SEC hits Uniswap Labs, IMX mint/trade open for all - The Daily Gwei Refuel #201 - Ethereum Updates

3 Sept 2021 · 28:27

Anthony Sassano recaps Ethereum news from 3 September 2021, starting with a celebrity's first ETH purchase and his view that traditional market top signals no longer work, since signs of froth now look like signs of adoption. He reads the SEC probe of Uniswap Labs as an information request rather than a criminal case, notes that the Uniswap smart contracts are unaffected, and argues the regulator should chase scams instead. He also covers the Prater testnet's upgrade to Altair, Immutable X opening gas-free NFT minting and trading to everyone, and why he sees Loot, in which he discloses holding a bag, as a turning point for NFTs, before suggesting ETH has become the safe haven where traders take profits.

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hello everyone and welcome to another episode of the daily gray refuel where recap the latest news in the ethereum ecosystem i'm your host anthony sosano and today's the 3rd of september 2021 all right everyone let's get into it so before we get into the news from the last 24 hours just wanted to give a quick shout out here that i did another live stream with david hoffman of bankless uh would have been yesterday for a lot of you so if you haven't kind of like watched that yet definitely go check it out i'll link it in the youtube description uh we spoke a lot about kind of like the recent nft mania especially around something called loot which i kind of covered in the refill a couple days ago but i'm going to talk a little bit more about today in a little bit um

but yeah just a casual conversation for about an hour no real agenda and you if you've watched one of our live streams before you know what they're about but if you're interested in going and kind of like um watching that of course it'll be linked in youtube description for you to see all right so um reese witherspoon uh famous actress here today tweeted out just bought my first eighth let's do this hashtag crypto twitter now this was um kind of like the topic of today's daily grade newsletter uh and essentially the topic was top signals so whenever a celebrity kind of like tweets about crypto or says something positive about it especially one that's just got like nothing to do with crypto they never said anything about it before and it's kind of like feels very random feels a little bit inorganic uh you have

people saying oh my god this is a top signal we're going to go to zero blah blah you know massive crash coming all this sort of stuff i actually push back on that because as i i mean i was like kind of like uh i went into detail about in my newsletter today i don't think the traditional top signals work anymore and i think i've said this on the refill before they haven't worked for quite a while we have had this sort of stuff happening for months now and obviously we had the crash right from 4 400 to 1700 on eighth and there was like a bit of a tiny two three months i guess you could call it crypto win time i mean we're eighth is at 4k right now we're gonna probably break all-time high this weekend at this rate right so pretty much um you know we

haven't gone into another long-term bear market or anything like that so i i i don't think these things are top signals anymore um suzu actually had a great tweet like a few months ago i think was back in february where he said signs of adoption uh industry sorry signs of froth are indistinguish indistinguishable from signs of adoption and it is because these days yes much of the crypto ecosystem is still very speculative right i mean pretty much most of it is but that's because crypto is a financial first kind of movement right there the networks are financialized uh everything that you can do on them revolves around finance or at least most of the things but it's a lot more than i guess kind of like speculating on coins on exchanges because in the past before ethereum had this bustling

ecosystem even you know as as kind of like recent as 2019 most people were just like sitting on centralized exchanges buying different coins for whatever reason right maybe they saw some youtuber talking about it or maybe they kind of like saw it on reddit or whatever and just kind of doing that sort of speculation there based on on narratives like purely narratives and of course that still happens a lot today i mean cardinal has a massive market cap because of narratives and and marketing and hype and all that sort of stuff and they're not the only ones there's plenty of stuff out there but i would argue that the ethereum network is obviously seeing a massive amount of adoption right not just across like d5 but with nfts and dows and all the regular stuff that we all use even the web 3 stuff and

it's not just ethereum right the wider crypto ecosystem is is also getting adoption we have layer twos going live finally we have the proof of stake beacon chain live one five five nine is live and this is this was my basis for kind of like thinking when we crashed i was like it's not over nothing's over like we're not going into a two-year bear market i don't believe that those bear markets are going to exist anymore and um i have been saying for quite a while that i think it's a super cycle for adoption and with adoption comes rising prices so from that point of view i just kind of look at this whole ecosystem right now and look at these celebrities and be like okay well that's just a celebrity adopting this kind of like tech or just like buying their first eighth maybe to play around with it

