Ethereum Dashboards, Blob pricing chat and more - The Daily Gwei Refuel #824 - Ethereum Updates

Transcript

hello everyone welcome to another episode of De refu where Cap latics news and eum ecosystem I'm your host D the 10th of February 2025 all right everyone let's get into it so kicking off today we have a great little thread here from Barnaby who works in uh the research department at the ethereum foundation here so this was posted a couple of days ago this Twitter thread but essentially he's collected a bunch of EF uh research Publications and collaborations from the past week so this was I guess like the week of Feb 1st to Feb 8th now I covered some of these on the refuel but I missed actually a fair few of them so it's great to see that Barnaby put together this thread here where you can go check this out of course things like Justin Drake's croissant issuance and um Georgia's ZK fossil here is there and

the Bas and Native rollup X spaces was there as well uh but you can go check out this trade for yourself to to get um a handle on things here but this is just like one week guys this isn't like the previous month or previous year worth of work at the um the research part of the ethereum foundation here this is just one week and it's funny because when it comes to what the ethereum foundation does really well cuz I know they get a lot of crap from a lot of people especially over the last few months for what they do poorly but what they do really really well is R&D like their research department is world class like bleeding edge research that really no other Eco system can even hope to match at this point in time and and I know that's a point of criticism as well

people saying well ethereum is too much in research land not enough in development land and I think there is some truth to that where we tend to do a lot of research and look like years ahead head while sometimes forgetting to actually prioritize more short to medium-term things as well on the development side of things and I think that over the last couple months there's been a definite push to accelerate things on the de development front and put a little less focus on research but that doesn't mean that the research isn't important it just means that we have to refocus priorities and coordinate around uh things that people would rather see prioritized and this goes back to what I was saying on on my previous episodes where essentially I said that it is not a money issue it's not a people issue uh with moving faster

it's just a ation things like rep prioritizing things coordinating around things and that's been happening across the board especially over the last a couple of months there but if you still want to keep up with all the research happening I'm hoping that Barnaby can make this like a weekly thread that he does but there's so many different people you can follow on on Twitter to keep up with ethereum research you can go to the eth Research Forum pretty much everything gets posted there and you can follow along with whatever topic you want you know the research I guess uh varies it depends on the time frame you're looking at some of it is stuff that is happening in the next you know few months a lot of it is stuff happening in the longer term like years down the line but if you actually go

back and look it all starts in eth research and then eventually gets delivered on the network and there are certain things that will get delivered faster than others based on not only priorities but how long it takes to do them for example something like uh blobs took longer than you know than another EIP that might have taken the short amount of time increasing the gas limit isn't technically an EIP but research needed to go into it to make sure that the um Network could handle increases in gas limits right the recent increase to 36 million so there's a lot of stuff that goes on there in research land but you can go check out this uh uh this um Twitter thread I'll link it in the YouTube description below for you to do so speaking of resources to check out there are a lot of dashboards in the

ethereum ecosystem today I I've lost count of how many there are and I've showed so many of them on the refill over time so it's only um apt that honey Abu here put together a great website called ethereum dashboards tocom which is basically a dashboard for dashboards really so you can go here and look you scroll down look how many dashboards there are guys it's actually insane and this isn't just all the same kind of dashboards and different dashboards on the same website obviously dun analytics has a lot of different dashboards for lots of different things but this is various different dashboards from across the ecosystem yes there'll be repeat information on them but they display information in different ways they cover different sorts of information as well uh and there's also a category uh sort at the top so you can go through and

sort whatever category you want to actually pay attention to so let's say you want some dashboards for staking you click you simply click staking and there you go you've got eight dashboards right there to check up on what's happening in ethereum staking there's total of 83 dashboards right now honey aru is definitely um open to adding more uh if you suggest it to them so you can contribute here actually I believe this is on GitHub yes you can just contribute your own dashboard if you want you can go here do a pull request Say Hey I want to you know I want to um submit a dashboard to this website and we can grow that uh from there cuz I do believe there's there's probably more than 83 dashboards out there but I think at this point honey abu's covered the majority of them or at least the ones that I've

