(Monday) Crypto Markets BOUNCE back! Bitcoin is not dead.

the live live stream button so we're just waiting a few seconds for the stream to go live and youtube says we are live welcome back guys to another episode of box mining here today is actually the first of march here in hong kong it is bright and early in the morning it's 11 a.m but you know we had a crazy journey over the weekend with bitcoin prices like looking like they were about to collapse there were so many people freaking out on the weekend just messaging me you know do you think bitcoin was going to go to twenty thousand dollars we had that on the line ethereum gonna crash below a thousand people were freaking out crypto is dead yet again on a weekend and today we have a major bounce back this morning so thankfully i think well at least people stopped messaging me which is great but anyways um on my personal side as well it definitely took a lot of courage um for um at least on my personal side you know i just closed my trading window and said you know what let me take a break you know emotionally i can get compromised at these times especially when looking like i made i set my portfolio to what i think and i want to go for right that was my strategy and looking at losses is not easy right but the key thing here is that i made the decision that this is what amount of exposure i want to have for each coin and looking at it aggressively just isn't necessary right there's no like i felt like there was like a lot of people like oh panic sell short bitcoin at the at the lowest point too like there were so many people at the lowest point when bitcoin fell to its lowest people were like oh we should short now i'm like like sometimes the emotions gets the best out of people but anyways um we're going to talk about um this whole journey obviously not financial advice but we'll talk about everything that is in crypto today we'll talk about bitcoin ethereum we'll talk about altcoins we'll talk about the mine uh farming it's still kind of alive we'll talk a little bit about everything there we'll talk about the narrative and the story behind this too because i felt that was kind of interesting too because everyone had a story they were convinced that they were going to believe in but honestly to to everyone out there i felt like there are multiple stories that all kind of made sense that to fit the narrative of why bitcoin um went down the way it is and i will take a look at why i do think that we're still kind of in the middle of this market i don't think we're towards the end of this run i feel like we still have a lot to go which is why i still have a lot of exposure to bitcoin ethereum to all coins to vechain to engine people were asking me all about all these coins am i exposed so i'm in i'm in calm down calm down all right calm down like there are so many people all freaking out i i do have a lot of exposure obviously like it takes a lot to um and that's that's why i guess you know um i keep repeating myself and the reason why is because it definitely did like take a lot of courage yesterday for me not to kind of panic but you know that's just the way it is and if you guys didn't panic i would definitely say congrats to you guys as well um you know this market is brutal numbers really do go down and i think from here on out it's not going to be as easy as the last two months numbers kept going up the last two months right there was barely any point of time when we said oh number go down no no no these past few weeks i made quite a few episodes you know my number going down guys 10% drop in bitcoin and it does happen uh quite frequently as well especially in 2017 there were multiple points throughout the um the point where we thought crypto was dead you know like that's oh okay that's the end of the bull market uh let's go afk for another two years that was during 2017 before we really saw the climb up towards the end of 2017 when we met all-time highs so anyways uh um that's pretty much today's episode we're going to talk about all that so make sure you guys smash up the likes if you guys did hodl especially if you guys had diamond hands throughout this weekend smash those diamond hands on that like button it really does help the channel really appreciate it guys as well this channel has been doing crazy good we get crazy number of views we got 400 people here already let's see 400 likes okay like this is crazy anyways um let's get started and here we go i think the time now to tell you a little bit about everything that's happening in the box mining ecosystem first and foremost if you guys like listening to all that's happening in crypto you guys probably noticed i accidentally clicked the wrong button there but anyways all right okay let's get started let's take a look at the markets right now so yeah bitcoin 46 000 not 20 000 did not completely did not crash to oblivion we also have ethereum at 1 441 and we definitely see that bounce back so in the past 24 hours we definitely see some green there even though if it's a tiny little bit of green all right i think in terms of just viewing this it's much more pleasant to view coin market cap right now because not because yesterday when you viewed it everything was like minus 10 percent minus 10 percent oh my god the world's collapsing so we do have that bounce back right now i'll go very quickly on the market narrative a little bit and why everyone was so frightened yesterday so you definitely saw last time i drew my support at um 46 000 for bitcoin right so this is the support that i drew and over the weekend it did fall below this support right so this is when people really got scared because you know sometimes these supports don't kick in like that's that's the kind of this case right so sometimes the supports don't kick in but in this case yeah so people were frightened for those few hours right there i mean that's quite a few hours for 12 hours it did below the support depending on people drew it and it scared people because if you move all the way down you can move that to the next support line which is 37 000 and then there are people who are freaking out and then saying oh like the worst case scenario is all the way down here oh my god at 20 at 20 oh my god people are freaking out i i even got dms like you know like private messages saying you know what you know people who predicted the last at the top of last bubble they called it you know they were right once and uh um they said bitcoin's going down to 20 000 short the hell out of bitcoin be careful guys uh but you know that's you know it's it happens right so yes we we did bounce back so we did move okay so realistically speaking you know i'm sure there are people who are shorting it at 43 000 and they obviously potentially got wrecked because we did recover and bounce back to right now at 46 000 so that's kind of the narrative for bitcoin it was definitely a crazy ride there were multiple stories where people tried which people tried to believe in to figure out what and we'll talk about that later but it wasn't easy it wasn't easy hodl so anyways um yeah i tend to typically speaking during that time like i try to try to ignore as much noise as possible like for me like typically speaking yet again not financial advice right but i take a look and say look this is how much exposure i want to have in bitcoin right now i've dollar cost averaged in obviously for me all right it's much easier for me to say this i know this doesn't apply to everyone but because i've been preaching and talking about bitcoin i've actually accumulated a lot of bitcoin at much cheaper prices so it's much easier for me to say look you know this is like this is easy because obviously i'm heavily in the green but i do recognize that for people who recently bought bitcoin this is going to be quite scary and um i've experienced that in 2017 too you know when when i did enter crypto 2017 levels i there were times where it was very hard but anyways um that's being said the same virtually the same story happened to eef as well this is where i drew my support lines before and you definitely see eef falling below those support lines right so this is a case where it just suddenly did dive and drop and we have this almost it's double formation it's like the kind of the bart simpson pattern if you guys kind of see the spiky hair for bart simpson coming in the reverse bart simpson i guess you can see him like the two the two spikes going down the spiky here over here that's a bart simpson pattern right um i do have to say for eef i was trying to catch the dip so it's kind of funny where i i sent this tweet out right um i put i put a i put a buy order in i'm not sure if this tweet's even going to show up right now oh yeah i put a buy order in for ethereum at 1258 i was just gonna see if this is lucky this is like a pure uh a pure speculative play i was like oh let me see if i can catch a dip sometimes you get lucky right sometimes you see ethereum prices all dropping and you want to buy a dip but you sell set this really low buy order you're like oh okay it if it catches i can catch it i'm gonna be in good shape right so that's that's my um fun play on the weekend so i was trying to catch that dip for eef so i almost made it i almost made it so i did 1258 i was kind of thinking like if if there was this like huge liquidation event right if there was a huge liquidation event maybe i can catch it maybe i can catch the bottom like because sometimes you see on um these giant spikes down right i was like seeing okay