Sunday, June 18, 2017

ERC20 token fees on Ethereum network - gas, spam, usability, mass adoption

I've first heard of BTC for the first time in the Wired magazine - article about Silk Road, back then BTC was valued at $13.

I've purchased my first BTC for £73.

I remember bubble of 2013 and emotions related to it.

I remember Ethereum crowdsale but because I wasn't in the first two weeks (2000 ETH per BTC) I skipped that privilege.

I remember DAO, security concerns, hack, hard fork... I actually managed to sell my tokens just before.

This time I've applied for every possible credit card with 0% interest (at some point they started rejecting me) and invested into crypto, but I'm not a great trader and converted some of the gains back into paper money for the repayment fund... Way too early, I poorly assessed state of the market (phases of a bubble) and missed very substantial gains.
(now I understand that it wasn't a bubble, crypto is here to stay for the long haul)

Now I'm back in the game, writing about ICO  - - as well as sharing some lessons about trading - my blog on Steemit - I should actually stick to my own advice and not to trade - invest in a few coins and celebrate in 2020.

I never got a chance to properly learn Solidity, I always assumed there are better programmers than me and my unique skillset is somewhere on the intersection of media, technology and connecting experiences. At some in my life I downloaded Chromium source code, compiled it and realised - I'll let the geniuses do the heavy lifting and I'll stand on the shoulders of the giants.

Right now we have a number of ways of releasing own currency, own token on Ethereum or other platforms. Here are some options:

• Ethereum native: - probably one of the first to be fully operational
• Expanse: TOKENLAB
• +

Next month list probably will be much longer and unless it is your core job as a journalist in the space you'll never keep up.

I had a question about the fees... How to send ERC20 token?

It's non-obvious:

In essence - even though you have some token, you still need to own ETH... The official documentation suggests sending small portion of ETH with each transfer of the token, so that there is always enough to pay for the fees:

Ethereum is likely to evolve from PoW to PoS and there are many proposals in the making, the one from the image above is posted here.

Waves is also requiring fee for transfer:

I've posted to Bancor Slack and it seems like there is some fee involved after all as well:

I genuinely believe it is an interesting problem: 
• No fees allow spamming network.
• Aurorefill as suggested in the docs - expensive - also subject to spam.
• Fees denominated in ETH while holding ERC20 - not practical.

It would be nice if miners knew that certain ERC20 have some value and captures small portion of it, rather than requiring ETH... But then that opens a whole universe of problems related to the exchange rate and which transactions should be included on the blockchain (again spam problem).

Fees in ETH are problematic for mass adoption and usability of local currencies - I'm genuinely keen to learn how 

Some another, silly, potentially ridiculous ideas that came to my mind:
• Centralised server sending just enough ETH to complete transaction?
• Off-chain transaction resolution?
• Proof-of-burn and tokens sent from another location?

Monday, May 15, 2017

Fitness in the London town - free stuff - this is what I do... (May 2017)

I admit doing a lot of things wrong - I'd happily swap 50% yoga hours - - into weight training hours and I'd be in much better shape right now.

Treating yoga as a workout was a poor misconception - maybe just enough to stay in fairly acceptable form but definitely not enough to achieve fitness goals:
- 10 pull-ups
- muscle up
- 5k under 20m
- different variations of backbends and splits
- increased shoulder mobility

It may looks cool in 360° VR but I definitely spent too much time working on this video. The thing is - either you film or focus on the practice:

Currently Attending:
Parkour Generations
- Bikram Yoga - actually prefer Jivamukti with Beth and Annalisa
- East London Gymnastics (Beckton)


(main criterium - about 7 minutes cycling away)

Free stuff:
- Tribe Run:
- Rebook Fithub Kings RoadCovent Garden

Two inspirational women I had a chance to met - keep doing great work:

Some recommendations by Elle:

List of lists, do your own research, I've already covered most of them:

More running clubs, not sure if paid or not, modest signup fee may apply:

(running is super democratic, anyone can do this, there are many more running clubs)

- London Friday Night Skate:

Obstacle racing is a very authentic, primal, natural sport - just you and no artificial rules. Similar to Spartan Race and Tough Mudder - first page of Google (self fulfilling prophecy, by linking to them they'll remain on top) - just to name a few - list of lists:

(waiting till Siri / Alexa / Google will structure this data in an standardised form)

Last but not least - current version of me - messy hair - not shaven - silly look - awful posture - inflated belly - in other words - THE WORST VERSION OF ME - so that I could observe a visible progress in a couple of months:

Let's make it to the next level...

