BLS

bytelines

Doesn't scale beyond 10k tps. To be fair most blockchains don't, and Hashgraph eventually will with BLS support, but that's something Avalanche already does. Time to finality is a few seconds, I believe algo has 0 but not sure how they achieve that. No anonymous hashgraph chains only the permissioned Hedera chain. Only supports solidity smart contracts

_FUCKTHENAZIADMINS_

>while citing figures like GDP and metrics only relevant to economists. changing how CPI is calculated to paint an illusion that everything is fine When did any of this happen? The statistics that matter, like real wage growth for the bottom 20% of earners, are doing incredibly good. And do you have a source on the BLS changing CPI to cover up inflation? Because the only people I've seen talking about that are conspiracy theory nutcases who think there's been 8% inflation every year since the 2000s but can't point to a single price that's risen that much.

Stunning_Skirt_7332

This cant be true. Cup says BLS so im callin bullshit

4510

It's a tier 1 data (very highly followed) so most major news outlets will publish all the details of it at the release. But the official data is released by BLS (https://www.bls.gov/cpi/). Also, just like most other financial assets, I'd expect the release to get priced in basically instantaneously so by the time you have the data in hand the market will likely have adjusted.

nomorebonks

> Why do I want to have to pay using digital tokens to use services that I can otherwise use for free already? You don't. I told you that. You don't understand how ICP works. This is not like any blockchain you are railing against. This is a solution comparable to AWS without all the AWS baggage. >All of those are poor, inferior copies of existing apps. Did you try them? They're just like any web2 experience. And they aren't harvesting my data, they are more secure than any current web2 site, and my sign ins are vastly more secure than my sign ins to any web2 platform. There is no username and password to hack. I don't have to worry about it. >And, as I said before, blockchain is not in any way "invulnerable" to hacking You don't know what you're arguing against when it comes to the Internet Computer. You aren't knowledgeable enough about ICP. As a software developer you should be balls deep in this technology. Ignoring all the talk about Bezos, and criminals, and tokens - we have two platforms for where we can build. ICP and AWS. On AWS I give over my credit card, I sign up to agree to everything they want, and I'm at their mercy at all times accepting the platform risk. I'm building on the current web2 stack which is vulnerable to new attacks every day. Malware, virus, hacks, back doors, leaked credentials, etc. It *never* ends, and will *never* stop. If they don't like my website content they shut me down. On ICP I get some cycles, get the SDK, deploy my site to the Internet Computer. The entire stack living on top of the chain and only my key can get access to that site. I don't need a firewall or anti-virus. There's no credentials to leak. There's no back door in to put malicious code into my app. Only I can get into my app. Period. Every single ICP holder would have to pass the vote with a majority to take my canister website offline. Even *more* secure is if that application is under the control of a DAO and the protocol itself. *No one* has direct access to change that application. The DAO must vote and the vote must pass, then the updates are done by the protocol. *There is no other way to make changes to this application*. This is very much an improvement over the security of the web2 stack. **There's never been any other software development method as secure as this. Period. ** It's more secure, **cheaper** (you're wrong about this), no-strings attached method of putting your applications directly onto the internet. You have no idea what you're arguing against here. There's no grift going on. The team building the Internet Computer are some of the top in their field in the world. Ex-IBM, Google, Ben "The L in BLS" Lynn worked on it, the inventor of WASM was part of this team, ETH Zurich members. You truly do not know what is going on and it would be in your benefit to learn about what ICP is. You will absolutely be hearing about it.

Cryptoboy088

im really enough with memecoin. im thinking that $BLS bloodloop are going take over with their cool gameplay (UE 5 with AAA gaming studio)

Dirtyboii77

I think next trend is gonna be of other chain than sol, like avax-c chain.. well I'm getting ready for it wid upcoming IDO of BLS (native token of Blood loop game)

Dirtyboii77

There are many great gems out there wid more great reasons to get in, like big gaming projects on the way. For example BLS of blood loop

Njaa

It indeed wasn't possible. The technology to aggregate that many nodes' signatures is a recent development in cryptography. Look up BLS signature aggregation if you're sincerely interested. Any project that had PoS before Ethereum was limited to a few hundred validators, severely limiting decentralization - not hundreds of thousands like what Ethereum has.

StonksPeasant

$100k in jan 1994 is worth $211k in jan 2024 according to the BLS. Thats slightly over 100% in 30 years are we had horribly high inflation in 2022

ilritorno

It's not difficult to find infos on the way inflation is calculated, it's not a conspiracy. [https://www.brookings.edu/articles/how-does-the-government-measure-inflation/](https://www.brookings.edu/articles/how-does-the-government-measure-inflation/) [https://www.forbes.com/advisor/investing/how-to-calculate-inflation/](https://www.forbes.com/advisor/investing/how-to-calculate-inflation/) *The BLS calculates CPI inflation by taking the average weighted cost of a basket of goods in a given month and dividing it by the same basket from the previous month.* *Prices that make up CPI inflation calculations come from the BLS’ Consumer Expenditure Surveys, which assess what real Americans are buying. Approximately 24,000 consumers from around the U.S. are surveyed by the BLS every quarter, and another 12,000 consumers maintain annual diaries of their purchases. The makeup of the basket of goods and services changes gradually over time, following the survived buying habits of consumers, but overall, CPI inflation is calculated from a pretty fixed set of goods and services.*

MinimalGravitas

For other chains there are options being developed such as XMSS, hash ladder signatures, and SPHINCS. STARK or Lattice based signature aggregation would replace BLS etc. Because Bitcoin, for better or worse, is much less versatile than Turing complete VMs it's less clear what options would be available. For SHA256, on which so many parts of Bitcoin (such as mining, identifying transactions etc) depend, the only realistic option I've seen is just the brute force increase in bit size to SHA512, which isn't very elegant and obviously increases demand on node hardware to verify blocks. For private keys, they are protected by Elliptical Curve cryptography, which will also be vulnerable to quantum computing. I'm not sure what, if anything has been proposed to replace it, so hopefully someone else can share what research is being done.

mckenzie_keith

That includes every man woman and child in the country. If you divide by the number of people considered to be part of the labor force (according to the bureau of \[bullshit\] labor statistics) it is a lot worse. As of Jan 2024, the BLS says the labor force is 167 million people (rounding off). $34 trillion / 167 million people = 204k per member of the workforce (both employed and unemployed).

ilovesaintpaul

The idea that substitution (e.g., buying soy patties instead of steak due to cost) completely masks inflation isn't entirely accurate. While it's true that the CPI uses geometric mean estimation which allows for some substitution effect (consumers substituting less expensive items for more expensive ones), this doesn't mean inflation is "faked" or not considered. Inflation datta aims to capture an average consumer's expenditure pattern and how it changes over time due to price changes. To more accurately account for substitution effects, the BLS also publishes the Chained Consumer Price Index for All Urban Consumers (C-CPI-U), which uses a different method that considers consumer substitutions between different CPI periods. C-CPI-U over the past 2 years is 19.2%. Still high. Still sucks. Nothing like the poster said above, 50%.

ilovesaintpaul

The average price of food in the United States increased 2.6% in the 12 months ended January, after posting an annual increase of 2.7% in December, according to the latest inflation data published Feb. 13, 2024, by the U.S. Labor Department’s Bureau of Labor Statistics (BLS). As recently as August 2022, the rate of inflation for food at 11.4% was the highest since May 1979. Total food inflation from 2020 to today is around 19%. That's not 50%, nor 30%. Your point is still well taken. I get it that inflation hurts, but, bro, just don't spew stuff because it sounds 'truthy' and what you experience as anecdotal evidence.

croissant_auxamandes

Plans by the original Ethereum development team made up of many people, and the actual implementation details morphing over time as a result of research by various researchers and and newer tech breakthroughs like BLS signatures. Beginning of the project.

Hitchie_Rawtin

/u/s1fro Firstly: everybody in here who's a monocoin zealot needs to see that ICP isn't trying to dethrone your coin - it's trying to augment your coin's abilities, it's a platform other chains benefit from much like Polkadot or Cosmos except more advanced and much more elegant from a UX standpoint. It's not competition as a layer 1, it's competition to the insecure and centralised ways apps currently interact with the web. Anybody remember a recent post where somebody got DNS spoofed and sent their coins to whoever managed to infect them? Wouldn't and couldn't happen on ICP. Impossible. Everything on-chain which means everything as secure as a blockchain or as secure as the smart contract on the chain. No data tracking across websites. No need for firewalls if hosting a site, no risk of snooping through your company servers from the outside - all past and future exploits dependent on vectors of attack presented by the current fractured nature of the modern tech stack rendered null and void. No risk of ransomware attacks, no hostile takeovers of sites or accounts unless they have the private key for the canister controlling the site or account (which realistically should be multisig if valuable anyway) and if somebody does manage to find an exploit in the contract your site is hosted within their hack will be be restricted to the node they're connected to and that WILL be noticed by the other nodes nodes in about 2 seconds and flagged/paused/reverted, so now in order to hack a website every single move has to be coordinated across the multiple nodes the site is hosted on and every action has to have no lag so each node gets the same update with 1-2 seconds. What about having a multichain wallet which isn't an app on your phone or dependent on a browser extension and is secured by threshold ECDSA and signed by your biometrics on your phone? It's in alpha, but [that exists](https://oisy.com/) and with chainkey Solana coming soon you'll be able to sign and swap tokens across networks for less than a cent at a time once it's on the IC using an Internet Identity without having to worry about spoofed pages/DNS/malware stealing your keys. What about having 200 of the most well-respected cryptographers in the world working for them, Whether it's IBM stalwarts or the L from BLS signatures Ben Lynn working for them (aka how ETH's Beacon Chain works, it was inspired by Dfinity's use of BLS signatures). What about Vitalik having consistent high praise for the project? And yet we're supposed to believe every turd-snorting shit for brains mongoloid on this forum knows better than him? Mmkay, you make your choices. Suffice to say I hold Vitalik's opinion in higher regard than a group of tribal regards who debate if DOGE or XRP will moon sooner.