if there's gonna be a giant spike down like this i can put sorry not this is for bitcoin this is for eef all right this is the right charge so if i can see a giant spike down like this if there was another giant spike um i could potentially catch it so i did one one two five eight and that was a little too too optimistic you know if i was lucky and i did like 1300 i would have made it caught some cheap ethereum right there that would have been fun that would be that would have been that would have made my day right that would have made my weekend but you know what failure is failure unfortunately i did not manage there wasn't a massive dip too there was a mass liquidation event so yet again you know sometimes you get lucky sometimes you don't but you know that's that's that's life guys right that's life so anyways i'm still i'm feeling very positive about the space still and one of the reasons why right okay so i mean i'm sure you guys seen this before this is the altcoin season and bitcoin season chart and it was also the bitcoin rainbow chart but one of the reasons why i'm quite optimistic is this chart is actually very interesting all right the bitcoin rainbow chart all right how do you read this how do you read it so this is on a log scale and this actually shows where the timing of where the halvings are and this is the price of bitcoin so looking back at 2017 we'll look back in the history first right so bitcoin was at the low end of this rainbow so it was in the blue zone right you can see that bitcoin prices 2015 to 2017 not much action there it was in the blue zone right this is the lower end of the zone and then after the halving around six months after halving it started moving up aggressively boom boom boom boom boom boom and then it hit the red zone right this is red hot red hot means obviously that this is in bubble territory so it hit the the maximum of the bubble territory and then it went back down into the blue zone here so you can kind of see that journey from bit of bitcoin from 2018 so this is the peak end of 2017 to to um start of 2018 that's the peak and then dropped all the way down in 2019 levels now obviously it's not going to be accurate but but i think it's kind of interesting to look at it anyways right but you can see that there was another attempt to to really push bitcoin up but bitcoin never really entered that red hot territory moved that back down again yet again we saw two touches on this blue zone right here now we have the happening happen so we covered that on this channel you guys probably watched it like oh bitcoin this is a time for bitcoin to move no one no one really cared at that time we didn't have follow like you can definitely see that at that time there were as many people watching these live streams and that's for a good reason because you know during the bear market people just don't care right um but anyways almost like a prophecy it came true we see it move up and where we are at now is we're in orange we're actually not in red right now which is kind of interesting like uh we're in orange territory at 45 and if you have even just zoom in it because it's in log scale um it kind of puts everything into perspective right this run up has been quite crazy in the sense that if you look at the previous run-ups there were there was times when there were times when it said fooled you you know bitcoin fooled you um you know like it did go down um pretty much you can see that for our current run here it was pretty much all the way up it's it's just one one crazy rally up and it makes a lot of sense on the the log scale of things right let me just see if i'm zooming full scale there that that would probably be better right so this run i think a lot of people were not very um i would say they're not used to these crazy dips so yet again this is a situation where you know um being in 2017 there were points here where i did really freak out right but you know you fool me once you know shame on me fool me twice shame you know you don't get fooled again right bad joke but anyways um it's important to remember that um uh that the there could be major dips along the way it could be situations where there could be a massive um these dips and i do remember in 2017 when i made this channel um during one of these dips you know if you saw bitcoin drop from like 2700 2,900 most three thousand dollars to 1,000 um 1,900 you know there were times when i i even messaged people i think i distinctly remember messaging ivan on tech you know like oh shit you know we have these youtube channels we kind of chose to pursue this uh you know what's going to happen to us right if bitcoin's dead so yet again it's like i can see some of those analogies coming in 2021 where you know you get these dips and it's not even that massive compared to what's happening before but i definitely see that we can have a more rocky road um up but at the end of the day we're not in the maximum bubble territory i definitely see that you know we could potentially go there like i don't see it's unreasonable to go to 100k 140k at this point you know towards the middle of this year or towards march or end of april that's definitely possible for for for bitcoin try to rally up and then obviously reach maximum bubble territory and territory and go down i mean this wave um i'll definitely say there's a lot more excitement like versus say here 2019 um you know it was attempt to push up and then fell back down again right i don't really see that as a situation that's happening right now like where we're already in this kind of orange zone and there's a lot more kind of retail formal coming in like i definitely remember 2019 because like for me right the logical analysis here is like are we in this kind of mini bubble before another big explosion or are we meeting kind of the mother of all bull runs right now and i definitely see we we definitely see signs that this is a big bull run right we saw elon musk he literally bought 1.5 billion dollars of bitcoin we also see of course coinbase so coinbase is listing and its shares are rising just on how much profit they made all together right this crypto trading thing a lot of people from wall street are probably a little bit surprised like what but this thing that we thought was dead is generating a million dollars of revenue what the fuck uh sorry if i was first were in there but yeah um here is a classic situation so i think the meta um game of things in the meta scope of things i'm definitely very confident like for me like i'm um i do believe it's going to go up this is why i have exposure to bitcoin i have exposure to altcoins and on the talk of altcoins too right so this is also interesting there's two kind of funny charts here to look at um but the other one here is the altcoin index here right like swinging from bitcoin season to altcoin season and in many ways right so if you look at um september we saw the full defi kind of wave hit through we saw a lot of craziness going on in defi scene you know a lot of altcoins moving up 10x in a day right that's not surprising and we're beginning to see that now in the past few weeks and what's interesting is yet again are are we going to near this full altcoin season you know if you look at the altcoin chart we're still not there yet and a lot of people that were in altcoins were a little bit scared yesterday right yesterday they're like oh they're all eyeing bitcoin if bitcoin drops all the way to 20k obviously that would completely obliterate altcoin season but being having the bounce right now it could be the potential that we're we're entering an altcoin season yet again so that's kind of um that's kind of interesting on that front as well i just thought these two charts are a little bit interesting i mean they're colorful they're interesting they're fun um and you know they provide some insight but you know yet again you know they're not completely accurate so i just thought that was fun to show you guys this morning now something i'll talk about is the reasons for the dip right i think a lot of people um the biggest question over the weekend is why dip right and we have a few leading theories and for me right i always try to not fully um convince myself of one theory i think that's it makes for good youtube it makes for very good news like i've watched um a few youtubers especially crypto us he has the f2 pool theory um i also watched kramer this weekend you know market recovery theory he's got so much determination that um that you know market recovery is also causing the bond market crash which led to the crash of major markets and that could have brought down bitcoin too right so um you know news they they love to have conviction into a story but something that i've learned over the past few years is that this becomes extremely dangerous because if you're convicted you know like on media you gotta be so convicted that your theory is right right but if you're so convicted you're gonna make the wrong decisions because if it turns out to not be true uh-oh you know things don't go very well for you so this is why in this channel obviously it's not you know like i said i and i don't think i wanted this channel to be mainstream media and this year i've been focusing more on being a better investor rather than a better youtuber if you understand what i mean so from my side of my inside side i feel like there were a few attempts to try to crash down the price of bitcoin so throughout the most of last week i think a lot of people were looking at these ins and