maybe rhys witherspoon wants to do something with nfts well to do that you need eighth because you've got to pay gas fees right um or all kind of like you use a's to buy nfts or to kind of like mint them or whatever so it doesn't just mean that she's buying either there's a speculator on it's going to sell it later maybe she is who knows like i don't know what she's doing with it or maybe this was just like her pr manager or like her social media manager kind of tweeting this out for her i don't know but generally i just don't think the traditional top signals that we've kind of looked at before are relevant anymore i mean in hindsight you'll probably look back and be like oh my god i should have sold like there were all these kind of people talking

about it um you know i said the other day that my friend's dad talking about cardano was kind of like a top signal for me and i mean he really did talk about it around the time that the market topped but i think that was just a coincidence i actually don't think that that really meant anything um but you know i have a lot of friends that are like real-life friends or people who just weren't really into crypto that have come in now through things like nfts through things like dfi and they've stuck around and i think you know there's a lot there's a lot more education now there's a lot a lot more signal than noise these days especially in the ethereum media landscape i mean you have so much free education to access to keep you grounded in times of like extreme speculation whether that's

uh i guess going up or going down and it kind of like keeps you keeps you going i mean i obviously produce a lot of the content through daily gray and ethub but i also listen to a lot of what bankless does read a lot of what they do um you know there's plenty of others out there like the defiant d5 dad i mean just generally crypto twitter there's just so many more so much more signal than there is noise and this is very different to what it was like back in the day i remember 2017 there was no signal it was all noise the kind of most popular place for ethereum related uh discussion was reddit and on reddit there was a lot of noise about like ethereum and when a2 was coming and when this was coming when that was coming in there was so much confusion

but now you have so much signal that you can go through and you don't even have to kind of like pay attention to that confusion yes crypto twitter is still a mess but you don't even have to use crypto twitter i mean i highly recommend it obviously but there are plenty of people who will summarize it for you i mean i do that exactly that on the refuel every day right i summarize crypto twitter what you know what i've seen kind of like happening and the most interesting things in the ethereum ecosystem but not even just me uh you know as i said like bankless and all the others so from that point of view as well we just have so much more kind of like a signal to keep this ecosystem kind of like on the positive side of speculation rather than the negative

side and i mentioned in my newsletter today that not all speculation is created equal there's like zero sum negative sum and positive sum negative sum is like the scams right the the kind of like really bad scams and rug pulls and hacks and all that sort of stuff um then you have like the positive sum stuff which is essentially turning speculation into something that can be used for good so for example optimism announced that they're going to be using all of their profits that they that they earn from the optimism network at least for the time being to to go towards public goods right so that's that's harnessing that speculation that's happening and and those fees and putting it towards public goods there's 1.59 which makes uh you know the network usage positive some because it means that eath is getting burned and all eighth holders get to

uh basically get a piece of that essentially because obviously the burn is one of the demand uh sorry one of the value drivers for eth and i mean there's so many other examples of this git coin of course like the more money that is made in the ecosystem the more money that gets donated on get coin it's a pretty good correlation there so you have all of that stuff kind of like happening and then obviously there's zero sum stuff where someone wins and then someone loses there are some kind of that going on but i think we're we're kind of like going towards more of the positive some sort of stuff and we're making more positive some games within the ecosystem i think that's just another sign of like adoption and kind of like the fact that we're we're kind of yes we're we're frothy the

market's really frothy there's a lot going on especially the nft markets and stuff like that but at the end of the day what did people expect from adoption as i mentioned the other day open c i mean probably at this point has what 350 000 unique addresses that have touched their contracts that's nothing nothing guys like we're going to onboard the world the world is billions of people so don't expect these things to kind of like slow down over the long term it i truly believe as i've said we're in the early adopter phase that's just going to keep growing from there the inner fader phase is done we've i mean there's plenty of innovations left to do but we have basically jumped i think from the innovative phase to the early adopters because we have things for them to use now we have defy we have nfts layer twos

are going live so they can do it on on the cheap as well we have all these other infrastructure and all these other kind of things happening it's just we've just kind of like jumped to that kind of chasm there and because of that i believe as suzu has said signs of froth are indistinguishable from signs of adoption and all of these old top signals are no longer going to work all right so the bit of regulatory news out of this guy called walter bloomberg who seems to kind of just tweet uh bloomberg headlines uh but essentially he said regulators are investing crypto exchange developer unifop labs uh the sec probe examining company behind one of the biggest decentralized exchanges sec enforcement also seeking information from crypto lending platforms sources say and i quote tweeted this by saying

unisop smart contracts are unaffected and they are unaffected because they're completely decentralized there is nothing a regulator can do unless unless they wanted to take over the entire ethereum network in order to kind of like change the contracts or shut down the contracts and obviously that's not going to happen right or at least if it did happen it would be a lot messier than just unisop getting getting messed with um but anyway what i wanted to kind of like focus on is the fact that from what i'm hearing from people i've spoken to a lot of dfi teams got this and essentially what it is is basically an information request the sec is probing these teams because they want to know more about what they're doing not necessarily that they're under an investigation for any kind of like criminal activities so don't take this as a kind of sign that unisop has done

something wrong the ssc is going after them or whatever they're just probing for more information about what they're doing now i've probably said this on the refill before i think i have where i think this is just total i'm sorry but the sec should not be focusing on these sorts of things they should be focusing on all the bloody scams like it took them five years to charge big connect or something like four or five years what the hell like why are they focusing so um intently on d5 and unisop and stuff like that maybe it's just because they're much more visible i guess but this is what i hate about regulatory bodies and regulatory agencies is that they actually haven't done anything to protect investors or anything like what have they done like they didn't go after they've gone after hardly any of the

scams the ones that they do go after they hit with like a small fine it's just i mean it's so bad like if you actually look at the enforcement that has happened from the sec it's just been terrible and now they're going after legit companies and as i said they're not like going after them in a criminal matter they're just kind of like asking them for information and that's all fine but they're spending their resources on this when they should be spending their resources on going after the scams maybe they're doing both i'm sure they are but i just i don't know like this just kind of rubs me the wrong way but i also saw some kind of like chatter about this uh on on twitter people saying that the sccs are kind of like window um for kind of like uh enforcements for like their calendar

years ending in september so um normally they kind of like do a lot of enforcement kind of action in september to make up for that quota kind of like how police have quotas and stuff like that which makes sense as well but still i mean i'm still very annoyed by this i would like to see much more enforcement of the actual bloody scams in crypto rather than the legit projects because at the end of the day you know uni swap yes okay you can make an argument that uni swap enables these scans because people list their scam tokens on uni swap and then people go and trade it and whatever but unisop the team themselves that's not their fault they just put this out there this is just what happens with a um with a generalized neutral platform or with something that you know kind of

anyone can do what they want on it's not like you charge the gun owner if someone but sorry the gun shop owner if someone that bought a gun there goes and kills someone right that's not how it works so you shouldn't go after uni swap labs the team that built the contracts just because someone decided to use their contracts in a in a you know in a bad way or to scam someone you should go after the actual people doing that so yeah i mean you guys know my general views on regulations and especially sorry especially financial regulations i think most of them do hunt more harm than good i think the sec is just lapping when they say they're protecting investors i don't think they've actually successfully protected any investors in crypto um at this point so yeah i'm just not going to go on too much of a rant

about that but generally i just think it's kind of like crappy but anyway as i said this is not something to worry about um this is basically just information an information probe for now and i don't think there's going to be any criminal kind of like charges brought against any of the d5 teams or at least any of the legit d5 teams because they haven't done anything wrong right unless the sec says oh well you did this wrong because like it's unregistered security blah blah i don't think so because a lot of these us-based d5 teams have a team of lawyers they you know if you look at the language they use when they launch their tokens it's very very careful they have foundations that are offshore that launch the token i mean dydx recently did this where they said okay dydx the company didn't launch it the dua dexter

foundation launched the token and and you know all that kind of stuff so i don't think this is going to be a big deal but yeah i would like to see the ssc going after the actual scams more than they go after the legit companies but what can you do what can you do all right robert leschner here put out an interesting tweet today where he said college majors in 2030 crypto economics nft art history protocol political science and memeology so i actually think these might become majors before 2030 like 20 30 is nine years away it's it's too long and i actually think that this sort of stuff should be being taught right now crypto economics is the basis for basically this whole ecosystem it's basically what everything runs on it's what all the chains run on it's what all the default kind of stuff runs

on it's even what nfts run on nft art history well maybe that has to be in 2030 because there's not too much history about nfts just yet but there is still a healthy body there i mean it goes back as far as i think like um these pepe nfts on bitcoin or something like that but if you even want to just go back to 2017 with uh punks and cryptokitties i mean still a few years but maybe you want to wait a bit extra to kind of like get get more kind of stuff happening there but generally i mean you could probably talk you could probably teach a whole bloody class on nft art history already uh given what's already happened in nft space and then you have protocol political science which is basically i guess looking at what's happening with the d5 protocols and decentralized governance

and kind of looking at protocol politicians and stuff like that i think that could be taught right now and memeology could definitely be taught i mean memeology just even outside of crypto should be something that is taught in colleges or should be something that everyone learns because memes run the world like this is not something that is a crypto um only thing in a crypto native thing this is something that uh i guess i think his name is richard dawkins has written about in his book uh about i think what's called the selfish gene or something maybe i'm getting my books mixed up here but they wrote he wrote about that and read about memes and stuff like that um and this has been you know in the in in the kind of works for decades so it's not something that's that's new but obviously memes rule the

crypto space i mean the whole bloody space runs on memes um and i think memeology is definitely a kind of thing that should be taught in in colleges for sure but i mean i'm kind of like take a little bit of a biased approach here where i actually don't think people should even be going to college like you don't need to just i mean especially if you're in crypto the opportunities in crypto are endless i don't know any teams that ask for like a degree or like a phd to get involved with them you can get started with any team without kind of like these credentials as long as you're kind of like a crypto native you know the lay of the land and you're willing to kind of like learn and level up you know you'll be pretty pretty set to get a job there but anyway i'm gonna

move on from that for now uh for now so austin griffith just put out a reminder tweet today saying remember friends it takes 20 seconds to throw a tiny cut of those nft gains to builders on ethereum you can go to buildguild.com um which is a streaming uh each service that streams east to devs for building components and prototypes on web 3. so yeah if you have some spare funds you want to kind of like uh chuck towards kind of like these builders sort of like how you do in get coin grants matching rounds which is going live next week i believe you're on the 8th of september so you've got that coming up too just go visit build or get buildul gilda dot com uh which i'll link in the youtube description and you can go give some kind of like eighth gains there and you

know it may even be a tax write-off depending on where you are because it could technically be classed as a donation so who knows i'm that's all tax advice check with your tax advisor for the hat um but maybe it could be just so it's just an idea there so arbitrary did an ama on reddit overnight there uh but overnight for me at least when i was sleeping so there's a lot of good questions kind of answered in here you can kind of see uh there's a lot of um questions and answers from different ethereum community members here um and you know uh i think they're the ama is definitely finished by now uh yeah so if you kind of missed this i definitely recommend giving it a read it answers a lot of the common questions that i've been seeing from a lot of people around

arbitram in general and around layer twos more generally as well so i'll link this in the youtube description and you can go check it out so tim biker has published the uh another all-core devs update from the ethereum ecosystem but it's not really an update as he says here it's a deep dive into the evolution of the roadmap for the merge and they've moved from the hackmd platform to mira to the mirror platform here which i thought was really really cool so you can just kind of go read through this it goes about that sorry talks about the merge pre-history goes through the phases goes through the early merge roll-up centric roadmap everything like that i mean there's a lot of amazing information in here about the merge and the roll-up centric bro map and all that sort of stuff so i highly recommend

going and giving this a read one thing i would love to see tim do here is basically have an nft that can be minted for each of these up for each of these posts because mira lets you embed an nft in here that you can mint and i would mint that and then the proceeds could go to eth core devs like how cool would that be uh and you know there could be a split just like there was for the eip1559 nfts on the um mirror platform here so yeah anyway go give this a read if you haven't yet it's very very important and full of really great information so prata the second test net uh for eth2 here has forked to altair which is the upcoming kind of like fork for uh the first fork for eth2 that has a host of kind of like upgrades and changes to it

so a successful upgrade and client teams uh just left iron out a few kinks here but yeah everything seems to have gone well so if these all run well and good uh i think in maybe another month or so maybe the end of september we will see a mainnet fork of altair on eth2 so keep an eye out for that make sure that you're ready for it if you're running an eth2 validator you'll have to update obviously your your validator and your beacon node um but this is really cool it seems that everything has gone through quite smoothly here and there hasn't been any issues with it so yeah i guess congrats to the e2 teams on a successful upgrade here so jacob frenect put out an interesting tweet on twitter uh yesterday where he said every day more people use ether's money every day the atheist money crowd

is more right and the eighth isn't money crowd is more wrong one is betting on a four plus year uh parabolic growth trend continuing the other is betting on on a four plus uh yeah parabolic trend reversing so what i find interesting about this is because is that myself and a few other other like kind of hardcore ethereums have been saying eat this money for a very long time i think as long as it's kind of like 2019 and we've been getting pushback on that like ever since then maybe not so much these days because it's very undeniable that eighth is money because of the nft economy especially but back in the earlier days people would say that it was a cringe meme that it made no sense like saying ethi's money is stupid blah blah but for me ethan's always been money because i've always been able to use ether's

money um you know technically anything can be money but i mean depending on how much it's used as money i think lends itself more to certain moneyness here um so i mean as jacob says the aether's money crowd has just been proven completely right and the ones that said isn't money is is is kind of like wrong here but but on that note i guess if you kind of like uh some people kind of push back and say oh well you know eth is more than money i mean of course that's more than money you know we don't say it is only money but the eth can be i mean is money sorry and can be so many other things right ether is a capital asset it is a collateral asset indeed five eighth is a staking asset is a kind of like consumable asset

because it gets burned there's so much stuff going on with eth i mean it's it's not like a mono asset it's not like bitcoin there's so much other stuff you can do with it and so many other valuable mechanisms for it as well so yeah i just wanted to kind of like point out that uh kind of like that i guess like meme that came to life with his money is actually true obviously and i'm sure a lot of you have used ether's money to do a variety of things especially in the nft space here as well all right so you may have been hearing a lot about this loot project over the last couple days as i said i spoke about it and did a tldr of it on the refill a couple of days ago but i guess there's a lot happening in

this ecosystem and lily put out a great thread a tweet thread here today basically uh uh giving it a snapshot of what the loot ecosystem looks like uh right now and to be fair i think this has only been out for about a week so far so this ecosystem has actually blown up a lot so you can see this kind of like flow chart here of what's going on all the different links and there's a thread with it with kind of links to all the stuff that is happening but this was posted i think 24 hours ago so it's probably outdated unfortunately at this point or maybe more than 24 hours ago so it's probably outdated but it still has a lot of great links to a lot of different a lot of different things here so definitely go check this out if you haven't already um but i guess like a

little bit kind of more chatter about the loot ecosystem and what's been going on here i did kind of like explain why i'm excited about it in the refill a couple of days ago but i had a lot of people in the discord kind of asking about it today i'm even more excited about it than i was a couple days ago and david and i spoke about this on the bankless live stream but i guess if i had to summarize why i'm so excited about it is because it's basically a zero to one moment for nfts and what i mean by that it basically changed the game when it came to nfts it it took what was typically a top-down approach where you'd have a creator creating the art and the value and kind of like putting it out there and then the community could latch onto

it or not buy it speculate on it whatever it's done the reverse of that where it said well here's some text on like a on on a jpeg it's really just text you guys can do whatever you want with this you can make derivatives of it you can kind of like make the art for it whatever you don't have to kind of like follow along with what the kind of creator said to do and it's kind of changed people's kind of like i guess frame of thinking around what nfts can be and how the metaverse can actually form on ethereum and that's why i'm so excited about it so yeah definitely go check out this thread and check out all the resources that are available here but one kind of thing i wanted to show you guys is this loot mart from john yan here and this

goes into this kind of speaks to what i was saying before about how because these things were just text on kind of like an uh like white text on a black background as you can see here people can actually create the art so essentially what you can do with loot mart is you can um unbundle your loot bag into individual uh loot items as well because the loot bags come with a with eight different items here so you can unbundle them um and then trade your loot items to upgrade your adventurer and dominate the metaverse as they say here but also look at the art here on the right hand side now this art on the right hand side was actually generated by an ai this was not drawn by um a person from from from what i saw it was actually generated by ai so we

essentially have like a scalable way to generate art for these sorts of things and then people can create their own custom art if they want to they can agree upon it uh they can kind of share their ideas with each other and build different things i mean this whole thing's permissionless so this is the stuff that i get most excited about is the fact that anyone can build on this there is no central party here this is exactly like what ethereum is where it's permissionless decentralized anyone can build in it the community can agree on what's valuable and what's not and that's what's got me most excited about the loot project and how i believe it's a zero to one moment for nfts and you should be paying more attention to it for sure um i'm not going to tell you to go buy it or

anything i think the the floor on the loot bags right now is 28th so it's not cheap and disclosure i hold a loot bag and i also hold some of the a gold tokens um but i hold them because i'm really bullish on the project and i think it's going to go far so yeah just kind of like wanted to put that out there for you guys but also on the topic of nfts immutable has um put their self-serving uh kind of like a feature live which means that anyone can now mint and trade uh nfts on immutable x so 100 gas free minting and trading massive scalability of 9000 transactions per second secured by ethereum because immutablex is a true l2 built on starquest technology here so if you're a developer you can go to the docs website here which will be linked in the usual

