That’s like biblical, cashless society, revelations shit. Mix that with vaccine passports… Even if it isn’t the mark of the beast, it’s certainly a mark of A beast.

It's so messed up isn't it.
China is leading the way I believe. The FED is working on one I believe.

The Australian Reserve Bank is also.

Gotta protect their territory!

Forgive me if I'm wrong (since this thread is massive and I only check in occasionally) but based on the context I *think* you are both referring to the talk of gov issued "cryptodollars"? If so, I just want to point out that bitcoin is completely recorded, by no means anonymous and definitely more trackable than cash. There is a really interesting case about how gov prosecutors found two *federal* employees who were first investigating and then later came to be agents of extortion during the silk road investigation. The federal prosecutor indicated that had they not used bitcoin for all payments they would have never been found. So completely the opposite of the narrative that bitcoin is good for illegal activity but that's a bit of a tangent.
 

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Alright, so if i understand this well, DeFi gives me the chance to buy a coin which is currently undervalued, stake it, earns returns because i am staking it, all of this while the value of the coin is increasing in value because I bought it undervalued?

Edit: anyone is using harvest.finance?
 

Sethamus

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Forgive me if I'm wrong (since this thread is massive and I only check in occasionally) but based on the context I *think* you are both referring to the talk of gov issued "cryptodollars"? If so, I just want to point out that bitcoin is completely recorded, by no means anonymous and definitely more trackable than cash. There is a really interesting case about how gov prosecutors found two *federal* employees who were first investigating and then later came to be agents of extortion during the silk road investigation. The federal prosecutor indicated that had they not used bitcoin for all payments they would have never been found. So completely the opposite of the narrative that bitcoin is good for illegal activity but that's a bit of a tangent.
Essentially, the only difference I see is decentralized vs centralized. I’m not worried about trying to avoid taxes or hide my transactions as I never use cash anyways.
The government issued dollars are backed by a country that can essentially create as many dollars as before. Advancement will come from a digital currency no matter if it is fed backed or private, however btc was created to take control back from the world banks (private and in no way actually government banks).

Bitcoin however will let you cross borders with purchasing power like gold, silver, jewels, etc but with greater ease. You will be able to buy btc, but cannot create more after a certain if the code is solid. Giving it power that the feds and private banks will want. Which was my spiel about the federal reserve (for US) denouncing it in the future for their coins where they will happily trade the volatile coin for their stable coin.
 

AceVentures

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You can address privacy via key management. This is akin to identity management at the same time as asset management.

Pseudonymous > Anonymous. With tokenized credibility you can afford to only reveal parts of your identity without ever giving yourself up. For example, web3 and blockchain could grant me immediate access to certain privileges and access based on my tokenized relationships.

Maybe Elon Musk follows me. Maybe It is known that there are over 5M people that follow me. Maybe it is known that I have a net worth exceeding a certain amount. Maybe it's recorded that I'm the founder of 5 startups that are doing X/year in revenue. Smart-contracts for identity management are coming and some solutions are already out.

Essentially you can tokenize aspects of who you are so you can truthfully attest to certain standards and still maintain other aspects of your privacy. "Speedway Pass" "Summit Attendee" "Fastlane Insider" These badges reveal something about me but don't have to spell out who I am other than what I choose to reveal. This should be the norm and is abhorrent that the current tech business models rely so invasively over our privacy that we just sheepishly accept all cookies and app contracts - granting away who we are to a database that some people have direct access to.

Also of importance - not everything goes on the blockchain. Especially once you get further into Layer 2 and rollups - you could via zero-knowledge for example perform a multitude of complex transactions off-chain, maybe on a secure node, and roll up the end-sum of all these transactions as one entry back into the L1 ledger. This further abstracts a lot of what actually happens at lower levels, so there's less work demanded from the blockchain.

Think about it this way - not every computation needs to be recorded on the ETH blockchain. Block space is valuable and expensive. So you can perform computation on other nodes, and crytographically promise transaction authenticity within the rollup - so now after say 1,000,000 transactions in the rollup, we update the ledger in only 1 block on ETH.

This sort of makes sense - compare for example when you use your VISA card, you're not finalizing payments. You're just creating a record of what you've done, and where those credits needs to go. When you swipe VISA at Starbucks the money doesn't hit the merchants bank account instantaneously.
 
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Ing

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Eth is going to hit $5016.75 EXACTLY this week. In fact, it will happen on May 8 @ 19:37:16 MT.

I have consulted the crystals and they do not lie
Thanks!
At least a fix point to believe on!
 

volodya

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Eth is going to hit $5016.75 EXACTLY this week. In fact, it will happen on May 8 @ 19:37:16 MT.

I have consulted the crystals and they do not lie
Are you ever going to be famous when you are proven right on May 8th!!!
 

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