outflows and when bitcoin prices did drop what we did see was that there were huge movements right and this is why bitcoin is great it's transparent we see these giant movements from f2 pool which is a mining pool moving on to exchanges all right so they there were funds moving out and a lot of people read that as a sign that miners are selling or dumping bitcoin i would say that this is a signal only right so i've been kind of arguing in this channel but miners typically speaking have already mostly sold their bitcoin before they even mined it this is how in the internals of the mining industry this is how it works because they have to buy all that crazy equipment they want to lock in their profits early which is typically why they a lot of miners a lot of big miners they just sell their they sell they sell their future bitcoin so this is where futures contracts becomes very important too they sell they lock in the price and they sell that bitcoin to big buyers such as grayscale and one of the reasons why the halving actually makes sense of you obviously is that there's less and less supply and if grayscale wants to buy up more bitcoin these miners cannot provide that same amount quantity to them and well yeah they have to market by which causes the price to go up right so that's typically what happens within the mining industry they always typically speaking will sell a proportion of their future profits because they need to cover the cost of both electricity and new mining equipment so yet again it's a it's a business right so when miners typically when miners move bitcoin like that typically speaking they want to cause a scene so this is where the manipulation theory can come into play where when miners do do that right they're intentionally doing that doing that knowing full well that the market can ac it and can make their own make up their own interpretation so they are intentionally signaling to the market yo pay attention to us we're doing something interesting here and look at this huge movement look at this look at this this is interesting we're dumping on your face but to be honest miners have always dumped on your face just that you didn't see it right because they sold through grayscale and everyone else but i think it's quite important to remember that this intentional signaling could be part of a larger play which could be completely possible there is you know um there's gonna be a lot of people with theories in the space but i do know for a fact that there are people who have a lot of money and they do try to manipulate the space i would definitely say that um it's gotten a little bit better in a sense that it's much harder to manipulate the market these days but if you're being from 2017 2016 you know this was pretty common play where um a group of people can band together and try to manipulate the price of bitcoin in a certain direction and they will always send out signals right just like how f2 pool is a trend um the f2 pool signal that's a big signal to say yo we're dumping be scared everyone and this really reminds me of the tweet right i mean i tweeted this uh out this is a meme um but you know like people who want to manipulate the market they place the orders at low support and then and then it caused massive fear on the market right so you can go there like this is like your f2 pool transfers they'll send these on chase signals for everyone to see people freak out oh my god oh my god it's scary it's scary oh completely collapsed this guy got wrecked this guy got wrecked oh wreckage ouch and yeah that's that's pretty much uh what was happening right so um do i believe it 100 probably it could there could be some truth to it but yet again um some people were like going really far and they oh monitor all f2 pool future transfers well that's not the full story i would say i would say this was this was just a signal it was a signal from a group of people possibly trying to manipulate the market so that could could be the one possibility the other possibility is market recovery so this is interesting um uh so right now in the world's game of things the vaccines are coming out you know the world's going back to normal and people are thinking oh look the mark the the us dollar could recover right so one of the theory leading previous leading theories was that bitcoin prices were going up because the us dollar itself is going down right 40 percent of us dollars are printed i mean in the past two years that's kind of crazy right uh yeah money itself like the us dollar itself is moving down right um you can see that a little bit like obviously we're not in the hyperinflation territory but everyone sees it and they know that this is happening and the prices of bitcoin consequently went up in the process well that's one of the theories this is not the entire theory though because i do say that gold prices have not moved up as aggressively as bitcoin and if the price of the case of big of us dollar is um having some form of deflation then you know gold should drastically increase in value to peter shift should be celebrating on his boat in his super yacht by now right but obviously there's more to that story and bitcoin because it's kind of viewed as almost like a tech product too with the stock market kind of plunging on friday it could be the case that you know bitcoin also took a hit yet again this is because people don't really understand the positioning of bitcoin but because the market believes what it believes right so you know it can't come into play so i don't see that bitcoin is decoupled from the stock markets at this current point i think there were a lot of articles that said it was decoupled but anyways i definitely do see that coming into play a little bit over the weekend as well where people feel like because there's a market recovery money will move out of stocks move out of bitcoin back into the economy or the us economy so that could be that could be the case but anyways those are two kind of theories that i kind of think is possible but at the same time i feel like you know why i believe that we're we're still there is because of how much kind of the biggest change this year is that people now understand that the technology behind bitcoin is extremely rock solid i think you've seen the kind of the trends how the market has reacted around bitcoin you can see first of all like you have dc ep government issued this is a chinese issue national digital currency and it's kind of based loosely around how bitcoin works then we have a lot of banks adopting cbdc's or essential bank digital currencies yet again they're seeing the power of bitcoin this is a direct response to bitcoin from the banks and you know back in 2017 we'll never see this right back in 2017 all the banks will say oh yeah bitcoin is going to zero we don't need to digitalize you know it's fine this current system's fine you know swift transfers takes two days but it's okay because it it lines our pockets right 20 30 dollars both sides we can take money that's what the banks felt like we can do that you know we can stop people and if people want to have faster payment options well they can pay premium they can pay 150 dollars right that's that works and then bitcoin was like no global payments right less than a dollar right back then fees were still cheap but now uh now the banks are responding and saying oh yeah we gotta all gather up together you know they're kind of caught being caught with their pants down seeing how this kind of digital payment systems can work and then you know um they're directly responding and that's feeding bitcoin right and then also we have decentralized finance if you guys have been in this space you can realize that this is really setting up a new infrastructure for banking i've said this many times like this is this is the eventual end game for ethereum and for these big platforms to be able to provide exchanges or services or lending platforms or insurance platforms that are decentralized that can't be shut down and that's really powerful and especially like um i'll just throw in this news article here while we're at it you know robin hood right robin hood they suspended the right of people to buy the customers can no longer buy the stock game stop gme and that was just kind of like a like a big screw you to customers right like it was a screw you to the whole bitcoin and not the big the whole gme squad and it was unfair right if you can if if people can only sell and they cannot buy obviously the markets will move down and a lot of people believe and i think rightfully so that robin hood was motivated to do this to protect their shareholders right to protect citadel to protect melvin capital because melvin capital and citadel they were bleeding right like there were market makers that were bleeding in this situation so they were expected to pay a 26 million dollar fine which is i would say laughable at this current point uh like the settlements underway um you know they're they're preparing to pay at least 26 million 26 million seriously seriously like considering how much melvin capital bled which was in the billions right like this is not even the same unit this is not even the same unit it's like oh yeah okay i'll pay a cent for every dollar i make it's okay it's okay guys you know good job like now now because the fine is so tiny all right because that fine is so tiny robin hood's gonna do this in the future it's so simple right one plus one is two massive profits if you see something massively rising it's okay