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Lefteris Karapetsas
@LefterisJP
Founder of @rotkiapp🐦, the portfolio tracker that protects your privacy. Berlin. University of Tokyo graduate. Marathon runner. software developer. birding.
810 Following    73K Followers
baited myself into writing my first article while on holidays smh
For the issuance burn argument, let's just do a coinvote of both staked and unstaked ETH and bury this once and for all. It's neither who is loudest on CT, nor the current group of core devs that gets to decide the future of Ethereum. It should the the ETH holders.
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Hey Look at me! Our AI can hack too! Pay attention to us! We are also important!
Good morning ⛅️ Wish you all a beautiful day with a 📸 of a Eurasian jay spotted on a Berlin park tree during a walk. 🇩🇪 Eichelhäher | 🇵🇱 Sójka | 🇬🇷 Κίσσα | 🇺🇦 Сойка
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We are wrapping up @rotkiapp release v1.44. This is your last chance to grab the vault rotki NFT and sponsor the release. 🥉 name in changelog 🥈 name/logo in download page 🥇 name/logo in the app itself Sponsor rotki, support privacy and advertise your brand!
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Good morning 🌞 Wish you all a beautiful and productive day ahead with a 📸 of a common blackbird seen in a Berlin park. 🇩🇪 Amsel | 🇵🇱 Kos | 🇬🇷 Κότσυφας | 🇺🇦 Дрізд чорний
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A funny detail I noticed after @StaniKulechov wrote his response to the EIP. It's not an issuance reduction, but an added burn. Which depending on your tax jurisdiction could be interpreted pretty badly if you count rewards at every epoch. As then you both get the full issuance (and taxed at it) and an applied burn right afterwards (which I guess would be a loss / spend?). Now to be fair most people I know count only rewards withdrawn to the EL for tax purposes as that's (a still complicated but .. ) the simplest way to do it. In which case I guess this would not matter. But there has also been people who wanted me to help them with taxes who insisted their tax advisors wanted income counted on the CL per epoch. Which is something pretty complex to achieve from a data retrieval perspective even today (rotki does not support this - and we don't plan to). Add that burn in there .. and oh boy. I would not want to be the guy doing that accounting.
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Ethereum has serious issues we need to handle. Both as a protocol and an ecosystem for users and developers. Issuance aint it. Everybody has already given arguments why issuance does not need to be touched. Let's spend our energy where it matters please. It's a finite resource
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Unfortunately this proposal doesn't achieve the outcome it tries to achieve and is actually hurtful for Ethereum. It caps Ethereum staking rewards to 0% when over 50% of supply staked. What this mean is that Ethereum staking yield becomes unpredictable and even fully uneconomical activity for many, which is a negative factor for any institutional buyer who would considering taking ETH position (instead of other networks with predictable cash flows). This uncertainty has a significant adoption cost. This also means unpredictable yield for solo stakers who might be even more sensitive on pricing. For DeFi, with moving to 0% reward, this essentially makes ETH borrowing strategies mostly unviable and killing ETH borrowing and yield use-cases for ETH (only reason to borrow ETH ironically would be to short it). The only way to get ETH yield would be to stake, lock into a time period (instead of instant withdrawals in DeFi) and also have hopium ETH doesn't reach 50% staked of supply. My concern is also that those who are fine with ETH beta and yield might also sell ETH for other yielding assets such as stables for yield, very common move when rates go down in TradFi, funds flowing from stables to equities but here we will have the other way around. Could be good for DeFi but not for ETH in DeFi. From my personal take, this just makes ETH less viable as an asset and restricts its potential. I hope this proposal doesn't move fwd, otherwise we see lot of people moving their interest in other networks. There are many who share the same view. Ethereum should not be punished for its growth.
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By far @binance is the worst major exchange API I have had to deal with in my life. It rate limits you & bans your ip only after a small amount of requests. It's also designed to need to be queried with A LOT of requests. Querying per market, per limited range (90 days) and then also separating everything in many different endpoints. That in combination with aggressive rate limiting makes the API useless. Users will still blame @rotkiapp for not being able to get the binance history via API even if fault lies completely on Binance. To avoid this from the next release we will force users to upload a Binance CSV and only use the API to only query recent history. Oh and if you use Binance ... just don't. There is so many other good exchanges out there.
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Good morning 🌞 Wish you all a beautiful and productive day ahead with a 📸 of a black redstart seen in Berlin. 🇩🇪 Hausrotschwanz | 🇵🇱 Kopciuszek | 🇬🇷 Καρβουνιάρης | 🇺🇦 Горихвістка чорна
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I loved POAP. Still have a huge collection, which is essentially a vault of memories of places I visited during conferencing and people I met. I also created POAPs for people that met me and they all told me how much it meant to them to have these different mementos of each of our interactions. A pity to see this all wind down. Now for some hard truths. PMF in crypto is hard. Not only because companies don't think of it early enough. But you are dealing with an extractive user base that wants everything for free. Will rebel at the slightest suggestion of a fee and when you shut down will wonder why is everyone leaving crypto. Users in crypto at some point even wanted to be paid to use stuff 😂 I respect the POAP team for what they built and the memories they created for me and my friends are priceless. Thank you POAP.
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After 5+ years, we're winding down POAP. Over the years, we: * minted millions of collectibles across hundreds of communities. * did incredible collaborations with world-class organizations - Coinbase, Amex, WMG, Bayer, and a long tail of others, including countless in crypto. * ran one of the biggest activations at Devcon, minting 8000+ collectibles over the course of a week. * built an Airport Rally to let collectors get POAPs at airports around the world. POAP meant something to a lot of people. Unfortunately, crypto's funding cycles and distribution dynamics made it hard to build a sustainable company without cannibalizing the ethos that made POAP mean something. Building on a fragile and quickly evolving stack, in the middle of an incredible hype cycle, only added to the challenges. Still, there are some big lessons I am carrying from the POAP story. First: Customer communities are the most undervalued asset a company can have. If you build something with soul, people who use it and love it will take your brand everywhere. Do not underestimate the power of customer communities. Second: Connection is still the point. It's easy to lose that thread when the conversation is about the latest bubbly tech or price speculation, but the people using POAPs at events, in classrooms, at hackathons were getting something real out of it. Third: Longevity and brand equity are the only moats left. With the time to building and shipping something new collapsing quickly, and distribution becoming increasingly an engineering problem, customers increasingly want to make sure they can trust that the things they are buying will grow and evolve with the market, without changing radically. Grateful for everyone who believed in what we were building. It's too soon for me to say what's next, but for now, I'm thinking a lot about what GTM looks like in the age of AI.
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Don't mind me, I am just setting up the mcp connection of my agent to @rotkiapp using my premium rotki sub. Now I can prompt my agent to analyze my entire financial history in any way I can imagine 🤯
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🚨 CYBERSEC SCAM ALERT A representative from "Xyrix" reached out yesterday to us, saying our sale site had a security vulnerability. What followed, was a DDoS attack with 150 million requests per second, temporarily disrupting our sale site. A person called "Nolan" reached out yesterday evening, claiming to want to disclose a "application layer related security issue". I knew pretty much that it was probably a "beg bounty" outreach, with a bs security vulnerability trying to beg for some money. But I asked "Yeah whats that", because I was curious. Then, moments later I got a notification on my phone about increased error rates on our sale backend. I investigated, and we received 150 million requests in less than 10 seconds. This brought down our backend temporarily. "Nolan" then reached out to me and said "It should have issues to load. I'll get into the details then." After I asked what they had done, they wrote this as the final nail in the coffin: """ It's possible to craft a specific POST request that causes the /checkout page to load endless, and bypass the Fastly CDN protection through that also. """ This is some next level bs, because first of all, the checkout page is a static site that doesn't do anything with a "POST" request. And we don't even use Fastly CDN. FUCK YOU @Xyrixio
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We are at the last stages of preparing and testing @rotkiapp v1.44. A monster of a release. Lots of new protocols, architecture and speed improvements etc. Don't lose the chance to sponsor it and get a vault nft. 🥉-> changelog mention 🥈 -> download page 🥇 -> icon/logo in app
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It's hard to believe it's already been 11 years. On July 30 2015 we launched Ethereum from a small scrappy office in Berlin's Kreuzberg. So much has changed since then. Ethereum has undergone so many transformations yet one thing stays the same. Ethereum is the world computer.
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Forward to community
The @rotkiapp team is tirelessly working towards our next big feature release. All the things needing user action will now be aggregated under 1 single menu with proper explanations of what each is so that you can make your history reconcile! Use rotki, stay safe, stay private!
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Only 6 hours left on this promotion. You can lock-in a year of our work at rotki for 50% off if you use the SUMMER code at checkout until today at midnight. Won't get such a chance anytime soon 🫡
At the next big @rotkiapp release, thanks to @kelsos86 we are revamping the search + filter part of rotki's history view Now context-aware suggestions will be shown to you simply by starting to type something in the search filter! Always working to make your experience better!
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