The Merge updates, Cross-chain Superfluid and more - The Daily Gwei Refuel #386 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the delegate refuel worry cap the latest news in the ethereum ecosystem i'm your host anthony designer and today's the 15th of june 2022 all right everyone let's get into it so what another crazy 24 hours in the crypto markets and just the crypto ecosystem in general i got a bit to get through today so gonna get right into it uh first thing i put out a tweet earlier today where i said i don't think the crypto markets have ever humbled so many people so quickly before this is absolutely wild to watch play out front row seats to the greatest show on earth uh this has happened before where a lot of people within crypto will get what's called humbled and what i mean by that is that like during the bull market a lot of people uh feel like they're

invincible right like you're making a lot of money it's really easy to make money everything's going well it seems like everything's working and you feel this sense of invincibility and obviously with that comes a lot of greed and then the market inevitably turns and people get wiped out even the people that you think are really really smart or really good at kind of like managing their risk they get wiped out and the latest victim here is three arrows capital which you can kind of like see here uh a scoop from the block and also just a bunch of other kind of news around this today that three irs capital is basically having a liquidity crisis they can't pay their debts and uh having a very very tough time right now and i guess for those of you who don't know what i guess a liquidity crisis or a

liquidity crunch is it's basically got to do with a lot to do with leverage so for example uh three hours capital or a lot of the funds they love to kind of like take on leveraged positions now that works in a bull market pretty well right because everything's going up you don't have to worry too much about it but the problem becomes is that when you leverage up and you use crypto assets as collateral which obviously the price of that collateral goes up and down it becomes very very risky uh especially when the price goes down way too quickly and you can't sell enough of your uh i guess like um collateral or i guess crypto holdings to cover that debt because let's say you put up ethos cloud rule you borrow stable coins and then you go buy more eth with it well if

you're trying to pay off that debt and you're in a losing position because the earth price is going down you get less and less capital so to pay off that debt fully unless you've like over collateralized by a lot you have to get money from elsewhere which means selling off other assets that you have which you know incur further probably further losses and further tax events as well depending on if you're a company or an individual it can it obviously differs and where you are in the world but basically i think what ended up happening was that three rs capital from what i can tell just didn't have the liquidity to pay their debts or and um they seem to have kind of like panicked a bit as well they sold a lot of st at a discount i don't think they would have been doing that if they

didn't need liquidity like asap and uh there was an on-chain position that was credited to them which i think has actually been revised so there was this position on rv that was going to get liquidated at the eighth price of a thousand and fourteen dollars we got there but the oracle didn't update because avo works off chain link oracles it didn't update in time and we're back at like eleven hundred it's i mean it can still get liquidated but this position had about 200 million dollars worth of debt uh but apparently it doesn't belong to three hours capital i mean i was under the impression that it was because it was marked as that in the nansen uh tool that people use to track these things but that has since been removed so it's not confirmed that that is 3ac but still that's a pretty big

position i mean it was over two hundred thousand eight worth of collateral backing that position uh pretty big position to get liquidated if that happens so uh i'll i'll kind of like share more details about three arrows as it comes to be because i think the thing with three iris capital is that a lot of people thought they were uh one of the the kind of like better funds in this ecosystem that made a lot of money and i don't think i don't i don't mean better from like an ethical standpoint obviously they have uh kind of like been hit or missed there uh obviously there was this fame the famous tweet from suzu a few months ago where he said he abandoned ethereum they obviously spent a lot of time pumping alternative layer ones uh they were very involved in terror but in terms of performance a lot

of people assumed that these guys were making a killing i mean so did i i was you know when i heard about this i'm like you know surely not like they they must be making so much money but it seems they flew close too close to the sun and they basically uh wrecked themselves right from from what i can see and from what i can tell and the people that i've spoken to so i think this is a reminder that this stuff can happen to anyone guys like just because you have a lot of money doesn't make you smarter than someone with less money than you four digits or four figures portfolio or a 10 figure portfolio it's the same human behind the screen right it's the same brain it's the same grade it's the same monkeys behind the screen at the end of the day uh and yes i mean

maybe you'd expect these people with more money to have better risk management but it depends like if the money doesn't belong to them if it's like you know money from lps or money that they're managing for other people then they probably you know i probably have better risk management i mean not always but you know more so than the more often than not have better risk management and they're regulated more heavily too whereas i think with 3rs capital most of their money was personal funds so they probably felt uh i guess like invincible because they probably had a lot of big wins i think they did have a lot of big wins last year and it was their own capital so they were feeling a bit i guess more confident in playing with it hard and faster than they would if they were managing other

