Coinbase client diversity, Ether.fi raises $27mil - The Daily Gwei Refuel #739 - Ethereum Updates

Transcript

hello everyone welcome to another episode of theway refuel work up latest news in etherum ecosystem I'm your host and and today the 29th of February 2024 right everyone let's get into it so the 29th of February it is a leap year it's longest February that we're going to have for another four years I have something cool to actually say about that in a sec but first off just wanted to say that you guys know I went to that Meetup in Melbourne tonight at upside here had a lot of fun was on a panel talking about farcaster and just consumer crypto generally you can see a picture here of me and my co-panelists and I'm the host of the panel on the right hand side there uh it was a lot of fun obviously got to speak to a lot of people about crypto the spirits were

high because of the fact that the markets are up and everything like that but I always have a good time at the upside uh Meetup so again kudos to Greg and Kyle who are the the host of the Meetup and and basically run upside they're always Champions they always run a good Meetup they provide the pizza they provide the drinks and everyone's kind of happy especially when the Market's going up as well but yeah looking forward to the next event there at upside but I'm charged guys today like I'm very charged obviously not just because of the Meetup but because of the markets as well and I'm going to spend a little bit of time talking about the markets because I think it's very relevant right now and I haven't spoken about them properly in a little while still but what I want to speak about is

a couple of things first ETF second why the fouryear cycle is actually totally dead now and third uh nice little thing got to do with the the the date February 29th but I'll I'll just tease that and I'll I'll tell you guys about that in a sec so first off we have an update here on the inflows into BTC ETFs uh James CIT here said we have a new record inflow for the Kentucky Derby Bitcoin ETFs ibit which is black Rock's um ETF took in a record $612 million on its own on a net basis the group took in 673 million this beats the day one record of 655 million uh and they're still waiting on btco here and ibit or uh black rocks ETF crossed $9 billion in assets on its

own so more than $10 billion is in these things after 7 weeks and I think this officially makes the BTC ETFs some of if not the greatest ETF launches in history which has blown all of everyone's expectations completely out of the water and has obviously reflected in the price I mean BTC is at around 63k at time of recording that is literally a like sneeze away from all-time high alltime high is around 69,000 I think I actually think the alltime high is 69,420 like literally a meme but hey that's the alltime high there and that could literally happen within like a week or within a week or two and I and it's actually kind of crazy to think about because that brings me to the next thing I wanted to talk about which was what

I've mentioned on the refie a lot of times actually is that I now believe and I'm pretty much like 100% believe this now that the 4-year crypto cycle is completely dead I know I said last time maybe a a couple months ago that uh that you know I was pretty much like on the on on the um of the opinion that it was dead but like I needed to see some more confirmation well I think the fact that we're so close to alltime high on BTC and eth obviously um you know has a ways to go still but not that much I mean eth alltime high is what 4850 or 4900 or something like that it's at 3600 almost I think what is it no no 3475 I'm getting ahead of myself but still you know not too far away not exactly a sneeze maybe two or three sneezers but

we all know E's G alltime high after BTC uh of course um but yeah because of that the fouryear cycle is well and truly dead in all of bitcoin's history it has never gone to an all-time high before it's harving um and all and it'll always take at least 6 months after the harving for Bitcoin to really get going guys the harving is in April and we are on the custom of alltime high in February like it's not even close I mean yeah okay it's two months or less than two months but still it's not like we're like a week out or anything like that we are just completely accelerated from where we should be if we were following the 4-year cycle so the 4year cycle in my mind is is dead and I actually think

that there's good arguments to be made that it died last cycle because we had a shorter cycle like you guys have um heard me say this before but last cycle I believed that the actual top was May 2021 not November 2021 and the reason I believed that was because if you look at pretty much every metric except price it topped in May 2021 and price went up again obviously in U through November 2021 and BTC in each set new all-time highs back then but that was live that was driven by a lot of Leverage and a lot of fraud like it was basically a fake pump honestly it was basically the people who believed in the super cycle kind of willing it into existence like suzu and three ARS capital and then obviously we had the whole Terror thing and S SPF and all of those people that

blew themselves up of course um but now we're on the cusp of BTC alltime high before the harving and if you do an equivalent kind of analysis here uh based on the fouryear cycle we're in February 2020 or February 2016 February 2016 BTC was nowhere near alltime high it was nowhere near it what what was it $1200 back then February 2020 it was nowhere near 20K like it had gone up a bit but it wasn't close to to hitting it and then obviously we had the co dump of course um but yeah I mean I just generally think that the 4year cycle uh is is dead now and whether this is a good or bad thing we'll have to see like I don't think it's I don't think it's actually like something that's good or bad so to speak

I think it's maybe like a reflection of the maturation of uh the crypto Market gener so I think that when you look at the crypto market and how what what money it's had access to traditionally it's been you know normal retail investors and then some of the kind of like you know VC money and bigger institutional players some some of them in limited fashion but it's never had access to the biggest pool of money which is the US uh kind of tradire Market the the market that has the ETFs in them the the old money as we say right that money has been locked away and hasn't really kind of speculated on crypto but now that it is now that it is here now that it's kind of uh coming I think that when you when you kind of look at this and when you kind of take it all together you

could kind of see that it makes sense for the fouryear cycle to no longer play out because the asset class has matured now me does me saying this mean that we're never going to have like another bare Market no no not at all like please do not start thinking that I I think I warned about this a while ago that during these environments where it's really bullish you start basically thinking that there isn't going to be another bare Market that it's going to be a super cycle that's going to be up only please don't think that guys yes we're probably going to go up you know still away away from here because it's just still the kind of start start not not start but like probably like moving into the mid of the bull market but it's not going to be up only it's not going

to go up forever the ETFs aren't some kind of like infinite money kind of machine uh the ETFs can obviously be sold as well it's not like they just going to be bought and locked yes it's a different kind of money than what we're traditionally used to but Market Cycles still exist regardless and it's still going to play out but then it also begs the question of okay well how long's the bare Market going to be how deep is the bare Market going to be uh for BTC and eth like everything I'm saying here really just applies to BTC and eth I think that for the other assets they're going to do the same thing they've always done because those assets are not really getting touched by any of this new money because they don't have ETFs right they're getting touched by people that made money on BTC and E rotating in

and also all the new retail people that are going to come in obviously but it's going to be a different pool of money so because of that I I suspect they will still act the same where they got up a lot in the bull market and then they just nuked 95 plus percent in a in a bare market right uh and I think that's just the nature of things especially when it comes to the super speculative stuff like meme coins so keep that in mind guys especially if you're going down the risk curve but when it comes to BTC and eth like the fouryear Cycle's dead it they're they're maturing as assets eth doesn't have an ETF yet but it will soon obviously um and they have a different pull of money that's going to be in and out of them at different times and they've got that kind of like

I guess constant flow with the ETFs so when I take all that and I look at all that uh I I I get excited but I also get a a little bit uh I don't know if I I don't know if I'd call it scared but like maybe frustrated because I said here on my tweet the game is forever changed now like my typical way of monitoring and and working the markets has been going Loosely off that fouryear cycle but now I don't think you can use that because if you were using the fouryear cycle like that would mean that we're going to top in like a few months or something maybe we do top in few month in a few months right but hey who knows maybe we we don't top till next year or something like we we don't know that's the problem now it's like it the

game has changed the rules have changed uh I mean the the underlying rules of there being Bull and Bear markets hasn't changed but the the the the timing has changed here the ability to to time base on the fouryear cycle has changed so for me personally I think that we're going to have like a really strong bull market because we've got this this money we've got like a lot of fero coming in but then after that I don't know I don't know where we go from there I don't think anyone can tell you where we go from there um I don't know how you know badly Ethan BTC are going to go down and and bottom like I don't know where they're going to bottom next time I don't know uh you know what's going to happen to the long taale of assets like not with

100% certainty I mean I'm pretty confident they're going to get destroyed like they always do because they they don't have access to that same pool of capital but again like I can't guarantee that so it's going to be harder I think going forward to play this game uh yes things are good now you can probably buy anything and make money right now if you sell at the right time of course but yeah I think things going forward are going to be harder uh to predict here uh and the game has has changed like we've had that game for since Bitcoin came around in 2009 till basically 2024 we had 15 years of it you know it was a good run but yeah it's it's definitely changed now but anyway enough on that just one last thing on the market before I move on uh I put out this tweet in

March oh no February 29th 2020 where I said the eth price on February 29th 2016 was $6 E's price on Feb 29th 2020 was $224 the next time Feb 29th comes around it'll be the year 2024 obviously today what will the price of eth be then and my target was Moon I didn't put a number Target on it I honestly had no idea and I have been waiting a long time to post this I posted it on Twitter of course but I've been waiting a very long time to post this I've been super excited to post it not because of the fact that it was it's great to see that eth is like almost 16 times higher than it was over those four that foure period from back then but if you look at the reply that I got from Eric you guys know Eric the guy

the guy that I do the drive-through with my my friend that I did EB with so Eric Connor um you can see here that his Target was $3,000 we're at 3500 guys like okay he didn't get it exactly but holy like like this is 4 years ago he called This and like I'm convinced there's a time travel at this point this is this is not the the first time he's done this I think I mentioned this on a refu that he has an uncanny ability to pick Market tops and bottoms and and and kind of prices at different at different places I don't know how he does it I'm actually curious to see if his ability uh you know Works going forward because the fouryear cycle has changed but I don't think he's ever actually looked at the four cycle for this but it's just crazy

how close he got there but yeah as I said I've been waiting a long ass time to post this it's been four years since I put the Tweet out I think I saw this again in 2021 I put a reminder on my phone and it came up today I kind of forgot about it and I'm like oh like it's been four years yes I can finally post this so yeah I'm just I don't know I'm very excited today guys very giddy today uh for a number of different reasons but yeah enough enough on the market stuff moving on to something else that I'm giddy about we got that update from coinbase regarding client diversity now of course we all knew that coinbase was going to give us an update by the end of February and if they didn't we were going to get a p

pitchforks out and we were going to march on the coinbase's officers and and and and force them to give an update but no we don't need to do that they have put out an update today that you can check out the full thread 4 I'll link it in the YouTube description below but really the the heart of the update is that over the next month uh coinbase plans to migrate roughly half of their validators to nethermind and longterm where they intend to evenly distribute between gu nethermind and Aragon which means basically roughly a 33% share between them this is massive guys like this is absolutely massive as I've said before coinbase has such a large market share of validators that them changing over to even just 50% um never mind or 50% non-ge is a really really big deal and nixo actually did the math on this

uh I've got the the yeah I've got it open here where she said that of known entities coinbase shift by the end of March to 50/50 get nethermind gets us below 66% however since not all entities have reported we could still potentially be at 70% if all non-reporting entities are 100% gu this is great progress but we have more to go so yeah if we go off the reporting entities and assume that no one else is is running 100% gu then we are going to be below that 66% threshold within the next month which is obviously awesome but even if all of those non-reporting entities are 100% get we're at 70% which isn't too much higher so 66% is obviously the critical threshold that we want to get below but even in in the worst case scenario we're only at se we're only at 70% which means

that it's obviously much easier to get down and Lido is working on this as well well I mean Li has made a lot of great progress here too uh and Kil Finance actually which is another large Staker on the network said that they 50% of of their validators or 50.1% of their validators are now running on nether M so they're not running 100% gu anymore so guys like this is absolutely amazing progress this is the social layer at work this was literally done because we put pressure on uh these kind of like entities to do this yes coinbase probably had this in the works for quite a while but I think when it came to timing you know a little bit of pressure is fine but it also started the trend you know bunch of other services out there have now done it and we are hopefully now or

when coinbase does this within the next month below that 66% threshold and we can basically stop worrying about this well stop worrying about it in the sense of this is critical let's do it now and more of okay we're just going into like monitoring mode now it's like okay let's make sure that it doesn't creep back up above 66% which it really shouldn't honestly if uh if all these not operators stay the way they are uh and then as coinbase said they're planning to actually go to 33% G which is going to be even better uh but yeah just wanted to give a huge shout out to everyone who worked on this within coinbase you guys are champions I really love that this is happening and the community thanks you for putting in uh you know the work here and listening to all of the communities I guess like uh I

don't know if I'd call it annoying uh kind of like berading on Twitter uh but it's just great to see that there's movement here and I guess like kudos to coinbase for sticking to their promise and you know they put this out on February 29th but hey they stuck to their promise of the end of Feb and they got an extra day right because obviously it's a leap year uh but yeah guys like I'm super excited about this but I'll link that tweet thread nixo tweet and K's tweet in the YouTube description below for you to check out all right so onto some 4844 news so the 4844 or EIP 4844 data challenge is now open you can dive into blob data write a blog post with your findings and win up to $330,000 in uh kind of prizes here so uh the full details of this will be in the

YouTube description below but if this seems like something that's up your alley if you're obsessed test with data and you wanted to wanted to unpack uh blobs and 4844 style blobs and and kind of activity and so on and so forth you can go into the running uh to to uh earn up to $30,000 in prizes here uh there is full details in the blog post of how to submit the requirements and the deadline is June 14th so you have a while the the the whole point of this is to basically get data once it's on Main net and kind of analyze all of that data uh and then spit it out and kind of um send it on to the ethereum foundation that's running this and then they'll uh award people as they do this uh now I know one person out there who is probably going to be

all about this and that's Hill Dobby who makes really really great dude analytics dashboards for a wide variety of things one of his dashboards that I show frequently on the refuel is the eth2 staking dashboard so he's going to be all about this um so yeah he'll do if you're watching uh if you haven't seen this yet I'm sure you have but if you haven't get on this my friend I want you to to be part of this I want you to win um but there are plenty of other good great data analysts out there as well so hopefully they join in on this and do do this too but yeah if that sounds like something you're interested in I'll link this in the YouTube description below for you to check out all right so today's the day that the uh ethereum investment Club one or

issue one is now live so the link to this uh will be in the YouTube description below I think it's in their bio but I'll link it in the YouTube description below uh for you guys to get to but I think I've highlighted this a bunch of times on the refill before because I am an adviser to the team behind this uh I am not getting paid for this I have basically forgone all of my advisor shares and told them to donate them to the protocol Guild but the reason why I agreed to be an adviser is because one I mean I wanted to put my weight behind it my name behind it because that obviously gets more eyeballs on it and two I just think it's a really great initiative because uh with this Magazine with this uh this kind of thing that they're doing uh kind

of quarterly here uh they're basically putting together a massive resource that you can actually send to really anyone it's supposed to be accessible it's not just supposed to be for like us eth Maxis and US crypto natives it's supposed to be accessible to really anyone and supposed to be something that they can read and get a deep dive on everything that's happening within ethereum and I'm not just talking about layer twos and staking and reaking and all you know the stuff that we really care about but it's it's it's stuff beyond that that more maybe appeals to the quote unquote normies like the cultural stuff right the um the social stuff like farcast the gaming stuff like all this stuff that's been happening um that is you know I guess like on the surface nonp speculative but it does get speculative once you dive into it um

that's a big part of this report it's actually the the media part of it but also so there's a lot of insights in there around you know the things we all know and love like eth core development and staking and layer twos and all that so yeah I mean this is just great and if you haven't checked this out yet you can go uh you can go do so I'll link it in the YouTube description below and I do want to correct something I said the other day it's actually free to read this report it's not a paid report uh but there will be like nfts you can mint uh and so on and so forth uh um and I think the nft will give you access to uh to a kind to a bunch of different perks and things like that but the actual

report itself is free to read which is awesome because as I said it is a very comprehensive report that you're getting for for free here like that's just crazy to me uh but yeah just go check the M if you haven't yet I'll link it in the yoube description below but yeah you can read the first edition today and then the second edition will obviously come out next quarter but highly recommend uh checking this out uh for all of your I guess like insights into ethereum there's going to be stuff in here that you haven't seen before definitely there's a lot of stuff in there that I actually don't cover on the refu because a lot of it is um as I said the cultural stuff that I don't not cover on the refuel because because like I don't like it it's just that I try to keep the refuel to a

certain kind of topic or a certain set of topics as you probably noticed like it's very heavy on like eth core development layer twos staking um and a bunch of different kind of like apps particularly within defi maybe some social stuff like farcaster but I rarely cover nfts and gaming and more more of that kind of side of things um and that's really because I just don't pay much attention to it because I don't have time to like all this other stuff takes up my time and I find that all the other stuff that I cover much more interesting personally so that's just what I focus on but if you wanted to get an insight into those things that I don't talk about this is definitely uh the place to start and then you can kind of Deep dive from there of course so yeah I'll link this in the US

description below you can go check it out for yourself all right so ethery announced today that they have raised a massive $27 million round LED by bullish and queen fund now I have to disclose obviously that I'm an adviser to eifi and it is a compensated role uh it is not like the investors Club where I'm forgoing my shares it is a compensated role just wanted to advise that there um but yeah $27 million is a massive round guys but it doesn't surprise me it what has surprised me is actually been the growth of a lot of these protocols like eifi and swellow and puffa like eifi is at what over $1.5 billion TBL or something like that uh and they're just getting started they only launched a short while ago right uh they're just getting started with what they want to kind of do here and they're bringing

some real competition to to Lio and you guys know my whole uh kind of uh thesis and my whole reason for supporting these protocols cuz I am an adviser to swell and puffer uh and and you know a bunch of other things around ethereum staking my whole reason for supporting them is because I wanted to make the staking ecosystem more decentralized I want to help with that in any way that I can and that's what these Protocols are doing they're taking market share that would have gone to Lio or would have gone to coinbase or would have gone to one of these other staking large centralized staking providers and basically taking it in uh decentralizing it by just being different to begin with and then actually decentralizing it by uh by following more of a rocker pool model rather than a coinbase model of just

like very centralized or maybe a a Lio model where Lidos doesn't get enough credit honestly I think that if Lido's market share wasn't 33% they would actually get a lot more credit I think that the fact that their market share is so large people are not scared to give them credit but like they kind of bite their tongue about it I'm not one of those people like I'll give them credit where it's duw yes they're too big right now but hey they have 36 node operators they're planning to add I think another 200 to to their set here they are much better than just like one node operator like I I have to give credit to them for that right um I can't just like uh ignore that but I think people would be a lot happier if their market share was maybe below at least 20% and then people

would be more comfortable be like oh okay yeah you know Li's you know relatively decentralized at the no operator level but hey the governance that sits on top is still problem problematic but it's more problematic at 33% than it is at 20% than it is at 10% so that's the kind of logic I think people follow there but in the absence of uh of that and of obviously and in the reality that we live in where Lio is at 32 33% we need to support all these other protocols that are taking market share away from them to prevent them from growing bigger and to also uh vampire them which is something that these Protocols are doing particularly puffer we're just taking in all these St and plans to vampire that eventually along with a bunch of other protocols here so yeah it all it's all additive it

all kind of helps the ecosystem it all helps to decentralize ethereum staking uh and I think investors are seeing that as well uh with this monster round I mean that's that's a huge round guys like no no matter which way you slice it $27 million for a protocol that is not that old really um is is huge and there's a lot of bigname investors on here like you you'll recognize a bunch of them I'll link them I mean there's a lot of them on here and there's there's a bunch of angels too I'll link that in the YouTube description below but yeah I guess like just a huge congrats to the ethery team I love working with them uh they're true kind of like I'm not going to say that they're eth Maxes but like they're very ethereum aligned they understand what they want to do as a

product what they want to be uh and they and they really deeply care about decentralizing ethereum staking so I'm just really glad to see that they have raised this money uh but yeah kudos to them uh once again on that all right so we have our first bit of I guess you could say accurate analysis on what uh the I guess price of blobs are going to be once they hit mainnet now as you guys know blobs are the new transaction type that are coming with EIP 4844 we have this great tweet thread from from Michael silberling today who works in data at op Labs going through what the actual cost of blobs are going to be from uh at day one so the tldr is basically the blobs are going to be

extremely cheap on day one and he says here we're basically four times growth away from the blob gas price being greater than one gay okay let me put that into context for you guys main net price right now for C data which is what these rollups use is 71 gay like you can see it in my little extension up here at 71 right so let's just say it's one gra on these blobs that's 71 times difference between the costs here now that is a direct cost for a lot of these rollups some I mean they're they're different they're not all equal but that is a direct cost saving for these rollups now of course this is probably going to be temporary as I've said like we're going to saturate these blobs uh because it's induced demand and then we're going to just like add more blobs

and increase the sizes of them that's part of the whole kind of scaling road map there but the fact that we have kind of like some pretty reliable data now that the blob gas price is basically going to be zero at on day one not exactly zero but it's basically going to be zero on day one I'm going to be one very curious to see if we get like an initial surge of of something like inscriptions spam or something because that'll obviously alter things uh two if we get that induced demand which I think we will but like how fast we get it which drives the gas price up three how high a blob gas price goes before people are clamoring to uh basically increase the size of blobs and the count of blobs in order to alleviate that um and and four the actual net reduction will be

for end user fees on the rollups themselves because like there is a 71 as I said X difference here but that doesn't not mean that there is going to be a 71x difference in fees it doesn't mean that if you're paying a 70 Cent fee today you're going to be paying a 1 cent fee tomorrow that's unfortunately not how it works it's not a onetoone mapping but it does mean that there's going to be a significant reduction in fees across the board on rollups at least over the short short term or medium term depending on how congested these blob things get because blobs can be used by anything not just rollups they're purpose built for Roll-Ups but in a permissionless ecosystem you can't stop other people from using them for things like inscriptions so that might just be a short-term issue because as I've said

before there's no point putting inscriptions into blobs since they expire like it'd be better off them just putting it into cold data because core data doesn't expire but core data is actually getting more expensive over time so maybe it best to do that now instead of waiting because there is that EIP to increase the cost of Co data now that we have blobs obviously for Roll-Ups here uh and the C devs believe that call data is mispriced as well uh but yeah you can go read Michael's full thread here um for for a full breakdown of this there are assumptions ba baked into this of course it's not like an exact on to one it's not going to be exactly like this we're just going to have to wait and see what it kind of looks like on Main net which I've been saying for a long time now like as I I

think I've been warning against kind of like putting any hard numbers on these things and if you put hard numbers on them make sure you that you kind of like clarify them uh or kind of um you know warn about them and say that they are based on a bunch of assumptions um and and that's true for Michael's thread as true as it is for all of the all of the assumptions that I've made for all of the things that you've seen on Twitter we just don't know for sure but we will know very soon because denune is what a week and a half away or something like that n it's more than a week and a half it's like it's like a little under two weeks I mean I'm getting ahead of myself yard but yeah March 13th as you guys uh know there but anyway I'll Chuck this in

the YouTube description below for you to check out now final thing before I end today's episode because I actually have a few minutes here I felt like that episode went longer than than 30 minutes but it's it turns out it's at 26 minutes and 30 seconds so few minutes just to go back to some of the market stuff that I was talking about I do want to reiterate what I said please don't lose your head guys like I know it's very easy to lose your head right now I know that I'm personally bull posting on Twitter I mean I bull post all the time so I don't think that should be taken as any kind of like counter signal um but I know that I'm you know very excited about things too because I love seeing the price of of eth go up not because like

of my bags as you guys know I'm not selling my e so it doesn't really materially affect my my kind of like wealth here but I'm excited because it brings more activity right it brings more people into the ecosystem it legitimizes the ecosystem more like For Better or Worse that's just the way these things work but please don't lose your head if you had sell targets before the bull market started you had like a spreadsheet that you made stick to it I know that it hurts to sell and see things go up I know that if you want to sell at let's say eth goes to 10K and you sell there and then eth goes to 15K I know that you're going to hurt I know that you're going to do the math on what you could have made but that is not the point the point is is that you need to

DCA in and out because you're never going to catch tops and bottoms and you need to not look back once you've done it and as I've said before and I I spoke about this with Eric on the drive-thru I think that the easiest way to do this is to not set price targets like I just gave price targets sure uh uh but sorry to not set portfolio targets you set price targets like that's very important sorry I mixed that up there do not set portfolio targets set price targets to sell out because if you set portfolio targets that dictates the price Target and the price Target is always going to be probably higher than than than otherwise would have been because your portfolio Target is higher than what the price can give you because if you have like let's say you've got 10 e and at

10K that's 100K uh 100K yeah so if you sell 10 at 10K it's 100K but let's just say that you want to make a million dollars you're like ah 100K yeah okay it's a lot of money but I want a million dollars because I live in a western nation and cost of living is really high and I want to buy myself a house and so on and so forth okay so if you got 10 eth and you want a million dollar well now the price of eth needs to go to 100K for that to happen and that's not going to happen this cycle long long term I actually do believe that eth can get there but that's not going to happen this cycle guys it's not going to happen anytime soon so that that's the danger of anchoring to a portfolio Target is that you you're waiting so don't do that

choose prices that you want to sell out based on whatever intuitions you have or based on whatever analysis you have then take profits uh and then don't look back don't analyze what you what could have been could or should or what it doesn't matter because uh you sold you took the profits you're happy with your profits and that's it that's all that really matters um and and and also I spoke about this with Eric as well another important factor is that just keep in mind what you're selling for are you selling to buy something like are you buying a new car are you are you putting a deposit on a house uh you know are you buying a house outright maybe you maybe you made it and you're buying a house outright right so uh or are you just selling because you feel like the

Market's overheated and you want to buy back in later there's a world of difference between those things the former is selling to buy something tangible the the ladder is basically trading and there's nothing wrong with either either de side there but you have to decide this before you actually do it ideally as long before you actually do it and then stick to that sticking to the plan is probably the hardest bit getting your your mindset right is probably the hardest bit and you should have been doing this a while ago doing it now is going to be harder because you know the Market's gone crazy you're not thinking a straight As you once were you should have been doing this like probably a year ago and I think I mentioned this a year ago right that you that this is how I kind of think about

things and I did it a year ago like you guys know that I said multiple times I'm not selling my eth but I have a bunch of other things that I'll probably take profits on I did that a year ago like I literally looked at them I'm like okay I'm sitting down putting my spreadsheets together these are my kind of targets here I'm not going to publicize those I'm not I haven't actually said what assets I that I'm going to be selling or holding I don't even want to mention them because I don't want to Shield them or anything like that um but when it comes to eth I know a lot of you guys aren't obviously like me you're going to you know you want to hold eth longterm but at the same time if the things get crazy and you want to take some profits

and buy something with them then you should do that you shouldn't just hold it because you love eth like that's not an option for for for uh uh for for people if that's all you've got like if you've got other things that you can sell and then maybe you can just hold your e and weather the storms then fine cool you know but I know and realize that most people don't have that option and there's nothing wrong with not having that option like you invest in markets to make money you don't invest for altruistic reasons like so yeah I know I'm ranting a little bit here but I really want to get this through to you guys like please please please keep your heads on things are going to get crazier from here things are going to get just absolutely dumb like just the stupidest

is going to pump you're going to get fomo you just need to be calm collect you know be collected and make sure that you're thinking things through as logically as possible and not making kind of fomo Trades here and there because I guarantee you that you will regret it if you do that from and I speak from experience of course but anyway enough on that I think that's going to be it for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone