Jamie Thingelstad

I’ve been building out my approach to crypto. I shared my allocation in March and updated it this weekend.

Notes:

• I’ve been increasing Ethereum to get closer to Bitcoin.
• Bitcoin and Ethereum together are 80%.
• Increased the amount of Cardano as an additional Ethereum-like blockchain.
• Doubled Filecoin, which builds a permanence layer on IPFS.
• Added Curve DAO because of the focus on cost-efficient swapping between stablecoins.
• Added Enjin because of the focus on NFTs.

I’m sharing this as my own notes for any value they may have to others.

The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the content as such. This website does not recommend that any cryptocurrency should be bought, sold, or held by you. Conduct your own due diligence and consult your financial advisor before making any investment decisions.

In my continuing exploration and learning about Ethereum I decided to setup what would be my usual entry on the Ethereum Name Service (ENS). The same way the Domain Name Service (DNS) converts names like thingelstad.com into something computers can use, ENS can convert thingelstad.eth into the wallet address I prefer for Ethereum, and other crypto as well.

ENS is a companion to DNS. Mostly it holds addresses for crypto destinations. It also can hold additional metadata like pointers to your Twitter and Github profiles, as well as your website, email address, and profile image. ENS is completely decentralized like all things on Ethereum. It is operated and governed via a series of smart contracts.

The process is super easy, as one might expect. You simply connect to your wallet. I use Rainbow for all my Ethereum dapps connections. To buy the domain name you execute a series of two transactions on the blockchain. In fact, all changes to your ENS entries are changes on the blockchain. Some of them have fees, and all of them cost Ethereum gas. After registering the domain, you have to set your resolver. The resolver is saying which contract should requesters ask for information from. Think of this as your DNS host records. You can then add any number of crypto addresses to your entry. I setup Ethereum (of course), Bitcoin, Litecoin, Cardano, and Filecoin. It is unclear to me that there is any benefit in setting up all of them, but that was the list I thought may get used.

The last step is to create a reverse entry for your wallet. That is just like your Reverse DNS entry. Doing that allows dapps to show your friendly thingelstad.eth entry instead of the address. This is another transaction.

You can see the records for thingelstad.eth, it is all setup. I also have the reverse record set. To test, Etherscan Name Lookup for thingelstad.eth works as does the reverse lookup. Nice! 🙌

It was fun to do this and another opportunity to get familiar with dapps and Ethereum. Unfortunately this type of experimentation is extremely expensive right now due to gas prices being so high. The actual costs of doing all of the above are very low, but the gas prices to execute the transactions were more than 10x the cost of the thing itself. Right now this is like buying a $10 item on eBay and spending $100 to have it shipped to you.

Lastly, the ENS service operates as a token. My address, thingelstad.eth, is a token that only I own. It is kind of neat that it now shows up in my wallet as well!