guys let's just let's just turn off the ability for people to buy it 100 guaranteed success right jesus jesus i mean that was i mean i thought i thought this was laughable but something that's interesting obviously is that if these exchanges were with erc20 tokens that would be a very different story right so this is why i'm fitting the story here this news article here is because if it's done on a decentralized exchange all right if these are erc20 tokens or your bsc20 tokens uh depending on which you know platform you want to be on but you can't shut down the entire network to freeze a trade right this is where yet again this is provides a much more robust platform without manipulation from centralized figures it demonstrates that finance is very very centralized you know robin hood they have 100 control over whether your users can trade can buy or sell and the same thing goes um with all these centralized exchange services the central party has the control but with bitcoin if this if this was an exchange on uh on ethereum with um decentralized finance going in that wouldn't really happen right um so yeah i found that was kind of interesting all right let's fit in some news whilst we're at it so we um we talked about the upcoming season we talked about the narrative and this is why i really feel like decentralized finance is going places but yet again there's always going to be barriers to adoption and i definitely want to say that one of the biggest barriers to like defy adoption is still the technology and still the way it's coded i think we still have to remember it's extremely experimental and there was a giant um hack so defy protocol for row combo loses 14 million in an evil contract hack i think this is actually poorly phrased because users lost funds too um this is this is kind of funny if you actually look at the two numbers in perspective so we saw robin hood they paid a 26 million dollar fine and we see defy here yeah for combo loses 14 million right you can see that the scale of the fine is nowhere near like a like a small hack like this that defy just shrugs off like this is 14 million people don't care right they just like brush it off yep defy is going to move forward but you know robin hood all they got final 26 right so i'm kind of funny if you put everything in perspective but anyways um so yeah this happened over the weekend and what happened was that tacklers were able to withdraw funds from people's wallets and this is something that okay i definitely want to explain this to a lot of people right because when you start trading on uniswap you approve your contract for a trade right there's an approve button that you approve this contract to be able to move funds out of your account and typically speaking which approvals are okay because typically speaking um it's we who the user who transfers the funds right um the user gives um gives in action every time so if you want to trade in uniswap i'll just give you guys this as an example you approve it right so you want to um you want to trade any coin any token you select your token let's say i just go very quickly you um you select your token here just give me one second let's see if i can do it okay um typically speaking over here i'll say um approve your transaction let me see what tokens i have like it won't show up because i don't have that token let me see what tokens i have on this account uh live value okay let me see if this might not work because i've probably already approved it already but anyways um bad example i should definitely give better examples but it turns out to be the case that on a live stream is much harder so typically speaking when it's the first time you want to trade something you have to approve that token right so what happened here was that people who approved for combo to spend their tokens well a malicious hacker managed to hack that contract and withdraw tokens from them this is a very important detail in crypto right right now especially if you're using ethereum once you approve a contract to spend your coins especially if you approve to spend infinite they can also withdraw infinite right this is super dangerous and it has to do with the design and um hacks like this can happen if a malicious hacker breaches a contract that you've already trusted and you know um things go apeshit so this is quite important like if you follow my channel you know i'm very heavily in d5 i'm a heavy um i'm been user up i've been a defy user for a long time um and when that message came up that actually scared me right so this actually came up around saturday for me like end of saturday people were like okay warning revoke all your permissions approvals for spending on forward combo you do not want to get hacked because the hacker was just like drawing withdrawing people's funds right it was still outright theft right so this is something important i think the best analogy i thought for this is that if you want to do a lot of things in d5 you approve for people to come into your house right like let's think of this as like an amazon delivery guy right this this analogy kind of makes sense it simplifies the situation you give them approval to come to your house right let's say let's say uh i have some milk pardons that they want to pick up or maybe some recycling right let's say i have a house i have some recycling i approve some guy to come in and pick up my recycling right that's that's kind of the way ethereum operates right now you you send that approval interaction now they can just come in collect their stuff and go right and every time do you want to trade you just say yo come up pick up my stuff all right drop my stuff off put it inside my house it's safer anyways right you don't want any like like parcel thieves coming and stealing your parcels right just come in come into my house put it down or you know take this stuff but this is where it becomes very dangerous because if you approve the wrong person if that if you approve a hacker to come into your house if you approve a malicious person that's dressed up very well it's dressed up as someone really nice and happy but hey guess what it's not or if a hacker kind of hijacked amazon delivery guy and you approve for amazon to come in but now this hacker hijacked amazon you're in big trouble because they can access your house rummage for your stuff and take all your stuff and leave right um this is exactly what happened with four-wheel combo so people typically trusted for a combo because it was a way for people to combine transactions together batch transfer them it was very useful as a tool so they approved for for combo to take their tokens and then this hacker managed to compromise one of the components and then outright steal stuff right they were approved for combo is approved to go to your house outright steal tokens so i think this was a problem like i think um this is a problem with the way the current defi is designed right now that they're that we have to go through the approval process and uh there could be i think severe ramifications down the road and i definitely want to see like how people are going to solve this because so far this has been a standard practice whether it's on uniswap whether it's on you know um yo farms whether it's somewhere else it's standard practice to allow this to happen but this kind of procedure is not it's not great it's not great and i definitely saw i think it was r4 0x that commented on this let me see if i can find the comment very quickly r for let me see if i retweeted that i think it's definitely a problem with design um and let's see right now if there was yeah so this is r4 0x that he says the approval function of erc 20 is literally an abomination and technical debt at this point technical debt meaning that eventually eventually this has to be corrected and fixed you have to pay back this technical debt and it could you know cost an arm and a leg so that was kind of the frustration at the design i want to throw in this article too it was um you know this also relates to approval um i just want to throw this in let me just take a very very quick look at where the article i saved up is but it has to do with a few ways that uh people are stealing money right so you guys probably know that i've been yield farming a bit on binance smart chain and one of the projects called um honey trap there's like so many new farms of binance smart chain but also there's so many rug pulls at this current point so be very careful guys but this is an analysis from goose finance and they take a look at how honey swap was managed able to steal people's funds yet again this is outright theft and it also has to do with an approval function so this is very interesting so um the method here all right i'll do um a quick rundown this is the rundown of what happened and i think this um to fit this story and i think this is important so typically speaking when you're yield farming you deposit your funds into this contract and you expect that these funds cannot be moved or stolen right typically speaking the contracts that um the smart contracts are built around a way that if they're safe if they're audited and they're safe there's no way people can transfer or migrate those funds out now this is not always the case and what we're noticing on binance smart chain farms is that there's a lot of more malicious people who are just outright trying to steal people's funds and honey swap turned out to be one of them how they did this is that they deployed the masterchef contract they the