/biz/ - Business & Finance

>>26367545
you shouldn't trade you should accumulate faggot

>>26367545
>Can we have a serious discussion about Ethereum?
No, and return to Reddit.

People new to crypto don't use uniswap.

People new to crypto buy from cashapp, coinbase and paypal and don't worry about network fees.

Eferium

>>26367621
This.

Also, why are people completely ignoring the fact that ETH 2.0 has been in development for years, has already launched its initial phase, and is looking to launch the next phase late this year or next year SPECIFICALLY to fix the scalability issues? Please continue to FUD and suppress price so I can accumulate lower.

>>26367545
The problem is tha ETH's fees are based on supply-demand. The miners artificially increase the fees by chosing to execute the higher fee transactions first and people are willing to pay them. That's why the transition to POS is so important and EIP 1559 wil solve this problem for 1.0 in the near future. That's my understanding.

>>26367545
Hence there is Bitcoin SV
Which does EVERYTHING ETH does lolz

>>26367687
honestly, I wouldn't even say coinbase is for new people at this point, All I see is fucking newfags buying on cash app and Paypal, calling it fucking bitcoin stock, Luckily a lot of these fucks got shaken out with the recent drops.

>>26367545
Eth is the perfect example of the network effect, which is on etheriums side for the time being. But if they can't fix the network within the next 2 years or so, there is no way they will be able to compete. No one thought Facebook would become more popular than myspace, yet myspace had a worse product and didn't make it any better, its the same with eth, eventually a better product will overtake it if they cant fix it.

>>26367545
Because it's a shitcoin ponzi scheme with no actual use case. How the fuck can you use a currency that takes hours to resolve a transaction unless you pay >$50 in fees? Hint: you don't

>>26367545
Finally one person actually understand why ETH will not freaking go 5k and above

2.2k briefly max, even right now is wayy over price

>>26367545
Ethereum. Is. Not. For. Poorfags.

>>26367545
Arbitrum is a project using LINK which will allow eth to scale well before eth 2.0 launches.

https://medium.com/offchainlabs/scalable-low-cost-computation-of-ethereum-smart-contracts-using-arbitrum-on-the-chainlink-8985c6542d4e

>>26367545
Thinking of mining on the side with my 5700XT to pay for these fucking fees. Anyone already do this?

>>26367814
Casually followed for years, recently started buying on coinbase. Should I accumulate somewhere else or is coinbase good for accumulating to hold?

>>26367545
Why are you still using UNI when you can be using LRC with no fees thanks to L2?

>>26368694
Wasn’t mainnet supposed to be out already

>>26367545
>240 dollar trade
oh no no no no

>>26367751
Regardless. Nothing he said is untrue today. It’s fact. And I’m an ETH holder saying this. It’s a literal shitshow to use right now.

>>26369153
Blame Uniswap and the trillions of shitcoins that pop up every second causing people to fomo into "the next 1000x" and clogging the network with their retarded transactions.

Right now Eth is for holding, not trading. Make larger transactions less frequently. Mine, pool, etc.

>>26367784
This is the correct answer. Currently, poorfags (you) have been priced out.

>>26368951
Yeah they missed the original Q4 launch, now they are targeting Q1 2021, will cause a monster pump when it finally does drop

>>26369253
stfu and stack $RBC. Easy 5000x guaranteed

>>26368732
If you have a 14 of 7nm gpu with 6+ GB of vram and you aren't using it to mine ETH right now, you are either incredibly lazy or ignorant. It's $60 a month for maybe an hours worth of initial work.

>>26367621
It exists to facilitate trading, and it's the worst at what it does. I agree with OP, the fees are absurd. It's not just ETH it's all erc-20 tokens.

>>26367545
crypto isn't for you

>>26369338
>>26368412
Oh yeah, the wealthy love burning their money on transaction fees.

>>26367545
Arbitrage bots don't mind paying $50 in fees for $51 profit because it's all automated anyway. The sheer number of bots running at any given time drives gas fees up.

>>26370556
the thing is im worried about gpu degrading.

>>26371622
NOOO I NEED TO GOOOOM

>>26367545
Yeah, I'm not selling my ETH until we get to much higher prices based solely on how much it gets shilled on social media and crypto youtube. It's going to pump for that reason alone regardless of fundamentals.

But I'll be accumulating bits of all the other smart contract platforms instead of eth going forward because I don't feel so confident that ETH will stay on top forever. Isn't compound moving to its own chain now? Dot also looks comfy.

>>26371292
$50 means nothing when you can make thousands, tens of thousands, hundreds of thousands or millions

crv and snk solve this. check out andrew from yearn's twitter, they used them to do a huge trade with millions of usd for almost no gas fees

ETH tech upgrades have historically had zero impact whatsoever on price. Google it

>>26373904
the price has mooned since they launched eth 2 phase 0

>>26373944
Follows the exact same path as BTC my dude. Purely following king shitcoin just like 2017

>>26367545
>there are so many superior competitors already
no, there aren't.
Fees are low because nobody uses them.

>>26374074
its had more gains than bitcoin since dec. 1. anyway, how can you really tell the difference

>>26367545
>there are so many superior competitors
Name one

>>26374074
literally 70% up on sats since december.

>>26367545
>$240 dollar trade
if noodles like you would stop spamming the chain with dust then tx fees would actually be quite reasonable

>>26371622
it will be fine if you run it at an acceptable temp

>>26367545
>$7.40 transaction fees and $18.10 gas costs
wdym by this
But yeah, the consensus on this board is that Bitcorn and Effereum are nigger-tier. BSV and LINK are the only ones you should use

>>26367545
T. RETARD

>>26368878
sorry for the late reply anon, despite getting a lot of hate around here, Coinbase is safe and isn't going anywhere, Accumulating on coinbase is totally fine

>>26377133

This is mainly why I put my coins on there. I'm genuinely not sure why it gets so much hate on here.

>>26377304
Well, you see, a lot of anons are retarded

>>26377304
probably because of standard coinbase's higher transaction fees
I switched to coinbase pro and it's been great for my purposes

>>26377304
it crashes when there are big market moves, the fees are somewhat higher than other exchanges and the customer service doesn't really exist, but they are working on that so they say. But the nice UI and the fact that's its based in the United States, unlike a lot of the other shady exchanged like kucoin and shit like that mean it's safer for people who just want to accumulate and not worry.

>>26377537

That's a fair argument against it. I personally don't mind spending a little extra on transaction fees if it means my coins are kept in a safe place though. Seems like a fair trade to me.

Stop
Breeing
Thor

>>26377646
totally
I still recommend coinbase pro over basic, the transaction fee is a flat 0.5% for even small purchases unlike basic where you are sometimes paying 5-10% for small sums and 1.5% for larger sums

>>26367545
>I MEAN WHAT DO PEOPLE NEW TO CRYPTO HAVE TO THINK OF THIS?
I don't touch it; I buy on exchanges. I assume uniswap fees are worth it if you're trading large enough sums and know enough to make a steady profit on whatever shitcoins are only available via uniswap, but I'm not doing either of those things yet.

I'm annoyed enough at having to pay $20 to wire transfer a few thousand dollars. I'm sure as fuck not paying a similar amount for a single trade.

>>26377783

What's the payoff? I haven't looked into coinbase pro much.

>>26376779
Tell me anon, how can I use Link to buy shitcoins?

>>26377837
the payoff is that extra percentage goes to getting more crypto as opposed to being eaten up as a fee
I also like that pro has an actual price ticker and constantly updating candle chart, let's you have more control over exactly what price you are buying and selling at

>>26377837
example, on regular coinbase, you make a $20 purchase, you actually only get $18.50 worth of crypto; if you purchase $500 you get $492
with pro your $20 gets you $19.90 and $500 gets you $497
it may seem insignificant, but it adds up over time

>>26378182
>>26377948

Does it not cost a subscription fee or anything like that though? How would I even go about transferring my coinbase portfolio over to coinbase pro?

>>26367545
W/e dude, kill urself, just stop playing if you suck/dont like

i think for companies when something is deemed too expensive they will search for alternatives. i dont see the same way people think ethereum should only go up, likewise i think bitcoins value will stay around 30k-15k

but right now ethereums value is buying coins that are nowhere else, so its kind of a middleman in a way.

>>26378259
no subscription
the interface is setup to transfer directly from basic to pro, just go to deposit and it will guide you through it
if you made recent transactions on coinbase you may have to wait awhile before they are available to transfer to pro
in the meantime, you can just make any future purchases on pro to save on transaction fees; deposit from your bank the same way with coinbase
your account on coinbase should let you login to pro, same username and everything

>>26377837
Coinbase is set up to easily take money from when boomers search "BITCOIN STOCK BUY" and click the first thing that comes up. Coinbase pro is for people that go one level deeper into crypto markets

>>26367545
Uniswap is not for people who do $240 trades you fucking retard. All you poorfags can fuck off to a "superior competitor" and do $100 trades, the big players don't care one bit.

>>26378460

Thanks, anon. I'll look into it. Sounds like a better deal for sure then.

>>26378531
indeed
I too fell for the normie trap, wish I found out about pro sooner; would've had that much more crypto to my name

>>26378552
i made the same mistake. M _ I _ S _ T _ A _ K _ E you fucking clown.

>>26371622
I mined eth back in 2017/18.

16 cards total:

2 x 1070
2 x 1080
6 x 480's
4 x 580's
2 x 570's

The cards were either bios modded or had big memory overclocks. Not a single card died.

The only problem I had was one fan failure on a 570, and a GPU riser shorted out which nearly burned my shit down.

GPU degradation is a meme.

>>26378623
Pro also lets you do indefinite limit orders; I put in a good till cancelled last night for btc at 29k and it filled

>>26378709
*pcie riser.

fuck.

>>26367751
>ETH 2.0 phase 2 in 5-7 years
>ETH 2.0 phase 1.5 in 3-5 years

>>26378713
yeah, the level of control pro gives over basic makes it completely worth it for anons relatively new to crypto
much more information and tools at your fingertips

>>26367545
dont use uniswap.... uniswap is a scam, and you will find that they will also tell you you need to pay again because their first transaction fee is only to approve the transaction, they then require another transaction fee after to actually do the transaction lol uniswap is a scam, dont use it.

ALL YOU FAGGOTS DO IS CRY ABOUT GAS FEES WHEN THERE'S L2S WITH FULL DEXS BUILT ON THEM AND YOU CAN AVOID ALL OF IT AND THEYVE BEEN RUNNING FOR YEARS NOW AND ARE GHOST CHAINS BECAUSE YOU FAGGOTS REFUSE TO USE THEM

>>26378933
YOU CAN BRIDGE ANY ERC YOU WANT ONTO THE XDAI CHAIN AND HAVE .0000000002% FEES. YOU CAN EVEN GAMBLE ON SHITCOINS USING A UNISWAP CLONE ON THE XDAI CHAIN AND PAY 0.000000000002% FEES. YOU CAN BRIDGE THE BACK TO ETH WHENEVER THE FUCK YOU WANT FUCK YOU FAGGOTS STOP BEING SO GOD DAMN DUMBBBB

>>26367545
I wanted to buy some RBC but I realised I'd have to put more in just to get the amount of RBC I wanted. It's just not smart.

>>26379069
gtfo

>>26367545
Only niggers trade for less than 1k...

>>26368064
>no use case
wat

>>26370879
>It's not just ETH it's all erc-20 tokens.
kek newfren doesn't understand what an erc20 is.
>>26378933
>>26379069
nobody cares about l2. soon you'll be able to use defi for 0.01 avax fees.
avax is coming to eat your lunch.

>>26370879
>It exists to facilitate trading
jesus christ
normalfags are unironically retarded

>Try to swap 33k ALBT to LINK
>650 ALBT fee or $434

These guys are fucking thugs

>>26380408
avax is functionally the same as an ethereum sidechain. good luck getting people to move over
we've literally been over this in 2017. back then it was the ico bubble
>people will move to eos/tron/waves/gbyte
sure worked out well for you
>b-but this time it will be different
yeah, different in the sense that unlike icos which are fairly insulated from each other, all of defi builds on other defi protocols. ergo the inertia is even stronger

>>26367545
The whole concept of paying gas on a transaction is completely fucktarded and is the reason I dont invest in efferiums and all my ERC20 shit is on exchanges

>>26367545
0.5Eth to cover gas fees for a weeks swinging right now. Well worth the cost if you make food picks

>>26380801
eos tron etc are shitcoins.
there will be a bridge eth-avax soon. people stay on eth because they were early investors and dont want to dump their bags

>>26368878
From what I read on here, Coinbase is one of the best exchanges to withdraw from in the event that you make crazy money because they have good relations with a lot of major banks