Debunking fud, Ropsten issues and more - The Daily Gwei Refuel #373 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the deli way refuel why cap the latest news in the theorem ecosystem i'm your host anthony susana and today is 27th of may 2022 all right everyone let's get into it so i had crazy 24 hours in the crypto ecosystem a lot of fun around ethereum a lot of fun that i'm probably gonna have to spend a bit of time debunking here um and i made a kind of like list uh kind of pr that i'm gonna go through but basically i put out a tweet today where i say you know holy [ __ ] the amount of fun being thrown into ethereum today is just too much the worst part is that the flight is so missed informed that i feel like i'm back in 2018. i encourage all of you not to just read random tweets and take them

as fact and then i listed out some of the fud here people brought more fun to my attention that i didn't that i kind of like i didn't remember basically the beacon chain real quiet from people who don't understand it now i've spoke about this yesterday so i'm not going to rehash this here but there was a good uh tweet thread here from martin uh martin koppelman the person who put the out the original tweet thread i highly highly recommend going and giving this a read because it basically describes exactly what happened and why it is unlucky to happen in the future and what you know what fixes are in place and things like that but the tldr just for those who didn't maybe didn't kind of like understand my explanation yesterday basically what happened was that one set of clients had uh one kind of like fork choice rule

that they were kind of adhering to and what the fork choice rule means is basically uh when kind of like validators are building kind of like blocks and building on a chain there the fork choice will kind of like dictates kind of what happens uh and kind of like what chain to build on what chain kind of like that where the head is so if you don't understand kind of like that terminology this is just kind of like fundamental blockchain stuff but essentially what happened is like half of them had uh the kind of like proposer boost feature and half of them didn't which meant that uh i mean there wasn't a kind of like a failure of consensus but it meant that uh one of them was kind of like working so one set of validators was working faster than the others and then there was kind of like

that real that happened but i i highly recommend giving martin's thread a read here as it explains it much better than i can and it was a really really great thread uh so that that kind of like fud is pretty much debunked at this point but i still saw people spreading it it's just really silly fun and then the second one was some people are saying that the beacon chain doesn't have finality which i was like what the [ __ ] yes it does it has finality every 12 minutes every two epic so an epic is six minutes uh and then every two epics we have economic finality which means two thirds of the staked eath uh basically puts its weight behind uh everything up up until that point uh not being able to be kind of like uh uh kind of like real basically or kind of

like uh uh a changed and if it does attempt to be changed well then that two-thirds of eighth would kind of like get slashed uh we have those in protocol mechanisms i think there were some people who said well what we really meant was uh you know instead of finality we meant fast finality which is what something like tendermint has uh and ethereum is working towards faster finality but the thing is there's a reason why we didn't do fast finalities because with fast fundamentality you're limited to the amount of validators you can have on the network and ethereum obviously wanted to optimize for as many validators as possible and that's why they went from kind of like that 12-minute finality instead of fast finality which is usually much quicker than that but there are upgrades coming that would um that would kind of like put that into

ethereum or make finality faster but ethereum the beacon chain does have finality right it's just uh not the kind of like fast finale that you may see in some other chains that have kind of like made that other trade-off of having less validators uh become like faster finality there and then uh third here uh which is about then so people are saying that because some miners threw more hash at rops then it means the merge on mainnet is super risky so what happened with robston basically there's a few threads here that i want to kind of kind of highlight uh uh not not this one uh where's this one this one here from preston van loon who kind of like put a screenshot out showing that robson's hash rate actually spiked now as you guys know robsten is going through the merge transition on june 8th uh and it had a ttd value kind

of like even to it which basically meant like once it reaches this kind of like difficulty uh you'll do the merge now uh some miners basically trolled robston through their hashrate behind it and sped up ttd which meant tdd actually happened uh yesterday i think or today like earlier today um and you know that's just that's just being kind of like uh reconfigured so it'll happen later it happened at the kind of like the original time but essentially it was just a troll attack from i mean i don't know what to call it attack it's just like a troll from miners and this can't happen on main net so it doesn't even matter this is literally a waste of time for for core devs now they have to kind of like deal with this because this is impossible to happen on main net well i