Monday, May 8, 2017

Selling my AETERNITY tokens (æternity blockchain)

Job done.

I feel greatly relieved.

From the time perspective I admit - I should be less emotional with my trading.

I should hold on to these tokens a little bit longer and sell them during Phase 2 to a greater fool - I'd probably get more.

I have already admit - I'm terrible at trading - I shouldn't be doing that - here is my blog post on Steemit - Investing strategy suiting your needs and why I won't actively trade Bitcoin (or any other cryptocurrency)

At the end - I have exactly the same amount as if I was holding my BTC all the time - minus a few sleepless nights, stressing out about the project.

Commit 1, commit 2, commit 3 - and these are not the only difficulties in the project - see also ICO DNA.

I'm selling my AETERNITY tokens.

The main difficulty - they are not listed exchanges, they are not even issued at all... So how do I sell something that doesn't exist just yet?

I've posted message on Slack and on Telegram, to avoid chit chat speculation a dedicated channel was established:

Last night we had an interesting conversation about logistics of the trade. I suggested ESCROW and with some tweaks we can make it work:

1) find a buyer (I'm a seller)

2) find reliable, reputable ESCROW (both agree, 2-3% fee of something)

3B) (B for "buyer) sends BTC or ETH to ESCROW

3S) (S for "seller") sends private key to ESCROW

4) funds are in ESCROW for a period of time

5) tokens are released, BTC or ETH get transfered to my account

There is a number of issues with that approach - trusted ESCROW, time before token get released, chance (unlikely but still a chance) that I change my mind immediately after tokens get released...

There are so many moving parts here, it's scary!

And yet I cannot figure out any better way...

Why selling now?

I was thinking for a long time how to resolve this matter.

I have communicated directly with Yani and I educated myself in game theory - Nash Equilibrium and Prisoner's Dilemma - me saying that I want to get out will inevitably reduce the confidence and therefore value of the tokens so here comes the explanation...

Since day one I was active in the community - provided instructions how to run on Mac and on Windows (almost) - wrote some code for the wallet and we were discussing options of hiring me. Unfortunately there was some f__kup along the way - initially I thought of it as WTF OMG LOL moment - but in reality it was uncool - so I reversed the thing, apologised and acknowledged mistake. Too late - trust is something you build for a long time and then one moment it's gone.

I was hoping to transform crisis into an opportunity - that even if something goes wrong you can count on me. I still believe there is a chance of us working together. At the same time I completely understand your stance and I can only hope that there are lessons learnt on both ends.

Tangent: whenever there is a decision - the universe splits into two... I really wish I was in a different universe - working with you rather than trying to get out. What's done it's done - right now I want to get outta here, I don't want to be a contributor or an investor - I want to move on.

I've signed NDA so I cannot tell you anything that is confidential - I don't even want to share public information - do your own research and due diligence... And if you have way too much paper money or crypto holding - getting ready for the Kickstarter - - YEAH - the thing is for real!

Friday, December 16, 2016

24 Hour Party People - Saturday 17th December 2016 in London

There is a very good movie:

Are you ready for the challenge?

Starting in the morning (9:30 - 13:30) with Morning Gloryville
Here is the FB event:
(outstanding energy)

Then Psymera, daytime psytrance party (12:00 - 22:00)
FB event:

Did you know that Fabric won a lengthy legal battle? "War on Drugs" is taking its toll and innocent young people are dying from trying to have some fun.

Join the Psychedelic Society on their event "Debate on the legal regulation of Psychedelics" (18:00 - 23:00)

No longer media propaganda of 60s (hippies, peace movements, war in Vietnam), now we have science, data, research and internet to share the knowledge. But yeah, law is the law, for time being we need to play by the rules to avoid legal troubles.

After the debate there are two options...

