Notional on mainnet, Synthetix L2 roadmap and more - The Daily Gwei Refuel #35 - Ethereum Updates

Transcript

hello everyone and welcome to another episode of the daily gray refuel where i recap the latest news in the ethereum ecosystem i'm your host anthony cesano and today is the 14th of january 2021 all right let's get into it everyone so before we get into the news from the last 24 hours i just wanted to give a quick shout out to our my friends over at cryptocurrency jobs so i've worked with these guys for for quite a while now i um have the jobs that they have on their site listed in the ether newsletter which is a weekly newsletter that i curate as part of ethub and that and they they also put out a newsletter cryptocurrency jobs uh newsletter each week as well so you can go sign up to this i'll include the link in the youtube description uh and you know the the website that

they've got here actually if i go here i can go to it and show you cryptocurrency jobs.co uh you'll be able to see kind of like you know a bunch of different jobs here you'll be able to to look for jobs in different areas such as you know engineering developing business development marketing community whatever whatever you want basically so yeah i highly recommend going and checking this out if you're looking for a job in crypto i mean i think a lot of people are at this point i've heard that the you know the job market for crypto right now is extremely hot so definitely the place i would go if i was looking for a job so go check that out and you can sign up to the newsletter so that you can stay up to date as well uh with any new jobs coming out

all right there's this meme today i just wanted to give a quick shout out here to ethereum memes an account that i follow for quite a while it's probably uh one of my favorite accounts on on twitter uh and they they put out i mean they first started this thread with like a link to a bunch of um clips from one of the refuels i i did recently uh and you know re-watching these clips actually got me really bullish on eve listening to myself talk about it uh so they're all pretty good clips so shout out to them for for sharing this but i just really love this meme that they've got here right uh of like 8th 10k which has been my eighth price prediction for a while and like the hat on on this kind of guy's face here i just thought that was

really funny i wanted to give a shout out there but yeah go follow this account it's it's great there are so many memes on here i love them all um you know they they're always posting stuff like you know ethel outperformed btc changed my mind uh retweeting other people's memes uh there's just i mean i love this one the other day you can you can watch it here it's just it's hilarious right um yeah so definitely go give them a follow i just wanted to give a quick shout out there so cream finance uh just a couple of hours ago uh announced that this thing called the iron bank which they kind of like are saying that it's going to be a zero collateral protocol to protocol lending platform and liquidity backstop for the entire default ecosystem uh they're first going to be working

with alpha hemorrha or alpha finance with their alpha hemorrhoid product um as a launch partner along with uh wyoming or yearn uh now for those who maybe don't remember cream is actually part of the wyoming or yeon family uh they were kind of i mean i wouldn't say acquired but like they partnered up with them a few weeks ago and kind of this is i think one of the the first major releases of that partnership uh and alpha homo alpha finance put together this thread here that will that basically explains what this is um yeah i mean there's a lot of kind of things going on here the core of it is the zero collateral protocol to protocol lending that's going on so obviously you know anyone who's kind of taken out a loan

in d5 or use their kind of ethos collateral or whatever to borrow stable coins against you know that you have to over collateralize right on maker it's a hundred and fifty percent for eth uh so you can only borrow uh you you know you can't borrow much uh on that kind of eight you need to put up a lot of collateral to borrow a lot or and you know have a safe liquidation price and all that you know whereas we're used to loans in kind of like the real world being um you know zero collateral right you go to a bank you get a you get a loan and there's like no collateral there the collateral i guess is your reputation right and and you as a person your identity is your collateral because you can be chased if uh if you don't pay the loan back right

uh whereas obviously on defy you can be anonymous there's no kyc they can't chase you for it if you run away with the money so there's been a few attempts at this kind of like zero collateral thing um ave also has their kind of thing that they're building where you can uh delegate your trust to different people and do like under collateralized lending like that uh and cream's basically doing it in a protocol to protocol way so you know if they trust another protocol they will allow them to do this kind of zero collateral uh thing which i thought was really cool but yeah i mean i suggest going and reading the full post to get the full details here um you know i actually really like the the way they've kind of like uh uh structured this in terms of uh the the branding around it the iron bank is from

uh game of thrones for those who haven't watched that yet um but yeah i i thought that was really cool and they've got like all these graphics here i mean i like seeing this stuff like maybe just this is an aside but i really like seeing you know high fantasy kind of like uh star art coming into uh d5 and and being used as like marketing materials i think it's really cool i mean i might be biased because i'm a very uh big fan of kind of like fantasy and high fantasy um yeah i played a lot of world of warcraft as a teenager so uh yeah i'm a bit biased there but yeah i'm curious to see where this goes with cream cream has had a rocky past as well i think um that you know they had a few issues with their system where uh

the governance wasn't doing his job correctly you know they were having tokens on there that maybe shouldn't have been on there uh for those who remember the ftx kind of token drama the ftt token on there i won't go into it now but it seems that they are improving and you know they have these kind of collaborations going on which should you know bring more kind of um liquidity and use to their protocol so yeah looking forward to seeing how that evolves there so loopery put out this video today of their layer 2 amm on twitter now they do this a lot i actually think loot brings our marketing game is probably one of the best i've seen in d5 they clearly market the use case of their product right and exactly why you want to use it so obviously you want to use a layer 2

amm to save on gas phase right it's faster it's way cheaper um you know and and and it's built on like an innovative layer 2 using zk roll ups now uh just before i mean i've used this before and i've experienced it and it's it's frankly amazing i um i think that people are really still sleeping on layer 2 ethereum i've said it every single time but they are they have no idea what they're missing so the reason i wanted to talk about this is because one you should go try this out right now at exchange.loopbring.air like literally just pause this video or if you're listening pause the podcast go there and try it out because it's just it's going to change your your way of thinking and if you've tried it out already well then just ignore that and you know go on your merry way

um but for me i mean i i did a trade um just a couple of hours ago on there and i was still just blown away i just love the flow that they've built you know you can you can transfer your assets over to the layer 2 system very quickly and then once they're in there you know once you're on board it's it that's it right no gap like uh no gas fees nothing like that um uh you you basically have like a really small fee like i think two cents um there's liquidity right you can do these ultra fast trades i mean it feels like i've just like gone super saiyan for those of you who have watched dragon ball z um you know i've just got like this massive power up right on ethereum main net on layer one you know maybe i'm just like i'm pretty

strong i can do all these d5 things but then i go to layer two and i get these all of a sudden i get these powers right and it really does feel like that so i mean maybe that's a that's a little bit out there but definitely if you haven't tried this out yet go try it out because you know exactly exactly what i mean so kane from synthetics put out a kind of road map post today for their optimistic ethereum implementation of synthetics so i've discussed how this is going live in the next couple days but it's actually going to be a phased roll out so in this post kane goes through all the different phases what's going to be happening at each phase what you can do what you can't do all this good stuff so there's a there's actually i think four or five phases

um with phase zero it's going to be very limited it's going to be a one-way snx bridge from layer one to layer two including your escrowed snx if you were staking uh the snx and sql sd will be non-transferable um you can mint non-fungible susd on there and you can claim uh snx uh as well on there so yeah i mean pretty limited but still you can do a lot of the stuff here and then phase one uh comes later where you can where the exchange functionality comes in and you can exchange susd for other synths link's going to be supported so i mentioned how chain links actually going to be going on optimistic ethereum as well uh and then the transfers will be enabled for snx and since so uh it says here the transact that

transition to phase one will likely take four to six weeks now i don't know if i mean the wording is a bit funny here i don't know if that means four to six weeks after phase zero goes live um it might because uh you know that's how i'm interpreting it but maybe it means that the you know when the time comes it'll take four to six six weeks to complete this transition so i'm not sure there but yeah basically there's that then there's phase two which is we're going to be a two-way snx bridge from l1 to l2 which is going to be huge right i think a lot of people are you know are still thinking you know what's going to happen with the composability and all this sort of stuff with layer 1 and i think we're going to get an answer there

phase 3 brings with it a host of features um you know that they're working on as part of v3 of the protocol and then phase four so yeah there is four phases actually wait no one yeah yeah sorry there is five phases phase zero counts as the first phase it's uh yeah i always get confused when i look at that but anyway uh phase four um mincing on layer one is actually deprecated uh and there's gonna be a fee pull bridge and position liquidation so yeah that's when they got kind of have like the fully layered two system in place um i'm not sure how long this is gonna take i i assume it's gonna take a few months and maybe it takes towards the end of the year to get this all out there but it's gonna happen um and you know synthetic's doing it making the leap

unit stop making the leap you know i mean loot brings already on there as i just showed you it's gonna lead to the snowball effect where we're going to have this layer 2 thing and by 2022 i think we're going to have a very very nice and bustling kind of ecosystem on layer 2 with all these d5 apps and maybe even other apps on there so yeah really really looking forward to that super bullish on that i mean i've spoken about it so much lately but definitely something to keep an eye on so if the ethereum name servers put out this really exciting update today that they have partnered with cloudflare which for those who don't know cloudflare is basically a um i mean how do i how do i describe it for for the for audiences that don't really work with

web infrastructure they offer a bunch of services you might have seen them pop up on different sites where it says you know cloudflare is verifying you wait a few seconds uh that's their dos protection service which is their denial of service protection you've probably heard of denial of service attacks before and things like that so they offer infrastructure for that uh they also offer web hosting infrastructure and all this sort of stuff and and dns names and stuff they basically i guess offer infrastructure for the internet essentially um so they're i guess one of the most popular or one or the most popular outside of maybe aws from amazon for all this sort of stuff but yeah they're huge and what uh the ethereum name service or ens announced today is that they're partnering with them

to basically do a bunch of different things so what they're going to do what they have been doing is they've worked with cloudflare over the last year to help them develop their own new ens plus ipfs gateway service uh and apparently on january 18th uh in the next what four or five days will the ethereum name servers will point our dns domain ethe.link at their new service and they claim this will not only provide better uptime and scalability but all sites accessed through the service will now have https which means better security and yeah basically this is a bunch of different things here they're talking about and how this is going to improve things but you can go read the blog post obviously for the full details here but i think this is really cool right

this is the web 3 world merging with the web 2 world because i would consider cloudflare the web 2 world right an ens is web3 built on ethereum all this good stuff so i'm loving this kind of merging here and these these partnerships that are coming um and you know it's funny because whenever you see like partnerships quote-unquote like this going on in crypto it's usually used to like pump a token or something like that but ens doesn't have a token so you know you can trust that this is not one of those um but yeah this is really exciting and i hope to see more of this kind of like web 2 web 3 jelly going on uh you know we might see more of it simply because uh of all the platforming that's going on right um you know i think decentralized web services are going to

become more popular as time goes on especially when people figure out that you can actually build a chat app that can't be censored it can be removed from like the app store right and everything whatever but you can still access it from a web browser uh and you can do so using like a dot eth domain right on ipfs and things like that so yeah i think as more people wake up to this we'll have some some sort of migration going on but that's a whole nother conversation that i won't get into today but yeah just something to think about i think so foundation is a i guess like a digital art platform um where you can collect different nfts or one of the many out there right now uh but basically what they launched today

or yesterday was foundation v2 uh so they've got a bunch of different features here uh as i was just saying uh ipfs is getting more popular lately um for like the centralized web so apparently they've ipfs all the things which i assume means that like you can access their website and all the different kind of art you can buy on there or nfts through ipfs links which is really cool um they have this thing called koldi method auctions with tm i don't know if that's tm ironically if it's actually a trademarked kind of thing um but yeah there's no date more more details here so i'm assuming it's like something that they've invented um which which could be cool and then they've also said here they've got uh they've enabled buying and selling in eth and actually had one of the team

members uh dm me and and and we were kind of joking because i was like you know i can't tweet right now so i can't say that is money uh to pump up the fact that you guys have um have buying and selling in ethan we had a bit of a laugh about that but that's really cool to see they actually told me that um eth was was requested by basically everyone because they have dye on there obviously a stable coin works really well but a lot of people requested eth so it seems eth and this isn't just on foundation this is also on a bunch of different nft platforms um ethy's being used as money on there uh and i mean i don't know if you've noticed depending if you're paying attention to nfts or not but it's being used in large volumes as money

and it's kind of like when you think about it it seems counterintuitive it's like you know why are people just using uh dollars right and i think because people want eath right they want to stack each and it's it's it's a i think in some way it's tax advantage depending on how you do it as well but in general uh you know if i'm selling something and i'm just going to put that money into eth anyway just just send me eighth right so you know eight is money i mean for the for the nft economy it definitely is uh and i've seen people use it i mean you know you have open c and wearable and all these other platforms that uh nft platforms that let you buy and sell with eth so i think people are just used to it at this point in the nft arena they price

things in eth so eth is becoming this unit of account as well of as i mean i guess it already was but it's like getting even more popular now and it's still this medium of exchange so yeah eighth is money and for anyone who says it's not money go to the nft space you'll see that um yeah so that was really cool to see so yeah congrats to the foundation on their v2 launcher i'm interested to learn to learn more about um this coldy method they're talking about maybe there is some some something about it somewhere but yeah for now i'm i'm not sure exactly what that is but yeah i'll keep my eye on it so the drama with i guess uni swaps uh continued today i mean i spoke about this a bit yesterday but i don't want to focus on the drama i

mean there's a thread here and you can go see it i'll link in the youtube description what i did want to focus on is hayden's tweet here which i thought was really really really cool and notable so he says and i quote it's worth noting that our team has shown more commitment to open source software than any other in the space we open sourced and there's a whole list of things here i'm not going to read them all out but basically he's saying that the uni swap team has has developed and open sourced a bunch of different things that the kind of community can use for free right at large they've given like a lot back and they have you can see here i mean they open source the protocol right the uniform protocol which is the only reason why sushi swap exists it couldn't it couldn't have existed

without uni swap right because it didn't have anything to fork um so yeah that exists they have um you know there are different different interfaces that they've open sourced here the swapping lp and governance interfaces they have their kind of token list that they've done which is which is an innovative feature and sybil.org which is kind of a governance thing that they've got going on as well and there's a bunch of other things in there so yeah i mean i i wrote about this in kind of the daily grade today about you know open source software and funding it and how within crypto we're actually funding open source software sustainably for the first time kind of ever you know for those who don't know traditionally open source software was basically

either develop i mean most of the time it was developed as a passion project by people um or for fun and then what ended up happening was that some of these kind of things or a lot actually a lot of them got very popular because the code and and and the use case and and kind of like the things you could do with them were so popular that it just ended up being used in like massive applications so what ended up happening is that some internet companies or some you know companies like apple and google and facebook fund open source teams but at the end of the day a lot of them you know monetize off of closed source software so they're not they don't really have a motivation to fund these open source things whereas in crypto uh where like everything's open

source right and it's it's pretty easy to monetize it compared to your traditional counterparts because you can issue a token right that's like the easiest way to monetize it you have a platform that people use right you generate fees you issue a token token could do governance capture fees you know anything else you wanted to do and then the team retains the token or they have a treasury and they can fund their open source work like that on top of that we have git coin which is an amazing platform right we see the git coin grants rounds every round being bigger than the last so far and that's funded by speculation as well that's funded by you know prices going up because every time we have like a kind of a bull market and prices go up more and people get more money they will offer up more money to donate

they will kind of like the matching partners will match with more amounts and we'll get like higher commitments from people so i mean that's huge and that's all funding open source things like not just software but also kind of like media like that goes towards funding things like uh you know the daily gray here where i do everything for free and i don't do any sponsorships but i can still you know make some money from it through grants if people want to donate to me they can and those donations are matched by other people in the ecosystem or other kind of partners in the ecosystem that sign up to the matching so yeah i thought that was really cool to call out here and it's like i guess that's like a kind of a new age for open source software that not a lot of people

are paying attention to i think um you know outside of crypto i think they're missing the forest for the trees you know they see all the speculation they see all the ridiculousness of the prices right um and the bull and bear cycles and they just think it's it's useless but if you really dig in there's so much value being created here for for various different people and tons of people now get to work on what they love creating free software for the world and still be able to monetize it that's that's a game changer right there and i'm really really excited about that uh and one of the you know one of the main things i think that that is is great about the crypto space outside of um you know just like i guess d5 and ft's like this this touches everything right absolutely everything we do

so yeah really really cool to see that and i'm glad hayden put out this tweet i thought it was thought it was really great so uh notional launch today so uh they have uh basically what notional is is the fixed uh rate lending and borrowing platform on ethereum so they launched today with over three million dollars in liquidity and uh you can borrow usdc or die uh fixed at a fixed rate at less than five percent today on their website right now so i mean this is going to be a lot more common going forward i mean i was just talking about how zero collateral loans are going to be coming in a big way because we need them in the same way we need more fixed rate loans because i'm not sure if you if people have seen

but loans on like rv and compound and the rates on there if you're borrowing kind of a stable coin and that's and there's like a new kind of like ponzi farm or something that spins up and then people come in and flood in and kind of like uh borrow this stable coin as well uh the rate goes way up because the liquidity dries up and the rate goes up so that it encourages people to pay back their loans but if you're just borrowing because you wanted to put your stable coins into some you know low yielding safe kind of thing that's that's yielding you like 10 percent and then the yield kind of uh sorry the borrower rate spikes to like 30 40 or something like that and you don't even notice because you're not monitoring it then that's not fun right obviously it

doesn't stay at 30 to 40 for very long but it can stay quite high like in the high you know single digits maybe sometimes in the double digits uh and you just don't know unless you're paying close attention to it so i think fixed rate lending on ethereum within d5 is gonna be very important going forward especially if you can fix that less than five percent on on stable coins that's that's great i mean like you can also think of it if you know if you're paying five percent a year right at a fixed rate and you're getting you know say you're getting like 15 and some in some yield farm on your stable coins then you net out to 10 percent now obviously the yield in those stable coin farms is going to fluctuate as well so if it goes down i guess you want to

make sure that it if even if it goes down to like 10 you still net out five percent and that you're kind of like right that you're paying on your borrow isn't like getting too close to the amount that you're making or or kind of like i guess uh being more than the amount you're making so yeah i think this is going to be really really important here so go check out notional here i actually follow them i haven't followed them yet but yeah i think this is going to be big going forward and i'm not sure about you know how they're doing it under the hood i haven't actually looked into that yet um but you know i i actually think they've got backing from a few yeah a few great teams like parify capital here nascent one confirmation i mean these are all really great uh kind of teams

and funds within the d5 space so definitely not uh you know an amateur project yeah definitely something that's being developed in a professional way so definitely go check it out another thing that came out got to i mean related i guess thing is from yield protocol so what they launched today is fixed rate loans for maker dow users so make a down borrowers can now easily lock in a fixed rate with one click using uh yield's new rate lock tool and you can do this through the yield protocol here and read the details here so i mean as i was just saying you know fixed rate lending is coming in a big way uh i think i'm not sure what notional is using in the background here but uh yeah yield protocol is

specifically using maker dao and letting you lock in a rate here which is actually really appealing because at the moment i think the rate on like an eighth uh generation of dies two percent and that can move up really quickly if the dye peg uh gets gets ahead of itself um so you know we saw this actually happen i can't remember when it wasn't maybe 2019 maybe it was 2020 it was probably 2019 where the rate went from basically i think zero percent or something like that to like 20 within within a short period of time and obviously that's not ideal right so i think this is great for locking in a like if you want to lock in the two percent that's on eth right now even if it goes down it's not that big of a deal uh it's you're protecting yourself against it going up really quickly

and it can so yeah really really interesting to see this uh focused on make it out especially because i think two percent on dye uh i mean to borrow a die right now with ether i think is that's the lowest you can get anywhere i'm pretty sure it's more expensive to borrow die or stable coins on our variant compound right now so that i mean that that kind of borrow rate might not last forever because there's probably a lot of demand for that um so you know there might be some kind of depending on die which means i'll have to raise the the um the stability fee or the lending rate here or i guess like the rate uh not really a lending rate but the rate here um so yeah this is this is something if you if you have an open position then check it out for sure

i think it's really cool so gnosis put out a tweet today saying that they have in the gnosis safe product they have one percent of the entire eighth supply stored in there now for those who don't know gnosis safe is basically the most advanced like the most events are one of the most advanced kind of wallets on ethereum or wallet apps on ethereum so it's a smart contract wallet that you can do multi-sig with i mean i'm pretty sure it's like one of the only multi-sigs on ethereum and it's the only one that i would trust that's for sure it's been formally verified completely audited you know it's been around for a while nurses is really great they know what they're doing um so yeah well i mean you know one percent of the entire eight supply in there is a vote of confidence for sure

that's a that's a a lot of eighth right i think that's i guess like you could say maybe maybe 1.2 million eight or something like that uh which would mean that it's a it's a billion dollars or something over a billion dollars in there so that's a massive vote of confidence and if you haven't checked out nurses safe yet uh do so i mean it's really great as a multi-sig uh wallet you can set that up and have like a bunch of different signers and then they've also got different app integrations on there as well so they call them safe apps and you can do like one inch trades you can do like compound and make a dao stuff they have a bunch of different apps coming so definitely go check that out if you're in the market for a new wallet all right so the last thing i wanted to

talk about today was uh based on a tweet from eric connor here and i mean i i spoke about this just before about you know funding open source software through this kind of speculation and you know eric puts it well here and i'll read out the tweet uh so begin quote i've seen a lot of price talk is annoying tweets during this bull run just stop at the bottom at the bottom of i guess the market we were literally asking ourselves if we can fund ethereum development enough to survive trust me this is better more funding more jobs more dev more everything i mean i totally agree with this i i mean as someone who does a lot of prize tweets i i kind of get these comments all the time uh and obviously i you know i'm obviously i'm really excited that the prices are going up and everything like

that i hold eighth right i mean that's that's obvious um but at the same time if you look past that and you look past the kind of like forest here uh sorry the trees here and kind of like see the the forest the forest is the fact that the higher the the eighth price goes the higher the prices of these tokens goes the more money that comes into the ecosystem the more development funds we have so and you know the more jobs there's going to be as i was saying at the start you know there's i'm i'm seeing that a lot of jobs are opening up now and that's funded by this speculation that's funded by uh you know new funds coming in and being like oh wow there actually is money here there's money to be made and then they invest in companies right they

they buy tokens they do all this sort of stuff uh they're by eighth you know um so yeah i always get kind of annoyed when people say that the price talk is annoying because it's like you wouldn't be able to i guess be and work in this industry if it wasn't for the prices going up like that's just the honest truth and that's not to say that uh you know these people can't can't be annoyed by this sort of stuff um like seeing it every day but i mean that's just the way it is right this is what a lot of people are in the ecosystem for and that's not wrong or you know it's not wrong or right or whatever it just is like i i personally don't think it's wrong um i think that it's very healthy obviously there's a lot of scams that go

on and everything i'm not condoning those things but you know people coming to the ecosystem and speculating is is what drives a lot of it uh and you know i mean just as a concrete example here the ethereum foundation currently has four hundred and fifty thousand eighth i think which at time of recording is worth about 540 million dollars now the way i like to explain this to people is they have 440 000 eth so every time the eighth price goes up by just one dollar they have four hundred and forty thousand dollars more to spend on ethereum development now that's a a lot of money right that's half almost half a million dollars and if you're hiring you could hire two or three senior kind of protocol researchers for that i think i'm not sure the exact rate for

protocol research researchers maybe it's only two sorry excuse me but that's still a large amount right that's that's two high level like protocol engineers that you can fund just because it went up a dollar now eth goes up and down a dollar like every minute basically so you know if goes up a hundred dollars you just times up by a hundred right that's just a lot of money so you know if it goes up uh i mean and then on the i guess on the opposite side of things sorry uh if when eighth was at a hundred dollars right uh the amount of uh kind of value that the ethereum foundation had in that wallet was like one tenth of what it is now so you know that was like nothing i was like 55 million dollars right

um so you can see how the this kind of fluctuations in price and the fact that the price going up is is incredibly bullish because it lets these kind of teams not just the ethereum foundation but any team of the treasury fund more stuff right gets more stuff done so you know if you're one of those people that maybe get annoyed by all the price all of the price talk just think of like the benefits of it that's that's kind of like what i like to think about is that you know every all this stuff's being funded through the speculation and it's and it's healthy it's healthy speculation it's what we need uh to get this stuff off the ground and you know to be frank a lot of new people coming to this ecosystem just because of that right this is how we get them to use these products

and to kind of like uh become maybe uh builders within this ecosystem through that initial speculation i mean i'm not sure how all of you listening or watching got into crypto but for me i got into crypto first and foremost as a speculation vehicle i you know learnt about um bitcoin back in 2013 and i was like oh okay you know this is cool and then i bought a lot because it was going up right and then it went up more and i bought more and all this sort of stuff um and then same with ethereum when i discovered it in early 2017 same kind of thing the thing that attracted me to it the most was the price speculation was the price going up and then after that obviously i you know i stayed in the ecosystem have done a bunch of different things and i'm sure

a lot of you have too but yeah if your first kind of like exposure to the ecosystem was based on you know the prices going up then you're in the same boat i think uh but maybe some people came in through other ways and that's fine but yeah i just in general i think that's good to keep in mind that numbers going up people making money you know you see noise and stuff it's not all bad things the money gets reinvested as well in the ecosystem as i just said the bitcoin grants rounds are the biggest they've ever been that's because people have more money to put up as donations or as matching funds so yeah i don't see any negatives here really i mean the one negative i guess is the fact that it can be annoying you know if you're seeing the same tweets

all day every day and i'm guilty of putting out a lot of these tweets myself but you know i mean you can always just mute the person i guess but uh you know that's that doesn't really solve anything i guess just in general that's just the way it is in the industry i don't see it changing anytime soon right especially in a bull market there's there's just no way um but yeah it is what it is uh but just look past the the kind of trees and see the forest and i think you know you'll feel better um but yeah i guess that's that's all i had to say on that one all right that's it for today's episode everyone thank you for watching or listening uh be sure to subscribe to the youtube channel if you haven't yet give the video a thumbs up subscribe to

the delight newsletter and join the discord and i'll see you all tomorrow thanks everyone