Meta Vaults live, The Ethereum Iceberg and more - The Daily Gwei Refuel #500 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of The Daily gray refuel where we cap the latest news in ethereum ecosystem I'm your host in the Nissan 2015 December 2022. alright everyone let's get into it so as you may have noticed today's episode of the refuel is the 500th episode that's just crazy when I say it out loud 500 episodes of the refuel um pretty much all of them were half about around half an hour each there was a couple of episodes that went uh went longer or maybe a few episodes that went longer over the last 500 of them but yeah I mean I'm pretty proud of the achievement if I if I do say so myself I mean I obviously have said before I have no plans on stopping so we're going to be at a thousand uh you know probably in another couple of years

or so um but thank you to everyone who has been with me uh with you know whether you started at number one whether you started at number 300 and you're here today it doesn't matter I appreciate all of you for kind of listening to me ramble on about ethereum and and crypto stuff and kind of engaging with me on the Discord channel in the YouTube comments always appreciate that and you should join the Discord Channel if you haven't yet definitely uh go do that there's a lot of lively discussion that happens in there so much that I can't even keep up with it anymore and it's great that it's it's great for me because I don't have to participate in a lot of the conversations and I don't feel obligated to because there's so many other people in there so many smart people just having their own

conversations talking about things which is always really exciting to to read back on but yeah uh big big milestone for the the refill today uh and on that note as well there's actually something else going to be coming back to the Daily great ecosystem which I used which I think I stopped doing maybe about a year ago but I'm bringing it back uh is the daily way AMA Series so I used to do these about a year ago every two weeks I would do I would collect questions from the community and that then I'd answer them on a Discord uh live voice session but there's gonna be a few changes here so I'm bringing the amas back but it won't be a live Discord chat anymore it would just be an offline recording that I do uh every two weeks and you can still ask your questions in the Discord

channel in the AMA series Channel there so if you join the Discord go to the AMA series Channel and ask your question in there I'll be kicking this off on Saturday so I'll record the the um the video and upload it on Saturday morning us time uh and I'll just record it on my own it won't be a lot a live thing anymore and the reason for that is because it was kind of hard for me to do logistically I used to do them at 11 p.m my time and then I'd have to change it because of daylight savings and things like that just to you know make sure the people could could be there to actually um participate but really the majority the vast majority of the questions I was answering were always just coming from that ama series Channel rather than people asking questions live so that was

kind of It kind of became pointless to do them live so I'll definitely just be recording the answers and uploading uh them there uh and you'll have two weeks from every Saturday to ask questions for the next AMA and you can ask them in the AMA series channel uh whenever you want in those two weeks and then I'll get them answered and of course I'll be recording and uploading it to YouTube and on the podcast uh just like I do the refuel so yeah as I said go ask your questions in the AMA series Channel if you have anything for me and as I said it is an AMA and ask me anything it doesn't have to just be about ethereum or crypto it can be about anything but feel free to ask me absolutely anything you want about ethereum and crypto I will always do my best to answer it but

you can also ask me about questions about things such as like Angel Investing which I know a lot of you guys are pretty interested in because it's something you don't really get to participate in and I obviously do so getting the inside scoop there I know is very interesting to you guys and on that note I actually did a stream with uh David Hoffman uh on the weekend uh you can go check that on the bank bankless YouTube channel and we talked a bit about that about the angel infesting side of things about how the private markets differ from public markets and or our thoughts around that so definitely go check that one out as well but yeah I guess happy 500th episode to the refuel and welcome back to the amas all right so we have a new Mev dashboard out of the uh rated uh uh kind of tool

here today so I've talked about raider.network before and they've launched something at rated.network relays so it's a relay monitoring uh screen uh or tool as relays start to mushroom counting 10 distinct ones in the first 75 days a post merge good data and monitoring become increasingly important now we know that we've I've referenced the mevwatch.info website a bunch of times well this is just another tool in your tool belt now I don't think raider.network is uh differentiating between uh relays that are censoring and not censoring I don't think they're actually including this at all on here yeah what they've do what they are tracking is a bunch of things like total value relayed uh last 500 Epic Slot distribution so how many of that does

with that was Mev boost how many is vanilla block uh how many is an empty block it seems uh that the vanilla blocks only account for around 10 of the network so they're pretty the 90 of the network is using Mev boost which shouldn't be surprising considering the I guess like uh the fact that the rewards are potentially double if you're using Mev boost instead of not using them in terms of the APR on your eat stake then they've got a breakdown by Mev relay uh around I guess this is like a dominance dashboard and then under that they have a Mev boost relay market share flashbots uh is at about 74 market share uh blocks route Max profit is uh 15 block native four percent and then there's like a long tail here I don't know uh what this market share is

measured by like is it like the last seven days or oh here we go last 30 days okay they have a they have a rating time window up the top here so if we go all that should change that yeah so if I do the last seven days because this has been interesting to me flashbots dominance is actually going below 70 right now uh block native is actually coming up in the world too they are a censoring relay just FYI and I'm an advisor to block native but I don't mention them because of that I mentioned is because I noticed their market share growing there but but yeah flashbots is market share is definitely coming down and then if we go like the last day or so uh to see those new relays popping up like the ultrasound money relay and the agnostic real agnostic relay here and

also flashbot over the last days is down to about 65 but as we know a day's worth of data isn't worth much so I always like looking at 30 days or more and you can see the data there but yeah you can change this you can even change it to all-time data but just a great new dashboard for us to be monitoring these uh these relays here now I did mention there are 10 active relays and this is and and today there are actually more active uh non-censoring relays than censoring ones and you can see as uh mentioned on the Mev boost.info website there are only four censoring relayers right now which is flashbots block native Eden Network and blocks route regulated whereas there are six non-censoring relayers which is blacks blocks route Max profit manifold agnostic boost blocks route ethical

relay or and ultrasound money now of course the market share isn't even at all flashbot still dominates and I mean 79 of all Mev boost blocks are censoring so four relays hold 79 of the market share but these non-censoring runs are relatively new besides blocks route Max profit which has actually gone up to almost 20 market share uh lately uh and I guess like manifold and blocks right ethical three of these are very new agnostic boost and ultrasound money only came out of you know on Friday or something right um and relay or has only been out for a few weeks uh so we're gonna have to give them time to bake probably a few months to see what happens there but the down there's still a downtrend on on the kind

of like um censorship here so in terms of post merge daily oh fat compliant blocks including all blocks uh we seem to have topped out and going on a slight downtrend in terms of just Mev boosted blocks we have been on a nice downtrend for a while now I mean we peaked 97 of all Mev boost uh blocks were over compliant now it's just 80 so we've definitely uh come down there which is really awesome to see and this is in the face of some big entities enabling Mev boost on their staking uh pools I was taking uh services such as coinbase right you can see coinbase is dominated by a lot by flashbots here uh they only uh did Mev boost recently uh but and they hold about 11.6 of the um mistaking

market share so in the face of that we've still managed to come down which is which is really positive but uh yeah just really like this new dashboard from the raider.network folks you can check this out I'll link it in the YouTube description below but nature is healing so to speak guys in the Mev world and I've talked about this a lot I'm not gonna rehash it but I think that nature is healing but you also need to set your expectations it's not going to happen overnight it's not going to happen in a week or a month it's going to take multi months of us waiting and and for the Relay our um environment to get bit to get uh I guess more competitive and for the Builder environment as well to be more competitive and for people for for more people to come online painful more

non-censoring relayers to to come online as well and what I'm really looking out for is one of these censoring ones to actually change to non-censoring now that's obviously something that probably has a low chance of happening it would probably I mean definitely for flashbots and I think I mean I I I could probably say with certainty for flashbots because uh it's been publicly I guess um confirmed in so many words probably not like explicitly but through the various Communications from flashbots we can assume that the reason why their censoring just comes down to what their lawyers have told them and I would assume the same is true for Block native Eden Network and blocks routes are regulated here blockshot's funny though because I don't know why they're offering a regulated one when they have

Max profit and ethical um it doesn't really make sense to me and their regulated market share is only 2.3 percent so and and like logically that would be less profitable than uh than there are other ones because of the facts uh of the matter is like it's obviously tornado cash transactions aren't a very big pool of transactions these days but they will be paying a fee so there will still be a tiny little profit difference there but that's off track yeah in terms of I guess you could say like flashbots block native and either Network which don't offer a non-sensing relays at all it's all on their their lawyers and if their lawyers change their tune and say hey we don't see a risk here anymore or something's changed and we think that you can do you know you can offer a non-censoring real layer now which again low chance of

happening but I that could happen right non-zero still that would be huge that would be awesome to say because as I've said before shutting down a relayer is not a permanent solution it is a Band-Aid solution um and also even changing from from uh censoring to non-censoring uh like that these These are really as good force to be sent could be forced to censor again and there is precedent of them doing it same is true for the ones that are not censoring right now maybe they get some kind of legal action against them or some cease and desist or whatever we don't know it's too early in the game to know that but the end goal obviously is to build decentral relays where they basically there's no incentive for them to censor at all and because they're not

centralized it's much harder for them to do that but that's more I guess like down the line for now these are all centralized relayers but the more the merrier because obviously uh the more that come out the the better it is for Relay diversity but also the better it is for censorship resistance all right so I put a tweet out over the weekend after setting up my first rocketpool mini pool saying I don't need to do it but after setting up my first mini pool I want to set up more mini pools and also build myself a new solo staking PC ethereum staking is addictive now for those of you who have been uh following me for a while you know that I've had the same staking PC that I had when I first started staking uh uh when the big and chain first went live I mean

I sent my deposit as one of the first deposits to go in on November 24th uh 2020 which is about a week before the beacon chain went live and since then I've added to that it's it's a solo staking PC my rocker pool PC is completely separate I run two distinct ones I just didn't want to commingle them um but I am upgrading my solo staking PC I ordered the parts coming this week so I'll be building a new one I didn't need to do it but like I got so excited after sitting at my mini pool uh that I was like oh like it's you know I feel like I should upgrade and just like further future proof my staking box even though it's not necessary at all and I and and uh funny thing is right now on my solo sticking box I just haven't and change

this because I haven't got gotten around to it or kind of couldn't be bothered it's running on Windows and I was I I've used Linux a lot in the past but for the rocketpool mini pool I set it up all on on Linux and I was like far out I love working with the command line so much I mean obviously I use like Powershell with Windows but it's a different experience I just love the seamlessness of the command line never having to go into a GUI at all and not even have not having to touch that or worry about that so I think with my new pc I'm going to set up set it up as a Linux box and I'm going to just import all of my uh kind of like validators into it um uh when I get around to it I guess so

so to speak uh because the migration uh should be relatively easy you just have to import your validator keys shouldn't be too hard to do that um uh but yeah I'm going to be doing that uh maybe I'll post a picture of the build when um on on Twitter uh uh once I do it uh it's definitely a more I mean the current build I've got is quite small it's it's a it's probably a larger build but I'm definitely looking forward to it I love building computers but just generally um as I said last week setting up the mini pool was very straightforward very easy and I want to set up more I want to get to like five at least I have one right now so another four uh and obviously I suggest that anyone who has 16 8th and has uh you know the RPL I

think it's 105 RPL or something like that that's required uh I recommend definitely going with uh with rocketpool for for staking uh because solar staking obviously requires that 32 each you can't get around that whereas with rocket boards currently 16th and they're looking out into ways of lowering that to potentially eight or even four eighth from what I've seen um so even if it goes to 80 that is a huge thing like that that's actually actually pretty massive because you're opening up a massive amount of people to be able to stake with rocket pool and then go into fourth and even even lower than that's obviously even bigger and the cool thing about that is that that would inherit um uh the uh the any changes to ethereum solo staking so if solar staking went from 32 to 16 eth I mean I'm not expecting it to happen anytime soon but

if it did theoretically rocketball could then halve instantly uh for their meaningful requirement so if it was 40th uh you know at that point it could go to two eighth and it'd be effectively the same thing right but obviously it helps a lot for for getting people more people involved with solo staking or staking via mini pools all right so uh starting from Ave has put together an RV protocol V3 overview and he says it's good time to review why V3 as a flexible architecture is much appreciated the other V3 was deployed earlier this year across various networks including polygon Avalanche and L2 such as Arbitrage and optimism has a cross chain uh strategy and then he goes on to give a bit of a recap of what's going on in Ave I mean it's quite a

lengthy thread so I I'm gonna go um link that in the YouTube description you can check it out for yourself but the reason I bring it up is because I wanted to talk a little bit about Ave and these quote unquote D5 1.0 protocols that are still around today still building and still working very seamlessly and we saw how seamlessly they've worked especially this year in the face of all the C5 collapses I think there's been there's not been a better advertisement for D5 than all the C5 collapses especially things like like FTX and especially fake defy like Terror right so in the face of all of that people have often regarded these D5 1.0 things as as bar right it's all it's boring there's nothing here like some of them have face share some of them don't their tokens don't really

do anything it's not d-gen it's you know we know what we're getting with Ave we know what we're getting with uni swap but the point of Finance is not to be fast and loose not to be djan not to be ponzi-esque right the point of proper finance and a proper financial system is to be stable and predictable now you're not going to get that from a lot of what is claimed to be D5 and I'm not saying that things that are more I guess like on the Degen side of things couldn't be considered D5 as well but if we're trying to build a proper financial system that everyday people can get use out of and that institutions can feel comfortable using they're not going to I mean these things that look like ponzis or that look really D gen are not going

to be those things those things are going to come in the form of Ave as a lending market right of unisop as a an exchange to basically exchange any asset you want through the through an amm which uh is is obviously a very powerful architecture and then other things like makeup issuing stable coins and then just stable coins in general right like I mean I'm not talking about stable coins like UST which were obviously uh ponzis but stable coins uh like decentralized ones that we all know and use and uh you know and maybe love or don't love but you still use them right and then the decentralized or that gets like pseudo decentralized these days like die and then maybe Rye is a truly decentralized one these things are definitely the things that we should be focusing more of our efforts and time on

and these are the things that ethereum excels at ethereum does have a pretty big D gen site I mean we saw this play out in defy summer it has uh you know a side where people are just like issuing coins and trading them and whatever else you want to do but in the bear Market the I guess fundamental side of ethereum the slow and steady state of ethereum shines and we see that with all these protocols as I said the Shia all these D5 1.0 protocols that have been around for a while acting as they are programmed to act acting predictably being able to weather this extreme storm that we've seen this year and I think it's not talked about enough because I guess like the reason why or one of the reasons why it's not talked about enough besides being boring for a lot of people

is that people want to speculate on things and when they when you're looking at something that like are there or like a unisop for example there's not that much to speculate on I mean you know what you're getting with Ave you know what you're getting with uni swap you know you know you know that the chance of unisop enabling a fee take on the token and paying it out to token holders is quite low for the time being you know that Ave already has that ability built in so there's no I guess like narrative to hop on about nothing to look forward to there you know that Ave is probably gonna come out with uh with upgrades and it's probably going to be a while before they do that but as I said you know what you're getting with these steady state protocols whereas people who want to

speculate they don't want to know what they're getting they just want the narratives and that's what you see especially in Bull markets the narratives are so powerful and then once it's actually delivered that power goes away because you can tell a story and you can tell the greatest story ever but once reality hits you uh it kind of erases the the magic of that story so the perfect example and I always go back to this because it was such a huge example in the cardano ecosystem they didn't have Smart contracts and then there was all this hype about smart contracts everyone was going on about once they implement it it's going to kill ethereum it's going to become like this Premiere platform it's going to be amazing you know Ada to the Moon all that sorts of stuff and then since they deployed smart contracts Ada has been

down only I mean leading up to it of course it pumped right but why did it pump well The Narrative of the story the belief people truly had this belief that one smart contracts were implemented uh cardano was going to take over the world and of course that didn't happen that was during a bull market as well and if you if I had to take something within ethereum that had maybe a a similar kind of story and narrative around it but I think is very different was the merge and it's very different because one the merge happened in a bear market so totally different market conditions um and two the merge I feel like people might have gotten the wrong idea about the merge and I tried to warn about this a lot of times but the merch had a very powerful story behind it it was a

fundamentally huge upgrade for ethereum and it succeeded and and everything went really well and and it's been very good for for I think like uh each price against Bitcoin but if you look at it in terms of its price against US dollars it's gone down since then right we had a little bit of a narrative pump and then it's gone down so I think you can compare the two as kind of like these narratives and stories that never live up to the hype and it goes for absolutely anything in crypto but that's the short to medium term speculation hype the long term is where it counts a lot and within ethereum there is a lot of hype around certain things obviously there's a lot of hype around erp1559 and ethi is basically I guess more than 50 down from where it was when 1559 went

live um you know each below the price it was when the merge went live but these things are long-term fundamental drivers and you know what cardano smart contract thing could be a long-term fundamental driver for cardano but I mean I don't know has a bunch of other issues with it that I believe are fundamental and and and I don't think I don't know is actually going to succeed long term but I was just using those as examples so when it comes to just people caring about certain things I think it's definitely a narrative uh a play a story play especially in Bull markets and then the boring things don't get the attention because I mean they're in inherently boring I mean generally humans are not going to pay attention to many things that are boring and the thing is is that boring isn't Universal either what's boring to you may not be

to someone else there are people involved in the dowels of these protocols that definitely don't find it boring they find it exciting that's that's their way of looking at things that's that's their what they do in this ecosystem and that's totally fine I mean for me there's plenty of people who would find it boring doing a Daily Show on ethereum every day and having to keep up with everything but I love it it's my passion so boring is not a universal thing and it's not it you know just because I find something boring doesn't matter doesn't mean you will and vice versa but as an aggregate thing as an aggregate Speculator thing speculators always need the I guess most bombastic narratives the most bombastic stories to attack to to latch onto because they know that it works to at least in the short term uh be able to help them put

on a trade and profit from it that's all it is medium long term different story short to even medium term is definitely driven by that sort of stuff but long term as we say is driven by fundamentals but uh but yeah anyway enough on that one you can check out stani's thread I'll link it in the YouTube description below all right so a big announcement out of M stable over the weekend so they officially released their meta vaults uh on December 2nd I think it was about three days ago now which is a composable vault architecture built on ERC 4626 now I've talked about erc46 26 before and I've talked about amstable's plans before you guys know I am investor and advisor to M stable here just to disclose that but what does this release bring well it brings exciting new

updates to M stable including a scalable architecture and setting M stable up for a multi-chain multi-platform composability what are metabolts or metavolts are yield generating strategies that are implemented using smart contracts they are ERC 4626 compatible compatible contracts that can generate yield in a diversified manner it allows uh to combine and compose multiple yield sources into one and you can see a nice graphic here of what that looks like so basically you've got these different yield sources underneath they all feed up and then they feed right up into the metavault and the user only needs to put in usdc into the metabolt and then they take out usdc so very simple one transaction deposit withdrawal for the user and it auto compounds as well for those returns uh and and rebalances as well and as I said

it's going to going to be multi-chain and multi-platform are with composability there which is obviously going to be very powerful and and critical going forward because of the multi-chain world that we're going to live in and multi-chain obviously can mean other layer ones but obviously when we're talking about in ethereum we most of the time mean layer twos and that's definitely what we need the composability but between them there and there's a bit more information in the M stable thread here about how this all works Under The Horde and you can go check that out but if you want to check out the yields as well you can go to yield.mstable.org to see what the yields are how you can get involved there and you know it's funny because right now I think no there's probably a certain number of people that are sitting in

maybe on aggregate more people are sitting in stable coins and they are deployed into the market right now uh so say you have like ten thousand dollars of um of a portfolio maybe you have like I don't know seven eight thousand in usdc and you have two three thousand in Heath or something like that well maybe that usdc sitting in your uh ethereum account right now and you're wondering okay well I'm not ready to deploy it yet but this is just sitting here doing nothing what can I do with it well you can go and earn some yield on it right I mean that's the Bedrock of Defy is yield so you can go check aim stable solution out for an easy way to do that and then if you want to later uh deploy that usdc into the market because you feel like the market is going to go up and you're

comfortable with with the the playing there then you can do that as well and as I said it's just one transaction to deposit and withdraw using the new meta vaults uh I'll link this in the YouTube description you can go check it out for yourself so an interesting graphic that Hudson Jameson posted over the weekend called the ethereum iceberg as you Traverse the layers of the iceberg the references get more rare uncommon or strange so I'll link this graphic in the YouTube description I'm not going to read out everything here but I thought this was funny because this is basically a test of how OG you are in the ethereum space I recognize pretty much everything here except the bottom I actually didn't recognize one of the things on the bottom and I'll um I'll uh read out the bottom things just so you guys can uh can can know

what I'm talking about so there's five things here one of them is Andrew Miller predict predicted the Dow hack the second one ethereum JS padding bug third Mike Trout fourth mutant fifth Joe Lubin Bahamas recording studio I had absolutely no idea what any of these meant and I asked some friends and they told me but the reason I didn't know it was because this was uh quote unquote before my time I got into ethereum in 2017 these all happened before 2017. that's why I knew everything else because it happened you know around 2017 or it was so popular that I had heard of it such as the Dow where the Dow is at the top because everyone's heard of the Dow um but then there are some others here that I hadn't heard of either but I was pretty proud of myself because I got

pretty much everything um just below you know above that bottom line um but yeah this is a test for yourself as well if you want to see how OG you are you can go check the graphic out I'll link it in the YouTube description below um but yeah there's been a lot of things that have happened it's kind of funny where Hudson put them on the iceberg here in terms of uh I guess like this this is right I ranked in terms of how well known it is like for example at the top he has you know the board ape Yacht Club the Dow uni Swap celebrity and defy summer like pretty much everyone in ethereum knows about I guess like well I guess you could say three or five of these things at any given time like I would say there's some people who they

wouldn't know about D5 silent because it happened you know over two years ago now uh the Dow maybe some people don't know about it because it happened quite a while ago like six years ago um but you know I I think unisop everyone would know about um and bought Apes I think everyone would know about as well solidity it's pretty hard not to come across it considering that ethereum is you know everything's built all the smart contracts are built While most of them are built in solidity right but then you go further and further down and yeah that's just the test of your knowledge so I will test if you're oh genus I should say so you can go check this out I'll link the graphic in the YouTube description below all right so pseudotheos had a uh tweet over the weekend where he said reject

web3 Embrace crypto so terminology uh web3 and crypto here I remember writing a daily wear newsletter about this quite a while ago now saying Embrace web 3 and reject crypto because at the time I thought that the web through terminology would be more I guess like positive for the crypto ecosystem so to speak or for our industry than the crypto terminology because the crypto terminology had been poisoned uh over the years at least that's what I thought at the time and this was I think during the bull market uh and web 3 was like this new flashy thing that we could and then and then more people can understand it because it was a continuation of web 2 and all that stuff but I think over the last maybe 12 to 18 months that has been like completely uh obliterated I don't think

that the term web 3 um is is safe anymore to use around normies especially it's definitely something that's been poisoned as well and honestly no one uses it to describe uh crypto as a whole they more so use it to describe the applications so I think we're just going to be stuck with crypto forever even though crypto isn't like just exclusive to cryptocurrency it or crypto assets it's also it's obviously for cryptography but I guess the Bedrock of crypto assets is cryptography so it doesn't really matter that it's uh that it um it's not exact um but yeah I guess we've lost the battle for web 3 guys I think crypto is here to stay I don't think that web 3 is going to replace it and uh yeah I guess I was wrong to think that birthday was going to replace it back then but I

guess maybe I could be forgiven because it was a bull market but anyway leaving that at that uh last couple of things to get through um bankless announced that they have bought uh ernify which is an airdrop hunting tool so for those of you who don't know only fight is at all that lets you put in your address it hunts airdrops for you and then if you want to uh so they have like a free TL where they show you the most common airdrops that everyone already knows about such as the uni swap airdrop and a few other like the ens air drop and things like that but then they go deeper and if you pay I think it's like 20 or something uh they'll show you all the airdrops that you've missed uh that you may not have heard of and I think this is pretty cool

because the business model makes a lot of sense where they give you the free TR they show you hey like we can find the airdrops right we this is a legit service and here are the ones that you've missed and you just put in all your addresses and you find them but then going even deeper to ones that you may not have even heard of there could potentially be worth hundreds of thousands of or hundreds or thousands of dollars paying 20 bucks to claim those is worth it and they actually show you the dollar amount of the airdrop uh but they won't show you the information of obviously what that airdrop is until you pay but I think it's just like a pretty genius business model and I think Bank Less acquiring them is a pretty good fit as well I mean bankless has been trying

to branch out from being just a media company into into basically everything in crypto and this is I guess another step on their Journey so congrats to them and to Ernie Phi for being acquired by them uh you should go definitely check out the tool this isn't sponsored or anything like that I I personally haven't paid for the tool just full disclosure here but I have used it for the free TR and I've also um seen people use it and give me good feedback about it and obviously bankless acquiring it is a pretty big source of legitimacy for me uh so you can go check it out if you haven't heard of this tool yet there may be hundreds or thousands of dollars waiting for you but as I said not an ad not sponsored at all you guys know I don't do ads on the refuel just

figured it was something that you guys might be interested in hearing about all right last up here is uh for the Australians among us there is a petition right now uh basically to uh sign it you can sign this petition if you want to let the Australian government know that as Citizens we reject or at least we are concerned about uh Central Bank digital currencies and we're also concerned about uh The Reserve Bank or the government in Australia wanting to uh limit cash in the economy there is a rule right now in Australia I believe that you can't do cash purchases over ten thousand dollars or something I don't know if it's currently implemented but it was a rule and this isn't unique to Australia obviously a lot of the

western Nations all over the world have been trying to get rid of cash because for obvious reasons right I mean cash is actually Anonymous or it can be anonymous or I guess I should say pseudonymous Anonymous from from the government to an extent right uh obviously it's uh harder for the government to track this for tax purposes and there's a bunch of other reasons there but they have you know we have digital money so to speak fake or I guess like a centralized digital money when you put your cash into a bank and then the bank kind of like changes it into their I guess uh sorry puts it into the digital banking system and it just becomes numbers on a screen then we have crypto and then we have these cbdc's or Central Bank digital currencies that are kind of making the rounds or and and

obviously uh um central banks are going to love this because it allows them to have complete visibility over the financial system and governments love this as well but the downsides come in the form of control they're so centralized that uh you could uh what could happen is something that happens in China where the government could say well you know disable this person's uh account completely or limit how much they can spend all this other stuff I mean it's obviously pretty dystopian when you think about the implications of this sort of stuff so if you are concerned about that uh and you are in Australia definitely go and check out this petition I'll link it in the YouTube description below but thanks to I think it was crypto Spanglish for putting this on my radar in the Discord Channel I appreciate that one but I think on that

note that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone