ETH stake reshuffling, Sismo roadmap and more - The Daily Gwei Refuel #611 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the liquid refuel where we cup latest news in ethereum ecosystem I'm your host and there is Asana it has the 26th of June 2023 right everyone let's get into it so we have an update on coinbase's a case with the SEC here so you can see here Bloomberg crypto reported that the U.S Supreme Court sided with a coinbase unit in a ruling that reinforces the ability of companies to channel custom-made employee disputes into arbitration and Paul Grewal uh coinbase is cheap legal officer here quote tweeted this and said we are grateful to the Supreme Court for its careful review another another example of why I believe in the American court system the rule of law is sometimes slow and at times disappointing but it remains our last best hope in an imperfect democracy

um and then you can go read the full details of this in the Bloomberg crypto report but from my understanding the reason why this is good for coinbase is because arbitration favors companies over I guess the regulatory bodies now I don't know the details of all that because I am definitely not up to speed on these of things but the fact that this is good for coinbase means it's good for crypto obviously we want coinbase to win their case against the SEC we would also like binance to win their case against the SEC which is kind of funny because I've been a bit harsh on binance I think and very favorable towards coinbase and I have my own reasons for that I mean I've been around since binance has been around I've seen everything they've done all the good that they did and all the Shady stuff

that they've done uh you know and and there's a lot of shady stuff that they've done that people just don't know about right and I don't I think they're a lot better these days as an exchange and they've cleaned up cleaned up their act a lot but still you know if you've been around like I have you've seen all the history there and it's it's kind of not the best and don't get me wrong coinbase also has some black marks against its history as well but nowhere near as much as binance and I doubt coinbase has done anything anywhere near as Shady or anything shady really compared to finance especially because coinbase is based in the US very heavily regulated there um and I think that there was some insider trading stuff that happened uh that was prosecuted by the US authorities and and you know and

those employees will obviously uh let go or end up get paying a fine or something else like that but generally yeah I definitely do have a much more favorable view of coinbase than than binance for for those reasons outlined but I still would rather binance win their case against the SEC now but in this case is a bit different as I've explained before because they're a kind of a criminal charges against them for things such as uh I don't know trading related things I can't remember the exact charges off the top of my head whereas coinbase it's really just two main things it's a trading of unregistered Securities and they listed a bunch of tokens in the in the suit and also for their staking products which the SSC claims are also Securities right so it's it's definitely focused on the security stuff and not

and on any kind of um criminal insider trading or anything like that in that suit there so it's yeah it's just great to see that coinbase has gotten a win here um I really do want them to win their overall case it's going to take probably years to play out as I've mentioned before but I figured that I was just I would just update you guys on this because it was an interesting thing that happened over the weekend all right now a Twitter account called poop man a defy rookie on Twitter put out an interesting tweet uh showing uh a staking related tweet here saying although the growth of each staking has slowed down over the past 30 days I'm still very optimistic about the LSD market so uh poop man has checked doing analytics for some interesting stats around the different staking Services

the fastest growing over the last 30 days was a swell Network at 58 state or plus 58 staked and figment at plus 57.5 staked and the largest outflow is Hobby at 27 point negative 27.2 percent and bit stamp at negative 21.1 percent now fun fact for those of you don't know figment actually has I believe around five percent of all each Stakes under their control there and I didn't even know that I wasn't even aware of that so they're a pretty big player they're not just a small player here and obviously they've increased their market share recently I think a lot of that was due to uh Celsius uh unstaking from Lido and going with figment uh with a lot of their stake so so that was why figment grew there but still it's great to see

that it's coming out of dominant protocols uh or dominant kind of areas and going to The Underdogs here as well definitely being the biggest Underdog considering that they haven't been around for very long they're you know obviously very new and they're starting from basically zero as of a couple months ago I believe uh but yeah you can see this do not leaks kind of table here that shows the percentage over the last uh 30 days or I guess like the past month uh showing the state growth of swell and figment and also Kiln uh which is also another big operator on on the beacon chain uh you've got okay X Rocker pool unidentified staked us Lido frax finance and binance being the winners here and you can see their Market shell I'll link it in the YouTube description below and then a bunch of losers the