masterchef contract had a migrator and had a attack contract so what happened is even before everything was set up they approved a certain transaction yet again this was an approval for tokens to be spent by the attack contract so if people just viewed the contract and they said oh look the contract looks kind of safe like oh the migrator is under a time lock it looks pretty safe but the crazy thing here is that they pre-approved a contract to move funds very very sneaky very very sneaky so they essentially did that they essentially called the migrate function on each pool without any tokens already staked this call grants infinite allowance amount of alliance to the current migrator which is the attack contract and then they sneakily set back everything to zero zero zero they kind of burnt the migrator function ha ha ha and here it goes and this is why farming your farming right now is so dangerous because if you just looked at it from a very quick analysis angle you know the contracts look relatively similar to everyone else it's like it's uh it's similar it seems like there's no back doors but the attackers here they hit a back door by pre-approving a transfer yet again this is why i'm bringing up the story now is because this is almost the same story as for a combo for a combo people used it and they pre-approved that contract to withdraw as many funds as possible in this case the my the smart contract the master chef contract also approved another contract to allow maximum of draw this is basically saying okay you're approved to take us to withdraw as much as you want you're approved to enter the house right and uh yet again um people whose funds got stolen so why am i talking about this i'm i'm really just saying this to say defy right now still has a lot of problems right it has a lot of technical debt it has a lot of design flaws that needs to be overcome over the years but at the same time it's innovative as hell and i think this is the the mentality of people coming into the space and people need to understand is that um defy is something that for me i don't think i can yolo into there are many things that could go wrong and we're so experimental early stage if this works this will replace banking as we know it there is a lot of power in having a decentralized exchange say for example one that robin hood cannot just say yo you can't buy anymore that's powerful but at the same time the road to get to the end product is still going to be very hard there's a lot of issues there's a there's going to be a lot of challenges and there's going to be a lot of hacks along the way and this is the problem of innovation right there a lot of these contracts they get cooked up in a space of three four weeks where the developer thinks about it writes it down slaps it on boom goes forward people throw money into it and uh we hope for the best and a lot of times that is the only way to do it because if you test it rigorously and without actual funds inside none of these ideas can really work right like you can see a a virtual test environment just doesn't work when people don't have stakes involved and this is why andre you know um one of the masters of defi he says his his model was test and prod right it's hard it's hard it's hard so anyways um so what i'm trying to say here is yes we're gonna eat loads of hacks and there's gonna be loads of failures and for me it's always about diversifying and being on top of things that's kind of what kind of worked so far and i think it will work but anyways that's that's the amount of effort you need to kind of put into this um edit names is how do we remove all approvals so one of the things that comes out of this is that if you have approved um token expenditure on different contracts in the past there's two ways to do it if you haven't done so many there's infinite um to unapproved processes you know the the you can unapproved contracts to do it the other super easy way is just to migrate your funds all right so you migrate your funds to a new account so basically it's it's the equivalent like if you approved a lot of people to come into your house right and there's something that i've done extensively on multiple accounts you know during the yield farming days i will approve millions of contracts to be able to be to spend my cryptocurrency because i needed it at the time that means i have like at least 30 40 approvals to deal with in which case if that's really a complicated and you know you want to be ultimately secure move to a new house change change to a new ethereum address it's very easy you know on your ledger you can have multiple addresses if you're metamask you have a lot of addresses move to a new blanket dress without the pre-approvals so it's equivalent of moving to a new house this new house has a new security system no one's approved to do anything and you can rest and sleep at night that's pretty much the strategy i've adopted if like if i see an account that's like oh my god it's it's got so many approvals that each approve each revoke of the approval will cost me like 10 20 to do it um i wouldn't go through the process i would just move house right um if that makes sense to you so um that was the strategy that i've been using in general um zeo dmv says is yield farming risky in general or just bsc it is absolutely risky in general um i think a lot of people they don't understand you know they think this is fun i want to go in but there's a lot of nuances and i've survived one of these major yield farming disasters i mean yield farming went from like zero to hero and then zero to zero and now on bsc it's going back to hero and now going back down to zero again right um it is extremely dangerous it is extremely i cannot re-emphasize this is extremely extremely dangerous if you don't know what you're doing so yet again it's a situation where you just gotta be on top of things it's not easy it's not easy like i don't think like i feel like um a lot of youtube guys there make it seem like it's a lot easier than it is but even if you just read the story that goose defi posted up here um there was a lot of nuances to this and uh the end the end result is that anyone who touched honey swap lost money um they got their funds stolen completely and that's never good right and uh it's just it's just disgusting so just be very careful i'll post that link there if you guys want to read through the entire story i kind of like butcher it through by simplifying everything but it's quite important to read it up all right let's go back let's finish up the news and then we'll talk about everything else so um coinbase stock rises ahead of public listing uh-huh uh-huh uh-huh yeah the furrow combo hack we talked about um on-chain stable coin volume passes 360 billion dollars for february wow a lot of people trade it like this is also very powerful too just think about this like the amount of transactions being processed is in 360 billion dollars in just for just for stable coin volume volume alone so activity is definitely going up so if you're looking for proof that would be proof in the right there right now we talked about this already um we got honey trap we talked about this already um all right reddit stuff i thought this was pretty interesting i think this uh all right all right i'll just i'll just very quick summarize it i thought this was interesting because you know on reddit there's a lot of damage control right um you know people's egos are shattered and um okay so this guy was talking about you know the stories right and he says i was just reading a six-year-old post on the sub basically a user was lamenting that he bought 50 bitcoin could be cut about 200 friend told him to sell 200 and didn't and sold at 108 ended up with 7 000 in credit card depth afterwards day trading so six years ago they bought 50 bitcoin all right sold at 108 and ended up with debt because they they freaked out they thought bitcoin was going to go to zero right obviously no way in what we did now this guy would have been sitting on 2.3 million dollars plus instead of a few thousand in credit card debt today obviously hindsight is everything but really makes you think about your decisions going forward i know after reading it i would be much more aware of letting go of coins because they don't become life-changing basically i think that would be my policy going forward unless selling the coin is profoundly life-changing i would i won't sell ever okay i don't really agree with that to be fair but here's what i think right obviously this guy bought with credit cards and that's not a good position you want to be in because every month you'll be paying for that right because a credit card company charges you right you gotta you like especially if you don't max payback they'll charge you money this is never a position where you want to be in because if you're in a mindset like if you're like bitcoin right it's been rising over time but we've seen some huge huge falls right and uh uh unpleasant doesn't begin to describe it and when you're in debt your psychology changes a lot right which is why you know most people will say oh you know do within your means etc and it makes a lot of sense because for me i'm willing to hold right like if all right yesterday bitcoin collapsed to 20 000 dollars i will be completely fine i will not be in debt i will be not in a hurry to sell um you know it eats up it eats you up emotionally if you if you are incurring debt and if you're paying every month to keep that position alive right this is never