Smiling_Jack_

XD The data collected was actually correct, but the guy at BLS responsible for publishing it has dyslexia.

Smiling_Jack_

I don't know why markets give so much weight to these BLS jobs reports when they end up being wildly revised afterwards. "November’s initially reported gain of 150,000 was revised down to 105,000"

Cryptizard

Ah I see, you are just very stupid lol. The first link literally says that the source for all their data is the BLS, the exact same source as my link. The second one won't tell you its source without paying a subscription but wow the data just happens to match exactly to the BLS data so I would strongly suspect they have that same source as well. I am honestly really surprised you wrote all of that and made such a fundamental and unbelievably stupid unforced error.

therealestx

Lol, now you are just hating. Yeah sure no one would want a decentralised AWS. No way. Chain Key crypto isn't innovative at all. Running traditional software efficiently on chain isn't something anyone wants. Just think about any innovation before their utility became obvious. Amazon used to be considered useless. Why order something online and wait days when you can go to the store? Why send an email when mail works just fine? Many people like you doubted the use case for the internet too. You don't gather 300 of some of the best cryptographers and software engineers in the world to work hard for 8 years only to sell tokens. Vitalik believes Dfinity contributes to the bleeding edge of the space and sees them as competent. Is he an idiot? [Vitalik on ICP ](https://youtube.com/shorts/9Vwdo6_fIAU?si=T2xHyL8lBktZ2hbV) the Co inventors of BLS and WASM are part of Dfinity founding team. By there is reasonable explanations as to what happened to ICP price at launch. Feel free to research it. Heck, [ICP launch and price manipulation by FTX](https://cryptoleaks.info/case-no-1) The claim there are users is flatly incorrect. Dmail, DSCVR, OpenChat all have over 100k users and growing. The project is still in its early phase. The scope of what they are doing will take over a decade to complete. Here is where you look at usage stats for ICP [Internet Computer Dashboard ](https://dashboard.internetcomputer.org/). Plus Dfinity has tons of partnerships in the pipeline, many already started using the internet computer already. [ICP events and news](https://dfinity.org/events-and-news/#news) Here are some unique things you can only do on ICP in the crypto space: [ICP unique features ](https://internetcomputer.org/capabilities) I have met a single developer who tried ICP and didn't like it.

uwu2420

It’s not even hard to build a business model around it tbh. Have one with a secure element that cannot be updated. No “key extraction” garbage, no firmware updates, nothing. But now they say “hey ser we need updates because new cryptographic algorithms like BLS-12, Schnorr signatures, etc.” Then sell a version 2 with that new algorithm built in. Again, no updates. Etc. As long as networks are being updated with new cryptographic algorithms, new hardware wallets will be needed if the user wishes to use a coin or feature requiring one of the new algorithms.

BrendanTFirefly

$19,498 ATH in Dec 2017. Plugged that into the BLS inflation calculator, it gives you $23,344.

GoldEdit

Over the years, the methodology used to calculate the CPI has undergone numerous revisions. According to the BLS, the changes removed biases that caused the CPI to overstate the inflation rate. The new methodology takes into account changes in the quality of goods and substitution. Substitution, the change in purchases by consumers in response to price changes, changes the relative weighting of the goods in the basket. critics view the methodological changes and the switch from a COGI to a COLI as a purposeful manipulation that allows the U.S. government to report a lower CPI. https://www.investopedia.com/articles/07/consumerpriceindex.asp

Rice-Fragrant

Where I work, the lowest payed highschool DROP OUT makes about $35-$40k. Everyone I know who works in skilled trades (mostly people with just a HS diploma or GED) making the same as most median college grads too, about $60-$80k. Very experienced skilled trades and big rig truckers make well over 6 figures, about the same as most people WITH PROFESSIONAL DEGREES. Don’t be suckered by the boomer propaganda. Go look up the numbers yourself at BLS . Gov or OPENPAYROLLS . Com website. Example. HIGH RISE CRAIN OPERATOR IN THE STATE OF GEORGIA MAKES THE SAME AS A STATE JUDGE AND THE SAME AS AN MEDIAN PAY PEDIATRICIAN! All your models on education are out of date and out of touch with the real numbers.

Rice-Fragrant

Suuure pal. Those stats are only viable when you compare college graduates to HIGHSCHOOL DROP OUTS. Highschool graduates with skilled trades earn ON AVERAGE THE SAME AS AN AVERAGE COLLEGE GRADUATE. This is not speculation, IT IS A FACT! Go look up the salaries and wages for yourself on the BEURO OF LABOR STATISTICS. Gov website. Also, websites like open payrolls . com also has the public payrolls of government workers. A GEORGIA STATE CRAIN OPERATOR MAKES THE SAME AS AN GEORGIA STATE JUDGE !!!! About $130-$150,000. About the same as an average primary care physician according to BLS data in Atlanta. Y’all just regurgitating boomer propaganda from these garbage public schools. These government school teachers that sold you these lies only earn like 1/2 as much as a “dumb uneducated” truck driver working for Walmart. Some newly hired government school teachers with their newly printed degrees only earn the same AS THE LOCAL GARBAGE MAN. About $45,000 around my county… that’s embarrassing. Our current system has NOTHING TO DO WITH EDUCATION and everything to do with indoctrination, and indebtedness. It’s disgusting and parasitic.

ravenhawk10

No? You have a small portion of your wealth in an emergency fund. The majority of your wealth will be invested in some sort of asset. Furthermore very little of your emergency funds don't need to held in physical cash. You can hold most of it in a MMF or short term treasuries. Their real yield has been mostly positive until GFC. So you would have lost money on it in last decade or so but at the same time if you had any stocks you would have caught a massive bull market. So the lose 97% value is massive misnomer. Average 7% inflation over 50 years and you didn't any interest on that money is not a fiat problem its a financial literacy problem. The current CPI its designed to measure inflation based on a constant standard of living. This seems to be the most relevant metric for an individual. If your standard of living has increased are you not richer? If your standard of living has decreased are you not poorer? So if your wealth increasing faster than CPI, then you can maintain a higher standard of living and so are you not richer? And funnily enough on the BLS website \>That is, it assumes that consumers will substitute away from one brand or type of item, such as a steak or a car, as that brand or type becomes relatively more expensive compared with other brands or types of that product. **It does not assume, however, substitution between steak and chicken** or between cars and bus fare.

2Much2Touch2

What's funny is if you go to the BLS website it claims the dollar has only inflated 400% since 1933.

therealestx

This is beyond dishonest or ignorance. Even Vitalik has praised ICP. Let me guess, you know better than him? Many of the founding team members have invented or contributed to critical cryptographic breakthroughs and developed widely used programming languages such as BLS and WASM. Look up who Jens Groth, Jan Camenisch, Ben Lyn, Victor Shoup are. These are world renowned cryptographers and engineers with reputation on the line. Yet here you are, a nobody on the internet making wild and unproven accusations against some of the greatest minds in the tech world that they are scammers. Anyone with a shred of intellectual honesty knows who the unreasonable person is in this conversation.

therealestx

You're not even replying to my quotes. You are arguing something completely different that I didn't say. Assuming too much is your weakness. You don't know as much as you think you do. I have researched and built on ICP and have a good understanding of its capabilities and limitations. Most of your assertions are based on things you think are true about distributed systems. I will tell you what. I think I trust the co- inventors of BLS and WASM over some random crypto sub user.

therealestx

You can call it chilling or whatever but I just want people to defend their position. A lot of people on here do not know anything about crypto from a technical perspective and yet they talk so loud as if they know more than some of the most renowned cryptographers and engineers who put their work on the line to be judged by laymen. Look up some of the people who work at Dfinity. We wouldn't have wasm and BLS as we know it without them.

Smooth-Entrance-1526

It BTC hits $1M, id be very worried about the state of the USD Would the US be defaulting on their debt? News dropped about the Fed and BLS completely cooking their CPI and labor statistics? Groceries inflate 10% a day? BTC going to $1M would mean the USD being in the worst spot its ever been in. Likely a worthless currency

cryptoripto123

What's less biased? Reddit? Please. No source is perfect, but if you're going to criticize a useful source as being completely bad, then name a better one. This is like when people don't trust BLS numbers but trust made up numbers at Shadowstats.

Smiling_Jack_

BLS data released today: ||Actual|Forecast|Previous| |:-|:-|:-|:-| |Average Hourly Earnings m/m|0.2%|0.3%|0.4%| |Non-Farm Employment Change|187K|169K|157K| |Unemployment Rate|3.8%|3.5%|3.5%| Equities are flat, and Bitcoin is getting a headstart on the September slump.

gandrewstone

For 3, I'm not against it but I'm not running off coding it up. I'd merge someone's well-delivered change request. One thing that's interesting to me are the signature aggregation schemes (schnorr, BLS). Some of those deliver both efficiency and additional privacy.

SimbaTheWeasel

Happy Cake Day Homie! u/BLS55

tldrthestoryofmylife

The labor market isn't strong; unemployment is through the roof. It's just that the "official" data won't show that b/c they're rigging it, and they know perfectly well that there's going to be civil unrest (i.e., rioting and pillaging) regardless of what the BLS says if they don't pivot soon. Don't believe what they say about the economy being strong. It's like when they said inflation was "transitory" in recent memory until it turned out not to be; they're gaslighting the fuck outta you. The thing is that, regardless of what "official" statistics say, if you don't have food on your plate, you're gonna go out and start asking questions; this is the last thing they want. Inb4 they start saying "deflation is sticky and we need to cut rates to fight the new villain"

EggplantsLover

Just to name a few off the top of my head: * Optimistic rollups * ZK rollups * Proof of Attendance Protocol * State Proofs * Inter-Blockchain Communication Protocol * Cross-Consensus message Format * Automated Market Maker (CPMM, CSMM, CMMM) * Sign-in With Ethereum * EIP-1559 * Gasless Meta-Transactions * Abstract Accounts * Taproot * Coinjoin * Shapella Merge * BLS Signatures * Diffusion pipelining Are you really an enthusiast?

Njaa

This is the wrong answer. The reason the minimum exists is to set an upper bound on the amount of coordination the nodes have to endure. Very recent improvements in BLS signature aggregation allowed the cap to be lowered from 1000 to 32, while still being possible to run nodes on consumer hardware. If further such improvements are made, this minimum can be reduced further. Other "PoS" chains circumvent this hard problem by users delegating to a small set of nodes instead of running the nodes themselves.

Njaa

>It's still backwards compatible to 2009. No, it literally isn't. Good luck running the original Satoshi client. >You may be thinking of shitcoin clones forked from Bitcoin. No, I'm not. Coins forked from Bitcoin are not relevant to the discussion, so why would I be thinking of them? >why didn't they start with PoS? Several reasons, one of which is that building an actual decentralized version of PoS required cryptographic techniques that didn't even exist back then. Until recent improvements in BLS signature aggregation, there was no way of coordinating hundreds of thousands of validators - which is the reason many knock-off PoS networks use delegation instead of people actually running the nodes themselves.

Re_LE_Vant_UN

2023 Stock Market Dates you should know I’ve also added the time! If any important dates are missing let me know and I’ll add them! Quick definitions: **FOMC**: The Federal Open Market Committee. The main monetary policy-making body of the Federal Reserve System, responsible for setting interest rates and determining the direction of monetary policy in the United States. **Interest rate decision**: The Federal Reserve interest rate decision refers to the annual target range for the federal funds rate set by the Federal Open Market Committee (FOMC), which affects the cost of borrowing money in the U.S. economy. **JOLTS** The Job Openings and Labor Turnover Survey (JOLTS) program produces data on job openings, hires, and separations. **CPI**: The Consumer Price Index. A measure of the average change over time in the prices paid by consumers for a basket of goods and services. **GDP Estimate**: Gross Domestic Product estimate. The monetary value of all goods and services produced within a country's borders in a given time period, often used as a measure of a country's economic output and growth. **The Beige Book**: A report compiled by the Federal Reserve that provides anecdotal information on current economic conditions across the 12 Federal Reserve Districts. **Jobs numbers**: The statistics on the number of people employed and unemployed in a specific time period, usually released by a government agency such as the Bureau of Labor Statistics, used to gauge the health of a country's labor market. **PCE inflation rate:** The Trimmed Mean PCE inflation rate is an alternative measure of core inflation in the price index for personal consumption expenditures (PCE). It is calculated by staff at the Dallas Fed, using data from the Bureau of Economic Analysis (BEA). Jan 31-Feb 1 FOMC meeting Feb 1 Interest rate decision 11:00am pacific/2:00pm eastern Feb 1 JOLTS report for December 7:00am pacific/10:00am eastern Feb 3 January job numbers 5:30am pacific/8:30am eastern Feb 4 Jerome Powell’s Birthday Feb 14 January CPI 5:30am pacific/8:30am eastern Feb 22 FOMC Minutes of January 31-February 1 meeting 11:00am pacific/2:00pm eastern Feb 23 Q4 GDP second estimate 5:30am pacific/8:30am eastern Feb 24 PCE inflation rate 5:30am pacific/8:30am eastern Mar 7 Beige Book release Mar 8 JOLTS report for January 7:00am pacific/10:00am eastern Mar 10 February job numbers 5:30am pacific/8:30am eastern Mar 14 February CPI 5:30am pacific/8:30am eastern Mar 21-22 FOMC meeting Mar 22 Interest rate decision 11:00am pacific/2:00pm eastern Mar 30 Q4 GDP final 5:30am pacific/8:30am eastern Mar 31 PCE inflation rate 5:30am pacific/8:30am eastern Apr 4 JOLTS report for February 7:00am pacific/10:00am eastern Apr 7 March job numbers 5:30am pacific/8:30am eastern Apr 12 March CPI 5:30am pacific/8:30am eastern Apr 18 Tax day Apr 18 Beige Book release Apr 20 4/20 Apr 27 Q1 GDP first estimate 5:30am pacific/8:30am eastern Apr 28 PCE inflation rate 5:30am pacific/8:30am eastern May 2 JOLTS report for March 7:00am pacific/10:00am eastern May 2-3 FOMC meeting May 3 Interest rate decision 11:00am pacific/2:00pm eastern May 5 April job numbers 5:30am pacific/8:30am eastern May 10 April CPI 5:30am pacific/8:30am eastern May 25 Q1 GDP second estimate 5:30am pacific/8:30am eastern May 26 PCE inflation rate 5:30am pacific/8:30am eastern May 30 Beige Book release May 31 JOLTS report for April 7:00am pacific/10:00am eastern Jun 2 May job numbers 5:30am pacific/8:30am eastern Jun 13 May CPI 5:30am pacific/8:30am eastern Jun 13-14 FOMC meeting Jun 14 Interest rate decision 11:00am pacific/2:00pm eastern Jun 19 My birthday Jun 29 Q1 GDP final 5:30am pacific/8:30am eastern Jun 30 PCE inflation rate 5:30am pacific/8:30am eastern Jul 6 JOLTS report for May 7:00am pacific/10:00am eastern Jul 11 Beige Book release Jul 12 June CPI 5:30am pacific/8:30am eastern Jul 25-26 FOMC meeting Jul 26 Interest rate decision 11:00am pacific/2:00pm eastern Jul 27 Q2 GDP first estimate 5:30am pacific/8:30am eastern Jul 28 PCE inflation rate 5:30am pacific/8:30am eastern Aug 1 JOLTS report for June 7:00am pacific/10:00am eastern Aug 4 July job numbers 5:30am pacific/8:30am eastern Aug 10 July CPI 5:30am pacific/8:30am eastern Aug 29 JOLTS report for July 7:00am pacific/10:00am eastern Aug 30 Q2 GDP second estimate 5:30am pacific/8:30am eastern Aug 31 PCE inflation rate 5:30am pacific/8:30am eastern Sep 1 August job numbers 5:30am pacific/8:30am eastern Sep 5 Beige Book release Sep 13 August CPI 5:30am pacific/8:30am eastern Sep 19-20 FOMC meeting Sep 20 Interest rate decision 11:00am pacific/2:00pm eastern Sep 28 Q2 GDP final 5:30am pacific/8:30am eastern Sep 29 PCE inflation rate 5:30am pacific/8:30am eastern Oct 3 JOLTS report for August 7:00am pacific/10:00am eastern Oct 6 September job numbers 5:30am pacific/8:30am eastern Oct 12 September CPI 5:30am pacific/8:30am eastern Oct 17 Beige Book release Oct 26 Q3 GDP first estimate 5:30am pacific/8:30am eastern Oct 27 PCE inflation rate 5:30am pacific/8:30am eastern Oct 31-Nov 1 FOMC meeting Nov 1 Interest rate decision 11:00am pacific/2:00pm eastern Nov 1 JOLTS report for September 7:00am pacific/10:00am eastern Nov 3 October job numbers 5:30am pacific/8:30am eastern Nov 5 Remember, remember… Nov 14 October CPI 5:30am pacific/8:30am eastern Nov 28 Beige Book release Nov 29 Q3 GDP second estimate 5:30am pacific/8:30am eastern Nov 30 PCE inflation rate 5:30am pacific/8:30am eastern Dec 5 JOLTS report for October 7:00am pacific/10:00am eastern Dec 8 November job numbers 5:30am pacific/8:30am eastern Dec 12 November CPI 5:30am pacific/8:30am eastern Dec 12-13 FOMC meeting Dec 13 Interest rate decision 11:00am pacific/2:00pm eastern Dec 21 Q3 GDP final 5:30am pacific/8:30am eastern Dec 22 PCE inflation rate 5:30am pacific/8:30am eastern *Sources: BLS, BEA, FRED St Louis fed, Investopedia*

nomorebonks

Seems very buzzwordy - is the chain that insecure that it needs to upload it’s state to bitcoin every hour? I like the BLS multi sig of sending data but the validators each having a full key is less secure than it seems. How many validators needs to sign a time stamp?

WorkerBee-3

Here read this article. It'll break it down and has pictures. https://www.babylonchain.io/blogs/checkpointing-babylon-to-btc "every Babylon validator uses its BLS private key to sign the commit hash of this block (carried by the next block as the lastCommitHash) and submits its signature as a special Babylon transaction via Tendermint. The signatures from at least 1/3 validators are then aggregated into one BLS multiSig. The BLS multiSig, plus some metadata (to be specified soon), forms a succinct and verifiable checkpoint for Babylon." That data is submitted to the Bitcoin chain where it becomes a concrete checkpoint in time that can no longer be manipulated on a PoS system.

aminok

Perfectly serious. A Turing Complete virtual machine that runs concurrently on thousands of machines that remain synchronized without any trusted third party, and that managed to switch from Proof of Work, to Proof of Stake, without compromising on decentralization, is revolutionary for human civilization. An example of the kind of advances that went into Ethereum's Proof of Stake: https://twitter.com/technocrypto/status/1330150362427387910 The #Ethereum #proofofstake #phase0 #beaconchain is getting close to launch! So what? Here's a thread to explain why millions of dollars of #ETH are being moved into this state of the art gadget, what makes it different from other #PoS systems, and why it was worth the wait! First things first: even though the #beaconchain is being referred to as an #eth2 or "Ethereum 2.0" technology, it does not exist to replace the current Ethereum Virtual Machine we know and love as "Ethereum 1.0" today. If you're using the EVM, you're fine. It's not going away. Instead, the beacon chain is a gadget that was planned even from before the launch of "Ethereum 1.0" to be swapped in for the #proofofwork system, called "Ethash", which currently secures that same EVM environment. https://blog.ethereum.org/2014/10/03/slasher-ghost-developments-proof-stake Moving real ETH into the beacon chain gadget (which has been tested for months now to ensure the software and supporting tools are robust and reliable) is the first step in a phased plan to both eliminate Ethash and to upgrade Ethereum's capacity. #phase0 It is that upgrade *roadmap* for the existing EVM environment which is referred to as "Ethereum 2.0", even though "Ethereum 1.0" is coming along for the ride rather than being left behind. Confusing, I know. But there's only one Ethereum, one ETH currency, etc. Okay, with all of that 1.0/2.0 stuff out of the way, the next obvious question is: if all of this was planned before the initial network even launched, then why did Ethereum's #proofofstake upgrade take over *six years*? The answer is simple: until now the technology did not exist to run a secure, decentralised, and rapid #proofofstake system that was genuinely superior to #proofofwork on its technical characteristics. The beacon chain gadget differs substantially from previous generation #PoS. The core issue is signature volume. If you want to replace computing power with digital assets as your costly commitment to a decentralised #cryptoeconomic protocol, you need a way for LOTS of participants to INDEPENDENTLY commit those assets to each protocol update they make. If you keep the member list small, and the buy-in cost sky high, this problem is easy. You just take turns making updates, and once a high enough % of participants sign off, you get good economic guarantees (glossing all of BFT here, but it *is* 40 years old now, it's not hard). And it's also not decentralised. But if you lower the buy-in to something even halfway accessible while still trying to keep security high, it takes forever to get the guarantees. You can take turns faster, but then your whole chain fills up with signatures. It gets bad fast. Previous generation #PoS just gave up on trying to have more participants. They "delegated" the stake or "nominated" it or whatever. But either security was low, or getting "listed" was crazy expensive, or the chain was impossible to sync, or roles were trusted, or #alloftheabove Random sampling can help, fraud reporting can help, but at the end of the day the #Ethereum community wasn't willing to give up security, decentralisation, *or* rapid finality. So there were always too many signatures. THAT'S why it took six years. Fast forward to this year. The #Medalla beacon chain testnet hit almost 75,000 simultaneous validator slots, with a block every 15 seconds and *every* validator signing off on every 8 minute "epoch". That's nowhere near capacity: it was limited by total testing participation. If the money used on #Medalla were real, faking 10 minutes / 40 confirmations would have required a budget of at least ~40M USD, and faking the ~20 minute irreversible finality guarantee would have cost ~800M USD. This blows the economic security of PoW out of the water! So that's security and speed, but what about decentralization? Amazingly, there were over 5000 unique testnet addresses which participated in #Medalla, far higher than the number of solo miners in any #proofofwork chain today (most PoW miners use mining pools). And how do entry costs for solo #beaconchain staking compare with solo PoW mining? If we take one block per month as the minimum viable proposition for solo mining, #ethereum #proofofwork mining rewards for 24 blocks/months amount to ~60 ETH (27,000 USD at #Medalla prices). With 10% for electricity and 10% for profit, this means it costs ~50 ETH to become a solo #proofofwork miner on #ethereum. If you go more than 24 months between hardware refreshes, or you mine on a chain with less frequent rewards (like #bitcoin), then the entry cost is higher. Entry costs for solo staking on the #beaconchain, meanwhile, are roughly 32 ETH plus ~1000 USD (2 ETH) in hardware and then a monthly cost of 100 USD or less for a solid internet connection. Call it ~40 ETH all in for 2 years, and we're basically in the same ballpark. Nice! Note: this is a huge amount of $$, so the vast majority of individual #proofofwork miners are pooled miners, and similarly we can expect the vast majority of individual #proofofstake stakers to be pooled stakers. Trustless pools are crucial to maintaining financial accessibility. (Insert shameless plug for my "Dirt Simple Withdrawal Contract" proposal which aims to bring us trustless pools as quickly and safely as possible: https://twitter.com/technocrypto/status/1327939776113233920 ) #beaconchain #teardownthe32ETHwall But back to the #medalla #beaconchain. How was all this accomplished? How did researchers finally achieve a design that combined speed, security, and decentralization? And why wasn't this possible before now? The answer (twice over!), is found in three little letters: #BLS The Boneh-Lynn-Shacham (a.k.a. "BLS") signature scheme was invented almost 20 years ago, is fairly well studied, and relies on well understood cryptographic assumptions. It lets you easily combine (or "aggregate") multiple digital signatures into one! https://hovav.net/ucsd/dist/sigs.pdf Seeing as how the root problem in keeping #proofofstake both decentralized and fast is the amount of signatures you have to store and process, this is definitely going to help! But there's a downside: the traditional way of doing BLS had poor performance at high security levels. BLS to the rescue again! This time it's Barreto-Lynn-Scott curves, a family of elliptic curves which were discovered shortly after BLS signatures, but didn't rise to the forefront until the performance/security tradeoffs of the more popular "BN" curves were better understood. In 2017 #Zcash researchers from u/ElectricCoinCo designed and implemented BLS12-381, a specific member of the BLS curve family, to finally make possible BLS signatures with both high security levels AND high performance. The stage was set. It's at this point that #ethereum researchers actually started to play a role. Others had built all the parts but things needed to be standardised and hardened. This thread is getting super long so I'll just refer you here for the full details/backstory https://np.reddit.com/r/ethfinance/comments/jghide/daily_general_discussion_october_23_2020/g9sz7jm/?context=8&depth=9 The short gist is that a standard needed to be finalized; quality high performance libraries built, audited and formally verified; and quantum-secure redundancy built in to ensure that #ethereum could survive even the arrival of #quantumcomputing if it comes sooner than expected. These processes literally finished just in time for the launch of the #beaconchain! Maybe not everyone cares about all these gritty details, but #ethereum researchers sure do, and that's how you're going to get #proofofstake that you can trust. It's #worththewait! Get psyched! There are many more aspects of this #proofofstake design that I didn't have time to get into here, like how it combines BFT technology with the Casper FFG algorithm to provide both safety and plausible liveness under realistic network conditions, or how it supports sharding, etc. But the main thing I want to share my excitement about is how this really is a gadget that couldn't have existed in this fashion and quality at any time before now. We're on the cutting edge and I for one am glad we took the time to do it right. Now let's get this thing launched, and start testing it in production with real money at stake! And also get trustless pools working kthanksbye. #teardownthe32ethwall

ThatProduceGuy_

Why do people keep spouting this crap! *”Ohh any day those guy predicting recession will be right, eventually”* Yeah there are people who have been talking about the warning signs of this crisis for over a year and a half, but it’s just that *warning signs*. The bond market has been predicting the lowering of interest rates for months and the market only continues to price in this outcome. Oil has fallen sharply, even as OPEC announced more production cuts last month, which is only possible of the Oil market think demand is shrinking faster than production, another huge recession indicator. The near term forward spread, a metric that FED chairman has said has a 100% explanatory power of the bond market yield curve is screaming recession. Those are just some of technical factors. BLS data shows a slowing job market and job openings shrinking. Layoffs keep getting announced every week. Hourly payroll is down. Global trade is continuing to decline, has been in decline since 2021. Loans and leases falling. Banks are failing left and right, and the regulators (OCC, FDIC, FED) have set dangerous precedent that will only see to it that more banks fail and fall into FDIC receivership and the carcass of assets sold off to the highest bidder (Jamie Dimon). People are under employed, working multiple jobs, and using debt en masse just to put food on the table. So today you say “a broken clock is right twice a day”. Tomorrow you’ll say “why didn’t anyone see this coming”.

watchingtheweasels

Let alone the question of the adequacy of the BLS current population survey of 50,000 in calculating such things in a country of 350 million people...do you think that a source of statistics that is willing to change definitions to try and improve their image isn't beyond fudging the methodology of identifying and collecting that CPS data? Have you as an individual ever been surveyed by the BLS for anything? [Real Unemployment Data](http://www.shadowstats.com/alternate_data/unemployment-charts) The U3 number significantly under reports unemployment in the country. So yeah, we're in a recession. Right now the financialization of our economy over the past three decades has caused it to enter an economic coffin corner. Cut interest rates back to the point where zero percent is visible and you have a hyperinflationary collapse that destroys the currency but still permits the government to engage in deficit spending. Keep the rates where they are or increase them and you cause an all-asset class deflationary collapse/depression, preserve the currency or slow it's rate of depreciation, but cause a problem for the government in which it can't engage in additional deficit spending and may even a trap in which it has trouble servicing it's debt. IMF doctrine says that defeating inflation requires raising interest rates to at least inflation + 1%; we're nowhere near that yet...and it does not appear that the fed has the appetite for that.

px403

Sounds like there was a sudden burst of BLS gossip that flooded out nodes that weren't well connected, which is why some of those early slots got missed, but it all worked out. It looked to me like even the node output from the live stream started throwing errors like crazy right at the switch, and took 30 seconds or so to cool down. Check out the bottom left console window. https://youtu.be/BVq1pz3FrDo?t=3676

coinfeeds-bot

tldr; BLS Schifffahrt kündigt die Einführung ihrer Proof-Of-Visit NFT-Kollektion an, die speziell für Besucherinnen und Besuchern des berühmten Bootsstegs in Iseltwald am Brienzersee, Schweiz entwickelt wurde. Jeder NFT ist ein einzigartiges Sammlerstück, d *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

cantreadcantspell

I stand corrected, just learned that the Nano X apparently supports the BLS curve.

PMme10dolarSteamCard

Here is the important part Full and partial withdrawals for validators BLSToExecutionChange messages, which allow validators using a BLS_WITHDRAWAL_PREFIX to update it to an ETH1_ADDRESS_WITHDRAWAL_PREFIX, a prerequisite for withdrawals Independent state and block historical accumulators, replacing the original singular historical roots

coinfeeds-bot

tldr; Goerli testnet successfully upgraded to Shapella, testnet finalized after validators updated their clients, withdrawals & BLS credential changes are being processed. Withdrawals are coming to mainnet on April 12 with the Shapella upgrade. Consensus layer Nimbus v23.3.1 added support for running multiple execution clients. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

coinfeeds-bot

tldr; February inflation in the US dropped to 0.4% from 0.5% in January, in line with economists' estimates, the Bureau of Labor Statistics (BLS) said on Tuesday. On a year-over-year basis, inflation slowed to 6.0% from 6.4%. Bitcoin rose to a nine-month high of $25,484 in the minutes following the report. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

coinfeeds-bot

tldr; February inflation in the US dropped to 0.4% from 0.5% in January, in line with economists' estimates, the Bureau of Labor Statistics (BLS) said on Tuesday. On a year-over-year basis, inflation slowed to 6.0% from 6.4%. Bitcoin rose to a nine-month high of $25,484 in the minutes following the report. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

Dfranco123

https://twitter.com/BLS_gov?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor @ 8:30am EST

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coinfeeds-bot

tldr; The US economy added 311,000 jobs last month, more than expected, while the unemployment rate ticked higher to 3.6% on a rise in labor force participation, the US Bureau of Labor Statistics (BLS) said on Friday. Economists had expected to see 225,000 new jobs added to the economy last month. By industry, hiring remains particularly robust in the leisure & hospitality sector, as well as for retail, health care, and government jobs. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

Giga79

>1. Zero reliance on seed phrases. 2. Standard user-onboarding using mobile devices. 3. Smart contract wallets reduce the chances of human error. 4. Changes are easy to implement on other chains that are Ethereum Virtual Machine compatible. 5. The flexibility of activating bank-like features like auto-pay, account recovery, and multi-factor authentication. 6. Compatibility with future signature schemes like BLS (Boneh-Lynn-Shacham) and 6. Quantum resistance, making the network less prone to attacks. > >Overall, ERC-4337 would help further the concept of “Trustless Banks.” Crypto will become supercharged with AA. People won't even know they're using a blockchain, just the features it enables are *better*.

coinfeeds-bot

tldr; Goerli testnet Shapella upgrade scheduled for March 14, 10:25 PM UTC. Sepolia testnet successfully upgraded to Shapella withdrawal-mainnet-shadowfork-2. Cancun planning discussions on SSZ, EIP4788 and EIP2537 (BLS12-381 precompile). *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

Maleficent_Plankton

Those are good points. And the PoS part is actually an issue with most blockchains. It's unfortunate consequence of decentralization and open markets. **You have to remeber that the purpose of PoS is security, not for retail users to casually earn interest**. If you're not providing security, you're not helping out by delegating your staking power. Most other blockchains chose to improve user experience at the cost of security. They are sacrificing decentralization in at least one of several ways: * **Orders of magnitude fewer validators**. Ethereum has 500k. Most others have 20-2000. Personally, I think 500k is excessive. But in order to have fewer, they would need to make it more exclusive. * **Using smaller committees**. They use a subset of validators instead of all validators. Ethereum uses **all 500k** and BLS signatures in their Casper FFG part of consensus * **Higher node requirements**. Or higher costs. 32 ETH is actually quite low, and I think other blockchains are more reasonable im having higher requirements. Do you really want retail users validating a chain when they have no technical experience? * **Delegation**: This doesn't provide additional security because delegators only care about 1 metric: how much interest they make, which is based on validator uptime, not security. That being said, staking pools have nullified much of Ethereum's actual decentralization. And that's a consequence of open markets. It's hard to prevent people from doing that off-chain on any network, or from producing many separate validators. I remember switching from 1 delegator pool in Cardano to another. I later found out they were run by the same entity.

Maleficent_Plankton

Those are very good points. To add to your comment, it's an unfortunate consequence of decentralization and open markets. Many other L1 Ethereum killers are able to achieve more efficiency by sacrificing decentralization one of few ways * **Orders of magnitude fewer validators**. Ethereum has 500k. Most others have 20-2000 * **Using small committees**. They use a subset of validators instead of all validators. Ethereum uses **all 500k** and BLS signaturea in their Casper FFG half of consensus * **Higher node requirements**. Or higher costs. 32 ETH is actually quite low. That being said, staking pools have nullified much of Ethereum's actual decentralization. And that's a consequence of open markets. It's hard to prevent people from doing that off-chain on any network.

Maleficent_Plankton

####**Some concerns with the summary (not the blockchain)**: * **Multiple built-in chains**: I'm not sure why you didn't talk about the separate chains. There are 3 primary built-in chains. The C-Chain is the most-used, but your summary mostly describes the other 2. * **C-Chain** is where 95% of Avalanche primary network activity occurs. All exchanges and non-Avalanche wallets interact with just the C-Chain. Its throughput is only 70 TPS for basic transactions (21k gas), which isn't much faster than Ethereum's 60 TPS. I wouldn't consider that high-speed. * **Subsampling**: Avalanche is like Algorand in that it uses subsampling (randomized committees) without ever getting votes from all validators (like Casper + BLS in Ethereum). Thus it needs a higher percent of honest validators (currently 80%, the factors are adjustable) and has a lower liveness threshold (20%). Not necessarily a bad thing since it is efficient at the cost of slightly-decreased security, but I wouldn't be advertising it as a benefit. Other blockchains also have gossip, and gossip is always done in parallel. The C-Chain is ordered linearly due to smart contracts needing to be linear. * **Transitive voting - DAG structure** I like DAG, but this only applies to the X-Chain, which has 0.01 TPS of activity. The other 2, including the most-used C-Chain are linear. -------------- ####**Some concerns with the blockchain I would love to have clarification on**: **Unknown Validators**: It's hard to know who owns what validators. Validators spin up new instances on AWS every 3M AVAX similar to how Ethereum validators spin up new ones every 32 ETH. But Avalanche doesn't give any details who owns these. They all look like: "NodeID-Fg3L1eo53UWpf3J9Y45PK2ksQ1zyqajHL". We know Ava Labs owns 20% of them. Half of the others are all located just in Germany. How do we tell for sure who owns these and who is just spinning up new validators? ####**Subnets** Why use a subnet when you can just spin up an independent blockchain? What is the value-add? By subnet, I mean both the 5+ validator set and its referenced blockchains (since Avalanche documentation also switches between the definitions) **The incentives for building subnets are very backwards** 1. **Backwards financial incentive**: It costs 2000 AVAX to set up each subnet's validator set, which is about $400K USD for a 10-validator subnet. It's not pricey, but the economic incentive is backwards. If I'm setting up validators, why am I paying you? Shouldn't you be paying me to use my validators? 1. **Backwards security incentive**: Subnets provide additional security for Avalanche, but they get nothing in return. They're not rollups or sidechains. All they get in return are shared development and blockchain explorer tools, which are really weak incentives. They have to use off-chain bridges to connect back to Avalanche's C-Chain. 1. **No interoperability**: Subnets are completely independent from each other and don't share execution protocols, storage, or networking. There's no requirement for them to be interoperable or use the same gas tokens. For all practical purposes, they're completely independent. 1. **Subnets aren't sharing validators. Using other people's validators is a security risk.**: Validators from other subnets can validate each other's blockchains but none of the 3 subnets are doing this. You can look at their subnet pages and compare the validators there with their own blockchain explorer validators. You'll find that there are no extra validators from other subnets. This makes sense since there is no financial or security incentive to use other organization's validators. Plus, it's a security risk. What is their incentive to be honest? There is nothing at stake for them to be honest for us. I can create an off-chain incentive, but this is really roundabout when I can just acquire my own validators without needing Avalanche.

Spiritual-Amoeba-116

Of course theres nothing concrete about 12k. Its just a reasonable lower low. We could hit 6k. Not likely, but definitely possible. You say I'm jumping to conclusions based on limited data. Sure. But you look at the data you have, and you can start to base some assumptions. Like I currently dont believe BLS employment statistics for shit. Why? Based on the fact that bls numbers were what, 1.2m jobs higher than the ADP report in November, then they suddenly closed the gap? Million jobs. Poof. Now we're supposed to have 517k jobs in January? Oh. Look at the seasonal adjustment factor at near record highs! Convenient. But then the data says -10k full time jobs, and possibly erroneously high numbers of part time work. Lets assume the numbers are accurate. We lost full time work, but gained a lot of part time work. That's pretty weird in a good economy. Most people work to pay bills. So why would they chose part time work? The government handouts are coming to an end. Maybe full time work is unavailable. Maybe they have a full time job, but need more to make ends meet. Yes, data is always limited, but you can infer, observe, and recalculate. And to be perfectly fair, you will need the luck, as crypto exchanges and projects will likely not be getting any tailwinds in the event something does break in this recession to end the bubble of all bubbles. When the banks fail, the government backstops them. When mortgage lenders fail, the government will be there. NO government will be there for crypto. There is no backstop except 0. We don't know how bad this recession will be, but it isn't hard to imagine. So yessir. While I am long term bullish on crypto, I sincerely wish you good luck.

Spiritual-Amoeba-116

I disagree that the american dream is gone. I get your point, it is more and more difficult to achieve, but far from impossible. It's a damn shame nobody teaches their kids to invest, and it's not something that can be taught in 3 class periods freshman year. I laugh when people say schools should teach kids. Your average teacher took on 100k+ of loans to get a masters, just to earn barely above poverty level wages. That's who you want teaching your kids the value of a dollar? And the indicators aren't set in stone, it's more a rough idea of whats going on. Seasonal adjustments are kind of a joke. So are BLS job numbers btw, if you need job numbers, use adp. Anyways, the indicators were most useful to compare to previous reports. They fucked up CPI by changing the "recipe" annually instead of every other year as previous. Now it's more difficult to compare years side by side. Not to mention the new method of figuring cpi showed end of last year actually hotter than the last recipe. But with this new calculation, housing is a larger weight...just in time for real estate valuations to plummet. So CPI has a good chance of looking rosy all year. Just like end of last year. Makes ya think. So yeah, just a heads up, this next few months will probably be either chopping in ranges or just boring crab as we wait for the market to get more indicators on how bad this recession will be. We went up because the recession is still a ways off, too early to be able to price in, but not far enough away to ignore. Soft landing talk inevitably ran rampant among bulls and now a shit ton of retail has bought into an unsustainable rally. We still have companies like amazon trading at 100x earnings. People are just ready to buy the dip. I don't believe we've seen bottom. We haven't seen capitulation. The upper class and corps are still burning through that sweet sweet taxpayer infusion, keeping the economy hot. On that note, watch for consumer spending to drop when student loan payments restart. That'll be one domino closer to the cliff. Of course I'm not psychic, but this is the picture that macro has been painting for me lately.

coinfeeds-bot

tldr; Ethereum layer two-specialized wallet BLS Wallet has launched an integration with smart contract layer ethereum protocol Metis. The new integration will ease onboarding to web 3.0 application of web 2.0 users. It will be achieved by pre-funded transactions that are free for the end user and social key recovery. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR. Get more of today's trending news [here](https://coinfeeds.substack.com).*

LivingFondant1419

Tldr - Ethereum layer two-specialized wallet BLS Wallet launched an integration with smart contract layer ethereum layer two protocol Metis (METIS) — promising feeless transactions.

nowihaveaname

"Ethereum layer two-specialized wallet BLS Wallet launched an integration with smart contract layer ethereum layer two protocol Metis (METIS) — promising feeless transactions." That's some boner fuel right there.

Whole_Visible

As they have their own internal data and access to data from the statistics from the treasury/BLS/etc, I bet the upcoming January CPI data is at the same month over month pace as it's been averaging the past half year

cryptoripto123

Ah yes let's just do some handwaving and claim that's real inflation. Maybe you should learn how CPI is calculated: https://www.bls.gov/cpi/questions-and-answers.htm **2. How is the CPI market basket determined?▾* The CPI market basket is developed from detailed expenditure information provided by families and individuals on what they actually bought. There is a time lag between the expenditure survey and its use in the CPI. For example, CPI data in 2020 and 2021 was based on data collected from the Consumer Expenditure Surveys for 2017 and 2018. In each of those years, about 24,000 consumers from around the country provided information each quarter on their spending habits in the interview survey. To collect information on frequently purchased items, such as food and personal care products, another 12,000 consumers in each of these years kept diaries listing everything they bought during a 2-week period. Over the 2 year period, then, expenditure information came from approximately 24,000 weekly diaries and 48,000 quarterly interviews used to determine the importance, or weight, of the item categories in the CPI index structure. **6. Whose buying habits does the CPI reflect?** The CPI reflects spending patterns for each of two population groups: all urban consumers and urban wage earners and clerical workers. The all urban consumer group represents over 90 percent of the total U.S. population. It is based on the expenditures of almost all residents of urban or metropolitan areas, including professionals, the self-employed, the unemployed, and retired people, as well as urban wage earners and clerical workers. Not included in the CPI are the spending patterns of people living in rural nonmetropolitan areas, those in farm households, people in the Armed Forces, and those in institutions, such as prisons and mental hospitals. Consumer inflation for all urban consumers is measured by two indexes, namely, the Consumer Price Index for All Urban Consumers (CPI-U) and the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The CPI does not necessarily measure your own experience with price change. It is important to understand that BLS bases the market baskets and pricing procedures for the CPI-U and CPI-W populations on the experience of the relevant average household, not of any specific family or individual. For example, if you spend a larger-than-average share of your budget on medical expenses, and medical care costs are increasing more rapidly than the cost of other items in the CPI market basket, your personal rate of inflation may exceed the increase in the CPI. Conversely, if you heat your home with solar energy, and fuel prices are rising more rapidly than other items, you may experience less inflation than the general population does. A national average reflects millions of individual price experiences; it seldom mirrors a particular consumer's experience.

Bitcoin_Maximalist

"according to data vom BLS" well, let me tell you something...

corylus_ave

Data from the BLS shows that approximately 20% of new businesses fail during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. If you buy btc, you might be underwater in the first two years. but definitely will make it in 10 years.

coinfeeds-bot

tldr; Bitcoin is continuing its weekly rally with a push beyond $22,000, bringing the crypto market back to a market cap of over $1 trillion. The pump has triggered another avalanche of liquidations across digital asset exchanges. Bitcoin has been rallying since last week after the BLS published optimistic inflation data, signaling to markets that the Fed may be prepared to stop hiking interest rates. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

jjhurtt

With the US Bureau Of Labor Statistics changing the way CPI is determined, we might be in for one hell of a bull run. February is the first print on BLS’ new CPI data standard. With that, the fed is set to continue raising rates but if inflation reports show inflation slowing even faster, the .5% hike could easily become a .25% hike setting markets off. The new CPI standard could aid in this possibility. Here’s the excerpt from BLS’ website below: “Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data.” Stay stackin

shrinkshooter

I found this: >The biennial spending weight update reflects consumer spending from two to three years prior. For example, consumer purchases made in 2017 and 2018 were used by BLS as the spending weights in January 2020 through December 2021 CPI-U, CPI-W and R-CPI-E indexes. The overall goal of the CPI-U index is to use consumer spending from as recent a time period as possible, and hold the set (or more precisely, the quantity mix) of goods and services purchased fixed over a period of time until new spending weights can be introduced. In general, estimates of current period inflation tend to be higher when calculated with outdated spending weights when compared to inflation estimates calculated with more current spending weights. This is because consumers change, or substitute, what they buy over time, often shifting purchases away from items that are becoming relatively more expensive to alternatives whose prices are not rising as fast. >Information on the 2022 weight update is available on the 2022 weight update information page: https://www.bls.gov/cpi/tables/relative-importance/weight-update-information-2022.htm

CryptoResearchTLDRs

Another case of misinformation. Always check the source: [https://www.bls.gov/cpi/notices/2022/methodology-changes-2022.htm](https://www.bls.gov/cpi/notices/2022/methodology-changes-2022.htm) >Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data. The way I understand it, instead of updating CPI's items' weights every 2 years based on data of people's spending habits in last 2 years (understandable since update period is 2 years), they will update CPI's items' weights every 1 year based on data of people's spending habits in last year. So **they will simply update CPI's items' weights more frequently**. For example, say we really started buying VRs a lot in 2023. After change, the weight increase of VRs will be reflected in CPI sooner (shorter update period) and heavier (shorter history of data will imply more aggressive increase). On the contrary, should the VRs craze be just one year thing which will die out soon, CPI might incorrectly overvalue VRs weight for some time. The change is neither good or bad and definitely not unfair or trying to hide anything. BLS simply decided that in today world they need to react more quickly to changing market and decided that updating weights every year will do more good than harm. **What does not change is that year-over-year CPI and month-over-month CPI will obviously still be calculated for 1 year and 1 month change respectively.** Otherwise the series of numbers would not even be comparable at all.

Moist-Perception-751

[Original announcement](https://www.bls.gov/news.release/archives/cpi_09132022.pdf) from *Bureau of Labor Statistics* regarding changes to methology: ​ >**January 2023 Consumer Price Index Weight Update** Starting with January 2023 data, BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data. The CPI numbers coming up are the ones of December 2022, and to my understanding, will be calculated with the new method. These are released [14th of February 2023](https://www.bls.gov/schedule/news_release/cpi.htm). \--- **Own thoughts:** This will give algorithm more affected by volatility, and by itself alone should cause a rise, if the year, which is suddenly, being left out of the moving window, lower than its average.

pbfarmr

Tell me you have a tinfoil hat collection, without telling me you have a tinfoil hat collection. BLS is just changing the weights adjustment frequency, and -spoiler alert- using the most recent data possible is appropriate.

nullama

> Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data. Source: https://www.bls.gov/cpi/

nullama

> Starting with January 2023 data, the BLS plans to update weights annually for the Consumer Price Index based on a single calendar year of data, using consumer expenditure data from 2021. This reflects a change from prior practice of updating weights biennially using two years of expenditure data. Source: https://www.bls.gov/cpi/

ClassicNo1029

This post is just...wrong on every level. The CPI data are a matter of public record and anyone with an internet connection can see for themselves that indeed health, housing, and education are included in inflation. It is right there on the BLS website. You can even download the data and run the numbers yourself if you like. Saying otherwise when it is so easily checkable is...well, it is isn't a good look. But you don't even have to do that, you can just apply basic common sense. Let's say you're right, and inflation has been raging along at 12-13% a year. That means wages must have also have been increasing by 12-13% because labor costs are part of of inflation too, right? Sure, some people's wages might be falling behind, but everyone's? Have your wages been going up by 12-13%/year? Mine haven't. And let's do a thought experiment. We've all noticed higher prices in the last few months, right? Gas, eggs, whatever, the price has gone up. When prices go up people take note. Now if inflation was indeed 12-13% like you claim, that means that a car that costs $30,000 today would have cost $9,200 back in 2003. $1,500/month rent today would have been $460. A $11 pack of microbrew would have cost $3 in 2003. A $750 Fender guitar today would have cost $230 back then. And all this happened with no one noticing or remembering. You really think that is plausible?

Whole_Visible

The jobs data coming out today was once again beating expectations. Pretty excited to see some good numbers from the BLS US NDP tomorrow. It's not good for crypto for good job reports as positive jobs reports empower the fed to continue tightening the leash but as someone who's month to month income is based more on labor than rent/assets, always happy to be in a strong labor market

Maswasnos

I don't think any breakthroughs in BLS signature aggregation are coming in 2023 so the minimum staking threshold is unlikely to change.

iosiffir

[Nobody can defeat the Bart head pattern](http://data:image/jpeg;base64,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)

coinfeeds-bot

tldr; Syscoin’s Lead Core Developer and Foundation President, Jagdeep Sidhu, has demonstrated a proof-of-concept for a PoDA-based Optimistic Rollup (Bedrock-based deployment) using Syscoin's Tanenbaum testnet. The rollup uses BLS digital signature, Zero-Knowledge, Data Availability, and PoW+PoS strategy to create finality on the SysCoin blockchain. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Avalanche Warp Messaging (AWM) is rolling out in AvalancheGo Banff 5, bringing fast, reliable native communications to all Avalanche Subnets. AWM enables Subnet Validators to collectively produce a BLS Multi-Signature that attests to the validity of an arbitrary message. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

remind_me_later

The problem is as much technical as it is social. As answered by /u/Maleficent_Plankton in [a much earlier post](https://www.reddit.com/r/CryptoCurrency/comments/x6qc7f/the_32_eth_minimum_for_running_your_own_validator/in8beas/): > It's very unlikely they will lower it. This is due to how long it takes to aggregate signatures using BLS protocol. There is a limit to how many validators can be supported without slowing down signature aggregation for Casper. > > More details: https://ethresear.ch/t/pragmatic-signature-aggregation-with-bls/2105 As noted in the [beacon chain's specs](https://github.com/ethereum/annotated-spec/blob/master/phase0/beacon-chain.md#gwei-values:~:text=client%20of%20eth1.-,MAX_COMMITTEES_PER_SLOT,-uint64\(2**6): > The minimum amount of ETH needed to reach a full-sized committee for every shard in every slot (now **32 ETH * 128 committee size * 64 shards per slot * 32 slots per epoch = 8,388,608 ETH**) becomes too high; we're reasonably confident we can get 8.3m ETH staking, but if we increased the number of shards to 128, say, then we'd need to get 16.7m ETH staking; this is significantly harder, and if we were to fall short, the system would be forced to compromise by making cross-shard transactions take longer. In short, technical improvements have to be made (& currently are in the middle of development) in order to reduce it downwards to 16, 8 ETH, etc. The other thing is that Lido was one of the first & loudest in the liquid staking space, consequently leading to an oversized position in the space. Once withdrawals are enabled in the next update, there'll be a rebalance of market share towards other providers (Rocket Pool, Stakewise, etc.). With regards to ETH requirements, Rocket Pool's already experimenting with 8 ETH deposits for their validators. [The requirements can be made lower](https://twitter.com/messaricrypto/status/1559872691313618944), but it's best to lower it one step at a time.

coinfeeds-bot

tldr; EIP4844 (proto-danksharding), EOF (3540, 3670, 4200, 4750, 5450), EIP1153 (transient storage) & EIP2537 (BLS precompile) are candidates for inclusion (CFI) in Shanghai or future upgrades. The Hardhat for Visual Studio Code extension adds language support for Solidity to Visual Studio. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Njaa

I wonder what straws your are gonna grasp at when withdrawals are live in ~April. Probably BLS signatures requiring 32 ETH min stake, ignoring that smaller delegations are available.

uwu2420

Don’t all of the current quantum resistant algorithms have major downsides that prevent them from being used for cryptocurrencies? I know Ethereum validator keys currently have a lamport key pair generated alongside the BLS12 key that is actually used, but lamport keys can only be used one time, which obviously is problematic.

EnvironmentalDig1612

If humans and/or other life forms were to ever be doing multi planetary trade agreements, peace treaties etc …then I could imagine something with BLS aggregation being used to sign agreements, pay invoices.

NoConfection6487

You should understand what CPI is though. It's trying to track the effect of prices on your spending habits. So while it is true some people live in smaller homes because they can't afford a larger home, this is generally true for most things. I'm not living in a mansion because I can't afford it. I dont' have a yacht because I can't afford it. CPI and other similar figures look at what an AVERAGE household spends on and then tracks how those items shift. It's not a perfect metric by any means but it's a lot closer than people here talking about gut feeling or ONE specific item (food or energy) rising in price. CPI tracks all this. The BLS goes over this in its FAQ pretty clearly >How is the CPI market basket determined?▾ The CPI market basket is developed from detailed expenditure information provided by families and individuals on what they actually bought. There is a time lag between the expenditure survey and its use in the CPI. For example, CPI data in 2020 and 2021 was based on data collected from the Consumer Expenditure Surveys for 2017 and 2018. In each of those years, about 24,000 consumers from around the country provided information each quarter on their spending habits in the interview survey. To collect information on frequently purchased items, such as food and personal care products, another 12,000 consumers in each of these years kept diaries listing everything they bought during a 2-week period. Over the 2 year period, then, expenditure information came from approximately 24,000 weekly diaries and 48,000 quarterly interviews used to determine the importance, or weight, of the item categories in the CPI index structure. >Whose buying habits does the CPI reflect?▾ The CPI reflects spending patterns for each of two population groups: all urban consumers and urban wage earners and clerical workers. The all urban consumer group represents about 93 percent of the total U.S. population. It is based on the expenditures of almost all residents of urban or metropolitan areas, including professionals, the self-employed, the unemployed, and retired people, as well as urban wage earners and clerical workers. It's also important to note this paragraph further down: >**The CPI does not necessarily measure your own experience with price change.** It is important to understand that BLS bases the market baskets and pricing procedures for the CPI-U and CPI-W populations on the experience of the relevant average household, not of any specific family or individual. For example, if you spend a larger-than-average share of your budget on medical expenses, and medical care costs are increasing more rapidly than the cost of other items in the CPI market basket, your personal rate of inflation may exceed the increase in the CPI. Conversely, if you heat your home with solar energy, and fuel prices are rising more rapidly than other items, you may experience less inflation than the general population does. **A national average reflects millions of individual price experiences; it seldom mirrors a particular consumer's experience.** This is true for most things in the world. Means and Medians don't always reflect YOUR particular experience.

NoConfection6487

You were complaining about something that isn't true. Here's a quote straight from the BLS website: >In September, the Consumer Price Index for All Urban Consumers increased 0.4 percent, seasonally adjusted, and **rose 8.2 percent over the last 12 months**, not seasonally adjusted. The **index for all items less food and energy increased 0.6 percent in September (SA); up 6.6 percent over the year (NSA).** Both headline CPI and core inflation are listed. Nothing is hidden.

cryptoripto123

Because you have to WEIGH what an average family spends. Food isn't the ONLY thing people spend on. But I guess you never did your basic reading to understand inflation nor do you understand what an AVERAGE means. Cherry picking ONE spend item isn't the equivalent of overall inflation. The BLS compiles a basket of goods that includes food prices. https://www.bls.gov/news.release/cpi.nr0.htm

cryptoripto123

Some of you need to take a BLS 101 course. There's two numbers that are published by the BLS: 1. The Headline number which is the 8.2% number **INCLUDES** food and energy. But I guess you never knew that. 2. There's a second core number (6.6% this past month) that excludes food and energy. But I guess you never did your research to get even a basic understanding of how inflation works. Food and energy inflation is routinely published and included. https://www.bls.gov/cpi/

Maleficent_Plankton

There are people who have spent hundreds of hours studying it. It's integral to how Casper and BLS work, and it's probably too low. Why?

Maleficent_Plankton

Yeah, it's a very tough topic, and I doubt even 5% of this sub could understand it. And among that 5%, 90% wouldn't have the patience to read up on it. You first have to understand Ethereum's Gasper consensus protocol. This is good ELI-15 video on it: https://www.youtube.com/watch?v=5gfNUVmX3Es The [Single-Slot Finality article](https://notes.ethereum.org/@vbuterin/single_slot_finality) already simplifies Casper and BLS to an ELI-college level. I'll attempt to summarize the important parts, but you'll lose out on understanding unless you study the full article. Ethereum PoS's **Gasper** consensus is broken into 2 parts: GHOST-LMD and Casper FFG * **GHOST** provides the 12s blocks everyone's familiar with that have probabilistic finality (similar to PoW chains). Since the merge, 99.9% of uncle blocks and forked blocks have disappeared. But once a week or so, we still see a [forked block](https://etherscan.io/blocks_forked). * **Casper** is a separate finality gadget protocol that provides an additional deterministic finality for consensus. Ethereum has a stupidly-high number of validators ([460K+ and growing](https://beaconscan.com/stat/validator)) compared to most smart contract chains that only have 100s-1000s of validators. Instead of using small committees to validate transactions, Ethereum targets higher security and gets every validator to validate every transaction using an efficient signature-aggregation method, BLS. The important parts are that each validator's signature only uses 1 bit in the final aggregated signature, and it takes many blocks to aggregate that many signatures. * At 32 ETH being the minimum requirement for becoming a validator, Ethereum currently supports a maximum of 3.8M validators. Due to the gigantic number of validators, it takes a long time to finish signature aggregation. The current design for Casper requires 1 Epoch for signature aggregation and 2-3 Epochs (64-96 blocks) before finality. Currently, there are almost 2^19 validators (500K), growing towards 2^20. For BLS, they are split into 32 slots of 64 committees with 256 validators each: 2^19 = 2^5 * 2^6 * 2^8. There are several potential ways to optimize BLS so that it fits into 1 slot: * **Increase # of committees** - Requires higher network load * **Increase # of validators per committee** - Requires higher network load * **Use multi-layered aggregation** - Increases complexity and latency (hard to do in a 12s slot) * **Decrease # of validators** by increasing the minimum staking value - Decreases decentralization. Some have suggested 1024 ETH minimum to reduce the maximum # of validators to 120K (2^17). This is what nearly ALL other PoS networks do. Or they could cap validator size through another method, but it's hard to choose a fair method to decide who gets to stay. * **Use Super-committees**: Randomly pick a subset of validators for the committee instead of using the full set of validators - Decreases fault-tolerance. This is what many other PoS networks do. It also increase complexity in security design. They can do it, but it requires sacrificing one part of the trilemma.

Njaa

You should be aware that in Ethereum, the 32 ETH limit is a technological one, not an economical one. It has already been reduced to 17.6 by Rocketpool, and they're working on further reducing it to 10.4 in Q4/Q1 and even further. Technological improvements to things like BLS aggregation can further lower the limit. The technological advances that allow lowering the limit are progressing far faster than the deflation of the Ether supply. And of course, all of this is only relevant to those allergic to joining a staking pool. The one's who don't mind joining pools already have a solution to this problem.

TheGreatMuffin

Content: 0:00 - INTRO 01:04 - What is Chaumian Cash? 10:23 - History - David Chaum's original papers Blind Signatures for Untraceable Payments 18:56 - How does a eCash Mint/bank work? 27:04 - Blind signing 30:32 - Denominations 35:58 - Stephan Brands's Paper - Untraceable O-line Cash in Wallets with Observers 43:46 - Real world instatiations / History of Chaums ecash via DigiCash Inc. 50:02 - Laissez faire city / Digital Monetary Trust 51:24 - Open Transactions 54:38 - Hal Finney's RPow 58:02 - Compact eCash 59:25 - Why you need identities to blame? 1:01:02 - Mathew Green's eCash blog post 2010 1:02:50 - Schnorr Blind Signatures 1:08:42 - Wagner's attack & The Birthday Paradox 1:14:48 One-more-forgery EUF-CMA (Existential Unforgeability under Chosen Message Attack) 1:18:52 - Cashu 1:20:50 - Diffie-Hellman key exchange 1:23:25 - Blind Diffie-Hellmann key exchange 1:25:49 - Privacy Pass 1:31:33 - FediMint 1:35:26 - Threshold Blind Signatures 1:40:43 - BLS signatures 1:43:13 - Lightning gateways in Fedimint 1:46:27 - Risks and tradeoffs of Fedimint 1:54:01 - Perfect Privacy

HighlySuccessful

"they", don't measure inflation, however flawed the measurement may be, "they" just rock the interest rate dial back and forth, based on the data everyone gets. President appoints and Senate approves the head of BLS - which is responsible for his institution to gather all labour related data, and has no links to the FED at all.

silver00spike

False. We have .6 unemployed people per job opening, not 3. More jobs than number of unemployed people. Source: BLS

BuyETHorDAI

The difference is that Ethereum can support a very high number of individual validators, thanks to cryptography called BLS signatures. Contrast this to Tendermint where the validator set is capped because it relies on a variant of BFT which is inherently difficult and expensive to scale.