Arbitrum Nitro devnet live, Polygon Avail detailed - The Daily Gwei Refuel #350 - Ethereum Updates

7 Apr 2022 · 28:39

Anthony Sassano covers the Arbitrum Nitro devnet launch on the Goerli testnet, which is due to reach Arbitrum One through a seamless migration that needs no action from users, and a thread arguing that optimistic rollups stay powerful even if zero-knowledge (ZK) rollups win in the long run. He looks at rising beacon chain deposits, mostly through liquid staking such as Lido, and urges Rocket Pool to invest more in marketing. He then walks through his summary of the Merge to proof of stake, including large cuts in energy use and ETH issuance, before reviewing Loopring's Q1 report and Polygon Avail, a data availability blockchain due on testnet in Q2. He closes by cautioning long-term investors against reacting to day-to-day price moves.

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hello everyone and welcome to another episode of the delegate refuel where i cut the latest news in the ethereum ecosystem i'm your host anthony suzanna and 37th of april 2022 all right everyone let's get into it so some massive news out of arbitram today that the arbitrary nitro devnet is now live so obviously arbitrary nitro has been teased for quite a while i've spoken about it plenty of times on the refill before and i believe it was first uh spoken about later last year i believe uh and it is finally on devnet now uh in this blog post off chain labs describers basically describes basically what it is and the tldr is basically arbitrary nitro is ready and today we're launching a fully featured nitro devnet built on ethereum's girly test net we're also opening up the code base and detailing

our plans for a seamless arbitrary one migration arbitrary nitro is the most advanced roll-up stack ever built and it enables massively higher throughput and lower fees and developers can start building on nitro devnet by following this kind of link here and you can get eighth from the twitter four set now i'll let you guys read to the blog post yourself of course but basically um i want to kind of like make it clear to you that this is arbitrary nitro as it will be on main net so this is basically it's obviously on devnet right now which i mean but kind of like the test network on the goalie test net for developers to kind of familiarize themselves with but this will be what's deployed to ethereum main net on to i guess like the arbitration one main net once uh once it's ready to to go there

and also they've talked about the migration here so the way the migration is going to work is that you won't have to do anything they want to make it as seamless as possible for both users and developers to basically just keep using the arbitram one network that they know and love but with all the benefits that are coming with nitro such as faster and cheaper transactions which i think is really really cool i mean you remember optimism had to do a re-genesis event when they did their ovm 2.0 upgrade and it was fine for them to do that at the time because there wasn't much activity on optimism back then there's only a few apps but they couldn't do it again now there's obviously a bussing ecosystem on there now and same with arbitram right there is just too much kind of like applications too many users too much

kind of um value on these networks now for that to happen again so any of these future upgrades that need to take place will need to basically be done uh as kind of like a seamless upgrade uh kind of what happens with ethereum layer one right where we do hard forks and it's not like we have to kind of get everyone to migrate across it's all done seamlessly in in the background and that's you know they're gonna be the same thing for the merge which i'm going to talk about a little bit later but basically you you have to do it when the network has that much activity on it there's no way you can coordinate everyone around you to to successfully kind of migrate across uh it'd just be way too much overhead so you've always got to find that seamless way to do it there but i'm super excited

for this i mean as i mentioned you know later two's like arbitrary and optimism and all the others have uh have a lot of activity on them uh these days so you can go into l2b and kind of track all this there's over seven billion dollars of tvl in these l2s uh right now four billion dollars alone in arbitram uh dytx is stopped there with a billion optimism 633 million and then you can kind of like see the rest here but they're growing quite nicely and it's not just the tvl i've noticed that the the the unique users and the transactions on these networks are going up and kind of like the fee revenue that they're generating as well which is always a good sign uh and this is all without native token incentives for something like arbitram right like obviously there are projects on

arbitrary that will be doing their own token incentives but the arbitrary network itself doesn't have any token incentive it doesn't even have it doesn't have a token yet i guess it's probably gonna have one in the future but i think the longer way that these networks can go um with getting adoption without doing native uh native token the better because then when they do their token it can act as a compliment rather than something that is like critical to the growth and success of the network and i think that's the way a lot of these teams are playing it obviously i mentioned yesterday polygon has their new liquidity mining program for the polygon pos chain which is going to be a good case study i think it's going to be um something that that'll be really good to study and see kind of like what happens with it and see how

successful it is because then maybe some of these other scaling teams can can look at that and and use that right and use that in their own kind of like program so that's very very exciting but yeah if you want to learn more about nitro and everything that it entails and kind of like what the the process is going to be going forward from here definitely check out this blog post uh yeah i'm super excited about it uh and on that note as well paulina had a great thread about arbitrary nitrous announcement today where they said arbitrary nitro is an incredibly flexible and future-proof architecture and here's my speculation am i being pollinated speculation uh run any vm virtual machine fraud proves validity proofs or future proving tech alternate constructions like any trust which are strictly superior than alt-l-ones and decentralized sequences

and then polynomial continues by saying a common misconception is that arbitrary or optimism will lose because there will forever be optimistic roll-ups firstly that's ignorant ors are incredibly powerful and will be for years to come yes some of the early implementations were lacking but they are improving rapidly at the same time i strongly believe zk rollups are the end game and at some point in the next two to four years will decisively surpass ors with nitro and canon canon being optimism's prover um architecture both arbitrary and autism have a direct path forward to validity proofs either optimistically or pessimistic pessimistic pessimistically ia zk roll up so this is i guess something that i've been telling you guys for a while that optimistic roll-ups today and probably in the next kind of like couple of years are going

to be the the better solution just until we kind of like get these zk roll ups uh kind of like out there and these zkm avms out there and get the costs down get the proving costs down but at the same time it doesn't mean that they're going to be made obsolete or they're going to kind of like be left in the dust i really do truly think that there is a world where we have both very successful optimistic and zk roll ups and then it just really comes down to uh kind of like the user experience and as i've described before it all comes down to the user experience where as long as the fees which i believe are going to trend towards zero are consistent across all of these layer 2 networks as long as they're they're fast right i mean realistically you can you

can get it to be as fast as you want you can get like sub second transactions but realistically like a one or two second transaction confirmation speed is is fine right for for end users they don't care about that but i guess like if you want uh if you wanted to be you know faster than that within kind of like sub second maybe machines care about that maybe bots and stuff like that but for end users the way i kind of think about it is when you like load up a website right uh i think the click-off rate for for a website uh goes up dramatically if it takes more than a few seconds to load the page i think the same thing would be true for a kind of like a transaction on these l2 networks so and they're already at like one second or less so i mean getting getting

it faster than that which nitro aims to do getting it's kind of like sub second transaction confirmations here is is just the cherry on top really at the end of the day like i personally don't mind waiting two seconds for or even three seconds for my transaction to be confirmed uh but then after that it starts to get a bit of a drag right depending on you know what you're doing if you're a power user you definitely want to have it as fast as possible um but it's the same kind of logic that i have towards loading up a website like a website doesn't load within a few seconds i will one i'll be like okay it's my internet down two i'll be like okay is this particular website down and or three i'll just be like oh okay this particular website just kind of like um

uh coded up wrong or they've just kind of like not taken into account efficiency or anything like that and i'll click off right and within that time that's like 10 to 15 seconds right there so you obviously want to make it so that the users don't have to think about that sort of stuff that things just always load seamlessly within a couple of seconds at most i think the same is going to be true for transactions that these layer twos and they already do it today as i said it's one second i mean arbitrary optimism and all the others super fast transactions don't have to worry about them uh which is which is really really cool but uh yeah great thread from polynomial here just adding more context around arbitrom's announcement today around the nitro devnet being live all right so a great great tweet here

from data always again where they said beacon chain deposits have been about 10 times the burn rate for the past month liquid staking accounting for about two-thirds of new inflows 3.96 billion dollars total the last 30 days so i've been talking to you guys about how beacon chain i guess deposits each taking deposits have been going up exponentially and the validator queue has been staying around 13 000 to 14 000 right now if i check it it is 14 100 it went up again like we're clearing 1200 validators a day but it just keeps going up there is so much fomo to stake eighth right now it's totally insane uh and this chart kind of like shows that you can see here from basically when the beacon chain went live the rate at which uh the dollar denominated kind of um

heath was going in now obviously the dollar denominations are going to change depending on the eighth price but the eighth price was higher in may of 2021 and in uh i guess like october november of 2021 uh than it is today but today we have more dollars denominated each kind of like staking demand going in as data always says here four billion dollars in the last 30 days alone which is crazy now there is a bit of an issue here i think in that a lot of this staked is going in via uh liquid staking services uh such as such as lighter and two and i think as i pointed out the other the other day the majority is going uh through via lido obviously we want to be promoting alternative um solutions like rocket pool uh there's

one called swell network that i became aware of the other day uh and that you know i'm sure there's gonna be others out there but uh that that's one thing that we definitely need to be kind of like conscious of but at the same time as i said before i don't think lido is that bad like i actually think it's much better than a centralized exchange for example because at least lighter distributes the stake uh rather than kind of like a centralized exchange which doesn't do that so i think when you kind of like take that into account and think about it from that perspective it's okay uh but then you know when you when you kind of like think about it uh as kind of like a centralization risk well yeah okay we could be doing a lot better here and that's why i promote all the other you

know staking liquid staking providers especially the decentralized ones like rocketpool because we definitely want to kind of like push more adoption there and want to be aware of it now it's not something that i see a lot of people talking about and i guess that's because it's just kind of like a more of a nuanced issue it's kind of like the client diversity thing uh and it's kind of like hard to convince people to go with with one solution over the other if they've already made their their um their mind up and it's also kind of like i guess a awareness thing like a lot of people may be aware of lido but not aware of rockapool and that comes back to marketing i actually think that the one thing that the rocketpool ecosystem is lacking is marketing and business development that needs to ramp up if

they want to be if they want to grow to what they want to get to i know a lot of people that are a part of the rockapple community listen and watch my show so take that as a bit of feedback guys like if i had to give any feedback it would be that you need to ramp up marketing and business development because lido definitely does a lot of it right they do a lot of marketing in bd especially in the background and they're able to onboard bigger players because of that as well so that's something that that uh rocketpoint other services should focus a lot of their efforts on if they want to take market share away from later uh because if they don't then yeah i mean it's just gonna the east the liquid eat steak is just gonna keep it being um

concentrated within the lighter ecosystem uh which which you know just is kind of gonna be the way it is for for now but anyway cool to see a lot more eighth going into staking regardless are very excited to see this trend continue over the coming months all right so actually i'm going to cover this tweet first i put out two tweets today i was feeling incredibly bullish so i was like you know what screw it the eighth price already dumped if i put out bullish tweets now it's probably not going to dump the price and it didn't but anyway jokes aside i put out this kind of like tweet where i summarized the merge i said the merge is summarized and you guys know all this already but i'm just going to go through it for the sake of for the sake of it the ethereum

network will be fully proof of stake right no more proof of work mine is completely gone it'll be a full proof-of-stake network one ethereum network uh secured by the beacon chain they'll and because of this there will be a 99.9 energy use reduction which is an actual figure put together by people who did actual research on how much of an energy reduction that will be coming with proof of stake this isn't just me pulling a number out of my ass this is backed by real research then there's an 80 to 90 percent east eastern introduction which we all know about already this is something that gets talked about a lot it's called the triple harvening as um as uh the term coined by squish chaos i don't need to repeat myself there uh the staked apy is going to increase uh that's because of the unburnt fear of

when you go into stakers and possibly mav as well i've talked about that a lot it becomes net deflationary because right now as long as the gas price is above 20 gray uh it's enough to keep eating that deflationary every single block post-merge which i think a lot of people aren't aware of i think people are still got hung up about and this is like the lowest iq take that i see when people say things like oh but eth has a limited supply it doesn't have a supply cap blah blah it's like guys like pay attention like stop being stupid and just pay attention for a second like i i i just can't believe that people are still saying this when it's kind of like that you can see that we're burning eve and post merge you can see what the issuance is going to be it's not hidden

it's literally directly coded into the protocol it's freely available information and you can see that post merge as long as the gas prices as at 20 gray i think or above eighth will be net deflationary every single block so he gives a about a supply cap right i i just yeah it's just puzzling to me it's it's and most of the time it's just bitcoin is and i think the bitcoin is just coping here uh and just trying to kind of like be bearish on eighth when it's kind of impossible to be bearish so so yeah anyway rant over there mini rant over there and then the last point is one that's very very misunderstood i noticed from reading through the replies where i said no new eighth enter circulation until at least six months after the merge now you guys know this is because withdrawals of

staked eighth and rewards aren't enabled until the shanghai update which doesn't come out until at least six months after the merge so there's a lot of confusion around this still like a lot people like you know how can there be no new eth entering circulation well it's because like all the rewards earned up until this stage from december 1st 2020 when the biggen chain launched to today or until the merge are still locked post merge because we don't have that withdrawal um logic in in kind of um the network so no one can withdraw any of the rewards and they can't withdraw and they also can't withdraw their stake as well right until and then there's a limit on that as well because there's an exit queue and then i finish this tweet off by saying you don't own enough eight i mean none of us will ever own enough

eighth i mean you know what like it's just i mentioned that i mentioned this yesterday where i said kind of like how how bullish i was on on either and how i i continue to be and i just get more bullish over time um but i'm not going to rehash that what i wanted to focus on here actually was one point which was this energy use reduction i really do think people still underestimate how good this is going to be for the ethereum narrative in the mainstream non-crypto space because we think about it the narrative right now around proof of work is horrible and it's it's so bad that a lot but the majority of people that aren't in crypto hate crypto because of proof of work especially the nft crowd now imagine when we basically get off proof of work and we don't have to deal

with that anymore we can basically say look we changed from proof of work to proof of stake we've reduced our energy footprint by 99.98 uh and you know you may think that nfts are scams but at least then you know they're not harming the environment anymore sort of thing and on top of that then and this is actually bad for bitcoin there's going to be a lot of people asking the question of why can't bitcoin do this and now obviously you know those of us in the ecosystem know exactly why it's not just an easy thing for this to happen i mean it wasn't an easy thing for ethereum to switch from proof of work to proof of stake and obviously for bitcoin to do it would be not if not it wouldn't be a technical challenge it would be a social challenge now that narrative is going to get even

worse for bitcoin they're going to have to deal with the proof of work is bad narrative whether that's right or wrong it doesn't matter they're going to have to do with all the hate that comes with that assault and they're going to be the only network that has to deal with it because the rest of them don't really matter like dogecoin and litecoin they're tiny compared to bitcoin in terms of energy use so they don't matter at all and ethereum will no longer be proof of work uh after the merge and then they have to have to deal with everyone saying well ethereum changed why can't you and i know bitcoin is don't care about this but it actually does harm adoption i think of of bitcoin because a lot of the bigger money isn't going to want to touch bitcoin if it becomes too toxic uh

and it's it's sort of like how a lot of the bigger money doesn't want to touch certain kind of like things if they become too toxic certain brands and stuff like that certain stocks uh certain companies and they tend to pull out because of that especially if the management the money that they're managing is telling them hey you know their clients are telling them hey we don't want you touching this technology because we believe it's bad but yada yada it doesn't even matter if it's true or not all that matters is if you know the institution or the big money stands to lose customers or money they're probably going to take the um take the easy easy kind of like way out and say okay well you know we're not going to invest in bitcoin we're going to invest in these other things so i

think that there's going to be a lot of tailwinds uh a post-merge especially around the kind of like energy use reduction and a lot of headwinds for bitcoin as well so that's a bullish eighth bearish btc case um and that staked eighth apy increasing as well was going to lead to a lot of new eth being locked up which i think people don't realize that it's happening right now that's why the validated queue is so big because a lot of people finally clued into the fact that hey you know the post-merge the api is going to spike and you're going to get like a near risk-free yield on your wreath and if you do it through liquid staking services you can still keep exposure to the eighth and still use that in define things like that so yeah taking this all together guys it's the merge is going to be the most

bullish thing in ethereum's history to happen i can't think of anything else that would be as bullish to be honest so this is really it and you know i don't think that it's it's not like it is not going to keep increasing in value after the merge or you know for years after the merge no not at all but in terms of the impact that the merger is going to have as i as i summarized here there's nothing else in ethereum's roadmap that will come close to this yes obviously sharding is a really big deal yes there's a few eips in there they're a big deal yes stuff like statelessness and vocal trees are a big deal but they do not touch the amount of things that the merge touches they cannot be uh reasoned about in such a way that i'd be given like a really good

narrative you know nothing beats an eighty ninety percent eighth eastern production narrative like that alone not even accounting for everything else that alone is massive right in terms of kind of like eighth value accrual and then you kind of layer everything else on top and yeah so this is why the merge to me is the most exciting thing that's ever happened in ethereum and possibly going to be the most exciting thing that will ever happen in ethereum but that doesn't mean there won't be a ton of other exciting things coming down the pipeline but if you're around now guys you are literally going to be a part of history and going to be a part of the biggest thing to happen in ethereum let alone crypto i think this is the first time that a large crypto network will be hot swapping their consensus from proof of

work to proof of stake this is unprecedented so again stick around for the merge for sure because it's going to be something really really amazing it's going to be something really uh really cool to be a part of and i think just just having that memory is going to is going to serve you well going forward so yeah anyway that's enough on that tweet and then i put out another tweet which was again i believe very bullish where i said sailor michael sailor started buying btc in august of 2020 and has so far accumulated 129 000 btc worth 5.6 billion dollars of which he can sell whenever he wants the ethereum network started burning eth in august of 2021 and has so far burned 2.08 million eighth worth 6.6 billion dollars of which can never be recovered

so obviously this is not like a direct comparison it's kind of like maybe apples to oranges but the point of this tweet was for me to show that in half the time that uh that it has taken sailor to accumulate btc worth less than the amount of um eat that's being burned uh yeah we've burned like more eath than sales accumulated in just half the time and on top of that sailor can sell whenever he wants he says he's never going to sell but it doesn't matter what he says right like i don't trust what people say especially people like sailor uh and he could be forced to sell for any number of reasons as well uh maybe he dies and the btc goes to uh you know someone else that sells the btc or anything like that

right you can't just say he he'll never sell or it'll never be sold because that's just not a guarantee you can make whereas with the burned eth the only way to recover this eighth like i said of which can never be recovered because i ran out of tweet space there is one way in which this can be recovered and that's if the entire ethereum network was to put through an eip that basically says hey let's you know recover all the burned eth and put it back into circulation the chances of that happening are basically zero percent like it's not exactly zero percent of course because there's always a chance it could happen for whatever reason but it's pretty much zero percent so from that point of view you can have a guarantee or almost a guarantee a 99.99 guarantee that that eighth is gone forever never be recovered and you can

verify this by looking at the ethereum network itself and guys this eighth burning exists forever and ever and ever it doesn't stop it will exist for a hundred years from now 200 years from now as long as the ethereum network is is live and people are using it and paying gas fees on it there will always be some amount of eighth being burned perpetually forever unless again the the network or the community decides to remove the burn or something like that which can happen right but i i don't see a reason why that would happen anytime soon or ever to be honest maybe it does i mean who knows in 100 years maybe something something something happens to to make that happen but yeah the ethereum america is going to be perpetually burning eighth for as long as one five five nine exists on it so

yeah again if you're not bullish enough already there's another kind of like bullish bullish tweet for you guys and i think that the funny thing is is that there are probably a lot of um big money out there that have been buying bt that have been buying eth as well uh since sellers started buying btc uh and they just aren't publicizing it like sailor does so yeah i don't know i think this is i mean you look at the ptc ratio it's outperforming right it has outperformed since august of 2020 as well uh and i think that nothing can stop the east train at this point anyway enough bullish stuff for today i've got a couple of other updates to get through and then we'll end it up so uh loopring put out their q122 report uh which is what we're kind of like an

update report here that you can kind of read through uh a lot of great stuff here so major milestones as listed here in the blog post over four point six billion dollars in trading volume on loop ring l2 over three million nfts minted over 65 000 l2 accounts and almost 30 thousand loot ring smart wallets are now activated with over 12 000 new wallets added in q1 alone you can see the growth here has been awesome for loopering kind of like flattened out during uh last year but has kind of exploded in value over a lot of over q1 i think that's uh due due a lot to their um marketing and business development efforts they seem to have a very big army behind them they're obviously doing stuff with gamestop and things like that but yeah very cool to see this because loopring is one of those l2 ecosystems

that are kind of like built from the ground up they're their own ecosystem they're kind of building their own thing and they're not piggybacking off any any of the other existing technologies and have full control over their whole stack which is a really cool approach i believe and they're actually you know driving value with not only with their trading volume with their exchanges but with nft minting and with their smart wallets and loopering pay and all that sort of stuff so very very very cool to see this you can read this whole blog post for a detailed breakdown everything loop ring but very very um exciting uh times for them uh the growth has been amazing i hope it continues for them i mean loopering is a very very ethereum aligned team they've been building in ethereum for a very long time now i think since 2017 is when they did their

ico so they're not a new team they're an old team that has just been grinding away building cool tools for people to use and if you're not on loot bring yet be sure to to get on there i mean the smart wallets are awesome they're kind of similar to arjun's um smart wallet if you've used that before uh and you know on layer two it costs a lot less to create one of these wallets on layer one it cost hundreds of dollars i think and that's why kind of like it was moved to layer two as well uh but definitely check it out i'll link this in the youtube description below all right finally here we have a polygon with an update on their uh kind of polygon avail solution here so essentially it's they've said they're sharing their vision of polygon unveil which is a new data availability

blockchain that improves scalability across the board now the way the way you can think about polygonal veil is basically polygon's answer to celestia if you guys have been looking into celestia lately and you can kind of like see uh how it all works here you have a veil as a data availability layer you have the execution layer and then you have the sediment layer obviously being ethereum there the execution layers can be uh anything from basically uh valydiums and validities to any truss chains with arbitrary and stuff like that and probably gonna avail just access like that data availability layer uh which i find to be very very cool and these are kind of like these hybrid scalability solutions that i've talked about before they're not technically layer twos or roll ups um if they kind of like have their data not secured by ethereum layer

one itself but uh they're still much more secure than alt l1 and stuff like that but you can read the blog post here to get more um information on polygon unveil and how this kind of like all works and uh they've also announced that avail is going to be on test net in q2 which is awesome i mean we are in q2 like april april may june is q2 guys so uh they'll be sharing kind of like more on this as time goes forward and kind of like when that goes live obviously they'll be announcing that as well so very very cool to see this definitely give this blog post a read if you haven't yet i'll link in the youtube description all right i have a few minutes left here guys i want to kind of like touch on one thing uh and i mean it's kind of market

related but not really so the market uh people kind of like actually okay let me take a step back here i wanted to touch on the what i think is really really silly and what people do a lot within the crypto ecosystem around the market is that the market will be bullish for like two or three weeks like we've seen in the past two or three weeks it will be basically up only i mean if i look at the chart right now uh 8th bottomed at around march 14th at 2 500 bucks we went to 36 almost 3 600 on uh april 4th which in you know basically three weeks we went up only with basically no i mean a little bit of uh down movement on on a day or so here and now we've come down from 3600 to 32

30 and people are like oh my god like what's happening are we bearish again is it a bear market it's like what like i i don't understand like oh i know a lot of people are posting but there are a lot of people who are being serious when they say this and i'm like guys like what are you talking about we just went up from 2 500 to 3 600 in three weeks right um and that's eth moving up that's not just some random coin moving up by by a decent amount that's eighth which requires billions of dollars to move up you don't think that people are going to take profits you don't think that traders especially the ones that are leveraged are going to close out their positions just to play it safe of course they are so again i mean this is an investment advice this is just me

kind of like trying to bestow a lot of the experience i've had in these markets like looking at this sort of day-to-day stuff is so pointless that's why i don't talk about day-to-day crypto stuff i know there are other channels out there that do and some of them are actually pretty good like i mentioned benjamin colin before he talks about the markets every single day but the thing with ben is that he actually takes the macro view even though he's talking about the day-to-day movements he's always talking about the macro view which is the longer term view and that's kind of like what i talk about too like i always talk in years and and sometimes decades i'm not looking at the day-to-day stuff like who cares about the day-to-day stuff like really at the end of the day if you cared about the day-to-day stuff in 2019

where it was like one to two hundred dollars and you were like oh eighth went up oh it's going back down oh we thought that and you did you weren't buying you were just waiting to buy what was the point right like you could have bought any i mean eth i think went from one to 360 in 2019 uh between it was between that that range for the whole year obviously uh you know pretty volatile and things like that as crypto is but if you had bought any point in that and just kind of like waited it out you'd be fine now right you'd be up a ton you'd be up like almost 10 times still if you bought the top right and then he didn't stay at 360 for long so when you kind of like think about it like that uh i just don't understand why

people look at these day-to-day moves and especially if they're not traders and they're supposedly long-term investors and they kind of like start panicking they're like oh my god we're going down it's like it's going to go up only forever like people are going to take profits like of course like and then the irony is a lot of these people who are complaining are eventually going to take profits themselves so like they they want there to be liquidity there for them to take profits and then they don't care what happens after that uh probably but yeah just just a little bit of commentary around that i know it's not really you guys doing it i know a lot of you guys are pretty um pretty uh clued in and definitely uh take the longer a longer term investor approach here but i just see this on twitter all the time

and and i just caution against getting caught up in that because it doesn't really make any sense to get caught up in that it doesn't make any sense to look at the day-to-day stuff unless you're a trader if you're a long-term investor looking at day-to-day stuff is literally pointless for you so so yeah anyway i'm going to leave it at that for today uh there so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give the video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone