Optimism onboarding update, Rainbow NFT support - The Daily Gwei Refuel #415 - Ethereum Updates
27 Jul 2022 · 29:21
Anthony Sassano argues that crypto assets accrue lasting value mainly by becoming money or sharing protocol revenue with holders, and says Ether combines both roles. His Ethereum ecosystem roundup covers Optimism’s experience-based onboarding, Arbitrum’s redesigned bridge, Scroll’s early bridging work and Polygon proof-of-stake growth. He also highlights Rainbow NFT support, Mirror wallet-based subscriptions, and the importance of business development, marketing and durable communities over technology buzzwords.
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hello everyone and welcome to another episode of the delegate refuel work up the latest news and ethereum ecosystem i'm your host the anthony designer and today the 27th of july 2022 all right everyone let's get into it so the first thing i wanted to talk about was this tweet that i put out today that i don't know if it was controversial but there were some people that disagree with me on this and i'd love to just kind of go through this with you guys and see what you think about it so i said in this tweet i think there's really only two ways that a coin slash token will be able to accrue a long term value uh the first way is becoming a money a slash store of value second one is becoming equity-like such as sharing protocol revenue with token holders and then i said that assets that
do both will become the most valuable now in the first kind of a category here i gave examples of ethan btc i don't think there's any other assets in crypto that are a money or a store of value um or like or something like a commodity right there are kind of like assets that have commodity-like properties but definitely not on the level of something like an etho btc which are definitely money and definitely a store of value right and i think the most obvious kind of evidence of this to me at least is the fact that both ethan btc trade at many multiples of their price to sales kind of like ratio btc in particular trades at like over 2 800 i think on price of sales ratio so it's obviously not valued based on the revenue that bitcoin network is
generating otherwise it wouldn't be valued as highly as it is uh and same is true to eat for an extent i think 8th price to sales is 140x which is not uh you know anywhere near as kind of like high as bitcoins but i think it's just like one piece of evidence that we can point to but obviously eth is used as money a lot more than bitcoin is within the ethereum economy at least probably not outside of it that much but yeah i mean there's no doubt that both of these are money story values i think that's pretty clear the second category pretty much applies to basically everything else so these equity-like tokens that share protocol revenue with token holders uh we don't see many of them be obviously because of regulations and laws and things like that and project kind of like teams being scared to turn
on the fee switch so to speak like obviously the perfect example here is uni where you the unit swap protocol keeps growing keeps generating record revenues but uni token holders are seeing none of that because they're because of kind of like really regulatory concerns and there hasn't been a vote to kind of like turn on that fee switch yet and there are some protocols out there that do have kind of a fee take but you know they don't generate that much fear revenue for the token holders and thus they're not valued as highly as you know as people would like them to be but obviously there is also going to be a notion of kind of like growth potential baked into these price prices and obviously crypto assets are def are kind of like pretty much correlated uh in general so if like btc and ether
going down the rest of them are probably going to be going down more so there are other factors here but i'm talking about long term value accrue and i mean like many many years sort of thing so if you look at all the assets that have done really well over the long term there isn't that many of them it's really 8 btc and a few assets out there but if you measure these assets against usd from maybe they're kind of like bottoms uh of what when they were trading i mean it does depend where you measure it from but if you measure it from the bottom of the kind of like range or you maybe take like a six to 12 month kind of like weighted average of their price over that time and see where they are today well a lot of them haven't uh really
performed against eth or btc i mean pretty much all of them wouldn't perform very well against ethan btc maybe they performed well against usd but i think that it can be discounted a bit because of the fact that whenever btc and each go up it kind of raises the rest of the ecosystem value up as well so it's kind of difficult to measure those sorts of things these days still because of the fact that the crypto market is so inefficient and so correlated with each other but i think it's still a good way to look at things now obviously there are other kind of like ways to drive value to tokens people mention staking as one i think staking for the sake of staking is not going to drive value st and staking just to get inflationary awards uh is not going to drive much value because if the
inflationary rewards are too high that's going to put downward pressure on the price right yes you'll get probably get a lot of farm kind of like tokens locked up and a lot of people staking but it's going to put downward pressure on the price because these people obviously going to want to realize that that kind of like um uh that that stake reward and they have bills to pay and and kind of like taxes to pay and things like that same is true for ethereum don't you know i'm not not trying to say that kind of like um ethereum is different here but there are some protocols out there that have like 15 20 25 kind of like staking yields right that's just insane because you can clearly kind of map that to the inflation of the token and then you can take into account any other tokens that