used in the past and I've shown on the um the refuel a bunch of times there but really this should be bookmarked and this should be your One-Stop shop for any dashboards you want about ethereum you know there's everything here like not just staking there's blobs there's censorship related there's def5 of course l2s fees Explorers so on and so forth there there's everything that you could want here pretty much but if something is missing as I said you can submit a PO request and and go check that out uh sorry and go uh uh add your dashboard to this website here now one last thing I wanted to say on this before moving on uh which I think is pretty important and falls into the wider discussions in the ecosystem today there's obviously a lot of discussions around I guess real and sustainable growth of both ethereum ecosystem and

other ecosystems like what are we actually building here are we building something that is sustainable and that can continue to grow into the future and that will attract users and keep those users coming back or are we just building something shortterm because obviously a lot of what's happened over the last 12 months has been very shortterm very extractive very like I guess like Casino oriented with the meme coin stuff and as I've said before nothing wrong with that but it's it it became the main focus and then of course The Logical conclusion of that is everyone issues their own I guess they're calling it a meme coin but in reality it's just a giant grift or basically a scam they extract money out and then that coin basically goes to zero essentially and you can see this across so many different coins they do this thing where they Spike up and then

they just go down and yet yes that's true for so many things in the ecosystem but the the problem with these things is that they're just so Hollow there's nothing to them at all it's like hey it's a meme coin it's like well it's not even that because like what you're creating is not a meme like a the original the original mem coin is Dogecoin it's based on a meme which is Doge right it's not based on a celebrity wanting to do their own coin because they're hoping to make some money off of it right it's it's not that at all so these things aren't even meme coins they're just tokens right they're things you can speculate on and people do speculate on them but pretty much all of them go to zero or just absolutely destroy people and extract money out of them so obviously people have been

questioning okay well have we have we just built a casino here like have we actually built anything better than than that or have we just built a casino I think that the casino part of it has gained so much traction obviously because there is the hope of making money and that is true of real life casinos as much it is true of onchain casinos but in terms of like what's sustainable and what's I guess like something that we can take into the future many years into the future as I've mentioned before it's really defi right and I know technically mem coins could fall under the defi umbrella because of the fact that you're trading mem coins on a decentralized exchange but I'm talking uh broader defi here right I'm talking things that people can actually get long-term value out of such as taking out a loan against their eth

collateral on AR for example or stable coin payments or doing some if you're you know if you're you're wanting to take more risk on and you're a bit more sophisticated you can do sophisticated position Financial positions such as options protocols or you could do things like looping through lsts and lrts yes a lot of it is still kind of speculative but it's more long-term it is not as extractive it is definitely something that people do with the longterm in mind um and why this is relevant to these dashboards or to this dashboard website is that on here you can actually track that activity under the defi dashboards right you can go here you can track what's been happening within ethereum defi across the l2s how they've been growing um and and so on and so forth to see if that growth is sustainable versus uh not here and I think that this is

going to be pretty important to keep track of going forward because of the fact that it seems like over the last couple months especially mcoins have lost their Allure right like there there's always a new meta in crypto memecoins was this Cycle's meta but it seems like they've lost their Allure now just like nfts did just like iOS did so what's like the next meta going to be is it going to be a Resurgence of meme coins maybe one day but like I don't know once the speculative Mania kind of dies off it it it becomes harder and harder for it to come back because everyone's convinced that it's dead sort of thing so for to come back needs to needs to be like a substantial change or a substantial sentiment change in things maybe it comes back because the the whole Market is bullish I don't know but

