Dankrad Feist

@dankrad

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Staking isn't just the reward you get for participation -- you also have to believe in the asset. So indeed, most stakers don't directly think about "real yield = nominal yield - dilution", but they think about "how bullish am I about the base asset + nominal yield". The dilution gets baked into the former.

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"Stakers don't care about real yield, they only look at nominal yields" Why don't we all stake with Celestia and Polkadot then?

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Vitalik Buterin

"Basic rollup scaling" milestone achieved! Next milestones are likely verkle trees and history expiry.

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Amazing work on shipping Dencun! Can't believe how smooth it went. Great work by all Ethereum client teams!

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The plan is to migrate a few 1000 keys per block over a few weeks.

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I think that would be a fair option if the transition could be done in <1 hour. However, as it takes over a day it's unfortunately not realistic to do this.

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I would love to have more of a community call in addition to ACDs, where members can give their inputs on their priorities. I think this is completely missing at the moment. But just "extending the timelines" is precisely not what we should do.

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I don't have an answer. But look at optimistic rollups with a typically 7 day fraud proof window. Current expectation is that in the face of a censorship attack, Ethereum could fix this and fork in that time span to recover. Requiring that an EIP needs "x week community consideration" seems wrong in this light.

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I'm very sympathetic to the community having *much more* say in HF decisions, I really don't think that they should be left to core devs. OTOH, I also think that we need to be able to coordinate much quicker than we do today, on the order of days not weeks, in emergencies.

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I think this is a very interesting question. I was very ambivalent about this EIP myself -- initially I was against it but changed my mind as it being the best thing to do right now, precisely because the hard fork process is very slow and drawn out.

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I think the price of stability tends to be high in bear markets. Loss of confidence means lower appetite for leverage. I don't expect such a high loss in a more average year.

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I wrote a new blog post explaining how RAI works, from the perspective of supply and demand for stablecoins: https://dankradfeist.de/ethereum/2023/01/31/rai-crypto-experiment.html

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Ethereum research will host a reddit AMA on Jan 11 at 1pm UTC https://www.reddit.com/r/ethereum/comments/107cqi8/ama_we_are_ef_research_pt_9_11_january_2023/

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Interesting examples. What's the deeper reason if there is one? I would guess many of us find communities built around a single principle somewhat repelling, which may be a protective mechanism to stop us from joining dangerous cults?

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Love it here. Hope the culture stays friendly!

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Testing testing 123

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