BlackRock spot ETH ETF, Coinbase Verifications - The Daily Gwei Refuel #688 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the Ruel where C the latest news etherum e system I'm your host D and tday 10th of November 2023 all right everyone let's get into it so first of all I want to say good day to all my little ultrasound money Maxis out there because today is a very very nice day or I guess yesterday today whatever day the last 24 hours has been very very nice for everyone amongst us who holds eth which I'm assuming is 100% of the audience I would find it very odd if you listen to the refuel and did own any eth uh but the reason to be excited of course is the obvious reason that black rock filed for an eth spot ETF now we all knew this was coming I mean I said this months ago that this was going to

happen at some point but I think the timing of it happened a lot faster than I otherwise thought so uh initially the news Dr was dropped by this account called Summers things on Twitter where she highlighted that the I shares which is black Rock's um which is which is associated with Black Rock ethereum Trust has has just been registered in Delaware then Eric Banus one of the senior ATF analysts at Bloomberg said that this is the first uh this is a a first step towards filing for a spot e ETF and then James cat hi who I've talked about a bunch on the refi before of course uh confirmed that the Black Rock ETF has been filed the spot ETF here now obviously this is amazing for a number of different reasons that I I

probably don't have to repeat but I will anyway first off it's amazing I think at least for me the main reason is not so much that eth is getting an ETF but it's giving eth the most regulatory Clarity it's ever had I think and I think that when the eth Futures were approved I said the same thing right where I basically said that the eth Futures getting futures um products getting approved means that the SEC is pretty much given up in their pursuit of eth they're not going to go after eth and I also highlighted How Gary gendler's language changed and the sec's language changed around crypto where they went from everything except Bitcoin is a security to saying the vast majority of crypto assets are securities which means that you know they haven't explicitly

said it but um you know I I I very much think that they're not going to be pursuing eth at all um and I thought that when they approved the Futures now of course the spot ETFs are not approved yet Black Rock isn't the only one who's filed for one by the way vanck Arc hash Invesco and grayscale have also filed for one but we all know that really black Rock's the only one that that kind of matters I think and and that's the signal basically Black Rock would not have filed for this if they didn't think that they'd be able to get it approved now in terms of timing here look the BTC Ones Still unapproved right and as I said yesterday they could get approved within the next couple of weeks and if they do I mean we could probably see a spot e ETF Q2 next year maybe as early

as that maybe even q1 like that's how crazy this is that this happened so uh so quickly here but we'll have to see there but I mean I think it's a pretty high chance that these things are just going to get approved which is great because it means puts eth on equal footing as BTC in the spot ETF front um and I think that eth and BTC are going to be the only two with spot ETF for quite a while to be honest um I think probably for this cycle at the very least there'll be the only two there I'm sure there'll be other applications for other assets but I'm not sure Black Rock will be applying for any of the other assets we'll have to see how that shakes out but I guess it regardless it doesn't really matter because I think that the

more that get ETFs the less of an effect it's going to have overall but when it comes to eth there's the added like an eth ETF there's also the added effect of the fact that an eth ETF can be St can be a staked ETF and can offer a real yield and that's what I put a tweet out today uh where I said all the trafi people are going to absolutely salivate over the real yield that a staked spot eth ETF can offer and you don't own enough eth and the funny thing about this is that I remember I said like a few months ago enjoy the low gas prices while they last because as soon as the you know I guess like bull market kicks back in or or activity starts picking up again the gas prices are going right back up and they have I mean we saw when

this announcement was made obviously the price of eth spiked and everything went crazy gas prices went I think as high as 200 gay or something like that um so yeah I mean an L1 gas prices as I've basically said to you guys for a long time now are not going to be going down like l2s are where we're scaling L1 is just going to be super expensive but the thing is is that the validators on eth L1 get the uh I guess like um tips and they also get the me now because of that the yield of staking eth is going to go up like and and if we go to the rider.

Network website we can actually see what the yield is over different periods of time uh as I've shown before but I'll show it again here so you know I I've said that it's over 4% now uh and that's going to keep creeping up as as you know if the gas fees stay high we could be seeing 5 6 7% again um with uh with staking yields here now obviously by the time the TF gets approved it may be a lot less than that and there may be a lot of e Stak which obviously dilutes everyone else because the more e Stak the less there is for everyone else but just generally I think that a Stak spot e ETF is just going to attract so much inflows because people love passive income people love things that pay them like dividends right uh and you're basically going to be getting that from

a stake e ETF and I think that the rules uh to to to allow this to happen in the trafi space have to be changed but I don't think it's a big change there and I think there are ways around that if they want if they wanted to offer this but obviously it'll probably just go live first as a spot e ETF a normal one instead of a staked one but that is coming you know that's coming I mean imagine selling that product to your customers especially your older customers who are in wealth preservation mode and they want to um grow their wealth but in a you know a very kind of like um Safe Way and imagine them getting shielded essentially by these issuers on a Stak e ETF product right basically saying hey you can earn a yield on this thing you know it's part

of this crypto thing like I I I I'm I'm just kind of like uh thinking about just the amount of marketing that's going to be going on with these with these products and how much fresh money is going to come in because as I've described before the most exciting thing about the ETF products is that they bring in actual real fresh money that hasn't touched crypto before like a lot of this money will have never touched crypto before that's the bull case for the ETFs and that's what I think a lot of people Miss is that that there there's a lot of money that has come into crypto and then going out of crypto during the Cycles right but in terms of uh fresh money that has never touched crypto a lot of it in the ETF space a lot of it from the older Generations um

hasn't not has not touched crypto yet so this is fresh new money coming in which is obviously overall good for the prices of assets especially the assets that are offered here with the ETFs um but I also want to note that obviously The Narrative of the ETFs is very strong right now and the narrative basically makes the markets forward looking which means that the prices can Skyrocket and go up before these things are even approved that's what's happened with BTC that's what's happening with eth you know I wouldn't be surprised to see eth go to 3K you know 4K new all-time highs before even before the um the ETFs were approved right just on that hype alone but also the fact that I think it's pretty safe to say at this point we're we're we're basically in a crypto bull market now like the very early stages of

course but BTC is above its crab range or its kind of um long uh bare crab market range e is about to break out of that I actually looked at the chart just before eth is about to break out of a 540 day range right since the um May 2022 so it's basically almost back to there but obviously on the upside instead of the downside so yeah I think it's safe to say that a new bull market has officially started which is super exciting right I mean it's super exciting because one it basically signifies that the Cycles are still kind of playing out right it's probably an earlier cycle though like it the thing is I think I mentioned this yesterday where basically said the cycle seems to have been brought forward by at least 3 months um potentially even 6 months so it's good to keep that in mind but

generally um I think that the uh you know we still got a while to go of this bull market obviously BTC and eth are relatively close to all-time Highs at this point I mean BTC only has to double from here to get to alltime high but I did mention yesterday that's going to be a journey because of the fact that btc's market cap is huge at $700 billion so for it to double you don't need $700 billion worth of inflows but you need much more inflows into BTC then you would into eth then you would into all the other assets for us to get there but it's going to happen there's going to be you know a lot of volatility along the way but I mean I I I do think it's definitely going to happen and the second thing also is that like if you

think back on the last it's almost 18 months I guess since eth bottom in June of 2022 if you think back over that entire period and all of the stuff that's happened and all the comments that have been made around you know the global economy is about to collapse inflation super high High recession's coming you know don't buy assets cuz everything's going to zero some people calling for eth going to $400 which was ridiculous people calling for BTC to go to 12K right people saying this is a scam pump you know we're going straight back down people saying the ETFs are going to get denied uh you know just all of that all the bearish talk we have literally not gone back to the price that eth was in June 2022 so almost 18 months now eth bottomed right and then BTC bottomed in in November of so s a

year ago now right so you can take all that rhetoric and basically throw it in the bin it was completely useless if you listen to that you're out of position now and as I've said before if you're out of position you're chasing the market up now and that's actually what fuels a lot of this recovery ironically enough but imagine if you bought into all of that and you basically said okay well I'm going to wait I'm not going to buy right imagine you were sitting there and you saw BTC at 26k and you're like you know what it's sat here for a while uh I'm just going to wait I'm going to wait till it goes back to 20K and now BTC is at 36k like like you look at that and you fomo because you're like oh my God is it actually going to go down like am I

going to get an opportunity to buy and this is what fuels the F and this is what creates kind of like the self-fulfilling prophecy where these people are now waiting for it to go down before they buy but then it's going to go down a bit and then they're going to be like oh I better buy now because if I wait too long it's going to go up without me and then ironically and it's a self-fulfilling prophecy right so that applies to every asset but just generally yeah I mean I I I've just I have never been this bullish to be honest uh on on on on things um just because of the fact that as I've said like the ETF stuff is a huge deal it brings in fresh new money it integrates these products into the trafi world it brings more people into the ecosystem

and honestly I mean I still don't think we're obviously anywhere near ready to on board a lot of people on chain um but the l2s are obviously there now uh and I and I kind of find it funny that people are still complaining about L1 gas fees it's like okay don't use L1 use L2 for starters because the we like the ethereum ecosystem has never promised that L1 gas fees are going to go down so I don't know why people are still complaining about it it's it's it's just it really is insane to me because it's like if you're if you're told something right and you're told it repeatedly over and over and over again and then you're still complaining about it to me you're either stupid or you have an alternative alterior motive and the alterior motive is usually pumping your own favorite

chain that has cheaper fees or whatever else you want to call it there right and honestly if you hate ethereum because it because it has high fees at layer one then just don't use it right and then just don't talk about it go use your favorite thing because at the end of the day as I've been saying for years now and as the entire ethereum ecosystem has been saying for years now L2 is where we scale is L2 as cheap as it can be no it's not but it's improving all the time we have 4844 going live early next year which is going to improve it even more you know ideally we would have liked 4844 to be live this month right originally I said that it could go live in November would have liked for that to happen but L2 the the L2 Fe is still

significantly cheaper than the L1 fee so you can go use that right or you can go use another la1 blockchain if you want to but and this is where it kind of becomes even funnier for me when you look at the other chains there's not much to do there there's not much money there so if you're in this to Deen and speculate and you you're you're trying to do something to make money well the thing is is that if you want to do that all the money is into the ethereum ecosystem so you have to do that on ethereum you're forced to into into doing that on ethereum and if you want that to happen on your favorite chain well make it happen you know you you you have to kind of will that into existence it's it's not just going to happen on its own so yeah taking that holistically

I just I can't believe people are still complaining about L1 gas Fe I mean I knew they would to be honest I'm not naive right I knew people would but it's just insane to me that you can complain about something that you've been told repeatedly for many years now that uh is not going to go down like the fees are not going to go down on layer one um and on top of that as well it it a lot of these people tend to ignore layer twos altogether you know they'll complain about L1 but but they won't say anything about l2s and then as soon as you say to them why aren't you using an L2 they'll be like oh there's not enough liquidity there for me it's like what do you mean there's not enough liquidity there for you like unless you're a whale there is

plenty of liquidity on the l2s like I I you can go look at that right now there's there's heaps of liquidity on the l2s I mean I just looked at it before Arbitron one alone did a billion dollars of volume on their on on their dexas over the last 24 hours right and if you are a whale well then you aren't caring about layer one fees like this is what annoys me about people's rhetoric if you are a whale if you have millions of dollars then you are not going to be complaining about eth L1 gas fees and if you are it means you're just being uh an idiot about it because like $100 even if you're paying $100 in fees to do whatever you want to do on L1 or $1,000 that is a minuscule amount compared to the money that you have and then if

you're uh if you're fee sensitive you're on l2s they have plenty of liquidity for you because you're not a whale right you don't you're not going to be moving any prices around with your size and that's just the way things are and you know some people will say uh and have the belief that oh well you know everyone should be able to use the same layer you know whales or or otherwise it's like okay if you believe that go use a chain that offers that that's totally fine but the thing is is that the whales aren't using that chain right the the people who have the money and provide the liquidity aren't using that chain so there's not much opportunity there that's why you typically see that the richest places in the world offer the most opportunities right offer the uh offer a lot of the the the most um

benefits because that's where the money's concentrated and I'm not saying that if you if you don't have money you shouldn't be able to use the chain but you're not going to be able to use L1 ethereum because L1 ethereum is not being scaled for end users it's not even being scaled for Wales just that Wales can afford to pay these fees of course L1 ethereum is being scaled for L2 I'm preaching to the choir here but I feel like it's worth reiterating this point so anytime people complain about it it just annoys me anyway I'm ranting now um about that but yeah I just I just it was just an annoying thing to see today but regardless of that guys spot black Rock doing the uh the um filing for a spot eth ETF basically guarantees that it's going to happen as I said eth is not

going to be pursued as a security at all I mean I didn't think it ever would but this basically puts that to bed and it puts eth on equal footing with BTC now in terms of uh the ETF kind of footing there which is really really exciting to see but I mean I guess maybe I'll revisit this video in 12 18 months when we're back in another bare market and kind of reminisce on the good old times of the start of the bull market right uh maybe maybe it plays out longer than that I don't know it's every cycle is different right it may play out similarly but it can be very different but I'm just glad that we're back here I know a lot of you have uh a lot of you it's your first cycle right you've been putting up with the bare Market the crab

market it can feel like it goes on forever but the light is there at the end of the tunnel as I said where ether is about to break out of its long ass range that I've talked about you know the 1 to 2K range BTC already broke out of it it could Meander and stick around there for a little while like a few months or whatever but yeah I mean I would I'm I feel pretty comfortable today in saying that I feel like that not today but like the last few weeks I guess has been the official start of of the ball market and yeah we can strap ourselves in to see where things go from here but anyway spent half today's episode on that moving on to a bunch of other things there's actually so many things that got announced over the last 24 hours so the first thing is just a

quick recap here from Tim boo of the latest allore devs call not too many things here that are major announcements but you can go give thread R all Link in the YouTube description below but they basically covered the first girly Shadow fork and discussed how they're going to be doing more Shadow Forks around that and then they briefly discussed main net Shadow Forks there are a few technical things uh that they discussed as well I mean as I said not many major upgrades here but I just figured it was worth highlighting this um thread uh you can go check this out I'll link it in the YouTube description below all right an interesting tweet that I came across from eth profit today was just highlighting this website actually that I've highlighted on the refill before called money movers uh doino I think it is yeah money-

movers.in so on this website it will show you how much value is being settled on ethereum and Bitcoin every day now uh you can see here that when e profit uh T took the screenshot there was $24.5 billion of value being SED on ethereum and $3.3 billion on Bitcoin now if you go to the actual site you can see what's included so in the ethereum uh calculation it actually includes not just eth but stable coins as well uh with whereas with BTC it really just includes BTC but you can actually remove um uh the stable coins from it so I think if you actually select the stable coins you can uh you can uh basically remove them from the calculation and you can see that ethereum just processing

eth and wrapped eth transfers is still doing more than uh 2x what Bitcoin is doing here so just really speaks to the fact that ethereum is that settlement layer guys it is that settlement layer for the world we are processing trillions a year in um in settlement value on the network it we're not ethereum is not a small Network right and this is in the face and this is on layer one this is not on Layer Two right this doesn't have incl include Layer Two this is in the face of all those fees and I think you know the fees are high but we're still processing all of this value that's being settled here so obviously someone is paying the fees and then you can show some other chains here I mean the site's a bit dated you can see it includes like Bitcoin cash and

ripple which is I guess kind of funny but um I hope this site maybe gets updated at some point to include layers TW cuz I'm sure it would obviously increase ethereum's um settlement uh value here a lot higher than what it is but yeah I just figured it was worth highlighting thanks to eth profit for sharing this screenshot on Twitter today all right big announcement out of Obel today so obal's main net open Beta will be officially live on December 1st so the details are here in this blog post but they say here this will give everyone the opportunity to run distributed validator technology and participate in Squad staking on ethereum main net so yeah not too far away now I mean this is around 3 weeks away before the main net open Beta starts after years of development actually I remember

funding or sorry participating in the obal seed round long ago now it's actually been quite a while and they've just been quietly building for for a while now as you guys know I'm also part of the one of the um the first uh mainnet DVT clusters as part of the alpha alpha program that they ran but yeah on December 1st this is going to be open to everyone in a main net uh beta capacity so you can start running your own distributed validator stack with obal you can start doing things like Squad staking you can also uh start um uh kind of um uh not just doing Squad staking but the not not you personally but like the protocols can start interacting with this like the liquid staking protocols can start integrating this um which I believe L has been uh looking at for for a little while now I

think rockol has been looking into it as well uh Diva to Diva is trying to be a a straight DVT uh kind of LST as well I don't know if they're using Obel Tech or if they're using their own I can't remember right now um but yeah kudos to Obel for getting to this Milestone looking forward to their launch in 3 weeks but you can go check out their blog post for full details on this I'll link it in the YouTube description below for you to do so right a massive announcement out of coinbase today which is a little bit controversial but I want to give my kind of take on this so they've introduced something called coinbase verification so users can now attest to account and Country credentials on chain all verified on coinbase now like for their 100 million users now this is actually

using the ethereum attestation service in the background so they're using a free public open uh Source public goods service in the background which is really cool great to see a big company like coinbase uh using that technology there but if you actually go to the um the the kind of website here it explains exactly what this is so essentially what you do is you connect your wallet you uh while you're logged into your coinbase account you click on get verified um and then you will sign a free transaction so you're just signing a trans a transaction here to verify your wallet on chain and then you unlock a host of benefits now some of these benefits include not yet it's coming soon but this one is that you'll get free transactions on Bas and special access

to apps so free transactions on base so all you have to do is sign up for coinbase kyc obviously and then they'll give you free transactions on base now remember I discussed that I thought that coinbase was going to do this with base just offer free transactions especially for usdc transfers but then I did discuss with you guys how um where I said how would they do this in a Cil resistant way well they' found how to do it they have already kyc their users right because if you're using the coinbase centralized exchange you're already kyc so all you have to do is uh tie one of your addresses to your coinbase account um uh and then coinbase knows that you're not trying to cball the system and they can offer you free transactions on the Bas Network this is such an elegant solution and it may it's

made even better by the fact that it's using the ethereum attestation servic in the background and not just some proprietary service that coinbase has has has kind of made for themselves here so I just love it and it's also privacy preserving you can see here that the personal info is never shared with without your consent it's it's just kept uh by coinbase and it only shows that you have a verified coinbase trading account here now of course there are other concerns here about if your address is actually tied to coinbase that means that it's very easy for projects to say exclude you from Air jobs because it knows that you're a coinbase user and that you're most likely in the US so then they can they can exclude your address from an airdrop I think the way around that would be to have like just separate addresses if

that is a of a concern to you where you basically have an address that that you use just for this and then you have an address that another address that you would use for airdrop farming or something like that or ones that you want to get air drops on I know that that's kind of frustrating but I don't think it's it's it's an issue of coinbase I think it's a an issue of uh the US and the regulatory regime there so I don't think I'd blame coinbase here for this but yeah I Hon I do get the kind of concerns here around tying your address to to to to coinbase essentially and but as I said the way around that is just to use a fresh address you still get the benefits while also not uh kind of giving up on the other things that

you may want to do on chain here but another benefit here of being able to to tie your address to a coinbase account is that essentially a lot of the smaller projects who can't afford to do kind of um KY not kyc but I can't afford to do things that The Regulators want them to do such as essentially screen their counterparties and monitor all their counterparties and monitor all their users for their onchain products now they can basically say well I know who this user is because it's a it's a verified coinbase account right so it's basically it's it's a way to export kyc on chain essentially now I I don't think kyc onchain is a good thing and I don't think that apps that ever do kyc to use onchain products is ever going to work I mean I I don't think an app that

basically says well you can't use our app unless you have a coinbase verified address I don't think that's actually going to work I think that that app would very quickly get forked and that restriction would get removed and then the fork would probably win but for the limited stuff that it is good for such as unlocking these experiences that coinbase can offer such as free transactions on base I think that that's what you should be using it for everything else yeah there are concerns here and there I think I definitely think so um but generally as I said those concerns for me uh at least Point more to the US regulatory regime more so than coinbase because coinbase is not putting in these um he's not putting in these uh restrictions themselves and they would I mean coinbase would love for these restrictions not to exist at

all and they're fighting on our behalf actually in the US to get a lot of these things to get clarity on a lot lot of these things but you have to kind of have a middle ground here where coinbase wants to offer people free transactions on the base network uh especially for things like payments and especially to grow usdc of course but to do that in a in a in a Cil resistant way they can't just do it based on a on a peress basis on on an address that's Anonymous basis what they need to do is have some way to know that the address is a real human and this is a very elegant way to do that in my opinion there but I'd love to get your thoughts on this guys as I said there are reasons to be excited there are reasons to be cautious but let me

know your thoughts in the delu Discord Channel or in the YouTube comments there uh I'd love to I'd love to hear about them uh there so I spoke yesterday about the Rocka pool road map for the next 12 to 18 months and how they published a blog post here if you hadn't haven't read that blog post yet Jasper has come in hot with a thread about it so there's 19 part Tweed thread here which is shorter than the blog post and highlights the most bullish and most exciting things happening in the Rocka pool road map over the next 12 to 18 months so yeah as I said if you haven't read this yet then uh you can go give read the blog post yet you can go give Jasper's thread a read it'll give you a quick rundown of everything that's happening there so I'll link this thread in the YouTube

description below for you to check out all right the igen layer community contest for the next lsts has ended so uh I think it's no surprise which ones won the voting uh kind of here so there's six that one so you've got Stak wise you've got swell origin STA binance and anchor which are pretty much all the biggest lsts right now really really great to see uh especially swell and stake wise get included here because they're the definitely the bigger ones right now but yeah they will go I don't know if they're going live yet I think they'll be live soon because obviously Igan layer still has a cap on the tvl that they're taking in right now but once that cap gets lifted I wonder if they lift that cap only for the new LST

so they basically um don't let anyone else deposit St CB or re e and only deposit these new lsts maybe for a period of time and then other people can Dev can deposit whatever else they want there but yeah Kudos and congrats to all the teams for getting their LST supported by Igan layer here all right a big announcement out of polygon today so the polygon Village is now back better than ever so this is a grants program of more than 110 million in madic which is about 9 million at current prices um for deep mentoring and ecosystem support and villag is aiming to be the home for web 3 founder so basically it's a an incubator I guess for people building uh within the

polygon ecosystem here and there are three main components to polygon village Village Grants Village build ideas and Village startup support so basically I guess you could say this is the Y combinator for the polygon ecosystem here where there are Grant grants up for grabs and then there are build ideas and also startup support for you and of course polygon has all the technology to make this a real reality as well with things like the polygon chain development kit or cdk along with a bunch of other tools and and and things for you to play around with there so if you want the full details on this you can check it out I'll link it in the YouTube description below but that is a huge Grant Program guys like 90 million us doar is absolutely massive obviously paid out in madic here but great to see uh madic or polygon

continue to reinvest their into their ecosystem because as you guys know I'm extremely bullish on polygon not just because I'm an advisor to them I'm an adviser to them because I bullish on them but I think that they are going to be one of the leading layer 2 ecosystems for many years to come so you can go check this out we'll link it in the YouTube description below for you to do so all right speaking of layer 2 News immutable announced a strategic Innovation uh lab that in partnership with Ubisoft so for those of you who don't know Ubisoft is one of the biggest gaming Publishers in the world and now they've teamed up with immutable to build blockchain games essentially or to build web 3 related gaming experiences here now for those of you who don't know uh immutable X is actually buil oh sorry

immutable has their zkm which is actually built using polygon technology and they also have a mutable X which is built using Star Quest technology so they have multiple L2 Solutions here um and it's a huge vote of confidence that Ubisoft has decided to partner with them because they see them as the leading uh Developers or the leading ecosystem in the gaming kind of space in the web three gaming space within crypto here so if you want to read more about this partnership and about this Innovation lab you can I'll link this YouTube I'll link this blog post in the YouTube description below uh for you to do so all right last up here just a quick announcement out of cow swap so cow swap has launched an entire new class of orders so they call them programmatic orders so what programmatic orders do is

they execute automatically in perpet according to the conditional parameters you set so uh you can basically dive into how this works on uh in this threade which I'll link uh in the YouTube description below but developers can use this to create any kind of auto type that they want and I think this is similar to what unisoft is doing with their kind of hooks thing in unisoft V4 but essentially what this allows you to do is do like an if this then that for uh orders essentially so you can do like stop losses automated DCA all those kind kind of things you that that you can um do on kind of centralized exchanges and stuff like that but do it on cow Swap and also I mean the sky is the limit here really because you can basically

program these orders in any way that you want with any amount of arbitrary logic that you want as long as obviously you follow the rules of C swap PR and then the users can take advantage of that there which is pretty exciting to me I think but yeah you can go check out this thread of this announcement I'll link it in the YouTube description below but I am out of time here today but just wanted to end this episode with a couple of minutes just going back to the spot e ETF stuff guys like what I forgot to say before and what I want to say now is basically that we we made it you know we made it to this point where essentially I guess like this is more of a long taking a longer term look here but we made it to the point where eth is

now accepted or is going to be accepted into the wider trfi world as an asset and then ethereum as a network will continue to be in integrated into that world I have been talking about this with you know as far back as 2018 with Eric Connor on the Into The Ether podcast and it's been what 5 years since then and we're finally seeing it come to fruition we're finally seeing it play out in a very real way for me it's extremely humbling to see that a lot of the things that I've talked about have come true I really really just love that I haven't you know wasted The Last 5 Years um talking about all these stuff for it to eventuate into nothing you know I took a big big personal risk getting into ethereum um and getting into it as much as I did you know I put

my entire life into ethereum from the early days I put all of my money into eth all of my spare money into eth into the early days and I stuck through you know thick and thin as I'm sure a lot of you have over time and the fact that we're here is just an amazing Testament to the ethereum community to the ethereum ecosystem uh and to everything in between there so just wanted to say that I just wanted to finish today's episode with that I'm extremely bullish I'm probably going to go buy some more eth after I finish editing this episode today but yeah 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 next week thanks everyone