Client diversity chat, SAP testing USDC and more - The Daily Gwei Refuel #610 - Ethereum Updates

Transcript

hello everyone welcome to another episode of dailyway refuel where you cap the latest news in the ethereum ecosystem I'm your host Ian there's a signer and test the 23rd of June 2023 right everyone let's get into it uh so just a quick correction on yesterday's episode I said that I was going to be doing a weekly roll up with Ryan uh this week it's actually with David this week uh the ones with Ryan two of them are going to be in July so this week David in July for two weeks Ryan it was actually quite funny because after I recorded yesterday's refuel I joined the zoom call uh and David was there and I'm like uh what did I mix up here and then it was obviously too late to go back and edit the refuel because I was recording the roll up and then the refill went out

you know as I was recording the the roll up pretty much uh but yeah just a funny little story there it was just a little bit of a surprise for me but yeah anyway I'll be recording uh with Ryan in July but uh the weekly roll up I think should be out by the time you guys listen to this um or watch this uh so hopefully you enjoy that uh with David there anyway moving on so Tim baiko put out a another wrapping up of the latest ethereum all called dev's call here his his Twitter thread that he usually puts out which of course I'll link in the YouTube description below for you guys to go through uh but Andrew here has given us a really nice uh screenshot or a screenshot of a really nice summary that Tim baiko or uh put together over

this so the too long didn't watch or didn't read was that the execution layer uh testing team gave an overview of some spec test repos that uh some dencoon updates included uh just small technical stuff around 4844 and some other eops uh devnet updates uh probably this is the most relevant uh that apparently they had some issues on devnet 6 and we'll restart another devnet with the same specs once clients pass Hive tests and have stable releases so I remember I mentioned to you guys devnet6 was that uh next day they were going to spin up but apparently there were some issues with it so they'll be restarting another devnet uh hopefully uh sooner rather than later and as I was talking about yesterday this kind of initiative to split out the ERC and EIP repos the client teams agreed that they should

split the repos with some objections from some EIP editors and and the core devs will discuss how to move forward move this forward in next week's EIP IP call so yeah as I said the uh thread will be in the YouTube description below but that's basically the gist of what happened on the latest all core devs call all right so I have been talking about this a little bit recently about how the execution layer client diversity has been improving uh pretty sustained substantially over the last few months at least and well I checked last night on client diversity.org and Geth is now under 50 share of execution layer clients you can see here it's at 49.4 percent now uh this data here is not 100 accurate as I have mentioned before uh

no data that tracks nodes and clients is ever going to be 100 accurate but I remember saying that as long as the trend is going where we want it to go whether it's up or down right obviously we want the majority clients to come down we want the minority clients to go up I think you can get a signal from the trend and the signal that we have here is that Geth dominance has been coming down obviously nevermind has been the standout in terms of adoption overall and they've grown their market share quite substantially over the last year but based on Aragon are also there as well now in terms of looking at historical data lxa here put out a nice kind of graphic that goes back to June June of 2022 so about 18 months ago and you can see how the execution layer has

changed over time now this still shows Geth at I think what 60 something percent 66 or something like that uh as as of uh I guess like maybe the beginning of June or something um but yeah as I said like different data sources uh are going to have different kind of ways of showing this data but I think just the overall trend is what we want to be looking at right so the overall trend you can see Geth in in kind of a purple color here has been down uh whereas the overall trend of other clients especially another mind has been up and you can see that Geth dominance was at about what 82 83 18 months ago uh and now it's down to according to this chart around 65 but definitely uh um you know according to other ones it's even it's even uh even

below that but as I said the trend is what matters here and we did recently have another client I mean just a few days ago go live uh wreth right the rust ethereum clients that is currently not showing I believe on on client diversity as its own as its own thing here on clydiversity.org but I believe that there are according to Ether nodes nine not uh ref nodes so far so obviously you know they just came out so we can't expect there to be to be many more than that as I said I have a weekend project to spin up one myself so hopefully I can join The Fray there but uh yeah I mean I I don't really expect to get dominance to to Def to to go back up to 80 90 really ever again it doesn't have any reason to because the other clients

especially never mind and bassoon have gotten so much better over the last 18 months that there's no reason just to default use Geth anymore obviously we have wrath now as well which as I showed the other day I mean it's still in Alpha uh Alpha release right now but I did show the other day that reth's sync time is is really good uh and is it is uh beating Aragon 4 for archive node sync uh there so yeah just just really great to see that the execution layer uh clients have come such a long way I remember saying to you guys the reason why Vegas execution layer clients were lagging behind the consensus layer ones was because the history of I guess the execution layer clients or where really they were just known as clients before um before the merging before the beacon

chain went live they were just known as the normal ethereum clients uh was kind of Rocky we had really two main ones for a long time uh Geth and parody ethereum but then parody basically abandoned that client and then it was adopted uh by or I guess like forked by or taken over I should say by gnosis it became open ethereum and then eventually I mean I guess Aragon is a spiritual successor uh in the end there to to parody uh but that's why gas dominance went up to like 90 plus percent at one point because it just wasn't a really healthy uh you know diversity of clients to choose from I think there was like ethereum J or something like that but I think that's since been deprecated or it's not really worked on that much um but and I think that was built in

Java but I believe I believe Basu is also in Java from from memory uh so so yeah maybe maybe ethereum J became basic but it's been hard to kind of tackle it but that's you know the execution layer or execution clients have had a rocky history whereas consensus clients have not uh they basically most of them came have been building side by side since the beacon chain or I guess like since the initiative to create the beacon chain was was started um I know prism and Lighthouse were were the leaders they were the biggest ones but Nimbus antako have been around and even Lone Star I've been around for nearly as long as them and they all got built uh kind of side by side during those kind of few years there that were being built there so it was much easier for people to pick a client from that uh

because you could rely on those clients but execution layer seems to be pretty much on par now with the consensus uh layer clients uh which is great to see so yeah if you're still running Geth do consider switching over to one of the other clients and you can obviously see them on client diversity.org here all right Jasper from the rockapole community has a really great tweet thread out today it's about 21 tweets I believe but well worth the read so of course this tweet thread is about rockapool uh and about the five upgrades that will scale rocker Paul into the millions of each Stakes now some of these upgrades are coming soon some of them are coming later but they're all these upgrades that Jasper thinks will be able to scale rocker pool into the millions of each state and I've actually

been hipping a close eye on rockapool's market share I believe it's up to 2.91 so so growing nicely growing really steadily there but of course rockapool has some inherent limitations um such as capital inefficiency compared to some other Solutions out there but in this thread just for details the upgrades that are coming in order to make it so that these inefficiencies are not not go away completely but they don't impact the scalability of Rocket pool as much as they they kind of have here so these five upgrades are named Giga pools uh uh DVT and l2s or or node operators on node set here inflation change which has got to do with Oda rewards wallet Integrations and forced exits so you can read this straight for

a full breakdown of what each of these uh things are here but what I haven't mentioned before and actually what's quite relevant is this inflation change now this is basically a major shake-up in how the Odell is rewarded now you guys know I'm part of the Odell and I have been donating My Rewards to the protocol Guild but I think the rockapole community what they see of the odia that they basically what they wanted was a charter of the Odell's responsibilities they wanted uh that to be written out and defined which it has been and they also wanted the amount of RPL going to the Odell to be greatly reduced and it has in the current proposal I don't remember the numbers off the top of my head but you can see here how Jasper has linked it

um the Oda rewards would come down pretty substantially I believe uh they would be a fraction of what they are now I think I mean I don't really pay attention to the dollar value of it because as I said I donate all my all my RPL but I believe right now I'm getting like 600 RPL a month or something like that and that would be hod I remember getting that and I think that's going to be reduced oh I don't remember the exact numbers here it is in this um I'm just trying to find it in the thread here yeah no it is in this uh in this thread here the details around this but I believe that it would be substantially reduced there and obviously uh you know it being reduced means that that RPL was going elsewhere and it's going to be going to the P Dow which is basically

the development and incentive uh I guess Dao of of rocketpool so that RPL could be used to incentivize things like R8 liquidity right instead of going to Oda members which I think is probably a better use of the funds to be honest because look I'm not against the odow being paid for their work especially being paid nicely for the week because they're very important right the odl is definitely a critical piece of Rocket pool but the end goal is to phase it out um but at the same time I think that there's obviously certain limits to it right like at one point I mean not not now but at one point it was around 50 Grand a month through these different members for basically running you know these Odell nodes uh oh I guess like um

