Bitcoin, Keep3r, Cryptocurrency, and Ethereum Update
Description
Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analy...
Latest Bitcoin and Cryptocurrency news and trends. We take a look at the key events affecting the blockchain sector and review market movements. Combining both fundamental analysis and technical analysis to give you full coverage of the crypto space. Find out the latest developments in DeFi and yield farming. 0:00 Introduction 4:41 Market and news recap 11:10 Keep3r Network (KP3R) 22:22 Project financing: traditional vs crypto 25:30 Harvest.finance ($FARM) 34:29 SWAG Finance ($SWAG) 36:35 Base Protocol ($BASE) and rebase tokens 38:19: Recent calls? Wootrade ($WOO) etc. 41:12 xDAI Stake ($STAKE) and HoneySwap ($HNY) https://podcasts.apple.com/podcast/boxcast/id1490037766?l=en Spotify: https://open.spotify.com/show/5iHcN9jfQwpKTbT37tS0zQ ●▬▬▬▬▬▬▬Recommendations▬▬▬▬▬▬▬● 🍖Buy & Sell Crypto: https://join.swissborg.com/r/michaeOQZM 🔎Crypto Prices: https://www.coingecko.com/ 🔒Hardware Wallet: http://boxmining.co/ledger 👍🏻Brave Browser: http://boxmining.co/brave 📲Binance Exchange : http://boxmining.co/binance ●▬▬▬▬▬▬▬▬▬▬Community▬▬▬▬▬▬▬▬▬● Boxmining Official Website: https://www.boxmining.com/ Discord: https://discord.gg/T3TrTRa Telegram Discussion Group: Currently private Telegram Announcements: https://t.me/boxminingChannel Facebook Community: https://www.facebook.com/groups/CryptoSpartans/ ●▬▬▬▬▬▬▬▬▬▬▬Social▬▬▬▬▬▬▬▬▬▬▬● Instagram: https://www.instagram.com/boxmining/ Twitter: https://twitter.com/boxmining Facebook: https://www.facebook.com/boxmining Steemit: https://steemit.com/@boxmining ●▬▬▬▬▬▬▬▬▬▬Disclaimer▬▬▬▬▬▬▬▬● I'm not a professional financial adviser and you should always do your own research. I may hold the cryptocurrencies talked about in the video.
AI Analysis
Hey there! This video dives into the latest crypto market happenings, covering everything from Bitcoin and Ethereum's current standing to the wild ride of new DeFi projects. It also touches on some seriously interesting developments with traditional finance entering the crypto space and a deep dive into what exactly Andre Cronje’s latest project, Keep3r, is all about, along with a crucial discussion about a recent DeFi exploit.
Here’s a breakdown of the key stuff:
* Market Overview & Shifting Bullish Sentiment: Initially, a cautious stance was held, but now a slight shift towards a more bullish outlook is forming due to recent events. This was a smart move, as having stablecoins ready allowed for re-entry into positions when the market dipped.
* Big News from Traditional Finance: There's a big buzz around major financial institutions stepping into crypto. DBS, a large bank in Singapore, accidentally leaked plans for a cryptocurrency exchange called "Digi X by DBS," which looks pretty legitimate. On top of that, PayPal is clearly moving forward with its crypto buying options, with screenshots of their platform appearing, signaling a significant entry point for mainstream users.
* Public Interest & Market Performance: While there's exciting news, the general public's interest in crypto (judging by Google search trends for "Bitcoin") hasn't yet reached its previous highs from May, suggesting we might not be in a full-blown bull run yet. Bitcoin has been surprisingly strong, holding steady around $13,400 and outperforming Ethereum in the short term, which dipped below $400.
* DeFi Pullback & Profit-Taking: The DeFi space has seen a significant pullback recently, with many projects like Reserve Rights (RSR), Yearn Finance, and Ocean Protocol experiencing drops. This is likely due to large "whales" (big investors) taking profits, especially those who acquired tokens at very low prices (like 5-10 cents) for projects now trading much higher. There’s concern about "dumpamentals" where early investors could significantly impact market prices by selling off large holdings. Despite this, the overall market is considered healthy, with Bitcoin and Ethereum leading the charge.
* Keep3r Network (KP3R) – The Wild Ride: This project by Andre Cronje, the mastermind behind Yearn Finance (YFI), experienced an absolutely insane pump, rocketing from $1 to over $300 in a week. It’s highly speculative, and the immediate hype is driven by Andre's name alone. The project's actual purpose is to create a decentralized network of "keepers" who perform off-chain jobs for smart contracts. These jobs can range from simple tasks like harvesting strategies on Yearn Finance to rebasing tokens, tasks that currently require manual execution by developers.
* The Keeper Token's Purpose: The KP3R token acts as a reputation system. The more tokens a keeper holds, the higher their reputation, allowing them to take on more sensitive jobs that require trust, like harvesting from a Yearn contract where front-running could be an issue. However, the documentation for Keep3r is incredibly weak; the best way to understand it is by listening to Andre Cronje's own interviews.
* The Reality of Keep3r's Rewards: The expected rewards for keepers performing these jobs are not ridiculously lucrative. They're designed to be perhaps 10-20% above gas costs, meaning maybe $10-$20 per job, not millions. It's intended for developers to automate their tasks, not for manual human intervention. The current price is driven by hype and "ponzinomics" (requiring binding KP3R with ETH), not strong fundamentals or high job profitability. A personal anecdote included "aping in" (buying without research) a very small speculative amount at $26 and taking profits on the way up, advising caution as it might be too late to enter.
* Traditional vs. Crypto Project Financing: A striking comparison was made between traditional startup incubators like Y Combinator, which offer $100,000 for 10% equity (valuing a company at $1 million) after a lengthy process, and crypto projects. In crypto, a single developer like Andre Cronje can launch a contract, and within hours, it can reach a market cap of tens of millions (Keep3r hit $47 million market cap in the first hour), with millions in liquidity, simply because of who launched it. This highlights both the incredible speed and funding potential in crypto, but also the extreme irrationality and speculative nature.
* Harvest.finance ($FARM) Exploit: Harvest Finance suffered a major flash loan attack, resulting in approximately $24 million being bled from its USDC stablecoin pool. The attacker exploited a tiny price discrepancy in how Harvest interacted with Curve Finance's liquidity pool, repeatedly abusing the flaw 17 times within four minutes using flash loans (large, uncollateralized loans that must be repaid within the same transaction). This highlights severe engineering oversights by the Harvest team.
* Defensive Stance in DeFi: The Harvest exploit reinforces the high risks in DeFi. The presenter has adopted an extremely defensive strategy, sitting on funds rather than actively farming and even moving all ETH to a fresh, clean Ledger account to avoid any potential vulnerabilities from past contract interactions. The yields in yield farming are currently not as great as before, making the high risks less justifiable. While friends who farmed for over a month might have made back their losses, the advice is to consider taking funds out if over-leveraged or concerned.
* SWAG Finance ($SWAG): SWAG experienced a significant price dump but has since hovered around 10 cents. It's considered a "real business" in adult entertainment, which provides a more stable foundation for generating profits, unlike many purely speculative crypto projects. A personal re-entry at 11 cents was made, indicating a long-term view despite short-term price volatility.
* Base Protocol ($BASE) and Rebase Tokens: A debate was held regarding rebase tokens (like Ampleforth, Yam, Base Protocol) and their long-term functionality. While personally skeptical about their future utility, acknowledging short-term potential and the conflict between "being right" and "making money."
* Recent Investments/Calls: A bigger investment was made in Wootrade ($WOO), which aims to combine liquidity across exchanges. CertiK ($CTK), an auditing firm, also launched a token, but it didn't generate much fanfare, leading to disappointment despite the legitimacy of the firm.
* xDAI Stake ($STAKE) and HoneySwap ($HNY): An early position was taken in xDAI Stake at $3, riding a significant pump and taking profits. HoneySwap is described as a Uniswap equivalent on the xDAI chain. Currently waiting for a good re-entry point for both.
* Community and Tech Musings: The video also touched on community aspects, promoting the Discord channel for discussions (as the Telegram group is now closed to prevent spam) and an NFT giveaway on Gleam. It also included personal tech interests, like trying the Oculus Quest 2 VR headset (despite getting dizzy) and excitement over new AMD and Nvidia graphics cards, highlighting the incredible advancements in computing tech this year.
Transcript
live guys i think my audio has let's try and see what's happening here have some audio off nvidia brock okay so i've set it to normal mic and we should be ready to go so welcome back to another episode of box mining so it seems like i don't have noise cancellation today which is weird but anyways let's get on with the show so today we're going to talk about bitcoin keeper all right a lot of people ask me you know why did i not talk about keeper what is how is keeper it's a new andre crony proje...
live guys i think my audio has let's try and see what's happening here have some audio off nvidia brock okay so i've set it to normal mic and we should be ready to go so welcome back to another episode of box mining so it seems like i don't have noise cancellation today which is weird but anyways let's get on with the show so today we're going to talk about bitcoin keeper all right a lot of people ask me you know why did i not talk about keeper what is how is keeper it's a new andre crony project it's like the most searched term right now it's crazy right it moved literally from one dollar to three hundred dollars over this week and we'll cover it but obviously warnings ahead it's it's um entirely speculative in my opinion but we'll we'll talk about what it is i actually did a deep dive into what keeper actually does and we'll fill you guys on the information on that then of course we're going to talk a little bit about why i'm a little bit more bullish so i'm starting to move into a slightly more bullish territory i said to you guys on monday a little bit that you know i'm a little bit more cautious but now i'm moving slightly more towards more bullish spectrum and that's because of some of the recent events that's happening around here but of course with some caveats so yet again this is a great update episode so that's pretty much it we're gonna do a little bit of update on the markets and everything and we're gonna have a little cool chat it'll be nice cool relaxed we also had a few cool debates on this weekend so if you guys i'm not not on it was already played already but if you guys want to check that out there was a really good talk about rebase war it was um i went at him hard on this this is all about rebasing the concept you know you guys probably heard of ample for if there's base protocol there is xample there's like a million different rebasing tokens like even yam was one of them but we actually talked about the kind of use use cases of rebase for targeting particular price indices etc and how base protocol fits into that and i hit him hard with a few questions because i fundamentally question the value of having rebasing tokens anyways that was a great debate um it's one of the first ones here so you guys enjoy that style of debate where i do hit hard at some fundamental points do you know kind of really um you know not be nice i was like being not nice box mining and you know nice box mining i chose to be not um not nice box mining so you know that was fun so anyways i hope you guys can catch up with that and we are taking a look at everything else here of course guys if you're just coming into this episode make sure you hit up that like button so make sure you smash that up for us to get started and it does really help the channel it's a youtube thing but i just need to keep reminding myself ask people to hit up that smash button because well hit up the like button but yeah it really does help this channel and of course guys if you guys haven't checked it out already we have bitcoin out of the box so this bitcoin out of box you can search for on anywhere so it's on apple podcast it's on google podcast it's on spotify just search for it but bitcoin out of the box it is my podcast recent episode is about privacy on blockchain with professor don song it's super legit uh yeah you'll be amazed at how much craziness uh that can go on when it comes to blockchain plus privacy exactly basically solves issue with front running it solves issue with kind of sharing data as well this is kind of the next interesting application i would say of blockchain technology because we've seen you know how we can do decentralized smart contracts decentralized finance but what about privacy based versions of that like can say facebook and google share data but without revealing any of the intricacies of that data that would be pretty interesting right so it kind of solves a lot of privacy issues where you know if someone wants to query okay how many people live in hong kong who have cats this can be done in a private fashion where the program looks at the data but it doesn't reveal if the individual who the individuals are who have cats i mean that's kind of a lot more less intrusive than what's happening right now but anyways that's that's a story for another time and we're gonna go check that out so we're gonna start today's episode with the market recap first of all so we did go down so yeah i'm smiling a little bit because i did go back into bitcoin and ethereum just a tiny just just just a tiny little bit this week especially with eef so eef has all dipped to 385 so it's actually below 400 right now and uh yeah so it's dipping a little bit and this is where like yet again i said i said i had i had a reserve of stable coins last stream um it was rather hard to say because you know in in this market we we always like people being bullish right this is the the kind of like i i want to be super bullish too but at the same time i wanted to make the strategic smart decision so it's a case where that did work out very well so i did re-enter a few positions stacking back up and one of the reasons why i'm doing this also is because there's actually quite some bullish news on the asian front as well so dbs it was rumored so this this was like okay so dbs creates buzz with its plans for its cryptocurrency exchanges from business time so there's rumors right now rumors it's not okay now now it's got blocked because of brave but anyways you guys saw okay we can look at the block crypto so it's one of the large banks in singapore and they've known they've been known to be crypto friendly and all of a sudden they accidentally leaked the page this was the page that they leaked that's how it's a digi x by dbs and it looks pretty legit this was leaked on their website so just for a few split seconds there we i didn't manage to save it okay i don't i didn't have personal proof of it this was for a split second someone took a screenshot of it but it was definitely an accidental release accidental accidental all right but anyways regardless of that it's very very clear that also there's some movements with more and more banks and we all had paypal last week all accepting entries into cryptocurrencies and we saw this week a few screenshots and yet again this is not sure if it's leaked or not but some screenshots of paypal's version of buying crypto and that's pretty cool so that's what's making me a bit more bullish what i'm looking for are two fundamental things one is public interest in crypto so more search terms this not so much okay if you look at bitcoin trends or searching bitcoin search trends it's not too much it's it's really it's really still not there so i'm not i don't think it's fully confirmed yet like look at look at the search term results so we have it picking up but it's like it's it hasn't even topped may levels yet so if you really want a big big run up right if you want a big run up if you look at the past five years and how crazy this run up was right this was utterly insane so we could be here we could be here where you know in search interest could have dwindled for a while and then it shot up again i think this is what everyone's hoping for but we still have don't have that full confirmation yet it's still mildly weak in terms of search results for bitcoin ethereum general cryptocurrencies and because that's kind of interesting that's that's you know that's interesting information i'm collecting in so i'm kind of i'm kind of like the way i would describe myself it's like i see on twitter everyone wants to be bullish and that's kind of when i said okay look i want to look for the evidence of this i don't want to just get caught up in a storm i want to make the smart logical decision here and that's why yeah that's why the way it is so we have okay so bitcoin is actually stronger it's performing even stronger than ethereum right now it's at 13 400 so it's kind of staying there it's staying in that 13 000 range at this current point now we do have some blood baths in the kind of lower lower top cryptocurrencies right so it's kind of we have a little bit of a pullback happening and the past 24 hours it's been more down than up if you just kind of stack it here it's very obvious it's just like one button click but i can see that yes we do have around maybe roughly like 12 cryptocurrencies that are going up but the cryptocurrencies that going down is a lot more especially in the defy space defy also took another big hit this few days in fact yesterday so reserve rights rsr went down year and finance also went down some fedex went down ocean ava band these are all defy projects and yet again there is some bearish kind of movements there and a lot of this might be due to profit taking we've been kind of hearing kind of rumors that big whales especially in singapore there's a lot of big funds that invested in defy in singapore they're just taking profits right so that's kind of what's causing and triggering the bullish um the bearish momentum rather and defy really took off very very fast right it took off like crazy fast the hockey sticked up so yeah yeah again not financial advice but we're hearing that people with very cheap tokens say for example if a project's currently trading at what two dollars there are big funds that purchase large chunks of choke tokens at maybe five ten cents each you really got to do your due diligence and find out what these big funds got their prices um got their coins at because if they're holding a lot at a very cheap price where they acquire that cheap price that could mean very very strong dumpamentals that's kind of what we're talking about so now the dumpamentals are really showing its face very clear that there are lots of uh negative momentum for the time being on decentralized finance so that's kind of the current situation that's happening right now now taking a look more at the overall market i still say we're in a healthy state i think it's still the the current narrative i would say it still holds where bitcoin and ethereum they're becoming the kind of main leaders that everyone's watching bitcoin made some big moves especially because of that recent news i'm talking about dbs with paypal with lots of entry points into crypto bitcoin being the most well-known cryptocurrency and then of course we can see that slow kind of sharing of the wealth going to the other cryptocurrencies there so that's kind of the case right now so anyways guys make sure you smash up the likes let's keep getting some more views so we'll talk a little bit about keeper keeper is uh interesting discussion interesting to say the very least so i'll tell you a little bit about my story with keeper first right so actually i'll define what it is so so keeper is this cryptocurrency here it is been the biggest and craziest pump off this week it's been absolutely insane so if you see it it really started off here um let's zoom out a little bit so it started on wednesday for me so wednesday at around six this is when i got listed on coin gecko and even before that so when it actually launched and uniswap it actually launched at around a dollar per token so by the time it went on coin gecko which is literally around 40 minutes later it shut up by 27x already and to this day right now it's actually moving to roughly around 284 so there's there's a lot of speculation there let's say and that's really that's really understating it this is like all out crazy amounts of speculation so i don't really want to over emphasize this too much i'm going to try to be as neutral on this topic as possible so so why did it get so much attention why all this hype is because this is a andre kranie project so if you don't know who he is he's the mastermind behind the first wifey so the wifey one the or the original the real one if you want to say it anyways he he was the one who created a project and that project well took off to insane levels if you actually look at it it's it grew you know from zero to 300 and 300 million market cap right even though the prices has fallen down recently it's still 300 million dollars the market cap in the space of two months right and in fact it went more crazy than that because it kind of led the whole defy space right that's why he got so famous so yet again when andre puts up puts out a contract everyone runs to it that's kind of the way it is regardless of what this project is so it's kind of interesting i'll tell you a little bit of my story this actually popped up for me i was um thank you guys on chat um sid and everyone else um you know rob and um so it was it popped on telegram for me because i was working at that time and people were like okay andre released a new project we don't know what it is but let's ape into this so ape being being a term of like just whatever click button and go so i'm not again i'm not sure if i should promote this type of behavior but yet again i do i see it's kind of hard not to it's kind of hard discussion right because everyone's very speculative in the state and at that time when i saw this project i mean what is it right before i buy but the problem was the price was increasing but by roughly a dollar per minute right so if it starts off at like one dollar it was going up every a dollar every single minute so every minute you delay it becomes a minute wasted right uh one extra dollar more so yeah so it's one of those situations where i did admit to ap into it before i knew what it was but only with very very small amounts speculative amounts um so i did have an entry at 26 dollars but on the way up i did take my profits um and took that out now it's actually time to figure out what it is and what it is is actually not very simple at the end of the day so keeper is about doing jobs and they did the worst case of documenting what they are doing but at the end of the day these jobs can really range from simple clicking of contracts say for example the the one that andre gave himself in an interview was say for example when it comes to wifey there are strategies and these strategies needs to be harvested once in a while so right now it's a manual process someone just has to go every day to click a button and say look i need to harvest this now andre doesn't want to do it himself every day it's it's nonsense right if it's a manual process just go and click every day so this is where the jobs get um done so these create situations where you can potentially give jobs to a decentralized network of so-called keepers and keepers are the ones who execute these contracts so it might be something very complicated like harvesting on keep on you uh on wifey or it could be something very simple like once in a while rebasing a token you know that's kind of like every single there's all these daily manual actions that these programmers need to perform and eventually um they don't want to do it themselves every day because it's just a lot of maintenance so that's kind of the idea behind keeper anyone can add a particular job for someone to do and you can add the documentation the job name etc and also the job address so this way you can confirm on chain that a particular job has been done and in terms of why there is a keeper token it's keeper tokens really just for reputation so if a job is quite sensitive so for example in a case where you are collecting or harvesting from a wifey contract because that could impact prices of different currencies and lead to front running situations you want the keeper to be not a douche right some douche bag might be able to issue a flash loan front run the operation and make a bunch of money so this is kind of where the keeper token comes in where the more keeper tokens you have the more reputation you have in that space and then you can take higher end jobs that's kind of the best description of it i would actually say that the documentation for this is super super weak i actually spent some time trying to figure out what it is the best way to do it is actually just an interview on youtube from the big man himself from andre himself i'm just andre crony a keeper there's let me see all right this one this is one with the discussion on keeper this is the one you want to watch so discussions synthetics discussions about keepers with andre crony from creeper.network this is the one you want to watch to find out what the hell is going on because if you search right now on media like any sort of media they have no idea what is happening i think this is a situation where you just want to watch that interview and you get 100% what was happening i'll i'll give you an example i saw this this morning um i was searching up how to what is keeper right and uh let me see the news uh let's see the news uh like these guys have like oh it's taking the market by storm they talk about the price evaluation but they have no clue what this is it's like it's all degent okay um it's very very technically oriented this is why it was a little bit more hard to describe what um keeper is so if you guys want to understand a little bit more about it just listen to it hear the big man himself this is the interview to watch is released the 22nd so a little bit a week before it's the it talks about everything token use case kind of jobs that they have he lists out pretty much all the details on the token tokenomics and of course there's also ponzinomics on this rear you have to bind keeper with eef which is what's kind of creating this hype it's both hype and ponzinomics that's creating this crazy hype up so yet again it's a situation where i would say at this point the fundamentals value value very little and most people are just buying either into the hype or off the hype so it's kind of a crazy situation there i'm gonna be as neutral as possible i've already took my profits already so you know thank you andre for i think pretty much a new iphone i would guess but it wasn't that much like i didn't put much in i did so that's where that's where the dgins are at right now i think it's already quite late right now the prices are dipping a little bit i saw some people who wanted it to go shoot up to thousands of dollars but i would say one caveat here is that the use case of keeper is very very technical and the profits might not be that much so if you're the kind of the way to describe it and yet again just watch the video they're describing executing a contract and the keeper will get you know not ridiculously rewarded for that so say for example a contract might be very complicated it might cost a hundred dollars to execute maybe the keeper gets paid 10 or 20 dollars right so that's kind of the job levels that it's at and the kind of the core design of it isn't for a person that isn't for a keeper to be manual it's designed for developers to develop their own code to kind of execute around these jobs that's why it's like it makes sense if you can get 20 dollars every day uh for a month like kind of doing a keeper job that's kind of maybe what it could be good for but just be careful it's not these jobs aren't ridiculously lucrative generating millions of dollars per day right this is something that's like he was saying something like 10 above gas costs that's kind of the rewards he's expecting to give out to these keepers so yet again how much is that keeper reputation worth and in the interview there were very there was very very little speculation on it because at the end of the day the system should be you know for this community of developers and it should be self-rewarding by itself so yet again not sure if he's downplaying it or if the system itself is really it's more for developers etc so that's pretty much it so sd says it's like calling do harvest on harvest or check for best strategy on yield finance and spend gas for it exactly that so it's as crypto develops obviously i think this is going to be more and more useful when there's more contracts with more calls you need to make to these public contracts essentially i think without being too technical something that's kind of interesting with these smart contracts is that they don't do anything unless programmers call particular functions so unlike a um let's say unlike a facebook application where facebook constantly updates itself this doesn't happen unless developers manually hit a button and call it and that's when you need something like keeper someone to just hit the button and call it and that's exactly what it's designed for it's designed for so a bunch of decentralized people can do it so you know um yeah that's it uh um crypto nice if monday can go over 4k keeper can go over 1k it's kind of crazy i think like this the speculation here is insane it's um like it's very very crypto it's totally expected um i didn't expect it to go so crazy uh when i saw it uh when it launched but you know it does so i guess like you know speaking about this going through this there's a lot of things i love and hate about crypto right so i love i love the enthusiasm for new technology that's absolutely amazing people researching that spotting that jumping on it it's great right it's going to fund a lot of development in this space i mean if if someone like andrea one person one genius can launch a contract and instantly be worth what what is it now it's a 47 million dollar market cap i mean that's insane right if you think about that that um just just just think very slowly about that let's say for example uh y combinator right this is a kind of incubator for new products new startups what they do is that if you win one of their competitions or if you get chosen you get a hundred thousand dollars for 10 of your company so that's essentially making your company valued at one million dollars and you only get a hundred k because they want to play it safe and usually this requires business plans going through the hoops jumping through multiple hoops it might take even years to develop something that y combinator is interested in but in crypto i mean you know within hours this thing shot up you know the amount of liquidity in this when the first hour was two million dollars i mean no one even knew what it was right i mean it launched it came from andre's contract that's good enough for most people go in right so it's good and bad right this is like good it's good that someone can create such a valuable company very quickly and if this is something that can be used for good right if it's all um and create a good ecosystem is amazing but at the same time you know the irrationality of this is actually quite surprising i would say like um it's it's beyond over aggressive in terms of what a lot of people are doing i think um on that day of the launch a lot of people just came to me and i said hey yo box what what is keeper i'm like how much do you put in there well uh 100k i'm like do you know what it is nope i don't know i'm not sure if that's sustainable or not um that's my that's my long-term concern that's my long-term concern so yeah that's pretty much it um so derek says i like numbers uh uh ronnie races where and how do you do did you see the launch it was for telegram group so this one was from my telegram group box nation that i found out so there were quite a few people who got in even earlier than i did they entered at six dollars twelve dollars um it's kind of crazy people were watching the contract right like anytime like andre's contract like andre's deployer address has been watched for a while so it's kind of like people watch that and get notifications so if you want to be on come on my telegram but at the same time it's closed i will open it up very soon so i'm like i find a way to open it up for me more people for discussions um and yeah alert groups for that too um okay so last thing um going up i think there's a lot of comments about this um uh one of the things is harvest uh yikes that's that's gonna be a really touchy subject so um this was actually covered last session when i was doing the stream so during the stream something bad happened to harvest um and uh yeah people are very worried about it i don't want to be too touchy here so i'll just state a few things before we start i definitely feel it's worth discussing and there is definitely a good post-mortem of the flash loan attack and it really goes to show um that good engineering is important here now a few things i want to state about harvest before i start all right so first of all i did not really go into this so i was actually quite warned not to touch the harvest farms and i did actually say that on my channel too so like months before all this happened there were a lot of questions that we started asking about harvest strategies in terms of the f farm usd and a farm die the farm usdc and this was something that i told you explicitly that i did not go into all right so i tried for a bit and then there was like roughly an hour of decision making and i said you know what i would exit all right so that's the honest truth of it so first hour when it was launched i was experimenting with it and then there were certain amounts of kind of gaps that made me very concerned about harvest all right so even from day one i was not actively farming it i was really more pharmacy the free food for people i don't mind being a total dumpster diver and just collecting free farm all right that's that's no problem so at that time there was free food for people and that was the way i operated so with these more safer contracts and i did not opt for more aggressive ones now speaking of what happened the flash loan mechanic and what happened here it um it's quite a long story but the gist of it was that a hacker or even i wouldn't even say that a hacker it was someone that was very smart and abused price discrepancies and they managed to make off with around 24 million us dollars just straight just bled almost basically essentially bled that pool for 24 million dollars so there's actually a gap right now um that kind of decreased the value of f usd so that's the best way to say it so it's not like they're missing 24 million us dollars and when everyone tries to withdraw there's going to be a end like deficit you know missing 24 million dollars it's rather that the entire value of the pool so everyone really does suffer some losses that was anyone who's in the usdc pool suffered losses that's kind of the way it is and it's really to do with design so it's just um you can read up the medium contract and i think the easiest way to summarize this was that the hacker found a way to kind of very very slightly cause a very small variation in the curve pool that farm was in and they abused a mechanic where the prices don't get updated as quickly on harvest and they did it a total of not just one time right so every time this guy abused this kind of price discrepancy bug um he made off with around let's see this is this is the one here six hundred and nineteen thousand dollars right so this guy abused this tiny price bug using large large amounts of money so this is with the flash loan system they use large fund amounts of funds to abuse a small price discrepancy that was done by the engineering team that was oversaw um that was like that the engineering team did not expect right that's the best way to describe it and then the hacker abused it 17 times in a very quick succession within four minutes he abused the same kind of flaw in price pricing and he made off with 24 million dollars so very very intricate very very intricate exploit um it has to do with the way they engineered that the issue and they took full responsibility for it it's just like at the end of the day it's just crap engineering it's it's an oversight by their team which led to a bleeding of a lot of money and this is the biggest problem with defy right now where when they think of these strategies let's say they have a huge pool of money and we know that harvest right now harvest slash farm it used to have around one billion dollars of capital that they can deploy on various con various strategies right um it's almost like a fund right so any like they can come up with these strategies but the way it was way the abuse happened was when the strategy interacted with curve there were oversights there in terms of how the pricing worked and it led to the contract being bled so i think it's a situation where defy is extremely dangerous and it requires a lot and a lot and a lot of due diligence to make sure these strategies work i think that's at the end of the day and this is a very clear oversight on their side you know they took full responsibility and hopefully they can mitigate such incidents in the future but it still begs to question a few things in farm slash harvest and that's yet again why i'm not actively defending them very much is that there are still centralized elements there there is one key in harvest that has a lot and a lot of power so yet again there's a situation where i'm a lot more careful now so if you actually looked at my actions and what i do right and i'm very honest about what i do is that over the past few weeks i have been extremely extremely defensive in fact i'm just sitting on funds and not even farming with it that's how bad it is in fact i have a i just withdrew out everything in eve put it into a new ledger account because um you know i acted with interacted with so many contracts i don't want to have any vulnerabilities there so now it's just like safely sitting in a fresh new account no previous interactions no contract confirmations no approvals to spend my eve that's kind of how i am right now i'm like really defensive in this state because at this current time if you look at yield farming the yields just aren't as great as before and the risks are really high i think a lot of people don't realize how high these risks are a lot of these strategies they could have fundamental flaws i mean if someone's smart enough to exploit this 17 times what about other strategies out there there'll be constantly people hunting for ways to exploit them so this is where i'm a lot more safe right now like um in terms of my overall strategy i'm not even in y vaults even like um the rewards are so low right if you're looking at six percent per apy it's like i'm just waiting i'm just waiting i'm a little bit less aggressive there so i think i'm grateful for it a few points as well um i think people who were in farm i have a few friends in farm that's why i'm very very light in my language about farm i don't think they really lost out either i think um at the rate that farm was giving out i think it was roughly like 40 to 60 percent apy so if they were farming for longer than a month they could probably make back like they were already making money so they could probably make back the losses that they take on farm but i think my kind of take on this um like what i told a few people that were very good friends of mine it's like you know it doesn't hurt to take out funds right now right right now you don't really suffer that much you take out funds and if you're concerned if you're over leveraged like that's pretty clear what the decision is i mean you can always go back in a week later when you feel it's safe but at this current point you know are the rewards even justifiable and that's hard that's hard that's hard but yeah that's my kind of two cents um uh gerald draper jr says at box mining i got a new toy for you a token generator you can play with give me a critique about what you think there's actually quite a few good token generators on it but yeah of course obviously send it to me gerald i would love to see what you have there um angela says wow everyone launching their own projects here it's kind of crazy i think this has been a good incubator a lot of people who watch this um yeah congrats to you guys for launching projects and pretty much fat so that's kind of pretty much the discussion for today coin telegraph thank you guys all for watching too really really appreciate it and of course i would really definitely appreciate it if you're clicking that like button that'll be good that'll be very smart uh we've got a good question about box mining what is happening with swag so swag actually got dumped quite hard so i went down to let's see swag so let me see let me see where it's at right now so it's kind of hovering around 10 cents where it's kind of at right now i think there was kind of drama with swag so going all the way down um i kind of repurchased at around 11 cents which is higher than what it is right now i think the kind of the gist of it was that some people took swag and cream and shorted it so i guess it's kind of establishing where it's at um yes happy not happy i think in terms of what they're doing in terms of the business it's good but it's a case where i'm trying to learn that you know unfortunately with real businesses they don't grow at exponential hockey stick rates right so if this launched at 11 cents and that was their valuation then it would take some time to grow but obviously they're a money making business right so at the same time not too concerned i think there are a lot of people who are really concerned about swag uh not financial advice here but in terms of what they're doing i think it's like absolutely like solid right it's adult entertainment in asia i'm still stuck on that and i think i i think in terms of what where i want like this is something that i would say is much more stable because they actually have a real business around it with generating profits so yeah why not right that's my two cents on it so that's what kind of re-entered uh and i publicly said that i re-entered at around 11 cents so i'll see how it goes and well we'll see how it goes there um we got a donation from dima dimitri fredroff thank you for your donation when are you going to drop ledger from bc vault not really sure what that means um yeah not really yeah not really didn't really check out bc vault no no all right uh we got hey hey hey box money have you got any brand new projects recently for me blondie and base protocol are are they really looking good at the moment so obviously nh you're coming from the duck doll guys i think ivan was very hot and blonde blondie i guess because he's blonde i don't know but anyways um i didn't get into blondie no um base protocol we had the debate there it's kind of a situation i'll describe the situation the debate was very interesting and i think there's a lot of questions long term about the functionality of rebase but at the same time it's a situation where okay look which are you would you be interested in trying it out i'm like okay it's hard it's i'm so conflicted it's one one thing that led me to being very conflicted i feel like in the short term these projects have a lot of high potential it's like you know you ask yourself do you want to do you want to be poor all right do you want to be right or do you want to make money i think i'm right absolutely that rebase don't really function very heavily in the future but at the same time i'm like okay base is presenting something that might be interesting for some other people and this is going to be the hard part for me right it's an internal struggle i feel like i presented my points just watched the debate and i think he presented some points very well so i'll leave it as that for now um derek says are the shirts for sale at box money we'll find more ways to give it out in fact i think we do actually have a giveaway blondie not blondie not blondie all right sorry about that sorry about that um yeah it's just so way too many things i think i think ivan's very big on it i'm not too much um i think i don't know it's just way too many things happening right in terms of recent investments recent calls i've done mostly with wutrade so that was kind of my more bigger investment um side wutrade and what they're doing in terms of combining liquidity between exchanges that is very very powerful so i think that's recently launched this morning so that was um my my thing this week i think this week was yeah that and then what was it i took a brief look at certicate but wasn't too impressed to be honest i'm not gonna just um yeah it it was not too impressive i really hope they do well they're legitimate auditing firm but at the same time their token launched and it was too not much fanfare which was disappointing i hope i hope they do well um and i hope they can deliver um that's my two cents and then we have angela saying the box mining giveaways uh let me check that out um let me send that to you guys here so check out that we recently set up um this we set up gleam so we're doing a giveaway like a proper legit giveaway uh and we have like uh we're doing it on gleam so if you follow um awesome twitter you do a newsletter and you visit the youtube you get points to enter into the giveaway so that's what we're kind of doing with the nfts um it just yeah we're testing out gleam because gleam is cool so check it out um it's much more fair because like previously the way that giveaways are being done oh sorry i was i'm gonna do this so this is the one that's done like this is like much more like transparent because you get tickets and then it's much easier to do it on the backhand to pick the winner so it's much more like like um it's much easier for everyone for this to be run like this before like i'm just like blindly picking it i like it but then it just takes too much my time right so i thought this one is like it's so much easier so much cleaner backhand i can just pick up someone boom done and this is actually run by the team which is great so it means one less thing for me to do all right i'll be honest there uh this is like fully automated by the team and it's like congrats thank you guys for the team for doing this so yeah absolutely so um yeah just check it out um i'll put the link there angela's doing this um and check out the nft giveaway and we'll add more to it i'm like i'm thinking like if this works out well if this is well received and people like it um then we'll add a lot more things onto it'll be much more fun like t-shirts and everything etc would be cool so yeah that's pretty much it um crypto knight do you think honey swap is good i think we have the biggest honey swap fans in uh the telegram chat it's a situation where i'm like i'm cautious um i'm cautious um i took a position in x die stake at three dollars so um yeah it's a situation where we moved up a lot and i'm not re-entering yet so honey is like unit swap but on x die stake um so i kind of rode the way up um so thank you guys well whoever um suggested that and then yeah so i there were profit taking points up here so i i got it early before did massive pump up so that was great um took some profits up here now i'm kind of still waiting and the same thing will be with honey i didn't get into a position i'm kind of waiting for entry position right now so that has that's kind of that uh crypto grim says where's sami sami is like the biggest honey uh honey swap fan he's like he's like so into it it's crazy but yeah i'm still waiting i'm i'm waiting there uh binky beowulf says box mining crew nft art we actually want to do some nft art um also i'm trying to learn how to draw like after this whole thing like anyways it's kind of funny um funny story right digression digression all right so so i finally brought um finally we reused um charged up my ipad again and learning how to draw so if you guys really like art um this is this is something cool so i drew this i'm really proud of it but i followed a video for it um drawing with flow um absolutely amazing i mean like you can learn how to draw some stuff like this so i don't know i don't know it's just my it's my part-time hobby now so um yes i'm that bored so anyways um oh that's my life right now so yeah so we're pretty much it there for now um we have a we have the admins coming in and i just want to say a big thank you to everyone who is an admin on this channel everyone does it for free this is like crazy right um we've got volunteers um all in this channel want to really appreciate everyone who's helping out and doing admin and also admitting the discord and the telegram channel if you guys want to join us for discussion we're really starting up the discord channel a lot more so let me show the discord channel we don't the so there's two channels that we have right so we have a telegram channel which is now closed and exclusive and we have a discord channel so discord channel it's starting up and discord allows us to give a lot more moderation privileges to prevent spam so i definitely want to invite you guys over there to check it out if you guys aren't in the telegram channel etc and i think we'll have a promotion stream if you want uh to go to the more exclusive telegram channel i think that's the kind of the the way we want to do it now the main reason why is because we've been having a lot of spam issues recently where a lot of people very aggressively show a certain project um they don't really contribute much to discussions and they don't provide provide much alpha um alpha being like actually good intel and somewhere we can beat the market right so that's kind of more important for us and that's why um the group is closed so we have a more higher concentration density of information so discord is now open so discord we have better moderation privileges there and then we'll have an upstream to telegram i think that's the way it's gonna go none of this is paid so i'm not really for paid groups even though i guess i've joined the paid duck down group and the paid karma down group um but i i wanted this to be more like community based it's community driven community based and it's not like payment paid or money like money clouds everything here so it's not about money so that's kind of how it is so anyways um check out the discord there hope you guys have fun um people are playing games there sd's complaining doesn't play generals anymore i should play more generals i should oh it's been fun um i recently got this actually just talking about real life and stuff i recently got um this which is the oculus quest so i've been trying out a few games there half-life alex being one of them um also try to beat saber it's kind of funny um i think the thing with er is it's super fun right uh half-life alex is just amazing uh i think that experience just like looking at at this world is super crazy i think you'll you'll like you wonder what is the nature of reality after going into vr but at the same time i'm one of the select group of people that get very very dizzy after playing vr so after playing this for an hour i literally have to lie down and try to not throw up for four hours um like call me new ball you want call me old all you want but i think like there are people out there who who have this problem so anyways even with the new oculus um i get totally disabled for four hours after playing so then i don't really want to play anymore because that it's four hours of productivity gone right so yeah like you can do one hour of gaming i'll give myself one hour of gaming but i don't want to like knock myself out for four hours so we'll try to figure out what happens so anyways the loss of tech on this week actually um i'll share some of what i'm into these days um in terms of tech and what's kind of really cool i mean obviously amd released their new graphics cards um it's meant to be absolutely insane right um they have the rtx 60 6800 xt jesus the performance that they they've been showing us is just absolutely insane amd is on a roll this year right so i'm just looking at all this tech news i'm like wow like holy crap work it's it's good to be in a time like this right so we have the new nvidia chips coming out absolutely destroying it and then we have amd kind of just matching toe to toe we also have amd taking a dumpster truck on intel this year um yeah it's like it's crazy like the way tech especially for computers is jumping this year it's been great all of this might be great for farm life for mining too but the only caveat is that all this new tech is super expensive right so i've been holding back buying a new graphics card i want one but right now in hong kong they're selling it for around 50 premium on the price and i'm like i'm too cheap for that right like no no i'm too cheap for that but anyways this month has been really exciting i think dji also released a new osmo 2 i'm thinking about that um lots of stuff to buy like osmo pocket kit 2 i think that was out recently um yeah it's just loads and loads of stuff to buy this this month and um like i'm just like every day i'm just looking at tech news i'm like okay what should i buy out what's christmas what's for christmas guys but yeah that's great um cryptograms this amd is like michael comes with rage mode yeah yeah um yeah i'll try to be like so many amd fans here um but yeah i actually really want to move to amd but but but but but but i also use nvidia for nvidia broadcast which is great i mean um if you look at this like why i can remove the background from this is because i'm using gpu right so like right now you can see i'm almost perfectly removing the background even though you know that the background is not green screen right so like nvidia is doing a really great job um doing all this so this competition is going to be great like if amd can match the service that's crazy right so anyways um derrick says we're what do you think about the increased transaction fees at box mining um what increased transaction fees eath uh no that's not that much up i mean to be honest you know why i was a little bit bearish also is because transaction fees were going way down right if they go down way down that means no one's using eath right so like right now with eath gas fees going up a little bit i think that's actually good sorry for being a dick but you know that's actually good so um yeah ph.m says just take travel pills against travel sickness i think that's a strategy like i think there's like some pills you can take to make vr play a lot better i think um but the caveat to that like not the caveat the great thing all right um i do have to show this a little bit so this is 299 so i bought the cheapest model um it works fantastic man 299 for getting a vr experience and these controllers don't suck like let me see where my controllers are at um these ones these are the the oculus ones they come with the oculus um yeah these are great like for 299 like like it feels like i'm being ripped off by nintendo when it comes to the switch with all the cheap accessories and stuff like this feels like solid um i don't complain anything um in fact with the oculus um i might do a tutorial if you guys are interested but the way it works is that i can use um the virtual desktop app on my computer to stream content to my oculus so that's why i can play half life alex and all the steam games on it so anyways that's that's i didn't know that when i bought it i was just like well this is cool i bought it and then i'm like okay let me figure out how to do all these hacks and stuff so i could just like like wirelessly stream content from my pc to my vr headset i'm like this is like so amazing right like my mind is blown i'm like oh my god it's like it's 2020 guys like you know um yeah that's pretty much it so um it's 2020 i mean all this tech is like so amazing so and there's virtually no lag i feel like um when i play with this i just use the the wireless link to to the using virtual desktop but yeah that's it and then we have like um ps5 and xbox this is mr jaja or ps5 or xbox i'll definitely go ps5 like i have playstation everything so i mean there's no reason why not i guess at this current point i got myself trapped in the playstation ecosystem too early so you know that's just me plus you get like what horizon zero dawn you get like what last of us like god of war come on guys come on come on what does xbox have right what does xbox have all right so that's pretty much it for today uh uh lama 66 is 299 as a steel nose 2 299 us for this crap so i mean yeah it's like i got a ship from amazon i got amazon prime for a reason right like the free shipping for stuff yeah amazon prime guys anyways guys thank you guys so much for watching today i think that's enough digression um hope you guys had intel i hope you guys understood what keeper is at its final state i hope that explanation worked out for you guys check out the box mining giveaway i think that's really cool um check that out and then uh uh yeah so that's a gleam giveaway uh for box mining and then we also have our next stream coming up so next stream next stream next stream uh next stream is coming up very soon let me just get the link for you guys on here and by the way guys i hate saying this endlessly like a broken record but yeah definitely do check out the uh click the like subscribe whatever you know that the usual youtube gig um cesareo land cases please open telegram group i will try i'll find a way to open it up without spammers i think that's the kind of the best way for it um and otherwise find me on discord i'll be there we'll try to do something cool like we've been speaking about this for ages we need like gaming session like there's a gaming channel there join us for gaming we'll try to do a community we'll try to do voice chat like discord has so many features there i'm just gonna show it really hard and then yeah we can also have um you know like link up there as well so anyways guys thank you so much for watching today i am super hungry too because i'm still on intermittent fasting so i will not speak too much i'm i'm gonna get some food i'm um and i'll see you um on the next session so you guys smash up those likes guys and go listen to the podcast too check out check that out check that out podcast podcast