[ANN] Ethereum: Welcome to the Beginning

[tbct_mt2]

How about this?

https://decrypt.co/80222/more-ethereum-has-been-burned-than-minted-past-24-hours

It will be one of reasons to bring a new FOMO wave to Ethereum.

Honestly, I see two opposite things from this record. The gas price is too high and the upgrade does not solve it for small Ethereum users. The expensive gas price and transaction fee contribute to high burned ETH and causes the deflationary day.

I don't know how it can happen if transaction fee is low. Will it be included in the algorithm of Ethereum? How long the deflation can last?

Does it only occur as side-effect of expensive transaction fee?

[1713860635]

1713860635

[Branko]

How about this?

https://decrypt.co/80222/more-ethereum-has-been-burned-than-minted-past-24-hours

It will be one of reasons to bring a new FOMO wave to Ethereum.

Honestly, I see two opposite things from this record. The gas price is too high and the upgrade does not solve it for small Ethereum users. The expensive gas price and transaction fee contribute to high burned ETH and causes the deflationary day.

I don't know how it can happen if transaction fee is low. Will it be included in the algorithm of Ethereum? How long the deflation can last?

Does it only occur as side-effect of expensive transaction fee?

I'm baffled, why we have so many layer 2 solutions for ETH; like OMG or MATIC, yet they seem underutilized,
while everyone is complaining about high fees

[Inagame]

I'm baffled, why we have so many layer 2 solutions for ETH; like OMG or MATIC, yet they seem underutilized,
while everyone is complaining about high fees

Because they are worse centralized shit solution, and if you like this high fees so much than enjoy them, it's internet of money  

[r_victory]

I'm baffled, why we have so many layer 2 solutions for ETH; like OMG or MATIC, yet they seem underutilized,
while everyone is complaining about high fees

I believe that in many cases they cannot opt for one or the other, for example, if you have ETH on an exchange, to withdraw you will have to pay the network fee, if you convert to another chain, you will have to pay the fee as well. Either way, you will have to pay for the transaction in ETH (Gas). I think most complaints refer to cases like this.

[tbct_mt2]

The current ETH emission rate is 1.9 ETH/ min. The Burn rate (24h) is 7.12 ETH/ min, (1h) is 6.79 ETH/min.
Source:
https://etherchain.org/burn

Since EIP-1559. Rewards: 443,292 ETH; Burned: 222,861 ETH
Source: https://watchtheburn.com/

If the burn rate maintains like that, total burned will overtake total rewards since EIP-1559. Is it what Vitalik team aim at, only create a deflationary era but transaction fee is still expensive.

[r_victory]

For a moment I thought I was dreaming, but it's real. That was the screenshot I took, but I saw that it reached much higher values, where we are going, to the moon with Gas fees.

[estenity]

For a moment I thought I was dreaming, but it's real. That was the screenshot I took, but I saw that it reached much higher values, where we are going, to the moon with Gas fees.

this will stop people from trading, i suppose.

[Inagame]

For a moment I thought I was dreaming, but it's real. That was the screenshot I took, but I saw that it reached much higher values, where we are going, to the moon with Gas fees.

This is madness! People cant even dump eth or tokens when they want.
Just use second layer fake solution, and when that layer is full with high fees someone will create third layer then next layer, and we are going to have infinite layers on ethereum

[zasad@]

What's left before the Merge?
https://tim.mirror.xyz/CHQtTJb1NDxCK41JpULL-zAJe7YOtw-m4UDw6KDju6c
"While the general approach for The Merge is now set, there is still a long list of things that client teams need to do over the next few months. The bulk of the TODOs are tracked here,
https://github.com/ethereum/pm/blob/master/Merge/mainnet-readiness.md
and notable ones include finalizing post-merge sync protocols, setting up integration tests for the entire process, launching devnets & running them under adverse conditions, and planning for a variety of contingencies during the transition.
If you'd like to dig into the actual specs, EIP-3675
https://eips.ethereum.org/EIPS/eip-3675
details the changes that will be required for the execution-layer clients, and the merge folder in the consensus specs details the changes to the consensus layer."

[STT]

It will be one of reasons to bring a new FOMO wave to Ethereum.

It has to be benefit to actual users or its not a positive overall, the reduction in ETH is not enough to cause FOMO by itself unless the system is improved.   So far it doesn't seem like much of an improvement to me, the idea was to create less auction type pressure for higher fees but its not lowering them so something is not right.

[Easteregg69]

Garbage. You should be ashamed of yourself.

It will be one of reasons to bring a new FOMO wave to Ethereum.

It has to be benefit to actual users or its not a positive overall, the reduction in ETH is not enough to cause FOMO by itself unless the system is improved.   So far it doesn't seem like much of an improvement to me, the idea was to create less auction type pressure for higher fees but its not lowering them so something is not right.

People can't unstake coins because of fee's dumbass.


Fuck sake charity fraudsters.

PS. Have it fixed by November next year.

[moderator's note: consecutive posts merged]

[zasad@]

https://twitter.com/santimentfeed/status/1435694660907716608?
"🐳 #Ethereum is charging back, making a modest rebound thus far to $3,537. The top 10 largest whale addresses have notably  skyrocketed in supply held over the past 15 weeks, now owning 21.38% of all $ETH, the largest amount by them in 51 months. "

https://app.santiment.net/

[r_victory]

The way prices are moving, I believe that at the latest in Q1 next year ETH could reach $5000.

[Daltonik]

According to ultrasound. money, since August 5, more than 304,000 ETH worth over $1 billion has been burned. The average burning rate per minute at the moment is 5.04 ETH worth approximately $18,000.

[Inagame]

LOL Vitalik Buterin among 100 most influential people of 2021 in Time's magazine, they need to give him front page and special interview now.
I never head about many of those 100 people from the list and they have no infulence over me
https://time.com/collection/100-most-influential-people-2021/6095980/vitalik-buterin/

[Mrpumperitis]

https://www.reddit.com/r/btc/comments/pq3erc/the_testnet_version_of_our_smartbch_bridge_to/
The testnet version of our smartBCH bridge to Ethereum is ready for a test!




 WOW....So many new use cases now possible...exciting times ahead for Bitcoin Cash

[JollyGood]

Ethereum is on course to end the year c.$5000 

Who would have thought that would have been possible when the ICO took place?

[safar1980]

Ether should be 55% lower and is facing tough competition from solana and other blockchains, JPMorgan strategist says

Ether's fair value is around $1,500 based on measures of network activity, a JPMorgan strategist has said.
That's roughly 55% lower than Friday's price of around $3,470 for ethereum's token.
Nikolaos Panigirtzoglou said ethereum is facing growing smart-contract competition from other blockchains.
Source:
https://markets.businessinsider.com/news/currencies/ether-price-outlook-eth-solana-cardano-jpmorgan-blockchain-lower-competition-2021-9

[zasad@]

https://www.reddit.com/r/ethereum/comments/pliv6t/the_future_is_multichain_and_ethereum_is_at_the/
The future is multi-chain, and Ethereum is at the heart of it. Here's a map of major blockchain projects, and the bridges between them

"In layman's terms, it means that growing crypto-ecosystem blockchain interoperability is becoming more important than chains egineered for closed systems, no matter if they run parallel with other chains." (C) ajnsd619

[tbct_mt2]

https://www.reddit.com/r/ethereum/comments/pliv6t/the_future_is_multichain_and_ethereum_is_at_the/
The future is multi-chain, and Ethereum is at the heart of it. Here's a map of major blockchain projects, and the bridges between them

It is very clear that Ethereum has the solid position in crypto and other chains have to connect with ERC20 chain to build up their ecosystems and to attract crypto users from ERC20 chain.

Binance Smart Chain, HECO chain, Solana chain and more. They all have to depend on ERC20 chain for their growth. They can start with ERC20 chain before developing and launching their naive chains or they have to rely on ERC20 chain to increase their users population.