in a situation where i would ever want to be in like for me i'm well like um like i said at some point and this is very true that i had enough funds to keep myself going here for seven to twenty years right this is this is how much like a reserve in fiat i had set up now i kind of diversified that a little bit um you know just just to make myself secure so i want to be in a position where i never ever have to be forced to sell to pay my rent right that's that's something i've set up so like i said um if bitcoin dropped to 20 000 if bitcoin dropped to 10 000 i'll be absolutely okay but this won't be the case with everyone and i think it's not really a story about whether to sell or not but being able to manage your funds and yet again this is where you have to everyone's strategy is different like for me i definitely took out some crypto profits very very early on just because i wanted to make sure that i will never fall in a situation where i have to sell to keep pay rent right but it's different for everyone it's different everyone and everyone has a different strategy um that works so yet again not financial advice find a financial consultant like roughly plan out your life right so yeah i think i think that was just highly irresponsible for at the get-go for credit card debt you want to min max your gains but you end up losing even though you bought bitcoin at 200 that's kind of insane that's kind of that's just sad right yes it's sad um yeah that's pretty much it um all right talking about all coins and everything everyone was talking about the ada surge um and uh pretty much what's happening last week i think um ada's doing a red by ada all right so i think yeah i guess i guess this point this this thing is here we're all trying to make money here i'll just read this i think it's kind of interesting i've been noticing a lot of bashing of other coins tokens going on especially with the recent surge of ada it's just with the recent ada surge it um not the long not too long ago spike of bs bnb and bsc tokens genuinely curious why we can't just all be happy for each other when someone here is making money and is in a profit from their investments if someone else's crypto is making them money what would you achieve by bashing them and being salty towards them we're all trying to make money here lol besides the people who are in it for the tech i sold my bnb back in 2017 for peanuts and even though i'm salty about that trade i'm happy for people who dumped above 300 and even now made money besides the obvious pm pump and dump scams let's be happy for each other we're putting in our hard-earned money with the purpose of being financially independent i think we do take sides like um i'm also guilty of this and this is in many senses why i made this tweet on um like this weekend i literally told people um and let's let me see where it was here um where's my tweet where's my tweet oh here we go so this is despite all my slight comments about ada i want to congratulate the community for their success and this is something i've been trying to move over to as well like i feel like it is absolutely the case where um we definitely get emotionally invested into a few um things and the meta game can shift a lot i think people believe things for different reasons um and i think being happy for each other is also important i've been trying to it is like it's close to new year resolution to be much more friendly and much more like um less tribal it's so easy to get very tribal in crypto i'm definitely guilty of it i definitely rolled my eyes a few times at ada um and there was reasons for it too right there's reasons for for for it but you know at the end of the day i do agree i do agree and we've seen that as well for binance smart chain you know when binance marching rose to success there were a lot of people who were very salty especially ethereum maximalists they were very very salty that this is happening because you know ethereum slow so people jump to the alternative and or or what is an alternative honestly i don't think it's mutually i don't think it is an alternative to be honest um they're very different in terms of design even though they have they're all smart contract platforms i don't think they're yeah i don't think yet again it's gonna be what's suitable on ethereum probably won't be suitable on binance marching i just say that but that being said i saw some some humorous stuff happen over the weekend some salty people created these projects that were extremely controversial and extremely offensive to other people so i saw one which was like slave auction it's like a yule farm which presented itself as you're buying slaves i i'm not going to put it up on my screen i think that's like highly insulting and it's um it's completely inappropriate but that's just an example of people making these projects trying to discredit a community and i think that's not necessary at this point right i feel like like it's not funny um it's just stupid all right so that's my two cents on that going going forward now going forward today obviously i'm definitely taking a lot more paying attention to altcoins i definitely see that the market you know being recovering um was slowly recovering at this current point um it could be potentially there so yeah definitely paid a lot of attention to trust swap recently with their launch pad going on forth i've also paid a lot of attention to sift chain going forward um they basically have an exchange that's on cosmos and i spent some time researching both cosmos and polka dot recently for um a huge number of reasons i feel like um yet again scaling is a problem that people are trying to tackle and this ecosystem is growing very very rapidly at this current point so yes i'm definitely into um very into altcoins at this current point wednesday will be a more altcoin focused episode i'll definitely you know feature that and talk to you about it i do wanted to give a shout out to chain guardians it is a project that i am um advising them they're doing nft and they're doing gaming and i felt that was a very very good fit they're doing a um raise on poker star um so they're doing poker starter very soon and the white list ends in three days so if you haven't checked that out so chain guardians they have they have some crazy cool stuff like they have like heroes um and champions and their team is brilliant they have like a cz champion that you can collect a comic book cz character for bsc they have a matic one um i think it's like it's a situation that they're going through the story and narrative and they build a game around that too so if you guys want to check out chain guardians there's a white list available for poker starter they're only raising a hundred and fifty thousand dollars so yet again it's uh it's one of those things that in this current climate everything goes crazy because oh my god poker startup trust watch launchpad duck starter all these platforms are super oversubscribed it's crazy and i think that that mania is still kind of there so anyways just a friendly reminder on that point um we've got someone talking about zk swap zk swap took a huge hit to be honest zk swap um it's one of those situations where like i hodl for the whole thing i just didn't i didn't really want to actively trade it but oh my god it was crazy right um so i'll just give you the narrative so there was so much hype before the airdrop coming through because the amount that people would hold would double so the price actually went up to ten dollars right before the airdrop and then it crashed to five which is expected right this crash is expected because um tokens doubled right so this is like a equivalent of a split but after the split it fell down in value and it goes to show how much speculation there was in this where people didn't really look at the the platform but rather were in the price speculation phase and it taught me a lot about this market too where um when people really want you to talk about something it's a situation where they they have motivations for it too right this is where i chat i put that on slow and i'm not accusing everyone doing this right there's certain individuals who just really want people to pump their coins and this is something that we do not do on their channel i do have zk swap i've been still holding it and i still hold the value of it but i did not trade during this period of time like i just didn't have time to trade it but yeah it did fall down quite drastically whether or not it's a good entry point that's open to debate but yet again it's a it's a situation where you have to be very careful about hype in crypto at this current point i've learned a lot about hype in crypto um you know i definitely see the markets especially for all coins it's been shifting much more greatly towards these hype driven markets rather than fundamental driven markets which is very dangerous um 2017 me would say oh my god guys guys stop hyping but 2021 me i would say you know this is part of the crypto um i don't think i would be able to change it i don't think i'll ever be able to change it and um trying to change it will be like grandpa trying to shout at you know uh this road or technology technology is gonna move on uh people are gonna move on but you cannot change people i feel like that's it's not about me giving up it's just me understanding human nature a little bit better right i feel like that's what it's kind of like it's a human mentality to try to cheer for the coins are moving up and the more someone cheers the more of a warning signal that becomes right and you you can definitely see on my channel i have pretty much stopped you know uh that crazy excitement for new projects i'm much more subtle about it um and that's my my effort and into trying to you know prevent over hype and uh yeah that's just the way i roll and um i'm not trying to discourage anyone anymore i feel like you know yeah just like it's the market right so that's pretty much it um all right there was an attack on our youtube channel thank you guys for blocking all the stuff um let me see what the attack was about uh i was very anti-asian huh asian no like blacks okay what the hell what the hell is this what the hell is this anyways whatever oh there's always attacks there's always people put user in timeout you know what i'm gonna do right now is i'm gonna just on chat live chat i'm gonna set up very slow mode uh thank you very much and only members may send messages i think um i think at this current point so just apologies for this second i think the admins were going a little bit crazy there were a lot of racist bots attacking this channel in chat just now so big apologies um like live streams always have live chat i've also just done member only mode just now to prevent this um it's kind of unfortunate that some people um yeah some people were just really salty i don't get it anyways i i didn't really read those messages just now but if you guys were reading chat it got really messy so first and foremost i definitely want to thank all the mods for helping um delete those messages they were just plainly racist um and totally not like necessary so anyways i'm just helping the mods out right now i'm making it member only posts only and i've also put slow mode on at 30 seconds so let me just wait for these bots to go away now and i'll hear like to hear your comments soon so yeah we just kind of come back um cameron says the goal of the bots is to disrupt the stream absolutely absolutely uh we got ivan slow um he said something that's actually um quite important he said he lost 70 of his portfolio on margin this is something that i've definitely warned a lot of people about and yet again why this channel is very different from a lot of other youtube channels where they a lot of youtube channels tend to teach people how to trade margin um because when you trade a margin you can 10 extra gains who doesn't want to 10 extra gains right if your gain is double 10x is 10 times if your gain is 20 times your gain is 200 times right that would be life-changing money for a lot of people but that being said of course it also becomes extremely dangerous because of how volatile crypto is and a lot of people they um especially during this weekend they were facing liquidations right where they could not they're in a leveraged position the market moved the other way and they no longer have any money on their account right this is like where the entire portfolio gets just gets wiped out and it's entirely possible even though you're long on bitcoin and maybe bitcoin might go to 100k in the future but because it went the other way just for a very split second there just for one um one or two it can happen it couldn't happen one or two seconds it just drastically drops the next change just sells all your coins and all your positions so just be very careful on leverage a lot of people don't understand it and i feel that is um you know quite it's quite sad it's quite sad um we got christian and crazy cam zero zero seven joining cream team crypto thank you guys you guys didn't have to do it i just didn't made a member only because just to prevent the bots we will open up the channel very soon but yeah welcome to the gang guys welcome welcome welcome um totally respected if you guys joined really really appreciate it um we have channeled there's a uh join the channel thing it's uh it's a one dollar ninety nine but um i've been finding i've been doing a few members only videos i'll definitely talk about them soon unfortunately i've just been super busy but i've been doing a few members only videos we talked about you know kind of the ups and downs of leverage and what was happening there and about these fees right this is quite important um i think why i did it on members only was because i don't want masses to be like oh my god like leverage trading is good you know not trying to be a hypocrite but at the same time there was there's need to understand leverage markets right like how they intertwine with current markets how funding fees work and how the mechanics work and that was quite important too so members only you can have more understanding but it's not like oh my god this is the greatest thing in the world understanding this is like okay how these mechanics works how funding fees work how funding rates work and how this um the perpetual future markets interact with the normal markets and how these markets are linked together anyways that's kind of like more of the education side if you get what i mean so welcome guys to the channel really really um appreciate that and uh we got christian says how any thoughts on how engines holding up just let me talk about engine recently engines doing very well right recently they got added to um japanese exchanges um and also i think they're doing something um yeah they're moving up quite well today not bad i've been diamond hands holding engine for a long time gaming nft space yeah they're they're early and they have so much there and um you know that's gonna go crazy all right um we've got grams says crypto grims is welcome new members we have mr t time welcome and welcome to an og king thank you thank you so much thank you so much for joining and talking here so uh yay we can now i can talk congrats man congrats so all right let me let me change the rules on this channel bit so i definitely think that tag is more or less over at this current point on live chat definitely thank you guys for staying here i'm also going to um change it so bit so i'm definitely open up so members if you guys want to ask any questions on what's going on i'll definitely um be there so to answer you so i'm slowly opening up the chat and we'll eventually open it up for general public once the bots are gone hopefully fingers crossed fingers crossed all right so um crazy time mike have you looked into vv app yet nope i have not uh so he's talking about mass consumer and big time adoption i'll take a look at it like like like i said with a lot of these tokens um my list is huge i've been holding a massive all coin portfolio of around 40 different coins plus um yeah it's it's kind of crazy hard but i will try to look into as many projects as possible but there's no guarantees at this point um everyone's shouting a different project right now so apologies every day all right michael lew says send in the bots send in the bots we are ready uh thank you guys mods thank you mods so much for this by the way really appreciate it like they do this completely for free um like i really respect all of the volunteers on this channel to make this happen and to build this community i really think you know bernard michael lew angela wang smarts killed wrestling crypto graham big big thank you as well we also got cc chan who is also a og member welcome guys welcome i really appreciate all the guys that you do here so we're still we're opening up um we're opening up the chat um sean aureli says what about a video for staking vet for v4 one day um vet you don't you just hold it you don't even need to stake it unless you want to go for those nodes in which case it's pretty easy uh kai do says big connect all right all right we still have the bots in here um you know what let's i think a smart way to do this let's see live chat can we ban particular words anyways i'm not gonna bother too much about it if if if the spammers come back we're just gonna go and um yeah it looks like the spammers are still here so unfortunately um we're gonna disable comments on this channel sorry about this apologies it just seems like um it's quite disruptive so i think that's pretty much it for today's chat i think um yeah i'm just gonna do it members only thank you guys um yeah just big apologies i i guess just way too many people um spamming it um like just good comments coming in like come on like honestly like bots ruin it for everyone anyways anyways i'm not gonna bother about it it always disrupts the stream let's go back to content yeah let's take a look at the markets right now yep it's just same thing nothing too much has moved we got b a binance coin moving a little bit up as well i think it did below 200 so a lot of people were freaking out yesterday especially on the binance um smart chain and a lot of yield farmers were also freaking out so i'll talk a little bit about yield farming just kind of wrapping this episode up and my thoughts and everything i definitely made quite a few comments on yield farming this weekend most of them were trying or attempts to be humorous i know i'm not the most humorous person in the world but you know there were tacos there were vikings there were eggs i wouldn't really mention ufos because they completely tanked really quickly but there were a lot of there are a lot of yield farms on binance smart chain right now and this is where it's very active so here's my view on view farms so what i do is if i have spare coins lying around i'll typically just deposit it and earn apy so long as i believe that these farms are safe but that's a personal belief now that you know we