Bitcoin, DeFi , Yield Farming, and Ethereum Update

let's see we are almost going live we're still waiting all right your encoder settings are correct and we're just waiting for that live stream to show up on youtube so welcome guys back to another episode of box mining so we're 11th of september oh that's a pretty nasty date but yeah so it's friday september 11th here in hong kong we're bright and early in the morning it is actually raining cats and dogs outside it was crazy trying to get here this morning was just just a mess so anyways apologies for the delayed start many excuses obviously it was raining but i think a lot of you guys also guessed i was probably yo farming this morning just checking up on my farms trying to decide what to do with everything there so that's kind of the delay in the morning but big welcome to everyone coming and joining in on us on this channel and we're going to talk a little bit about what's happening on the markets overall not too much this week to be honest um being relatively stable stable being a kind of a funny word these days but anyways so no insane panic no no insane pump as of yet but we'll have to see what's going on overall at the in the market front now we also have a little bit of a discussion on yield farming front um i'll be honest with you guys yield farming has been just so exhausting this week um like yesterday luckily for me i had a good night's rest but for the most of this week it was just like farm after farm we have sushi no not just sushi sashimi sake we have a bunch of these moon ones coming up and it's reaching a point where it just gets almost ludicrous it's just like so many new farms and so much you check on each new farm it's getting to a point where managing funds also becomes a big problem as well just knowing where you're farming um because technically speaking what happens with when a new farm comes up i just send a little bit there um and then if it's you know uh not broken not legitimate um obviously that's small amounts of testing and then you move bigger amounts over but man just moving those funds yesterday i was like consolidating a lot yesterday it was just insanely tiring and boring and it's like it's like you're almost like you're happy that you're making money but at the same time it's just like this is the most monotonous stuff in the world so anyways that's that's my complaint that's me bitching first world problems all right first world problems all right it's not not the end of the world but anyways we got decentral leo says honest work yep honest work man it's uh it's still ridiculously powerful compared to everything else out there um you know a lot of times when it's you farming i'm just like really like i'm tired it's like 2 a.m in the morning and i'm just like okay look if i can get go into this farm i can make a thousand dollars by the next morning or something crazy like that because with these new farms coming up they have crazy rewards at the start so you're like oh man it's a thousand bucks i don't want to miss out on that right you know it's still a thousand a thousand still a thousand right but at the same time you're like okay look you know it's so exhausting and tiring it's 2 a.m that the chances of you making a mistake and sending coins to the wrong address is also really high like especially if it's 2 3 a.m like you're so tired you're checking these addresses you know you don't you know you don't even know if it's a ledger or trezor you got stuck in your computer anymore it's uh it's a it's a serious risk and um luckily i've avoided any fun wrong sense so i avoided sending funds to the wrong address this time so like luckily so far so good but like i feel like at some point something bad's gonna happen but anyways that's my two cents on everything going on uh we have so many discussions like why if beta review please i actually didn't touch it um it's one of those things i'm like oh look if i don't get it for free i'm not gonna touch it um and for harvest someone's like thoughts and harvest i'll talk i'll have a whole yield farming episode later but i mean yet again harvest now has impermanent loss so i'm not really in every one of those pools right anymore um i farmed it for free earlier like when the the bread for the people thing was up when you can farm stuff for free um but yeah that's my two cents on everything going on uh angela wine says you know you need to sleep when you can't tell the difference between a ledger and a treasure i think so i think so you just say what is this key okay whatever let's go anyways so that's that's kind of my story for this weekend week um and let's go and just before we start this episode guys make sure you smash up the likes down below providing good information answering your questions definitely like this video we also have um let me just tell you very quickly about my podcast we're ramping up production on that this week um so in my best advertising voice we got unlocking the value on every blockchain with ramp defi that was released on bitcoin out of the box podcast this week podcasts are i found it's a great way to listen to content on the go so recently i've been trying to run a little bit it's exhausting i'm trying to run and i want to listen to something well yeah i can listen to myself i guess if i'm that narcissistic but i'm recommending that to you guys um you can listen to some podcasts and one of them is definitely bitcoin out of the box so i definitely feel it's like a better format for a lot of these interviews and we're going to get some more exciting content in the near future so talking about let's go straight to the markets first of all um i think you guys have been waiting for this so not too much has happened over the past 24 hours we look at bitcoin ethereum within that two percent tolerance that we've been seeing so not too much we've seen markets recover slightly so ethereum as 363 rather than trying to touch that 300 mark we saw that earlier this week where the the whole entire cryptocurrency market was very much tied to the stock market so when stock markets also took a dip cryptocurrency markets also took a dip this week and then when when your fun stocks like your tesla and stuff rose up a little bit recovered 10 20 percent crypto also followed the same so we saw very very strong correlation with the traditional markets this week that's why everyone's pretty much eyeing traditional markets and a lot of the reason has to do with the fact that crypto and bitcoin and ethereum and all this blockchain defy stuff has a lot of relation with kind of new projects right so a lot of people are looking at this as a hotbed for innovation rather than let's say like for example bitcoin it's more of a global transfer of value a global store of value um that's kind of what bitcoin is powerful for but anyways that's kind of the kind of misconceptions right now and it will take some time for us to decouple from everything and i don't think we're still decoupled yet i know there's a lot of people saying yo we just coupled we discovered like for a month we're not correlated so we're decoupled but this is a very strong sign that we're still strongly coupled to the traditional markets especially this week so it will take some time it will take years it's something that you know i i know like uh it's kind of funny i mean i i'm almost off reading crypto news now so it's kind of funny it's like you know like i'm i'm covering crypto news right but i'm always to a point where i actually want to stop reading crypto news um point telegraph i know point telegraph they write so many articles very quickly right but yeah it's it's one of those things where where it's just like oh yay bitcoin 12.5k pump didn't much impress peter brandt like why do i need to know this and then they're constantly like talking about the cme gap i know this is a big deal for a lot of people but you have to remember that cme isn't the biggest trading derivatives trading location it is for institutions right so institutions they don't trust your ftx or binance futures or your bitmex i know i mean they don't trust that as much but on terms of sheer volume derivatives trading just cme just isn't really much out there um so this is kind of a situation where see like this is this this is my point in argument right if you look at 24 hour volume you got okx bitmex huobi futures binance ftx bybit darabit mxc bizz bsc btse cmex kucoin and then you're scrolling all the way down and you got oh number 34 we got cme futures so i know a lot of people love talking about the cme gap but in terms of the actual volume there it's not that much right that's the kind of interesting thing it's 35 million dollars volume it's probably a lot more legitimate in terms of volume reporting i mean i'm sure there is some fake volume here or some market make volume here but at the same time if you look at it the volume is a lot higher and if you ever go on these exchanges to try to trade futures orders go float really quickly ftx binance futures i've all used that bybit i've used that too uh femex i use that too um they're also fast in terms of volume so yet again it's one of those situations where you read this and you're just like okay look is how much truth is there in here or is it just all bark and no bite and it's one of the situations i feel like the bark is very very loud everyone's talking about cme futures trying to close that gap between what's happening on cme futures maybe it might be a point where you know if everyone's talking about it leads to something in the end but at the same time i always want to point out in terms of raw solid fundamentals yeah like cme futures is just such a small volume it's i'm still i'm still trying to rationalize as to why people give it so much credence and i think it's another thing where where um i've been trying like it's not that i don't have the time to read crypto news but at the same time i just feel the reporting sometimes is so bad you don't want to fill your mind with fake information i think that's what leads to potential disasters if you follow mainstream media and you follow even crypto media every day um it's going to give you these false either false hope or it's going to give you a lot of fud for no particular reason and it's to that point where like generally speaking i'll reserve a very small amount of fraction of my time looking at this i just want to see okay what everyone's talking about but it's not information it's not actionable information and okay that's my that's my two cents just bitching about this so i feel yet again okay everyone's talking about cme futures good if you guys want to look at it but yeah not not the biggest kind of um information that i want to really like make it actionable so for me that's kind of key right now so um freestyle says all-time high e volume today let's take a look uh trading view we'll take a look the problem right now is that um in terms of trading volume you have to be very skeptical about what's going on it depends on what exchanges you're looking at um i mean if you look at e volume on coinbase this is um i usually just look at coinbase probably might look at binance sometime in the future as well but um in terms of coinbase yeah not not too much the volume is not if mom's actually going down today um we saw huge volume spikes during either the big pump or the big dump um but yeah that's pretty much what happened last week we went all the way down that's the narrative and then we hit resistance or actually not resistance we hit support at 300 and around 300 dollars 316 um i think the red candles probably for a second there touched 300 i think that's where people potentially could freak out but we're kind of you know kind of recovering here trying to decide where to go next trying to not to be affected too much by the market so it's not too interesting right now um going on during your spikes um kind of signs of recovery throughout the week which is why all of a sudden ethereum gas prices have gone up so if you look at from a pure ethereum perspective so what happened was that during all this like fud and all this like ethereum um gas so if you look at eath gas station right now we're all the way back up to a hundred um a hundred plus guay so previously last week during the rush up i mean if you look at ethereum prices going up ethereum going up also led to farmers more and more farms appearing right so that's when like sushi and stuff were super hot and coinciding with that big push last week we basically saw gas prices going up like insane amounts last week to ethereum gas going up to 400 guay transactions costing like 20 30 dollars essentially destroying anything that's not yield farming i think a lot of people were very pissed i got a lot of the anger too because you're like you're promoting yield farming now the whole network's congested it's the way the market works guys i'm not one person won't change everything right it's the way the market has flown and the way yield farming is right now a way for projects to bootstrap themselves and i don't see that changing for the time being because it's just such an effective way to get a following so yeah so that's what happening the rally up and then we had to rally down and on the way down basically ethereum gas prices also dropped people felt like oh this is over um it's and it's dead and then this week again we see prices going um gas prices going up as well because you know things recovered a little bit people are like oh we're okay playing with farms now we got sashimi swap popping up we got sake swap popping up we've got a bunch of others um just all popping up because i guess why not so yeah that's the kind of uh magic off it so that's kind of the take on the market we have bitcoin also bitcoin is just kind of sitting there maybe a cme futures thing is really getting to bitcoin uncle bitcoin but to be honest bitcoin hasn't really moved much at all this year um not this year this month right i mean we are six months after the halving so if you just want to point out from a from a very very broad perspective let me just figure out how to work all right all right there we go i have to click properly so if you look at it from a broad perspective bitcoin was really sitting in this channel for the longest period of time and now pretty much we're going to move down to this channel yay congrats bitcoin but overall it's not a let's be honest here it's not the biggest movement if you actually really just look at it um after the post halving sort of deal uh we did move up a lot so yes so it's kind of interesting like if you look at from a very broad broad perspective i've been talking to a few people who kind of only look at the markets every few months they're like oh this is the post halving pump you know we're we're still up there kind of very interesting out there but anyways it's not too much action and yet again this is why the whole all claim scene is blowing up because bitcoin itself is not doing much action so you know traders want to make money everyone here wants to make money even if they put a 10x 20x leverage on bitcoin you're not going to get extract too much value from the market because the market's really steady it's just sitting around there you could make a bit i mean i see some traders start talking about this stuff but at the end of the day when you know you know you know that bitcoin like intense trading isn't really there when like owners of exchanges start yield farming like crazy like when you see sam bankman free from ftx going and farming and yield farming like crazy you know what's up right you know he's following the money like crazy and you like it's pretty it's pretty common knowledge now that he was very very big on mining sushi and very likely he's on a lot of other ones so it's a situation where yield farming um became a much easier way to extract value and all the funds are just moving money there and this is why yield farming has so much value locked if you look at it like from a perspective so um sushi zippo.io even if you look at sushi and you look at total value lock it's like a billion dollars there this isn't just your normal average shrimps and a bunch of degenerate gamblers going there a billion dollars into sushi locked about value you know some serious funds are there and absolutely i mean we've seen yeah sam was there we've seen um you know dovi wang just come coming out pushing wifey to up the wazoo you know that these funds are mining it like crazy you know they're getting basically these coins for free that's how yield farming kind of works and then that's why we have this insane movements right now and because everyone wants to beat each other to the chase this is creating a pretty negative space i would say overall because everything just moves so quickly if you want to follow up on all these yield farms you just got to be on the ball 24 7 okay this one's new this one's interesting okay look though who's behind it where's the code like um and you have to do these checks i actually have a video on impermanent loss as well because because of the rise of yield farming right so so many new yield farms coming up there are a lot more scams as well and one of the biggest ways to lose money right now and i've had friends that i talked about to them about yield farming i might go like do the safe ones without impermanent loss they go straight to the one with the biggest apys um just blinging around and then losing their money that is sad but anyways um there's a video on impermanent loss none of this is financial advice obviously but this is more or less of a warning of what can happen and one of the methods to lose money too so highly recommend you checking out this video and the series on defy as well the defy playlist has a lot of stuff going on on there so definitely definitely want to um yeah if you guys want to check it out impermanent loss is essentially with pools like um i'm gonna i'm gonna throw yulu under the bus here but if anything is paired like say these pools have 95 of a coin coupled with yulu but the problem is of course yulu prices can swing wildly and it's a situation where yulu i i i i avoided it for a while because of impermanent loss and some friends recommended it bought the top yet again yulu prices went down suffered some impermanent loss managed to get out yesterday probably yet again harsh lesson learning about impermanent loss yet again so it's like more and more farms are pairing their own coin with the farm itself which leads to the situation where you're so tempted to try it because of the higher gains but yet again if it slides down in value like this death slide over here it could lead to a lot of impermanent loss so yet again it's always about how to balance your risk and how to manage yourself so yet again it's not financial advice this stuff is extremely dangerous very easy to lose money all right um very easy to gain money very easy to lose money and it's just about finding kind of the balance between each so anyways my two cents check out that video explains to you what impermanent loss is how this can happen but yet again this is one of the situations where i i saw the slide down and i'm like okay i gotta back out i gotta back out this just you know like when when you're farming the best case scenario is when a coin just stays very very steady in value or maybe moves up slightly but if it moves up too much it's eventually gonna dump and this is one of the biggest problems with yield farming right now where because a lot of the supply the very early supply of a coin is very small it's very very vulnerable to price movements and we kind of saw this this morning so a lot of people probably reading my channel here uh this is a situation yesterday sashimi launched um sashimi launched and the price has just shot up to around five dollars five six dollars and this morning when miners came and woke up i think i think that we've seen seen this pattern too like around 8 a.m in asia time that's when miners dump we saw it out for wifey and we saw it out for wifey too so it seems like this time is a dump time so maybe you gotta maybe i gotta wake up at seven eight seven or six a.m to just like dump everything and then the other everyone else dumps causing this death spiral down so you saw the value of sashimi essentially drop from six dollars to a dollar so yet again it's one of those situations where i'm very careful talking about these things right now um but the cool thing about sashimi is obviously i didn't buy any of the coins i mined it um that's just the way it is um so some interesting things um about sashimi i'll talk very quickly about this because it's relatively interesting i guess um but okay first of all um basically the pools that i generally avoid is anything touching sashimi so if you're in the sashimi one or sashimi elf one these they have the big borders around them trying to tempt you into them and they have higher rewards but the high rewards come at a huge risk this is where impermanent loss comes in right so i know some people love to jump into these pools but i generally typically avoid them um yeah because of impermanent loss so if if the coin goes down by like 75 in value you're gonna take a huge hit on impermanent loss and it's not bigger then you kind of have these pools here with the much lower gains so you have the btc e for the usdte for usdc e you know these are more stable right these are eif uh stable coin pairs and this is a situation where yet again let's the apy is much lower but at least you can get you know some coins for free and that's usually where i'm at um you know i make sure that the like i try at least to analyze the contracts to see what the risks are just be careful with these contracts um there is a migrator clause in a lot of these sushi clones so if you want to talk about um clone wise right so if the contract is based on wi-fi then there is no risk of your funds being lost or whether not no risk but if it's like a one-to-one copy of the wi-fi contract then um the rules are different but for most new ones here they have a copy of the sushi contract and the sushi contract has something called a migrator there so it just uses uh okay maybe this one actually removed it huh interesting um i know for a sake was the one sake swap that had the migrator there so let me just very quickly show you or get that there uh let's see where's their website obviously oh there you go google doesn't really know what's what these days um you know that's a funny thing fun times um so there's a few ways to look at it um you can also look at their github but sometimes it's better to look at their um contracts there you go so k master is a contract um and then you can so the this this thing is the scary one so the the migrator is where you have to be very careful so a migrator essentially means that they can transfer your tokens out of the contract right so this becomes dangerous this is what i'm looking for if i'm actually doing any analysis on these projects in fact you don't you still don't want to be here you want to be on not the github but you want to be on the e4 scan so anyways they don't have a ready link so basically what happens is that when you're interacting with the contract you scan it with e4 scan and you can see their code and then you want to look for migrator clauses because migrators are the ones where they can just steal your um essentially all your money or your tokens outright right so essentially what happens is that a lot of these projects they put it under a time lock so there's a 48 hour delay before anything happening but if there's no time lock there they can just go outright theft and pull rug on you so just be very very careful with all this yield farming stuff um it's getting to a point where the amount of time i'm spending analyzing is increasing i'm almost like you know it's like i feel like this is a disaster waiting to happen it just hasn't happened yet but i feel like there probably would be a big scam sometime in crypto that would just steal all your funds and it'll leave a lot of people kind of um crying in a corner so just be very very careful about everything that's going on so we're finishing that well that's kind of the section on yield farming um in terms of the pools other pools i'm in i'm in cream as well recently they added a swap as well so a cream swap so literally it's a fork of balancer so you can put your tokens in a pool and you can use them to swap coins and that has been getting pretty good rewards so i'm mostly in cream now actually i'm in cream i'm in sake i'm not like a tiny tiny bit in sake uh even with the risks i just used um one of the you know higher end like higher reward pools with a lot of shit coins in there sorry if i offend you but um i'm in a little bit of sake i'm a little bit of sashimi swap um yeah i'm out of yulu i mean yv still don't want to forget that um but i'm yeah it's just like there's so many projects so i'm pylon apparently is ending very soon but i was in that for a long time so yeah i was farming up a lot of all this stuff um yesterday actually just in terms of yield farming i went and just consolidated a lot of funds um there was almost a point where i forgot where everything is and i think one of the strategies that i've been using is whenever i go into a new pool what i'll do is i'll screenshot the interface so like say for example if i go into a reward pool with cream swap um let me just connect my wallet right now why isn't this responding all right there it goes a little bit slow but let's say if i go into like the cream eef one i'll take a screenshot of this page and then i'll take a screenshot including the address and including like part um like what what i'm in or actually not not this one that this one this one should be it so um i'll take a screenshot off this interface like how many coins i have obviously i'm not showing you my farm because i don't want to reveal my address that's the typical rule with all these online videos there are some not you guys but there are some guys who are malicious and just try to track people down but anyways um yeah i'll be going into this like if i go into it i'll have a screenshot of the balance and the address into one screenshot save in a folder and i think that was the best way that actually saved my ass quite a few times i was like i had no idea i was in carrot i don't know what i was thinking but i was apparently i'm in this project like on this other farm called carrot and i was like i have no recollection of this luckily i had a screenshot i was like okay let me take my money i don't know what the hell this is so there's there's these times when you just blank out um because there's so many farms out there just consolidating all that is uh is a big mess so uh we've got gold silver analyst tell um please tell me bro if yvw pool is safe this is kind of the scary part i mean a lot of people are asking if pools are safe none of this stuff is safe that's why you get the rewards i don't know why people even ask this question there's always a lot of risk in there so if yeah and i think why if he doesn't even have weep pools right to my knowledge oh this one yeah so the weep pool you're exposed to a two percent impermanent loss risk right so you have to watch my video on impermanent loss so one of the biggest risks there is the price of yv going down in value so if it goes down in value you can suffer impermanent loss and also of course with all these smart contracts just innate risk this is why you're getting these insane apys i think a lot of people don't understand that risks in crypto is much much stronger they they a lot of people just want people to tell them yo this is safe go into it and you can make lots of money but that's never the case right that's never the case uh no risk no reward right just get your big boy plants on do the research yourself don't like never trust someone else to tell you if it's safe or not i think this is one of the biggest risks here a lot of people are complaining oh i don't have the time to to look at all these pools i make the time if you don't make the time don't do it like if you're not confident in yourself don't do it like that's that's a clear clear clear clear objective because if if you do it and you lose money you're just gonna go cry in a corner right but get your big boy pants on do the necessary research do all the research that's necessary it is your capital at the end of the day right like if i'm looking after my capital that's why i have eye bags that's why i've been up till like four like two three a.m sometimes four try not to touch four four is really dangerous but that's why i'm up like if you can't analyze the risks yourself if you don't know how to analyze the risks and you're not willing to learn please don't be in this space honestly this is not this space i made this post yesterday and i think it's absolutely true for every one way good way there is to make money in this space there's a thousand terrible ways to lose money all right this is i think that's the like a lot of people are arguing with me like oh that ratio is wrong but honestly you guys don't know half the crap that's going out on there there's so many new yield farms i get pushed that every day they're like oh check this out check that out like there are a million bad projects i do not even touch like there are so many it's insane so there will be i'm bound to be malicious developers out there um you guys have to do your own research on it and i can't stress this enough a lot of people don't want to do the research they're like oh i just have two or three hours i just turn off the tv stop watching tv do your research if you have to learn solidity like this stuff isn't that hard to be honest like um like i taught myself called a code at a basic level right um i came from a chemistry science background but i can actually mostly understand what's going on now if you look at most of the code i can actually start like you know comparing it's it's not the hardest thing in the world all right it takes the the cs50 or cs60 class on harvard they offer all these classes for free do it you know spend your time on it if you especially during a bear market that's when you learn that's the learner market like that's when you learn figure out what's going on and you learn some life skills too right so i mean i'm done with ramming i'm done with ranting on this all right so that's pretty much it for it um we got kalani says sleep is expensive um it is but at the same time like yesterday i was just like almost to the point of exhaustion right um i've been doing this for way too long and there's just way too many good opportunities that i don't i keep not wanting to pass up so yesterday i've actually just felt like emotionally low even though like i was making money i just felt like emotionally i was just drained so yeah i did have like a full eight hours of sleep last night i was just like you know what i'm gonna try to just sleep early and just get the rest needed and just like today i'm like pumped up i'm good to go i'm good to go um cs50 and that's that's the biggest recommendation cs50 is really good that guy's so energetic man there's two so yeah so so we have uh tristan bowers says i did cs50 as well um well-rounded definitely um this is the cs50 from harvard really really great one there's actually another good programming course from i think it was from yale like this is the craziest thing about education right now like all of this is free you get the same classes as these harvard kids right you're like you know you can have the ivy league quality education for free online on the internet why not you know um yeah jordan says i love cs50 that guy was super super um uh super energetic so the story with me and cs50 was i was actually in another course and i switched to cs50 and yeah it's just great just learning a lot um uh and jeff jefferson tank says how long does it take to do i mean it depends if you're depends on what stage you're at um yeah uh right now right now if you follow it's week one week two so it's probably i think it's like six weeks it's like a full semester so like a full university semester but something you can do is also you can watch the old videos if you're fast if you understand everything and you're just like every day you're doing it you can just get it done in like two weeks if you're if you're fast and smart like if you're if you really want to be intense and just like switch that stuff on and be like oh let me watch it and figure it out then yeah uh and joe one says all the harvard kids are doing online courses anyway exactly i mean how much are they paying for it right how much value are you getting out of it it's like all for free um there's another one from dan bunny um there's a if there's actually a blockchain course that's really good uh i forgot which one uh i think it's from edX um i think it's from edX let me let me just i've totally forgot um blockchain fundamentals i think is the one i think this is the one i think this is one and like it's self-paced um there used to be an option on edX you can audit the course so i'm the cheap guy who doesn't i don't really care about certs and stuff so i'm not sure if this is still the same because i used to be very very big on edX right so um i used to just like take all these courses when i'm learning and stuff and self-paced learning um back in the day you can just click the button to like audit the course like just watch the videos for free and um not pay money and that's what i used to do right you just like click it you don't get a cert at the end fine whoopee right who cares about that cert at the end you all you want is this right you want to get that stuff in your mind and do it the blockchain course is really hard though the one that i did was like oh write write a scrooge coin from scratch i'm like oh okay how like um you have to have a some fundamental understanding of blockchain and it's like it's pretty intense like week one was already super intense on this one uh uh um uh yabu automatics is a box money market up today night down for me is the american bull asian bear depends depends depends um uh i mean let me check the hang sang index so hang sang index is up today so let's just check yeah today we're we're staying mostly steady if you want to look at hong kong or asian stocks hang sang is relatively steady this morning uh not too much change a little bit up it's kind of funny like we're so desensitized from these numbers like oh 0.3 percent uh-huh but you know actually if you look at traditional markets 0.3 or less than percent is uh it's quite a lot uh fun times um uh we got a good question about blink courses how well do you think bounce platform will perform actually i'm in good contact with the bounce guys i'm actually added i'm just a kind of professional key signer there um okay so balance is actually really interesting it just came out of nowhere right uh it's trying to solve a lot of the things with uh i actually need to follow chandler so bounce is actually really cool because they essentially solve a few of the problems that uniswap listings are having so right now if a project tries to list on uniswap bots group that up before the general public the bots profit the public and then dumps on the general public right that's the biggest problem with the current situation with uniswap so what balance is trying to do is they're trying to kind of build the infrastructure to do that initial token listing and there's so many different options there so i tried bounce finance very early on when i launched when i was like a ratio of one to six for bounce and then there was a it was a fair launch etc now they're kind of building the next step for it so congrats on them for listing and then i'll talk to you a bit more about it later actually want to bring chandler and ryan onto this channel from bounce finance and also on twitter as well just giving a big congratulations to duck doll so this is kind of funny um duck doll made this insane video yesterday about the new duck incubator it features me obviously which is great i i was stunned honestly i'll give you guys some sound like how long does this take to make right like i've been in game development and like we make cut scenes right but this is like holy crap um i'm pretty pretty impressed lots of energy lots of effort this is why i like the duck doll guys um they got a huge huge community they got a good team um i'm i'm not the biggest space theme guy you kind of know me i'm like i'm not the biggest space theme guy but i fully respect them for doing this though and there's also like the the ivan on tech and box mining uh corner oh here here that's me on the corner uh thanks guys thanks thanks uh one day one day i'll have my face on that real wall if i'm not narcissistic but yeah it's kind of crazy how they did that so thanks to duck doll for that um so if you guys are wondering duck doll their incubator they have a great chat channel i'm part of them like i've joined them as well and i think one of the kind of key things about duck doll is um a lot of people are there for the allocation that's great but also i'm more in there for the the information um information is so key right now especially knowing like which chat channels are your positive indicators and which ones are your reverse indicators like making your own judgments on that is very important just finding like that kind of general vibe and getting that general information if like crypto is a full-time job like um i talked to a lot of people a lot of people actually getting burnt out by this and uh part of that is because you're collecting information but it's important to collect information so anyways if you guys want to check it out check out duck doll on that and some also interesting stuff i'm talking about coins as well uh you trust just recently launched their ability to purchase cryptocurrencies in turkey so that's kind of interesting i think this is actually like crypto adoption and growth if you want um so i saw this right so um you know i've been in you trust is one of my bags as well um i definitely told you guys about that and it's all about merchant adoption so getting people the ability to accept cryptocurrencies on their website on their platform essentially making crypto payments like paypal and for the longest time i didn't realize how powerful they were but now i kind of started to realize okay look as a payment solution gateway because they offer the ability to do refunds and to essentially do what credit cards companies do it makes spending a lot easier and it's like to a point when i shop online i'm like why aren't you guys using you trust so yeah there you go i'm turning into a big you trust show right now but at the end of the day hey if some crypto millionaires and whales want to buy a house and do right now one buy one in turkey but anyways i will actually want more kind of adoption at that front so we have some questions and answers let's do some q a um it's already been 40 minutes whoa crazy crazy so i showed a lot bunch of courses that's great definitely education is core i'm not sure how much time you can spend right now on education i get again it's one of those things i say right now like yeah right now it's like you want to have enough education background to survive and then at the same time you want to be in like every single chat pool and just soaking up information like crazy so there we go uh we got smarks killed wrestling says have you heard of hacker finance yep i have um very early on they have the black hole swap which is super cool um unfortunately their level of math is way above like uh my current understanding of it so it's one of the situations when i identify look i actually need to like understand a little bit more about how their mechanism works but i do know that this is something that's very interesting in terms of liquidity so black hole swap and also know that yfl is adopting something similar too so there you go um ken l says best place to farm wbtc with no impermanent loss who who good question so pylon was good for that um pylon is having a pool that's ending very soon with wrapped bitcoin so that was one of the the ways there so i'm not sure when it ends this is something i need to look up i was in one of the pools for that so um wbtc yeah so shield battery shield battery has wbtc there i'm i actually have to look up when it's ending so i heard it's ending soon so this was where i put most of my w wrap wrap bitcoin for a while on in pylon um right now i actually moved it so let me figure out if my memory is good enough i moved it to a wrap bitcoin eep pool so i think that was on sashimi so this is a lot more risky of course um but bitcoin and friends btc satoshi and his friends it's a wrap bitcoin and eep pool so you're going to be suffering some impermanent loss if um this pair moves so this is the eep bitcoin pair so if eep bitcoin pair moves you're going to take some impermanent loss and you also need eep but that's i have both and you get like a 20 200 so i'm like okay why not yesterday yesterday this number was a thousand so that was probably why you can tell that i jumped in but now because the point price is just dumped like crazy um yeah i get i got 200 so um that's pretty much there on jamming leases it's already ended oh that's too sad yeah so i was farming down just leaving it there on um pylon for a while and yeah pylon already ended so sucks to be i guess in that sense um ken el says yeah i'm on wbtc slash eep sashimi already yeah um you know you can't expect too much i think without impermanent loss you're looking at around 100 to 200 anyways um in terms of yield farming that's my two cents before i was also in yfv let me just check out the rates right now yeah yfv has a bitcoin ren btc rapid coin and uh two percent on impermanent loss uh two percent on the yfv so yet again it's one of the situations where it's higher returns it's around 240 but yet again you're exposed to two percent yfv i'm not sure if you guys want to get exposure to yfv or not so even with like that small exposure if price movements can be huge that could be a problem as well so yet again um that's why i'm not in the rapid coin pool on yfv anymore at least for the time being i'm upgraded to sashimi but in terms of yfv i'm in on these pools here so i'm on the bat and the ren pool so uh i have both ren and bath and i felt like okay look with these higher rewards it used to be a thousand now it's only like 500 so yeah rewards are dropping but i mean it's still it doesn't warrant me to take it out i guess at this current point in time so my two cents um yeah alex's yfv btc pools are approximately 200 i love how you guys are all farmers now like we all know the rates off the top of my head so yeah we can get like 200 percent there you can move it there boom boom boom boom boom boom like that's crazy guys like just within that one month like we all became farming experts it's it's kind of crazy uh joe strand also says two percent uh really small though right um even if it's two percent um say why if you went up to a peak of 75 dollars and right now it's at 16 so that that dive down especially if you're saving a larger percentage could mean quite a lot so i don't think yeah i don't think that 200 justifies um that write down so if you wrote like i think i wrote it i wrote from 75 um dollars yv to 50 on the wbtc pool but i pulled out around 50 i'm like i just can't take that anymore impermanent loss can get very real very soon so um yeah like being able to kind of watch a price is important uh in symptom praxis is what happened to yulu um death spiral right i mean the problem with these is that people push up the price a lot and then they can't sustain it when the new mines come up people just dump it every day so even with the five percent um it's unlikely that you'll make money here so yesterday i did clean house and i just removed any yulu pools i'm in um i did go into two so i was avoiding yulu for the longest amount of time you saw me on monday i'm like i want to avoid yulu and on tuesday i sent a tweet out saying oh my god maybe i'm gonna fomo into yulu just to try but yet again it's one of the situations where um yeah the fomo got the better at me it did not work out that well luckily i wasn't in any of the big pools i was actually in the lend pool so lend pool actually has super high gains so i didn't really lose anything i think um in terms of miners mining i was in lend i was in also con pool so these are two more rare pools with higher yield but yeah i think people who are in like any of the smaller pools um probably potentially could have gotten wrecked so yet again crypto you got to be smart you got to be super smart you got to be like 10 times smarter than everyone else pretty much you got to be like sam it's like it's just to a point where you just gotta like put a picture of sam up every day and be like yo i gotta be smarter than that guy yeah you know just be smarter than that guy and then you win um we got nip nip nip nip says i'm sorry for repeating myself can we please get a telegram link michael so not today so on friday stream we don't give out uh we don't open a telegram chat there's been a lot of we had to do a lot of house cleaning this week um a lot of people were just like you know um there are quite a few rules on a telegram group that's like we don't want to be blatantly shilling projects if you want to show a project at a site you see when you got into it no forwards etc so we were mostly cleaning house this week trying to get the level and the information provided by the telegram group group up that has been my biggest kind of objective so i definitely appreciate you guys asking for an invite um i really want to get you guys in but we'll do that every monday so during the monday live stream we'll do that and make sure um that the chat quality is super high so it's not a paid group i think that's the thing i wanted to avoid i don't want to do paid groups but i wanted a way to keep the level of information there super high so that's kind of the rule right now so we just open the chat once in a while for people to get in so and in that respect too um if you guys are interested in joining do check out the month um the live stream for um on monday please let me just double check that let me make sure we're okay so let's see how do i create one let's see let me create let me create a live stream for you guys so you can check it out on mondays and i'll put the i'll put this here so my streams are on friday and on monday hong kong time 11 a.m and let me just make that tweet there and if you guys click the you know notification squad big thank you to all the notification squad guys by the way um being super crazy super fun uh put that there and then we are on monday at 11 a.m we'll meet you guys there that's gonna be fun all right so that's set up right now and then we are getting done so that's pretty much it for today's episode really i actually really need to go to the bathroom probably didn't shouldn't tell you guys that but you know i'm human so um yeah i'm just kind of enjoying this time now um dave lock asked did you migrate lp with sushi yeah i did i followed them through the lp migration i'll have sushi swap lp tokens so sushi swap actually did build up build up and pretty pretty okay price is kind of dumping a little bit um but that's expected you got you guys have to realize with all these new projects um coming out that there there's an insane amount of new supply going in every day right sushi is one of those miracles i would say that created so much value so quickly but at the end of the day um i farmed it that was fun that was great um you know uh sushi but now there's so many competitors as well so i really want sushi to do well because it's the first and i know sam will probably be a good caretaker for sushi right now after the whole chef know me debacle i don't really want to talk about that now that's such a big disaster but anyway so if you think about it the market cap right now is around 198 million dollars for something that's like less than two weeks old that's pretty insane and the pullback on this is pretty insane too i think a lot of people got caught up in the hype you know when sushi went up and shot up to ten dollars that was insane and it dumped all the way down and there's rumors now that a lot of the exchanges are getting a lot of flack for that right so we kind of see that trend um just to catch up with that trend as well so we definitely see binance slowing down the listing process so after the sushi debacle that's kind of funny cc had to post a few tweets explaining the whole sushi debacle then you know that it's proper on their agenda right you know that when they're addressing these issues this is a big issue and this is very likely why they're slowing down their listing process this week um because yet again they don't they don't want to have that negative pr so very interesting how this dynamics playing out um yeah pretty interesting but anyways this is one of those times when you have to realize that um you know with a lot of these coins people like to get excited because the initial circling supply is low but as the coin gets mined think about it this way right if it's if x coins be mined for an hour then in the second hour the supply will double that's scary that's super scary so you have to realize that this is part of the dynamic of these mine coins so if it's like only be mined for a day on a second day the supply will double again and can that demand match the supply and this is the biggest problem that we're going to face for the next few days so anyways that's kind of the case with all these mine coins guys thank you guys so much for watching uh michael rosselman says do you think sushi has a future absolutely absolutely i think the reward mechanic is better than uniswap and right now we're seeing so many uniswap competitors for that reason because people are realizing okay look having a reward mechanism there mechanism having a token utility token there is powerful so anyways i definitely think sushi has a future but yet again what price would it be at is now the biggest problem how much is that worth and i saw people calculating with like you know total value traded total value locked and all that stuff and trying to make a reasonable assessment of it but yet again it's so hard to do so because right now you know with all the hype going on you know how valid is that you know you can write a long report sure but does it really have any value should like if you calculate the supposed value of sushi to be like a few cents is a good idea to short it who knows because right now in this market we learned from the zeus capital that the fake zeus capital rather idea that you know shorting link was not a smart idea all right anyways guys that's a fun fun talk swallow today um uh um that's pretty much it um pyramid 2017 says stick to shilling wbcc and stable coin pools i mean sure sure guy sure there's so many different people so many different strategies out there um you know just to kind of balance that out i feel like a lot of people are trying to tell me what to do uh what to say a lot of this is firsthand experience and i kind of just tell you guys what i'm doing um yeah i don't really filter that much i think there's a episode where people get angry and then they i thought oh maybe i should filter myself for a while but i think it's kind of nonsense really to be honest a lot of people are trying to influence what i say but or what i do but it's really and again what i say is what i do right i'm not trying to lie you're trying to um make up anything am i in other pools absolutely am i in a mixed pool yeah i'm in a sushi eve pool yeah i'm in actually a cream pool um cream and liquidity pool i'm absolutely in there and that did super well so it's a situation where a lot of people are trying to push their own agenda and i don't really have much of an agenda myself i just want to make money um it's pretty clear and yeah um definitely appreciate your feedback but no thank you for telling me where to go and what to do um yeah so not financial advice of course too so there we go um yeah a lot of people asking about different coins i i really want to do more coins talk um it's just a situation where farming is taking up most of my time right now uh that's just the honest truth i've cut down a lot on video production just simply because it's a lot more um money yeah it's just a simple truth i've been telling you guys that i try i'm trying to stick to the monday and friday ones i'm trying to do some defy stuff recently i did the video with linear capital i think not linear capital with linear finance and i think that was pretty cool just i talked about the general defy trend and everything um i'm trying to do more but yet again it's one of the situations that for me to make a video it takes so much time my time which i need to actually manage farms so i'll try to do more this weekend i'll try to do my other all coins and stuff and what i'm holding but you guys can clearly tell that i'm farming a lot and that's been a huge huge revenue generator for me so i'm really lucky on that respect and really thankful for the time that i have right now so anyways thank you we got takashi itos it's welcome to team crypto welcome welcome congrats uh thanks and i think it hasn't really changed that much i'm still holding a lot of bitcoin i did move some bitcoin to ethereum to rent btc wbtc but they're still in bitcoin i didn't really sell that much bitcoin um i just don't see the need i'm still believing bitcoin in terms of what it's trying to give a value but yet again i want to extract as much value as i can during this market time it just um for me it's just um not a no-brainer right now i think a lot of people um like you look at the market and a sentiment on why they're chatting um a lot of people are very negative on yield farming and that's expected because yield farming took a lot of thunder and attention away from different other projects that could be also popping at this time so very likely some people are wondering why their bags are not pumping and that's because of yield farming absolutely so you can see that kind of like negativity towards yield farming but there are some value points there's a lot of plazinomics going in on yield farming and right now i feel like the the rates are not sustainable and the growth is not very sustainable either so um i'm not gonna like sugarcoat it in any way i felt like this is the same thing that happened during the whole icl rush people who were in icls didn't really weren't very critical of it because they wanted to continue growing and the people who are critical about icos obviously they're correct in identifying that it cannot last and this is a situation where as a yield farmer obviously i want it to last as long as possible because i'm making money but at the same time i know that this is not sustainable it's good it's gonna go out very very bad very soon um yeah the negative trends are there the the hype the greed is there it's not gonna end well it's just simple as that it's not gonna end well um i take profits whenever i can um and i just withdraw whenever i can so be safe be cool um that's my rant on it it's not it's not gonna end pretty absolutely not um it's way too much greed um a lot of people think they can stop the greed like a lot of people think of people who create content like me as influencers i hate that word but they're like oh you influencers should stop the markets you're responsible you cannot stop the market for what it is market cycles are gonna go on regardless of how many people try to stop it i'm not gonna be a peter schiff just like sticking my head in my sand either right this market is gonna play out the way the market has always been played out it's a free market nothing that you will do or say will change the course and flow of this market it's just whether or not you are smart enough to be part of something that's good and avoid something that's crap that's just the way it is and uh i think yeah i think a lot of people are trying their best to to make something different out of it it's not gonna end well it is gonna end um and it will blow up but yeah for now control your risks that's life life is life guys so guys thank you guys so much for watching today i know i ranted a lot but i hope that was valuable knowledge to you guys um if you guys are new or into this make sure you smash up the likes let's get up to like 150 likes i think that's that's cool right we have like 200 400 people here so yeah i've definitely been speaking to a lot of people about this too and um something interesting is um just a heads up is that i'm researching a lot into different projects as well at this current point we know that ethereum is very very clogged up it's not that i'm not an ethereum believer but i believe that their ecosystem needs to be bigger we need to have different values so yet again it's just a situation where i'm actually taking a serious look at polka dot um it's to a point where i was kind of put off by looking into polka dot because it was so hot in china right so i'm like oh my god it's a china show i mean it's how long is this gonna last right but i think something someone something that someone pointed out was that eth ethereum was also a china show it's one of those projects that literally they took metallica around china talking to different investors um that's what fambushi was for that's what a lot of my fambushi's guys like you know they they were very early into eef and they pushed it really hard in china so there's the same case of polka dot uh so initially i was put off but now i'm like okay you know what let's take a good look at polka dot i'm actually like really looking at it as to see if there's a lot of value so expect videos about polka dot coming out very soon and also radix as well so radix it's a blockchain built for decentralized finance which is very interesting so they have a few features i think the primary feature here is about scaling but scaling in such a way that all the contracts will work together so it's a slight difference i guess i'm very technical but the way scaling is going to work for ethereum that's coming up is with sharding so they're going to have different shards but projects need to choose which shard they're on and speaking between these shards become an issue and radix is trying to solve that so anyways um that's kind of the sense there um kalani says need eef 2.0 to be good i want eef 2.0 to be good i'm super excited for it but at the same time i'm keeping my expectations very low for the release date of eef 2.0 um it's just the case that these things take a lot of time i don't think it's going to come in this bull market that's just the unfortunate fact um like even with eef 2.0 launching it will launch at phase one and phase one is just the beacon right so you want it to be hit phase two or actually not phase two phase one so phase zero is what's going to be at right now it's a programmer speak they count from zero not one so phase zero is the one that's launching phase one will be the one that they're going to try out sharding but yet again phase one can we expect it within this current bull market season that's hard to say that's hard to say so we'll have to see what's going on anyways um that's pretty much it for um for today thank you guys so much for watching remember to smash up the likes um nicholas potter says radix will be epic to be in development since 2013 nice nice that was even before d5 but now they have even more d5 features in there right cool and matt madison thank you so much uh for joining takashi thank you so far so much for joining our channel um yeah thanks guys for watching i'll show you i'll send you the links for next stream again uh let's see i got a shareable link uh and then we got casey babes is your 100 bomb right dot info plus ye ye gotta i gotta send out some dot info guys so yeah that's a stream for next time make sure you guys um click the like button um yeah set the reminders we'll be there thanks so much guys for watching make sure you check out the podcast as well we got the podcast going on bitcoin out of the box just search for it it's got my happy face there it's um it's gonna be great thanks guys so much for watching see you guys next time