Censorship resistance chat, Armada Network revealed - The Daily Gwei Refuel #475 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily gray refuel where he kept the latest news in ethereum ecosystem I'm your host Anthony and says the 26th of October 2022. all right everyone let's get into it so I know at this point you're all probably sick of me talking about censorship resistance on ethereum but there are some rather I guess like new things that I wanted to talk about and knew in the sense of it's a kind of thing that I've been looking at over the last 24 48 Hours doing the math on and I wanted to I guess share my findings so to speak with you guys so let's start with the mevwatch.info website that we're all used to by now uh I've shared in the Discord Channel I've highlighted it on the refuel before as you can see over the last day uh we're

now up to 63 percent of uh of all blocks on ethereum uh that are enforcing ofak quote-unquote compliance AKA it's the uh the um the relays Mev boost relays that are censoring right and if we untick the include all blocks uh a little um toggle here this will include just the Mev boost related blocks 92 percent of those relayed blocks are enforcing ofak compliance so these things are both up especially you know the 63 of all blocks that was only 50 a few days ago so it's obviously increasing yeah well okay why is this the case well it's because more and more validators are using uh Mev boost relays are they coming online and they are choosing to use a censored

relay and as I've pointed out before four out of the seven uh relays that are currently live are censoring flashbots as we all know Eden Network block native and blocks routes regulated um relay here which means only about the other three which account for only eight percent of of the relay market share are not censoring and I've actually noticed that uh flashbots isn't growing that much anymore it's hovering around 80 to 85 percent ish but Eden Network's growing now as well so it seems uh people are choosing to go with the sensored relays uh not just not just flashbots but also other ones like Eden Network which is is kind of sad to see like I mean there's no sugar coating it right it's definitely not not ideal um and then if we go to the

raider.network website which I've highlighted on the reefer before we can actually see uh which entities are using which consensus clients and also what their block space distribution looks like so I highlighted this the other day but this is where I started doing the math so after I highlighted it on the refill I started doing the math around this and especially because I saw this number increasing 63 right so the math that I've been doing is basically taking the block space distribution here and looking at the vanilla blocks right so you can see here Lido right now has 50 going through flashbots and about 20 going through other relays uh the ones that are going through uh the uncensored relays I think maybe block shroud is 10 here so there's 31 that are vanilla blocks which you can expect to probably

end up using relays eventually then you have coinbase which if this data is correct have just started testing out Mev boost relays they've got they're running blocks through both flashbots and blocks route right now but the vast majority 99.4 of their blocks are still vanilla blocks so you get what what I'm saying here now the math that I've done and I've got the math handy here so I don't have to do it live on stream it never really goes very well um I I was basically talking to some friends about this I'm like okay this is probably the only chance we're going to be able to get to see or get a nice picture of which validators are actually in it for quote unquote the mission right Arena above profit because the only reason why you would choose a

censoring relayer um above you know non-censoring one uh would be for profit motives as I discussed before I don't think the validators care uh to censor or don't or or not censor right uh in aggregate I believe that some would you know choose to censor some wouldn't but for the most part I don't believe most of them would would they're only doing it because they will they profit Maximus right they want to inch out as much uh as much apy as they can from their each stake and we shouldn't blame them for for that that's part of the design so how do we fix this well obviously all the solutions that I've discussed before but I'll touch on that in a little bit so the naive math that I did here was I basically took all these vanilla blocks from each of these entities I got the block space

distribution as a percentage so some naive Mafia Lido has 30 roughly 30 vanilla blocks it has roughly 30 Network penetration that means that 10 of their Network penetration uh right now isn't doing any relaying it's just using uh just vanilla blocks right so what if it all went to flashbots that's another 10 that instantly goes to flashbots right another 10 of the network that instantly goes to flashbots that's not good then you start looking at coinbase right I mean coinbase has 12 Network penetration with basically nothing no relays right now what if they just all went to flashbots well add another 10 on 12 on there and you can go down this list and look at the percentages and the math that I came to was basically if you go down this list and look at all the

vanilla blocks and just naively assume that they would all use flashbots you get to about 90-ish percent of the whole network using a censoring relay now that would say at most at very most at least in this point in time as the network stands today and remember when we don't have withdrawals yet either but as a network stands today you could say that 10 of validators actively care about not participating in censorship on the network that's at the very most I would say and I would say realistically it's probably lower than that right so how do you I guess like think of that and deal with that and deal with that reality well you deal with it with all the solutions that I've mentioned before you make it so that censorship on the network is incredibly hard to do you

make it so the incentive isn't there to censor you make it so that you eliminate things like Mev that encourage Accenture ship because without Mev Nolan would be using flashbots right and I'll be using relays in general and no one would be censoring because no one had censored previously prior to this because what a relay is it's basically a aggregator of blocks it basically is a it's extremely it's an extreme centralizing force within a network now uh in saying that a Mev boost relay is better than the alternative which is basically what uh ethereum was trending towards before flashbots came along and invented Mev boost which is basically block building centralizing absolutely completely with just one or two entities um now we have seven but we expect that

to increase over time but also we're coming up with Solutions like PBS to enshrine uh in trying this sorts of stuff so that we don't have to deal with uh decentralization concerns right so that's how we're doing doing dealing with it on the technical side of things and this is why I've said time and time again the social layer is not enough here because the social layout Works in very specific scenarios I've I've discussed the difference between transaction inclusions and exclusion uh censorship right and attestation censorship so the social layout would work to socially slash validators that are participating in attestation censorship but because that that goes against the uh the the rules of the network that's considered an attack on the network but when you get into the

murkiness of inclusion censorship like I mean yeah okay if you are incredibly uh sorry you're a maximalist of credible neutrality then you can consider an attack on the ethereum network but but this is very important the only reason why that's possible is because we've given the ability to stakers and miners before the merge to order and include or exclude whatever transactions they want in a block and because that ability exists we get what we have today so how do we fix it we remove that ability or we remove as much of that ability as possible with things that I've discussed before obviously PBS CR list shutterized Beacon chain all that sorts of stuff right uh basically making it so that this kind of stuff doesn't happen but as it currently stands I mean I don't ex I

don't know if it's going to go to 90 of all blocks enforcing OPAC compliance whatever right I don't know how high it's going to go I I do believe it'll level out eventually but as I said this is the New Concept I wanted to introduce to you guys this naive math that I've been doing but also explain to you that there's a lot of nuance here I mean the biggest the biggest um I think I think is is still the withdrawal is not being enabled because right now I mean if you staked with coinbase for example you staked with lighto or binance yeah you can exit via their LSD tokens right but uh one you would probably have to exit at a discount for most of them I don't think Lido but I think coinbase and binance's uh lsds are still at a discount and two it doesn't actually

withdraw it from the beacon chain so Lido still has 30 Network penetration even if all the stf got sold on the open mic everyone just exited their St position no on boarded obviously the stf price would collapse in that scenario but lighters Network penetration would not change at all because there is no eth being withdrawn from the beacon chain that means that if you want to protest lato or any other other entities engaging in censorship with your eth right as as a with your validator that you've given the ease to for them to spin up it doesn't do anything because they can still run that validator just the same because all they've done is uh all you've done is exit your position you haven't actually withdrawn anything I think that's incredibly important and I think that's something that a lot of

people that's lost on a lot of people still for some reason but yeah it's incredibly important the second thing uh that I think is very important as well is that a lot of solutions are being worked on it's not like we're looking at this and kicking the can down the road or sweeping it under the rug and thinking oh it's fine who cares you know as I've just as I've discussed before even though 63 of the network is um censoring tornado cash transactions right now well here I'll make excuses for that oh I challenge the tornado cash transactions it doesn't affect that many people don't know the cash is banned anyway in in the US effectively so who cares about that right this is me making the I guess a counter argument here I guess like making up excuses for censorship and then I could say well it

doesn't really matter because you can still get your transaction included you just have to wait a few extra blocks well I believe that that's a really cool feature of blockchains is that you can't be unilaterally uh censored I do think that's still a bit of an excuse where it's like okay yeah cool you can do that but still it's this is bad right this is not a good outcome we still need to fix this and we are like we I mean you guys know this I've highlighted it plenty of times and I've got a few things that I want to talk about and get through it after I finish this little Spiel here which I'm I'm ranting I know now but I think this is important um you guys know that it's being worked on right so I think I thought that was just worth highlighting don't be

surprised to see that number going up here that's you know I know it's at 63 right now don't be surprised to see it keep going up but at the same time the funny thing about this right is that because the block building is so centralized right now uh at least the Mev boost relay uh is so centralized within flashbots if flashbots was to turn their relay offline like tomorrow or today or whatever like if they'll do it right now um censorship on the network would drop to under five percent I think or something like that or around it would probably jump to around five percent of uh of uh all blocks uh or or less just because flashlights shut down so you can see how there's just this one centralized entity that is controlling a

lot of the block production which is not not the ideal outcome flashbulse doesn't want this to be the outcome here that's why they're working on things like Suave to decentralize out relayers that's why they open source Mev boost so other people would build relayers but I think still doesn't matter if the Mev boost is open source doesn't matter if they're decentralizing relayers I think that from what I've seen uh PBS is that long-term solution it's going to take longer to come than we would like of course um see our list help a lot as well with things uh shutterized Beacon chain maybe that eventually it's like there are other solutions that we can play around with but I think from uh from uh that example that I just used was just trying to show you that it's not validators that a censoring it is the block

Builders as I've discussed before if the if a flashback's supposed to shut down maybe the validators move to one of the other censoring relayers but my guess would that would actually distribute pretty healthily across all of these because the blocks route Max profit and blocks rate ethical they both got a pretty healthy share of the network 3.7 on the max profit and 3.5 on ethical that's a pretty healthy share of the non-flashbots relays so if you were to extrapolate that and say okay well what percentage of the flashbots relay would go to either Network versus blocks route it would basically be about equal so you would end up with like a 50 or maybe just over 50 uh censoring still because of uh just as an example because of either Network and then not and then 50 not censoring because of blockshare and

this is of the uh the relayed blocks not of the total blocks so uh yeah we need to fix this obviously now speaking of fixing it there have been some updates out so one here from flashbots themselves they've open sourced the sync proxy which is another piece of the flashbots infrastructure that they help is useful to others it allows execution layer clients to be driven by multiple Beacon nodes for redundancy so this is more on the infrastructure side of things but this I think is still important because you want uh people to be able to build their own stable relays besides flashbots you want blocks routes really to be stable you want I mean ideally you want all the sensor non-censoring relays to be as stable as possible so people trust them when people use them add to that Network effect and they can be more profit for

those non-censoring relays so we get that profit incentive because as I said like a lot of this is most of this is profit driven if we can redirect that profit incentives to uh to the non-censoring relays then that's much better obviously for the network so cool to see that uh and another thing on Mev a test that has a block a blog post out today um that's titled exploring the impact of Mev relays highly recommend reading this blog post it does a really great job of explaining basically everything that I've gone over in the refuel but in like very clear plain English and a nice blog post you can refer back to and don't have to listen to my rambling um so definitely go check that one out um and up and a nice little thread and blog post here from oval Labs today talking about what DVT is and how it

actually improves proof of stake ethereum and how it helps proof of mistake ethereum become more decentralized and become more resilient and all that good stuff there so I'll link this thread in the blog post in the YouTube description below for you to check out but that those resources are really really great to check out learn more about this sorts of stuff but yeah I know I at this point in time uh you know I'm going to be on some other things in a sec but at this point in time I know that the censorship staff I've talked about it a lot but until it actually gets fixed or until it starts improving I'm going to keep talking about it because even though I believe that it's not going to get fixed at the social layer I think that the social influences the technical one if Norm was

screaming for solutions to this censorship then not much would be getting done I think that it still be Solutions coming but there wouldn't be a sense of urgency behind it it's kind of like how I think about scaling I've been saying this on the refill for ages I basically started the refuel before the gas prices were high there was not a consistently High there was no real push to scale on ethereum right like we did have some teams here and there doing it but there wasn't Demand right there wasn't that business case there then we had consistently High fees and all of a sudden we've got all these l2s all their scalability Solutions we've got all these um things that have come online and and they've persisted even through the low gas environment that we're in today because people are well and truly aware of the fact that this low gas

environment is not going to last and also ethereum's roadmap has basically been cemented as a roll-up Centric roadmap so because of that and because of all the screaming from people in the social layer and things like that to get these scalability Solutions done um it happened I think the same is true for the censorship stuff but there is a bit of a difference there in that there's not a direct profit uh okay there's not a direct profit incentive there right it's not like you can spin up something uh and issue a token in order to fix Mev maybe flashbots issues a token but and that doesn't fix Mev doesn't fix censorship right um but there is a I guess you could call it a soft profit incentive in that if you care about the ethereum network and you want the ethereum node to work to

keep its credible neutrality to keep growing to keep being healthy to keep getting adoption um which would then translate into eth going up in value right that soft kind of profit motive well then you should care about censorship on the network being fixed or and being eliminated as much as possible so that's the I think difference between the the two the layer two kind of stuff and this stuff but it still comes back to the same point in that the social era is important for highlighting issues you know making noise about things getting uh getting it across to the technical people implementing these Technical Solutions about what's important and what should come first and what should be prioritized that's where the strength is but in terms of just yelling at fly spots and being like hey shut down your relayer because you're censoring you're

hurting the network uh I don't think that actually achieves anything short term yeah sure as I explained maybe you know a lot of the people that were using flashbots go to a non-censoring relayer but at the end of the day if we don't actually fix the core of the issue which is the fact that that relays can Sensei and can get a large part of the network then we're not really doing anything except uh you know putting a bandit on it if flashbots was to shut down their relay and I think flashbots understands that that's why they probably believe that shutting down their relay is not a solution it is not something they should be doing I don't believe they make any money from their relay either so it's not a profit motive I think they have a very strong belief that if they were to

shut down their relay the network would be in a worse position than it currently is now I know that might be weird to say but I think that's what they believe I don't know I haven't confirmed that I haven't spoken to any of the flashbots team but that's my kind of read on it there but anyway I'm going to leave that at that I'll link all these resources in the YouTube description below for you to check out moving on to some more positive news um the work continue news on Beacon chain withdrawal so Mario's from the guest team tweeted out today saying he updated the merge Dash fuzz to the withdrawal branch fuzzer has been running for 30 minutes without a crash great work by like clients the next round of testing is starting soon we'll publish some static test cases for execution layer clients to check the

implementation quickly in plain English is basically means they're testing Beacon chain withdrawals using fuzzing which is a a form of testing uh testing code making sure things work as expected so very cool to see that and you also have an update here from Alex Stokes who has a document that he published where he said tracking progress towards a validated withdrawals testnet here so we're getting close to a test net for validated withdrawals and as I said and they want to do it by the end of this year and as I said once the test Nets start rolling out uh then we can kind of look start looking into view of when this will actually hit mainnet I said late q1 early Q2 would be ideal but the goal is to have in that first half of next year uh but the earlier the better of course as I've said plenty of times

vegan Jam withdrawals right now uh the number one upgrade for ethereum it needs to happen ASAP it's the most important upgrade uh and I'm very much looking forward to it because I think there's going to be that great reshuffling that I've spoken about before and it's going to be very interesting to see where steak ends up once withdrawals are enabled all right so a new project that I came across today called Armada network uh and build themselves basically and in a Twitter thread here and I came across this because Kane from synthetics uh quote tweeted this and talked about it and I always uh trust Kane when it comes to these sorts of things he's been working in crypto for quite a while now basically what is a matter Network well it is uh they're calling themselves the only front-end hosting solution that is fully decentralized secure and fast and

easy to use so basically it is infrastructure for hosting decentralized front ends there's not that much information about them just yet you can read these thread for a bit of a breakdown of what they're doing but as I said the tldr is that they're trying to do decentralized front-end hosting obviously a huge issue within crypto most of the front ends or if not pretty much all of them are centralized which means that they're easily censored we've seen this happen on unisop's front end they have censored certain tokens right uh but as I've mentioned in the past you shouldn't expect sensitive resistance from centralized front ends but that is also one of those excuses I talk about right it's all well and good for me to say it and I believe it's the truth but it's still an excuse can't expect people to uh you know to to take that on board

and be like oh okay well I'll just have to go find some other way to to interact with this well what if all the sensory uh what if all the centralized front ends were censoring you where where would you go there's not really any good decentralized Alternatives right now well enter Armada Network they're trying to build a infrastructure that allows people to host their front ends or on this infrastructure so that it's decentralized and it's distributed among community-run nodes and control is um and control of the hosting has has been handed over to a dow so the Dow of a project could control the front end uh in a in a decentralized way which is obviously very very exciting but as I said not too much information just yet but there are a few projects working with them right now including synthetics and you can check out the list TR but

I'll link this uh thread in the YouTube description below for you to check out um but just really cool to see more competition here because there's obviously ipfs but ibfs is imperfect there's a bunch of other Solutions out there as well there's dap net which I've spoken out before which I think is going above what this is trying trying to do um which which is cool obviously uh but yeah great to see more solutions coming here all right so uh vitalik quote tweeted a thread from scroll here today so the third from scroll was really really great it basically starts off by saying polynomial commitment schemes are critical to ethereum scaling Solutions these schemes will be used in dank sharding as well as in the proof systems behind scroll what are polynomial commitment schemes and how will they help scale ethereum and there's a thread

in a blog post here which you can give a read to I'll link in the YouTube description below but polynomial commitments have got to do with kzg and I've talked about the kzg stuff before on kzg ceremony uh so you can check out this thread but vitalik's quote tweet is what picked my interest a lot here where he said I'm so happy that ethereum has such a strong culture of trying hard to make all our moon math as understandable and accessible to people as possible this speaks to me on a really deep level because my goal with the refuel with the daily way generally is to make this stuff on ethereum like all of it as accessible as possible to Everyday People now that means that because I like me I'm not a researcher I'm not super technical I rely on other people and other

um other Educators out there to dumb things down for me so to speak so that I can relay that information back to you guys as simply as possible and now I'm know you know I don't go as as kind of like Noob friendly as as possible because I just frankly I'd be repeating myself so much if I was doing that uh but threads like this that scroll puts together really helps me to to describe these things for you guys and and helps me learn as well of course like I'm I'm learning all the time just like you guys I'm not an expert far from it I think we're always learning until the day we die basically and if you stop learning I mean I think a person dies when they stop learning it's a kind of a philosophical philosophical belief of mine and no it's not just book learning

but it's also wisdom and things like that but I'm again I'm getting up on a tangent here but that as I said like metallics tweet here quote Tweety I spit spoke deeply to me because of the stuff that I do with the daily way but also because of my philosophical beliefs which I I very I hold very very strongly and that's why I'm an educator I mean it's a major reason why I'm an educator is because of that belief that if you stop learning uh that's when you actually die like I mean mentally uh physically obviously your body's still there but I think that I've seen a lot I've seen a fair few people in my life actually they stopped learning they stopped caring about things and they just seem like a shell of what they used to be and it's just like a waste of

potential I would say so yeah just great little quote tweet from vitalik but definitely go read the thread from scroll here I'll link it in the YouTube description and below alright so Squirtle here from uh Zappa so he works as a front-end Dev or he or she works as a front-end Dev at Zappa uh put together a thread saying how using Zappa is a newly revamped manage allowances page makes revoking erc20 allowances less daunting easily see any of your wall allowances in a simple UI and there's a thread here it's a short thread but basically if you're a Zappa user and if you aren't you can connect your wallet here and you'll have a nice little list a little table of all the contracts that you've interacted with all the smart contracts that you've interacted with and the ones that you

have given permissions to and this allows you to revoke the um the permissions from them and there's also a risk a score Factor here as well which I thought was was pretty cool so we all know that we all we give permission to a lot of smart contracts as time goes on and then we forget about them right we and then sometimes those smart contracts have bugs in them that allow the hacker to drain funds from uh addresses that have interacted with those contracts and given permission to so it's always good to do a I guess like clean up of these sorts of things so definitely if you haven't yet go check out Zappa's tool here connect your wallet connect your multiple wallets go through the list revoke the permissions from things you don't use anymore old protocols especially if you haven't done it since

D5 summer when I I mean I was given permission to so many things in D5 summer because there was new protocols popping up every day you guys know I was like a total day gym back then uh but I you know went back on on most of my addresses and ones that I I knew about uh that I remembered about and I revoked a lot of those permissions because it's just good hygiene at the end of the day good good I guess address hygiene at the end of the day all right so Arjun has an update out a small update where they said Argent X is now three times faster with this huge update they achieved uh this without compromising security and you can check it out for yourself and let us know and let them know what you think so for those of you don't know Argent X is

arjun's browser extension wallet for the Stark net ecosystem and as you can see in this video it's quite a lot faster at loading all the balances and and and basically a lot smoother so if you're a user of that just a quick shout out here that I should have updated for you uh automatically and you would have seen this but yeah really really cool to see that uh this is this update came out today all right so speaking of the update sismo has an update about their governance uh architecture here so they said we are kick-starting our open governance using the sismo contributor ZK badge to distribute voting power and there's an announcement blog post and a resources uh uh link here and as well as approval vote and also a thread to go with it so if you want to learn how

sismo is approaching their contrib contribution driven governance process well you should definitely go check out this thread and if you have one of those sismo contributor ZK badges then you can get involved directly with this but I'll link this in the YouTube description below for you to check out uh uh yeah because I think it's worth reading all this sort of stuff to get a good grasp of what's going on here and I want to leave a few extra minutes for the last thing I want to talk about which I'm going to end this episode bullish I started this episode I wouldn't say bearish but you know obviously not talking about the the most fun of things but we all know the last 24 48 Hours the prices of crypto are pumping right this happens from time to time we'll have a pump and who knows if it'll sustain

itself who knows if it's a new bull market I definitely don't it's a new bull market right now let's not get ahead of ourselves but basically we're all watching the ultrasound money website a lot right we're seeing how much ethi's burnt seeing how much it would have been issued on the proof of work and I talk about it from time to time on the refuel but I checked it again today and and I checked it because of the recent rally and and I wanted to contextualize this for people so I said it's been 41 days since the merch if ethereum was still on proof of work there would be up to 488 000 8th that miners would be able to dump into this pump instead net issuance is only 1300 eighth since merge uh since the merge and stakers can't sell any of that yet

and you're still bearish I asked with a question mark of course so what I mean by this is that during these kind of rallies and these pumps you expect there to be more cell pressure because people are taking profits or maybe miners are selling because they're like oh well I can get a better execution price now it's pumped up a lot you know eats up 15 today I'm going to take the advantage of this pump and sell into it that obviously adds to the cell pressure adds to uh and can potentially cause the price to retrace its entire pump in some cases right between the Traders selling and other people taking profits and all that sorts of stuff but now we've eliminated that completely and we've actually eliminated more than 488 000 each which a follow-up tweet here I said it's even more bullish than this because

the private work number above includes the burn without the burn included each going to miners would have been around 550 000 eth to date since the merch so essentially we have 550 000 eth which is not getting sold into any of these pumps anymore right from from miners from people that have to sell because they have cost to cover and also on top of that we don't have withdrawals yet so not even the stakers can sell and that 1300 eighth number also includes the burn on the staking side of things but um if I exclude the burn from that the issuance I think would be what 20 or 30 000 or something like that uh maybe it's a bit more than that but still obviously considerably lower than it would have been on the proof of work and again stakers can't sell right now anyway so

what kind of effect are that have on the market well you guys know I've been saying this for ages over the long term I think it has an absolutely enormous effect and I think it has effects into these uh rallies that we see and it's the main reason or or a big reason why I have been so bullish on each BTC so the eighth BTC ratio is because I I've discussed this before on the refill but basically I believe BTC has so many headwinds eth has so many Tailwinds and also BDC still has minor cell pressure whereas eth doesn't naturally over time that's going to play out and there are so many people that are bearish on each BTC right now because they're looking at previous Cycles on the charts and things like that the charts from previous Cycles aren't going to show you the

effect of this massive issue introduction this is what I hate about people who are chart maximalists right like there's a place for charts but when you're looking at data that existed in very very different market conditions and very different conditions for eth as an asset and ethereum as a network I'm talking about 2018 2019 versus today you can't even compare the two like it's a night and day difference between what ethereum was back then what it is today in 2018 I had to deal with the enormous cell pressure from not only miners but also all the icos that raised eat that were selling and all the speculators that came because of that in 2017 and we went down 94 because of that but if you look at 2018 and compare it to today especially if BTC which went down a lot

as well in 2018 and then also 2019 you look at all that and compared to today where's the similarity there there isn't any the speculators of course a similar the speculators are the only similarity across any Market cycle there's always going to be speculators right and there's always going to be invested long-term investors but the major difference between this bear market and the last one I mean there's many major differences but the one on the Ellen just the pure east side of things is this absolutely massive issue introduction here right and then you just look at all the fundamentals behind that ethereum's move to proof of stake ethereum ethereum's growing L2 ecosystem ethereum's uh uh you know very um resilient defy ecosystem compared to other ones nfts there's so much going on

that anyone who looks at a chart from back then on eighth and and tries to extrapolate that out and put and and say okay this is what's gonna happen to eight this is what's gonna happen hbtc in this current uh in this current time in his current market I don't think that makes any sense at all and there's been people that have been wrong about this uh a lot on a lot over the past uh I guess like 10 months during this bear Market that was super bearish on each BTC and he's BTS it went up and it's going up now right it is leading this bull market leading this pump will it sustain I don't know I guess obviously it's not Financial advice here but taking all of the fundamentals into account right you can see why this time I struggle to say this but this time is

different when it comes to either as an asset to 2018 in 2019 very very different right but anyway I'm going to end that bullish rant there I just thought it was important to hire those sorts of things as usual obviously not investment advice no idea if this pump is going to continue or not no idea when the bull Market's coming back but you guys know I'm always in it for the long term always stacking ease but on that mode that's going to be it for today so thank everyone for listening and watching be sure to sub to the channel if you haven't yet give it a thumbs up subscribe to the newsletter join the Disco Channel and I'll catch you all tomorrow thanks everyone