Daily General Discussion - June 17, 2023

refugeddit, 10 months ago

Ethereum

696, 10 months ago

0.065

strawdar, 10 months ago

$1720.93

haddockseyes, 10 months ago

@kbrot can you elaborate a little on the significance of BTC dominance reaching between 50 and 55? It looks like it hit 49.9 just yesterday.

kbrot, 10 months ago

Sure! It's the expected ceiling for BTC dominance in my mind, as dominance naturally increases during a bear. Alts (and in prior cycles, ETH) have outflows to safety in BTC (and now, unlike prior cycles, ETH).

Previously, 50-55% dominance was a large support/ resistance level, so I expect the bear inflows to BTC should top around there. Ben Cowen has a similar outlook, though he anticipates a slight overshoot to 60% is possible. I'll make a quick video tomorrow illustrating these levels better too.

It's important to remember the BTC.D chart is a sloooooow mover. It should take a few more weeks or even moths to hit the top. And the ratio will also likely suffer a bit when that happens, just less than in prior years I imagine. We really haven't retested 0.05 as a base in a long time...

haddockseyes, 10 months ago

Looking forward to the video!

kbrot, 10 months ago

Oh no I've been outed as Guardian tech journalist John Naughton

The absolute bazinga I've been shouting for over a week now!

“The Reddit corpus of data is really valuable,” Huffman told the New York Times. “But we don’t need to give all of that value to some of the largest companies in the world for free.”

Note the sleight of mind here. That “corpus of data” is the content posted by millions of Reddit users over the decades. It is a fascinating and valuable record of what they were thinking and obsessing about. Not the tiniest fraction of it was created by Huffman, his fellow executives or shareholders. It can only be seen as belonging to them because of whatever skewed “consent” agreement its credulous users felt obliged to click on before they could use the service. So it’s a bit rich to hear him complaining about LLMs which were – and are – being trained via the largest and most comprehensive exercise in intellectual piracy in the history of mankind. Or, to coin a phrase, it’s just another case of the kettle calling the slag heap black.

MrVodnik, 10 months ago

The entire quote could be used as "our values" or "motton" for any decentralized competition of Reddit:

“The Reddit corpus of data is really valuable, But we don’t need to give all of that value to some of the largest companies in the world for free.”

It really explains why it is not worth to give it to ANY big company, Reddit included.

kbrot, 10 months ago

Yeah spez acts like they generate, well, anything. reddit is a glorified server farm, an easily accessed infrastructure and storage space. They should be treated as such and paid as such. No issue from me if ads keep up their certainly enormous server load. But to claim user IP is disgusting.

austonst, 10 months ago

My home staking Besu decided to die on me, got its database corrupted, and is now costing me $$$ while it resyncs from scratch. It's almost completely my fault, so I'm not complaining. I probably hadn't so much as SSH'd into the node for 1-2 months, so clients were all out of date. On top of that, my phone started giving me notifications that Besu was having some periodic downtime; I think if I don't restart the node for a long time I get accumulated memory leaks of some sort that start giving Besu OOM errors. And while it does auto-restart, at some point those crashes are going to corrupt my DB. But I took a few days to get around to it, and by then it was too late.

Don't be lazy, maintain your nodes.

MrVodnik, 10 months ago

How often are going to SSH into your machin now?

austonst, 10 months ago

Eh, probably just need to be better about staying on top of client updates. If every time there's a Besu or Lighthouse release, I check in, do a full system update, and restart clients as needed, it'll probably be frequent enough to keep everything running smoothly.

strawdar, 10 months ago

Dumb question, is there a way to get kbin to default to sorting threads by New?

kbrot, 10 months ago

There are some early "enhancement suites" being written up. I'll see if any include this and get back to you.

hanniabu, 10 months ago

Not by default, I'm adding a script to the Ethfinance Buddy extension, should have it published in the next day or so https://github.com/etheralpha/ethfinance-extension

MrVodnik, 10 months ago

I was thinking... could we have a "dApps book club"? It is somewhat boring and hard to dig into many projects by oneself (and extremely easy to miss something). It is also impossible to find independent review in Google/Twitter/Reddit/etc. If we had a small pool of people who knew one another, it could be actually the best possible approach.

I think picking one DeFi project a week or every few days would suffice. Then some people would chip in with all the red flags they've found in whitepaper and their business model, others could investigate sensibility of their tokenomics, their docs and of course, their code.

How could be start such a thing? Is it even possible, or is there to few of us?

newtosh, 10 months ago

It's basically what Logris was posting occasionally, no? Maybe we can motivate him to do more, and prepare / chip in / contribute. I think understanding the tokenomics / key financial concepts is the main problem with much of DeFi.

MrVodnik, 10 months ago

I was aiming more in active participation and loose talk, rather than one person reading and preparing summary based on their own opinion. Pick a project, and make it theme for the other day's talks.

hanniabu, 10 months ago

The hardest part would be finding someone to review the code, but I'd outline the categories like code, ux, tokenomics, risks, etc and then see if anyone is willing to volunteer for those slots

MrVodnik, 10 months ago

I don't think we must build a top notch audit company. Probably most of us use dApps already, and having any "trusted" look at the code is better than none. Also, as much it might be hard to locate a sophisticated back-door by creators, it is relatively easy to spot an upgradebale proxy and multisig owners (which are often ignored by audit companies as this works "as designed"). This, and general overview of the code I can do myself, as I do it anyway for my personal sense of security.