1) Fabric (23:00 - 08:00)
FB event:

Note that the venue is still not Fabric as they are implementing brand new sound system:

For the record - Ministry of Sounds and Dolby Atmos are next level:

2) Psychedelic Way (till late) (free party is not a crime)

Psychedelic Way operates in an unlicensed manner so you need to find your way around it. It's not for everyone and I'll aways recommend to do some research + critical thinking + common sense.

UPDATE: Hive Dalston

Always highly recommended - super conscious and connected crowd!


There are many challenges - food, sleep, logistics - it's just like in the world of clubbing.

Will I do this - absolutely not - will someone make the attempt - unlikely but not impossible.

Could be a fun article on or  😇🦄 🎉😎

Have fun!

Thursday, July 28, 2016

Hello World - planet Earth as of 2016

Just a few observations - connecting the dots, stating the facts - use your own mind.

0) We live in a perfect world

We live in a perfect simulation. Too many rabbits? They'll eat all the grass and population will reduce. Too many foxes? They'll eat all the rabbits... Even if currently we pollute the planet triggering global warming - in the scale of the Universe everything is in equilibrium.

1) #brexit, Donald Trump, China

I mention politics only very briefly.

2) Bitcoin, Blockchain, Ethereum, DAO

Crazy journey. $150m raised, then hacked, then forked... Crazy journey.

3) Deep Learning, TensorFlow, Prism

AI (artificial intelligence) and ML (machine learning) for the masses!

4) Pokemon Go

AR (augmented reality) for the masses!

5) Oculus, Vive

VR (virtual reality) for the masses!

6) Self-driving cars, electric cars

Google, Tesla, rumours about Apple launching their car...

7) Drones

Not a novelty any more. Video from 2014:

8) Terrorists

All day every day media BS and wiki page with a list... Even before they occurred.

9) IA (Intelligent Assistants)

Siri (Apple), Cortana (Microsoft), Google, Amazon...

10) More AI

IBM Watson, Wolfram Alpha...

11) Psychedelics

12) Materials

Nanomaterials, superconductors, aerogel, 3D-printing...

13) Spirituality, consciousness, energy, vibration

Awakening kundalini...

Daniel Pinchbeck - Psychedelic Initiation and the Ecological Mega-Crisis from Breaking Convention on Vimeo.

14) Universal basic income

People don't have to work. Nature already knows how to grow food. Abundant energy from the Sun and water... People don't have to work. Work will remain as a hobby, passion, mission, privilege.


We live in a perfect world, in a perfect simulation:

Would be nice to hangout with and get off the ground (come and join me for a ride).

Internet has been around for 25 years, Facebook and iPhone for roughly 10... It took 1.5 years for Groupon to reach $1b valuation - - my bet for the future is unplugging, off-the-grid, decentralisation and independence. Just like the essay Vinay published couple years ago -

(it is already happening)

Sunday, June 19, 2016

The Eleventh HOPE - selling my ticket at the face value... (logistics is complicated)

Logistics is complicated. It's not that cheap to hop over the pond. $150 for the conference ticket is OK, but another $1000+ for the flight and another $1000+ for the lost income is beyond my comfort 

In January when I've purchased the ticket I was full of optimism + "make it happen" + "I'll figure that out" but as the date is approaching quick reality check: Logistics IS complicated.

(obviously I didn't account for accommodation because I've intended to sleep at the venue)

And the exhaustion, and... I'm just too stressed about the stress. It sounds like a limiting belief but I'm worried that I wouldn't fully enjoy the Hope.

There is something special in events and conferences I'm attending. Team of organisers and volunteers putting a show together and then all that effort condensed into 3 days... Peak experience!


It was out of this world...

(I was to EMF2014, 44CON, 32C3, BSidesLDN2016 too)

Arriving to EMF2016 as well.

It was at the event when I've registered the domain:

Some more photos:

I actually skipped my flight on Monday and decided to stay a few days longer... Such events are rare in occurrence (once every couple of years) and yet I find it difficult to organise logistics for the XI Hope - selling ticket at the face value...

(pretty sure it'll be an amazing event)

Contact me anytime, you know where to find me. I think is the easiest way.