running the the smart node software running it on a machine that could do something like tree tree gen and make sure that they could keep up with all the other duties that they have to do like submitting uh like Oracle prices and stuff like that but really most of the time you didn't really have to to do anything it was just automated like for me the biggest thing I had to do was make sure that my Hardware was up to scratch in order to basically do the tree gen um but other than that I just have to make sure that my ethereum address that is that is tied to my rocker pool node is funded with eth so that it can actually do its duties now that is a pretty big expense it's not a small expense but it's definitely not 50k a month there's nowhere near that uh I

don't know exactly how much it is because I haven't calculated it but in terms of like dollar amount maybe it's like a grand a month I don't even think it's that actually it might be might be less than that I don't actually you know off the top of my head because I haven't done the calculation but let's say it's like 500 to a grand a month I know that's a big big range but just to illustrate that that 50k a month obviously is is covering that and more and I believe the last time I looked at the numbers the Oda rewards in USD would drop to like five or six k a month or something like that and again this is just numbers that I'm I'm rattling off here but I think that's actually fine it covers the costs it still provides an incentive for the the members to be

honest and obviously to keep to keep things updated and to make sure that they're being good stewards of um of of the protocol uh but but yeah there has been a long discussion about this and a big discussion within the rocketpool community and you can actually find that in the rocker Paul Discord but that's one of the big upgrades that Jasper is talking about here is that inflation change where that RPL instead of going to the Odell can go to incentivizing um uh uh incentivizing R8 liquidity and things like that and you know just to put some some more numbers on this if I know it's not 50k a month right now because obviously the app PL price has gone down um and but there's about I don't know exactly how many oh down members there are right now I lost track but I think

there's like 20 some 20 maybe Oda members I I don't know exactly I I lost track because they added more and I've kind of uh I've kind of forgotten I always get mixed up between Odell members and um Lido node operators for some reason my brain just mixes them up but let's just say that there were 20 just for for numbers sake yeah well 20 times 50k a month is a million dollars so instead of that million dollars going to the Odell that you know most of it and obviously not all of it but maybe you know 80 90 of it uh after this reduction goes through could be going towards growing the rocketball ecosystem which in turn should raise the RPL price uh yeah because obviously rocket pool growing leads to Direct Value capture for the RPL token which should raise the USD value of of the RPL anyway so ODI

members are better off uh doing this in the long run um as well uh so that's if you wanted to look at it from like an ODI member perspective but at the end of the day I think the arrow down members also realize that their time in you know is limited they are they are meant to be eliminated eventually because they are definitely a part of rockapool that is I wouldn't say centralizing but it is like that that risk there that centralization risk there that does that that hopefully won't exist in in the future um but definitely uh worthy of uh of this thread yeah worth reading this thread from from Jasper to get more information about that and all the other things he talked about I'll link that in the YouTube description below for you to check out all right so Gemini has this staking Pro

product that I actually wasn't aware of uh until today so today they announced that they are expanding staking Pro to users in the United Kingdom uh and apparently they already support like 30 different countries but essentially what staking Pro is is it's their I guess whale offering uh or Gemini's whale offering for staking so if you have 32 eth or more you can run dedicated validators on ethereum through a Gemini's simple and secure user interface so it's basically a way for people who want to stake with 32 eth or more so basically be a a node operator and spin up a validator um but want to do it in an easy and easy way that has like an easy to use user

interface and and user experience there now I don't know uh exactly if this is custodial or not I think it probably will be because I think Gemini is running the validators so it's going to be like a custodial model here um and you have to obviously have a Gemini account to get involved with this and do the kyc and everything so it's definitely not akin to solo staking but I think it's cool that there are companies like Gemini offering something different in the staking space because with coinbase I don't know what it's like for their institutional clients but for retail clients you can't do this as far as I know they don't offer this product it's basically you have like 10 100 eighth whatever it is 32 eighth or more you just go through the normal staking process with coinbase they stacking on your behalf they they manage

all the all the validators there and everything and then you get like that CBE token uh as well uh whereas Gemini is offering just a different product here which I think is pretty cool and as I've said before the the way we're going to make um I guess like no one player be dominant on the beacon chain is by having a competitive Marketplace of different staking services not just lsds but just taking services in in general and I think we're getting much better at that there is so many of these things coming online um so many of them growing it's not you know it's not enough for them to actually come online they have to grow as well and I've mentioned a few of them in the past but I think that I'm I'm just really positive especially over the next maybe 12 18 24 months on on on the

distribution of e-stake I I don't think I know that Lido they have this goal of being like 100 of all Eve Stakes or something like that I don't I think that's like a massive pipe dream and I think they know that as well I think they're just saying that because obviously they want to grow their market chain I don't blame them for doing that as a business you always want to grow your market share yeah but it's just not going to work like that I don't see that I think that lighter the reason why Lido is so big honestly I mean besides having a great product as I've said before and besides having um you know great business development to get people to stake with them I think a major factor and a major reason why they're so big is is just first mover advantage and I think this is a hard

