BC CRYPTO
Saved by @Mollyycolllinss

1/ ERC-20 token standard approve() has caused an unnecessary cost of $53.8M for #Ethereum and #DeFi users

This is bad. Continue reading why and how to avoid this in the future.

👇👇👇

 2/ Before you go all rage on the flaws of my analysis, please read the whole Twitter thread for disclaimers and caveats.
3/ approve() is an unnecessary step of ERC-20 tokens when they interact with smart contracts.

You know this because when you do a Uniswap trade you need press two transaction buttons instead of one.
4/ Why there is approve() - you can read the history in this Twitter thread

https://t.co/ZHXzPBbqJJ
5/ I queried all approve() transactions on Google BigQuery public dataset and calculated their ETH cost and then converted this to the USD with the current ETH price.
6/ These queries were made possible to awesome @EthereumETL team. They have created Google BigQuery dataset from real-time blockchain data. You can query over terabytes of Ethereum data FOR FREE.
7/ Here are instructions on how to execute your own queries:

https://t.co/YnK1p8u75n

(But links are outdated because Google Cloud has new UI)
8/ Total transaction on #Ethereum blockchain: 989,461,092

Woo! One billion transactions will be done in a few days!
9/ Total ERC-20 transfers(): 304,382,558

Includes only Externally Owned Accounts, EOAs.
10/ Total ERC-20 approves(): 14,921,106

Includes only Externally Owned Accounts, EOAs.
11/ The gas cost ERC-20 approves():

41327.870139658684 ETH
12/ Here is my query

https://t.co/FqNWBAxjwt
13/ You can query Ethereum transactions that call a particular smart contract function by the 4-byte signature of the function that is 1st parameter of tx data field.
14/ Binary function signatures are 4-bytes keccak256() hash of the @solidity_lang signature string. Here is an example:
15/ If you are a @solidity_lang or Vyper developer, consider ditching ERC-20 and include alternative token standard in your next token.

Alternatives for ERC-20 include:

ERC-777
ERC-667
ERC-827
ERC-223
(did I miss any?)
16/ Most of the new token standards, like ERC-777 are backwards compatible and work with ERC-20 enabled centralised exchanges.

Centralised exchanges do not need to do anything to support these new, better, token standards that make smart contract and #DeFi interactions safer.
17/ Or let's put it this way...

Every time someone creates a new ERC-20 token, hundreds of thousands of dollars die.

Let's actively demanding non-ERC 20 tokens from developers.

And if that does not work I suggest we start punching ERC-20 developers to face over the internet
18/ Newer token standards may "increase the attack surface", but in practice, this has not been a problem for high-quality #DeFi projects since 2018 or so.
18/ Note that raw approve() cost calculation comparison to newer token standard is not 1:1.

Newer token standards need some similar mechanism to pass user data as the part of the transaction, but this cost is lower compared to additional approve() tx.

Prove me wrong.
19/ FIN

CC @dmihal @FrancescoRenziA @abcoathup

Now I am going to climb the mountain, get fresh air and visit monkies

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Will start this thread with a disclaimer. I have never invested a rupee in cryptos 😀

But I have studied bull and bear cycles and financial bubbles extensively. Saw 1992, 2000, 2008 with own eyes. The first one as a novice, the next two when I knew to analyze

The amount of chatter I am seeing in friends, family and social media about cryptos has gone through the roof. For everyone, it's a dream to make 100x or even 1000x easily. Basically, become stinking rich easily
( it never happens )

In any financial bubble, the top is made in extreme speed and violence. The distribution happens on the way down. Unless one saw the rates of 65k on bitcoin, one wouldn't buy at 30-35k or 20k. That 65k is an anchor point which leads to greed

During the tulipmania, a single piece of tulip reached a price of $750,000 in today's money. When we see that history, we think "what idiots". But consider this, as of now meme coins generated by someone in their garage are being traded at absurd prices


Then there is this joke called NFT. A piece of "digital art" basically made by someone on their computer ( who is not even a known artist) are being sold for millions of dollars
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Here's my 2021 Crypto Strategy:

Note: Not a financial advice. It is just my opinion after doing my own research (#DYOR). I'm a complete newbie btw.

1. Dollar-Cost-Averaging (DCA) for these 6 coins (HODL)
- Bitcoin (BTC)
- Ethereum (ETH)
- Polka Dot (DOT)
- Cardano (ADA)
- Binance (BNB)
- Litecoin (LTC)

I choose these 6 bcs they are all TOP 10 Coins, they have the biggest market cap which means less risky than other coins.


DCA means I'm going to topup for all of these coins everytime ada duit lebih/dapat gaji.

But I will only buy when price dip / during correction

How to know when price dipped?

I use TradingView (free version) - guna RMI and Stoch indicator, if it touches the lower line it means it have been oversold - under 4h timeframe (because I'm a long term investor). This is to avoid buying at the top.

For example:

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Go to 1-4 hour chart.

Use the following EMAs.
13,21,50,180.

Look for a period of consolidation and
13>21>50>180.

Wait for a pull back to 13EMA.
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@huizengard_
[BIG THREAD] BitChute is a video-sharing site growing in size after an exodus of upset conservatives from YouTube. Like similar “anti-censorship” platforms, it also is riddled with a disturbing amount of hateful content and blatant disinformation.


Around the time of the Capitol riot, interest in BitChute skyrocketed. It continued to rise as Donald Trump’s channel had videos removed, was suspended, and then finally banned. Although he has yet to arrive on BitChute himself, his followers have moved on from YouTube.


BitChute founder Ray Vahey has called the platform “pro-free expression”, accusing sites that censor their content as building echo chambers that serve only to exacerbate problems. What he fails to recognize is that his own creation has become one itself.


wo massive trends on BitChute are anti-Covid vaccine and pro-Nazi/anti-Semitic propaganda. Both break the site’s Community Guidelines. Below are examples of easily accessible and highly-viewed videos. Bear in mind the medical advice is harmful and the Nazi content is disturbing.


First, the anti-vax disinformation. “Timmy Learns About COVID Vaccines”. Safety precautions are called “enslavement” and “extortion”. Over 5k views.
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Hamza
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1. Last week, @robbietilton sold this art piece for about 17305$ on @withFND.
I saw a lot of people asking questions on CryptoArt and NFTs (Non-fungible token) to understand how it works. I'll try to explain the basic concepts on this thread ↓


2. First, you don't directly buy the art piece, you buy a token. This token is what holds the asset that you're buying, it is a unique id that is used to represent what you bought. It can hold information like the name of the asset, an URL, a description, and so on.


3. On most marketplaces, you won't have a classic signup or login form when you'll want to create an NFT or buy one. Instead, it will be asked to connect your crypto wallet.

4. Now, why bother with a crypto wallet? Couldn't we just do an app that works with dollars? This is where things get interesting: when you buy an NFT, the data is not stored on the marketplace servers.

5. When you post a picture on Instagram, it is stored on their servers. If the app is shut down, your data might be deleted. But also, Instagram could delete your content if they want to, NFTs works differently.
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Prasanna Venkatesa Perumal #temple -Gunaseelam,Near Trichy,TN #Thread

Gunaseela Mahatmyam,a chapter of Bhavishyottara Purana describes greatness of this place.

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Please add your own.

2/ The Magic Question: "What would need to be true for you


3/ On evaluating where someone’s head is at regarding a topic they are being wishy-washy about or delaying.

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