people's capital and it's led to this so this is i guess what what can be considered a black swan event i don't think anyone expected 3rs capital to become so i guess like stressed and distressed and you know people are kind of like attributing the price dump of 8 from 1700 to 1100 to 3 arrows and other firms that just needed the liquidity because if you needed liquidity to pay off debts and you're on leverage and you're going to get liquidated well you're not going to care what price you sell things out you're just going to sell indiscriminately to get that liquidity and other people are attributing that price move to that which makes sense i think and that's not to say that we can't go down further that people can't kind of like get liquidated there can't be more stress in the system but usually those big moves

like that definitely point to panic right it's not just normal selling from people it's people panicking for one reason or or another and it doesn't matter if it's a new person that's panicking because they they bought the top or uh an experienced fund everyone kind of like panics when they have to at the end of the day so there's there's that uh and then back to kind of like my tweet where i said that you know so many people have been humbled i mean it's not just three arrows like terror uh you know humbled so many people with so many funds it humbled do kwan i mean i don't think he learned his lesson but he's lost pretty much everything that he had not just the money but all the prestige that came with it he lost the entire community he lost everything basically and as i said

he he would he's either going to end up in jail or lawsuit hell it seems that he's in lawsuit hell right now and it doesn't seem like uh he'll escape jail in in the long term i mean maybe he will maybe he won't i'm not i'm not sure but it kind of like seems like it doesn't really have much anywhere to run from from here right and then we saw celsius blowing up as well another uh i guess centralized service that most people seem to think was legit i mean i remember warning against this uh quite a while ago because i didn't think they were legit and whatever else there is right there's there's always kind of a contagion that spreads throughout the system there's a lot of different lenders that that talk to each other that kind of like work with each other that have exposure to each other and it

creates like a daisy chain of risk at the end of the day you guys know my opinions on risk and how i view risk in things and i think that because a lot of the c5 space is very very uh opaque and you can't actually see what's going on it's very hard for normal investors to see all of this until the market turns because you know a lot of people one won't pay attention in bull markets because they don't really care that much but two it's it's just something that we don't really have much insight into on chain we do because we can see all the positions but off chain stuff in the c5 world you don't really get to see what's going on there unless you're involved in those ecosystems and even then there's only a few people who get to see the real big

picture of everything so when you take all that into kind of like consideration uh it kind of becomes very very hard to see the state of the system unless people start getting wiped out unless the unless people kind of like starting feeling you know the weaknesses of the system and there are a lot of weaknesses uh but in saying all of that look guys i don't think anything's fundamentally changed for ethereum in particular in terms of like a technology i think ethereum as an ecosystem a technology community whatever you want to say whatever you want to call it is in the best place it has ever been i mean come on like the merge is still coming the merge is still happening it's not even about what the merge can do for the price it's about what the merge will do for ethereum uh layer twos are still

growing and thriving and building i mean everyone's still building that was building before in terms of the ones who are here for the long term obviously there's a lot of short-term builders who are just here for the money that are leaving or will leave relatively soon and they'll kind of just bow out or run out of money as well so but just generally it doesn't i don't really care if the price is where it's at like um this is just kind of like what the markets are gonna do i explained my view on the market the other day i'm not gonna rehash it here but i think that in terms of like the tech side of things ethereum is in the fundamentally the best place it has ever been in for a bunch of different reasons and you guys know those reasons if you've been

listening to the refuel and you know on that note as well the the people watching the refill the number of people watching the refuel and listening to it on the podcast and reading the delegate newsletter hasn't gone down guys at all like i i think on the videos we average two and a half thousand views um uh or or more and then on the podcast it's about a thousand listens there and then on my newsletter i have uh tens of thousands of subscribers there and the subscribers keep growing and the open rate is like 40 or something which is really really high so i think that you know i think that if you look at the daily grade community as one that he really is in it for the tech and that's that's how i've curated the community and that's why i've set the delegate up as i have because i really

wanted to optimize for people who are in it for the tech you can see that the people who are in it for the right reasons haven't left at all they're still here and they're still very very dedicated to i guess like listening to me ramble on about ethereum 30 minutes every day and reading the newsletter and being in the discord so that gives me a lot of uh a lot of stuff to be hopeful for because it it just shows that there's so many genuine people in the ethereum community that just aren't here just for the money right and we'll stick around even when it has dropped so much like like i won't sugarcoat it it's been a very brutal drop especially for people who got into this ecosystem uh last year like we are below the old all-time high like the last time eth was at 1100 was

january 2021 and it didn't didn't stay there very long it went it kind of like went up really quickly from that uh and you know it's it's it's definitely not a fun time for for many investors but the thing is i think people see the long-term vision they see the vision of ethereum as a technology and what it can do for the world and they want to stick around which gives me a lot of hope anyway so i'm going to leave that at that but i just wanted to give some more i guess context around my thinking with regards to that tweet and also i guess to wrap that little portion up there's one other thing that i wanted to talk about which is more positive where i said the firms that have a lot of cash right now such as a16z and paradigm must be very happy

they quite literally get to buy the blood of their competitors at bargain bin prices so you guys know that a16z and paradigm both raised mega funds recently i think combined they have what seven or eight billion dollars to deploy yes a lot of this is going into private markets but uh a lot of it can also go into public markets right and it kind of like gets to a point where the public market valuations of some of these things get so attractive that it's actually worth it for these teams to buy on public markets or buy tokens that are publicly traded rather than going in the private kind of like sector or private markets because it's just such a good deal to have on the public market so um i think that these phones in particular particular paradigm are really well capitalized i mean i replied to someone who said that

they didn't think these firms were happy and i asked you know why not they operate on pretty long time frames five to ten years uh plus fred and matt who are the co-founders of paradigm bought a lot of eighth during the bear last time and made out like bandits they bought hundreds of millions of dollars worth of eat last time and made billions off of that trade i'm pretty sure and then i said they're well capital capitalized liquid and have a long-term thesis on the space can't think of many other firms in a better place right now and the same is true for individuals if you have dry powder and if you have a long-term thesis and if you are able to kind of like deploy that dry powder without putting yourself in a shitty position then you have opportunities right now i'm not going to tell you uh whether you

know it's it's a great time to buy eth or not right but you have opportunities right now and it's not just if there's plenty of other things out there so if you do the research and if you're kind of like content with holding it for the long term then yeah i mean you have much more opportunities now than you did back when the bull market was raging because things just got overheated then but now it's calmer less noise more signal probably easier to spot those uh those bargains and those deals out there so so yeah just wanted to kind of like wrap up with that all right so speaking of fundamentals we've got some merge updates today so the sapolia test net configuration is now out the genesis time for the sapolia beacon chain is monday june 20th so you guys know the drill here we need to spin

up a new beacon chain for uh i guess like um this polio test net just like we did the robston test net and then this beacon chain will be merged into uh this polio kind of proof of work chain or i guess execution layer chain at the time of the sepoli test net merge which i'm expecting to be later this month um at worst early next month and i will be hosting a community call uh for that one i like the robson community call i think i'm going to be co-hosting it with each staker so that should be pretty fun but there'll be more details about that as we get obviously a uh a merge window once uh the kind of like sepala stuff really gets going here but yeah the the testnet conf figures out which is really really cool to see there and then we have

another tweet here from uh matteos who says we are ready for the sapolia beacon chain genesis we deployed a bunch of nodes on a kubernetes cluster using the other mine and lighthouse uh combination yet another contribution to the merge here so you can just see this kind of like video of it being deployed there so as i said these will run uh the beacon chain genesis will happen on june 20th and then the emerge will happen hopefully uh late june early july and then after that goes through successfully which i think it will i don't really think there's going to be any issues there we will schedule girly and then once that is done successfully we will schedule mainnet merge really really close guys like it's so close um i'm just so excited right the merge is still happening as i said like this the price action has not really

done anything for the merge in terms of uh timelines or in terms of like um fundamental stuff like the the work on the merge continues in different to whatever the price is so very very cool to see that uh last update on the merge was that mainnet shadow fork 7 configuration is now available the ttd for mainnet shadow fork 7 is planned for wednesday june 22nd at 2pm utc here so as i said guys these main net shadow forks will be run in parallel to the test net merge transitions uh to the public test net merge transitions and this will just keep happening basically right up until main net merge i would suspect just because we want to keep running these things we want to just test as much as possible as i've gone through it before test test test is the

most important thing when it comes to everything got to do with the merge it doesn't matter if it is on public test nets or mainnet shadow forks having both is better than just having one so if you're interested in getting kind of like contributing to this you can check out these links from andrew here i'll link it in the youtube description below all right so another update uh from the ethereum.org team today so uh you're preparing for the merge with the new merge readiness checklist on the launch on the staking launch pad which is a new tool they've got here you'll find action items merge related resources and information on testing the merge to make sure you're ready so you can see here the merge readiness checklist i guess this is this is mostly for solo stakers and uh kind of like

application developers as well um in terms of if they're running their own infrastructure and things like that and if you're running i guess like an eth1 node or an execution layer node this may be relevant to you as well so it's just a task list so there's three tasks and then a bonus as well to make sure that you are ready especially if you're a solo staker so this is obviously uh very very important to myself because i am a solo staker hopefully some of you are as well but definitely go check this out even if you're not there might be something in here that may be of interest to you or maybe you just want to kind of like uh read up on this and and have the knowledge ready just in case you're working towards being a solo sticker because it's it's never it's

never been easier well i mean i shouldn't say never but it's probably the easiest time in the last 18 or so months to be a solo sticker because it's cheaper to be a solo staker like 32 right now is what just over 32 000 us dollars i know that he's still expensive it's not cheap but it is much cheaper than what it was a few months ago and it was over a hundred thousand dollars right so i think if you're working towards your own 328 to become a solo staker even if you don't have it yet it's still interesting to check uh to check this out and to be aware of that this exists simply because uh you you know i'm confident a lot of you will get there eventually and you'll kind of obviously need to look at this and be aware of this once

you do get there so i'll link it into the description uh below all right so our announcement out of open seat today they've officially moved to the seaport protocol which is their i guess kind of like set of decentralization tools that they're building out um for kind of i guess like nft marketplaces so they estimate that this new contract will save 460 million dollars in total fees each year but uh that's not all let's go through all the updates so there's a thread here with the updates very very kind of like small thread but the up major updates include collection offers no setup fees uh coming with with kind of like a bunch of other features coming soon uh and you know they're saying like this is just the beginning and everything like that i have uh mentioned i guess uh

i was gonna say i have mentioned seaport before on the refuel and i have mentioned how i think that the they're kind of like doing this because i i reckon seaport will have a token eventually because obviously open c was kind of shy about doing a token they wanted to ipo then this would make sense for them to do that where openc can basically ipo as a centralized company and then seaport is that decentralized infrastructure that open c is just running on top of and then c port would have a token so i don't know what the timeline will be like on this i don't know what the distribution will look like i don't even know if there will be a token this is just me speculating but if it kind of like if i was a betting man i would bet on them doing a token

for seaport not for open c it just makes more sense to me from that kind of like perspective and i think we're going to see more of this hybrid approach where they centralize companies build decentralized infrastructure in the form of a protocol then they migrate their centralized entity to that protocol and just build on top of it and then allow other people to build on top of it as well and kind of have a token for just the protocol not the actual infrastructure that the centralized infrastructure because it just makes sense uh from the the protocol perspective to to have a token there so we'll see how it shakes out there but cool to see that openc has a migrator 2 seatbot protocol here all right so calvin fichter from the optimism team has updated this simple optimism node setup with more beginner-friendly instructions you can

go run an optimism a node today if you would like to do so and as he said that there is uh kind of like more beginner-friendly instructions here so in terms of the recommended hardware there's 16 gig of ram needed 500 gigabyte of disk uh you can use your hard drive for now but solid state drive is obviously better and a 10 megabits per second download speed so not too crazy on the hardware requirements here you could probably run this in parallel on your own staking box if you wanted to uh so once you've got that kind of like hardware you'll need the docker software and then you can kind of follow the steps here in order to run your own optimism node this is really cool i like the fact that optimism is already encouraging people to run the their own nodes because at the end of the day we

want these networks to also be decentralized and we don't want them just kind of like being run by optimism yes with layer twos it becomes like a one of n uh trust assumption where you only need one honest sequencer one honest kind of like player in the game in order for your transactions to get through but uh that still comes with censorship trade-offs so we definitely want as many people running full nodes as possible and as many people running uh sequences and stuff like that later down the track as possible as well so yeah if you're interested in this definitely check out this uh little guide here i'll link it in youtube description all right so superfluid announced that they have been uh they've built a working prototype for the world's first cross-chain asset asset streaming bridge with connext and nomad so the ability to

stream money between blockchains will transform on chain businesses this is what superfluid is saying here and there's a thread about what uh kind of like what this enables and how this all works this is pretty cool because obviously we're going to live in a multi-chain world and i think that i mean obviously you guys think know that i think that the multi-chain world is basically ethereum and it's l2 ecosystem and if we are well then we need ways to bridge basically everything conext is one of the leaders here in that space uh nomad as well was kind of like working with connects then and working on that technology with them and superfluid is a leader in the money streaming uh i guess uh uh kind of like space as well and i should disclose here i'm an investor in both superfluid and connects there just

to get that out of the way um but they they're kind of like leading the charge here and i think money streaming in general is such an underrated uh feature in uh in crypto or an underrated use case uh but i think as it gets integrated with more of the stuff that requires payments more of the stuff that require that kind of like people can get value out of such as the use case that i've given before is basically being able to be paid by superfluid on like a block by block basis and then be able to automatically stream that money into like a money market protocol for example so you're automatically earning yield on it and this obviously wasn't economically viable on layer one ethereum but it becomes very economically viable on layer two so from that perspective having a bridge between the layer two is also very important

so it's really really cool to see this from uh superfluid connects and nomad here i'll link it in the neutral description for you to check out below all right so the zk roll up directory has been upgraded to version 2.0 and it is now live at zkrollups.xyz so it seems to have like a brand new design much better ui ux overall and you can basically see all of the kind of like different projects and infrastructure and middleware and all that good stuff building in the zk space so there's categories on the left here you can search between rollups you know wallets infra daps et cetera et cetera roll ups is pretty cool because there's 16 is ek roll ups right now i guess like zk related roll ups uh from various different teams obviously you can see

here that stuff stuff like stock net zk sync scroll you know polygon and a bunch of others here as well and then you have the wallets that are supporting them already so there's about 20 wallets dapps is pretty interesting there's 89 daps right now some are live already some are on the test net and then you've got nfts games and other kind of categories here so definitely go check this out if you're interested in what's happening in the layer 2 zk space because i think that's one of the most interesting spaces right now in the ethereum ecosystem it's definitely something where it's very geeky very nerdy very very builder focused not much stuff for an end user to play around with just yet so if you are a builder it's probably a place where you want to be but this is kind of like what the

future of ethereum is going to look like what the future of layer 2 is going to look like so definitely don't sleep on it as a developer and get involved maybe you can build an app that you've always wanted to build on a blockchain you were just kind of i guess limited by layer 1 ethereum but you won't be limited on these zk roll ups here so i'll link this in the youtube description you can go check it out so speaking of zk roll ups just wanted to quickly highlight that polygon is uh teasing that a zk roll up is coming soon so as you guys know polygon has like many zk stuff that they're working on they have like maiden and and hermes and zero and uh they're hybrids like um like uh what's the nightfall and they have a bunch of other things that they're

working on as well so i mean i i think they they've teased before that they're gonna get a zk avm to main net by q3 or q4 i think it was so that's maybe coming soon they've said like they're just t zk roll up coming soon right i don't don't know what this is but we're gonna have to keep an eye on that and see what it is but i'm very excited for it i'm very excited for zkvms to go live in general and see how they fare there's there's more than just polygon working on them there's there's scroll uh working on zkvm and a few other teams i believe and i think it really is a race to get to to get to get to that in order to kind of like have something workable for developers to build on and to see how it

fares against something like optimistic roll-ups but as i've said in the past i think there's room for both of them i don't think one is going to usurp the other at least not for a very long time and i do think that if something like zk rollups is strictly superior to uh optimistic roll-ups there is a path for an optimism or an arbitrarium to migrate to being a zk roll-up which is really really cool as well so all that's coming scaling is getting better scaling is is just on fire i think still like they haven't slowed down in terms of the actual infrastructure and the applications and as i said a lot of these teams are very price insensitive because they're building for the long term so they just kind of release stuff when it's the right time to do it they just keep building uh and then and they

probably feel less pressure now which is always a positive thing uh for these teams all right so speaking of polygon again just a quick shout out here that uh obviously there's been a lot of cuts in the kind of c5 space lately such as coinbase and blockfi but polygon is increasing their head count so they want to increase it by 15 this year and if you have impacted being impacted by these layoffs well ryan says here they have a number of open roles for a business development engineering solutions and partner management uh so definitely go check them out if you want to work for polygon and if you fit into any of those categories but don't just stop there cryptocurrencyjobs.co is another place where you can kind of look at a lot of the jobs available for you uh kind of

right now and a lot of the uh kind of like different paths you can go down doesn't matter what it is i mean it's pretty much a job for you just because you're seeing layoffs of kind of like these big companies doesn't mean that other companies aren't hiring guys like it's never like that it i mean i personally think that coinbase just way over hired during the uh the bull market or kind of like during the mania and now they're like oh like we're in a really deep bear market we need to cut because we've we we've looked at our revenues and we probably can't keep up with this and i explained this all yesterday so i think there's a lot of that going on so don't be dissuaded don't think that oh no these big companies are cutting stuff it must mean all these other small companies aren't

hiring anymore not at all i've seen plenty of companies say on twitter that they're still hiring and there's literally hundreds if not thousands of jobs still available so if you are still looking for a job in crypto definitely go check out polygons open roles but check out all the other open roles at cryptocurrencyjobs.co all right i've got a few minutes here i want to quickly just give one uh last thing one kind of like last um i guess nugget of wisdom about the markets that i've i've really been thinking about today there's this kind of saying that i think a lot of people ignore when it's a bull market where people will tell you bear markets can get a lot more brutal than you think they can did anyone think that eth would go below its all-time last all-time high of what

fourteen hundred dollars most people did not i'm telling you right now like all the people that i spoke to uh pretty much didn't i think there was maybe one or two that said it was a possibility did anyone think the eighth was going back to triple digits which it hasn't technically yet but i mean i wouldn't be surprised if it does uh certainly not so bear markets it doesn't matter what happened in the past it doesn't matter like if the fact that there was a precedent that you know uh these coins have never gone below their old all-time high none of that kind of like matters i think i think history you can look back on and learn from it but at the end of the day it doesn't repeat it may rhyme but it doesn't repeat so i think going forward for a lot of

people they really need to hammer this lesson home into their brains that in a bear market things can get way worse than you think they can for a number of different reasons but the same is true for a bull market where things can get crazier than you think they can but at the end of the day uh when it comes to i guess investing in these kinds of markets if you're buying or selling i still think uh dca strategy is probably the best way to go about it especially if you've got like a constant income coming in because you're never going to sell the top you're never going to buy the bottom well i guess like the exact bottom or the exact top uh and and kind of like by trying to do that you you're kind of like risking a lot for little upside it's better to dca when

you feel comfortable doing so and dci goes both ways either buying or selling then just kind of i guess picking a target price or picking some percentage down or percentage up where you start selling and also having a plan before a bear market hits and before a bull market hits can also help you a lot so for example if you are buying eth now you should have a plan for two to three years from now uh or you know how long it takes for us to get back to the all-time highs and the peak of when you'd start selling and how much you would start selling like at the end of the day not everyone's going to hold their wreath forever like i don't expect people to do that either but if you plan to use ether as an investment vehicle well if you're buying it today maybe you

think to yourself okay well i'm going to start selling when it hits you know thousand dollars and three thousand dollars four thousand dollars and you you could kind of like uh i guess adjust how much you sell at each point and things like that as well but it's totally up to you the way you want to play it and i think the people who have succeeded most in these markets are ones that did that some of my friends did that and they started selling on the way up at about a thousand dollars and i at the time i remember thinking to myself wow these guys like they're selling really early but the point wasn't that they were selling early the point was that they were actually taking profits and they weren't getting carried away by greedy they stuck to their plan that they made during a bear market and

they're doing fine now and they have a lot of dry powder to buy the dip like yes they've started selling at a thousand dollars but they also sold to three thousand dollars and now using that ammo to buy ether this price point is pretty attractive right so when you consider all that i think that that's the better strategy to take it's not investment advice but that's just kind of like a strategy that i've seen work for a lot of people but you have to kind of come up with your own targets for where you buy where you sell how long you hold something for and when it comes to anything except e there's a lot of other things to consider i think as well in terms of like do you cut your losses because the project looks like it's going to fail i mean with eighth you can

be relatively certain it's not going to fail i mean i'm 100 certain ethereum isn't going to fail but you you guys may not be but with other projects i mean i can't even put like a 50 uh certainty on most projects you know out there right now so it becomes much much harder as you go down that risk curve as i've discussed before but anyway i'm going over time now so i'm going to end it there for today thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone