/biz/ - Business & Finance

WTF is this ranjesh?

>>19933955
so youre saying if i put $100 in this today i will have $100k in 30 days?

>>19933955
Just bought a fat GST2 bag. Thanks for the tip! I'm packing my spacesuit.

thanks op, hope you're right on this one.
seems like a cool project anyway, to lower the gas fees that is

What the fuck is this shit

>>19933955
gastoken is an exploit. Ethereum will fork to fix this. I wouldn't buy.

>>19933955
Any 2017-18 fag remember Gas?

from the gastoken website.

SO these gastokens have been already created, meaning for each GST2, some shitty smart contract has been created at a cheap gas price, and when you use the GST2, it will request the smart contract to be deleted, which triggers a net 10000 gas refund from the EVM, presumably at the higher gas price.

Its obviously an exploit of the incentive structure of the EVM as >>19934664 points out. >>19935139 shows that even the creators of gastoken (including Phil Daian, emin gun Sirer's grad student) say they will advocate for getting rid of its loophole in the future.

The Totle website does indeed say it may use gastoken to reduce your price of using a DEX, getting you a cheaper price with their DEX aggregator than you could get by yourself on uniswap cuz you dont understand how to use gastoken.

So the totle guys are literally using gastoken for you to lower your costs, and hooking you into multiple DEXes to make it slightly easier.

So it seems like buying Gastoken is a bet on the price of gas increasing, at least until ETH2 goes live. It seems likely that when ETH2 comes out there will be big network clogs as the excitement to get 32 and stake fucks the old network, and ETH outstanding falls.... maybe the gas price will increase then, making this a profitable investment in the short run.

Still in the long run its a loophole its own creator said he would destroy.

Thoughts?

OP you just self-owned yourself. Stay tuned, I'll tell you what to do.

>>19935421
You are incorrect in your assessments. ETH is not doing anything with gas fees for 2-3 years according to the official ETH foundation roadmap. You are correct that the ETH 2.0 upgrades scheduled shortly, none of them address gas fees, and most of them will increase network transactions over the short term. Gas fees will only get much worse over the next year probably. There is a secondary market for GST2 to allow for users and projects to speculate on it. 1inch even launched their own gas token, Chi (which only works with their own platform) based upon GST2. GST2 is agnostic and is being used by every large dex for fees on some capacity. Jump on the moon ship or go shill your ghostcoin bags to some morons.

>>19935421
In addition, the GST2 token does prune the chain so it improves the ETH blockchain. The token takes advantage of a useful ETH refund program to reduce chain bloat. This token helps everyone and gets people rich. It might be the perfect coin!

This thread is the gayest compilation of misinformation I've ever seen

It should also be mentioned that GST2 is unbelievably valuable to users, especially large institutions, that submit large smart contracts to the ETH network. Many of these contracts cost $100s to $1000s of dollars during this time of high gas prices. A single GST2 token could save $100s to $1000s in fees. Guess whose snatching them up?

Im in.

Ok I did a little digging. First and foremost 1inch just crossed $400 million volume and chi is inherently better than gst2.

https://medium.com/@1inch.exchange/1inch-introduces-chi-gastoken-d0bd5bb0f92b

So I would bet on chi over gs2.

Secondly, I think these tokens were mainly viewed as an exploit, because selling them on dex's like uniswap was altruistic. You are suffering too much impermanent loss to not justify stockpiling.

But with balancer and liquidity mining people are realizing you don't need a 50/50 split of eth and chi in a pool. You can have 90/10 split and charge a higher fee. So now these coins aren't really an exploit because people have a reason to list them on a dex. CHI is really going to climb from this. You will still make gains from gs2, but CHI has significantly more volume, and a fundamentally better token. Someone is going to make a balancer pool with 90%chi 10%eth and you're going to want to deposit into it.

It should also be mentioned that GST2 is unbelievably valuable to users, especially large institutions, that submit large smart contracts to the ETH network. Many of these contracts cost $100s to $1000s of dollars during this time of high gas prices. A single GST2 contract could save $100s to $1000s in fees. Guess whose snatching them up?

>>19933955
> jeeting intensifies

>>19936095
You are correct about the huge speculative opportunity with gas tokens. However, you are incorrect about Chi. Chi is ONLY coded for the 1inch exchange. NO OTHER EXCHANGES USE IT. GST2 is used by a large number of dexes and aggregators because it's agnostic and can be easily plugged into existing systems. Venmo is going to moon GST2 to insane levels.

>>19936211
I agree that Chi has very limited use since it's completely tied to a single exchange. GST2 is the better play here.

>>19934664
OMG. Ethereum ain't gonna fork for gas tokens. They almost failed to get staking which was wildly popular. Everyone except miners love gas tokens. Gas tokens are here to stay for a very long time.

This is done and over with when it comes to a pump. It pumped hours ago and now the tx list action has dried up

>>19936710
Last transaction was 9 mins ago.

>>19935965
there is almost certainly a downside. Miners get paid less on their transaction that includes a gastoken refund. It's possible that a mining pool just doesnt include your gastoken transaction in their block because fuck it theres less money in it. This could result in higher wait times to transact.

No such thing as a free lunch, friend.

I like this but theres only over 2k liquidity.

>>19937308
Uniswap V1

>>19937308
Oh nvm there's more volume on v1 uniswap.

>>19937328
Yup saw that now.

Hey Rajesh that Logo is awesome. Fuel Station or Fool Staion is Question.

Woah dumping like crazy.

>>19937686
This coin isn't for plebs that can't afford the gas fees to buy it. That's one thing an epic gas coin can't do. Only anons with brains allowed.

>>19939045
man you would shill this coin better if you shut the fuck up.

>>19933955
What's the cap that this USD value can go to though? Wouldn't I not want to buy a gastoken for 2k when I could just send a tx for .50 USD? I may be a smooth brain and missing the point. Why would it 1000x if you use one for a speedy tx?

>>19939908
it couldnt possibly 1000x. To do that, ETH and gas prices would have to be so unbelievably high.

You are right though, there should be some "fundamental value" price range for this relative to ETH/GWEI

>>19940892
You are a moron. Minting a custom NFT often costs $50 ($300 for on-chain) in transaction fees. Large complex smart contracts can cost $100s to $1000s. A dumb pleb like you that buys Tron with your Eidoo wallet aren't the target investor. This coin is of extreme value for people and institutions with money and real needs.

>>19941169
I know, right? These idiot fudders are bringing weak lies. They enjoy working at McDonald's and shilling bitcoin sv.

>>19941169
I unironically bet you at this point that TRX will have massive fiat onboarding capacity before ETH.

Super bullish on GST2!

The largest GST2 active wallet is Compound's wallet.

Also 1/3 of the total supply has been taken out of circulation by the founder. Proof no transactions from largest wallet for over 2 years.

>>19941169
you can pay for gas with ETH, so it makes sense that there should be some relationship between the ETH price and the value of GST2, which is derived from the gas price.

You are overplaying your hand and making it obvious that you are a shill.

>>19942394
Why is the founder able to take coins of out circulation after the fact? I thought this was decentralized

>>19942760
he's didnt, the shill is just lying.

Daian just hasnt moved them in 800+ days. Doesnt mean that he CANT. Just that he HASNT.

tldr, shills gunna shill

This seems like a good buy once it settles back down to the $5 range. The Paypal news is months away if it even happens (lol coindesk article with anonymous sources). There's no way it will sustain this pump

>>19942908
Fudders gonna fud. This coin has been steadily increasing in value for over a month. There were two pumps outside of that steady growth.The last one was within minutes of the venmo announcement. This coin is easily sustainable for $500+. The toxic tribalism and jealousy in crypto is sad to see.

>>19943173
your reply cemented my opinion that this pump is unsustainable

Fudders are sad and pathetic. GST2 epic gains everyday. Look add the chart. We're just getting started.

I got in at 34. I'm a master trader.

>>19944400
This is a golden God. You will be wearing hoes like cheap cologne.