mean not impossible but extremely unlikely because to do this on main net you would need to buy like a [ __ ] ton of miners right and point a [ __ ] on a hash at ethereum which is infeasible uh and and um basically uh there's a couple of threads about the robson issue one here from tomas which has a detailed description of the robston ttd issue that you can go and check out um but also kind of one here from doug who says why the robston ttd attack is not feasible for the merge on ethereum mainnet explains it i'm just highlighting these threads because i want you guys to to kind of kind of give those uh a kind of uh a read there and then there's one here from lawrence who who kind of like uh gave more context about what happened with roxton here but yeah essentially

what happened was the i guess the tldr of tldrs is that mine some miners put hash behind robs then they sped up the kind of like timeline to getting to ttd ttd was reached uh and then kind of like the quarters like well we obviously don't want it to reach now because the robson beacon chain isn't even live right like the robinson beacon chain doesn't go left on the 30th of may so there's no merge going to happen uh but as i said it's just been kind of like a waste of time for quarterbacks because they have to deal with this and as i said it's more of a troll than an attack because it doesn't really attack anything it this is not a feasible thing to do on main net so it's not going to affect the mainnet merge at all uh and it's just like a waste of of cordeb's

time to kind of like deal with this now so that was that kind of like flood there then there was uh some some more fud around ah where is it i'm going through my tabs here um i mean someone put this out as a joke saying that there was a massive eight-year vesting unlock from the ico that started yesterday and i was like what like and then they said oh i'm just joking but like the thing is a lot of people believed this it wasn't just a joke and there was someone on a podcast i think scott malka with you kind of like a bunch of people talking about this as if it was fact and i was like what the [ __ ] is going on like sorry for the f-bombs lately guys but like my mind like right now is just anyway what happened was this person put out

the tweet and then someone ran with it and then people kind of like believed that guys the ethereum ico had no vesting there were no tokens unlocking everyone that got their eighth from the ico either he's still holding it or has sold like there's no vet there's no more heath to unlock especially not after eight years like what the like i i just don't know what's going on like why do people believe this to begin with but anyway this is totally false not true at all just wanted to kind of like cover that as another bit of um of fud that i've seen and i'm sure there's other bits and pieces here that i've kind of like uh that i've kind of like missed uh or kind of can't think of right now but that was it for the last 24 hours in in fud land guys like i am i'm just like so

puzzled like i have to be honest with you like as i said i haven't seen this amount of just like stupid fud since the 2018 bottom and i don't know if the markets are gonna bottom here i'm actually gonna talk about the market in a sec but like i don't know if the markets are gonna bottom here i don't know if it's gonna go lower than what it is now i don't know any of that sort of stuff right you guys know i'm a long-term investor i don't really care about the short-term stuff but in saying that there is a saying narrative uh is dictated by uh kind of like price where were all these people flooding eth when it was at a higher price like when was weeks with 3k plus where was all this fight it didn't exist right and now that eth is like i guess

1800 whatever it is right now people are now saying things like oh the merge is like super risky we have to risk off eighth because it's like super technically risky look at the beacon chain look at the reorg that happened there oh the ethers don't know what they're doing blah blah you know all this kind of like just flood becoming i know because the price went down right so i put out a tweet right where i basically said until you realize that narrative follows price and not the other way around you're not going to make it pay attention to how many people are now coming out of the woodwork to be bearish on 8th based on some narratives just because it went down in price so if someone is literally just changing their opinion on on an asset because it goes up or down in price that someone is not

worth listening to in my eyes yes you can have a thesis that doesn't play out and you can kind of like admit okay well i had this thesis i was bullish on it it hasn't played out you know but you're not changing uh your thesis just because the price went down you're changing it because the fundamentals changed right there's a very very different thing there so so that's that there but there was this tweet here from joseph lubin that i thought of today and this is one of the most legendary tweets i love this one he put this out on december 22nd 2018. this was six days after eighth bottom that eighty dollars in 2018. he said i am calling the crypto bottom of 2018. this bottom is marked by an epic amount of fear uncertainty and doubt from our friends in the fourth and

crypto fifth estates now he has a little thread here but that's like kind of the gist of it there so he called the bottom pretty pretty spot on here but pay attention to that this bottom is marked by an epic amount of fear uncertainty and doubt that's what i felt over the last 48 hours an epic amount of fear uncertainty and doubt now what i really want to highlight for you guys is the replies here this is just chef's kiss the replies are very similar to what uh we're seeing today this person here with all due respect the bottom isn't in however i am holding a beat to see in ethan wouldn't sell any of it because they're both going to make new all times highs in the next in the next five years right so they obviously got the um the second part right there but like the

bottom isn't in right like so confidently with all due respect the bottom isn't in right um and then there's there's a bunch of these kind of like replies here there's there's uh uh i'm just kind of like scrolling through them here i should have saved them before uh but basically you know i'll call the bottom one when you particular uh capitulate hell no you know this isn't this isn't the kind of like the bottom the bottom uh where else is there's a there's a bunch more here [ __ ] doesn't have a bottom i am calling the bottom uh you know oblivious blah blah blah oh man there's there's this one tweet that i really wanted to highlight for you guys i should have kind of like brought it up before uh before i kind of um oh yeah from tadpole he said crypto has never experienced a true bear market

in the overall economy i don't think we can call bottom until we see a bottom in the stock market we're in uncharted waters for crypto you could take this tweet which was put out december 22 2018 and literally reposted today may 27 2022 and it would sound exactly the same and it would mean exactly the same as it meant back then there are the same people saying this today i'm not saying people there there are sim there are similar things being said today oh you know crypto can't bottom because the the overall economy is in the [ __ ] like crypto has to go oh sorry the stock market has the bottom first all these sorts of stuff right uh like it's just it's crazy like i i really like going back and learning from history because it never changed like humans don't change right like where i mean tim

shaughnessy i think tim shawn and tom shawn someone i can't remember his name right now on banquet has been to a podcast recently on on there but he said that we all run human os and human always doesn't get an upgrade for thousands tens of thousands of years because human evolution takes much longer so think about financial markets over the last 100 years humans haven't changed at all so you can go back 100 years and humans will have been the same back then as they are today in their reactions to markets and just going back and learning from that history can actually help you and help you stay grounded so i just wanted to highlight these kind of like replies you can you can keep going it's like i think apathy will mark the bottom commodities can grind sideways for years those who know it best love at least

because they have been disappointed most many projects don't need a token as part of their architecture again take this tweet post it today it's the same it's the same thing right like eighth is a dead coin um ether is gonna have dumped a 50 usd in a week right look guys i'm as i said i'm not saying that right now is the bottom like all the 1700 is the bottom i don't know where the bottom is but just reading the replies to this tweet when ether had already bottomed mind you it had been six days since eighth hit 80 bucks i think joe put this out when it was about 95 100 so ether already bottoms but people didn't believe it because people were like really bearish it works both ways on the way up guys like on the way up people were calling for a 20k eath right

i know i was saying it could possibly go there i you know who knows right it's a bull market but but the thing is like okay that's a bull market and they were in a bear market and the people calling for things like triple digit eath doesn't that sound the same as someone calling for 20k in in terms of kind of like the greediness so bears get greedy too right they may have like shorts open that they don't want to close yet or they may be sitting in cash and they want to buy in at the cheapest possible price they're going to say whatever and at the end of the day no one has a crystal ball no one has any idea what the price is going to do in the short medium even the long term you make your bets you place your bets you

just never 100 certainty in anything in investing ever and that's the cardinal sin of investing is thinking that it's a sure thing right as bullish as i am on eath there is no way in hell that i would ever say that our 8th is 100 guaranteed to do this or 100 guaranteed to do that because i can't guarantee that i can't tell the future if i could it'd be a lot easier to invest but alas i'm not uh what's that character from back to the future right that kind of i had the sports almanac i'm not him can't do that so when you're looking at the markets when you're looking at the public commentary on twitter when you're looking at kind of like fudd when you're looking at people kind of like calling for like ridiculous prices either way i'm not just talking about down i'm

talking about up as well um just remember that no one knows everyone's giving an opinion there's not a fact so just do not listen to them as if they're saying something that's a fact you have to position yourself for what suits you best you buy when you want to buy when you feel like is the time to buy maybe you're using a guy maybe there's someone you follow that has a really great model for buying bottoms and selling tops you can follow that maybe it works maybe it doesn't there's no guarantee that it's gonna work but you're free to do what you want but what i'm saying in general is that you need to just like understand that narrative follows price people say [ __ ] about price all the time everyone talks out of their ass basically about price no one knows where

it's going to go and uh and you and as long as you kind of like come to terms with that i think you'll do well over over kind of like the longer terms there but uh i think that might be it for another daily way uh rant here but uh yeah i just all these kind of like tweets and everything will be linked in the youtube description you can go check out for yourself but i mean the the fight around robson was super hilarious to me it's like guys it's a freaking test net like like why are you fighting and like it has nothing to do with main net either it's not like this is going to impact the main net merge and all that sorts of stuff and then the continued beacon chain fight it's like oh my god you know seven block reorg is is

catastrophic i mean to be fair a seven block reorg if uh if it was post merge and there was a lot of activity in the blocks and things like that would have uh probably hurt some users because of the mav implications but uh the thing is people are acting like it's the end of ethereum they're acting like it's a fundamental issue with a theorem proof of stake when it isn't ethereum proof of stake works fine if 100 of the clients were running the proposer boost this would never have happened and now i'm sure a lot of more clients have updated as i said they're going to be forced to update anyway as part of the hard fork that's coming for the merge related fork for the beacon chain and even martin said in his thread that he doesn't expect there to be a reorg like this on um

post merge uh at all and i don't expect that either like it's just it's just funny when you kind of like look at this sort of stuff because it's just it's so it's not complex like there are there are kind of like threads out there explaining it like you're five i'm trying to explain it to you guys as best as i can uh you know there are smart people telling you that guys like this is not the issue that everyone is making it out to be right but as i said worst case scenario is if something like this happened post merge there would be mev consequences here and users would probably lose money in that sense but i mean it just depends right depends what happened in those seven blocks obviously so yeah anyway i'm gonna move on from that now i've got some other things to

get through but i'll link all of these tweets in the youtube description for you to check out all right so john here from adelphi digital put out what i truly do believe is that the definitive deep dive on ethereum's roadmap so it's called the hitchhiker's guide to ethereum it is long and dense guys like this is not light weekend reading this is sitting down removing all distractions and reading it and taking it all in because you can see i'll scroll through it here it's very very long and very dense and lots of technical jargon and this is basically everything you need to know about ethereum's roadmap all in one piece and there's chapters you can go through it if you don't want to read about certain things but this is deep so

if you're interested in being as up-to-date on the ethereum uh roadmap as possible from a technical level as well then this is the guide to read i just think this is absolutely awesome like the fact that someone has put this together is great because i'm going to link this to everyone from now on and be like hey this might be a bit technical but if you really care about uh what's coming for ethereum ethereum's roadmap in general this is what you should be reading and i actually haven't read it yet like i mean i haven't had time to read this today i only saw it today and it's like it's really really long but as i said not light reading sit down with a coffee cup of tea whatever you drink maybe a beer right on on the weekend i'm in the weekends tomorrow off at least it is for me oh no

it is for everyone right like my weekend's much closer it's like 11 30 p.m right now but um and just read it right just read through it take it all in don't uh kind of like feel bad if you don't get it the first read through as i said it's technical but if you do want to kind of like get really up to speed with everything you can do it and you can see at the top here it's a 52 minute read maybe it takes you an hour to read it takes you a bit longer but it's a good saturday afternoon or something read i think i'm definitely going to try and read it over the weekend that's for sure but yeah just wanted to highlight that and thanks to john for putting this together amazing work here all right so speaking of great work

pseudotheosis put out another tweet thread all about the layer 3 paradigm shift in blockchain scaling so obviously we'll link this thread in the youtube description below for you to go check out but i've mentioned layer 3 scaling before it's something that starkwear's been talking a lot about and i've said in the past that i think that uh the the terminology like i don't know like i'm going to capitulate and just start using this terminology uh the layer 3 terminology because people are just like more and more using it but like we love to confuse people in crypto that's for sure but at the end of the day like the mass adoption and end users aren't really going to care about terminology like this they're not going to be talking about layer 1 layer 2 layer 3 layer 4 whatever they're just going to be like using the apps

basically right so i wouldn't worry too much about that so but if you do want to learn about what layer 3 is from one of the kind of like best twitter accounts that i follow pseudotheos which you should be following by the way definitely kind of like check out this this twitter thread um for kind of like a little break down here and then links to more information about this obviously mutablex being built uh with starkvs technology is using this starkware's been pushing it and really i mean from what i've read and from the people i respect as well it really is a paradigm shift in blockchain scaling where layer 3 will still settle down to ethereum layer 1 but it goes through layer 2 to get to get down to layer 1 and it just gives us what i think people are calling fractal scaling

which i think pioneer had a thread about the other day i mean of course they had a thought about it but you can go check out their kind of like twitter feed for um for that thread i don't have it handy right now uh but yeah i just wanted to kind of like highlight this thread from pseudo theos for you to go check out all right so another update from immutable today they've launched metamask mobile app support on the immutable x protocol so if you are using the immutable x kind of like protocol here the layer 2 network you can now use it with metamasks mobile wallet app so if you're using the mobile wallet app or minimize well then you can deposit withdraw um eth and a bunch of other tokens purchase and sell nfts and manage your nfts and you can try it now at this

link which of course i'll link in the youtube description i love seeing this you know we obviously need support from all wallets mobile desktop hardware whatever it is for these layer 2 networks because that's the future of ethereum as you all well know i don't have to like i'm preaching to the choir by saying that but it is and i'm just glad to see more kind of like updates coming out of the immutable ecosystem here and they had a bunch of updates yesterday they're more today they're really kind of like i think getting into their stride now i'm boarding a bunch of kind of i guess um sorry i'm boarding a bunch of teams uh doing a lot of business development behind the scenes uh scaling more right working with starkwear to scale even a bit more with layer threes and stuff like that doing the interoperabil

interoperable liquidity for nfts like they're killing it i think at the moment i'm really excited for the for the future of immutable here i mean i'm gonna i should disclose that i'm an investor in immutable uh but i'm an investor because i was bullish on the project right i think a lot of people seem to think sometimes that people kind of like talk about their investments um because they want to shield them or they only invested in something because uh uh because they got access to it and they want to shill it like and they're not really bullish on it like no guys like i'm bullish on like if anythi any project that i've kind of like invested in i kind of like i i'm definitely bullish on right like i invest in because i have a thesis on it i want to see it kind of

like grow i want to see it succeed but i just disclosed for you guys because i it's just what i do on the show right i always disclose my these things here so i just wanted to get that out there but i mean again go check out this from immutable i think it's a really cool little feature all right finally here we have some i guess dramatic news uh or i guess like dramatic kind of like events happening right now so leighton here from pull together put out a tweet thread by by started by saying as some of you know i'm currently being sued personally in a p p putative is that supposed to be punitive punitive i don't know punitive class action lawsuit i can't speak about it publicly because the litigation is ongoing but i want to share some context and ask for your help so essentially

what the lawsuit is is it's come from uh i think someone who is an ex-staffer of elizabeth warren they deposited like ten dollars into pool together or something and now they've kind of like lobbied a lawsuit against leighton personally for pull together now obviously leighton can't talk about the details of kind of like the case and everything like that so we don't have many kind of like details to go on here but i think if you read between the lines and kind of like get underneath it you will realize that this isn't just a kind of like attack on pull together this is an attack on all of d5 because it's it's a baseless lawsuit like it makes no sense especially to go after something like pull together which is probably the least djen it's not even degen like pro d5 protocol in existence and it's just

ridiculous that like someone would go after them but i think there's ulterior motives here there's definitely kind of like an underscore of of the wider different ecosystem here um but the reason why this was brought up was also because uh leighton's raising funds by uh kind of like selling nfts in order to cover his legal expenses uh they've already i think spent uh a a considerable amount of money on on this i'm not sure exactly how much i don't know if the number was actually named and it's probably going to cost them a considerable amount more i'm only learning this uh recently as well because i'm not familiar with the us legal system but apparently anyone can sue anyone for any reason in the us which i find incredibly bizarre and backwards but it is what it is and obviously kind of like um legal help is not cheap

right so i think it's going to run into the millions of dollars from from what i can tell in terms of legal costs to for later to defend himself against this and as i said it's actually uh you know we you the thing is even if you don't like pull together for whatever reason i mean like it's kind of weird if you don't like pull together even if you don't like laden i mean i don't know the the guy personally but um you know for whatever like you should in my mind you should still like mention nft will make a donation disclosure i minted in nft um there's one of the 0.18 ones but you should still do it to support his fight in order to protect d5 more broadly because if this person was to win their case against pull together that's a very

bad precedent and very bad kind of like um kind of like future i guess like precedent for the rest of d5 so we have we don't want leighton to lose this both obviously i don't want him to lose it because it's a personal kind of like lawsuit and uh uh and kind of like i don't want him to be uh kind of like hurt by that but also uh because of the kind of like wider implications for the defy space so anyway i'm just kind of recommend uh not recommend but just like suggest if you guys do want to donate definitely go kind of like donate and mint an nft or whatever and you can do that uh but basically um uh from kind of kind of like from there uh other other things you can do to support is kind of like retweet this

share this talk about it make sure that people know that this is a baseless kind of like lawsuit uh from from what you from what we can tell and it doesn't actually make much much sense at all now i don't know who's gonna win here i don't know if leighton's is gonna win i don't know if this other person's gonna win um but yeah we definitely need to be defending ourselves against attacks like this because they're gonna keep coming as i said guys like regulation's gonna ramp up especially in the wake of the terror collapse it's coming like i mean maybe we haven't heard much about over the last few weeks but trust me guys it's coming like it's it's it's not like they're just gonna let that kind of like slide and people aren't and things aren't gonna be regulated now it's coming unfortunately but the best thing

we can do is i mean the first best thing we can do obviously is build truly decentralized applications that can't be stopped now that won't protect against people getting kind of like um getting sued personally but will protect the actual protocol uh second best thing we can do is basically prepare for these kinds of things right and kind of like come to terms with them but also educate regulators and educate lawmakers and educate politicians to make sure that the regulation isn't too uh owners or isn't too kind of like uh harsh or anything like that and and actually makes sense because whether you guys like it or not it doesn't matter what regulation it is it's coming like there is going to be some regulation of this industry now the places that they're going to regulate are as i've mentioned in the in the past the the um kind of

like pa uh the um it's the paths of least resistance stable coins defeat on-ramps you know centralized exchanges generally they're all just gonna kind of like get regulated to [ __ ] basically now there's good regulation in terms of kind of like stuff that doesn't hurt the industry and by that as much as i hate them like kyc aml i think is really dangerous in its own right but that sort of stuff doesn't hurt the wider industry i don't think right but what what would hurt the wider industry is if exchanges were forced to not allow people to withdraw from the exchange to their own kind of like ethereum address for example that would definitely hurt the industry in a really really big way and would be very very bearish at least in the short to medium term for anything

got to do with on chain stuff especially if that kind of regulation came from a country like the us so we don't want that happening but these other sorts of things like maybe you know requiring exchanges to report more stuff blah blah blah i mean it's already happening maybe they just make it stricter whatever like you you kind of like understand these things once you use a centralized exchange that this is all happening and that's as i said that doesn't affect really the broader uh like bull case for crypto because centralized exchanges have always been regulated like this um but something like banning you know or i guess like clamping down on stable coins so that only white listed addresses can use stable coins on chain that again would hurt the ecosystem so we have to be mindful of that we have to kind of like

fight against that sort of stuff but in general there's just you're naive to think that there's not going to be regulations there for sure is just need to make sure that they aren't too honor or onerous or harsh on the wider ecosystem there but definitely go support leighton if you want to i'll link this in the youtube description uh below i got a couple of minutes left here there was one thing from the market talk that i didn't touch on that i just wanted to quickly touch on here guys i've seen some of you talk about leverage in in the discord channel again uh look i'm not gonna tell you what to do with your money i'm not gonna give you investment advice but please understand what you're doing when you get on leverage like i i don't know like maybe i i maybe i warn about this too

much maybe i just sound like a kind of like angry parent not an angry parent but like an overly concerned parent at this at this point right i have seen too many people blow themselves up and then spiral into a depression i don't want that happening to you guys do what you want with your money not investment advice just general kind of advice of be careful with leverage especially in markets like this where no one knows where it's gonna go no one knows if it's the bottom no one knows if we're gonna bounce from here you know no one knows it's actually like like if you're gonna use leverage like this would probably be one of the worst times to use it and i don't think there's any good time to use leverage really but like this would probably be like one of the worst in my opinion but

again like not investment advice guys please don't take it as that just take it as general be careful like it's super risky you can blow yourself up and the worst thing as i've said plenty of times the worst thing in investing in grip especially in crypto is blowing yourself up and then having to sit on the sidelines while everything just pumps and gets ahead of you especially if you've been in it for a while for years and you just destroy your position before a new bull market starts i've seen this happen to multiple people it's not good anyway i'm going to end it on that for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all next week

thanks everyone