losers are pretty much all the centralized exchangers cracking coinbase bitstamp and hobby which is I guess kind of good to see that the steak is coming off centralized exchanges and this may be due to the regulatory stuff especially with the SEC going after coinbase for their staking products I think that definitely points to uh to this outflow here because you can see here coinbase is 62 000 uh eighth has flowed out of their staking product but also I'm sure there was an element of uh Arbitrage going on between CB eth and and Beacon chain Heath because if CBE is at a discount you can buy it and then arbit for actual Beacon chain Heath withdraw that from coinbase and make more eth doing that there and potentially make more dollars there through that Curry trade if you uh play it right if you if you kind of like head

your your bets there right so cool to see that they just wanted to highlight that for you guys that the great E3 State uh there great uh reshuffling of e-stakes is actually happening as I've said before it is slow process but it has actually been happening here and you know it's funny poop man said the growth of e-staking has slowed down over the past 30 days but it kind of really hasn't I mean the amount of validators in the queue is still over 90 000. so in terms of I guess slowing down it means that it's not it's it stopped going kind of like up only basically it it it's basically hovered at around 90 95 000 in the queue but hasn't gone gone beyond that but that means Ace taking is still growing right that means there's still more eth coming in there's still more

inflows into each staking and obviously with the execute has pretty much been almost entirely empty for the entire time since um you know since that that just that Spike post chappella uh so yeah just each taking continues to grow and and it continues to grow in a really Diversified and distributed way now it's not like all e-stick is going into one service anymore it's actually being spread out and obviously Lido is still in still pretty dominant still has some pretty big inflows here but a lot of the other protocols have as well you know and it's not like Lido has like all the inflow which is great because one of the things that I think a lot of people in the ethereum ecosystem want to see is not only Lido's market share going down because people are stake uh reshuffling out of lighter to something else but

also steak being distributed to other services uh you know other than Lido and centralized exchanges but of course ladder is is a big beast right later makes it easier people to stake but as I said before the more competition the easier it is for everyone to stake and the better it is overall for Eve staking here all right so on to some L2 stuff actually I'm going to talk about this after I talk about a bunch of these L2 updates because this is a longer discussion so first off I just want to start with something that ZK sync announced so they've shared their first draft of something called the ZK Credo which is a declaration of the foundational principles of the emerging ZK powered incident value V1 is now live on GitHub for Community discussion and feedback from the credo's rightful owner which is you so uh basically this I

guess is a um constitution of sorts or a or a mission uh I guess statement of sorts or Mission or a values aligned document here from the ZK sync Team all around uh ZK as a technology so you can check out this I'll link in the YouTube description below but it basically goes over some of the principles of the ZK Revolution such as Integrity privacy and magic of course because a lot of the ZK stuff definitely is it can be sometimes indistinguishable from Magic and then a bunch of other principles such as trustlessness security reliability privacy in a bunch more here and then setting the collective action that we're all in this as a collective right well and this is an ethereum Collective as a as a as a collective of people that are

interested in ZK technology and we all play a role in moving this technology forward so I thought this is a really great document and it's not a finalized document as I said it is a draft and they're looking for Community input on this and looking people to help them help them kind of uh uh find uh help them kind of edit this and put this together and it kind of is like a living breathing document uh at least right now uh so you can check this out for yourself I'll link in the YouTube description below but just a great initiative from Mata Labs which is the team behind ZK Sync here and they also have a detailed breakdown in their Twitter thread around this as well so you can go check that out for yourself I'll link it in the YouTube description below all right second update on around l2s

was an interesting tweet for that I came across from Castle Capital so there was an arbitrim Dow airdrop that happened when arbitrim issued their token obviously the ARB token here and a bunch of projects on arbitrine a bunch of dows got allocated uh ARB tokens right got them airdropped to them so this is a two-month retrospective on what where these uh tokens actually went across 100 plus Dows which is over 125 million dollars of value and you can see this Sankey diagram here that shows each of these Dow projects or at least the um the biggest projects that got the most amount of tokens here or sorry the approaches got the most amount of tokens here and where that actually went so there was a bunch of projects at the top here where they went to internal

protocol usage um some of them went to team allocation external farming uh about four million ARB tokens got sold and you can see which project sold their tokens yeah uh some of it went into liquidity pools and others went into incentives and there's a thread here which breaks this down and even further which I'll link in the YouTube description below for you to check out but the reason why this is so interesting to me is because I haven't seen something like this done before we've all seen uh you know tons of airdrops being given out whether they be you know airdrops to dowels and projects or airdropsy individuals and a lot of the time pretty much I guess like most of the time or pretty much all the time we don't actually uh have studies or breakdowns of where these these tokens go a lot of people will assume that the

