Dencun is coming, Layer 3 chat and more - The Daily Gwei Refuel #745 - Ethereum Updates

Transcript

hello everyone welcome to another episode of the delway refuel where C latest news etherum ecosystem I'm your host and onday 11th of March 2024 all right everyone let's get into it so before we jump into the news over the last few days just wanted to shout out here that Adriano who runs the ethereum art daily initiative here is featuring one of my AI generated pieces as part of his uh kind of collection here so this is the one that that I've titled the blobs are coming it's got an eth logo in the Middle with a bunch of blob likee monsters surrounding it obviously because Denon is going live very soon uh you know Less Than 3 days now less than two or around two days I think from from time of recording here so very very close to denune now now this is up for

auction so I'll link this in the YouTube description below for you to go check out uh and all proceeds uh once this does get I guess like bought out or once this does once the um the auction ends here all the proceeds go to the protocol Guild so I'm not making any money from this or anything like that uh all the proceeds will go to the protocol Guild if you want to own this piece you can it's being auctioned off on Foundation .a the reserve is 0.05 e you can place your bid on here if you want I'll as I said I'll link this in the YouTube description below but just wanted to give a shout out there and thanks to Adriano for putting this there I think it's one of the better AI pieces I've generated around ethereum it came out really really well so yeah I'm glad to

see that it's featured uh like this all right so I know I've talked a lot about the eth ETFs lately but we need to talk about it again and I think I'm going to spend a little while on this so if you want to skip ahead and you're sick of me talking about the ETF stuff you can there's time stamps please skip ahead uh but just fair warning there's going to be a bit of talk here because uh there was some interesting news over the last couple of days so the first bit of news is from Elanor tet here who works at Fox Business you'll probably remember her from when she was tweeting about the BTC ETFs well today she tweeted out that she had a scoop uh saying optimism about the SEC approving the E spot ETFs by May 23rd is waning now she's basing this on things that

she's heard from various sources obviously she doesn't give away who her sources are but essentially it Bo boils down to that the SEC staff has been uh very hard to engage with uh for the issuers or for the potential issuers of the E ETFs such as Black Rock vanck Arc and you know grayscale their conversion and so on and so forth honestly after reading this tweet I didn't really think much of it I read it I'm like okay well you know you're saying sources say this and the SEC staff playing hard to get so to speak is not really something that surprises me to be honest and as I've mentioned to you guys before essentially the ETFs are just a copy paste of the BTC ones they're not Stak ETFs they're just normal spot ETFs so they're really a copy paste of the eth ones which means

there doesn't need to be that much engagement between the SEC and the issuers over this like there was for BTC and we're still you know 2 and a half months almost out from May 23rd so there's still time here but what I wanted to talk about was a tweet that I put out where I said I I quote tweeted what Alano said here and I said I'm no expert on the inner workings of the SEC and US politics but the way I see it is this the SEC is in Checkmate when it comes to the E ETFs if they don't approve them they know that they will get sued into Oblivion and be forced to approve them anyway and I don't think Gary wants yet another high-profile loss against his name so I think the reluctance comes from knowing that they are in Checkmate but they are trying

desperately to find some way to deny the eth ETFs without also hurting themselves spoiler alert they won't find a way so they are literally in Checkmate maybe not literally cuz they're not playing a game of chess but they are in my opinion in Checkmate here they are stuck and they're stuck for a few different reasons but the main reason is because of the fact that the they approved the eth Futures ETFs back in October then grayscale won their court case against the SEC about the SEC denying spot BTC ETS when they approved the future BTC ETFs and that forced the SAT to approve grayscales uh sorry to approve all of the BTC ETFs on genan 10th it's the exact same Playbook Happening Here Right Now guys so that's why that's the main reason why the SEC is in Checkmate here

now there are three things that the SEC can do here none of them are good for the SEC in my opinion none of them are positive at all and none of them involve SEC getting out of Checkmate what I like to say is that the SEC can do these three things but each of these things is flipping the table you know flipping the table flipping the board and just basically uh you knowing you're in Checkmate but like being a s loser so to speak so the three things that they can do first they can obviously deny the ETFs right as I've said before that makes absolutely no sense for them to do that there's no positives for them to do that but can do that it's up to them they have no one stopping them from doing that they can deny them but what do you think happens when they deny them

I mean for everyone who's been listening to me for quite a while you know exactly what happens they're going to get sued immediately I would actually say that the same day that they deny the ETFs will be the day that gry scale sues them at least grayscale the other ones might Sue as well but at least grayscale will sue them uh for the same you know using the same uh lawsuit they used against them for the BTC ETFs and they'll win in court it will be a very quick court case in my opinion because they have the precedent to lean on they being the judges orever whichever judg is assigned to this um so yeah they're going to get sued straight away uh and it's not going to and it's just going to basically what it's going to do is going to delay it it's not going to stop it from happening

it's just going to delay it it's going to punt it down maybe a few months and then it'll it'll get approved so I I don't really see what the point of doing that is like it doesn't actually end well for the SEC at all uh and even politically I don't really think it flies well either okay that's the first thing the second thing is that they can ask the issuers to withdraw their applications uh which would technically not be a denial if the issue was say okay well we'll withdraw the applications and we'll come back next time that is technically not a denial of the ETFs but obviously it means the atfs aren't going live now again this is uh Pro this is probably like the the um the thing that is I guess like least bad out of the three things that I'm going to

mention for the SEC here but it's still not great because okay what happens the issue is withdraw the the ETF applications okay when do they refile they're not going to want to wait to refile they're probably going to refile quite quickly um and at the same time all it takes is one of them to say no like it's it's kind of a game of I guess like a prisoners dilemma right where it's like okay well we all got to say no together but if one defects well then that one gets to H basically you know if the ETFs get approved then they're the only one that gets approved right and the other ones have withdrawn so it doesn't really actually make sense when you once you play out the game theory so I don't think they're going to withdraw and I definitely don't think Grace scale

would withdraw if us to right um and then from there if they all refuse to withdraw and the SEC denies we fall back to the first point I made about how denying it it's just dumb right now the third thing is probably even dumber than denying the ETFs uh the spot ETFs and that would be delisting the eth Futures ETFs or I guess like uh uh canceling the I don't know what the the correct word is here I think delisting might be the correct word here basically they approved them in October and if they basically say okay well we don't want them anymore we're delisting them okay well first they have to give a reason for doing that and whatever reasoning they give is going to be completely flawed and not based on reality the cftc is is going to be extremely upset with them right so not not only will there be

an inter agency inter regulatory agency war in you know between the SEC and the cftc over this the SEC is is likely to get sued for this as well so out of these three things that they could do which as I said is called flipping the table here this is not anywhere they're in Checkmate there's nothing they can do at this point they see the board they know where all the pieces are they know where they are right now they know that it's either approve or flip the table by doing these three things right and I think that each of these things is not positive for the SEC in any way whatsoever it's not positive politically at all and it just ends in ruin for them every single time so then okay what is the PA of least resist resistance it's to be a I guess like a humble uh I guess

like a humble player in the game and to basically concede defeat and to accept that you're in Checkmate you lost you played yourself because the SEC actually approved the E future ztf in October it wasn't that long ago so they really shot themselves in the foot by doing that because if it wasn't for that the argument that they would approve the eth ETFs would would not really hold much water and I would actually be one of the people saying that I don't think the chances are that high if it wasn't for that but because they've done that and because Gres Gale won their case based on that that is really what most of it rests upon um and I think that there is a consensus right now among I guess the people who are taking a more uh I guess like neutral stance on this that if the

SEC was to deny the reason that they would use was that the correlation between the Futures uh uh spot eth trading and Futures eth Trading um is is subject to manipulation is subject to be to fraud and and things like that now we I saw I mentioned the other day that coinbase and gra scale met with the SEC and basically did their own analysis and explained to them that the correlations are basically one to one I mean not that close but basically one to one which means that if they are implying that fraud is happening they would be saying that the fraud was happening on the uh the CME Futures Market the Chicago merile Exchange futures Market in the US which is a very he heavily regulated market so that would be an own goal that' shooting themselves in the foot over that so given all of that as I said

path of lease resistance is for the SEC to approve the E ETFs that's why I'm so confident in them being approved because I do think that uh you know as much as Gary hates crypto as much as Elizabeth Warren hates crypto as much as they've been hostile towards crypto there is just no way for them to deny it cleanly deny the E ETFs cleanly and if they want to go to court again if they want to lose in court again you know if they want to spend all that time and effort if they want to uh reduce Bo The sec's credibility even further and set even more bad precedent for the SEC in courts be my guest you know Be Our Guest here but the better path is just to approve these things and they don't have to worry about anything after that there's no more ETFs going to come after that

for a very long time it's going to be many years as I've explained before the um the issuers won't even bother to apply for an uh sorry an ETF for other assets because those other assets don't even have a CME Futures Market which is a requirement before you can get a spot ETF approved so this is a this is off their table for for a long time they approve them okay whatever it's off their table I don't have to deal with that anymore and they could potentially even just go back to being shitty towards crypto by bringing frivolous lawsuits against crypto companies yeah okay they're reallyu shitty but hey like focus on you know now they get to focus on that instead of the the ETF stuff so that's where my confidence comes from guys and as I've said before I could be wrong on this as in like wrong on them

getting approved I do think with 100% certainty that they're going to get approved at some point I do think they're going to get approved by May 23rd but like my my prediction isn't 100% it's like 99% and that 1% is basically the SEC flipping the table and saying well no you guys we're going to you know deny or theist or request withdrawal of these things for such and such a reason but as I just explained that would not be good for the SEC anyway moving on from us Centric atfs there are two other announcements that are more positive and that's around the London Stock Exchange uh basically has said said that they're going to accept application for Bitcoin and ethereum etns in Q2 of this year Q2 is next month April May June now an etn is basically

the equivalent product to an ETF it stands for exch exchange traded note instead of EX exchange traded fund I think there are some nuances and intricacies between the two but is essentially an equivalent product so they announced that just today and I think that the market has reacted positively to that because BTC is at all-time highs eth is over 4K right now at time of recording obviously positive news here and then another bit of positive news news was that Hong Kong reported that 10 financial institutions have planned to apply to launch Bitcoin uh spot ETFs in Hong Kong and ethereum spot ETFs are under discussion so now you have two other huge financial hubs Hong Kong and London saying that they're going to list not only BTC ETFs but also eth ETFs or etns or are the equivalent products here and then you have the SEC

you know still potentially dragging their feet here so is the going to deny the ETFs and cost the US uh I guess like um economic activity you know I mean maybe they don't think about that but that's like another consequence of them denying these things so yeah there's positive news out of both London and Hong Kong here hopefully the US gets this right I really think that uh you know I I I don't think that uh that Gary is going to be happy about approving these things if he does approve them these things being the eth ETFs but I do think that the path of them approving them is very clear and I think that the path of them denying them while also clear is just full of like it doesn't make any sense like approving them what do you think happens when they is like like do the calculus yeah if

they approve the E ETFs no lawsuits no one's angry at them no bad politics no bad bad publicity no bad headlines none of that if they approve the eth ETFs good headlines right uh the price will probably go up so more good headlines they they make all of those um financial institutions happy as well so maybe more donations to the Democrat Party right like you got to look at the layers to this year and what a denial versus an approval means and in my eyes like a denial is literally just blowing yourself up it literally is just like setting yourself on fire there is no point to it it would be a a total self-own would make zero sense um but yeah anyway before I keep ranting about that I'm going to end that one uh that one there for today cuz there's a bunch

of other stuff to get through but let me know if you agree or disagree with my analysis there as you can tell like I've done a lot of research into this I'm really passionate about this and I'm trying to not you know be too bullish about it but I I can't just I can't see the good path for the SEC to deny here I can't see a path where they and it ends well for them on this all right so obviously the denune is going Live this week so I figured I'd give a little bit of a recap over two eips that obviously I'm super excited about with denune um just to refresh you and a third one as well that may you may not um have heard about too much before so obviously those two two eips EIP 4844 Proto Dan sharding I've spoken about the

O blobs I've spoken about this at length for years now you guys don't need to refresher on this really but I think what I wanted to say was that it's coming in 2 days guys like just around 2 days from now it is so close like it's I get this feeling every time one of these upgrades comes like I was talking about the merge for so long right I was talking about a559 for so long now IP 4844 I've been talking about for the same like a long period of time as well and now it's finally going live on the network and we finally get to see what the actual fees are going to be on the rollups that take advantage of e 4844 and how the network kind of um you know evolves with it and and how fast we increase the sizes of the blobs right

like how comfortable we with increasing the slice the sizes what the load on the Network's like all that sorts of stuff we're going to learn a lot about this stuff and it's going to be super exciting second Erp is another one that I discussed with you guys a few weeks ago EIP 4788 which basically creates an enshrined oracle that improves the communication between ethereum's execution and consensus layers I have a tweet here that describes what that is I'll link it in the YouTube description below for you guys to check out but essentially it means that the execution layer can now access the consensus layer State regarding validator um the status of a valid validator so for example uh if you want to know the status sorry the balance of a validator if you want to know the status of a validator if it's like exiting or if it's in the

withdrawal queue so on and so forth you no longer need a third party Oracle system to do that like rockol has their odow system and other other services have their own systems but you no longer need to do that so that is a huge unlock for ethereum and there's many views cases that are Downstream of that and then the third EIP which is 1153 is a very old EIP now but it's finally being shipped in denune and this mainly is good for developers and it allows uh things like unisoft V4 to launch so I think that's actually the biggest thing with this EIP yes other developers are going to take advantage of it but obviously unop is the biggest app on ethereum still uh and it has been for a very long time everyone knows what it is everyone uses it whether you know it or

not you use that you use the liquidity pools there so this EIP going live allows unisoft V4 to launch which I believe their launch is slated for I think Q3 or Q4 uh this year sometime um but yeah unisoft V4 is obviously a huge upgrade of the unisoft protocol brings with it a lot of interesting features but they they haven't been able to launch because they are using some of the stuff that or they're using what's 1153 enables uh but I'm not a developer so I can't dive too deep into that there but I know that developers are very excited about this so great to see that finally go live but you notice the number is very low 1153 it means it's an old EIP it's been in the works for a while but it's finally Mak it making it into Denon here um and like last thing

on Denon is that uh Trent van EPS has been working on this delivery at dawn uh animation or this one minute animation with the line studio and nouns uh paid for it so this film is going to be premiering uh at um 12:00 a.m. uh my time so Australian Eastern Standard Time actually I think this is going to be uh today I think uh so yeah I mean uh the Monday yeah okay so this is today so I don't know what it's going to be in your local time zone it's 1300 UTC or 1 p.m. UTC 9:00 a.m. eastern time uh which is is morning in in the US there but you can check this out I'll link it in the YouTube description below I got a sneak peek of this short it's awesome guys there are so many Easter eggs for you

guys to find it's only a minute long but it is the first time in ethereum's history that we've had an animation made for an EIP so it's just really great to see that and I hope to see more of these made as time goes on but yeah I'll link that in the YouTube description below for you to check out now before I finish up my talk that discussions about denune and everything uh there is a live stream going to be happening I believe it's tomorrow night I think my time let me have a look here no it's it's in two days from now but it's it's midnight Thursday for me so that means like Tuesday wedes yeah okay so yeah about two days and yeah from from probably where when you're watching this there'll be a live stream uh Co hosted by me eth Staker and eth Cat herters we're going

to be watching Denon go live on the network I'm going to be answering all your questions as well on there there's going to be a lot of great people on there so I hope to see you guys there you can find the link to it I think on E staker's Twitter page which uh you can find if you just go on Twitter and obviously search for their page there but yeah guys we are almost here almost almost almost here to Denon it is so close super excited about it uh but yeah we'll see I'll do a recap on it once it goes live and we'll see what blobs are like and everything like that on the show in a few days from now all right Jason Chasin here on farasa put together a great thread uh going over or breaking down something called execution tickets which was

originally presented by Justin Drake and formalized in a re Arch post by Mike neuter now I remember I covered this I think I covered Mike neuer's research post maybe a couple of months ago or something like that around this and you've probably already read this but if you haven't read that post yet then this thread from Jason is a really great red it's only 15 casts long and I'll link it in the YouTube description below uh but it basically explains exactly what execution tickets are so the high level is that it's essentially ships validator roles and provides a lot of benefits to the the protocol so basically it it's kind of like this overall road map of Shifting validators roles from being block Builders uh to to I like so so okay right now today a lot of validators

aren't block Builders because they're using meev boost but that comes with a bunch of issues uh that you know me boost isn't enshrined in the protocol it exists extra protocol uh and there are issues around censorship uh resistance and there issues around kind of economic incentives things like that right so execution tickets is one of these things that has been proposed as a way to essentially uh uh basically make it so that the validator is no longer proposing a part of the block that includes the list of transactions so obviously that uh kind of falls into what we're doing with with um inclusion list as well um and as Jason explains here now a slot or I guess like a slot a slot is like 12 seconds in ethereum but we some we we mostly call them blocks even though the block is part of the

slot but yeah 12 seconds in ethereum but a slot would be split into two phases a beacon round and an execution round and as you can see here this would work with inclusion lists in order to um improve ethereum censorship resistant guarantees and take away a lot of the negative externalities from me boost and me generally but I'm going to butcher the explanation if I try to explain it Jason does a much better job in his cast here or his cast thread I'll link this in the YouTube description below uh for you to check out there but yeah this is something to keep an eye on it's not something that's probably going to go into the network anytime soon um we'll have to see I think inclusion list will go live first in Petra or Petra towards the end of the year probably actually q1

next year and maybe this goes in shortly after or happens shortly after not sure what the implementation is here I don't know if it necessarily needs a hard for or not but yeah still something that's in heavy research phase right now it may not even make it into the protocol we'll have to see there are a bunch of things that are you know talked about a lot that don't make it into the protocol but yeah if you want to learn more about execution tickets go check out Jason's uh thread here I'll link it in the YouTube description below for you to do so all right so there's been a lot of talk about l3s lately or layer 3es and I know that people have both bearish and bullish takes on these things I would say my general view is that I'm pretty neutral towards these things I don't

think I'm bullish or bearish on them I see the use case but I also see the argument that they may not be necessary longterm so maybe they are only necessary short to medium-term and then long term they uh kind of Fade Away in in um you know in favor of better solution so that's why I say I'm rather neutral on these things and I I also hate the name because the name just opens us up to criticism and ridic fuel but whatever it's out there now but the reason I bring it up today is because Jesse poak put together a nice little tweet here summarizing uh his kind of thinking around l3s and why he thinks that they're a net benefit so he says here the first point is that settlement costs for l3s will be 10 to 100 times cheaper these costs are small but for

developers they are still meaningful uh secondly Justus in time bridging from L2 to L3 will be fast cheaper and significantly more Capital efficient than going from L1 to L2 or L2 to L2 I mean naturally of course uh and the pathway thirdly the pathway for onramps to l3s will be much more streamlined because you have L2 stakeholders who will work hard to make them seamless via routing through the L2 and then it continues I think that on a long time period some or all of these may be solved by proof aggregation but in the short to medium-term Horizon I am still working through how exactly that will shape up and then he continues with a bunch of other thoughts I'll link it in the YouTube description for you to check out but he basically comes to the same conclusion I come to in that L3 is may

be necessary or maybe something people want to experiment with short short to medium term but if we get to a point where we can do cheap proof aggregation um and do it seamlessly and have buying from like all the major l2s and they just start using it and it's just all seamless then maybe a world of l3s doesn't make much sense maybe it is not something that is necessary uh because really at the end of the day you would only be doing it if it was necessary you wouldn't be doing it for no reason um so yeah we're going to have to see how that shakes out but as I said I'm rather neutral on this I'm not bullish or bearish on them I'm monitoring the space seeing how they evolve honestly I'm much more interested in the l2s to be honest like than the l3s cuz the l3s build on

top of the l2s so really I'm way more interested in the l2s themselves and how they're going to shape up because there's still so much work to do there on the L2 and on the L1 as well I mean I talk about ethereum L1 all the time but the l2s you so much work left to do there so much stuff left to do so many upgrades left to come I think that we're maybe putting the car before the horse a little bit with the l3s but I guess it's a permissionless ecosystem people can work on whatever they want but yeah I'm neutral on them right now now obviously very very bullish on L1 and L2 like hyper bullish on both of them for completely different reasons mind you but very bullish on both of those things um but layer3 is definitely neutral right now maybe I become more bullish in

the future maybe I become more bearish I'll keep you guys updated on all of that all right last up here is just another thread from nof So This Thread goes over shared sequencing now obviously shared sequences is a Hot Topic within the ethereum ecosystem and I've talked about it a lot on the refill but if you're still confused about what a shared sequencer is how it works and everything in between nof has a great tweet thread explaining all of this for you so I just wanted to give a shout out to them you can check out the Tweet thread I'll link it in the YouTube description below but you can use this as a really nice springboard into learning more about um about Shar sequences it's not a very long thread at all but it gives you that higher level overview that you may may be missing and

that you may want to read about so yeah check that out I'll link it in the YouTube description below now I've got a few minutes left in today's episode I wanted to leave a few minutes here because the market is heating up guys like the market is really heating up now we are entering I would say maybe halfway through the midpoint of the the bull market uh so I know it's weird to say that where I say like we're in the mid of the bull market which means we're halfway through but I'm also saying that we're halfway through the midpoint and the reason I say this is because obviously BTC is at its all-time highs it's it's basically making new all-time highs every other day now uh it seems to want it seems to have broken through 70k I mean it's only been the last kind of I

guess like day that it's not even day like maybe 8 hours that it's that it's broken through 70k it could come back down who knows right but we're in price discovery on BTC right now eth is not far behind and then we have all this other stuff popping off like we're getting into the to the to the to the the craziness guys they're definitely getting into the craziness here I mean I know Meme coins have been popping off and stuff but I think the memec coin stuff is more the crypto natives trying to front run uh retail investors coming back and buying meme coins but I think that in a in in kind of a weird way even though we're we're you know we're definitely mid Market or even you know even halfway through the mid bull market I think in a weird way like there's not

much noise right you probably haven't heard much on mainstream media you probably haven't heard much from friends and family that aren't usually in crypto like the people that I've heard about crypto from that are friends and family are people that are already in crypto like my dad will talk to me about it and he my dad follows my tweets and sometimes watches my videos as well so of course he knows about it right he was talking to me about it when he was like $1,000 so I don't count him and then I have uh some friends that have been in crypto pretty much as long as I have like real life friends not just not my my crypto friends of course my real life friends that are you know pre- crypto talk to me about it but I guess I'm talking about the people that just don't

pay attention to crypto at all until things start getting hot again I'm not seeing much of that personally obviously it's anecdotal maybe you have a lot of that in your life right now but it does seem like we're we're still relatively kind of quiet on that front but those people usually come in towards the end of the midpoint into the late cycle and that's why we see such violence kind of going up from there right such violent PR price movements up and that's why we see a lot of indiscriminate pumping across all of this stuff that shouldn't really be worth anything right I know when you see everything just going up ridiculously I'm not talking about meme coins I'm talking about like just everything like meme coins you can point to very specific reasons why those things uh going up right but but I'm talking about like everything else that

just has no reason to be worth anything just going absolutely haywi and it's because there just a flood of new money that comes in it's just all this you think of it like literally like water like liquid right you can think of it like a water come flooding in and just like Rising all the boats that's that's essentially what happens right and that happens in the later stages of of a bull market there uh but the reason why I mean the main reason I'm mentioning this again is because again I'm going to do this quite regularly going forward just want to remind you guys keep your heads on I know it's exciting I know it's very very exciting that the bull market is getting more and more heated by the day I know it's exciting that BTC is at all-time highs and ether isn't far

behind I mean ether at 4 over $4,000 today is at its highest price since December 21 and back then that was when it was on the way down obviously but that is a long time ago now so it obviously feels really cool to see this happening here but don't lose your heads guys that's my always going to be my advice just make sure you're still risk managing make sure you're sticking to your plan make sure you know you know where about you you you plan to take profits because at the end of the day you it's all unrealized until you actually realize it into something else that you want I mean I've talked about this at length with Eric and on the refill so I'm not going to rehash my points here but I just want to to remind you guys about that because I know how

easy it is to get what I like to call bull market brain or kind of the bull market virus very easy to fall into it very easy to lose sight of things um you know I've done that personally a lot of times as well uh but this cycle I feel a lot more muted and I think it's just because it's the stage of where I'm at with kind of my uh my crypto Journey this will be my fourth cycle in crypto technically so yeah I mean I at this point in time I like I I don't really get that excited about it anymore which is a good thing cuz it means that I can be more objective about it and be more levelheaded about it uh and make and I'm I'm not suffering from the same emotions that other people are kind of suffering from when it comes to the markets so

that's why I'm trying to impart this kind of I guess wisdom onto all of you and you can listen to me or not I'm not saying you have to listen to me I'm not saying that I'm right just trying to you know impart kind of objective wisdom because yeah I I I really even at e above 4K I saw it and I'm like okay like I'm happy but I'm not like euphoric and ecstatic and I'm not like being like Oh my God awesome up only super cycle like I'm not like that at I I was probably last cycle a lot like that but these days I'm very very different here so that's why I think I can look at things a bit differently and and pass that on to you guys there but I think on that note 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