I'm hoping that we can refocus things on more long-term sustainable stuff especially with defi but also Beyond defi not not just defi here but anyway enough of me rambling about that you can go check out this website for yourself I'll link it in the YouTube description below for you to do so all right so ever dread here has announced something called The Ether Guild today so this is his sof and stoft announced this so basically just teasing it for the first time but the ether Guild is going to be a community uh effort to elevate eth the money in service of ethereum the world computer because as you guys know ether's money uh is directly tied to ethereum the world computer they are ying and yang uh so essentially the Prototype is live today at a ether guild. XYZ and you can go here and visit it for yourself you

can connect your wallet and everything if you want to help fund this effort because it is uh from my understanding trying to be completely Community funded and run here you can see uh uh essentially the first Quest that have been proposed here so essentially uh what you're doing is uh Under The Ether Guild umbrella you're completing Quest so it's basically a gamification um a way of gamifying it here and in ever dreads tweet he's also got the uh the eth global hackathon 3-minute pitch for ether Guild so you can watch this video here for just the three-minute pitch of exactly what this is as well as uh some more links to more information uh here in the Twitter thread so not too much just yet but I've been uh talking to ever Dre about this for a little bit

here I kind of see what he's trying to do here with ether Guild and I really support what he's trying to do he basically wants to have like an umbrella for the community to come and contribute to different things you know ether's money ethereum as the world computer you know doing regen stuff like funding public goods essentially having a a nice new community umbrella under uh you know to to kind of cover all of that so that people can get involved with whatever they want to uh there but I'm sure ever dread is going to be um uh announcing more stuff as time goes on here but if you want want to go see what this all is all about today I should say you can go watch the video and visit the website for yourself all right so we have a fresh bull post from ethereal Li today so this

was basically quote tweeting vitalic uh basically thanking everyone for giving their kind support to him over the last few weeks because he's obviously come under a lot of heat uh as part of the eum foundation coming under a lot of heat obviously with all the leadership stuff and just people personally attacking V and blaming him for everything I don't know how he does it honestly like I don't know how he handles it like it's just crazy the amount of hate he gets for simply like not doing what people think he should be doing when it's like okay well Vitalia can take that in and as an input But ultimately like he needs to make his own decisions and they ultimately affect a lot of people around him so he can't just like cave into the Twitter mob every day like he needs to think about

this there's not it's not exactly things that can be just changed overnight right so for that he cops a lot of heat um you know and he he he obviously has a good support network around him which is great to see but ethereal quote tweeted this and said uh you know we we're stepping outside of the polarity of crypto Twitter the ethereum economy right now is uh thriving and you can see that the ethereum economy which is the eth L1 plus the L2 ecosystem secures the most tokenized assets uh such as stable coins and other assets here and I've shown this before on the refill you can see here that that that second place is Tron which is just mostly stable coins today so it's not you know and and and I mean it's like what onethird of a ethereum today um and then next is

salana which is uh what is it like maybe 10 20% or not even I can't really eye this because the the numbers on the axis aren't aren't labeled there but it's a very very small portion it might be 5 to 10% or something like that so ethereum absolutely dominates it dominates uh tokenization uh which is I think going to be like one of the big waves over the next few years from the tradire institutional side of things and they're definitely iring ethereum for this over other chains they are deploying things to other chains but I think there's been a huge focus on ethereum and I think from what I've heard from a few people now is that the the institutions are definitely very um excited about and interested in l2s like having their own l2s and building l2s and building within the l2s because as I mentioned the other

day it gives them more control over things because of the fact that they need that for compliance reasons for regulatory reasons and so so on and so forth um and then uh eiz hit on the popular belief that al2s are parasitic uh and he says here sorry the account says here al2s are profitable business models which institutions require while being secured by ethereum andur uring value to eth at scale this is actually a topic that I should spend a few minutes on here because this is something that I see a lot of people talking about on crypto Twitter in the daily way Discord Channel about the fact that l2s are parasitic to L1 especially because their profit margins are so high you might have seen a tweet thread a tweet um rolling around the bases profit margin is like 90% that is any money they make

they keep 90% of and only pay about 10% to ethereum L1 in proof costs and data costs and people are saying well that's ridiculous you know ethereum L1 is getting shafted here you know they should be charging more for that I'm going to say I don't necessarily disagree with that uh I I do think that that in terms of like the blob how blobs are priced today I think they could be priced better I have discussed the notion of wanting like the um core developers and researchers wanting to add like a minimum blob fee in the past I have discussed things like blobs occurring more value over time as we scale them up and more blobs bought and things like that but it's not something that can happen overnight it's something that requires deep research to see what the best economics are around this it's

something that also requires understanding that if you charge too much for blobs and if you charge rollups too much for blobs they do have the option of switching off to Old da which is another thing that uh essentially what if they go to Alda what's to you know what's to entice them to come back to to blobs and there is orthogonal research on that with based and Native rollups because you do need to be part of the ethereum unified set layout in order to benefit from all of that so there is a lot of kind of efforts going on here but as I said I don't necessarily disagree with it being you know a bit lopsided I'm not going to say it's ridiculous because I think it's lob sided where maybe there should be a 50/50 split and it's really hard to enforce this it's not something that's

like it's not like some people on Twitter said oh we should put tariffs on the L2 it's like doesn't work like that like it's I'm sorry but like it that's just not how the econ economics of this stuff works in maybe in an ideal world you would say okay well let's do a 50/50 split all uh you know let's say bass makes $10 million a day in fees it's not that right now but let's say they do that just for argument sake 5 million should go to ethereum L1 and Bas can keep 5 million cool that would be awesome that would be a great split that means ethereum L1 is getting a lot from bass that means Bas is still um making a lot of money from from uh operating the chain of course as part of their sequencer and all the other infrastructure around it but to actually

do that and to enforce that would be incredibly difficult because ethereum L1 for starters is trying to be credibly neutral so it's not trying to essentially favor any L2 so you would have to generalize this to all of the l2s that use blobs two uh it's based on supply and demand at the end of the day so you would have to basically artificially restrict Supply on some kind of like controller mechanism that would probably get gamed and probably just result in these roll outs posting blobs uh you know you know colluding together to post blobs at different times so that they never hit that mechanism that kicks in the controller like there are games that can be played here guys is permissionless you can't just force these things on the l2s and thirdly as I mentioned there is the risk of the l2s just saying well screw this

we're bleeding so much money to the L1 we're just going to use offchain da technically they're still kind of uh uh secured by ethereum because they're posting their proofs down there but they're not like fully secured anymore they're not like they've got less security because they're using Alda so there is a balancing act here of things but then on top of this there are other ways that l2s can contribute value to ethereum L1 they can become based which means they used L1 for the as their sequencing layer which means they pay execution fees to the L1 there and Native Roll-Ups are a completely different thing where it's not completely different but like they're they're definitely you know tightly coupled to the L1 versus kind of sitting on top of it basically I wouldn't even call like a native rollup a layer two because it's so tightly coupled to L1

it's basically part of the L1 I would essentially just call it a native rollup like I wouldn't say a native L2 that doesn't really make any sense it's a native rollup whereas l2s like layer 2os are thought of to sit on top of the layer one which is why you know that that kind of name came about there so that's my my general view on things there um I'm not sure on the current status of the research with regards to Like A Min blob price or the economics of blobs I do know that people are looking into it and there are there are different ideas being floated around but there's also the the thing of well we shouldn't really be thinking too much about fee ACR or value acrw at this point in time because we need to keep scaling like the the competition out

there is fierce guys we definitely need to keep scaling up the l2s need to obviously put more priority on scaling up L1 as well in order to stay competitive in order to make sure that we can keep bringing users on chain and keep the fees low for them because transaction times are not a big deal because of the fact that we've already got transaction times down to a second or less on the l2s it's more the fees that we need to make sure or or ensure I should say uh continue to stay low and we do that via blobs we do that via scaling the L1 gas limit as well to a lesser extent but still uh very in in important there but as etherealized says here we are in the race for adoption we are in the race for onchain market share adoption not just for like ethereum

obviously is still very big with you know dii Wales uh uh kind of like institutional stuff tokenized stuff but we shouldn't just settle for that we should also make sure that we can on board the regular users too and make it so that ethereum can serve as both types of customers the regular users and the businesses institutions because that's what's going to lead to the most uh growth uh there all right so as you guys know uh there's been like this whole kind of I guess debate in the ethereum ecosystem about what powered by logos to use then what built by built on ethereum logos to use well there was another um bunch of uh powered by ethereum logos put out today from uh sleety here uh from token motion so you can go and check these out

I'll link them in the YouTube description below I thought they were pretty cool I think it really definitely embodies what I think of when I think of ethereum in terms of designs here but again like this stuff's very subjective you may not like it you know you may love it you may hate it so so to speak I think what I'm going to do is maybe just set up a website or get someone to set me up a website and just have like all the different designs on there and then people can choose what they want to use from there rather than trying to force people to use one or the other cuz really the original idea as you guys know uh behind this was just to get ethereum on the different project websites just some mention of it be whether it be powered by or built- on it

didn't really matter to me and and I don't even care about getting credit for starting this like everyone keeps tagging me on Twitter and crediting me for starting this and and like which I really appreciate like mind you thank you for doing that but like I my ego is not big enough to to care about that sort of stuff like all I care about is getting this on the different websites in the ecosystem so that's why I was just like here you go guys like I'm just going to put it out there and and and basically you can use what you want no there's no need to credit me or anything like that I'm not interested in that it's just free for everyone to use uh and and use whichever design you want there as long as it mentions ethereum as long as eum is front and center that's

all I care about there but anyway you can go check out these new designs for yourself I'll link it in the YouTube description below for you to do so all right so this is related to what I was just talking about with regards to blobs and the blob economics and you know fees and so on and so forth so there was a little bit of fud that um someone put out that basically said that basically sending all of their sequencer fees to coinbase since launch so all of the E that they generate from their sequencer they're sending to coinbase and this person assumed that that meant that that eth was getting sold as soon as it hit coinbase which I mean honestly like I'm not going to blame someone for thinking that but like if you start assuming things you can just assume anything like

I could just as easily assume that Bas isn't selling this e they just kind of holding it in coinbase for Regulatory and compliance reasons because coinbase is a publicly traded company they have um very different regulations and and compliance on them than uh these foundations that exist for other l2s that are you know not domiciled in the US that are else where they have to think about things differently so kab here from the bass team basically gave it a tweet Trad stating the facts here so uh base is committed to scaling ethereum of course we already knew this uh they continue to hold eth and public publicly disclose their long-term earnings uh sorry Holdings they currently hold over 100,000 eth which is worth over $300 million and they say this is the largest eth holding of any

public comp company and way bigger than any other L2 out there but Bas currently uses offchain custody for security and reasons that's why the funds move to coinbase as I said this makes sense for some someone like coinbase they are publicly traded company they have to do this stuff for regulatory reasons uh and then there was just more of the same kind of sentiment here saying that they care about e they care about ethereum they want to um keep scaling ethereum and they want to hold um hold e as they do that and also after this I believe that um one of the the founders from arbitrum replied uh to this or kind of quote tweeted this saying that we keep our entire treasury on chain of the eat that we get from a sequencer and like that's awesome and I love arbitrum for

doing that but this goes back to what I was just saying about the fact that arbitrum is a d base isn't a dow right and arbit like offchain Labs the Builders of arbitrum they may be like a publicly not they're not public there but there may be a company registered in the US or wherever they're registered but arbitrum sequence fees go to the Dow which is you know stays in eth obviously because the sequencer takes it in eth but it's not bound by the same regulatory and ordered and security um I guess like considerations that Bas is because bass is part of coinbase the publicly traded company it is not a dow yet maybe it will be one day maybe there will be a Bas token maybe they will decentralize it that way but as it exists today it's not like that that's why they have to do this so I completely

understand from from their point of view why they do this um and it's it's good that they do this for their shareholders because uh you know coin shareholders want to know what's going on underneath the hood uh they want to know they're not you know the the if coinbase is growing or not what they're doing with the money so on and so forth so when you look at it from that perspective you can understand it here and I really think this goes back to something that I've said a lot of times over the years on the refuel guys if you see onchain movements happening it does not mean anything it does not mean anything at all you don't have any context you can't just say things like oh I saw 50,000 eth moving from this address to coinbase that means 50,000 e is being sold that

makes absolutely no sense coinbase offers a variety of services like custody being their biggest one honestly besides their trading Services here and a lot of the time if someone's moving 50,000 e to coinbase they're probably putting it into custody right or it could be a market maker right replenishing inventory or it could be me Bots or it could be um uh people trying to essentially like trade between exchanges to do Arbitrage there are so many different reasons why someone would move something or someone would move a lot of funds to exchanges it doesn't mean that they they're selling it right and I understand that once it's at that exchange you've got no idea what's going on with it but people always assume it's being sold which is just crazy to me and the opposite is true as well where people say oh like some amount of eth or

some amount of some token moved out of coinbase or out of binance to an address on chain uh that means that you know they're they're not going to sell it or or that means that it was bought and then they're just bringing it on chain cuz they want to custody it themselves true but maybe they bought it a long time ago right you don't know you've got no context around this so when it comes to onchain things it's good to take them with a grain of so and not just assume things unless you can actually see the whole process happen on chain for example if you can see eth being sold by an address on chain then obviously eth was sold on chain but when you're seeing movements happen it could mean anything right so just good to keep that in mind a little bit I got a little bit ranty

there but that's just one topic that I kind of get annoyed by when I see people talk about it's like guys you don't have the context here you're just assuming so many different things just relax it's probably not what you think um and don't always assume the worst about these sorts of things all right last up here I just wanted to give a shout out uh to Austin Griffith's podcast uh pmfs so he did an episode with Joseph dong here talking about uh basically his devstack for shipping to prod along with his process of ideation and validation for those of you who don't know Joseph dong is the former CTO of sushi he also was a cordev Once Upon a Time an ethereum cev um and he was uh the CTO at asaria or is the C at asaria and has built a bunch of

different things in the ethereum ecosystem so if you're a developer and you want to learn learn from a longtime developer this is the podcast for you and I guess like Austin Griffith is also a longtime developer as well so it it's interesting to hear them kind of like uh I guess RI on with with each other on uh developing products specifically I guess within the ethereum ecosystem because they've both been doing that for quite a while now so if you're interested in that you can go check this out but be sure to subscribe to um Austin's new podcast as well because I'm sure it'll be very interesting I'm sure he's going to have more guests on I think there's an episode two out already as well so you can go check that out for yourself if you haven't done so yeah but I think that's going to be it for today's

episode it is a bit shorter than usual but the weekend was kind of quiet I think the ecosystem right now is quiting down a little bit not sure why maybe because the Market's gone a little bit quiet and I think that people are just I don't know bored cuz when people were were were I guess like creating a lot of drama out of those um powered by logos that I did I I I I knew that people were bored like when I saw that I was I was thinking to myself are people this bored right now and I think it's because of the fact that the Market's been relatively slow we had that like massive dump the other day I mean it wasn't even that long ago when was it like the third of Feb it's been like a week since then the market I mean kind of recovered

since then but it's not really doing anything it's just going sideways so I think people are are bored right now I think because the one of the only exciting things that was happening on chain I guess quite on quite exciting things that was happening on chain which was meme coins has died off as well so people are are holding their breath right now and thinking okay what's the next thing going to be what's the next meta going to be where should I put my money I don't really know what to do I was actually talking to some friends about this um and this is an investment advice I just felt like it was worth adding here but I was talking to some friends about this and I thought to myself if I wasn't you know invested in eth I wasn't putting money in into eth

what else would I buy right now honestly I don't even think I'd buy BTC because of the fact that BTC versus like on a on a risk reward basis BTC versus stocks so if I was to go into like a stock market index in terms of the amount of risk I want to take on it's basically the same to me now because BTC is at a $2 trillion market cap where is it going from here it's probably it's probably going higher from here right but where like is it going to 150k is it going to 200k and how long is that going to take I honestly don't think BTC is going to 150k for a while because that's another $500 billion market cap added onto it right so when I think about it like that maybe I'm wrong but at the same time I I

feel like BTC is now so tightly coupled with trafy and institutional Capital that it'll just move up slowly over time like what happens with stock the stock market like what happens with the stock market index products so I wouldn't go into BTC I would still keep buying eth obviously like I'm I'm doing that when I can I mean it it becomes harder over time because I as you guys know I'm a I'm a I'm a solo Rider in in the ecosystem I live off my investments so it just depends on when when those kind of things pay out and I obviously have to keep a fat stuck for for living expenses and stuff like that but then going from there where would I go well I'm not going to touch meme coins right because even though quote unquote Blue Chip meem meme coins were destroyed just

like I thought they were going to be destroyed I'm not going to touch any of the new ones I'm not going to try and play that casino game because personally I'm not into that on the risk reward front yet oh sorry at this point in my life so what would I put my money into well I'd love to put some money into some fundamental based like defi tokens like for example arve I'd love to do that but then I just don't have the confidence that the market is smart enough to kind of bid those things up at this point in time maybe not AR it's it seems to be pretty smart around it's still pretty dumb but smarter than other things but there are other tokens I look at and I'm like you know what this is a great product it has a lot of users it's

generating fear Revenue the fair revenue is even going back to uh the token holders but no one's bidding this thing no one seems to be buying this thing and it's a chicken and egg problem right where I'm not buying it because I don't see other people buying it and people being excited about it so I I don't know I just and it's a lot of risk too investing these other things so on a risk reward adjusted basis eth pretty good BTC pretty much the same is buying a stock market index at this point in time uh there's probably a bit more risk with BTC uh maybe you'll get a bit more upside there but it depends on your time Horizon honestly if I'm buying a stock market index I'm probably holding that for a long time so it'd be the same thing with like Ethan BTC if I was to

buy BTC but anything else I look at everything else and I'm like I don't know I really don't know on a risk reward adjusted basis here maybe I'll put like 5 10% on my stack eventually into these other kind of moonshot bets but it's hard guys it's it's harder than it's ever been honestly I feel like a lot of the speculative Capital that used to go into these other things just goes into meme coins now uh and gets destroyed in mem coins it's it's extracted out of that and then that money either exits the ecosystem all together or just goes back into something like a BTC or even an eth um and and and and that's really it guys so yeah don't feel bad if it feels like you're uh I guess having a tough time investing in crypto it is really tough these days it's it's as someone who's

been around for a long time it is the toughest it's ever been and I think that the four as I've mentioned before the fouryear cycle seems to seems to have been killed it seem it seems like it's dead um and if that's true if the Cycles have changed that makes it even harder because now even the people who are relying on the Cycles the OG so to speak the people being around the block it's even hard for them so right so like when you think about it like that it's it's uh the times are are changing that's for sure doesn't mean there's not opportunity doesn't mean there's not plenty of opportunity but it becomes harder and harder to find that you have to do more research it's not just throwing money at random things and money off of them you have to to do to

do more research you have to be quick to cut things if you don't think they're performing as they should uh and and yeah just like protect yourself as well make sure you survive in this crazy crazy ecosystem but I think 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 on Wednesday thanks everyone