tokens just get sold right but as you can see from the Sankey diagram that when it comes to Distributing these tokens to Dows into projects a lot of it actually ends up not being sold and ends up going to team members or ends up as uh as yield farming incentives or liquidity incentives ends up in the Dow itself and just and just stays there and maybe gets paid out to uh contributors over time or is used in future liquidity mining programs uh and and and it's funny because like I think there'd be a stark difference between Dows and individuals and I have seen breakdowns of the airdrops that go to individuals and where it goes obviously the vast majority of it gets sold and that's totally fine I don't think that's a that's actually a big deal a lot of it

gets sold for taxes as well because a lot of airdrops are taxed as as income at the time of of getting it but the the laws around that are actually changing in Australia at least and this isn't tax advice but this is this is how it is in Australia um the airdrop if it's an airdrop that's done when the token is created the cost basis is zero so you don't have to actually pay income tax on it you only pay capital gains tax when you sell that airdrop uh later on so so you actually get the the coins you get to keep them all without owing tax on it because the cost basis is zero which means you basically got zero income but this only applies if the token didn't already exist this only applies that the token generation event and as I said this is

Australian law don't know what it's Australian tax law don't know what it's like in other places around the world and it's not tax advice it's just the way um you know it's being interpreted now in Australia there uh but yeah as I said most of the airdrop gets sold which is only natural it's free money for a lot of people people there are obviously a lot of airdrop Farmers um but yeah it's just great to see a breakdown uh from Castle Capital here on the different uh projects within the arbitrary ecosystem what they did with their tokens and as I said I'll link this in the YouTube description below for you to check out all right so optimism has announced that they have a formal uh had they have officially changed the name of optimism to op mainnet now it's been confusing for me personally to refer to the

optimism layer to the optimism roll up because sometimes I would call it optimistic ethereum other times I would call optimism uh and now you know obviously they've kind of I said okay well it's just called op mainnet you know because there's going to be a different a bunch of different chains that are built on op stack we saw Zora Network launched last week obviously a bass is also going to be launching hopefully uh sometime this year from coinbase it's using op stack Avo is using op stack and there's a bunch of other chains as well so having the op mainnet uh be called op mainnet so it's not confusing is obviously very important so yeah whenever I say op mainnet from now on you'll know what I'm referring to it's just referring to the generalized op stack chain that was originally built

by the optimism team and is still maintained by the optimism Labs team uh but yeah just wanted to kind of shout that out there all right now this is the deeper discussion I wanted to have around layer twos and this was a tweet that was put out by Stephen goldfedter who is the co-founder or one of the co-founders of off-chain labs the developers behind the arbitrim uh ecosystem so he put out this street where he said we can debate whether an optimistic roll-up without fraud proofs has a place in production but here's what's not debatable those pushing this text should not be using terms like secured by ethereum without fraud proofs ethereum provides zero security now this is obviously a shot across at op mainnet because op mainnet does not have working fraud proofs in place right now now their fraudproof

system is called Canon it is underdevelopment but it is not currently live whereas for arbitrum one there is a working fraudproof system but it is permissioned which means you have to be whitelisted in order to uh uh partake in submitting uh forward proofs if something was to go wrong here now the broader discussion here is really what the term secured by ethereum means now I have used it a lot in the past and I've also said that there's a big ass tricks next to this term where essentially I would argue that most if not all currently live Roll-Ups are not technically secured by ethereum because they have things like admin keys or upgradability or security councils or not you know they don't have fraud

proofs or permission fraud proofs I think that the terminology itself is debatable as Stephen said here um oh I I mean it's debatable I guess like as a lot of people have said not not Steven specifically because he says something about uh you can call something an optimist you you know you can debate whether you call something an optimistic Rob if it doesn't have fraud proofs in production uh that's a different discussion but I think generally the terminology is always up for debate and there's always going to be a debate around this so I'm not going to get bogged down with that but when I say kind of secured by ethereum when I would consider something to be secured by ethereum I think generally you would want it to have uh in terms of in the case of optimistic Roll-Ups you would want it to have working permissionless

fraud proof at least that's what I would like to see you would want to have no upgradability from a multi-sig you would or no security Council you would want upgrade ability to only be in place uh as part of a dow and you would want that to be a long time lock on it and this goes back to a lot of the stuff that vitalik has spoken about before in any stages of each roll up and their stages of decentralization and there is obviously a tracker on the l2b website now for this where you can see stage zero stage one and stage two uh for all of this but generally yeah I mean I I don't know how you could argue that something is secured by ethereum if it doesn't have a fraudproof system because right now op mainnet is in what I would like to call trust me bro security model

where essentially you're just trusting the optimism Labs team uh with everything because because there's no fraud proofs uh and and there's no way to prove fraud on on the op main net you're trusting that the optimism team running the validator and sequencer is or the optimism live stream I should say is is not doing any funny business here now when it comes to arbitrine one because they have a fraud proof system that is permissioned you are trusting the permissions uh I guess like entities at the end of the day there is a different CL do in that with the way fraud proofs work the the fraud proof being submitted by the permission entity would only work if it was actually pointing out fraud but the economic incentives aren't exactly there because

it's permission and there's no like as far as I know the bond doesn't have to be that big or I don't even know if there is a bonding I haven't looked too deeply into it and as I said l2beat has this information so yeah I mean there there is Nuance here when you when you talk about these things and that's why I think a lot of people get confused by this sort of stuff but generally when we say secured by ethereum or at least when I say secured by ethereum yeah you want permissionless fraud proofs uh you don't want there to be a any kind of like Central actor over it you don't want there to be like multi-cigs and stuff like that and the same is true for ZK Roll-Ups as well ZK Roll-Ups obviously don't have fraud proofs that have validity be proof so it's a different

security model but still if there is a ZK roll up and the only people that can post proofs are permissioned or are controlled by the team and there's a multi-sig then yeah I mean it's very debatable or or very hard to argue that you could say it was secured by ethereum uh in that respect and it's funny because you can actually extend this out to anything not just l2s you could say that I don't know a defy app on ethereum that has a central multi-sig behind it where that multi-seek has complete power over the entire protocol could you say it's secured by ethereum I mean it kind of is because it's on the ethereum network and outside of the team uh the the whole protocol is secured by ethereum validators right by the ethereum network itself but at the end

of the day the real security the Ultimate Security there is just the multi-seat because if the multi-seq instill the funds then it doesn't matter how secure ethereum is doesn't matter how decentralized ethereum is um the app is still able to be or I guess like the default protocol I should say is still able to be accessed by that multi-seek and still able to be run to buy that multisig right so there are different levels of kind of secured by ethereum here but in my mind when you say secured by ethereum it shouldn't have a central kind of multi-sig that controls everything and they can still fund or anything like that so there are very few things that meet that criteria I think uni swap uh definitely meets that criteria especially it's stuff like V2 where there's literally no governance at all on it and nothing can be

controlled by anything there's no multi-sig V3 doesn't have a multi-sig either doesn't have any central control over it doesn't have oracles or anything like that right where it's a central point of failure but it does have governance which you can turn on and off a fee switch so yeah if you want to look at the absolute gold Platinum standard it would be a unisot V2 which is truly secured by ethereum it is as secure as ethereum um barring any kind of I guess bugs or exploits in the code which is another thing you have to consider when you're talking about security as well so my whole point here is that this is a very nuanced discussion this is not something that you can just like uh you know you can just like say the fin I guess definition of it's debatable um and everyone has their own

definitions of these sorts of things but I think over time we'll coalesce around one that is generally acceptable uh and I guess like it's going to be kind of a long time before that happens because there are economic incentives at play generally uh between the different teams building these sorts of things but yeah I just figured it was something worth bringing up for you guys uh to digest uh there all right uh so uh sismo has a I guess like very interesting road map here that Hadrian has uh tweeted out so he said I'm so excited about the sismo roadmap which is zero knowledge proofs as a surf as a service Builders I get the sismo app store to create Z caps from templates no need to code users can create and share zero knowledge proofs

like nft ownership with a simple link and devs tutorials and case studies showcasing how to build powerful apps now just a refresher here uh sismo is basically building a bunch of tools for people to use and build their own ZK apps around to be able to prove something without having to be without revealing that uh it is truce uh which is obviously the whole point of zero knowledge previously art outside of scaling layer twos and stuff like that but I've given the example before of being able to prove that you own a certain uh token on a on a cold wallet address uh from your hot wallet address without revealing uh where those uh tokens are so you don't have to reveal your cold wallet address which is obviously very cool but there are other

things like credential proving and stuff like that proving who you are without having to reveal uh the actual credentials themselves is very powerful and sismo is at the Forefront of that and they've got a very exciting road map as Hadrian says here for Builders users and devs which you can obviously check out uh if you go to this is my website itself and and check out the sismo project are there which I'll link in the YouTube description below for you to do so all right so the 11 Heath Global Waterloo finalists have been announced here so uh this obviously a tweet thread will be linked in the YouTube description below for you to check out uh but yeah Heath Waterloo took our Heath Global Waterloo took place over I guess like the last week I think or the last few days especially over the

weekend TR um and it is the I think this is the final conference between uh before HCC I I don't know the exact conference timeline here but I know ECC is going to be huge and each Global uh Paris is going to be present around HCC as well yeah I believe that's the next event as well I won't be at ECC unfortunately Paris is just way too far away from me to to travel to just for a few day uh conference here uh and honestly I'm not a very big fan of Paris I've been once uh and I don't really I don't really intend to go back anytime soon uh but yeah if you're gonna be there HCC definitely one of the biggest conferences I think it would go like Devcon Dev connect uh East Denver and then each CC unless I'm forgetting

another conference in terms of size so yeah you'll enjoy it if you're if you're going to that there but in terms of uh the Waterloo finalist or each Global Waterloo finalists you can find the Twitter thread which I'll link in the YouTube description below I haven't actually had a chance to go through each of these personally yet I'm still behind on a lot of things unfortunately I tried to take a break over the weekend from crypto stuff just because it is a crab market it is a lot easier to take a break these days than it will be uh probably in the future um but yeah I will be checking this out uh uh offline at some point but you can check it out as well I'll link it in the YouTube description below as I said last week over the the the global finalists

that I highlighted uh these are always interesting always focused on Innovative stuff that you may not see being talked about or being I guess played around with on Main Nets definitely a lot of early stage projects here of course which you can check out for yourself and there are usually demos with these projects as well so it'll be like a GitHub Repro I mean you can go to the east Global page I'll just open one of them for you open the one for aqua yeah you can see there's usually an eighth Global page with screenshots uh and then you can see the live demo and source code and and and the description about it and each of the each of the projects have this uh which is actually really cool and I've been a judge for few of these things before so many cool projects so many cool Builders usually

young Builders as well that are just getting their feet wet with crypto and web 3 stuff so always cool to see this here so you can check this out for yourself I'll link it in the YouTube description below all right we've got a few minutes here uh that's it for the news over the over the weekend there but I've got a few minutes here I wanted to talk about something that uh that I've been meaning to talk about for a little while now and I think I alluded to it a little bit last week when I talked about sentiment in crypto generally and how sentiment can change very quickly but if we broaden that to not just crypto things we brought him that to like just Global things generally I'm sure you've seen uh a lot of a lot of people recently or maybe the last like six or 12 months

maybe the last six months especially pivot to like AI right I'll pivot to something else in the world that's not crypto and these were people that were particular very active in the crypto space whether they were like VCS or influencers or media personalities and then because crypto is relatively quiet they pivot to AI because these people are not actually into crypto what they're into is the latest thing right and the reason they do that is because they produce content especially on the influencers and media side of things they produce content that they that uh that get the most clicks right they want the most clicks for their content so they can sell you something so generally when I see these people and I see these pivots that they do and it's pretty

obvious who they are honestly before they even do the pivot I mean I can spot these people a mile away but that's because I've been around for a while and it's kind of obvious to me now but uh generally if you see people pivoting like that don't listen to them about anything honestly because a lot of their content is going to be superficial in that they're not obviously not passionate about it they're obviously just just making content for clicks and trying to monetize it in some way and they're trying to sell you something so generally I wouldn't pay attention to those people or if you are paying attention to them at least take what they say with a grain of salt and and and kind of like double check it or triple check it with other sources especially people who are who have been in that particular industry for a while

so for example if it's something like AI I would much rather listen to someone who's been in AI for like the last 10 years than someone who just pivoted to AI over the last six months because it started being interesting and started being something that a lot of people were talking about right and that goes for literally any industry um but especially the ones that are kind of more so online and more talked about online because there are plenty of obvious obviously Industries in the world but the ones that are talked about online are generally ones that are Tech based I I feel uh so like crypto and Ai and other such things like that right and and things that are uh uh uh uh particularly easy to to monetize and I think that's why crypto gets uh so many tourists coming because with crypto it's