description kind of like do all the stuff they say here and that's how you can kind of mint your assets now i think from what i've seen immutable is going to be onboarding marketplaces like opencv relatively soon as well i've had a few people ask about that and like oh when's openstack going to be on layer two i think urban's already on polygon but um that's obviously um a side chain but like i'm pretty sure they're going to be on immutable they might even be on like arbitrary optimism and stuff like that i expect them to be everywhere so yeah it's not going to be too much longer before you have these scalable nfts like zk sync and has been focusing on this as well and loop ring as well of course uh so yeah i mean i think people realize that the nft mint costs and trading costs are really

really high but at the same time network effects are hard to build and hard to break so the network effect of everything being on ethereum is pretty much impossible to break but we can kind of like get adoption for these layer twos as time goes on um and you know it's it's gonna take time to get those network effects to play out there so this is just the first step i think from mutable uh here and i'm really really excited to see that they've kind of like launched this uh and and kind of like made this open to everyone because that's how you get those network effects right you can't just be a centralized team doing it you have to have it open to everyone in a permissionless way all right so the final thing i wanted to talk about today was a tweet that i put

out where i said i've noticed that many more people are taking profits from other coins into eth rather than btc or stable coins these days it seems like ether has become the safe haven asset for crypto now the reason why i say this is a few different reasons and i don't think this is maybe a a kind of phenomenon that's happened over the last kind of maybe month or two i think this has been going on for quite a while but it's definitely accelerated over the last month or two if you look at the eighth btc ratio people have been buying up eighth more than they have been buying up bitcoin and taking profits into eighth if you look at where eth is compared to bitcoin in terms of getting it back to its all-time high eth looks like it's going to go there before btc does if you look

at the ecosystem the culture everything happening it feels like eth is definitely the center of that and btsc is kind of something that people don't really talk about anymore and as chris burniske said yesterday in a tweet or the day before uh btc has lost its cultural hold on crypto and i think it lost it quite a while ago it's just the rest of the kind of ecosystem is waking up to this right now so from that point of view i don't understand why you would go to btc right if you're taking profits from another coin over taking profits from an nft where are you going well you're selling it for eth right you're not selling enough tape for bitcoin a lot of people that are speculating on other smart contract platforms they're not taking profits into btc maybe some of them are but i know a lot of them are

taking profits into eighth and you can actually see this play out in real time i actually see it on coin gecko sometimes where if eats pumping i go on coin gecko and i look at what other coins are dumping on like the hourly chart i know this is a short-term thing but i look at that and it's usually the other ethereum chain or ethereum killer chains or kind of like alternative layer ones so people are obviously speculating on these other things and then thinking okay i've made enough money here i want to rotate into ether because that's where i want to kind of like store my wealthy and i don't want to go to stable coins or anything like that and why wouldn't you i mean eth lets you do so many things you can go and do it do stuff with d5 you can go

and stake it you can hold it as a as a great story value asset that i believe is a better story value than bitcoin i mean the kind of like writings on the wall here and it has been for quite a while i just think more and more people are waking up to it but yeah i mean you guys know my views on all this i'm not going to rehash it here in in the refill today but essentially i just i mean personally i do this all the time and i just think i've been seeing more and more people doing this lately and more and more i guess like bigger fish do this as well like the whales kind of trading they may have traditionally gone to btc or stable coins but i feel like they're going to eat these days and maybe this changes in

a bear market i don't know how ethy's gonna fare in a proper bear market i'm not talking like a two to three month dip i'm talking an actual longer term one i don't even know if that's gonna happen i don't think it will but we'll have to see it probably maybe it will if things get way too crazy and way ahead of themselves but anyway i think i'm gonna leave it at that for today uh just a quick reminder before i finish it up there is an ama happening tomorrow in the discord channel so if you're free tomorrow night at 11 p.m australian eastern standard time which i believe is morning for the us and uh i think like lunchtime afternoon time i think mid afternoon for europe definitely attend but if you don't it'll be recorded and uploaded to youtube but if you have any questions

you want me to answer and you can't attend go ask them in the ama series channel in the discord um but yeah hope to see you all there if you can attend but on that note thanks for listening and watching today's refuel everyone uh be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to the newsletter join the discord channel and i'll catch you all next week thanks everyone