Adventures In Ethereum With Jongo!

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Disclaimer: I'm not the biggest fan of Ethereum. In fact, I try to avoid it like the plague. So please take what I say with a grain of salt. However I thought it would be a fun dive into the experience I've had on the 'smart contract' blockchain over the past few weeks.

So a little background now, I got into some Ethereum based projects a few years ago. It wasn't that I dove into them because I enjoyed the experience, it was mainly because I thought the projects were cool.

Here's the 2 I'm going to share with you today...

RealT

Torum

So RealT is this really cool idea where you buy fractional pieces of real estate. It's not open to American clients for regulatory reason, but up here in Canada, it's good to go. I dove into this project back in 2019 or so, and it worked like this...

Invest in property, get paid 'rent' every week. And since 2019 it's been working like a charm. RealT pays out it's dividends each and every week like clockwork, and I shouldn't even call it dividends. It's literally...Rent.

I'm a digital landlord. I guess?

But here's the fun part, they paid originally in USDC, which is on my favorite blockchain - Ethereum.

And guess what you have to do when you want to get your rent from out of RealT? Pay gas fees!

And if you ever want to sell your property, you have to 'claim' the token on Ethereum (more gas fees) and then find someone in the community to buy it from you because if you choose to sell on the open market in UniSwap, it costs....GAS FEES!

Anywho....I managed to get my 'rent' out from RealT and ended up paying about 40 bucks in fees. Just dumb, gas fees suck....

Next adventure was with Torum.

I've written about this project in the past and when they first launched they even hung out here on Hive. I loved their onboarding gamification and thought it would have been the perfect front end for Hive.

Torum brands itself as a #web3 platform. And you earn their native XTM token for posting, getting tips, logging in, and ever referring new people to Torum.

Guess what blockchain Torum decided to put XTM on?

You got it!!!! Ethereum!! YAY!!!

So here's the process if you ever want to cash out your XTM.....First you need to request it from Torum itself. Not from a blockchain, from the actual owners of the platform. Even though I have never had trouble, I could totally see situations where some people would have to fight to get their XTM.

I requested it and did about 3 different verifications to finally be told my XTM was on it's way....And then over a week later, it showed up in my MetaMark wallet.

Just a painful experience. And I haven't even sold it yet because I'm dreading the thought of swapping it on UniSwap. I'm sure the fees will be astronomical.

So after my incredible results on Ethereum these past few weeks let me say something that we should all print out, remember and take with us each and every day....

We are SPOILED on Hive!

And yeah, something like RealT needs smart contracts to operate, so I understand their need to be on a Ethereum based chain. But Torum is such a head scratcher for me.

On Hive, we flip tokens, buy tokens, sell them, send them, transfer them.....We play games, we build things, we upload videos, we Thread....And oh yeah, we even blog every now and again!

And it all costs.....Nothing.

I know not everyone sees eye to eye on all things on this blockchain. There are arguments and debates across the board. But let me tell you, at the end of the day, I wouldn't want to call ANY other blockchain home.

We truly have it all here!

Posted Using LeoFinance Alpha

hive-167922 leofinance ctp ethereum torum crypto web3 metemask investing
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27 comments
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I have the same feeling about ETH and other Eth-based tokens. I avoid as much as I can because of yes, gas fees. Lol. The RealT project sounds nice, if not for the fees. Haha.

Indeed, we are so spoiled here on Hive.

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Yeah it's pretty bad. They do have an option now on RealT, to be paid in DAI.....Which has like 0.000002% fees or something.

Posted Using LeoFinance Alpha

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Of course. Hive is an incredibly versatile platform that allows us to perform a wide variety of activities. From exchanging tokens to creating content, there is always something fun and exciting to do here.
So, long live HIVE.

!WINE

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I have never been into any ETH projects and I just don't think it's worth it due to the fees. I don't plan on getting into any either even if that is where all the large money is going into.

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You aren't missing a thing....Unless you a making millions on trades and can afford the fees lol

Posted Using LeoFinance Alpha

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On that front, Hive is really light years ahead of other blockchains. RealT is a really cool project, being a digital landlord is super cool in my view :)

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It is, I'm going to keep going with it because I have changed the rent I get to DAI which apparently has no fees.

Posted Using LeoFinance Alpha

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Ethereum is fun, cool and games till you want to do transactions. It kind of is painful to maintain the wallet on browser, it's better to just use the trustwallet with ethereum. I try to avoid ethereum based sites because small payout does not happen due to fees and Hive is better in that space. But ethereum is like that big daddy type vibes due to use case.

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That's the double edges sword....It's such a massive project with everything that's 'popular' on it.

Posted Using LeoFinance Alpha

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Is this just in canada, or still in anoter country. I love the deal

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I wish there wasnt a need for you to re-state yourself over and over again.. but sadly.. that is the way it goes.. change is resisted so heavily, and people wonder why this world is so f'ed at the moment..

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