Ok, and which did you mine that don't exist anymore? Anything of note that was mineable the past 4 years is still around. I never entertained mining shitcoins 4 years ago because it was not profitable. Only exception was Ethereum. I mined it even when the price crashed down to $80 or so. But at that price mining was still an almost breakeven situation because of the difficulty level, electrical costs and the fact that the rigs were heating the home.
BITCOIN
- Thread starter Weather Man
- Start date
Yeah well that's just as crazy a concept as the creation of the solar system from a solar nebula. You can't escape the crazy factor with any theory.
I recently had to reconfirm my identity on Coinbase. Had to upload a drivers license.
I am staking 40 ETH on Coinbase. Initially the APY was 6%, now it has dropped to 4.5%. Staking has yielded close to 1.5 ETH so far since I enrolled in it in May 2021.
I just noticed in an email from Coinbase that they increased the limit from 40 to 500 ETH months ago. Wish I had paid attention. I am going to stake more now. I can't touch the staked ETH since it is locked up - I am fine with that.
Two business partners and I have another crypto business with a Coinbase account. I set that one up also. We were locked out from the account and last night I had to upload my drivers license and also a current webcam photo. We have to wait a few days now for them to review. Interested to see if there will be more bullshit to go through with that business account.
have you looked into other "farms" outside of Coinbase?
They usually use Wrapped ETH tho, but the yields are tremendous, and some places offer insurance to cover loss of funds from hacks/etc.
Crypto, so valuable, it has to be destroyed.
The amount of Ethereum (CRYPTO: ETH) burned soared in January leading to expectations of the lowest emission month.
What Happened: Ethereum burns rose this month resulting in the largest daily deflation of minus 6823 ETH on Jan. 10, according to Delphi Digital data.
The independent research firm wrote in a note that when January’s ETH emissions are compared to previous months — a trend of net burn is observable.
Ethereum Burning Intensified In January — Is The No. 2 Crypto About To Chart A Course To Recovery?
Daily Net ETH Emissions — Courtesy Delphi Digital
“OpenSea and NFTs played a large role in propping up transaction numbers and the volatility across crypto. In turn, this led to more token movements and swaps, further increasing this month’s burn,” said Delphi Digital.
Burning implies taking a cryptocurrency out of circulation. The process is done by sending coins to a wallet that cannot be used for transactions.
The amount of Ethereum (CRYPTO: ETH) burned soared in January leading to expectations of the lowest emission month.
What Happened: Ethereum burns rose this month resulting in the largest daily deflation of minus 6823 ETH on Jan. 10, according to Delphi Digital data.
The independent research firm wrote in a note that when January’s ETH emissions are compared to previous months — a trend of net burn is observable.
Ethereum Burning Intensified In January — Is The No. 2 Crypto About To Chart A Course To Recovery?
Daily Net ETH Emissions — Courtesy Delphi Digital
“OpenSea and NFTs played a large role in propping up transaction numbers and the volatility across crypto. In turn, this led to more token movements and swaps, further increasing this month’s burn,” said Delphi Digital.
Burning implies taking a cryptocurrency out of circulation. The process is done by sending coins to a wallet that cannot be used for transactions.
Wrong. EIP-1559 is expected to burn most of Ethereum's transaction fees in the future, significantly decreasing the coin's inflation, currently standing at about 4%.Crypto, so valuable, it has to be destroyed.
The amount of Ethereum (CRYPTO: ETH) burned soared in January leading to expectations of the lowest emission month.
What Happened: Ethereum burns rose this month resulting in the largest daily deflation of minus 6823 ETH on Jan. 10, according to Delphi Digital data.
The independent research firm wrote in a note that when January’s ETH emissions are compared to previous months — a trend of net burn is observable.
Ethereum Burning Intensified In January — Is The No. 2 Crypto About To Chart A Course To Recovery?
Daily Net ETH Emissions — Courtesy Delphi Digital
“OpenSea and NFTs played a large role in propping up transaction numbers and the volatility across crypto. In turn, this led to more token movements and swaps, further increasing this month’s burn,” said Delphi Digital.
Burning implies taking a cryptocurrency out of circulation. The process is done by sending coins to a wallet that cannot be used for transactions.
Actually the inflation rate is now 1.4% after EIP 1559.
Watch The Burn: EIP-1559 Real-Time ETH Burn Visualization for Ethereum
Watch Ethereum burn ETH in real-time, per block, as an ultra-sound money, creating a sense of deflation. Due to the new protocol changes, EIP-1559.
watchtheburn.com
Ethereum 2.0 Full Upgrade Will Prompt a 1% Annual Deflation Rate
A transition to the proof of stake(PoS) consensus mechanism through Ethereum 2.0 will prompt a 1% annual deflation rate on the ETH network.
blockchain.news
Ethereum’s annual inflation rate of nearly 4.1% has been reduced to 1.4% by the burning mechanism introduced by the London Hard Fork or EIP 1559 upgrade that went live in August.
Therefore, LuckyHash speculates that a complete upgrade to Ethereum 2.0 will further reduce the inflation rate, prompting deflation by attaining a negative number.
The crypto service provider added that the annual issuance of Ethereum rises in tandem with the number of pledges based on ETH’s economic model.
A recent report by the Ethereum Foundation acknowledged that a merge to Ethereum 2.0 from the present proof of work (PoW) is expected to happen in the second quarter of 2022, even though the ETH 2.0 deposit contract launched in December 2020 has been showing the viability of the PoS consensus mechanism.
The PoS framework takes a different approach because validating blocks depends on the amount of ETH staked, given that it is used as collateral against dishonest behaviour.
Meanwhile, Microsoft’s director of digital transformation, Yorke Rhodes, believes that Ethereum will be the decentralized app store in 2023. He added:
Therefore, Rhodes trusts that Ethereum will scale through rollups and updates to become the flagship marketplace of Web3 in two years.
Can you provide a link please? Thank you.
and the nation state game theory continues
you'd have to become savvy with swapping networks, b/c it looks like most of the rates are not on ETH chain.
Here's a few on Fantom, but they are not single stake ETH options, you'd have to pair them...for instance:
Beefy Finance - ETH/DAI = 18.78%
SpookySwap - FTM/wETH = 51.18%
PaintSwap - The next evolution NFT marketplace and DeFi exchange on Fantom - FTM/wETH = 95%
If you are already holding FTM as a longterm bag, then put up equal amount FTM/wETH on spooky, and you make 51% APY (which is variable btw). You can choose what you are paid in as well i think.
There are a ton of places on Fantom like this. I'm earning around 140% for FTM/USDC, getting paid in BRUSH....but you can sell it daily and convert it to whatever token you like if you wanted.
the ETH/DAI pair has a much lesser APY% b/c DAI is the stable coin and a lot of people are in stables atm.
Biden administration prepares national security memorandum to regulate crypto: Barrons
Jan. 27, 2022 4:05 PM ETBTC-USD, ETH-USDBy: Max Gottlich, SA News Editor113 Comments
Chip Somodevilla/Getty Images News
- As a matter of national security, the White House is preparing to reveal an executive action that would task government agencies with forming a regulatory framework for cryptocurrencies, a person familiar with the matter told Barron's.
- The memorandum, which is expected to be introduced in the next few weeks, "is designed to look holistically at digital assets and develop a set of policies that give coherency to what the government is trying to do in this space,” the person told Barron's.
- The State Department, Treasury Department, National Economic Council, Council of Economic Advisers and the White House National Security Council would be involved in the initiative, Barron's notes. Agencies would be given three to six months to develop proposals, and the White House would act as a policy coordinator.
- Towards the end of November, U.S. federal regulatory agencies released its "crypto sprint," which provides more clarity on the legality of certain crypto-related activities.
- In the wake of regulatory tensions evolving around digital assets, bitcoin (BTC-USD -1.9%) slides to $35.7K intra-day and ethereum (ETH-USD -3.3%) drifts lower to $2.3K.
- Recall when the White House wanted to clamp down on crypto crimes with a recently formed task force.
2010: No one uses it
2011-2012: Only cypherpunks use it
2013-2014: Only criminals use it
2015-2016: Only nerds use it
2017-2018: Only speculators use it
2019-2020: Only small firms use it
2021: Only small countries use it
2022: Matter of US national security
2011-2012: Only cypherpunks use it
2013-2014: Only criminals use it
2015-2016: Only nerds use it
2017-2018: Only speculators use it
2019-2020: Only small firms use it
2021: Only small countries use it
2022: Matter of US national security
When you set interest rates at zero and set the printing presses on max, shit happens.
A better way has been let out of pandora's box. It cannot be stopped or put back in. It can only be adopted. The people/governments/countries that learn that first will profit the most.
I've been surprised at the strength of the crypto market with every bank and market analyst tripping over each other to "out hawk" one another.
The bearishness is on a level I haven't seen since covid lockdowns began.
From a totally normal and to be expected 10% correction in S&P.
Bitcoin tipped off the markets that a correction was going to happen a little over a week before it began, it's literally leading equities, that's real power.
Volume has been very light... never short a dull market.
I was waiting for a volume flush to the downside, but with such hawkish tones I'm thinking we see volume flush to the upside now.
The bearishness is on a level I haven't seen since covid lockdowns began.
From a totally normal and to be expected 10% correction in S&P.
Bitcoin tipped off the markets that a correction was going to happen a little over a week before it began, it's literally leading equities, that's real power.
Volume has been very light... never short a dull market.
I was waiting for a volume flush to the downside, but with such hawkish tones I'm thinking we see volume flush to the upside now.
No, countries can and have, banned it. It is definitely the wild west right now. The USA is definitely giving crypto room to run and evolve.
Maybe Warren should disclose how much energy she's using too. The left has driven the cost of energy up so much that they now have to police how much is used?
oilprice.com
Is Crypto Mining Driving Up Power Costs For U.S. Consumers? | OilPrice.com
A group of Democratic lawmakers, led by Senator Elizabeth Warren, demand that six major cryptocurrency mining companies detail their high energy usage
oilprice.com
Destroying encrypted 0101010101010 apparently makes the remaining 0101010101010 more valuable. It's like a strange tech cult.
Benzinga
© Provided by Benzinga$1B Worth Of Ethereum Burned In 30 Days; 95% Net Reduction Makes It 'Hardest Money In The World'
In the last 30 days, $1 billion worth of Ethereum (CRYPTO: ETH) has been “burned” or removed from circulation forever.
What Happened: According to data from WatchTheBurn, over the last month 387,575 ETH have been burned.
Analysts at Delphi Digital attributed the significant amount of ETH burned in January to large NFT transactions on OpenSea.
Why It Matters: While the amount of ETH burned has been on the rise, its net issuance has dropped to just 19,719 ETH or $50 million in the last month.
This corresponds to a 95.16% net reduction of ETH from circulation.
“ETH is ultrasound money when fee burn exceeds issuance,” commented Ethereum researcher Justin Drake earlier this year.
Now, Ethereum’s rate of inflation has fallen lower than that of Bitcoin (CRYPTO: BTC) and industry watchers expect ETH’s inflation to turn negative in the next 6 months.
The blockchain’s upcoming transition to Proof-of-Stake (PoS) is also expected to play a part in its evolving supply dynamics. Currently, Ethereum miners are forced to sell ETH to sustain the capital-intensive operation that is Proof-of-Work (PoW) ETH mining.
The transition to PoS would effectively mean the end of ETH mining operations entirely, with miners being replaced by validators.
“Note that the pace of ETH issuance is important, as miners have tended to be forced sellers in the past to pay for the operating costs on their equipment,” stated analysts from Coinbase Global Inc (NASDAQ: COIN) in a report.
“Thus, replacing them with (fewer) validators could reduce ETH issuance by up to 90% and the amount of ETH sold on exchanges by at least 30-50% by our estimate, as less computing power is required compared to PoW.”
Price Action: As of Monday morning, ETH was trading at $2,550, down 2.63% in the last 24 hours.
Benzinga
$1B Worth Of Ethereum Burned In 30 Days; 95% Net Reduction Makes It 'Hardest Money In The World'
Samyuktha Sriram - Yesterday 7:44 AM
© Provided by Benzinga$1B Worth Of Ethereum Burned In 30 Days; 95% Net Reduction Makes It 'Hardest Money In The World'
In the last 30 days, $1 billion worth of Ethereum (CRYPTO: ETH) has been “burned” or removed from circulation forever.
What Happened: According to data from WatchTheBurn, over the last month 387,575 ETH have been burned.
Analysts at Delphi Digital attributed the significant amount of ETH burned in January to large NFT transactions on OpenSea.
Why It Matters: While the amount of ETH burned has been on the rise, its net issuance has dropped to just 19,719 ETH or $50 million in the last month.
This corresponds to a 95.16% net reduction of ETH from circulation.
“ETH is ultrasound money when fee burn exceeds issuance,” commented Ethereum researcher Justin Drake earlier this year.
Now, Ethereum’s rate of inflation has fallen lower than that of Bitcoin (CRYPTO: BTC) and industry watchers expect ETH’s inflation to turn negative in the next 6 months.
The blockchain’s upcoming transition to Proof-of-Stake (PoS) is also expected to play a part in its evolving supply dynamics. Currently, Ethereum miners are forced to sell ETH to sustain the capital-intensive operation that is Proof-of-Work (PoW) ETH mining.
The transition to PoS would effectively mean the end of ETH mining operations entirely, with miners being replaced by validators.
“Note that the pace of ETH issuance is important, as miners have tended to be forced sellers in the past to pay for the operating costs on their equipment,” stated analysts from Coinbase Global Inc (NASDAQ: COIN) in a report.
“Thus, replacing them with (fewer) validators could reduce ETH issuance by up to 90% and the amount of ETH sold on exchanges by at least 30-50% by our estimate, as less computing power is required compared to PoW.”
Price Action: As of Monday morning, ETH was trading at $2,550, down 2.63% in the last 24 hours.
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