very easy to monetize you can create a token or you can sell a paid Trading Group or paid newsletter to to give Alpha even though what you're saying probably has no Alpha to it and mean the amount of crypto newsletters that I've seen from people over the years they put out their kind of like thesis for I don't know the first half of such and such a year and they name all of these tokens I remember reading one I can't remember who it was by but I and I wouldn't name them anyway but I remember reading one I don't know if it was last year or the year before and this person was just putting out this bullish case on like 30 different tokens and I'm like dude what the [ __ ] like 30 different could you imagine trying to outperform uh like eth as a benchmark asset by

investing in 30 different how do you even do that as a portfolio construction perspective right like let's let's just kind of like do a thought experiment here to invest in 30 different tokens uh and and let's say you don't equally weight them it would be very hard because you'd have to put like 10 or 20 percent into one token say one of those tokens is eight say you put 20 into eight okay you've got 80 left where you putting that well you have 29 other tokens you have to choose from how are you gonna go down the list of those tokens and choose how to allocate to them you're gonna have to have some kind of framework for it okay maybe you allocate based on market cap well that's stupid because the market cap of assets can change very dramatically even if those assets are considered quote

unquote Blue Chip right we've seen that play out over time so portfolio Construction in in crypto is so incredibly hard and then you have these clowns over here putting out a newsletter with 30 different tokens that they're bullish on but but why and they just come up with all these [ __ ] reasons it's usually based on Narrative of the day it's usually based on some short-term ISM stuff and going back and looking at those newsletters now they've all absolutely underperformed eth like by 90 plus percent or more probably from from the top right and on top of that they're never going to recover against eth they may may recover against USD but most of them won't right um and and so you we're better off just holding eth to begin with and it's not just ether's a benchmark asset you can

use BTC as well because BTC obviously performs a lot of other tokens as well but but really if you're buying tokens in the ethereum ecosystem you probably want a benchmark to eat right so if you're not outperforming if and you were severely underperforming eighth by like 80 90 percent on these token like then then where was the alpha right there was no Alpha there was just you trying to sell people hopium because you were trying to monetize it in some way whether you got had a bag of a particular token and you were trying to Pump It Up to exit or you were selling uh newsletter subscriptions to people to in order to um in order to uh uh to get to get them in and to get the opium going into and and for them to believe that you knew what you were talking

about or maybe you're running like a staking service one of these l1s where you can actually run a staking pool for a lot of the dpos L ones and then you're getting people to stake with you and then you're earning money off that or you have a paid telegram group where you're charging people a fixed amount of money per month or a subscription fee per month to give them Alpha whatever that [ __ ] means right so yeah I mean I get quite frustrated about this as you guys know the deadly way is is completely free and I don't think I'd be doing the daily gray if I had to monetize it like if I had to monetize it from a you know if I don't make money from this I'm not going to be able to live perspective I probably wouldn't do it because I'd feel gross doing it

because you would never be able to trust that I don't have an ulterior mode right that I'm not trying to kind of get you to buy something or trying to show you something and the only token that I really ever talk about favorably on here is eth because I don't want to talk about other tokens favorably and and and basically tell and basically insinuate that you guys should buy it or anything like that because I'm not trying to give investment advice it's up to you guys to make up your own decision on these sorts of things and I truly do believe that eth will outperform everything pretty much everything over the long run and I'm talking you know 10 years if I had to pick a token to hold for the next 10 years or anything to hold for the next 10 years I would be an eighth like on

pretty much 100 in eighth for the next 10 years because that's the only thing that I can see maintaining its value not only against USD but obviously against itself because everything else that I would look at and want to buy I just can't see a reason why they would hold their value against it over the next 10 years and obviously in between those 10 years you could have like you know one to two year periods where things hold their value but it's too hard to pick things like that I still have to pick the long-term things it's too much overhead I would much rather just hold eth now that's me personally obviously anyone can do what they want and obviously if you are starting from a from a position of you know very low bankroll maybe you've only got a few grand to play with and you want to grow

that into a lot more money then you're probably going to want to play The More DJ and stuff right people are going to gonna want to go down the risk curve and I've talked about this before and I've talked about how that's totally fine but you always got to be aware of what you're getting yourself into of course and you always have to be aware of the people that you're listening to as well and realize that almost all of them are just trying to show you their bags they don't care about you they don't care about telling you when to sell you know you'll notice a lot of them tell you when to buy but don't tell you when to sell because honestly they don't want you to sell they want you to to stay in there they want to get out before you do

and then after that they don't really care what you do uh with that but anyway on that note that's going to be it for today so thank 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 tomorrow thanks everyone