Ropsten beacon chain live, Dai on StarkNet & more - The Daily Gwei Refuel #375 - Ethereum Updates

31 May 2022 · 29:38

Anthony Sassano recaps Ethereum news from 31 May 2022, led by the launch of the Ropsten beacon chain ahead of that testnet's merge, expected around 8 June. He argues the merge is not priced in while people still believe three claims he calls false: that it cuts layer 1 gas fees, that staked ETH unlocks at the merge, and that running a full node needs 32 ETH. He also discusses liquid staking derivatives such as Lido, saying firm judgments should wait until withdrawals are enabled, and notes that layer 2s may inherit Ethereum security yet still carry risks like upgradeable multisigs. Other items include Dai going live on StarkNet, an MEV explorer, Dune Engine v2, and a warning against reading short price rallies as a returning bull market.

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hello everyone and welcome to another episode of the delegate refuel where recap the latest news and ethereum ecosystem i'm your host anthony cesano and today's the 31st of may 2022 all right everyone let's get into it so the roxton beacon chain is now alive i remember i mentioned this to you guys that robstone is going through the merge transition on june 8th obviously and it needs a beacon chain in order to do that so that is now live you can see here parathonch tweeted out that the you know we finalized as expected and the chain is chugging along till the unannounced ttz or total terminal difficulty here so you can join the train if you want and practice running your nodes uh by following this guide here which of course i'll link in the youtube description below but yeah guys like the wheels are turning here it's happening

things are things are in motion for robston right now you can see terence as well tweeted out how that kind of went live too and you can see there's kind of like a robston block explorer that beacon chain has set up here as well so if you want to go check out all of the stats around that you can um and then tim baiko posted the official kind of robston merge announcement which has all the details in it as well uh so if you he said ethereum's longest lived proof of work test and that is moving to proof of stake a new beacon chain has been launched today and the merging is expected around june 8th on the network so if you go to this guide you'll be able to kind of check out everything all the details got to do with that which is

very very exciting very very cool and today uh by the time you've watched this it may or may not have happened but we're having uh main net shadow fork six go through as i mentioned yesterday i don't expect there to be any surprises with main net shadow fork six i don't expect there to be any surprises with the robston uh merge but as always there are things that can happen we don't know right we don't know you know if there's gonna be any bugs found or anything like that hopefully not like we've done so many shadow forks at this point and they've gone through kind of um you know pretty much perfectly that i i'd be shocked if there was a kind of like major bug on these public test nets or anything like that given that uh as far as i can tell nothing has substantially changed

between the shadow forks and the um the public test nets i believe shadow fork five and six are going to be using the same config or near the same config as the robston kind of like merge will so yeah due to that uh there shouldn't really be any kind of major bugs but we'll have to see obviously the robstone uh network is a public test net it is uh the longest running uh uh public uh proof of work test net as as tim says here so yeah there might be some things that we haven't accounted for i know that during testing there were some things that people didn't account for such as things around gas limits and stuff like that so that was a that was a bit of a funny thing to um to see uh and that came out of it that was that was kind of like the edge cases

that people don't really think of uh when you kind of like going through this that's why we do testing right that's why we do so much testing there has never been as much testing before as there has been for the kind of like merge i think second to the merge would probably be when the beacon chain was launched i would say uh but yeah other than that i wouldn't know what would come after that but yeah essentially like uh the merge has gone through enough testing now at this point that once we've run through and do all the public test nets the main net i mean should happen like there's no reason for mainnet not to happen after the public testers especially i mean if the public test nets all go completely well if no nothing bad happens if there's no major bugs or anything like that then as i said guys

like i feel like we could have the merge in late august yeah even with the difficulty bomb delay uh going ahead uh but then you also have kind of like uh you know any coordination issues maybe the cortez feel like they need to give ecosystem players more time and stuff like that then you could have it happening in early september but it's it's so close guys like it's it's really not that far away and i don't think like a couple weeks here and there are really gonna make or break uh anything at this point in time right so so yeah anyway those are the kind of merge updates uh for today there uh and i also kind of like put out a tweet oh here's me tweeting about the shadow fork six happening but i also put out a tweet about whether the merge is priced in or not now as we get

closer to the merge this is going to become more and more of a topic of conversation i think and i've spoken about it a bunch on the refuel but i did want to go through it again today and i kind of put out this tweet where i said how can the merge be priced in when people still believe that it reduces layer 1 gas fees all staked eighth becomes unlocked at the merge 32 is required to run a full node in a proof-of-stake world all these points are completely false ergo the merge is not priced in so not only are these points completely false they're also dangerous to be spread because it basically sets expectations for certain things right so the first point reduces layer 1 gas phase it sets expectations that when ethereum transitions to proof of stake automatically the layer one gas

fees are going to collapse and users will be able to do you know transactions on ethereum layer one for i don't know a few cents or something like that that's not happening guys like if you want to get really technical here because the block times go from 13 seconds to 12 seconds there is technically an eight percent increase in capacity on the chain but users aren't going to feel that like eight percent is nothing like guay can go from 10 to 30 in like uh you know one block right just depends what's happening on the network so users are not going to feel an eight percent difference right so you know 10 to 30 to triple like 300 percent then users aren't going to feel an 8 difference there um but kind of like in in saying that uh i think that what i've been trying to get through to

people is the merge sets the groundwork for these sorts of things and you can already use uh for four gas fees being reduced at layer twos and you can already use these layer twos today like you can use like so many of them if you had told me like a couple of years ago that we would have as many layer 2s uh usable and live with apps on them as we do today i would have not believed you that that's how far the layout twicker system has come in a couple of years so obviously as an ecosystem we need to keep pushing people to layer two and and basically explaining to them hey this is where you're gonna use the apps from now on don't rely on layer one ethereum to to get kind of like get cheap just be on layer two and and kind

of like you'll be fine but also making sure that they understand the risks as well there was a bit of discussion in the discord channel actually i think yesterday or the day before around layer two risks and people kind of like getting the wrong idea when i say that layer two's uh inherit ethereum security uh i've explained this before but just the tldr here is that just because layer twos can inherit theorem security uh doesn't mean that they haven't got other centralized points of failure or haven't got other insecure parts like for example uh there's you know with layer two networks like optimistic rollups they require things like fraud proofs to function correctly uh and a lot of these layer twos have multisigs and and those multiseasons can upgrade the network which potentially could lead to loss of funds and stuff like that so i

think that people need to realize that the layout twos that obviously they're still early they still have training wheels on um and just because they inherit ethereum security doesn't mean that there aren't other vectors that can be used to do some funny business right or something can happen and at the end of the day you could have a major bug in one of these layer twos um and just because it inherits ethereum security doesn't mean anything like smart contracts built on top of ethereum layer one inherit ethereum security but that doesn't mean those smart contracts are secure against like bugs that doesn't mean those smart contracts are as secure as ethereum uh the the kind of like protocol code running ethereum so good to keep that in mind because at the end of the day the layer twos are just smart contracts on on layer one right

like the the um the bridge contract the one that handles all the logic of bridging in and out and and handles the logic of um of kind of like settling balances and proofs and stuff like that and cool data all that sorts of stuff is on layer one ethereum right so it's their smart contracts on layer one ethereum so i think when when talking and thinking about security of layer twos yes they inherit ethereum security but there are so many other ways that that can they can have kind of like um centralized points of failure or kind of like security issues as well so l2beat.com does a really great job of breaking all this down it does get a bit technical but if you're interested in learning more i highly recommend checking out that website it's got a bunch of information there all right the second point here all

staked eat becomes unlocked at the merge this for some reason i don't know where people are getting this information but this is like completely wrong right there is no eth zero nada nothing being unlocked at the merge from the beacon chain nothing no uh uh none of the 328 that was put in initially none of the rewards the only thing that is going to be uh rewarded two stakers until withdrawals are enabled at least six months after the merge is the fees so the fees and and kind of like mav related stuff which is basically fees that uh stakers generate are going to be able to be basically uh transferred withdrawn whatever you want to call it but the staked and the rewards that have accrued

uh since december 2020 since the beginning chain went live cannot be withdrawn until uh at least six months after the merge as part of the shanghai update now in saying that there's only a certain amount of heat that can be withdrawn per day because we have the validator churn uh kind of um a mechanism where only a certain number of validators can enter and exit the beacon chain per day and that dictates how many much it can be unlocked uh per day as well so it's not like once withdrawals are enabled there's going to be uh uh about 10 11 whatever whatever uh amount of eight you staked right now so like that's all gonna flood the market that's not how it works like think about that logically for a sec that would wouldn't even make sense from a a proof of stake design perspective that would mean that

you'd automatically lose all your stake as if everyone could just withdraw right and the network wouldn't be able to essentially recover from that and wouldn't be able to kind of like normalize for that so yeah completely false it's so stupid that it just boggles my mind but you know that it is what it is and then this third one that i'm seeing pop up recently which again i don't know where people are getting this from but people think that you need 32 eth to run a full node in a proof-of-stake world no you don't you only need 32 eth in order to become a validator on the network so the way it works is that post merge there's going to be an execution layer node that you run geth nethermine base or whatever there's going to be a consensus layer node that you run uh which is called a beacon node

that is going to be uh prism lighthouse whatever else right and then there is a validator that you can optionally run which requires a 32 eighth minimum in order to run your own solo stacked validator and again that can be like a prism or a lighthouse or whatever but you do not need to run a validator in order to validate the network via a full node you can run the beacon node you can run the execution layer node as i just mentioned what those were and you will be able to validate the network so i don't know where that is coming from that people think that you need 32 ether it's like telling someone that they need to they need a a minor they need to be mining in order to validate the bitcoin network in order to run a full node no that's completely

wrong you run a bitcoin full node and you can validate the whole network um and then you can optionally set up miners and and mine using that full node right just like you can set up a validator and proof of stake world and use your beacon node and and kind of like um uh validate off that so yeah just wanted to kind of explain all that for you guys i know some of you or probably hopefully most of you know this by now but for whoever doesn't i just wanted to run through that again because you're gonna see more and more of this stuff as we get closer to the merge as i've discussed before people are just going to fudd right at the end of the day like it's already started like the past couple of months there's been tons of fud uh kind of like aimed at ethereum

around the merge around proof of stake and i remember saying a while ago that um people like the bitcoin maximalists who have been saying that ethereum is never going to transition to proof of stake they're going to pivot from that and move the goal post when they realize that it's actually happening right proof of stake is actually going to happen and then they're going to pivot and they're going to focus on proof of stake as as kind of like weak or weaker than proof of work and they're going to focus on the uh the perceived issues with it and all that sort of stuff and they are doing that right you have people like lynn alden talking about it all the time nick carter talks about like not not people not people that i would consider like toxic bitcoin maximalist but people that are like high up in the

bitcoin community and that have large followings they are talking about all this stuff and and and the thing is is that um you know a lot of a lot of the bitcoin is i don't know if nick or lynn believed this but a lot of the bitcoiners especially the maximalist never thought proof of stake was going to come and it's going to come it's it's literally just it's there like we can see the light into the tunnel and the fight is going to increase so just keep that in mind these bad narratives are going to spread but as long as you watch the refuel you're not going to get caught up in them that's for sure all right so speaking of risks around proof of stake one legitimate risk and something that's been talked about a lot uh recently are the risks of lsd as

danny ryan calls it here which is liquid staking derivatives aka things like lido so there's a blog post that danny ryan published today around this you can go give this a read i'm not gonna i'm not gonna go through this i do want to do uh something uh around kind of like lido uh and kind of like liquid staking derivatives and talking through all the kind of like stuff got to do with that and why it's good why it's bad why it's happened blah blah blah but the number one thing i do want to say is that i think at this point in time i've said it before and i'll say it again we can't make any major judgments on how the beacon chain will look in its steady state because of the fact that it's currently a one-way bridge now let me explain what i mean by

that later has what 32-33 percent of the the staked eighth right now that run through its system now that can't go down until withdrawals are enabled even if people sell their st eth for eight using one of the liquidity pools that doesn't mean that uh eth gets withdrawn from the beacon chain like it can't because withdrawal enabled so lido and any other staking provider i'm not just picking on light over here it's up only like you cannot withdraw so in saying that there's no way for the uh for kind of like lido to lose uh the amount of either they've gotten staked actually sorry there's no um way for them to do it uh for users to withdraw so that can't happen that way the only way it could happen before withdrawals are enabled is if they get slashed and

kicks that kicked out of the validator set right which is very very unlikely to happen and technically the eighth would still be staked with lido in that case once withdrawal was unable they could they could rerun their validator and kind of like start it up again but that's the only way right there's no way for a user to withdraw from uh i mean there's no way for lydo to withdraw eth from themselves a user can exit via the st um liquidity pools but they can't actually use that as teeth to claim the eat on the beacon chain because withdrawal is unenabled so given those facts wouldn't it be better to wait until withdrawals are enabled to not i mean to to kind of like have any strong opinions on this sort of stuff like i get people saying you know we should we should kind of like move away

from lighter we should be using other staking derivatives taking providers and i'm all for that like i promote them all the time i talk about rocketpool all the time and i want people to be doing that but i think that people are getting carried away and kind of like sometimes acting like the sky is falling when we don't have a way to at lea to reduce kind of like the dominance of these things yet once we are in a kind of like uh post-withdrawal world once we uh kind of like go through what i'm calling you know the great reshuffling of of steak which i think will happen when withdrawals are enabled then and only then will we be able to have a and i i reckon it's going to take six months to 12 months after that then only then we'll be we will be able

to have a better picture of what it's going to look like in saying all of that as i said i'm all for fighting for getting dominance away from these providers you know even though we haven't got like that two-way bridge it's only kind of like a one-way bridge right now i all for people being encouraged to go use other services rather than lighter such as rock or pool uh such as um you know steakwise and swell and any other service doesn't matter if it's centralized or decentralized as long as it's not the dominant one and that's totally fine obviously i'm a big champion for that i was a big champion for client diversity still am and we're able to fix that but the reason why we were able to fix client diversity uh so quickly or at least a major reason is because you can

change the client that you're using could you imagine if you couldn't change the validator that you were using um without having to withdraw your stake and then re-enter that means you wouldn't be able to do it until withdrawals were enabled that's pretty much what's happening here with these kind of like uh stake staking service providers there cannot be a reshuffling of stake because there's no ability to do that so use the other services you know don't use kind of like lido if you care about uh making sure that they don't continue their dominance and also lighter inflows have slowed down dramatically uh for two major reasons uh reasons um recently anyway the st peg is still not back at peg i explained yesterday uh that you know people entering lido through kind of like the lighter contracts right now would be taking an instant haircut of

two to two to three percent with further haircut risk down the line um if they hold on to that st and the d-pegs even further yes once withdrawals are enabled they could uh kind of like close that loop and basically withdraw their eighth from the beacon chain using that st but right now it doesn't make sense to do that it makes sense to buy the st on the market if you're making that trade um and also in saying that there is no way to close that up until withdrawals are enabled so that's another reason why we see these sorts of things playing out too so and also the demand for leveraged each staking has obviously gone down as the eth price went down and people were closing positions and all that stuff there so those are my general thoughts but i definitely want to have a deeper

conversation about this and i'm thinking of bringing someone on i'm not going to spoil who but i'm gonna bring someone on to discuss all of this with me on uh for a daily great drive three episode in the near future so stay tuned for that um i the person i have in mind is is very awesome and i think you're all gonna love them but i'm not gonna spoil it for you for you just yet uh but anyway i'm gonna move on from this definitely go read danny ryan's blog post here around the risks uh he articulates it quite well um and goes into more detail than i have all right so a maker is now on stark net the stark net die bridge is live on startgate.stocknet.io this is the official make implementation that enables dye transfers between starknet and ethereum this is really really cool

i love this i mean as i said to you guys starknet is like i don't know if i'd call it the dark horse of ethereum scaling right now but they're very different to your typical kind of like scan right because of the fact that they're not evm compatible things have to be built from the ground up there's going to be different things built on it there's going to be a different ecosystem formed around it and i think it's going to be distinctly different to an optimistic rap which i think is really really cool but good to see that that die is live there obviously with the kind of like uh i i guess like recent terror implosion people are still looking for decentralized stable coins still want to use the centralized stable coins and obviously die has its issues it's still backed by partially by usdc

and things like that that's totally fine but i think that you know i i still have faith over the long term that die can be you know a good decentralized stable coin it can get back to being better than you get back to being kind of like a majority um or other decentralized collateral rather than usdc so i'm always all for promoting dye and at the end of the day like maker's an amazing product i use it all the time uh sorry not all the time i use it whenever i want to basically borrow against my eat that's the only service that i that i use because i mean two main reasons actually one well actually okay one of the major reasons is the one hour oracle delay so for those of you who don't know how this works essentially with maker you get

you're gonna you have a liquidation price that you set sale liquidation price is like fifteen hundred dollars right you put your ether in and if eight drops to fifteen hundred dollars you get liquidated after you borrowed some die now the the thing is that there's a one-hour oracle delay meaning that if the ether price drops to fifteen hundred dollars on say like a wick for like maybe ten seconds twenty seconds you're not going to get liquidated because the oracle only updates once an hour so in that and in that case it saves you against things like wix and and like weeks basically being liquidation cascades from kind of like centralized exchanges and stuff like that and it protects you more then the second major reason is that mako is one of the most battle tested protocols on ethereum it's been audited at the wazoo it's been formally verified

so much security that's baked into it so it's really the only one that i trust and there's actually a third kind of like thing and this relates to the oracle the reason why maker is able to have a one hour oracle delay and the other platforms like rv and compound aren't uh has to do with the fact that when you kind of like borrow die from maker you're actually generating new dye and borrowing it from the maker protocol itself uh you're not borrowing it from another a liquidity pool that someone else has kind of like supply diene which is how rv and compound and other other kind of like um money markets work and that uniquely enables maker to be able to have that oracle delay which makes your position even safer against liquidation there but again whenever i borrow diet it's not me leverage trading guys like if i'm

borrowing diet to do something it's it's it's never leveraged trading it's kind of like purchasing something or maybe making an investment uh in something and then paying it back later because i just didn't want to sell some crypto but it's not me leveraging up on ethan trying to like day trade no i don't do that and that you guys know my views on leverage i'm not going to rehash that there but cool to see that maker is uh oh sorry that die is live on stock net here all right so temer here has introduced an mev explorer tool which he's saying is the easiest way to start discovering mav on the blockchain so mov explorer works as a front end for mav inspect js so it has support for arbitrage and liquidations across ethereum polygon and arbitrarium among other things it's

great for exploring arbs with balance of the two internal arms which are invisible on ether scan and not cat are not caught by flashbots explorer either uh so you can basically see what you can put in here you can put in transaction has hashes and it'll kind of like populate with results so let's just take for an example this transaction house uh that timer has kind of like put here oop i'm gonna copy that in let's paste it in here and inspect what comes out now hopefully this doesn't take too long to do i haven't tested this just yet uh or maybe it's broken no it's going it's just it's frozen now there you go okay and you can see kind of like uh the arbitrage just started mountain end amount like what happened basically during this transaction which is really really cool to see there are other mev

explorers out there but i thought this is really cool because i think this is this is quite unique so if you're interested in exploring kind of like mev transactions definitely give this a a a a look here i think it's a great tool so zigzag has introduced zigzag labs today so zigzag labs is basically uh i guess like a um a collective to build infrastructure uh to build an infrastructure of protocols that supports the upcoming trend of zk roll ups now those of you who have listened to the refill for a while know that i'm a big fan of zigzag exchange it's one of the only exchanges or the only exchange live on zk sync right now so it's really easy for when you get get coin donations via zk sync to cash out and then withdraw there but zig za zig zab lab zig zag

labs is going to be where vital projects for the zk ecosystem get manufactured with the coordination of a wide range of developers designers researchers and other contributors so basically it's a think tank slash kind of like research tag slash development hub where people can kind of work with zk roll ups work together and basically create uh great applications on top of zk roll up cl so if this sounds like you if you're a developer if you want to get involved with this sort of stuff uh definitely check out zig zag labs that's just basically why i wanted to talk about i wanted to give it a shout out to them here because they're building a lot of cool stuff like zigzag exchange and a bunch of other tools like floor sweep so definitely go check them out if you haven't yet all right so dude analytics has

announced dune engine v2 which is a complete overhaul of their entire data architecture and a massive performance upgrade so if you are a dune wizard if you write dune queries if you do anything with doon well this would be music to your ears a faster more kind of like more efficient and easier to use and more i guess like a a kind of feature-rich version of of doom here so you can check out this blog post for kind of like the details of what um v2 does basically lands the lays the foundation for a range of new experiences uh more speed and efficiency as i said uh and kind of like more performance and scalability so very cool to see this from from dude analytics here i love dune i mean i've been using dune for a very very long time i should

disclose that i'm a seed investor in doom just just get that out there but i've been using dunes since basically they were uh you know since day one essentially i love the dashboards i love keeping track of things love following people like hill dobby who i've um who i've mentioned on the reef a bunch of times who make really great dashboards just a really great tool to keep up with things and metrics and kind of dive deeper into various protocols projects you name it so congrats to them on the release or the announcement of our dune engine v2 here all right so just finally here we have a wrap-up post from devconnect uh basically wrapping up the event in amsterdam and kind of looking ahead here the next event is going to be uh devcon in in bogota here which is going to be happening in october uh but then after

that i'm sure or maybe even before that they're going to announce where the next dev connect will take place now my kind of like feel for dev connect is that i wanted to take place in a really cool different city each year if they do one a year i wanted to like obviously there was one in kind of like the first one was in amsterdam but i would love for them to kind of like travel the world and visit different cities i would love to them not to not just do europe like europe's cool but i would love for them to do city cities all around the world and i think that that's what that's their aim essentially they want to find really cool venues really cool sports for people to kind of like hang out for a week enjoy the scenery enjoy kind of

like you know holiday slash conference and enjoy a hackathon at the hackathon as well so looking forward to seeing what they announced next year but i mean you guys know i went to obviously went to amsterdam had like a blast had a really really fun time and i'm not sure what other conferences i'm going to go to i really want to get out to bogota for devcon uh i'm still on the fence um we're gonna have to see how it goes but i don't know what else i'm gonna get out to i i in july i have uh i was actually going to probably attend uh uh some things in july but i don't think i will now because my birthday's in july i'm turning 30. so it's i'm gonna be having like a a big party and a bunch of kind of like things going around that uh

but also i have a bunch of other events happening in in july as well i actually have my 10 year high school reunion in in july as well because it was supposed to happen um in 2020 but obviously covert uh came and kind of like locked everyone down uh uh here in melbourne so it didn't happen there but yeah ten-year high school reunion that was kind of fun anyway i'm rambling here don't know what events i'm gonna get to next uh especially because travel tends to be brutal uh from where i am but we'll have to see like i'm looking forward to more virtual events as well see what what kind of like shakes out there and hopefully judging some eighth global online hackathons too i love i love judging those things so maybe you'll see me around with those with those there but anyway i can't wait to see where dev

dev connect will end up next hopefully it's in another really really cool city because i really enjoyed amsterdam um i have a few minutes left here one last thing i wanted to talk about again i like doing this at the end of the refuels when i have some time left because just it kind of gets through what i'm thinking during i guess like the day the n not to talk specifically too much about the markets but what i do want to mention about it is that i think what happens sometimes is that people see positive price action after you know a few weeks maybe a couple months of negative price action and start getting really excited and start feeling like the bull market's back guys like i hate to break it to you but just because the price went up a bit after going down a lot doesn't mean the

bull market's back i encourage you to go look at 2019. go look at the eighth chart in 2019. don't look at the rest of the year just just kind of like go on trading view set the chart the 2019 only and look at what eth did during that year look at and and maybe look at the daily chart or something like that look at how it pumped then sold down pumped a lot still sold down pumped from 100 bucks to 360 bucks still sold down back to 130 dollars i and the reason why i encourage you to do this is because it will give you the context around why i say that you can't trust these kind of like pumps after this negative price action you can't just kind of say oh we had two months of negative price action and now the price is he's going up a little bit it's time

for a bull market again no and you guys know i'm obviously very very bullish on 8th but i just want to not that i can tell what's going to happen in the future but i just want to warn against people getting their hopes up because i did that in 2019 you know i did that a lot actually i got my hopes up every time it went up every time i started going i was like oh yes finally the bull market's back and i was i was very very excited for it back then because i hadn't made it yet like i hadn't i hadn't made no money from crypto yet and obviously heath going up uh meant a lot like meant a ton to me at that time because i was like holy like i'm actually you know gonna make i'm gonna make a decent amount of money from this i'm actually

gonna increase my wealth from this i was really excited about it at the time right and then seeing it go from the low of 80 bucks to 316 mid-2019 then back to 130 right it it it's a mind killer like if you don't have discipline if you're i mean i didn't trade or anything but like it really drives you down it's mentally taxing so to to offset that in 2019 what i did was i focused on things like ether right like i focused on my work at set protocol i focused on keeping up with ethereum fundamentals i know i sound like a broken record when i say this but guys like these types of markets are the best time to do all that learn learn learn build if you're a builder do whatever you you know you needs to be done on the fundamental side of things

and on the non-market side of things and please please please don't get your hopes up about positive price action um you know just be just because it we had like a bunch of negative price action and you're celebrating like a little move up that is the mind killer i'm sure some of you have felt this already but i just wanted to kind of like pass on that wisdom there it's not investment advice it's just wisdom it's just what i've learned in my time in crypto and it might save you some kind of like mental mental stress down the line uh but anyway i'm gonna end it there for today so thank you everyone for listening and watching be sure to subscribe to the channel if you haven't yet we're almost at 20k subscribers so please do subscribe if you enjoy the content i do this every day obviously um but yeah

give that video a thumbs up as well subscribe to the newsletter join the discord channel and i'll catch you all tomorrow thanks everyone