/biz/ - Business & Finance

just wait for 2.0 bro

>>27131894
free fee market

just wait for L2 bro

its almost as if bsv is the only thing that scales while retaining low fees

If that's Bancor then a front end issue is showing a cost that is 2x what you actually end up paying.
Bancor on Arbitrum is going to be a game changer.

>>27131894
think its bad now? wait till someone comes up with some new game or app and fucks the network

>>27131894
maybe don't even bother adding liquidity for $60
what the fuck are you thinking

>>27131894
HBAR can actually scale.

imagine how much liquidity will flow into ETH once gas issues are dealt with bros

>>27131894

>>27131894
because it will break ath today, gas fees are priced in already

I was trying to withdraw ETH from the Aave lending pool earlier tonight and apparently I have to buy $50 worth of ETH just to cover the gas fees associated with the transfer. What a complete crock of shit.

>>27132083
it's metamask

>>27132090
I'm retarded anon that's why I'm on 4chan
I just wanted someone that tasty 1500% yield on BAO but I'm also poor and stupid
I split my money 50/50 BAO/ETH and then BAO doubled so after gas fees I could only theoretically stake ~20% of the BAO
so no I will not actually be doing it

>>27131894
Fantom

>>27131894
Just use loopring. it doesn't cost much to move to layer 2. Costs about .25% of what you are sending per tx. With small amounts that you are using, loopring is the only way.

>>27131983
We've been expecting 2.0 for almost a year now. Network effects are great but if it doesn't work, it doesn't work. You can't try and market defi if the main network it's based on isn't functional at all right now.

>>27132035
This

>>27131894
Wait untl you want to do staking, lol

ETH is just speculation like TSLA

>>27132327
I spent 80 just to stake. Gas fees are terrible. But look at this.

BAO will migrate its pools in one month more exactly. Then, you will have Xdai, where transactions are very cheap. You can stake now and get pretty APY or wait. I think it is worth to spend. By staking i have already won 160USD in 3 days .... and that is in one of the worst pools, with less than 1000% APY.

>>27131983
2.0 and Optimism as a whole are a fucking meme. No one is going to actually enjoy using optimistic roll up for many reasons. One will be that there is going to be many different instances of Optimistic rollup. They won't easily be able to transfer, AND it could take up to one week to remove funds from the roll up, and there are security issues. Most of the risk of the security problems lies with the validator though.

Pretty much everyone agrees that long term that ZK roll up is better. Vitalik wrote pic related in his latest write up:
https://vitalik.ca/general/2021/01/05/rollup.html

So just do yourself a favor and start embracing ZK rollups now. They have instant withdrawal, and only take a few block confirmations to get on. Loopring is already here, it works, liquidity is growing, volume is growing.

To top it all off, it is a lot harder to fork Loopring than Uniswap (which already got forked into sushi), because the layer 2 aspect of loopring makes it much harder to fork the entire thing.

All you need for transfer/swaps/LP is already on zk rollups. Optimism adds a few things, but it sucks so bad from a UX perspective no one is actually going to use it. Most of ETH's traffic comes from uniswap, so once transfer move to layer 2 you will see fees go down drastically.

>>27132469
nobody is trying to market defi except scammers
the idea the average smoothbrain should be actively trading shitcoins on pow L1 is purely a con. you can go as far back as 2016 and see the eth vision always involved pos and sharding. expectations for these solutions were optimistic at the time, but as soon as 2017 they were revised to longer timeframes and included signed messages, sidechains and so on
you normalfags throw your lifesavings into stuff without even taking a couple hours to research, all because you see number go up and you fomo behind your favorite youtube guy

>>27131894
U must be a complete newfag to crypto I assume?

>>27131894
Now you know. Don't play with ANY pump that is ERC-20 unless you got alot of eth

>>27132477
So try to do a dex on it good luck..

>>27132090
Based

>>27131894
just don't be poor

>>27131894
Wtf it says 200 bucks for a single transaction on my metamask

>>27132850
There's plenty of good reasons for serious people to at least try proof of concept on L1 and the institutions do care about this. Let's say we are two years down the road and another protocol has already achieved everything ETH sought to but we are still waiting on 2.0?
Devs will be ready to move on by then.

18$ gas fee is literally not much

if you aren't trading at least a 1000$ worth then unironically get a job so you can enter from a 4 figure hell position
it filters the normies and the extremly poorfags that would get rekt by a 500$ loss

>>27132248
Based xsnchan.

>>27132850
Finally some sense. Overhyped, not paying off, now the gas fees and still these chumps are like "But MY coin..." and "But THIS time..."

Is it worth it to just put some BAO in a wallet and let it sit?
Or is it pointless without staking?

>>27131983
yeah bro, just wait 4 years for 2.0

>>27132090
when people are adding liquidity and paying 50% in gas fees just to add, we must be in a bubble lol, I wouldn't add less than 10k in for any liquidity pool

ethereum is fucked if layer 2 is its only out. either l2 kills its smart contract interoperability, or it grows and ends up being so large it takes away from ethereum and ether itself. ethereum needs sharding, it's only competitive advantage over bitcoin is base layer smart contracts, if it needs l2 to scale and survive its days are numbered.

(and no, no altcoin is going to"kill" ethereum, theyre all too late for that, if ethereum's going to die its going to be down to a failed 2.0 transition or relying on l2)

>>27132850
>you normalfags throw your lifesavings into stuff without even taking a couple hours to research, all because you see number go up
hey, it worked in 2014. gave me two glorious years as a NEET

>>27133332
didn't actually add if that makes you feel any better

>>27131894
CARDANO AND ALGORAND ARE GOING TO EAT THE MARKET THIS YEAR.
TOP 3 AND TOP 4. 100 Billions each.

YOU READ IT HERE FIRST

>>27133679
Eth is fucked either way.
There are coins with offramps to move entire Erc-20 tokens offline and onto their own POS chain with a click.

>>27131894
This is why it will never skyrocket like BTC has so far.

>>27132035
my BSV is stuck on my ledger using electrum... good times

>>27133805
yeah and nobody is doing that, thats the point.

ethereum is nothing like bitcoin, and can't rely on bitcoin's scaling technologies like layered networks. ethereum is only valuable because of its base layer, and nobody wants to move away from it regardless of how much cheaper it is elsewhere. either sharding works or l2 dominates which means smart contracts on bitcoin is the endgame.

>>27132035
I agree. I am of the mindset that if you are into BTC and don't have a 21 BSV stack, you are just not reading about what is happening.
BSV could surprise everyone and it's is being artificially held down.
It's a cold war.

>>27134046
>yeah and nobody is doing that, thats the point
Yeap, I agree, but fees are getting to the point that they MIGHT be doing it soonish. Not the established ones but that means nothing really. Look at the charts from 2017. Half the coins are gone.

I'm ALL out of ETH for a long time now and I am in Crypto since Jan 2015. Not an oldie but enough to see that fees are a HUGE fucking deal and so is offloading your work to sidechains and layers. No thanks. Can it work ? Sure 100% but I'm not their guinea Pig.

>>27134294
fees are a huge deal for people moving tokens around and doing nothing else. theres billions being made on ethereum's defi nonsense, and nobody is going to be stupid enough to leave that for a deserted platform.

sidechains and layers are effectively a slow treadmill to complete bitcoin dominance. if you push enough activity onto a sidechain the main chain loses value until its simply not secure enough for the layered network's value,and it has to settle elsewhere. this is accelerated with none of ethereums l2 networks using ether (why would they when ethereum had a massive premine for themselves?). sharding is different, its multiple base layers, and the only hope for any independent smart contract platform at this point, barring new cryptography

>>27134294
>I am in Crypto since Jan 2015
you have no excuse for not being a millionaire

>>27134536
So are you a BCH proponent ?

>>27134865
why would i be? bch has already failed.

>>27134931
Just asking.

>>27133106
>Let's say we are two years down the road and another protocol has already achieved everything ETH sought to
that tune has been sung since 2017. sure worked out well for eos, tron, iota and the like
eth sought to be a DECENTRALIZED protocol. all current copycats forgo the "decentralized" part in some manner to boast higher tps, lower fees, what have you
there needs to be a technological magic bullet here, not merely sleight of hand. no doubt you can convince the gullible to invest in a glorified database owned by VCs. again, we're circling back to con artists
the average developer has no interest in working to increase the capital of random rentseekers all over the world, unless he's financially compensated for doing so. on the other hand there are clear ideological motives tied to open source ethos and all for people contributing to ethereum and bitcoin. any would-be contender to the throne needs to approach this from the ideological angle
the bull case for capital over morals lie in the ability of capital to subvert and convince they are about morals. it's still an uphill battle that requires significant amounts of capital. unlikely any of the current crop of shitcoins have the ability or even the vision to engage in a manipulation campaign of this magnitude
in plain terms, i'd sooner bet on libra than cardano if i were inclined to bet this way

I can't understand why the fuck people are still using this erc20 tokens when Lumens exist?
It's almost instant without any fees, the only downside are most company are still sticking to erc20 tokens
I even still remember the nightmare of using 2017 EtherDelta
It's like people are still using steam vehicle while EV exist

>>27132850
Cough*radix*cough

>>27133302
I feel like I did ? I remember we where going to stop mining with gpu.

>>27131894
Ethereum devs dont want it to scale. They are fucking throttling this shit on purpose. They could fix it in a few days.
But they realized from empirical evidence that throttling a chain without any reason will skyrocket the marketcap of it.

>>27137406
running an ethereum node is already incredibly difficult, bumping the block size up will decapitate it, they need sharding, anything else simply won't work for an arbitrary code blockchain like ethereum

>>27131983
>>27131894
LOOOOOOOOOOOOOOL