Free Friday - 2/4/22

Questions Answered, PSAs, and musings from what's next.

HAPPY FRIDAY.

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Inside

This post contains past articles, some responses to crypto/tech questions, and some thoughts on general questions.

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In Case You Missed It

• Cryptomining 100 - What is it all about?

• Cryptomining 200 - How I started in 15 minutes

• Defi Yield Farming 100 - It’s CrossFit but for Crypto

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Crypto Questions

• What’s Impermanent Loss
  It’s when the value of your contributed assets changes up or down from the day you deposited into a Liquidity Pool. Think of the word Impermanent as temporary or unrealized as the actual loss you incur is only recognized when you withdraw your deposit. More on this soon. Check out the beginner piece on Defi Yield Farming for an initial primer.
  

• What are you doing when Ethereum switches from POW to POS
  Cry.

  

  Just kidding, I switch to the next alt-coin and forget about it.
  

  

• What’s PoS / PoW?
  It’s a long story and I’ll write a dedicated post on it. But basically they are fundamental changes to how transactions on a blockchain get consensually agreed upon.
  
  PoW = Proof of Work
  Cryptominers add new transactions/blocks to the blockchain by computing to solve challenges. First miner wins.
  
  PoS = Proof of Stake
  No more mining! A user is chosen to add to the blockchain based on their stake. You have to stake your crypto assets to be eligible to add blocks to the blockchain, and you’ll get rewarded with a transaction fee. When you are the chosen one, you are betting attesting to the accuracy of the transaction, with everyone else validating your work. If you are wrong, you lose part of your stake. See what’s at stake?

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General Questions

What do you want to write about next?

In no particular order, I’d like to write something that encapsulates the spirit of each point:

• Save the Senior - Rants about ways you can save help support uplift your direct reports, and the direct reports of others.
  

• NFT / DAOs - but I wanted to interview consult talk a NFT / DAO guru on this one
  I can’t explain what this is without making fun of it.
  

• Reinventing Your Approach to Collaboration and Writing -
  It’s really silly but often times the first way we learn to do things is coincidentally the only way we learn to do things. We don’t put much thought on we can reinvent the approach, and when we that makes sense to do either.
  

• The 3 Kinds of Research - When someone says “Do your research”, what do they really mean? The curious take on that.
  

• The Risk Of - I worked in risk, I think in risk. I think in risk mitigation too. I wanted to apply it to crypto mining and crypto investing but that seemed too dense or unnecessary.

Note: Still continuing the Defi Yield Farming bits.

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PSA

PSA don’t store your crypto in Metamask. Only use Metamask when you are ready to make the transaction within the same minutes of you doing the transaction.

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Submit Your Time Sheets ;)

For the people who are employed, don’t forget to submit your time sheets.