Shanghai is coming, OpenSea on Arbitrum Nova & more - The Daily Gwei Refuel #520 - Ethereum Updates
9 Jan 2023 · 30:09
Ethereum educator Anthony Sassano previews the upcoming Shanghai upgrade on The Daily Gwei Refuel and reviews Ethereum.org's Q1 roadmap. He also covers OpenSea's launch on the Arbitrum Nova layer 2, Polygon's partnership with Mastercard, and a year-end recap from the zero-knowledge rollup Scroll.
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hello everyone and welcome to another episode of The Daily gray refuel where he kept the latest news in ethereum ecosystem I'm your host the analysisano and has the 9th of January 2023. all right everyone let's get into it so I forgot to mention last week when I was covering the all chord devs call uh Twitter thread that timbiko put out that it was actually detailed that the first Shanghai public test Nets will be going live by the end of February so that was basically confirmed by the the core devs there with of course a mainnet release still scheduled for some time in March I know I've been saying late March early April I I think it's a it's probably more likely to be late March than early April but you know things can kind of happen and then maybe we get like a a first book of April kind of release
there but as I've said before it doesn't really matter and then I continued my tweet by saying you know I was told staking withdrawals and ever coming uh coming to ethereum and that vitalik was holding my eighth hostage forever obviously poking fun at uh some of the people spreading fud about Beacon chain withdrawals now I've spoken that length about withdrawals last week on the refill I'm not going to rehash that here but they're so close I mean it's January 9th right like if public Testament test Nets by the end of Feb so let's just say like the last week of Feb uh it's about six weeks away not even and then uh by end of March we'll have staking withdrawals and it'll be before we know it honestly it's not that far away at all and in the meantime all the other stuff that's coming in the upgrade after
Shanghai like Erp 4844 is also being worked on so I mean it's kind of funny how like the merge seems like it happened so long ago now at least it does to me because time in crypto just it just moves so so quickly um it happened on September 15th obviously uh but the time between the merge and the time and now is less than the time between now and when withdrawals are going live so just to put that in perspective uh so that that's pretty funny right like we've got we're actually closer to uh I guess like um withdrawals going live than we are then we are further away from the merge there uh so yeah just a little fun tidbit there that I thought of just before but yeah I'll keep you guys updated on this we'll see what happens
there obviously when it comes to the public test net unless you're running infrastructure for them which most people aren't you don't have to worry about it I don't think there's going to be like a live stream for the test net deployment or anything like that it'll just get deployed they'll test it on there everything should be fine because it's taking withdrawals are relatively simple and then we'll have that going live on mainnet I don't know if there's going to be like a live stream for the Shanghai upgrade usually there are for ethereum Network upgrades but Shanghai is such like a I mean it's exciting because big and chain withdrawal is obviously a big deal but it's not like the merge right it's not like erp1559 I'm sure there'll probably be like a stream somewhere I'll let you guys know where that is because I'll hopefully be
able to join it um but yeah you'll be forgiven for not really uh caring too much about it considering it's not yeah it's not as exciting as with as um the merge and erp1559 and some other upgrades that have come but to me as I've explained at length last week I was taking withdrawals are super exciting I am looking forward to them uh you know and more than most things in in the ethereum ecosystem because I I really want to see the second order effects or I guess like the first and second order effects of what happens after withdrawals are enabled like that great reshuffling that I've spoken about and also my thesis on over the I guess like medium term to long term uh withdrawals are going to be really bullish because it'll mean that more eth gets staked uh so yeah we'll have to see how that shakes out there
all right Sam Richards from the ethereum.org team are put together or published today's eth.org q1 roadmap so you can go look at this on GitHub here I'll link it in the YouTube description below but this goes over everything that the ethereum.org team is hoping to accomplish in q1 of this year things from hiring and Community lead so uh you know the post says our current Community lead is transitioning to another role in the team leaving a gap in the ethereum.org team's capacity to interact with and grow the incredible community so they are looking for a community lead maybe that's something you guys are interested in if it is you can definitely go apply you can join the Discord and look out for the official announcement when the role is is announced in the coming weeks but that's
just a little bit of an alpha heads up there if you're interested in joining them and you know what I know I said that I think layer twos are some of the highest leverage places that you can join uh today uh in terms of a career advancement and other such things but I think if you're joining the ethereum.org team is just as amazing I mean you get to be an educator you get to be part of a community that really cares about ethereum cares about making sure that people are informed about ethereum and uh and you get to basically shape that as well so yeah I think that would be a really cool role if that's something you guys interested in but other things on the roadmap include implementing a design system setting up storybooks and chromatics launch launch pad withdrawals so obviously with withdrawals going live
uh they want to help prepare a launch pad to allow users to withdraw their staked eat as simply as possible which is pretty cool uh content on withdrawals of course uh protocol roadmap content and so much more I mean this list is quite long actually so definitely go check out the list for yourself I'll link it in the YouTube description below uh but really really great to see the ethereum.org website continuing to get better over time as I've said before is one of my favorite resources for keeping up with everything ethereum and learning about everything ethereum so kudos to the team for uh for going ahead and putting this roadmap out there for all to see all right the nethermine team has announced a update for the sedge uh I guess uh piece of software that I've
talked about uh before which is basically a piece of software that acts as a management suite for solo validators well it now supports all execution clients and windows so as a one-click node setup tool sedge makes it easy to try new client combinations ahead of the Shanghai hard Fork so this may be something that you're interested in if you want to be a solo Stakeout and you don't want to necessarily have to use a Linux based machine like Ubuntu or use Mac OS now that it supports Windows and supports all different execution clients as well which is very cool to see I'm not sure exactly how what the support on Windows looks like I don't know if it just supports Powershell or command line and if it actually has a GUI attached to it I would say probably at this point it's only at the command
line as well so you would still have to mess around with the camera command line most likely but this might be something that you're interested in as I said sedge is a I guess like management suite for solo staking similar to The Rocker pool smart node stack if anyone is familiar with that or if you've seen that before it is in similar Spirit to that it's trying to build a way for people to easily manage their solar staking setups without having to uh go through all the Hoops that you would need you'll normally need to do in a just vanilla solo sticking setup so yeah go you can go check out sedge for yourself I'll link this in the YouTube description below alright so I came across this meme today that was put together by Mike from gm.xyz and this meme is called it is
titled the eat by or and basically the reason why I wanted to highlight this meme is because it's more than a meme it really just touches on some of the uh I guess most exciting things that are happening in the ethereum ecosystem right now and why people are buying eth like this basically goes into people's investment thesis right for buying if it definitely goes into mine and I wanted to touch on a few things here so the the first thing is that uh talking about how to solve this issue of censorship resistance on ethereum now I've talked about this a lot and how I think it's an incentive issue it's a profit issue uh and how there are many different fixes that are coming uh and that have already been released but they say here on the meme you know encrypted mempools will solve Mev and that and
dank sharding will help each scale while maintaining composability so this is hitting a double whammy here with encrypted mempools as I've talked about before basically keeping those transactions private before they hit uh they hit the chain before they get included in a block and obviously dank sharding helping ethereum scale and Paradigm sharding while maintaining that composability I I mentioned that uh Justin Drake on the bankless podcast that we did on the eat bull case mentioned that a really cool property of ZK Roll-Ups is that they're able to uh with Dank sharding able to do cross roll-up composability and atomic and and doing Atomic transactions which I've talked about before and why people like that and I actually answered a question on the AMA that I put out yesterday regarding this where I basically said that I think opposability is is cool and
atomicity is really cool but I think it's overrated as well uh even though it's going to definitely still be a thing going forward it's going to be a thing for Roll-Ups and all those sorts of things as well I do think that it is probably overrated people over index on how important it is versus other things and then the second Point here is you know staking is a source of risk-free yield that is likely to increase dramatically with transaction Revenue in the next Bull Run this is a pretty big thesis that people have and I see a lot of people talking about this in in regards to when demand goes up gas fees on ethereum go up which drives more Revenue uh or I guess like more fear revenue and Mev profits to e-stakers which drives up the yield which means more eth will be staked and locked up
which means that logically the eth price should go up over time it's a sound thesis but I feel like at this point or maybe we're close to it becoming a saturated thing where everyone kind of thinks the same thing but it makes sense right it makes a lot of sense that this is going to happen I'm not saying it's not going to happen it definitely will but I really do wonder where the total amount of eighth steak kind of tops out at like what number do we get to before people say well you know the yield isn't good enough like yeah okay maybe I'm getting three percent all up yield here but that's just not good enough for for me I want to put my eighth to work somewhere else uh and three percent just isn't worth it for me and that's totally fine right now yields can vary I think five
to six percent including execution layer rewards which is obviously still very tasty and still very juicy for a lot of people but when you start going to three percent and then two percent and then one percent depending on the type of person that that that is taking it just doesn't become very um a very lucrative for them and then you may see people outflowing from staking because the rewards are too low which obviously just increases the rewards for everyone else so it's like it's a balancing act there uh but we could see that happening too but in terms of activity going up in Bull markets we have plenty of precedent for this there's no doubt about that happening at all even with 2's live and that means that transaction revenues go up and revenues for stakers go up as as well there and then a few other points
here but I just wanted to touch on one more uh where they basically said you know demand for eth as the most pristine collateral in defy will be a large source of buying pressure no contract risk no governance risk no Oracle risk no custodial risk and no counterparty risk I've talked about this before about how eth is really the only truly decentralized asset on ethereum that has all the necessary properties to be amazing collateral it has a monetary premium it is a store of value as I said it is truly decentralized it is very fairly distributed across some the ecosystem it has a massive Network effect effect it has Lindy it's it it has it's accepted everywhere right it's very liquid all these things come
together to make it the best and most pristine collateral on ethereum to interact with things like defy and of course uh you can stake your eighth and then get an LSD from that and then use that LSD in D5 as well which basically increases the capital efficiency of your eighth with a little bit of extra risk obviously it's not as risk-free as solo Heath uh sorry a solo staking uh and it's always taking doesn't give you an LSD but obviously it's not not that uh not um it's a different risk profile I should say there but still the risk isn't that much more I don't think uh depending on who you go with right depending on what LSD you're holding I mean if you're holding a CBE uh then or a b e uh uh you're then taking on custodial risk of course but you're
already taking on that risk Anyway by staking with these services so it really depends on your risk appetite there but I just thought that was a funny meme to kind of highlight you can see the full meme Olden kit in the YouTube description below all right so there's a great Twitter there's a great tweet thread here from slap Jake uh dot eath today who said uh today I guess over the weekend we said optimistic Roll-Ups already have a major Head Start in on-chain ecosystem and community over ZK Roll-Ups but many predict ZK Tech to be superior when mature what if I told you optimism is preparing for future support for ZK proofs with optimism Bedrock now I've talked about this a lot of times on the refill before about how Bedrock is being future-proofed about how I believe that optimistic Roll-Ups uh totally fine in
the face of ZK Roll-Ups they have been building out in an ecosystem for quite a while now and they can easily convert themselves to a ZK Rob right instead of using uh fraud proofs they can use validity proofs uh as time goes on um but I think that's more of a back-end thing that users don't necessarily care about the users obviously care about the fees being cheap and post-prodo dank sharding fees on optimistic robs will actually be cheaper than on ZK robs which is funny as well and that concern over the seven day withdrawal period you know the funny thing about that I used to hear about it all the time I don't hear about it at all anymore and you know why because as I said when I heard about it all the time there were going to be solutions that come came out such
as often onboarding to centralized exchanges and Bridge uh protocols like hot protocol that allow users to just often on board instantly and that's exactly what happened I don't even remember the last time I heard someone talk about that seven day withdrawal period in a negative light even in a positive way I mean I don't really hear about it at all which is funny uh because they used to use that as a comparison to ZK Roll-Ups in saying that I'm still obviously very bullish on ZK Roll-Ups and ZK EVMS obviously I think that ZK roll-up architecture is technically Superior two optimistic Roll-Ups but the optimistic roll-up technology and and everything else that's being built as part of optimism and arbitrim optimism bedrock and arbitrim Nitro is future proof for this stuff it it can be converted into a ZK
roll-up and they get to take their whole ecosystem with them which is obviously very cool but if you want to learn more about that you can definitely give this tweet thread a read which I'll link in the YouTube description below and Bedrock is due out in I believe in q1 sometime in q1 which would be great to see on optimism there uh but yeah as I've said before uh as I think I said this from literally the day optimism went live because people were saying why are we putting optimistic Roll-Ups live when zika Roll-Ups are going to be here soon well I mean Zeke Roll-Ups alive but ZK VMS aren't really live in a public mainnet fashion yet right um and it'll be probably two years from when optimism went live uh in a year and a half from when uh Arboretum went live I believe or or maybe more than that uh
when we see the ZK VMS live so they'll have a one an 18 to 24 month uh uh Head Start Optimus 11 18 to 24 month head start on the ZK VMS and they already have a massive ecosystems uh they already have all the apps deployed people are using them there's already a network effect there and then if they convert to a ZK roll-up by doing validity proof instead of fraud proofs that is a huge Plus for them and as I've said before and I'll reiterate it again there's only going to to be a handful of big successful generalized ll2s I do not believe that we're going to have tens of these things that are super successful there will be niches that some feel there will be some activity on some of them but it is going to be a parallel distribution I strongly believe that
when it comes to the generalized platforms but as I've said in the past the app specific l2s there's going to be plenty of those and there in my mind they're they're basically niches they will accrue some sort of value but the generalized platforms definitely will accrue most of the value because they will have huge ecosystems on top of them and a lot of them already do arbitrine optimism continue to grow combined they're about to flip ethereum layer 1 transaction count which as I said before isn't the best kind of metric but it still signal uh and and they've been growing across every other metric that I've been tracking like developer activity Fair Revenue smart contracts deployed apps deployed users obviously organic kind of traction in the community those
things are kind of subjective but you can you can kind of gauge it yourself if you want uh uh but yeah anyway go give this thread a raid from slap Jake I'll link it in the YouTube description below and one more thing about optimism that I wanted to talk about was a great tweet thread and video from David Hoffman over the weekend where he said uh where he talked about the op stack which is basically this set of tools that allows you to Fork optimism and build your own uh Network or build your own layer too using optimism's technology and do it in a modular way now of course David's video is probably the best resource you're going to get through explaining exactly what this is so I highly recommend going and watching it I'll link it in the usual description below but you can also read David's tweet
thread as well if you don't have time for the video now the reason I bring this up is because I've talked about before how I think that in order for layer twos to be as successful as you want them to be there needs to be a service just like this and there are two other I believe teams working on this I don't know the name of the second one the first one is stuck a network and the second one I can't remember the name but I have seen a second one working on it while optimism is also doing this as well because they understand the importance of making their technology open letting people uh uh Fork it letting people play around with it letting people spin up their own ecosystems and keeping it all in the optimism family so to speak so it's kind of like how ethereum layer one got
forked a bunch of times and the evm got forked because of that and then it actually ended up accruing a lot of value to the ABM which benefits ethereum well with the optimism and network being forked and people spinning up their own networks that logically I believe uh should uh uh should push value into optimism as a community as a as an ecosystem and be better for the optimism Network overall than if they hadn't done something like this but anyway if you want to learn more about the op stack I'll link this thread in the YouTube description below which contains the video for you to go check out all right so openc announced over the weekend that they are now supporting Arboretum and Nova so arbitrim Nova is not the arbitrine one network this is not the roll-up Network on ethereum this
is kind of the hybrid validium type Network that uh popular apps such as Reddit are using uh to do their nft stuff on uh but arbitrim Nova is basically a validium where it stores data off-chain as part of a part of a data availability committee a data availability committee uh so it's not considered a roll-up but it's it and it is cheaper because of that to use um but it's still a very vibrant ecosystem it's still been growing it's still exposing new users to the crypto ecosystem and it's great to see that openc has deployed there because obviously openc is one of the largest nft marketplaces in crypto it is still used by so many people they cop a lot of hate but a lot of people still use them uh and and they're still kind of growing and they're still building a lot of
useful features for people and they still have a lot of liquidity and market share uh so great to see them deployed on arbitrimin over here so if you are an arbitrim Nova user you can now use openc on that Network all right so Ryan here from polygon announced over the weekend that polygon is partnering with MasterCard uh to uh which is one of the biggest Financial payments providers in the world and is launching a web 3 focused incubator to help artists and this was reported on by TechCrunch on the 6th of January here so just last week uh basically it is trying to uh Foster I guess like emerging artists with web 3 tools and skills uh to allow them to participate in the digital economy specifically obviously the Creator economy or nfts and things
like that and polygon is working directly with MasterCard to make this happen this is just another I guess Business Development Win For polygon bit different than what we're used to seeing from them where they basically onboard apps onto the polygon Network oh but basically what they're doing here is trying to onboard artists or users onto the network and trying to create an incubator for them in uh for them to play around with and for them to basically get a feel for how all this crypto stuff works because I mean it's still intimidating for a lot of people right they may have heard of nfts may have heard it heard of web 3 and crypto and then they go and look at it and like oh my God how do I use this stuff what's a wallet right what you know what's a seed phrase uh you know how do I admit
my first nft who do I trust how do I prevent myself from getting scammed how do I prevent uh my my fans from getting scammed and all that so you know how do I get the most value out of uh this technology so that's what polygon is trying to do here with this web free focused incubator and I think more teams should do this and it's probably falls to the uh the ecosystem projects to do this and by ecosystems I mean like you know the polygons of the world optimisms the arboretums of the world to do these incubators in order to onboard these users it doesn't fall to the ethereum ecosystem uh I I guess like the ethereum core ecosystem because the way I think about ethereum is that it's a business that talks to other businesses that other businesses are layer twos and then
layer two's talk to the consumers so there's a B2B relationship between ethereum layer one and the layer twos and there's a b2c or business to Consumer relation ship between the layer twos and the end users So This falls under there I guess purview in my eyes and I don't think it's something that the ethereum foundation should be doing the ethereum foundation does do a lot of fostering of the community into their grants program and through our mentoring and things like that but it's more so not on the I guess like user side of things it's more so on the protocol side of things so that we can enhance the protocol we can we enhance things like developer Tooling in order to help layer twos and help developers build stuff for the user so more of that B2B relationship uh there but yeah congrats
to the polygon on Landing this partnership really great to see them bringing massive I guess companies like MasterCard into the web 3 fold here all right so uh scroll put together their recap of what scroll did in 2022 now this is a tweet thread that you can read it's not that long I'll link it in the YouTube description below but just a reminder here Squall is currently in uh pre-alpha test net phase which went live in August I believe their uh next upgrade is coming soon I believe I covered that on the refuel uh recently but yeah I mean scroll is right is a relatively new entrant to the ZK evm space uh they've been around for a little while but I think they're they're one of the newest ckvms uh but they're
one of the best teams in crypto I believe I mean I disclosure here I'm an investor in scroll uh but they're great I mean they're they're so smart um I know I you know I talk to them uh from time to time about what they're working on they really do understand the ecosystem and understand what it takes to launch something like a ZK evm and I believe they have enough Giga brains working on it in order to to basically get it live I make it work and grow an ecosystem so I'm super excited about scroll uh and great to see that 2022 recap in this tweet thread which you can check out for yourself and I'll link it in the YouTube description below alright a tweet here from ilami.eath who is who works at Dune analytics who said who tweeted out my 2023 guide to web3
data tools is here these are the most useful tools that data Wizards leverage across the analyst journey to discover explore dig and Define I've written up my thoughts and takes on top features from each product and this is a Twitter thread which I'll link in the YouTube description below but there's also a nice little graphic here that that they've made that basically shows you each uh I guess uh section or each category of that pipeline of discover explore dig and Define and which tools fit into which part of the pipeline so at the top here you can see if you want to discover things about web3 data so on-chain data you go to tools like Dune or flip aside crypto if you want to explore that even more deeply you go and use tools like ETA scan or block native
or tenderly then if you want to dig deeper into that data you can again use Dune flip side and some other services here like nanson and then if you want to fine those metrics create trusted metrics and aggregation so basically create dashboards you can again use Dune flip side defy llama and a bunch of other tools here the reason why I wanted to highlight this is because I think it's an excellent resource for anyone who wants to get their hands dirty with web3 data it doesn't matter if you don't want to be someone putting together dashboards you don't want to have to sift through the data yourself just knowing about these tools is is is is already a lot of alpha for you because you can go to them some of them are paid some of them are free some of them have different tiers I think most of them
have different tiers of information you can access you know free and paid but just having this list here having this graphic here to Define these things I think is is definitely very uh very uh um valuable and will allow you to look into this stuff I personally really enjoy using Dune I mean disclosure I am an investor in Dune but I have used a lot of these other tools before I've used nansen and token terminal and D5 llama uh and and I haven't used Flipside yet actually oh no I have used Flipside uh uh back in the day they've been around for a little while now obviously I use either scan all the time uh block native I use as well I should disclose an advisor to block native um and yeah a bunch of these other tools uh I use too I mean we all use the graph
if you're using a D5 front end or most D5 front ends they use the graph in the back end uh but I think out of all of these I use probably Dune the most uh not just because I'm an investor but because it just suits my needs the best I love the dashboards that they have on there I love going through them checking all that stuff out but that's not to say all these other tools aren't valuable as well they definitely are and you should go check them out for yourself and I'll link this in the YouTube description below for you to do so and there's also an accompanying Twitter thread with links to all of these things as well for you to check out that all right last few minutes here left I wanted to look I try to refrain from talking about the
markets uh too much generally and I say this every time but it's always funny when we have a like a pump right like we had a rally the last 24 48 hours or so uh it seems to to be doing okay right now but I did warn this would happen right I said to you that everyone's pushing this Echo bubble narrative and I did say that usually the start of the year is pretty good uh you know most of the time sometimes it's not great but most of the time in crypto if you look at the the history of the data here it's usually pretty good and I've given a lot of reasons as to why I'm bullish on it specifically I did the 8th ball uh episode with bankless right so I mean you guys know I'm bullish on Earth you guys know I'm bullish on eth against
pretty much every other asset that's not that shouldn't be used to anyone but again I I just want to reiterate here like you've got to look at these things on a longer time frame you have to zoom out eth went up today right a lot of other things went up today and some of them went up a lot today some of the things went up 20 30 but that doesn't mean anything really if these things are down 95 plus percent guys like it's always funny to me because what ends up happening is you get so used to the pain of things just constantly going down or going sideways that any kind of relief even if it doesn't really really mean anything in the grand scheme of things can make you feel better about yourself and make you feel better about the space and make you more excited and more happy
I'm not saying that you shouldn't feel good and shouldn't feel happy or anything like that I'm more trying to get across the point that you need to stay grounded especially if you're trying to trade this stuff you really need to stay grounded you really need to realize that chasing things a lot of the time doesn't really work out too well I've seen people chase things before it doesn't really work out too well because your emotions are running you there you have to have an investment thesis and you have to stick to it that's been my uh kind of uh key to success over a long period of time since basically 2017 even though I got into crypto in 2013 I actually didn't have an investment thesis back then or I was like okay I'm gonna buy Bitcoin I'm going to trade it up on these coins and I'm going to
make more Bitcoin and then a bitcoin's gonna take over the world I'm going to be rich that didn't work out at all I left crypto until 2017 and then I had an investment thesis from there I said I love ethereum I love eth and then I as the years went on I became more and more convicted did on Eighth and obviously that paid off really well for me and then along the line I I invested in other assets uh but then I was always pretty good at cutting the investment off if I felt like the thesis hadn't uh kind of worked out or I felt like the asset itself had gotten way ahead of the the uh the um project itself right and that happened a lot of times especially in 2020 uh at late 2020 and 2021 but in saying that enjoy these times if you
want to uh and enjoy them if they give you excitement and happiness and you like you know posting on Twitter or like uh in Discord Channel talking in the the prices Channel just don't let it affect your investing or trading decisions because it then you you know you stand to wreck yourself and that's not investment advice that's just general advice about anything generally when you're emotionally charged you don't make the best decisions uh even maybe they're not terrible decisions but you don't make the best decisions so if you're trying to make the best decisions then you know have your investment thesis when things are quiet that's actually the best time to form on investment thesis when things are quiet and going sideways I formed my most bullish investment thesis on 8th during 2018 and 2019 more so 2019 when things were sideways based on a variety of
different factors and honestly I bought a lot more youth in 2019 because of that but uh that was because I was able to think a lot clearer now it's very hard to think clearly when the price is going up which you're like oh my God I'm fomoing right now what if heat doesn't stop it you know this in price and what if it goes to like 2K and I don't buy now and I miss out uh blah blah right you're not thinking well okay we pumped a little bit but we're also down a lot and this isn't just e this is obviously applies to everything um you know you know and right now why are we going up is it because we went down a lot is it because we went sideways is it a technical thing is it actually based on you know new bull
market coming has there been enough time for the market to absorb all the bad news all this sorts of stuff it's hard to time this stuff it's hard to know it requires a lot of experience but my general kind of nugget of wisdom here is that just be sure to keep your emotions in check because they can and will destroy you in investing in trading even if you think that you have a long-term thesis and you think I'll just dip you out I'll just dip there it can spiral out of control very quickly on that note that's going to be it for today so thank everyone for listening and watching be sure to subscribe to the channel if you haven't yet give that video a thumbs up subscribe to newsletter join the Discord Channel and I'll catch you all tomorrow thanks everyone