are coming to market from maybe insiders you know vc's team liquidity mining programs outside of that you know ecosystem reward programs all that sorts of stuff so those are definitely things to consider there when talking about staking but usually when you stake you get a reward in obviously the kind of like inflation of the network token but you also get like the fear of renew so it's the same thing it's like yeah you're getting the share of the fear of when you'd be just kind of like locking up your token to get it it's not enough to hold the token in your wallet you don't get that you have to kind of lock it up to get it whereas there are other schemes like obviously airp 1559 and ethereum where ethics burnt that acts as a pseudo dividend and that's why i said assets that do both of
these things you know become a money store of value and become more equity-like are going to be the most valuable and that's eth really at the end of the day heath does does all of it like atheis is is an amazing asset and i've been through this before on the refill so i won't i won't rehash it again but most of the tokens aren't equity-like at all uh you know they may have those kind of like governance properties that that equity has but it's really a meme like at the end of the day because no one really values these things based on their governance rights maybe long long term they will for the really successful protocols it'll make more sense but these days it really doesn't so long-term value accrual is i think just going to be bucketed into these two things and there are other
things out there that people have tried such as you know the algorithmic stable coin thing where you basically have like this ponzi-esque mechanism that we saw in terror where the better the stable coin does uh you know the better the kind of token does uh and it feeds off of each other right you have like ust and luna feeding off of each other then you have some other things like protocol own liquidity which is basically like a a kind of a share buyback so to speak i mean it is using it for productive purposes so it's buying kind of like the tokens and then providing liquidity for it um or buying kind of like the lp shares we're just buying obviously half the tokens half something else and things like that but again it's very similar to just kind of like uh i guess sharing protocol revenue just in a
roundabout way so i think if you want to look at it from the highest level it's basically these two things a commodity and a security if you want to talk about them in the traditional sense obviously no one no tokens want to be classified as a security which is kind of bizarre to me i think long term most of these tokens being classified as a security is actually a positive i do think securities laws need to be updated um for crypto assets but i don't think they're being labeled a security is a death sentence because think about it some of the largest or most of the largest assets in in kind of like uh uh in the traditional ecos finance ecosystem are securities i mean go look at the stock market it's all securities right and we have some trillion dollar companies in there such as as apple so
something being labeled a security is not a death sentence for it it could actually end up being a boon for it but i think for that to happen there needs to be securities laws uh updated to reflect kind of like the intricacies of crypto assets and the exchanges would also need to be registered to trade securities uh obviously a lot of the exchanges aren't registered to do that uh and there is a lot of red tape around that so that i guess is why they don't want to be registered as securities but there are decentralized exchange alternatives too and there are kind of like different ways to trade these things depending on what you want to do but yeah i kind of like get it there whereas a commodity right is a totally different thing um and i think it's funny because it has the properties of both a
commodity and a security if you're looking at it from a kind of like traditional point of view but i don't think ether is a security uh at all and obviously btsa is in a security but i think btc definitely on the money sov side and much less on the equity-like side because btc holders don't have a share of anything in the network really um because there's no proof of stake and there's also no kind of like fee burn uh and but on top of that as well you also have the fact that sov and moneyness of an asset it's not so much based on fundamental drivers as is based on belief as i said like btc being viewed as a money slash store of value means that it is trading at such a huge multiple of its bit of its kind of like network revenue which means that's
belief like people believe that bitcoin is a good story value is a good money they want to buy it they think it's gonna be worth more in the future obviously there's an element of belief to pretty much all assets but i think it's much more pronounced for a money sov because at the end of the day you know we all know it even the money that is issued by government government governments even fear it's all a faith-based system at the end of the day it is not really kind of like uh you know if if we value something like if i value this kind of like fiat and you value this kind of fear and you'll accept it well it's kind of like exchange for goods and services like that right and and i think the store of value is even is even bigger i mean
there's i mean the reason why gold is worth so much and is considered a story of values because we made it that way like it's pr it's kind of like use within you know the industry and just industrial use would make its market cap much lower than what it is so i think you know as much as i think it's a meme btc and gold are pretty similar in that sense but i think eth transcends that because it has all of those properties but as well also they have the equity like sorry also it has the equity-like properties too so when you put all that together that's why i think that assets that do both of these things will become the most valuable and obviously i'm very very bullish on eighth so that's kind of like my thinking around this maybe you agree with me maybe you don't i'd love
to get your thoughts on this in the youtube comments below or in the discord channel uh you know let me know if you think that i'm i'm stupid for thinking this or if you think it's accurate i'd love to hear from you all right on to the next updates if my mouse wants to work uh so onto an update from optimism today so they've launched a new onboarding flow designed to introduce optimism to new users in an accessible way regarding regardless of their previous experience with crypto after completion you'll be able to claim an nft without reflecting your interests this is really really cool guys like i think optimism has outdone themselves here you can actually see the first page here kind of getting started with optimism and i have three things that uh kind of like um uh uh i guess like three categories here where
you know you can select you're starting your journey so you're completely new to crypto or that you've used centralized exchanges or that you've used other blockchains and now there'll be different steps depending on what you select here so if you're selecting i'm just starting my journey they'll walk you through how to download a wallet how to add optimism to that wallet uh the optimism network to that wallet how to deposit ether into the wall and get your free optimism nft i think this is really cool it's something that's obviously pretty simple and something that doesn't probably apply to to most of us or if not all of us on the refuel but i think it's just really cool that optimism is doing this because as i've said plenty of times guys like it's all well and good to build all this cool technology but we need to make it easier
for people to be onboarded and it's great that optimism is taking the initiative here they didn't have to do this they could just leave this up to the application layer but they're taking it seriously and then and and this is really good for adoption of optimism in general as well so i really really like this um and the nfts are really cool that they've kind of got here as well and you can kind of um use it with rainbow wallet which i'm actually going to talk about in a sec uh not in a sec a little bit later in the refill here um but yeah i mean you can get the kind of like uh i guess full details here in the get started section uh on on the blog but then if you want to see this in action you can basically go to the website with
which is app.optimism.io get started and you can see the different options here well okay mine's not in dark mode i'm going to put a dark mode on there we go so you can go i'm starting my journey and then i've used centralized exchanges uh you know download the wallet all that sort of stuff i've used other blockchains and then you just have to basically add the optimism network so it basically tailors it to to kind of like what skill level or what i guess like familiarity you are with with crypto which i think is very very very cool so kudos optimism for doing this i'm excited to see what else they've got hooking up on the onboarding front as well all right so speaking of upgrading the onboarding process arbitrary has upgraded their bridge page now this page has been notoriously kind of like uh
called out as not being user friendly well they've updated that they now have uh kind of like the albertum bridge here and it's saying that i'm on the wrong network i think it's because i'm on polygon right now let me just change that to ethereum mainnet uh there we go so when you kind of like uh have selected the ethereum main net you'll get like the nice bridge interface here where you can select how much ether you want to bridge into arbitrary one now i have my sassal.ethe address loaded up here so if i was to enter kind of like one eighth and then it'll show me kind of on arbitrary one what i'll be able to get and it'll give you all the details here so you're moving one eighth you'll pay this much in gas phase pretty cheap right now guys if you're thinking about
bridging into layer two it's probably a good good good time to do that and it'll break down like what the our one gas cost is and what the l2 gas cost is obviously bridging into an l2 doesn't cost anything on the l2 but it does on the l1 and you can kind of like click move funds to arbitram uh and that's basically it like very very easy onboarding process which i really really love to see and then there'll be a status page after you've gone through it as you can see on the gif here um that basically says you know probably about 10 minutes till your funds are onboarded into arbitrary one so very very cool to see this i think obviously as i was saying about the optimism thing the more ways and the easier ways we make it for people to be onboarded into these layered twos the
better obviously the easiest way for people and the cheapest way is probably always going to be centralized exchanges but for people who don't want to do that for people who have existing assets on ethereum layer 1 we need to make that as easy as possible as well people obviously want to go back and forth between layer one and layer two i do think that layer one is still gonna persist for a while there are a lot of people that are fine paying the fees even if the fees go up to like fifty dollars a swap or something again i think people are fine paying that because usually when they go up that high it's a bull market and it's kind of like worth it for them so i do think layer 1 is going to persist for quite a while it has such a huge network
effect and making it easy for people to kind of like bridge in and out of it for those who want to do that with layer 2s is going to be very important because layer 2 just because they have cheaper fees doesn't mean they only appeal to people who can't afford the layer 1 fees they also appeal to anyone who wants to use applications on there wants to make money on there wants to get value out of of the products and services on there so having a good bridging experience in now is very very important i think all right so speaking of uh kind of like bridging you uh there's kind of a tweet here from tog rail who is a senior researcher at scroll about connecting about sorry hot protocol enabling support from scroll layer 1 to scroll layer 2 which is really really cool to kind of like
see here so uh if you're wondering why it's called scroll layer 1 toggle kind of mentions this in the replies it's saying it's running on a private fork of ethereum for now hence why the naming so it seems like scroll is kind of making moves here they are i mean i mentioned them a couple of weeks ago about how they have their zkvm kind of like alpha test net i believe um or pre-alpha test net kind of uh out there right now but they're making moves definitely they are going to be i think a big player in the zk ecosystem it's funny because i always see people mentioning obviously a polygon zk sync and uh starkware in the zk race but don't sleep on scroll guys like they really are some of the smartest people in the ecosystem they've just been under the radar and mostly in stealth or i
guess like in in quiet in sudo stealth for a little while now so definitely check them out if you haven't yet checked out the technology that they've got i think you know they're they're maybe it's kind of hard to say like which networks are going to be live on mainnet in in a capacity that devs and users can kind of like get value out of on the zkvm front they're all in a race right now we saw them all kind of like announce those aka vms at the same time in the same week and there was a big discussion last week about that but it's going to be an interesting interesting thing to see like what the race is like because obviously i said to you guys the race isn't just a kind of like a short-term thing it's a long-term thing so even if for example polygon and zk
sync launch before scroll it doesn't really mean anything i think what means the most as i've said lots of times on the refuel is kind of like the marketing the business development the onboarding users the supporting infrastructure all that sorts of stuff um and developers obviously is a big kind of like thing there as well so love to see kind of when this stuff goes live but very cool to see that uh scroll is kind of like working on their bridging and it's i think this is hot protocols interface so i don't know if this is hot protocol uh kind of like helping them with it or they fork top and did something and did this to kind of i guess like uh test out some things on their back end but we'll have to see uh kind of like what happens there but it's cool to see
a little teaser here from scroll today all right so polygon has published their quarter two stats of the polygon pos chain and it actually grew in in the second quarter so you can see here that the pos chain is now home to 5.34 million unique addresses a 12 increase from q1 total q2 transactions increased four percent 200 to 284 million and network revenue was 5.56 million average cost per transaction fell 49 to about 2 cents here uh and then they go into more detail about this very very cool to see this i know the polygon pos chain is kind of like divisive thing amongst people but guys like take it from me i do think when polygon has their mature zk vm out they're going to convert the
pos chain to a zkvm it makes too much sense for them to do it and i think they really really want to do it the pos chain inherently has limits it is kind of like a patchwork it it's good it works it's fine but it is a patchwork kind of solution it is one of those kind of like bridging short-term solutions until we had more mature like zkvms and stuff like that out there so when you when i'm seeing these stats i think it's really cool because if polygon which i think they can do this but if they can basically get to a point where they're like okay well we're ready to to basically turn the pos chain into a zkvm and we're going to be able to do it without erasing any history without um kind of like interrupting the user flow without interrupting anything sort
of like how the merge is being done for ethereum if they can do that that is insane because that basically means that the pos chain goes from being a kind of like more or less a standalone chain right to a full layer 2 zk vm on ethereum with all of the network effect that it has accrued as the pos chain so this is what i've been talking about in the past about how these layer ones these other networks these side chains could all these standalone networks could in theory uh kind of like change over to a rollup or whether it be a zkvm or an optimistic role or something like that and in doing so they bring all of their network effect they bring all of their kind of like users and developers and all the activity and all the apps and everything with them which can't be said
for new ecosystems that are spun up new ecosystems are fine i have nothing wrong with that i'm very bullish on those too because they can very quickly be spun up these days but in the in kind of like in the meantime uh these other networks can kind of like gain a system a kind of like traction game network effect and then be converted into a layer two into a roll-up which i think is incredibly bullish so good to see the polygon post chain growing i'm definitely eager for the day that the post train gets converted to a zkvm probably won't happen anytime soon just because obviously they'd probably want to release their zkvm first on mainnet and then let it bake for a while and see kind of like how it plays out and then convert the pos chain over eventually here all right so i mentioned rainbow before
uh which is the mobile wallet app that i've talked about on the refuel uh plenty of times now so they announced today that they now support nfts on mainnet so ethereum mainnet the polygon pos chain arbitrary and optimism optimism so you can see here the interface of kind of like seeing your nft collectibles inside rainbow wallet i think they've teased this for a little while now and i think they've covered the teaser but very very cool to to kind of like see this supported here and as i said before optimism it kind of like showcased this here uh you can get on they're kind of like um their own nft in the rainbow wallet which is very cool to see but if you are a rainbow wallet user you can now basically uh view your nfts there if you're an nft collector as well even if you aren't enough to nft
collector like i don't consider myself an nft collector but i have a lot of nfts on saswell.ethe which i really kind of like treasure and i and i think are really cool especially things like the eip159 nft obviously and the daily anniversary nft so being able to kind of like just see them at a glance in a in a well like rainbow is very very cool obviously zappa released their v2 last week which has a heavy focus on nfts as well so i look at them in there but i think you know this is the magic of ethereum we don't just see our kind of like eath and tokens and we see our default positions we see our nfts we see dao related things like you know governance forums and stuff like that and voting and and all those sorts of things and we see web
3 related stuff too with lens protocol like your ethereum wallet is not just a place to store your ethan tokens it's just it really is a passport into the entire ethereum network which is obviously much more than and then kind of like just kind of holding tokens right holding each like which is obviously the ball case for ethereum right something that we all get excited about but very cool to see rainbow supporting nftcr uh definitely check it out if you're a rainbow user all right so amira has introduced web3 subscriptions today so what web3 subscriptions are is basically a way for people to subscribe to any mirror a publication with their wallets and then you can receive an email when new content is posted so they go on to say mirror has always been a place for web3
creators to publish and make announcements but until now there hasn't been an easy way for communities to stay engaged through notifications mirror takes subscriptions a step further by centering them around a web free wallet rather than email address web3 subscriptions open the door to building a wallet-based community that can be used across web 3. as i was just saying about how an ethereum wallet is more than just something to hold tokens in this also falls into it where you can subscribe to people's kind of like publications using your wallet and then have an email address attached to it and then get the kind of like updates sent to your email i believe this is also privacy preserving as well which is very very cool so there's also a bunch of other things like identity related stuff that fall into this but this is awesome something
that i've been waiting for for quite a while because i want to start kind of like publishing the daily way on uh mirror as well as sub stack because i currently publish the newsletter on just sub stack because they had a way for people to subscribe to it whereas mira didn't well now mira does so i can basically do kind of um posting on uh mira and on sub stack which was just brought in the reach of the newsletter and maybe one day just kind of like move away from substance altogether and just use mirror so very very cool to see this if you're a content creator whether it be kind of like writing blog posts or you create content for a project that you're working on or anything like that you should definitely check out web3 subscriptions i think it's very very cool and i think it's a very unique use
case of uh of web 3 and something that it's uniquely enabled by having an ethereum wallet like people always say oh web3 whatever like there's no real use cases it doesn't really have a advantage over the current web to ecosystem well i think this is one of the big advantages being able to basically kind of like subscribe to publications with your wallet and then in these publications there are also embedded things like nfts that you can just do from all from the one tool which i think is very very cool so definitely check out this announcement for further details here i'll link it in the youtube description below all right to finish up today's episode i wanted to talk about a thread here from vance spencer where he basically said webassembly is the future it's written in javascript it's written in rust
subnets of the future it's written in move scaling via hardware libra data availability it's the settlement layer it's modular it's written in move it's monolithic power chains app chains and basically what he's poking fun out here is all the buzz words that people in crypto talk about all the time and he continues this thread and basically has a couple of tweets here which i really liked where he says what i actually care about is if you aren't ethereum how good is your business development team right so really at the end of the day this is exactly what i've been saying for so long like all these buzzwords all this stuff it doesn't matter like no one outside of the crypto natives which is a very very very very very small percentage of the population cares about this sort of stuff it's good to care about the tech and build the best tech
but at the end of the day the best tech is not what wins right what wins is what as vance said the things with the best business development and marketing because ethereum the network is objectively not the best tech there are there is kind of like much better tech out there at the end of the day but ethereum has all the network effects ethereum has a bustling layer two ecosystem that is handling all the business development and marketing on that front ethereum has a really really strong community that does a lot of marketing as well so you know there's all those kind of like things that play into it and these other things that we all talk about like settlement layer data availability roll-ups all that sorts of stuff that's for the in crypto crowd that is not for the mainstream and at the end of the day
even within the in crypto crowd none of this really matters like you know i remember last year people were kind of like shilling solana being like oh my god you know solana has rust as rust supports people can write their smart contracts in rust it's so much better than solidity on ethereum it's amazing blah blah blah now i don't really hear that anymore and now i'm starting to hear people go on about this move language that was created by facebook's dm project and this kind of like these new networks like aptos and sui and it's the same kind of like thing as last year it's just a different network and a different language people saying oh my god move's amazing it's better than solidity it's you know aptos is better than ethereum blah blah it's time and time again this is obviously it's not just solar and aptos it's
so many of these other kind of like networks out there like at the end of the day most of these networks most of these other layer ones are completely useless um there are certain ones that are literally just being made to extract money out of the ecosystem a lot of the vcs that get involved with them are seriously just trying to extract value out of them they don't actually care about anything except making money and kind of like pushing a narrative they probably know deep down that these networks aren't going to have any long-term sustainability but they do it anyway because there's money to be made there's a lot of money to be made i mean look at layer one season the second half of last year anyone that exited that you know anywhere near the top and that was kind of like got in early as a vc or
something made a lot of money from that and there were a few vcs in funds especially that kind of like exited around there and made a lot of money potentially billions of dollars which is just crazy to think about because all of that money came from speculators and retail investors and at the end of the day these ecosystems seem to be getting abandoned at least most of them are um which is you know again as i said like just extractive and crazy but i think just vance put it really well here at the end of the day everyone talks about these kind of like tech things everyone tries to pump up an ecosystem by talking about them but it's not about that i i think he's right in saying it's mostly about business development and marketing but i also think it's about having a strong
long-term oriented social layer a strong community that obviously creates that social layer and i spoke about this yesterday or the day before about social decentralization and our ethereum obviously is very strong i think bitcoin has has a strength there too um there's not really any other networks that i can point to that have that and you can you can see that reflected in both the ecosystem and in the market price and when you think about it like that i think it's very easy to see why a lot of the people that have been in this ecosystem for a while just scoff at all of these sorts of things they scoff at new networks because we've been here before we've seen this play out before we're tired of it like honestly guys i am so tired of new layer ones like we don't need them i'm not just saying this because i think
ethereum has already won i just i'm saying this because there's been so many attempts at this in the past and you know there's very very few if any other layer ones besides ethereum and bitcoin that actually look like they're going to have long-term value like could you point to anything except ethereum and bitcoin and say that you're confident that it's going to be relevant in 10 years it'll probably still be around in some fashion but could you say that it's going to be relevant in 10 years i can't point to anything else even in some of the most hyped up things today i can't confidently point to them and say i think this thing is going to be relevant in 10 years as i said i think they'll be around uh because there's still money to be made but relevancy i don't think so and
you know if if you go out more than 10 years right you can kind of like start to see that even if like it just depends like ethereum and bitcoin are relevant today but in 10 years like we'll we'll see what happens like obviously i believe that ethereum bitcoin have full kind of like confidence that they'll be around but some people don't um so you know ten years is a lifetime in crypto ten years ago in crypto was 2012 guys even before the the first big bubble of bitcoin in 2013 with the whole silk road thing 2012 was literally i think people just buying btc to use it on silk road really um so and a lot has changed since then right i mean the whole ecosystem has changed completely it's it's un i mean if someone from 2012 time traveled to 2022 they wouldn't even know what to think of
today's crypto ecosystem so imagine what crypto is going to be like in 2032. like it's impossible there is no way to predict it but i have confidence and i personally believe that in 10 years ethereum and bitcoin will still be relevant but uh very relevant probably more relevant than ever but i don't and i can't say the same thing for anything else out there and that's that's just my view on things um i think we're gonna have to see how it all plays out maybe i'll kind of like think back to this refuel in 10 years and be like oh well let's see what's relevant maybe ethereum's not relevant i don't know no i don't think that maybe um i think it's definitely going to be relevant but it's kind of like funny when you think about it from that perspective and you kind of like take
the decade view instead of maybe the the week to week or month to month or even maybe year to year view once you start looking out much longer term like 10 plus years you start to see some different kind of like patterns emerge there but yeah anyway i think that's going to be it for today's episode so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give it a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone