Illegal Ethereum mining farm at Italian airport busted by ...
A Guide to Yield Farming on Ethereum – ethereumprice
New Ethereum yield farm backed by Binance, top crypto VCs ...
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
Excited to share that we just got listed on StateOfTheDapps! (xpost /r/flowerpatch) If any of y'all are interested in supporting out indie mmorpg farming game, built from scratch on Ethereum, give us some love in the reviews! <3 (link to game in the comments)
All the hype, but no liquidity? Why there is so much hype surrounding Honeyswap despite many trading pairs still lacking liquidity.
Hello everyone. This question was asked in another subreddit so I figured I'd copy/paste my response in the official Honey subreddit for all newcomers to read. Honeyswap has only been in existence since early September. There has never been any marketing and according to the early developers and community, people stumbled upon Honeyswap organically and flooded the Discord within a few weeks of launching. What really happened is that Reddit began a competition called the Reddit Bake-Off, which was a contest to see which blockchain-based team/project could develop a temporizing scaling solution for the current version of Ethereum. The ultimate goal of the Bake-Off was to enable Reddit to launch Reddit-wide tokenization, with specific ERC-20 tokens for each subreddit. As the Bake-Off ensued, two tokens were minted on the Rinkeby Ethereum Testnet in order to experiment with Reddit-based tokenization on two subreddits: Moons were created for CryptoCurrency and Bricks were created for FortNiteBR. These "tokens" were distributed by the subreddit mods and deposited into users' Reddit Vault (a new feature you can see on your phone Reddit app). Shortly after beginning the experiment with CryptoCurrency and FortNiteBR, in which people began receiving Moons and Bricks for their upvotes, a community member created two coins on the xDai network, called xMOON and xBRICK, and subsequently developed a bridge that enabled transfer of tokens from the Rinkeby Ethereum Testnet to the xDai network. In essence, users were now able to transfer their Moons and Bricks to the xDai network and convert them into xMOON and xBRICK, respectively. The kicker? These xDai assets were tradable on Honeyswap. What happened next will be remembered as a special moment in both 1Hive/Honeyswap's history and also in the history of cryptocurrency at large: Users on Reddit realized that the thousands of tokens they had received now had value. Tons of money poured into Honeyswap in a short period of time, and Moons were trading for roughly $0.20 cents at their all-time high. The FortNiteBR sub hasn't even fully embraced this yet. But they will. Anyway, couple of weeks later the Honeycomb launched, which is a farming initiative that incentivized liquidity providers to keep their funds staked in Honeyswap liquidity pools. This brought even more people to Honeyswap. With the Bitcoin/main market bull run just beginning, there are a few key things to take note of that should make you very excited about the future of Honeyswap:
Honeyswap and HNY have not lost any value or liquidity despite the fact that the entire cryptocurrency space has their eyes on the main Bitcoin/Ethereum markets. This is far and away the biggest indicator of future success, because if Honeyswap did not have a future, the PayPal/IMF Ethereum/Bitcoin hype would have taken a huge chunk of value out of the exchange and with it, from HNY token. Honeyswap and HNY are holding stable in liquidity and value, respectively, and now I am more confident in Honeyswap/HNY than ever.
Uniswap fees reached roughly $12 per transaction at the peak of the market mania earlier this week. I have spent over 1.5 ETH on transaction fees on Uniswap. I am sick of the fees and I am sick of failed/bulky/slow transactions and as the Ethereum network becomes even more congested, other people will share this sentiment and migrate to Honeyswap.
Despite being a new exchange running on a relatively untested (by the public) blockchain network, Honeyswap successfully settles tens of thousands of transactions and millions of dollars in volume per day without bugs/glitches and while still maintaining 3-5 second transaction speeds and <$0.00001 transaction fees.
The best place to swap & farm DeFi coins, offering Triple Yield for Liquidity Providers - powered by CRO https://i.redd.it/40scld56chm51.gif DeFi Swap went live on the Ethereum Mainnet today. DeFi Swap is the best place to swap & farm DeFi coins, powered by CRO. With DeFi Swap, Liquidity Providers (LP’s) are generously incentivized for contributing to liquidity pools with Triple Yield: Swap Fee Sharing: LP’s will be rewarded by sharing 0.3% of the trading volume of respective liquidity pools. CRO DeFi Yield: for LP’s who also stake CRO: LP’s can stake CRO to boost their yield by up to 20x and harvest the daily yield in as little as 30 days. Bonus LP Yield: for LP’s of selected pools: LPs will receive tokens redeemable for additional coins of participating DeFi projects How can I start farming? Start farming now at https://crypto.com/defi/swap and become a Liquidity Provider by using any WalletConnect-enabled mobile wallet (coming soon on Crypto.com DeFi Wallet) What are the launch incentives? Crypto.com will guarantee a minimum reward pool of 14,000,000 CRO for the first 14 days (1,000,000 CRO per day). What coins are supported?At launch, users can swap between any two supported tokens including some of the most popular Cefi and Defi tokens:
(Wrapped) Ether (WETH)*;
USD Coin (USDC);
Crypto.com Coin (CRO).
We will introduce more tokens in the future and welcome suggestions from the community via our web app & social media channels. What projects are supporting Bonus LP Yield? We will announce new partnerships in the coming weeks. Where can I check the yield levels? Please visit Crypto.com/defi/swap Useful Links:
An “index fund” of every altcoin – literally, all of them
A token that rewards usage and community
An effective trading pair and exchange of value
xBTC gives users one token access to every single digital asset on earth, pegged against Bitcoin dominance. We call this a “Dominance Hedge.” As the inferior and sluggish Bitcoin loses its dominance, xBTC holders will benefit. DeFi, Social Networks, Gaming, Smart Contracts – all blockchains are all represented by xBTC. With a few clicks of the mouse, users benefit from access to hundreds of digital assets. This is: diversification, better returns, and innovation - this is xBTC. 🔴What is xBTC MINT Protocol xBTC mint protocol incentivizes liquidity providers who stake their liquidity pool tokens in the Mint by providing them with xBTC tokens to compensate for the impermanent loss. It is similar to AMPL's Geyser. 🔴 Liquidity Incentives Explained Users can only deposit xBTC/ETH Liquidity pool tokens into the Mint Version 1. Our timeline for this changing (i.e. adding more pools) will be reactive to the market but we will reassess in 3 months at the latest, however the xBTC/ETH incentives will run for 7 months regardless of other pools opening. 🔴 What can I deposit? xBTC/ETH Uniswap V2 Liquidity Tokens 🔴How are rewards calculated? This is highly variable, you will receive rewards based on two factors:
How much liquidity you add, the more you add the higher your rewards
How long you stake your liquidity tokens, the longer you stake the higher your rewards
a. The amount of rewards increases linearly from day one, on day one you get 1x rewards, on day 180 you get 3x rewards, pulling out before 180 days would net you somewhere between 1x-3x rewards. After day 180 you continue earning 3x rewards everyday until you unstake. 🔴How many rewards can I earn? We will aim for a competitive APY based solely on the xBTC rewards, however the results could easily be much higher than the competition depending on how many people stake. On top of this you will be earning fees from the liquidity pool tokens, also any market cap appreciation of Ethereum or xBTC will be realized on your LP tokens (minus impermanent loss). Lastly we will have a 6 month bonus. Our reward structure will look approximately like this: miro.medium.com/max/576/1*Dl8trOggg3k07T5_hxJ90g.jpeg 🔴What is the 6 month bonus? There will be a separate reward pool for those who support xBTC long term, anyone who keeps their tokens staked for 6+ months (through the end of Mint Version 1) will share the 40,000 xBTC pool. We see this being only a select few who truly share the long term vision of xBTC and we see it being highly rewarding, however that completely depends on how many people stake for a full 6 months. This also means you must stake in the first 4 weeks to be eligible for the 6 month bonus. 🔴Why is the pot split 4 months and 3 months? We have done this to be responsive to the market. Uniswap V3 may come sooner than later, if this happens we will likely have to reassess and adjust the Mint. We don’t want our users to be stuck providing liquidity on Uniswap V2 if it would be advantageous to switch to V3. With this unknown we wanted to split the terms up, however you don’t have to do anything at 4 months, your tokens will automatically start farming the next 3 month reward pool and you will maintain your bonus (1x-3x depending on how long you have staked). 🔴xBTC and the Mint The Mint is meant to align our community’s incentives with the project’s incentives. It is also meant to reward our users for supporting our ecosystem. This is a huge step forward for xBTC and acts as an essential part of our long term growth and sustainability. We look forward to continuing to evolve and improve the Mint the build out our ecosystem more broadly and effectively. Thank you to all of our early supports and believers, we are just getting started, onwards and upwards. Uniswap: https://app.uniswap.org/#/swap?inputCurrency=0xecbf566944250dde88322581024e611419715f7a Website: xbtc.fi Telegram: xBTC_Official Twitter: twitter.com/XBTC_Official Mint Protocol Launch Countdown: https://www.timeanddate.com/countdown/launch?iso=20201013T1730&p0=256&msg=Get+Ready+To+Mint+In
Things I have learned along the way in Cryptocurrency spaces - My Guide to help others succeed
I thought I would write this up to help any newcomers or anyone interested in learning some new perspectives and ethics that keep me grounded and excited in this revolutionary era of crypto and decentralized currency we are currently living in. I am not by any means an expert but I do have my own code I stick by within this space. Hopefully this is enlightening for some, although some may think these points are common sense. Really this is my foundation that makes me feel comfortable and confident in my judgement when investing into great cryptocurrency projects...
Do your best to suppress the FOMO urges and mindsets and also try not to DOMO (dwell on missing out) these feelings are negative, self defeating and will just cause anyone a lot of irrational unnecessary stress. Who cares if Joe Blow dumped 300 hundred dollars into some random new "shit coin" and made millions! Good for him, it was a one off and this isnt about his future its about yours. Chanting "Coulda woulda shouldas" is not the disposition to have when wanting to invest in cryptocurrency.
Anytime is a usually a good time to start investing in cryptocurrency. Pick a good reputable exchange to start with and test it out.
Find projects you like. Look for the positive ethics and innovation behind the project and also who the creators and custodians of the projects are. Some of them are really interesting people who follow a code of their own ethics.
DD or Due Diligence applies to crypto/defi projects similar as it does to investing in the stock market. Investigate. Gather as much information on a specific project you are interested in is probably the biggest attribute to having success and watching your finances grow.
Is the crypto technology improving or innovating something that benefits people or the space?
Does the project promote positive community values and growth opportunity?