Truth for a lot of people not just with Lido but with a lot of different things in in crypto and outside of crypto is where first move or Advantage is is pretty big it's pretty substantial and it's pretty hard to break it uh and you can see that play across basically everything within crypto and also outside of crypto but at the same time it can be broken it it can be broken through the uh through not Brute Force but basically through chipping out its armor so you can imagine um you know I'm not going to pick on later here but you can imagine like the market leader having you know and they had first mover Advantage having this massive shield in front of it right and this and it seems impenetrable but over time as more and more people kind of like picking prod at it it weakens right

gets weak and weaker weaker over time until eventually it shatters and that market lead is is gone basically so yeah it's not going to happen overnight especially not for any staking where there is fundamental limits put in place with the deposit withdrawal queue to change things but I do think it's going going to happen over time um yeah so kudos to Gemini for launching this if this is something that you're potentially interested in you're a Gemini customer you can check this out I'll link it in the YouTube description below all right so Peter Schroeder here who is a a director at Circle obviously the issuer of usdc has shared today that the team at sap is now testing across border payments for their customers with usdc so those of you who don't know what uh who sap is they're a huge multinational

corporation that is integrated with pretty much like everything uh they're they're massive I mean you've probably heard of them before uh they do so many different things with businesses it's not even funny and they're not a user consumer facing they're B2B so business to business facing so they offer a lot of different Business Solutions two different to a lot of businesses around the world and they are trialing a or testing out usdc transactions on payments uh using their infrastructure here now uh they're doing this on ethereum I believe and using ethereum in the backhand here which is which is very cool to see so just another major I guess like Trad I don't know if I call them Chad Fiverr like traditional company getting involved with crypto now

it's arguable whether usdc is kind of true crypto but I think that's semantics I think that stable coins are the biggest use case of crypto rails uh so far obviously ethereum is the main the main rail for stable coins as they exist today especially for for usdc and it really does speak to that sediment layer uh thesis that I've gone through when it comes to ethereum before um so it's great to see this and you know what could you imagine um sap basically launching their own payments focused L2 on top of ethereum where essentially they offer this L2 to their customers and it doesn't it doesn't have to be a roll-up it could be a validium for example where they store all the data themselves right um and

obviously it's centralized it doesn't even matter if it's centralized because if it's just the payments layer for centralized companies um and and it's using usdc it's already centralized so it doesn't matter if it's a validium and the data's um stored on on sap servers and then the proof is stored in ethereum it's still using ethereum as that settlement layer as that liquidity layer as that um kind of like interoperability layer where essentially uh they can communicate with all these other businesses that are using ethereum as a sentiment layer and as an interoperability layer while having their own kind of centralized L2 on top of ethereum so I can imagine that happening um happening as well especially because you just get way better settlement guarantees with with blockchains just generally right whether

they're centralized or decentralized they give you the you know they give you the same kind of not settlement guarantees obviously they're decentralized and and secure chains give you much better settlement guarantees but in terms of auditability um and in terms of kind of speed of payments uh you know they definitely are familiar there or similar there I should say and especially the l2s that are you know much faster and much cheaper to use while still settling down to ethereum which is not only the global sediment layer it's going to be the global global liquidity layer the global interoperability layer it's it really is going to to uh be amazing to see the whole world one day using ethereum as a as the old ultimate backbone the

ultimate settle settlement layer of the new Financial system there so yeah great to see sap experimenting with this hopefully I hope to see more of this stuff happening as time goes on all right so speaking of l2s sovereign has announced that they're researching ways to combine the user experience benefits of centralized sequences such as soft confirmations with with the censorship resistance benefits of based sequences so there is a Twitter thread as well as a GitHub Pro Str talking about how they're doing this and just a refresher about what a based sequencer in is it's basically a sequencer that uh sorry it's basically a roll-up that uses uh the layer one validators as its

sequences So based meaning that it's kind of um there's a player on word Sienna and it eludes me right now but it was something that I believe Justin Drake uh uh coined here and and as I said it's using the ethereum L1 validators in order to be sequences for the L2 so this is where Sovereign comes in and says that they're doing this research around giving you those really cool and really fast um and really great soft confirmations uh but also allowing you to have censorship resistant benefits uh with based sequences so you can read this Twitter thread I'll link it in the YouTube description below as well as this GitHub post um which is not very long either and you can check on this uh which is just very cool to see from The Sovereign

team here all right Taiko has announced or at least detailed their minimally modified Geth Fork that they're building so you can find this at geth.taiko.xyz and you can find an explainer for what this is in this Twitter thread here uh but basically if you go to the website you can see that uh that that the code is basically here and you can click on each of these things and you can see the different uh links to the different GitHub repositories but basically uh tiger starts to thread off by saying that tycho's network is made up of community members that permissionlessly run notes to propose improved blocks in the spirit of ethereum equivalent Taiko nodes only minimally modify ethereum L1 nodes and you'll remember that Tycho is trying to

be a type 1 ZK AVM which means they're basically trying to be ethereum at layer 2. essentially all the evm at layer 2 here so in this thread they detail that and they link to a bunch of relevant things I just wanted to put that on your radar because Taiko is as far as I know the only type one ZK VM being built right now uh which is very very cool so yeah you can go check this out for yourself I'll link it in the YouTube description below all right last up here we have something out of party Dows so they've introduced something called party which is multiplayer for ethereum party lets groups of any size use ethereum together and it's available now at party dot app so what parties can do is that they can now access all of ethereum they can use

D5 collect nfts play games run a project and more just create a group make decisions and take action together on chain so basically uh the the way they're describing this is that it's more capable than a multi-sig but less work than a doubt it gives your group on chain superpowers that let you go fast and have fun so you can see here if you go to you know kind of like um the groups that are here uh you can go I don't know to click on one this Suzuki one here a01 okay and izuki and you can join this uh party uh you can connect your wallet and then add more eth and this party wants to purchase azuki so they basically uh pull their funds together to purchase the different azuki's I'm sure that there's a community where they'll talk about this

and they vote on it and do stuff like that so it is is really a really cool way to do as I said like more capable than a multi-sig but also less I guess like um less noise than a dowel so it's really just for small groups of people well not necessarily small but like not not huge groups of people to get together and achieve a common goal whether that's in D fire and nfts or elsewhere so yeah you can go check this out for yourself and possibly get involved with it if you would like I'll link this in the YouTube description uh below for you to do so all right I've got a few minutes left Tiara to talk about uh something uh to close out our week I've been thinking about this a lot recently just because I it's it's kind of funny the phase that we're in right

now like the market went up a bit over the last what week and a half or something like that on the back of the ETF hype and stuff like that and I discussed the market the other day so I'm not going to focus on that but it just generally it's it's always funny to see like the sentiment change in in crypto because you know two weeks ago three weeks ago we had the coinbase and binance SEC stuff and and everything was Doom and Gloom everyone's like oh my God it's all over everything's going to zero blah blah you know some people were saying it as a joke but a lot of people were like you know this is over this is the second you know leg of the bear Market this is the true capitulation and obviously there was a pretty big sell-off in everything except really

Ethan BTC they went down too but most of the sell-off was contained in the other assets especially because um you know the ones that were named in the lawsuits against SCC and binance are crashing them they took the whole Market with it except BTC and Heath which was which is kind of funny to see um but generally uh the sentiment then was was just trash and now the cinnamon is like euphoric so what my point here is is that as usual like you shouldn't really be looking at crypto Twitter or anywhere online for sentiment or for any kind of real signal I think the real signal comes from being in this ecosystem for a long time right uh years and being able to differentiate between

what is real and what is just short-term kind of now in saying that I do think that the ETF staff these stratified institutions getting involved with crypto all that kind of stuff is a win change and I actually spoke about this with uh David on the on the roll up you'll hear me talk about it there if you if you listen to that but there's been a substantial kind of change in in the wind right in the direction of the ecosystem in terms of its uh view outside of crypto because before like just three weeks ago or two weeks ago every a lot of people outside of crypto especially uh the politicians and and The Regulators were coming down hard on us uh but over the past week and a half it feels like all of a sudden all these

Trad fire institutions are like no you know crypto's here to stay uh you know powwow even made um uh positive comments on it the SSC hasn't made any moves over the last couple weeks or any big moves that's not to say they won't but I'm curious to see if they will at this point um and sentiment has obviously reflected that so there are times when sentiment reflects the reality which I think that's one of these times now I think that in 12 months we're going to be looking back at this and being like well okay that was where things changed that's where things actually got positive again and that's where maybe you know the early in the early inklings of the bull market started right where there was kind of that that shift in in mindset there um but there's been a lot of these

things right over the last what 18 months during the bear and crab markets where people thought okay the winds change now okay it's positive now um and then they just get kind of I guess scammed by the sentiment so to speak right so I think that it's always good to keep that in mind it's always good to to to uh take this as a learning experience as well because as I've said plenty of times on the refuel you can't be taught this stuff you can't be taught how to be a long-term thinker a long-term investor you can't be taught wisdom uh you know there's a difference obviously between knowledge and wisdom and uh wisdom comes from experience and just by definition you cannot teach that so this is when you pay attention you soak it all up you you kind of make sure that you actually understand what's

happening and then that becomes your wisdom that becomes your experience that you can lean on for future cycles and this is why very rarely does a first cycle I ever ever actually play the game right it's usually the second or third and for me I mean it was like my third cycle where I actually made you know made money from crypto if I'm talking about the investment site for investing side of things whereas uh some people you know maybe they do it on their fourth cycle their second cycle but major vast majority of people I would say 90 something percent of people do not make it on their first cycle and by make it I mean like make a substantial amount of money right and and keep it as well because a lot of people end up losing it too and that's because you need to to get that experience you need

to acquire that wisdom and that cannot be taught it doesn't matter how many times I tell someone to do something or not something I you know I've told some people before not necessarily um you know what to invest in when to sell and buy but I've said you know this is the way I play these things this is how it happens and most of the people that I've I've told this to they kind of of get very disinterested very quickly because especially in my real life people ask me you know what you what you know what do you do you know and I'm like okay I'll do this crypto thing blah blah you know I work for myself whatever um and then they're like oh that that you know that's obviously really interesting uh uh you know uh what did you do and I'm like okay well what I did

was I I started investing in crypto in 2013. I blew myself up in 2014 I lost most of the money that I put in then I left crypto then I came back in 2017 and all those lessons that I had learned in 2013 and 14 I applied again and I just started investing for the long term slowly I didn't trade and then I got involved with the ecosystem I you know started Landing Landing I advisory advisor ships I started doing a lot of educating I started doing Angel Investing uh and you know 10 years later I am in the position that I am now and then they look at me and they're like oh like they don't say anything but they look in their face is like wow okay that sounds really hard it's like yeah of course it's hard it's not easy like who said it was easy just because

you see on the news that some dude got you know made a million dollars overnight or something like that it's just the mainstream media just looking for clicks right the reality of the situation is that investing is freaking hard right it's really hard um and and not just investing but just like working towards anything in general requires Hardware it requires sacrifice it requires a long-term mindset so whenever I see people uh just just uh looking at me like that I'm just like wow you never really cared in the first place what you wanted me to tell you was this is how I made uh you know money this is how I invested in crypto if you do this as well you'll be as successful as I've been which is not the reality at all so yeah and I think I'm preaching to the choir here because I truly believe

that anyone listening and watching the refuel is a long-term thinker long-term Builder long-term investor learner um and uh you know I'm great to have you guys alongside me on this journey but there is the majority of people who are not that and at the end of the day they're the people that actually uh fuel the bull markets because like people don't want to admit this but you need the dumb money for the bull markets because if everyone was smart money if everyone knew the game then the bull markets wouldn't be fun the bull markets wouldn't be as volatile as they are because everyone would just be playing against everyone else and that's actually what we see right now in the crab market everyone knows the game like everyone's just trading against the same experienced people and it's what happened to professional poker everyone got too good they kept wiping the floor

with the noobs and then no noobs came in and all the professionals were just playing against each other and that was boring they couldn't win against each other there was no um there was no easy money to be made anymore right there was uh it was it was harder to make money so the same thing is going to happen to to crypto eventually but I don't think uh anytime soon because there's just still so much uh I guess dumb money you can call it to to to come in uh but but yeah that's just the reality of situation and the hard truth I don't think many people want to hear but anyway that's enough on that little rant there thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord

Channel and I'll catch you all next week thanks everyone