Ethereum core updates, Taiko announced and more - The Daily Gwei Refuel #464 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of daily gray refuel where I kept the latest news in ethereum ecosystem I'm your host the analysis Center inside the 10th of October 2022. alright everyone let's get into it so Devcon in Bogota is kicking off over the next week I've been seeing all the tweets uh and pictures being shared kind of on Twitter there obviously I am not attending so there will be refuels as per normal but I'm excited to I guess follow along online uh see all the news coming out uh there's going to be a bunch of major announcements I would assume so very excited to see all that but see unfortunately it just didn't work for me to make it down so I hope anyone who's there and listening to the refuel store hope you're having fun and if you're heading there and still not

there yet uh you know obviously save Journeys and all that sort of stuff but yeah very very cool uh to see that Devcon is back after so long as well I mean the last devcom was in 2019 uh at Osaka in Japan I attended that one it was really really fun but then obviously covert hit and we didn't have any devcons and we had Dev connect in Amsterdam which I also attended this year which is like a mini Dev con that was was quite fun but devcon's always the biggest Conference of the year for for ethereum so yeah I hope everyone has fun there but uh let's get into the news now so from the weekend so Tim baiko has put out a fresh all-call devs update here uh on um on hack MD so uh you can go check this out I'll link it in the

YouTube description below the tldr is that we merged so this is the first all-core devs update uh that Tim has put out post merge so obviously we merged it was quasi Flawless uh they're calls the awkward devs and uh consensus layer calls are on pause for a few more weeks so I remember I did mention that on the refuel and the kill and test net has been a shutdown with rinkerby and Robson test at test Nets uh being shut down soon so you can read this full post for a breakdown yeah it's not very very long uh you can go check it out I'll link in the YouTube description but very cool to see that these uh these updates are back in the I guess like the core devs as I've said plenty of times like they are an aren't taking a break like it's a

break in the sense that there's no calls and they can you know they're not under any pressure to deliver anything every anything right now but they're still building like crazy I mean it's just it's just insane and I mean there are a lot of them are at uh Dev con right so they're going to enjoy themselves and I hope they do they've earned it uh but yeah just a little bit of a craziness going on uh there so uh Ben Edgington actually put out an update over the weekend as well uh so this is an update to his book uh for balatrix which is the in the annotated spec here so you can go to 82book dot info later which says latest I should say uh for to check out that that chapter there so this is Edition two which is Bellatrix uh you can go check out all the chapters that

are finished here so there's consensus you know uh introduction to uh the annotated specification uh upgrades such as the hard Fork history and things like that I mean I've gone through Ben edgington's book before so you can go check it out I'll link it in the YouTube description below uh and speaking of uh core development stuff Tim biker put out another kind of little uh I guess signal to Twitter over the weekend saying 8th Global 8th Bogota hack idea ultrasound money's similar simulate merge button but for erp4844 scan the chain look at call data in transactions and simulate how much it would have cost using the dynamic blob pricing described in the EIP so there's been a lot more talk about erp4844 Slash Proto dank sharding

lately it's basically the Talk of the Town now I mean it's it's it was pretty much destined to be post merge obviously it is the most exciting upgrade coming post merge and there's a lot of movement happening here and I think this would be really cool because as I mentioned before call data uh you know is what gets stored on the um on the uh the chain today on layer one today from these layer twos then a Proto dank sharding World there'll be this new transaction type called blobs which is basically like cool data from my understanding but it's much cheaper and that will be and they and it expires after a month right now I think that is that the time limit they've put there uh but this would be a way to just simulate how much it would have cost uh for these

layer twos to use the call data opcode uh versus The Blob carrying transactions so the costs are going to be considered considerably less like the estimates put it at 10 to 100 times less we don't know exactly until obviously how these things go live but this would be really cool to see because ultrasound monies simulate merge button is a fan favorite I know a lot of people use that and I'll be talking about that a little bit later in the refill today um but yeah hopefully someone hacks on this I think someone may have uh already started I remember seeing a reply here but I can't see it right now um but yeah hopefully someone hacks on this at Bogota and we get something like this uh that's uh the out into the Wilds uh and speaking at all the erp4844 and dank sharding the kzg a ceremony for

dang shining is coming so Trent Van Epps who is I guess one of the Champions or coordinators of the kzg ceremony here said attention Anon in the next few weeks we need you to contribute Randomness to help scale ethereum interested don't miss our slot at the Defcon kickoff to find out how you can be part of this historic ceremony and there's a link here to this and for more for a more in-depth overview of these types of Ceremonies and what went into the design process don't miss a Carl's talk on a Thursday here which is also linked now I've talked about the case G ceremony that is required for proto-dang sharding before it's basically a trusted setup but the awesome thing is is that you only need to trust one participant and we and as I've said previously we

want thousands and thousands of participants and it's looking like we'll get those uh and and someone actually pointed this out when I was talking about this last time in the YouTube comments where they said the beautiful thing about this is that you only have to trust yourself right you are a participant if you're a participant in this ceremony then you only have to trust yourself and you can distrust everyone else like if there's 10 000 people you can distrust 999 other people and you can also uh assume that all of them aren't uh you know doing what they're supposed to be doing but you know you're doing what you're supposed to be doing right you know when you can trust yourself and you know that you've done the right thing well that's all that matters so how cool is that right that I think that's actually a pretty

mind-blowing concept uh and that's you know the trusted setup terminology around the kcg ceremony tends to turn people off sometimes like oh trusted ceremony that doesn't sound very decentralized but as I said like it's I mean it's a technically correct name but there's a lot of nuance around that like trusted in the sense if you only need to trust one person and you can just trust yourself in that regard so the more participants we have obviously the better it is because then the chance of you know every single participant being I don't know malicious on doing the wrong thing is basically zero percent it's never going to be exactly zero percent but it's basically zero percent right uh so yeah if you want to learn more about this there are presentations at Devcon if you're there I don't know if it's live streamed it may be live

streamed I'm sure it'll be recorded at least you can check out all of that and also as usual you can go to the eip44.com website to check out all the information around that EIP as well as information uh related to General a dank sharding there all right so Ross here from lexdel put out a great little tweet Thread about ethereum over the weekend that I wanted to read out and add a bit of color to so they said the ethereum thesis in my mind is that it accumulates Social Capital as first mover on Smart contracts and eats new research and genuinely do altar ones seek to improve on doing the same or are they after a pure technological victory then he continues by and large they try and compromise on decentralization to onboard one billion users that's in

quotes but don't know why anyone cares about that over just using Visa chiefly conversion cost is much harder to try and front-run ethereum on normies in a bear Market without speculative Bulls to nudge them my opinion unbias of course but with ethereum Roll-Ups already used by Reddit and polygon doing more than sui and Aptos in Biz Dev right now aligned to ethereum settlement as the base why do we listen to these narratives again next cycle the tech will be forked back social is hard so this is basically the tldr is Ross saying the social layer matters above everything and I mean I've been saying that for a very long time so I'm not going to bore you with rehashing what I've been saying but I think it's quite prudent to understand this as both an investor and a user of these things like the Ulta ones the thesis the

narratives around them they work really well in a bull market because there's obviously a lot of a lot of new people coming in and they I guess their first cyclist they'll believe anything right but the problem is I think well it's not a problem for ethereum but the problem is for these networks is that I really do wonder what their talking point is going to be next bull market because where like by the looks of things we're not going to get another bull market for a little while and we already have uh layer 2's live in a really big capacity and they've got awesome ecosystems and you can use everything on there or most things on there that you can use on layer one and we're probably going to have proto-dang sharding live before the the next bull market rolls around the man rolls around which means these layer

twos are going to be extremely cheap to use so what a layer one's going to do are they just going to do the same thing they did last time with the liquidity incentives I'm sure they will but there was always that backup narrative they had where they were always talking about the fact that ethereum had a high gas fees come to us we have lower gas phase blah blah right and we all knew that that was just a bull market thing um and I remember saying that a lot and I also remember saying that uh with the liquidity incentives I mean this mercenary Capital the the liquidity is going to come sorry leave as fast as it came uh especially because a lot of that liquidity is from first cyclists who again just leave once the bull market subsides so I really do wonder what

they're going to be talking about are they going to still be talking about ethereum's high gas fees because layer 1 gasp is definitely going to be high still like don't get me wrong We're not gonna have low if they are one gas fees but that has never been the goal of a thought I mean it hasn't been the goal with theorem scaling ramap for a while now so layer twos are going to be there for for those users and you know as time goes on they improve we have more layer twos going live I mean there's so many of them now it's pretty crazy um so I often wonder about that and then as I explained last week on on the refuel you know what is the the staying power here well it's the social Aid it's the community it's the culture that is always and forever will be the staying

power of these things I mean it doesn't just apply to crypto and I use the religion analogy last week it also applies to so many things in in life and I mean you know you could argue it applies to everything like when do things die right like when do things quote like actually die it's when people stop caring about them right it's not when they fall over or get shut down and some people stop caring about it because there's plenty of instances of things being shut down for example there are games that get shut down or stop being supported but there is always a community that keeps it alive right they maybe run private servers or they revive it if it's if they've got access to the source code uh for example a lot of the old Nintendo games are emulated on PC and there's a huge Community behind that

they've got the emulators that they develop and they improve upon the games they have the ROMs yes it's not technically legal but it still exists in that fashion right that's because the community wants it to uh so it's not just a technology there it's it's obviously the community keeping it alive and keeping it going so the same is true for for so many things in life and I I think people don't realize that and within crypto they definitely don't realize that and it's always funny because it's like well look at number one and two it's Bitcoin and ethereum what do they have in common like out of everything in crypto sorry out of everything between Bitcoin and ethereum and the rest of crypto Bitcoin and ethereum have one thing in common that is the same whether you know Bitcoin is a ethereum's agree on this or not they

both have their own strong social cultural layers that keep the thing going like Bitcoin for all its faults for all the Bitcoin maximalists and stuff out there that I've given you know them for before they have a strong Community if you take the if you just look at their Community as a vacuum it is strong right there they have so much so much support so many action you know True Believers so many people uh building things around Bitcoin yeah I mean they're not as interesting as what's being built on ethereum but people are still doing things on be on bitcoin whether that be building centralized infrastructure around it building little tools for people to use you know building ways to run uh the full node through tour you know making it easier to do stuff like that there is stuff being built as much as can be expected and the same is

obviously true for ethereum like we're you know we have everyone uh so many people in the community that care about ethereum from both a builder perspective and a Community member perspective and I mean educator perspective like so many different perspectives so I think that at the end of the day like a pure technological Victory especially in crypto is just not going to cut it as Ross said here just use Visa like if you're a completely centralized chain then how do you com like okay let me take a step back here just to give a little bit of context and I'll move on from this I just want to uh give this context because I think it's really important there's like a spectrum right and the spectrum is decentralization on one side centralization on the other the closer you move to centralization right the more disruptive you know the more you

put yourself at risk of being disrupted by something even more centralized than you so for example Solana is you know pretty centralized right and it has that's quite unquote scale because of that centralization but what happens when these other ones come along that is even more centralized right the Aptos the sui the say whatever these other ones are right they're going to be even more centralized so what happens when they come along and be more centralized what's solano's different differentiation there I would argue that it's business development they do you know pretty pretty decent Business Development not like what polygon does but they do pretty decent there and that would be that would actually be the edge that they have but from a technological standpoint like these other chains are more centralized which means they can be

more performant than what Solana can at layer one obviously I don't think they're going to be more performant than the layer 2 ecosystem on ethereum but if we're comparing you know centralized to centralize this is this is where we're going with it so in my mind there's always been a Goldilocks zone where on on the Spectrum where you you know this full you know absolute Max decentralization which is where I would probably put Bitcoin and then there's ethereum which I think is pretty close to that but it takes some trade-offs to give it more functionality you know it takes a little bit of trade-off since in decentralization to give it more functionality I mean it would be hard to argue that ethereum is you know totally more decentralized than Bitcoin because Bitcoin doesn't actually evolve it doesn't have hard Fork doesn't have

upgrades it doesn't matter if those upgrades are done in a you know social consensus way on ethereum where it actually requires Community buying to do them just the fact that the chain can upgrade adds that little bit of extra I guess like centralization you could call it and and that is what tips the scales but I think ethereum hits the nice Goldilocks zone between a little bit you know trading off a little bit of decentralization for the fact that for the the ability to upgrade for the ability to keep improving the network in order to get to that end state where we will be you know that pure decentralized end state where the layer 1 won't upgrade anymore or we'll you know upgrade only over very long time Horizons and as I said I think that's the Goldilocks zone of where we should be but anyway I'm going to stop there

because I talk about this stuff a lot don't want to bore you guys uh moving on to the next piece of news so a new layer 2 roll uh ZK roll up was announced over the weekend called Tycho so they're calling themselves a decentralized three ethereum equivalent ZK roll-up and you can check out their GitHub here we are I believe the white paper is so they say Tokyo's aim is to scale ethereum without sacrificing security or compatibility and you can check yeah you can check out the white paper here or view it in the browser as well uh which I'll link in the YouTube description of course but uh yeah they're calling themselves a type 1 ZK VM which is prioritizing evm equivalents and ethereum equivalence above ZK friendly optimizations and they believe this creates the smoothest past

path for Developers users and infrastructure providers and they say while they have released the white paper the Taiko team has been making great progress over many months and you can take a look at their GitHub to look at the code there are the closed repos are being opened over the coming weeks and they also have a Discord and a Reddit that you can go check out as well and this is awesome just to see another ZK roll up uh kind of I'm entering the the ecosystem here uh it looks pretty promising from what I've seen on the white paper they look like they know what they're talking about I can't remember who was credited on the white paper I want to just quickly check that because there are some familiar names on there that some of you may recognize uh let's have a look here

um oh I don't I actually there wasn't maybe maybe I was wrong there doesn't seem to be any names on the Whiteboard I'm sure I saw some names somewhere but uh it seems that they're still under under wraps here or at least maybe I saw the names on the actual GitHub uh the contributors yeah yeah contribute so this is where I saw that so you can see in the contributor section that um Matt finds Stone so those who you will know Matt finestone from Loop ring and also from um uh from Gamestop uh so I believe he uh may have left GameStop recently and he's uh he said he was working on something new well this seems to be something new and there's also this person here I believe I'm not sure what they've worked on before but they've definitely worked in crypto before Dan

here so but yeah that's where I saw the The Familiar name Matt finestone so if he's part of this project I'm pretty bullish on it Matt's a good friend of mine and I definitely have followed his work for a while now and he he certainly knows what he's doing so yeah I'm looking forward to learning more about Tycho as time goes on and seeing how they plan to differentiate themselves from you know I guess like a lot of the different ZK avms out there or out there being developed right now and yeah I can't wait to see uh them go maybe not live on mainnet but even a test net that'd be really cool to see all right so I spoke about Avo either last week or the week before which is a I believe oh man I've got the word in my head I don't want to get this wrong I

don't want to give the wrong information out there uh Avo is a options roll up yes so they're focused basically on uh just default options uh and it's being made by people from Urban Finance here so they just deployed to mainnet so you can see here that the Evo magnet was the player with chain id1 uh and obviously this is out in L2 and they have support for usdc a wrapped eighth and wrapped Bitcoin so far and that's just the Tweet there I just wanted to highlight that if the mainland has been deployed so another layer 2 is now live on ethereum we're gonna have so many of these things guys I actually the era of layer twos is I mean it's been here for a while but it's just it's getting hotter and hotter I mean I just talked about Taiko now we

have Ava live on mainnet after announcing themselves just a few weeks ago and I really do think that uh people opting to maybe move away from Roll-Ups like do idx or teams opting to build uh you know their Sovereign app chains are gonna lose out to roll ups I I'm still more convinced and I'm probably more convinced than ever at this point in time that Roll-Ups are the long-term viable solution over these other things and there's there's actually a lot of debate about this right now uh there's a lot of debate around app chains versus uh sorry like Sovereign app chains versus just roll-up app chains um and yeah I mean I've read the literature that's been put out about it I've read different takes on it and I'm still not convinced that The Sovereign app chain things just makes any sense at

all and honestly there's a lot of technical reasons but if I'm being honest I really only look at the economic reason because the economic reason drives everything else so what I mean by that is that it's much cheaper for a app roll-up to secure itself on ethereum than it is for a app uh Sovereign app chain to secure itself with its own token with its own validators set because the cost to spin up a validator set to be anywhere near as secure as ethereum which you probably won't get to right is just absolutely massive and think about ethereum's market cap think about the economic security backing ethereum with the amount of heat that's staked it's tens of billions of dollars so you have to basically you know get your token to be worth that much in order to even compete

with ethereum security and as we all know it's not just about technical security and decentralization it's also about the social layer as well so I do think that if you're an app roll-up it makes sorry if you if you deploy an approach instead of uh a sovereign app chain it makes much more economical sense but you also get to inherit ethereum security right and you also get to inherit the ethereum decentralization and community so you don't have to go ahead and bootstrap it you can have your own token right that people have the wrong idea that Roll-Ups can't have their own tokens if they um if uh they're securing themselves on ethereum I mean that's false we already have robs with their own tokens and it works just fine I mean the value of these tokens will be determined by a bunch of other factors but they're live and they're

working and no one's crying about it and that's fine right it's putting along the argument can be made that these Sovereign app chain tokens will perform better than roll up tokens but that's an argument that can be made but there's no actual proof right now of that we haven't seen it at scale so that you can't really look at anything right now but people have their own thesis they have their own thinking about this and that's totally fine as I said my thinking is roll up app Roll-Ups are going to eat everything uh and Roll-Ups in general are going to eat everything especially when it comes to ZK roll-ups I I Can't Describe like it's kind of hard for me to describe how much these ZK rops are going to eat everything they're just so technologically Superior and they are so backed by the ethereum

community that it's just it's going to be amazing I'm gonna stop fawning over Z careful Ops now but uh yeah great to see Avo live on mainnet I don't think you can use it yet I think this is just deployed and they're probably gonna put out more information as time goes on all right so speaking of ZK stuff polygon is announcing something I think today yeah they may have announced it already actually let me have a good look on their profile right now a time of recording honestly if they've announced it uh no I don't think so I think they're going to be announcing something major uh related to the their ZK work uh quite soon so maybe you've already seen it announced uh maybe you haven't you know depending when you're watching listening to the refuel but yeah something big is coming which uh I mean

I'm looking forward to it I don't actually know what it is uh there's actually a logo there I I don't know what uh is that a logo oh man I've seen that somewhere before if I go to their website here maybe I can uh figure it out oh no polygon DK so that's that's the logo for ZK VM I thought it was for a specific project but it's just their logo for for the generic ZK VM that they're that they're kind of building so news about that's coming out I'm gonna keep you updated on that hopefully tomorrow we'll have an announcement and I'll be able to cover that then all right so a big announcement out of the pull-up uh program project over the weekend so American Express has partnered with po-up so if you've gone if you're going to be at the ACL Music

Festival uh you'll be able to get a limited edition pull up uh which serves as proof that you were there so we're all used to getting these pops when we go to conferences uh and you know when we do things online and we attend events online well now people who are going to a music festival who may have never heard of crypto before or I mean probably the heard of crypto but not really involved in it they've probably never heard of Pop before or now they're getting exposure here which is just awesome I mean you guys know pop is one of my favorite non-financial use cases of ethereum uh and you guys know I'm an investor in Polyp as well to disclose that as usual but I mean I've been a pop fan for a very very long time way way longer than I've been an investor in

them um but they the The Good the cool thing about pop-up is as evidenced here is that they're not just tied to crypto I mean they're very much not tied to crypto and ethereum at all like they're on ethereum and they're on a few other changes as well well but they can do any event in the world any like I mean anything in the world can be done with a pop-up like any event uh no I mean not just events either like any uh meet up right uh any big Festival obviously just anything where you want to do a proof of attendance uh you can use pop-up to do that which is I think very very cool and it obviously has an impact in crypto as well because you could imagine a thing where this music festival is like hey you can mint these nfts or these music

nfts if you hold a pop or if you hold a pop-up you get a discount because you can prove that you're at this music festival which means that you bought a ticket right and then you can cryptographically prove that uh that you were there and you can get these discounts so there's a lot of use cases here but just very very cool to see part branching out more into the mainstream crowd all right so this happened a little while ago I don't know I don't remember covering this so I just want to cover it quickly here but alchemix launched on uh optimism so I actually don't remember covering this so just cool to see them on optimism alchemix has been around for a little while now I've talked about them a bunch of times on the refuel uh but for those of you who don't know

they're a self-replaying loan platform uh they've been building through both D5 summer and through the bear Market uh and they're still building and they're deploying I guess like they're doing their multi-chain architecture deployment right now so they're live on optimism I don't know what other l2s they're live on just yet but you can go check out alchemix.fi to check all that out but cool to see them live on the optimism Network there all right last thing I wanted to talk about here was uh ultrasound money I guess is the broad topic here and I I think that it's important because over the weekend there has been this new Ponzi thing that got deployed to ethereum called Zen crypto and I'm sure you've seen it uh and and you've I'm

sure you've seen the gas prices go back up to 30 40 50 Gray and that's because of this Zen crypto thing I mean if you look up over the last seven days Zen crypto has burned almost 3 000 eth which is almost three times uni swap V3 which is huge right because over the last 30 days you can see unisoft V3 over and all you can see that unisob V3 is usually dominating that um but yeah this this new Ponzi was just deployed apparently it's free to Mint the token and people are minting it and obviously driving gas prices up and they're trying to sell it blah blah whatever right that's not my point here I don't really care what it is but this is the cause of it what I care about is this chart you can see here that we peaked here like this has been the

supply growth since merge right you can see Supply in this chart gone gone up and up and up not up that much I mean we went to like what 13 000 each supplied since merge including the the burn now because we're in a deflationary period where obviously above uh the 15.3 gray ultrasound barrier here it's deflationary and we're way above that we've been way above that all weekend you start seeing the supply come down so since this has started we've burned for 3 000 over 3 000 eighth and we're basically deflationary we are deflationary over the last seven days you can see here 0.05 over the last 30 days it's 0.12 inflationary but that's come coming down now so if this

continues for I think the next few days I mean actually if this continues for another four days if I'm doing my math correctly at the same Pace that it's been over the weekend we will have wiped out all the issuance that we issued uh obviously factoring in the normal burn since the merge now what's even crazier than this is what I put out in my tweet here is that I put this out uh earlier today this was only 12 hours ago I said supply chain since merged 10 750 eighth that's actually now 9900 eighth right but if the supply chain uh uh since merge was done on the proof sorry since merge if ethereum was still a proof of work Network it would be 304 130 each let's do the simulate power here it

would still be 309 000 even with the extra burn so you can see what's happened here the the power uh the the um the power issuance has still gone up right even with that burn that we've seen But the pause issuance is going down now we're under 10 000 eighth and this is an effective 96.5 reduction in issuance you know and the merge what over three weeks ago now this is crazy it's absolutely crazy like when I look at these numbers I'm still in utter disbelief about it because it's not just a theory anymore it's actually playing out in practice and of course people have been going on about oh the price isn't doing anything oh you know the price is going down oh this doesn't mean anything and my only response really I

mean if I had to give one response and I've said this countless times on the refuel demand is just as important as Supply if not more important it doesn't matter if the supply for your thing is zero you know for example every single house in the world I mean you could argue that is unique right they're not fungible and a house is an nft so to speak a physical nft it's a non-fungible thing it doesn't matter if there's houses that have been built to say and there's apartments that have been built the same they're all unique in their own way right so when you look at it like that it's only worth what someone's willing to pay for it and if there's no demand well then No One's Gonna and and you have to keep dropping the price to get to the price of people want to pay for it right but

if you have a thing that you've create created yourself say you create a new Trading Card Game you have like 100 trading cards and you say hey is this cool trading card game I created I'm gonna sell it for a hundred bucks for that you can get those 100 cards for a hundred dollars who's gonna buy it like you can be you can say well there's only 100 of these that will ever exist and it'll cost you 100 and it's limited edition it's like okay well who are you like who cares that it's limited edition like you just created these trading cards like why would anyone care about them right so if there's no demand it's not worth a hundred dollars it's worth zero dollars right so now you can put whatever price you want on a on a scarce asset but if no one's actually paying

that price it's not worth that price I never traded at that price so it is a fugazi so to speak right it's an imaginary it doesn't exist so the similar concept applies here where okay yes the price has been stagnant but that's because the demand is basically zero right now we're in the depths of a bear Market but what happens when demand comes back like 8th is still in demand there's still people buying eth it's just that right now it's not that much right I mean it's pretty much near zero because of the depths of the bear market and the the trader um short-term movements are just overpowering the investor movements right now but as time goes on you know time heals markets you know time like literally if anything heals markets it's time so as time goes on this stuff starts playing out and I've talked about

this countless times I'm not going to rant on here but I just wanted to make make that kind of like a point because it's it's the long-term game here guys so when the man comes back instead of having an extra you know over 300 000 eth that may or may not have been sold already and that is going to be sold into the market because the you know the Market's heating back up the mind is like yeah let's sell right that's not gonna happen and even if withdrawals were enabled there would only be less than ten thousand each available new each available to be sold from the issuance which is nothing when you look at the trading volume of ethereum the natural demand of ethereum I'll leave I should say so so yeah when people say that I'm always just like well I mean I'm just going to keep stacking like you

don't have to stack I'll keep stacking because I don't think this is going to last forever uh and I do think that obviously right now we're in just an extremely low demand period and that as I said it's not going to last forever but anyway I'm going to leave it at that uh you can go check out ultrasound money's website obviously to check out all the uh I guess metrics and statistics around that but at last up here I just wanted to give a quick shout out that there's also a pop-up you can mince on the bottom of the ultrasound money website there's only 1559 of these things and you're only eligible if you are the first 1559 people with the most followers as part of the ultrasound fan which is people who have the bat signal in their Twitter name only 378 of these

have been claimed so far so if you're eligible definitely go claim it also if you're eligible you connect your Twitter here and then you can claim it and uh and whatever that so definitely go check that out uh you can go to ultrasound.money scroll down to the bottom that's gonna be it for today's episode 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 to join the Discord Channel and I'll catch you all tomorrow thanks everyone