Are the management teams behind the projects talented and of good character?
Does the crypto have a good foundation to thrive off of as it grows?
These are the main things I look for when doing my DD on any crypto.
When you research your chosen projects dig deep and be cautious of crazy hype promotions or biased articles on "These next 3 big cryptos and defi will moon in 2021!!!!1" Trust your research and sound judgement based on the facts not on knee jerk emotions ****this is actually really hard for me sometimes because I get really emotional when it comes to things I am passionate about but having a logical mindset will reward you and then you can be emotional and cheer about it later when you see your gains.
Have a solid financial foundation when you decide to invest in multiple crypto. I tend to keep the majority of my capital in Ethereum as it is a proven product with a great track record that many other cryptos rely on...it isn't going anywhere. Stability is a helpful tool. That said, it is good to diversify and try fledgling projects for great opportunities and it doesn't matter how little you invest - testing the waters is a great way to get an idea of how the project will start to perform.
We hear this one a lot: "JUST HODL!" while holding is great so is variety and trading at certain times. Be on the lookout for indicators relating to the crypto market fluctuations such as a passing vote, public announcements from the managing teams and exchanges, new tech or software upgrades, even world events that could effect the value of the crypto you want to buy hold or sell. These are indicators or catalysts to always be looking for and will help you make better buying selling and trading choices with crypto.
"dont spend what you cant afford to lose" we see this a lot as well and while it is a good rule to follow, sometimes by taking risks we are greatly rewarded. So I say to this, yes follow that rule but also expand and evolve as crypto holder. This will mean taking some risks and then following the previous mentioned principles to mitigate that risk further.
Cutting losses. This is a tough one. Everyone has their own stop loss ideology or limit to which they feel they can tolerate. I would say if you were going to cut your losses do it for a reason that makes sense. A coin drops %30 percent today...that isnt a good reason. The reason is why did it fall that 30%, is it the market? Some sort of halving event, just the market is constantly ebbing and flowing. The point I am getting to is try to avoid rash decisions simply based on a percentage loss. Find the truth behind it and then act accordingly based on the facts. I have held through countless drops in the last several months and usually it just takes a bit of time to wait out the market re-calibrations and corrections as most of the time these bounce back and even better than before.
I think the most important rule of all is again, remember to have fun. Even when I see I am down for the week it just gets me excited for the next or even a potential buy opportunity on the dip. It is a chaotic up and down game. But if you can find some comfort and reason within that, then it can be really exciting and rewarding. Have fun and be passionate in the projects you believe will succeed, knowledge share and teach others things you have discovered. Passing on valid information can help others be successful and that is often a key component of a project becoming reliable and strong. Great crypto communities backing a good crypto project go hand in hand. support each other and drive for success this can and will most certainly create some MOONS in the process.
Good hunting to everyone and I wish you all great wealth in your endeavors! EDIT: just some food for thought regarding the crypto and defi markets today: It seems the defi and crypto markets are in the shit right now. I think there are several catalysts as to why FLM has dropped almost 50%, the problems with NEO/FLM and the postponed yield farming... plus there has likely been big sell offs of the "Free" FLM tokens and other holders followed suit, panic selling. This may lead to lowered volumes and less buying. There is also a connection to the drop in the rest of DEFI tokens (UNI especially) etc because of the KuCoin hack and a combination of lower yields on other DEFI apparently have people a bit bearish. (did some research on what was going on with the market taking a nosedive - if anything now is a good time to be buying in my opinion.) Things will look up though, I am pretty sure as it always does, its like riding the wave. I plan to hold my crypto regardless.
This Project is about to be huge. One of the only fair distributions I've seen. The Team communicates extremely well. The tokenomics make this thing have a bunch of potential. Yield Farming comes out tomorrow. Most Yield Farming dilutes holders, but this doesn't. There's so many reasons i'm excited about this thing but I'll share some of the resources below and you guys can DYOR. Y-Men ! We have great news for you. The official farming begins at block 10849177. This corresponds to around 9:30 pm CEST tomorrow give or take depending on the average block time of the Ethereum chain. The official name of the farming coin is MUTANT. Here are the pools available initially:
Below are some of the strategies I use to generate passive crypto.
Moons obviously, but I’m not expecting to make much and it’s quite time consuming, so I’ll just hold on to them and hope the price moons.
Used to trust third parties like Celsius, Binance etc with my coins, but after I missed the UNI airdrop, I discovered a way to own my keys as well as make a return on my crypto. So I started providing liquidity on 2 different protocols (16% and 60% APY). As we wait for scaling solutions, Ethereum side chains such as xDai look promising.
Crypto.com: Don’t like the company anymore for many reasons which I might expose in a post someday, but a few months ago I did stake to get the red card (2% cashback). Definitely worth it: got the 50$ referral bonus + 2% deposit bonus + around 90$ in cashback so far, so the card essentially paid for itself within 2 months.
Coinbase Earn: made around 90$ by answering easy quizzes
HNY faucet: 2$/48hrs but still worth it, who knows where HNY price will go.
Binance liquid swap: 10% APY on small amounts of stablecoins that would not be profitable in yield farming because of high gas fees and that you plan to use to buy the next dip.
Brave rewards: 2-3$/month. Check out the other post I made to increase earnings and to withdraw BAT from Uphold almost without fees.
CMC Earn: quite disappointing, 0,6$ of BAND, no KAVA and 1$ LUNA so far.
Be careful out there tho, lots of airdrops are just time consuming scams. Feel free to ask questions or share other strategies! Hope this helped someone :) Keep stacking and buckle up because this is going to be an exciting ride !
Paid revenant protection clans promote more Rule-breaking than commission staking & they use anti-competitive tactics to protect their regime.
** Note that this isn't a thread focused on occupying revenant worlds with a clan, rather about those who offer paid protection services. Tl;DR (all sections elaborated on, surf through bolded/underlined headers): -Paid protection promotes anti-competitive tactics to protect these worlds, focused on "boring" pkers on these worlds into leaving, or by making them less profitable to raid. -Paid protection leaders often RWT with proceeds, whilst running a service that generates high amounts of GP (in the form of alchables) into the RWT market -Paid protection allows for low barrier entry of gold farming (don't have to deal with pkers, don't have to learn vorkath, zulrah etc) -Paid protection breaks the pker>resource collector>resource collector hierarchy by discouraging pking on these worlds on multiple levels -Paid protection can be considered against the spirit of the game for ironmen, a common user of these services -Paid protection is encouraging a creep towards maximizing gp generated into the game by rapidly replacing the skulled crossbow worlds where people protect each other, into craws protection protected by dedicated raggers/pkers for a group of worlds. Most drops are convertible directly or indirectly to cash, inflating the economy at rates comparable to pre-eoc EP% system & dupes (math elaborated on towards the end of the post). Anti-competitive things protection clan chats do to discourage pking activity on worlds they're protecting 1)What they call 'Nsing', short for non-stopping. This essentially means gearing up in toxic staff of the dead black d'hide ice barrage with gloves making their risk under 100k, causing them difficult to deal with whilst risking much less than pkers visiting these worlds. The idea is that they're being paid by their cc to frustrate & bore you into leaving worlds they protect. Roundup on why this tactic is difficult to deal with & discourages encounters with worlds they protect: a)They protect range to discourage ranging. b)They pre staff of the dead spec at home fill their special bar with pool & then staff of the dead spec a minute later to discourage meleeing for their tenure at the battlefield c)They reduce accuracy of magic attacks with wielding dragonhides whilst casting, though the main reason is that it provides very cheap protection whilst still being able to hit ice barrage or blood barrage on other peoples' d'hide (try it, you'll be surprised how often it hits on a clump of people). The only times you'll see NSers in robes is when they're using moonclan because they don't want to risk black dragonhide either. d)Pkers are being venomed & frozen the entire time, making people attack these worlds dependent on anti-venoms+ & often making it difficult to get close to them and melee them, though they're staff of the dead speced anyways. e)Pkers are not at all being rewarded fighting these people, they risk very little and take a very long time to kill due to the above. f)NSer’s Phoenix necklaces are reliably broken because melee/range damage is being heavily reduced, while mage is more inaccurate vs dhide, making it possible to offensively tank (no tick delay on attacks when a phoenix necklace is broken). Side tangent: SOTD should be rebalanced such that melee can still be useful in team fights because as it stands P2P clan fighting at mid & top levels has been reduced to barraging eachother with toxic staff of the dead whilst wearing dragonhide until one side gets bored and leaves. High-level fights are often completely void of robes unless it's a planned fight with rules against it, or one side is dominating to the point where they're facing little threat whilst wielding robes. Magic accuracy should also be rebalanced such that casting in low mage bonus vs high mage def is much less accurate, and perhaps compensate with making higher magic bonus more accurate on higher mage def. But that's a story for a different thread. 2)Fining the people who pay for their service when they lose too much on death. This limits incentive of pkers coming to these worlds to kill these pvmers, and is often predatory towards pvmers. As a side-note it also acts as an additional source of money as fines are often invoked due to lack of PvP skill of the people paying for these services. Weapons intended to be protected on death are lost due to being smited, or ancient maced by teams. This leads into the next point. If these fines aren't paid, the purchaser of the service is disallowed to complete the rev cave time they purchased. In the case of less courteous clan chats, they wait until the purchaser buys more time and scam the next buy-in because they didn't comply with the rules. 3)As customers of these clan chats increasingly lean towards being gold farmers, overall PvP skill tends to drop. This has led some of these clan chats to disallow pvming with skulled rev weapons entirely, only allowing you to skull if your protected item is a salve amulet(ei) (a protected item that if pkers smite or mace, gives the pkers killing them receive negligible gold). This is to limit the incentive of pkers coming to these worlds to kill these pvmers. 4) It’s becoming more commonplace for streamer pkers to be hunted, ragged and threatened IRL if they attack these ‘protected worlds’. Dino_xx, a revenant pking streamer was recently sent in-real-life threats after repeatedly attacking some of these worlds. Sparc_mac was also recently targeted by a coalition of protection clans, whilst telling him to “off total worlds”. Essentially when he streams, these total world protection clans all get into the same cc to have massive numbers and go after Sparc Mac, and other groups attacking their worlds. Streamers and entry-level clans are most preyed on because it is fairly easy to acquire their locations and worlds. This not only discourages the streamers and people looking to pk with the streamer, but also hinders entry-level clanning if that clan decides to attack pvmers on these protected worlds. They get targeted and ragged until they agree to stop pking on the total worlds and some of the non-total world protection clans. Leaders & customers often RWT the proceeds To understand why it’s so lucrative for citizens of some countries to gold farm on Runescape, you’ll have to understand how much playing runescape earns compared to a regular minimum wage job in their country. In january of 2020, the minimum MONTHLY wage for Venezuelans was increased by 67% to…. the equivalent of $3.61 USD. Gold farming on Runescape can earn you that in just 2-3hours of protected revenant cave pvming. This is a vastly superior method of working a traditional job in some settings, increasing the incentive of learning to gold farm revs and other npcs. There are 2 hubs of RWT in these clan chats. 1) The most obvious scheme of how these clans are involved in RWT is the pvmers being mostly venezuelans paying their buy-in, generating the cash, and selling the gold. 2) The less obvious avenue of RWT is that the ranks of the clan often convert their share of the buy-ins (often called the ‘pot’) into real life cash so that the time investment of protecting pvmers on Runescape can rival working a traditional job. A portion of pvmer buy-ins are being RWTed by ranks, the proceeds of the pvmers killing revs mostly gets RWTed. The entirety of these paid protection clans have gold farming for real life cash at the centre and purpose of their operation. Paid Revenant Protection clans allow for low barrier of entry of gold farming. People looking to make a living pvming on Runescape have to consider mastering mechanics of the NPC they’re looking to farm. Vorkath and Zulrah are methods that can be out of reach for some players looking to make a living playing runescape due to inexperience at Runescape or inexperience at playing games at all. With the current state of revenants, you can be very nooby and just click on the revs without having to think about taking damage or preparing for any sort of complex mechanics that bosses traditionally have. This massively reduces the barrier of entry to gold farm on Runescape, and contributes to people teaching others who’ve never even played games how to get involved. The lack of pkers attacking these worlds because of the anti-competitive methods mentioned above also contributes to reducing dangers involved in being in the wilderness making high end gp/hr. Paid Revenant protection breaks the wilderness “food chain” The traditional hierarchy of activity in the wilderness usually manifests itself as pkers>resource collector>resource. In the case of revenant protection clans, this gets fundamentally broken by the fact that pkers are protecting the resource collectors, and other pkers are increasingly discouraged to kill these resource collectors (related to the anti-competitive section). Ironmen are using protection services despite being an interaction restricted mode A large portion of the remaining non-gold farming service purchasers are ironmen looking to get relatively easy resources, cash and revenant weapons. This can aid in bypassing cash grinds (battlestaves,dragon/rune pieces etc), resource grinds(planks, bars for darts, manta ray, super restores, bolt tips, magic seeds) and facilitate late-game pet hunting with the farmed revenant weapons. It’s so lucrative that it’s an excellent alternative for ironmen to level up construction, crafting and smithing from the drops whilst obtaining other important resources, weapons and cash. Ironmen tend to condense towards higher skill total protection and are commonly price gouged because there are no other viable alternatives for solo players in the current state of revenant caves. Ironmen & even normal accounts not purchasing the services have also been crowded out of revenant caves. Almost all of the worlds, including the new ones added during the corona pandemic are occupied by protection clans, leaving little space for a solo player to farm revs. For ironman specifically, there is no longer a viable way to “earn” the rev weapons without purchasing protection or having a group of people dedicated to protecting you, both of which some consider against the spirit of the game-mode. Revenant protection clans increase the efficiency at which gold is generated Revenants have always been a massive contributor to Runescape gp inflation. Let’s take a look at the item drops. I’m going to classify the drops into different categories: Uniques, Direct GP, Indirect GP, No GP. Uniques Amulet of Avarice, Craw’s bow, Viggora’s Chainmace, Thammaron’s Sceptre These don’t currently contribute much to GP inflation, but there is a scenario where they can be a significant contributor - the Thammaron’s Sceptre is an example of this. The Thammaron’s Sceptre is a fairly unorthodox weapon compared to other staves people use to PK with. However, recently it was changed so that it could be dismantled for 7.5K ether. This leads to a scenario where ether could drop, causing less people to dismantle ethereum bracelets and alch them instead, injecting more gold into the game rather than the ether alternative. I don’t think this scenario is that impactful given the rarity of rev weapons, but at a certain price point these rev weapons become Indirect GP. The amulet of avarice is also approaching alchable price (45k), due to having little popularity in its use of skulling, and the lack of skulling on protected worlds in general. If that happened, it would be a slight addition to the direct gp category. Direct GP(including alchables) All ancient items that are tradeable for gold (this is the bulk of the value of expected drops from revs) Rune armour, ethereum bracelets, rune warhammer, dragon weapons, dragon armor. Indirect GP Coal, runite ores, adamant/runite bars, yew/magic logs, black dragonhides, onyx bolt tips are all typically made into an alchable item as the final product. The exception to this is adamant and runite darts. No GP Mahogany planks don’t inject gp into the game, but they deny gp from exiting the game via replacing plank making (logs+gp). Uncut dragonstones are No GP, but a 2-3k price drop will make glory amulets alchable. Blood, law, death runes are No GP but deny money from exiting the game via shops. This leaves manta rays, magic seeds, super restores (4), dragonstone bolt tips, revenant cave teleport as the only rev drops that don’t, or won’t contribute to rapid gp inflation. After the initial rev release, most worlds had a few people pvming on them, often solo or in groups of other skulled crossbow pvmers that would protect each other. Protection clans started popping up and holding worlds to sell protection on, killing/ragging pkers that went to their worlds and making sure people who weren’t paying couldn’t pvm on that world. In the past 6 months, almost every single world has been taken by a type of revenant killing cc. These typically come in 2 flavours: 1) self-protection - a group of people pvming skulled with crossbows who hit people not in their cc, but are generally ineffective against experienced pkers. 2) paid protection - the type we’ve focused on until now, the ones that protect craws bows/viggora’s maces while they pvm. Not only has almost every single world been saturated with tenants who claim to own those worlds, but they are rapidly converting from self-protection to paid-protection, maximizing the amount of gold that can be generated per world. The gp/hour of skulled rune crossbow(self protection) ranges from 500k-2M/hr (rough estimate), depending on range level and saturation of the world. The gp/hour of unskulled craws bow(paid protection) increases to a staggering 3-3.5M/hour. As these self protections worlds continue to convert to paid protection worlds, the amount of gp/world being pumped in, continues to increase. A saturated paid world typically shelters about 8-12 pvmers, we’ll call it 10 to make the math easier to follow, and use the 3m/hour figure to see how much each of these worlds are pumping out. There are currently 150 P2P servers. These servers are about 35-50% paid protection, with the vast majority, or all of the rest being self protected worlds. We’re going to use a conservative estimate of 35% paid protection, 50% self protected, 15% unoccupied to calculate how much is currently being generated per day. A single world, if saturated 24hours would generate 3m(gp/h) * 24(hours in a day) * 10(amount of pvmers) = 720M GP Estimating a current 52 worlds being paid protection (35%, rounded down) that’s 37.4B per DAY being generated into the game from just paid worlds, the majority of it being cash convertible. If 75 of the servers are self protected, using a very conservative 1m/hr & 10 pvmer saturation, that brings in an additional 75 * 1m * 24 * 10= 18B per DAY For the sake of simple math, we’re just going to assume that the rest of the worlds are completely vacant 24/7, obviously not being the case. A very conservative estimated of 55B (likely, most rwted) is being injected into the game from revs per day, and that number is going to continue to increase as paid protection worlds continue to take over self-protected worlds. If every P2P world were paid-protection, there would be more than 100B being injected into the game per day from only rev caves *note that this does not include skulled craws pvming that some paid services offer, which is 4.5-5.5m/hour. Every day that the current state of revenant caves is allowed to continue, our relative gp buying power is diluted as more and more gp enters the game. Proposed Solutions Here are some potential solutions that could minimize the mounting adverse effects of revenant cave pvming, without doing too much harm to team/clan activity. Remove Skill total worlds from being pvmable in the revenant portion of revenant caves, perhaps in the same manner as done on w45 deadman (only ether and ethereum bracelet drops), or they could be made untargetable/just not be there at all. These worlds currently make up almost half of paid pvm worlds and are the main setting for toxic staff rag mage vs any pkers who try pking the pvmers. They provide the biggest imbalance of pkers being able to access the world relative to people being able to pvm. They generate the most gold by far due to being much less accessible by pkers looking to raid them. Make paid revenant protection (revenant racketeering?) punishable. This is a very easy solution to implement and will knock out most of the gold farmers. People won’t feel comfortable using the ccs, making the ccs, or maintaining the ccs if it is clearly against the rules, much like commission staking. There are too many pieces to starting a revenant protection service for a paid protection service to operate underground. Make ragging less feasible, likely focused on nerfing toxic staff, nerfing maging with negative/low mage accuracy vs hides & removing phoenix necklace mitigating buffered damage during a phoenix necklace break. There should also be a set delay on when you can attack after a phoenix necklace is broken, making them only useful to be defensive and not a way to heal without suffering tick delay from food. A minimum risk of 150-300k could also be added to enter revenant caves These solutions aim to reduce most of the gold farmed money being pumped into the game, whilst giving a place for small man teams & clans to pk without being ragged for raiding the wrong world. We’ll likely see a restoration of a mix of skulled crossbow worlds and worlds of solo unskulled blowpipe and craws. A minimum risk to enter the cave would also encourage more people to bring craws over rag blowpipe, giving teams something worth raiding worlds for. Feel free to post your feedback, I’m curious to hear what others think about the current state of the revenant caves & your own potential solutions.
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
DeFi with ZEC for maximum privacy: an opinion and use case example
Why don't more people use ZEC going into DeFi is a question beyond me. To me privacy and DEX should be an essentil partnership. Ethereum has security but no more privacy than BTC. As far as I know there is no way to get XMR onto Ethereum and until then ZEC is the most private and anonymous option. I REALLY think that ZEC is not only undervalued but underutilized. I know that getting ZEC shielded is too many steps but once there it's not that bad. Thanks to RenVM and RenBridge it is super easy to mint renZEC on the Ethereum blockchain which can be used in DeFi. I have yet to find anywhere with the yield farming or much for liquidity pools but privacy has been my focus not farming gains. It has been interesting exploring this because I was able to get into UNI and get ETH without my ID needing to be verified anywhere along the way. Personally I have only done KYC with 1 exchange and I would like to keep it that way. All of this aside I would like to share the steps it would take to ensure privacy going into DeFi on Ethereum with ZEC. Step 1: Buy ZEC. Now for me I exchanged for it through Exodus Wallet because it is a no KYC exchange option(refer back to my note of only 1 KYC done). But I will use the example for a user from Gemini exchange as they just added the shielded withdrawal option. Step 2: Shield it. You will need a shielded address compatible wallet and for this I would suggest ZECwallet Lite if you don't want to run a full node. It is what I use and I think it is perfect for what I need in my privacy coin wallet. Step 3: Create a new t-addr. For this I use my laptop, phone and iPad for various wallets. In order to keep it fresh you can have one time use addresses or use the same one for DeFi, just keep it seperate from your main wallet for maximum privacy. A note here is make sure you don't send the same amount to renZEC as you sent to the shielded address, this is to avoid a time/fund correlation giveaway. Step 4: Send to RenBridge. From here you just go to RenBridge and link your ethereum wallet to mint renZEC. It takes about 15-25 minutes for all confirmations to go through. Step 5: Go do DeFi. Step 6: Cash out. So you had some fun and made some gains and now you want to cash out. How do you get the money back to your exchange? Well you first swap your tokens or ETH or whatever you got from Uniswap to renZEC. Then you send the renZEC to RenBridge simply reversing the process, send renZEC to RenBridge and receive ZEC to your ZEC wallet. This is where I am yet to find out if shielded addresses are compatible. For now the best option for privacy is again creating a new, one time use wallet. Or use the same one it is up to you. But ultimately you want it back to your z-addr which does not need to be different everytime, just the t-addr should be one time use. From there you can send to your exchange t-addr or in the case of Gemini and I believe Coinbase Pro as well you can send from a shielded address. I am still exploring this scene and the DeFi space more and learning every day. This process will change as new developments come along but this is process I found that works. I am surprised there aren't more users of ZEC into DeFi. I wanted to share my learnings so far just in case anyone else had the same questions as me about privacy in DeFi, RenVM and renZEC. Edit: I want to give a reminder that all Ethereum transactions are transparent. The best thing ZEC can do is provide the option to go in and out of Ethereum from random addresses.
The cryptocurrency markets are evolving and changing at an alarming rate. New projects are created on a daily basis in support of change from the old monetary system we have all come to know and hate. Immutable code, applications, decentralized governance entities and exchanges are bringing out the best of blockchain, but sometimes these projects start off with a loud eruption of activity and volume only to fade slowly when development ends or hits a standstill, or even when a clone with more innovation becomes more popular. This is a common problem in the cryptocurrency space that has effectively created and then terminated thousands of legitimate projects and ideas looking to make a difference in this new uncharted world of cryptocurrency. Innovation always catches up, this time in the form of EcoFi. https://preview.redd.it/db42m7kcisu51.png?width=6510&format=png&auto=webp&s=f375bdf204479b7c869ecd9349f5071b068c2552 EcoFi bills itself as "an open-sourced, permission-less and censorship-resistant protocol built to power safe and responsible innovation in the Decentralized Finance space." EcoFi is focusing on putting an end to the vicious cycle or life and death of new projects by rewarding the communities strength and adoption. It plans on accomplishing this by creating a unique marketplace that builds on the principles of DeFi token pairs and an exclusive marketplace that is housed on the EcoFi website. https://preview.redd.it/q11uhakbisu51.png?width=4234&format=png&auto=webp&s=ee7ced8f4201323e19f51fa97f17c7d315ebc9d1 The EcoFi economy will consist of 3 tokens: ECO, EcoFi Genesis Token (EGT), and Sprout (SPRT) to bring about an active and innovative marketplace. ECOhas a total supply of 10,000,000 tokens and this supply is capped. ECO is earned during limiting periods which will allow you to farm it. ECO presents an opportunity to pair it with other tokens to create new and diverse liquidity pools. Staking Liquidity tokens via the EcoFi website, users can earn SPRT tokens as rewards. These tokens can also be purchased on Uniswap. ECO's other utility will include using it to obtain unique farm-able NFT's along with curation of NFT's along with other algorithmic-ally backed assets. EcoFi Genesis Token (EGT) will act as the governance token for the EcoFi ecosystem. It will allow holders to vote and help decide on future development, integration, and decision making in regards to the future of the ecosystem. EGT will also be utilized as a tool to receive airdropped ECO. The DAO Governance platform will be released at a later date. Early adopters and utilizers of the EcoFi economy will be rewarded in both EGT and ECO for helping share the EcoFi vision and helping build its community. Sprout (SPRT) is the token that is rewarded for staking your ECO. As your yield begins to sprout up from staking, you will be eligible to earn highly unique NFT's not available for purchase. These NFT's will vary in scope, but will include connections to real world assets and even rare easter-egg NFT's. The EcoFi tokens will be distributed as described below: - 50% will be given away for public contributions - 10% will be set aside for use as Eco Genesis Tokens - 20% will be utilized for airdrops and farming - 15% will be used for the Ecosystem and marketing - 5% will be sent to the core development team https://preview.redd.it/x6n4ywi9isu51.jpg?width=852&format=pjpg&auto=webp&s=af563b39b1063792f933d933e0af6e9c16d13b64 It is important to note that from 10/23/20 to 11/3 is the EGT airdrop period. During this period, users will be airdropped 1 ECO for every 100 EGT owned. The public contribution period will also last during the same time period and it will include an ECO member sale of 5,000,000 ECO. After the DAO is live, you will be able to use your EGT to vote. https://preview.redd.it/5fftge78isu51.jpg?width=924&format=pjpg&auto=webp&s=9469ad55f3a4727d2a018fd5e0f75b27fe676d1a The team behind EcoFi includes a diverse group of developers, artists, traders, and investors that have been a part of the Forex and Cryptocurrency landscape since 2014 with a focus on Ethereum's blockchain and environment. The team has top level Ethereum development skills which will allow for a productive and smooth launch. https://preview.redd.it/f0h6zik5isu51.jpg?width=931&format=pjpg&auto=webp&s=8eca52db558901fdd20037a54f4af4885a437996 Creating a sustainable and active Cryptocurrency ecosystem is difficult over time. Providing a solution via community building/tokenomical development via a decentralized self governance reward system can be the answer to the well known project burnout problem. Unique tokenomics are a very big draw for EcoFi. Adding in unique NFT’s while also planning for the implementation of real world NFT use is not only innovative but setting EcoFi up for a strong competitive build which could potentially pave the way for further NFT usecase. Following the EcoFi community and contributing may turn into one of DeFi’s biggest game-changers. Pertinent EcoFi Links: - Litepaper:https://ecofi.io/ECOFI\_LITEPAPER.pdf - Contact:[email protected] - Medium:https://medium.com/@EcoFinance/ecofi-eclisping-the-possibilites-of-defi-64b7dcf23fc1 - Website:https://ecofi.io/ - Twitter:https://twitter.com/finance\_eco - YouTube:https://youtube.com/channel/UCn\_pnNgrKWTsLSP5Jhi7MaQ - Telegram:https://t.me/EcoFiOfficial - Airdrop:https://t.me/ecofi\_airdrop\_bot (I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) ------------------- Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
Earning Passive Income with Crypto Staking (Legit!)
Okay. So, whether you are new or have been with the bitcoin community for a while, you might not have heard of cryptocurrency staking. Madali lang sya, promise. I will share my experience at the end of this post, pero ano nga ba ang Staking? [SKIP THIS PORTION AND GO TO "HOW TO?" IF YOU DON'T WANT TO BE BORED WITH HISTORY] Compared to bitcoin mining, na sobrang hirap na kasi kailangan mo ng magandang CPU/GPU para lang magka-pera ka. Hindi na sya profittable, kasi malakas sya sa kuryente at bibili ka pa ng mga hardware. Mas eco-friendly ang Crypto Staking. Para syang investment, actually. Hahawak ka lang ng pera sa wallet mo. Mas malaki ang laman ng wallet mo, mas malaki din kita mo. Simple, right? Bakit? Let me introduce you to altcoins. Ang altcoins ay mga cryptocurrency na hindi bitcoin. Example ng mga altcoins ay Ethereum, Litecoin, Dogecoin, and marami pa sila. May mga altcoins na Proof-of-Work (POW). Meaning, kailangan mo talaga ng magandang hardware para maka-mine ka ng bagong coins. On the other hand, may mga Proof-of-Stake (POS) naman na altcoins. Sa mga POS na altcoins, hindi mo kailangan ng napakagandang gaming computer katulad ni Alodia. Ang need mo lang is magkalaman ang wallet mo, at gamit ang balance sa waller, is magva-validate ng mga bagong altcoins. Hindi na ako mag-eexplain pa dahil baka ma bored kayo, so check nyo nalang tong article na to para mas maintindihan nyo: https://www.investopedia.com/terms/p/proof-stake-pos.asp#:~:text=Proof%20of%20Stake%20(PoS)%20concept,power%20he%20or%20she%20has%20concept,power%20he%20or%20she%20has). --------------------------------------------- How to? So paano nga tayo kikita ng passive income dito? Para syang interest - gagamitin ang balance nyo para makagawa ng bagong altcoins. In exchange, may makukuha ka rin sa mga bagong na-validate. Para sayng interest sya bankgo, mas malaki hawak mo, mas malaki din kita mong interest. I won't beat around the bush any longer. Here's how you can start: Ref|Non-Ref Use either of the link above to register to Coinstake.in. Bale, ibibgay nating ang "staking rights" sa kanila. Sila na ang bahala mag-handle ng mga complicated na bahay. Ang gagawin lang natin, is magkaroon lang kayo ng balance sa wallet, and wait. OPTIONAL po ang pag deposit ng pera, OPTIONAL din ang pag-refer. Makaka income pa rin kayo kahit wala kayong ilabas sa bulsa nyo. But of course, more the merrier, which I will share later.
Register using the link above. You can use my referral link, or you can just register normally.
Pag naka-register kana at naka-login na, punta kayo ng faucets. Makakakuha kayo ng libreng altcoins every 60 minutes.
Wait and relax. Every couple hours, is magkaka "stake" or magkakakita si Coinstake. Then, magdi-distribute lang sila ng kita sa mga may balance sa particulat altcoin na yun sa website.
Madali lang, diba? So ngayon, etong altcoins na nakukuha nyo is pwede nyong i-exchange sa mga trading websites para magka BTC kayo. Then, i-withdraw nyo lang sa Coins.ph nyo na account. --------------------------------------------- Personal experience Hindi ko na-discover to actually. May nag-suggest lang sa akin sa Coinpot na subreddit. For the first few days, nagtsaga lang ako sa faucets ng Coinstake. Then, I also spent time on other faucet sites and app. Nag-farm ako ng Dogecoins. Nung naka-ipon na, nag-transfer ako sa Bololex.com. 2 Altcoins ang available sa Bololex - Tokemon (TKM) and Ratcoins (RAT). So, inexchange ko lahat ng Dogecoins ko evenly to Tokemon and Ratcoinsm then inkagay ko sa Coinstake. Siguro nakabili ako ng mga 600,000 na Tokemon, and mga 1,000,000 ng Ratcoin. Ayun, so naghintay lang ako ng 2 days, habang nagcocollect ako sa faucet. Ang TKM ko ay naging 640,000 and RAT ko naman is naging 1,070,000! Not bad for not doing anything. Sit back and relax ako, and may kita ako. Wow! So now I invested P400 lang, and just after 4 days I manage to get approximately 0.00121647 BTC (Sa coinstake kasi, on the upper right corner, it shows an estimates value in BTC). In today value, 784.89 pesos po sya. Screenshot Proof:
FYI, nag start pala ako mid-day ng October 12. So medyo bago rin ako, but I can personally attest na maganda tong website na to. --------------------------------------------- Recommendations on how to cash out Sobrang laki ng transaction fee pag nag cashout ka using BTC. Kung magca-cashout kayo, here's what I recommend.
Convert nyo lahat ng Altcoins nyo into other altcoins. I recommend any of the following: Litecoin, Dogecoin, Bitcoin Cash, Ethereum.
Pagkalagay nyo sa Faucetpay, i-convert nto lahat to just one currency. I recommend namam yung mga sinusupport ni coins ph, which is Litecoin (LTC) or Bitcoin Cash (BCH).
Pag na-credit na coinsph account mo, convert nyo na sa Pesos and kayo na bahala kung paano mag withdraw. :)
--------------------------------------------- Recommended Altcoins Here's what I'm staking right now, since this is what I started with. Tokemon (TKM) / Ratcoin (RAT) Exchange website: https://bololex.com/ I highly recommend Bololex. May games din sila na you can earn what you call BOLO tokens. Pwede mong i-convert yung BOLO sa TKM, which is pang-dagdag din sa balance mo. Minimum bonus TKM you can earn using every few hours is 5000 TKM, which is not bad. Willowcoin (WLLO) / Big Data Cash (BDCASH) / The Big Coin (BIG) / BeanCash (BITB) Exchange website: https://www.unnamed.exchange/ Infinite Ricks (RICK) Exchange website: https://www.altilly.com/ --------------------------------------------- Alam kong mahaba, pero salamat sa pagbabasa :) If you enjoyed staking, you can also consider these 2 websites. Wala nga lang faucets to, so either magdedeposit kayo, or magfafarm kayo ng faucet sa ibang lugar, then transfer nyo dito. Ref|Non-Ref - Stakecube.net Ref|Non-Ref - Stackofstake.com (Yung ipon kong extra na Willowcoin sa Stakecoin may nilalagay din ako dito)
Necessary Disclaimer: no rule breaking intended. No price manipulation intended. I only want to share verifiable facts/links and my analysis. If I am doing anything against the rules please let me know and I will do my best to fix it ASAP. I trade crypto, including LINK, and I am currently short on LINK. This is not financial advice; this is just for my own record and to start a discussion for anyone who might want more transparency around LINK.
I believe there is a lot of misinformation, uncertainty, and unanswered questions about the LINK token, the Chainlink ecosystem, the SmartContract parent company. I also believe that LINK's current price is unjustified based on fundamental factors like usage/business case/current customers/future potential. So I'm raising some points and asking some questions. What is this post? Why should I care? How do I use it? Read or skim it. It's about the LINK token, the Chainlink ecosystem, and the parent company SmartContract. It's about why I believe the price of the LINK token may be currently driven mostly by hype and not backed by standard market fundamentals like usage/economics. Update 9 AUG: reorganizing, rewriting this post and moving supporting data/sources into "appendix" comments below on this post. The previous versions of this post and my comments elsewhere were too emotionally charged and caused more division rather than honest, evidence-based, productive discussion and I sincerely apologize for that. I have now rewritten it and will continue to update it.
Threshold signatures, staking, on-chain SLAs: How real are these, is there a roadmap, how will this benefit users, is there any evidence of users currently *wanting* to use chainlink but needing these features and actively waiting for Chainlink to launch these? Staking: for there to be a valid incentive for users to stake LINK, it has to return around 5% annually because anything substantially under that would have users putting their money elsewhere (https://www.stakingrewards.com/cryptoassets) (not counting speculative capital gains in terms of LINK's price, but price gain per token/coin applies to all other crypto projects as well). Currently, for stakable cryptos, around 30-80% of their total supply is staked, and a good adjusted reward is on the order of 5% as well (some actually negative, some 10%+). The promise of staking incentivises people to buy and hold more LINK tokens (again, many other crypto projects have staking already live). That 5% reward will ultimately have to come from the customers who pay Chainlink oracle nodes to use their services, so it's an extra 5% fee for them. Of course, in the near future, the staking rewards *could* be subsidized by the founders' reserve wallets. Threshold signatures: addressed below in a comment. On-chain SLAs: [TODO] Here's supposedly Chainlink's agile/project planning board. (TODO: verify that it is indeed Chainlink's, and then analyse it) https://www.pivotaltracker.com/n/projects/2129823
I manually traced EVERY single inbound transaction/source of funds for the above 4 (not counting #1 as 10 LINK is negligible). 2 & 3 are 99.99%+ genesis-funded, being ACTIVELY topped up by a genesis wallet, last tx 4 days ago, 500,000 LINK. #4 has been funded 36 times over the past year and a half (that's 36 manual exports and I did them all). They all come from the 0x27158..., 0x2f0acb..., and https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x1f9e26f1c050b5c018ab0e66fcae8e4394eb0165 (another address like the 0x2f0acb that I went through and checked EVERY SINGLE inbound source of funds, and it's also >99.9% genesis-funded - one tx from Binance for 6098 LINK out of a total ~6,560,000 inbound LINK from genesis wallets), and two other addresses linked to Binance (0x1b185c8611d157a67d9a9d5261b0d2bd52c0bb78, 10,000 LINK and 0x039ac18afe298747c51c85e7c8f0d67c327f3883, 1,000,000 LINK) The 0x039ac... address funded the "Chainlink: Aggregator" address with 127,900 LINK, and the 0x1b185... with about ~9,600 LINK). So yes, it's technically possible that someone not related to Chainlink paid for the ETH / USD price feed because some funds do come from Binance. However, they only come from two distinct addresses. Surely for "240+" claimed partnerships, more than TWO would pay to use Chainlink's MOST POPULAR price feed? That is, unless they don't pay directly but to another address and then Chainlink covers this one from their own wallets. I will check if that's in line with Chainlink's whitepaper, but doesn't that throw doubt on the whole model of end-users paying to use oracles/aggregators, even if it's subsidized? I provide you this much detail not to bore you but to show you that I went through BY HAND and checked every single source (detailed sources in Appendix B) of funds for the OFFICIAL, Chainlink-listed "ETH/USD" aggregator that's supposedly sponsored by 10 DeFi partners (Synthetix, LoopSpring, OpenLaw, 1inch, ParaSwap, MCDEX, FuturesSwap, DMM, Aave, The Force Protocol). Yet where are the transactions showing that those 10 partners have EVER paid for this ETH/USD oracle? Perhaps the data is there so what am I missing? This ETH/USD aggregator has transferred out ~76,000 LINK to I guess the data providers in increments of .33 LINK. It has 21 data providers responding. I will begin investigating the data providers themselves soon. And those middle addresses like 0x1f9e26... and 0x2f0acb...? They have transferred out hundreds of thousands if not millions of LINK to exchanges. And that's just ONE price pair aggregator. Chainlink has around 40 of these (albeit this one's one of the more popular ones). SNX / ETH aggregator is funded 100% by genesis-sourced wallets, only 3 inbound transactions: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xe23d1142de4e83c08bb048bcab54d50907390828 Some random examples (for later, ignore these for now) *********** https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x039ac18afe298747c51c85e7c8f0d67c327f3883 bought 1,000,000 LINK from Binance in Sept 12 & 15, 2019. (one of the possible funding sources for the ETH / USD aggregator example above) This address got 500,000 LINK from 0x27158... and has distributed them into ~5-10,000 LINK wallets that haven't had any out transactions yet https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x5bcf3edc0bb7119e35f322ba40793b99d4620f1e ************** Another example with an unnamed aggregator-node-like wallet that was only spun up 5 days ago, Aug 5: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x2cbfd29947f774b8cf338f776915e6fee052f236 It was funded 2,000 LINK SOLELY by the 0x27158... wallet and has so far paid out ~500 LINK in 0.43 LINK amounts to 9 wallets at a time. For example, this is one of the wallets it cashes out to: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x64fe692be4b42f4ac9d4617ab824e088350c11c2#tokenAnalytics That wallet extremely consistently collects small amounts of LINK since Oct 2019. It must be a data provider because a lot of Chainlink named wallets pay it small amounts of LINK regularly. It has transferred out 20 times. The most recent transfer out: https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0xc8c30fa803833dd1fd6dbcdd91ed0b301eff87cf which then immediately transferred to the named "1inch.exchange" wallet, so I assume this was a "cash-out" transaction. It has cashed out via this address a lot. Granted, it also has transfer-out transactions that haven't (yet) ended up in an exchange wallet, eg https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x88e5353a73f38f25a9611e6083de6f361f9b537b with a current balance of 3000 LINK. This could be a user's exchange wallet, ready to be sold, or could be something else. No way for me to tell as there are no out txs from it.
LINK overall transaction, volume, and tx fees
This is to understand how much $ moves through the LINK ecosystem through: nodes, data providers, reserve wallets, wallets linked to exchanges, others. A typical aggregator node tx (payout?): https://etherscan.io/tx/0xef9e8e6dd94ebe9bbac8866f18c2ea0a07408ced1aa77fa04826043eaa55e772 This is their ETH/USD aggregator paying out 1 LINK to each of 21 addresses. Value of 21 LINK ~= $210. Total eth tx fees: .233 ETH (~$88.5, ~42% of the total tx value. If LINK was $4.2 instead of $10, the tx fees would be 100% of the value of the tx). Transactions like this happen every few minutes, and the payout amounts are most often 0.16, 0.66, 1.0, and 2.0 Link. Chainlink’s node/job listing site, https://market.link, lists 86 nodes, 195 feeds, 801 jobs, ~1,080,000 job runs (I can’t tell if this is over the past 2 months or 1.5 years). Only 20 nodes have over 1000 job runs, and 62 nodes have ZERO runs. Usual job cost is listed as 0.1 link, but the overall payout to the nodes is 10-20 times this. The nodes then cash out usually through a few jump addresses to exchanges. Some quick maths: (being generous and assuming it’s 1mil jobs every 2 months = ~6mil link/year = $60,000,000 revenue a year. This is the most generous estimate towards link’s valuation I’ve found so far. If we ignore the below examples where on multi-node payouts the tx fees are more than the node revenue itself, then it’s almost in line with an over-valued (but real) big tech company. For example, one of the latest CHF/USD job runs paid 0.1 LINK to 9 addresses (data providers?) - total $14.4 payout - and paid 0.065 ETH ($24.5) in fees. That’s a $10.1 LOSS on a $14.4 revenue: https://etherscan.io/tx/0xa6351bab810b6864bfebb0f6e1e3bde3c8856f8aac3ba769dd2e6d1a39c0d23f Linkpool’s (one of the biggest node operators) “ETH-USD CryptoCompare” job costs 0.1 link and has 33 runs in the past 24 hours (once every ~44min), total ~78,000 runs since May 30 2019 (once every ~8min). https://market.link/jobs/64bb0845-c4e1-4681-8853-0b5aa7366101/runs (PS cryptocompare has a free API that does this. Not sure why it costs $1 at current link prices to access an API once)
Top 100 wallets (0.05% of ~186,000 total) hold 83% of tokens. 8 wallets each hold over 1% of total, 58 hold over 0.1%. Of these 58, 9 are named exchange/lending pool wallets. For comparison, for Tether (TUSD), the top 100 wallets (0.006% of ~1,651,000 total) hold 35.9% of the supply. 3 addresses hold over 1% of the supply and 135 hold over 0.1%. Of these 135, at least 15 are named exchange/lending pool wallets. LINK’s market cap is $3.5B (or $10B fully diluted, if we count the foundedev-controlled tokens, which we should as there's nothing preventing them from being moved at a moment's notice). Tether’s is $6.9B. Tether has 10 times more addresses and less distribution inequality. Both LINK and Tether are ERC20 tokens, and even if we temporarily ignore any arguments related to management/roadmap/teams etc, Tether has a clear, currently functional, single use case: keep 1 USDT = $1 USD by printing/burning USDT (and yet as of April 2019, only 74% of Tether's market cap is backed by real funds - https://en.wikipedia.org/wiki/Tether_(cryptocurrency))). Given that Chainlink's market cap is now 50% bigger than Tether's, surely by now there's AT LEAST one clear, currently functional use case for LINK? What is it? Can we *see* it happening on-chain?
Chainlink’s actual deliverable products
"What do I currently get for my money if I buy LINK 1) as an investor and 2) as a tech business/startup thinking of using oracles?” Codebase (Chainlink’s github has around 140-200,000 lines of code (not counting html/css). What else is not counted in this? Town crier? Proprietary code that we don't know about yet? How much CODING has Chainlink done other than what's on github? Current network of oracles - only ~20 active nodes - are there many more than the ones listed on market.link and reputation.link? If so, would be nice to know about these if we're allowed! Documentation - they have what seems like detailed instructions on how to launch and use oracle nodes (and much more, I haven't investigated yet) (TODO this part more - what else do they offer to me as an end consumer, and eg as a tech startup needing oracle services that I can’t code myself?)
Network utilization statistics:
Etherscan.io allows csv export of the first 5000 txs from each day. From Jul 31 to Aug 6 2020, I thus downloaded 30,000 tx from midnight every day to an average of 7:10am (so 24 hour totals are 3.34x these numbers if we assume the same network utilization throughout the day). (Summary of all LINK token activity on the ETH blockchain from 31.07 to 06.08, first 5000 txs of each day (30k total) shown Appendix A comment below this post.) If we GENEROUSLY assume that EVERY SINGLE transaction under 10.0 LINK is ACTUAL chainlink nodes doing ACTUAL work, that’s still under 0.1% of the LINK network’s total volume being used for ACTUAL ecosystem functioning. The rest is speculation, trading, node funding by foundedev wallets, or dumping to exchanges (anything I missed?) Assuming the above, the entire turnover of the actual LINK network is currently (18,422 LINK) * ($10/LINK) * (3.34 as etherscan.io’s data only gives first 5000 tx per day which averages to 7:10am) * (52 wk/year) = USD $31,995,329 turnover a year. Note: the below paragraph is old analysis using traditional stock market Price/Earnings ratios which several users have now pointed out isn't really applicable in crypto. I leave it for the record. Assuming all of that is profit (which it’s not given tx fees at the very least), LINK would need a PE ratio (Price/Earnings) of 100 times to justify its current (undiluted) valuation of $3.5 billion of 300 if you count the other 65% of tokens that haven’t been dumped by the founders/devs yet. For comparison, common PE ratios are 32 (facebook), 29 (google), 37 (uber), 20 (twitter on a good year), 10 (good hedge fund returning 10% annual).
Thoughts on DeFi & yield-farming - [TODO]
Why would exchanges who do their due diligence list LINK, let alone at a leverage? 1) that's their business, they take a cut of every transaction, overhyped or not, 2) they're not safe from listing openly bearish tokens like EIDOS (troll token that incentivized users to make FAKE transactions, response to EOS) https://www.coindesk.com/defi-yield-farming-comp-token-explained The current ANNUAL yield on liquidity/yield farming is something like 2% on STABLE tokens like USDC and TETHER which at least have most of their supply backed by real-world assets. If Chainlink LINK staking is to be successful, they'll have to achieve at LEAST that same 2% at end-state. IF LINK is in bubble territory and drops, that's a lot of years at 2% waiting to recoup losses.
SmartContract Team & Past Projects
Normally I don't like focussing on people because it leads too easily to ad-hominem attacks on personality rather than on technology/numbers as I've done above, but I came across this and didn't like what I saw. Steve Ellis, SmartContract's current CTO, co-founded and worked in "Secure Asset Exchange" from 2014 to 2016. They developed the NXT blockchain, issued 1,000,000,000 NXT tokens (remind you of anything?), NXT was listed end of 2013 and saw 3 quick 500%-1000% pumps and subsequent dumps in early in mid 2014, and then declined to . SecureAE officially shut down in Jan 2016. Then at some point a company called Jelurida acquired the rights to NXT (presumably after SecureAE?), then during the 2017 altcoin craze NXT pumped 300 times to a market cap of $1.8 BILLION and then dumped back down 100 times and now it's a dead project with a market cap of $13 million. https://www.linkedin.com/in/steveellis0606/ https://trade.secureae.com/ https://coinmarketcap.com/currencies/nxt/ https://www.jelurida.com/news/lawsuit-against-apollo-license-violations As an investor or business owner, would you invest/hire a company whose co-founders/CTO's last project was a total flop with a price history chart that's textbook pump-and-dump behaviour? (and in this case, we KNOW the end result - 99% losses for investors) If you're Google/Oracle/SWIFT/Intel, would you partner with them?
Open questions for the Chainlink community and investors:
Network activity: Are there any other currently active chainlink nodes other than those listed on market.link and reputation.link? If so, is there a list of them with usage statistics? Do they use some other token than LINK and thus making simple analytics of the LINK ERC20 token not an accurate representation of Chainlink’s actual activity? If the nodes listed on the two sites above ARE currently the main nodes, then
PR, partnership announcements: Why is the google tweet still pinned to the top of Chainlink’s twitter? Due to the frequently circulated Chainlink promotion material (https://chainlinkecosystem.com/) that lists Google as one of the key partners, this tweet being pinned is potentially misleading as there isn't anything in there to merit calling Google a "collaborator" or "partner" - just that blockchains/oracles *can* use Google's APIs (but so can most software in the world). Is there something else going on with the SmartContract-Google relationship that warrants calling Google a partner that we're simply not aware of yet?
By buying LINK, what backs YOUR money: If you have bought and currently hold LINK tokens, how comfortable are you that the future promise of your investment growing is supported on verifiable business and technological grounds versus pure, parabolic hype? If after reading this post you still are, I kindly ask you to reply and show how even one of the points I provided is either incorrect or not applicable, and I will edit my post and include your feedback in the relevant section as I have already done from other users.
What have I missed? Of course not 100% of what I've said is infallible truth. I am a real human, and I have plenty of biases and blind spots. Even if what I've provided is technically correct, there may be other much more important info that I've missed that eclipses what I've provided here. Ask yourself: if the current hype around LINK is indeed valid and points to a $100/$1000 future LINK price, then Where’s Chainlink’s missing financial/performance/usage evidence to justify LINK’s current valuation of $10+?
For your consideration, I have provided evidence with links that you can follow and verify, and draw your own conclusions. I have made my case as to why I believe the LINK token is currently priced much higher than evidence supports, and I ask you to peer-review my analysis and share your thoughts with me and with the wider LINK/crypto community. Thank you for your time, I realize this is a long post. All questions and feedback welcome, feel free to comment or PM. I won't delete/censoblock (except for personal threats, safety considerations etc). I am a real human but I am not revealing my true identity for obvious privacy/harassment reasons. (If anyone is wondering about my credentials ability to add 2+2 and work with basic spreadsheets: I have previously won a math competition in a USA state, I won an English-speaking country's physics olympiad, my university education is in mathematical physics/optimization engineering, and I worked for a few years in a global manufacturing company doing data analytics, obviously I'm not posting my CV here to verify that but I promise you it's the truth) I’m not looking to spread neither FUD, nor blind faith, nor pure hype, and I want an honest transparent objective discussion. I personally believe more that LINK is overvalued, but my beliefs have evolved and may continue to do so as I research more and understand more about Chainlink, LINK, Ethereum, DeFi, and other related topics, and as I incorporate YOUR feedback. If you think I haven't disclosed something, ask. As always, this is not financial advice and I am not liable for anything that may happen as a result of you reading this!
The cryptocurrency markets are evolving and changing at an alarming rate. New projects are created on a daily basis in support of change from the old monetary system we have all come to know and hate. Immutable code, applications, decentralized governance entities and exchanges are bringing out the best of blockchain, but sometimes these projects start off with a loud eruption of activity and volume only to fade slowly when development ends or hits a standstill, or even when a clone with more innovation becomes more popular. This is a common problem in the cryptocurrency space that has effectively created and then terminated thousands of legitimate projects and ideas looking to make a difference in this new uncharted world of cryptocurrency. Innovation always catches up, this time in the form of EcoFi. EcoFi bills itself as "an open-sourced, permission-less and censorship-resistant protocol built to power safe and responsible innovation in the Decentralized Finance space." EcoFi is focusing on putting an end to the vicious cycle or life and death of new projects by rewarding the communities strength and adoption. It plans on accomplishing this by creating a unique marketplace that builds on the principles of DeFi token pairs and an exclusive marketplace that is housed on the EcoFi website. The EcoFi economy will consist of 3 tokens: ECO, EcoFi Genesis Token (EGT), and Sprout (SPRT) to bring about an active and innovative marketplace. ECOhas a total supply of 10,000,000 tokens and this supply is capped. ECO is earned during limiting periods which will allow you to farm it. ECO presents an opportunity to pair it with other tokens to create new and diverse liquidity pools. Staking Liquidity tokens via the EcoFi website, users can earn SPRT tokens as rewards. These tokens can also be purchased on Uniswap. ***ECO'***s other utility will include using it to obtain unique farm-able NFT's along with curation of NFT's along with other algorithmic-ally backed assets. EcoFi Genesis Token (EGT) will act as the governance token for the EcoFi ecosystem. It will allow holders to vote and help decide on future development, integration, and decision making in regards to the future of the ecosystem. EGT will also be utilized as a tool to receive airdropped ECO. The DAO Governance platform will be released at a later date. Early adopters and utilizers of the EcoFi economy will be rewarded in both EGT and ECO for helping share the EcoFi vision and helping build its community. Sprout (SPRT) is the token that is rewarded for staking your ECO. As your yield begins to sprout up from staking, you will be eligible to earn highly unique NFT's not available for purchase. These NFT's will vary in scope, but will include connections to real world assets and even rare easter-egg NFT's. The EcoFi tokens will be distributed as described below: - 50% will be given away for public contributions - 10% will be set aside for use as Eco Genesis Tokens - 20% will be utilized for airdrops and farming - 15% will be used for the Ecosystem and marketing - 5% will be sent to the core development team It is important to note that from 10/23/20 to 11/3 is the EGT airdrop period. During this period, users will be airdropped 1 ECO for every 100 EGT owned. The public contribution period will also last during the same time period and it will include an ECO member sale of 5,000,000 ECO. After the DAO is live, you will be able to use your EGT to vote. The team behind EcoFi includes a diverse group of developers, artists, traders, and investors that have been a part of the Forex and Cryptocurrency landscape since 2014 with a focus on Ethereum's blockchain and environment. The team has top level Ethereum development skills which will allow for a productive and smooth launch. Creating a sustainable and active Cryptocurrency ecosystem is difficult over time. Providing a solution via community building/tokenomical development via a decentralized self governance reward system can be the answer to the well known project burnout problem. Unique tokenomics are a very big draw for EcoFi. Adding in unique NFT’s while also planning for the implementation of real world NFT use is not only innovative but setting EcoFi up for a strong competitive build which could potentially pave the way for further NFT usecase. Following the EcoFi community and contributing may turn into one of DeFi’s biggest game-changers. Pertinent EcoFi Links: - Litepaper:https://ecofi.io/ECOFI\_LITEPAPER.pdf - Contact:[email protected] - Medium:https://medium.com/@EcoFinance/ecofi-eclisping-the-possibilites-of-defi-64b7dcf23fc1 - Website:https://ecofi.io/ - Twitter:https://twitter.com/finance\_eco - YouTube:https://youtube.com/channel/UCn\_pnNgrKWTsLSP5Jhi7MaQ - Telegram:https://t.me/EcoFiOfficial - Airdrop:https://t.me/ecofi\_airdrop\_bot (I write articles and reviews for legitimate, interesting, up and coming cryptocurrency projects. Feel free to PM me to review your project. Thank you!) ------------------- Disclaimer: This is not financial advice. The sole purpose of this post/article is to provide and create an informative and educated discussion regarding the project in question. Invest at your own risk.
Current Hashrate much lower than reported (Ethermine)
Hello to all, i am a big newbie and i want to make an investment into buying a mining rig. So i tried to farm with my gaming pc just to see how is it done and then buy my rig. I have a GTX 1070 and with a little tweeks with MSI afterburner i have ~29 MH/s reported hashrate. Ethermine pool with claymore miner and i mine Ethereum. Although Ethermine's pool give me a current arroun 20 Mh/s......... 30 % lower!!!! Ok i know that you lose some from fees and some from network latancy but i have no stale shares.Also why my reported hash rate got to zero 3 times? Why there is this big gap? If i buy a rig with 6 5700xt that i want ~ 300Mh's will i have the same problem? Also btw, electricity cost is about 0.07$ .What are your opinion? Should i invest in buying this rig? https://preview.redd.it/tll4i25d9an51.png?width=1233&format=png&auto=webp&s=972eb4389488f15b88fe9c73b4b387329e0308a3
27 Companies That Have Switched to Long-Term Remote Work
COVID-19 has forced companies all over the world to adapt to and embrace remote work—at least for the short term. And although the transition to working from home was fast and furious for a lot of organizations, many companies are now figuring out that working remotely is the future of work—pandemic or not. Recent news stories abound with company announcements of extended work-from-home policies, with some even deciding to allow employees to work from home permanently. For companies already integrating some remote work before the pandemic hit, the move toward a fully remote workforce was a natural one. For others, it took the world’s largest work-from-home experiment to show that remote work is productive, successful, and collaborative. And, remote work has significant benefits for both employers and employees, not the least of which is increased productivity and better work-life balance.
Employees Want Remote Work, Too
According to a Global Workplace Analytics survey of employees working remotely during the pandemic, 73% note that they are very successful when working from home, and 86% say they feel “fully productive” working from their home office. And, of the 3,000 respondents, 76% want to continue working from home at least 2.5 days per week, on average. It’s clear that employees value being able to work from home. And as more and more companies switch to a remote-first or fully remote model, job seekers have an even better chance of finding (and landing) the ideal work-from-home position. Below are 27 companies that have recently switched to long-term remote work, along with recent remote opportunities that have been posted to FlexJobs (to see current openings, log in to your FlexJobs account).
As a software company that provides solutions for web-based applications and content development, Adobe is well-known for its Adobe Flash Technology, used in more than 75% of online videos. Remote work plans: Adobe is planning on having employees work remotely until October 2, 2020. Recent remote job openings:
Founded in 1850, Aetna provides high-quality healthcare and services to protect consumers financially from health-related risks. Aetna offers health insurance products to more than 50 million network members, including medical, dental, pharmacy, disability, behavioral health, and group life plans. Remote work plans: Aetna plans to keep the majority of its office employees working remotely until at least the start of 2021. Recent remote job openings:
As the largest online retailer in the world, Amazon employs nearly 92,000 employees all over the globe and offers traditional and e-books, furniture, household items, apparel, electronics, music, movies, and more. Remote work plans: Employees whose positions allow them to work from home can do so until January 8, 2021. Recent remote job openings:
Ancestry.com is a leading provider of accessible, online family history research services, with more than 12 billion records, proprietary search technologies, and a community of nearly 2 million subscribers. Remote work plans: Employees of Ancestry.com can work from home through December 31, 2020. Recent remote job openings:
Capital One, one of the nation’s top 10 largest banks, provides financial services and products for consumers, commercial customers, and small businesses nationwide. Remote work plans: Capital One plans to keep all non-essential staff working from home until the end of 2020. Recent remote job openings:
Coinbase offers cryptocurrency services designed to facilitate transactions in open-source, peer-to-peer digital currencies like bitcoin, ethereum, and litecoin. Remote work plans: Coinbase has become a “remote-first” company, allowing most staff who want to work remotely to do so indefinitely. Once pandemic restrictions are lifted, employees who want to return to the office will be able to for some or all of their working hours. Recent remote job openings:
Founded in 2014, Facebook is the largest social media network worldwide, with more than 2.6 billion monthly active users. Remote work plans: Facebook plans to keep staff working remotely until July 2021. Recent remote job openings:
Gartner is an IT research and advisory company that provides insight, strategic advice, and practical solutions to help companies and organizations worldwide make efficient, high-quality business decisions. Remote work plans: All Gartner employees will work remotely through January 1, 2021. Recent remote job openings:
Information technology and services company, Infosys, offers services to clients in more than 50 countries worldwide. Infosys solutions include strategic consulting, digital transformation, insights and analytics, business services, engineering services, and finance and accounting. Remote work plans: Infosys plans on having 33%-50% of its workforce work from home permanently. Recent remote job openings:
Founded in 2017 as a revolutionary alternative to traditional colleges, Lambda School trains students for high-tech careers with 100% online classes and no up-front costs. Remote work plans: Lambda School has rolled out a permanent work-from-anywhere policy, and employees can work from anywhere in the U.S. Recent remote job openings:
Mastercard is a worldwide transaction, payment-processing, and consulting company with the fastest-payment processing network in the world. Remote work plans: Mastercard is allowing its employees to work from home until COVID-19 fears subside, and people feel comfortable coming into offices. Recent remote job openings:
Microsoft is a multinational technology corporation that develops, manufactures, and markets computer software, consumer electronics, and personal computers. Remote work plans: Microsoft is giving its employees the option to work from home through at least January 19, 2021. Recent remote job openings:
As one of the nation’s oldest and largest financial and insurance services companies, Nationwide Insurance provides customers with farm, life, homeowners, auto, commercial insurance plans, and other products and services. Remote work plans: Nationwide Insurance is permanently transitioning to a blended work model, with the majority of employees working from home indefinitely. Recent remote job openings:
Nielsen is an international performance management, information, and measurement company that provides clients with a comprehensive understanding of what consumers are buying and watching. Remote work plans: Nielsen will be converting offices to team meeting spaces post-pandemic, and employees will be able to work from home most of the week moving forward. Recent remote job openings:
PayPal is a financial technology company with a platform that allows buyers and sellers to securely conduct online transactions. PayPal works with over 179 million merchants and consumers from more than 200 international markets. Remote work plans: PayPal employees will work from home until October 1, 2020. Recent remote job openings:
Raytheon is a defense, aerospace system, and homeland security company that specializes in missile defense, command and control, sensors and imaging, training, cybersecurity, mission support, and research and development. Remote work plans: Employees at Raytheon can work remotely through the end of 2020. Recent remote job openings:
Salesforce employs more than 34,000 people, and its customer success platform is the world’s #1 customer relationship management (CRM) tool. Remote work plans: Salesforce employees have the option of working from home through at least August 2021. Recent remote job openings:
Shopify is an ecommerce company that provides a multichannel, cloud-based commerce platform for small and midsized companies to design, organize, and manage stores across various sales channels. Remote work plans: All of Shopify’s 5,000 employees can work from home indefinitely. Recent remote job openings:
Started in 1847, Siemens is a global industrial electrical engineering and electronics corporation that operates nine divisions. Products include industrial controls, energy-efficient building solutions, wind turbines, medical imaging technology, and train and subway solutions. Remote work plans: 140,000 of Siemens’ employees can permanently work from home for two to three days per week. Recent remote job openings:
Slack offers real-time messaging, archiving, and search services designed to facilitate team communication so users can quickly and efficiently stream communication and documents to share with colleagues. Remote work plans: Most Slack employees have the option to work from home permanently, and Slack is committing to hiring more permanently remote employees. Recent remote job openings:
Smartsheet offers a leading cloud-based platform for work execution and collaborative work management and process automation. Smartsheet’s platform enables users to automate, capture, plan, track, and work at scale. Remote work plans: Smartsheet employees will be able to work from home through October 9, 2020. Recent remote job openings:
Square began as a small credit card-reading application, and now provides merchants with the ability to manage point-of-sale systems, accept credit card payments, and sell online. Remote work plans: Even when offices begin to open, Square employees will be able to work from home permanently. Recent remote job openings:
Headquartered in Hartford, Connecticut and founded in 1810, The Hartford is one of the country’s largest investment and insurance companies, offering group benefits, property and casualty insurance, and mutual funds. Remote work plans: The vast majority of employees at The Hartford will work from home through the end of 2020. Recent remote job openings:
Twitter is an online social networking and news service that allows people to post messages and interact with others instantly around the world using short messages. Remote work plans: Employees at Twitter will be able to work from home indefinitely, going into the office if and when they choose. Recent remote job openings:
Upwork is the world’s largest freelance marketplace offering 2,500 skill categories, with 10 million registered freelancers and 4 million registered client companies. Remote work plans: Upwork is permanently adopting a remote-first model, with remote work being the default for all employees. Recent remote job openings:
Zillow is an online real estate marketplace that allows users to buy, sell, rent, finance, and remodel properties. Remote work plans: Most employees at Zillow will be able to work from home permanently. Recent remote job openings:
Regional Government Relations and Public Affairs Manager
Zipwhip is a Software-as-a-Service (SaaS) company that provides software to text-enable existing phone numbers by adding texting to existing landlines, toll-free phone numbers, and VoIP. Remote work plans: Zipwhip has extended its work-from-home policy for all employees through July 2021. Recent remote job openings:
Manager – Fraud and Spam
Workflow Planning Analyst
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Warning, long post from my mornings contemplation. See https://twitter.com/markjeffrey/status/1300175793352445952 (Mark Jeffery 30 mins) for a video explaining DeFi. This is my attempt at explaining DeFi. I’m still learning this stuff, so any corrections are welcomed. Links are provided for information, none are recommendations, nor referral links. Do your own research (DYOR) before investing :) I’ll try not to shill YFI too much... Not all platforms use the same mechanics as I describe, but I think I’ve covered the most common ones. Stable coins Crypro currency that is intended to maintain a level value. Normally with respect to USD $. Some rely on a trusted third party who has actual USD sitting in a bank account (USDT aka Tether, USDC…), others are trustless (DAI) Maker Lock collateral into the smart contract. Then DIA can be generated, and used for other things. DAI is designed to match the USD, and is completely trustless. You must have more value staked than the DAI removed (at least 150% over collateral) or you will get liquidated. BTC on ETH Bitcoin can not be directly used on the etherium chain. So, there are a number ways to make the value availble. Most involve trusting a 3rd party and the most common is wrapped BTC wBTC. Notes WETH (Wrapped ETH) is used by some contracts to use ETH (direct use of ETH is not possible in some contracts) Unlinke WBTC, WETH is trustless as evrythign is done on the etherium blockchain (I think). Lending You deposit a valuable token onto a pool on platform, someone else borrows it. They pay interest to the pool. You get a proportion of the pools interest over time. When there is high demand for a particular token, the interest rate increases dynamically. e.g. look at the interest rate model and click on the figure for https://compound.finance/markets/USDC Borrow rates increase lineally as more of the available pool is loaned. 2% at zero and 12.5% when the pool is emptied. Earnings are lower than the borrowing rates because: There is more in the pool than borrowed. The platform takes a cut. e.g. 50% of the pool is borrowed, the borrower pays 7.25%, but the lenders only get 3.38%. 3.38/0.5 = 6.76%, so about 0.5% of the interest is being taken by compound. Different pools have different interest rate functions, DAI has an inflection point to maintain a buffer https://compound.finance/markets/DAI The interest rate increases slowly to 4% until 75% of the available pool is loaned out. Then it’s much more expensive to borrow e.g. 16% APR at 90% utilisation. When lending a single token into a single pool, you should always get the (slightly ?) more of same token back. How lending works You deposit ETH, you are given a token back as proof of participation in the pool (cETH for comound.finance). The exchange rate for cETH to ETH is NOT fixed. Rather is changes over time. As the ETH interest is paid into the pool the cETH becomes more valuable compared to the initial deposit. e.g. you deposit 10 ETH, and get 499.52 cETH. In a months time, you repay the 499.2 cETH cETH and get 10.1 ETH back. You have just gained 1%. Taxes In many jurisdictions, converting ETH to cETH would be classed as a taxable event (DYOR ! ) Lego Bricks The cETH represents your ETH, so it has value. This means it can be used for other things... Lego bricks is taken to mean that all these things fit together and you can sue them in different ways. How borrowing works You need to be over colarteralised to borrow from most platforms. So, if you deposit 10.0 ETH into a smart contract, you (currently) have $4,000 of collateral to work with. The platform may then let you borrow a % of your collateral in other tokens. So, you can borrow $2,000 of USDC, to buy more 5 ETH. Then when ETH price goes up you sell $2100 back to USDC and repay the interest. Now you have 10.x ETH. This is a form of Leverage, when the price goes up, you win. However, if the ETH price goes down, you risk being Liquidated. This means part of your collateral will be sold at the (lower) market price to repay your loan. There will likely be a penalty for you. (e.g. @ ETH = $300, 7.33 of your ETH is sold for $2,400, your USDC loan is repaid, and you keep the remaining 2.67 ETH and the 5 ETH you purchased. Shorting Deposit $8,000 collateral, Borrow 10 ETH and sell for $400 each. If the price drops to $380, buy 10.1 ETH and repay the loan and interest. You have just made $162 profit. However, if the price goes up you will still need to buy 10.1 ETH. Flash Loans A technomage creates a single transaction that borrows lots of money. Then within the same single ~13 second block uses it to do lots of complex things to hopefully make a profit. As it’s all within a single block, collateral is not required. See https://mobile.twitter.com/nanexcool/status/1297068546023993349 for a transaction that made ~46,000 USDC profit (without collateral) If this post is introducing you to the possibilities of flash loans, you are very unlikely to ever do one in the near future. I think Aave is the most common source for flash loans. Simple farming lending: Simply put you token in which ever platform offers the largest interest rate. Moving to the best option costs gas (and attention). Complex lending farming Some platforms offer tokens in return for using a platform, so simple APR comparisons aren’t sufficient. If the additional platform token has high value it can distort the market. E.g. when COMP was initially offered, it was profitable to:
Place collateral on compound.finance
Borrow BAT at 30%
Lend the BAT back to the same platform at 15%
Collect the COMP accrued due to interest paid and interest earned.
Sell the COMP on the open market.
This technique was made less favourable by compound changing the distribution model so smaller pools (like BAT) couldn’t be exploited in this way. DEX Decentralised exchanges range from ones that operate with depositing assets, trading with an order book and then withdrawing, to simple interfaces that allow you to swap tokens. of the latter, the most popular is uniswap. Liquidity provision The swap based DEX’s rely on liquidity providers (LP). Here you deposit equal values of two tokens e.g. USDC and ETH. Then any time someone wants to swap USDC for ETH on the exchange, they add USDC and remove ETH from the pool. Each time someone does a swap, they pay a fee to the liquidity pool and you get a share. Impairment loss However, if the price of one asset goes up, the pool with stabilise to have less of it. So you see an overall increase, but not as much as if you had just hold’ed. See https://twitter.com/ChainLinkGod/status/1270046868932661248 for an example. Hopefully, the fees accrued are greater than the losses. https://twitter.com/Tetranode/status/1300326676451057664/photo/1 Stable coin pairs If you restrict yourself to similar things (e.g. USD stable coins, or different versions of BTC on Ethereum), then the impairment loss is much reduced. Curve.finance focuses on such like for like pools and allows multiple tokens in a single pool. Complex farming liquidity pools Taking advantage of governance token rewards for using certain exchanges / pools. This can be done to boot strap liquidity and / or allow a decentralisation of the governance of the DEX. The tokes received have value because of expected future income, or governance rights (which may be exploited for future income) Yearn Yearn is a group of smart farmer protocols that allow pooling to reduce gas costs and benefit from smart developers / contracts. The simplest EARN take tokens / stable coins and place them in the highest yielding platform for that token. https://yearn.finance/earn The yCRV vault provides USD stable coin liquidity within curve for trading fees, but also lending fees via Yearn pools for each stable coin (oh and it gets CRV governance tokens…). Other vaults use more complex strategies. The collateral is used to generate stable coins that then generate income from interest rates, Liquidity provision fees, and accrual of governance tokens. Some governance tokens are sold, others are used to optimise the rewards from other platforms. For example, see this video on the Link Vault (Mark Jeffrey 13 mins). https://twitter.com/markjeffrey/status/1300175793352445952 I expect the ETH vault may be similar, but may include Maker to generate the stable coins (rather than borrowing on Aave). This video is a good intro on curve / yearn products (DeFIDad 31 mins) https://www.youtube.com/watch?v=yP-4pJpKbRU All of these steps can be done by yourself, however, gas costs would be significant unless you have a large amount invested. Yearn, and vaults pay fees to the YFI protocol. YFI YFI is the token for yearn. There are only 30,000 issued. So, you can not earn them, you can: 1) Stake them for governance rewards 2) place in a yYFI vauly to gain more FYI 3) Use them as long term Ventrue capital funds within a DAO (coming soon (tm) ). YFII, YVFV etc. Forks of the YFI with different tokens / fees. YAM, Sushi, YFII, etc. To be completed… Synthetix To be completed... Finally: This is not financial advice. There are multiple risks which get larger as more moving parts are added. Errors and omissions expected. Do you own research. Comments and corrections welcomed
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