know that there are so many back doors you guys got to be very careful and watch out for audits but the way i see it is that if i can get coins for free why not right my analogy earlier was um you know it's like a free buffet you go in there you get some free food why not but you don't always have i don't always buy the coin um depending on the project but i always take the free food if you know what i mean so definitely i was in goose defi so goose defi yet again um there was a few freak outs all right so there was a the price of goose really literally dropped from 140 to 45 yet again i wasn't really there for the the goose egg tokens it does mean that for me when the price of goose drops the amount of yield drops right so the amount of rewards i get drop but at the end of the day i'm not exposed i don't lose money right because um yet again i've been farming i'm gonna get these coins for free it just means the amount of free food i get gets reduced a little bit so right now this current point um yields honestly like if you're if you've been spoiled they don't look good oh great a hundred and four percent apy on bnb it doesn't look great or 140 on binance busd it doesn't look great uh but that being said it's still way better than banks and most other yield farming um tools out there right right you're expecting like 40 to 70 percent for stable coins on yields at this current point that being said just be aware that a lot of these farms that um goose is one of the ones that made it very popular just a deposit fee so as the um as the rewards decrease the deposit fee becomes a bigger and bigger factor say for example if it's just 146 percent and you divide it by 306 56 um 140 okay so that would mean it's around four percent per day which means it would take 10 days to recover all right assuming the egg prices are the same assuming the egg prices are it take for 10 days to recover um the deposit feedback um viking also same similar story i would say like um viking is a little bit better rates but the viking coin is also very fluctuating as well but yet again viking has around 200 percent um for some coins but they have like an egg pool which is a thousand so yet again it's looking for opportunity the other one that i think still survived is taco.finance um they're the prices were super volatile because they just launched but the initial um side was good they have around 500 percent around for coins they also have some coins for example they have uh for me linear and link so yet again as a situation that sometimes i have linear or link lying around and i just move it there and stick it there to just get some reward on my currency but just be aware of course with taco it's five percent and they have not officially had any audits at this current point of time as well just be very careful with these farms so again it's risk versus reward and talking about it too i think like we're towards the middle of the farming craze it's like relaying back some experience from defy summer was that during defy summer there were a lot of farms i mean the first yield farm that i've ever been into was yfi and that was just insane right not only did you get rewards but yfi just took off to the moon right there are many people who made like upwards like huge numbers i don't want to say huge numbers but but yeah it's like it was life-changing for a lot of people and then obviously there were subsequent yield farms that came along um some good some bad like yam um didn't work out too well for me and i learned the hard way that when you're exposed to like sometimes a lot of times with these farms right they put the put like something like this um or maybe like these these are the super high rewards ones they put these with light right um a lot of lights um if you're og you call these pool twos all right pool twos they expose you to the taco asset and so you have taco exposure and that is always risky because if taco prices go down then you're affected too you can lose money and this is how i lost money in uh yield farms very early back in defy summer um it's high risk right so these things high risk high rewards sometimes you just want those high rewards but at the same time you know being able to be smart logical and analyze situations is very key at this current point of time so that those are the kind of the pools i'm in i'm still also in wing finance i'm still also in bank oh by the way as well um last thing with the farms um there's pancake bunny uh pancake bunny uh this is also a reminder and i also want to thank people for telling me this so pancake bunny auto compounds your cake tokens right but they are also decreasing the rewards very soon so if you have been you know i've talked about pancake bunny in the past and i've used this to compound not my bunny but my but my cake right so it's 400 auto compounding um you have around 19 hours to withdraw if you do not withdraw your rewards your bunny rewards will be cut in half right so this is a psa if you've been farming bunny do withdraw like you have to withdraw and then restake if you want like to to lock in your current rewards so i think from my understanding here is that the bunny rewards will be reduced by 50 which means that if you don't withdraw in the next 19 hours all the rewards that we've earned up right now i think will get cut by half so yeah psa from there and uh yeah that's kind of to take on things all right um winner says is buying as apple buying bdc legit news i don't think it's out yeah i don't think it's real um just on that um akalish malav vali says thanks for defy advice i'm trying to start to your farming with a small bag on truefi i would love to you to review truefi and more info please i'll i'll like i said with these requests i i definitely want to do requests for people i definitely want to thank people for your donations but at the same time like um like my pipeline is crazy i don't think i've uh i don't think i have time to look into a lot of these projects um it's just completely stacked right now like um like a lot of times when i go into projects uh i'll be i'll be clear right now like i do it for for my own gains as well um obviously i've made some money in yield farming um i think that's very clear but at the same time i've also lost some money previously this time i'm much smarter um the gains were ridiculous um and a lot of times it's for my own selfish reasons um i'm not going to be completely selfless and say look um you know uh but typically speaking i just like to jump in very good opportunities um that makes sense for me um i you know i make my monies and i take my risk i make my monies and typically that's how i operate now so i don't really have time for reviewing every project typically i will be more selfish than not so apologies apologies apologies apologies apologies like like i do try to share the alpha which is i feel like it's good for this channel as well because if you guys are interested obviously you guys can find out you can do guys who do your research but i would never recommend something i think that's important to state in a channel that everything i do becomes highly highly experimental at this current point and there could be catastrophic losses including all your entire funds so just be very very careful about that but if you guys get what i mean it's it's great um all right that's pretty much it um um mr t times this i just like it because it's an algo stable that's moving away so this is um another basis clone man there's so many algo i think algo is going to come back i think the next cycle might be an algo i mean we've got these yield farms coming back and after yield farms on ethereum are algo coins right i think that was kind of the cycle um and then you throw nfts it's like crypto is like almost like a season of the month right so anyways that's pretty fun all right so before we end the stream i'm gonna let everyone talk yet again i'm just so sorry about these bots today um we'll try to figure out how to ban certain words if they're racist i think those that should be easy to ban but i would definitely want to thank the mods for helping me deal with that spam and um um i'm i'm there so let's say member mode is off let's go back let's see what everyone else is doing so let's do a quick two three minutes of that so we we're opening up the chat to everyone definitely want to hear your opinions about what's going on and get some feedback this is also kind of semi-selfish as well because i definitely want to see if you guys are scared if you guys are good i definitely want to get a gauge on what is happening um here um pot called glitches do you have engine collectibles of course i have engine collectibles i mean i was doing mts before nfts were cool you know engine x i think a lot of people don't realize this a lot of people who just recently got into um into nft collectibles they don't realize that i actually have an entire set so let me just figure this out for you guys here we have let's see marketplace rankings is there rankings listed projects let me see how this works um they changed a lot huh box mining there's an entire set here so box mining collectibles um we have quite a few assets we have this was a celebration for 2019 we gave that out to people we have prosperity box mining back in the day it was year of the pig um yeah so this was two years ago february 2019 so these are really og these are really og uh we just gave them out for free actually so back in the nft days there was an option to give away these things for free and uh yeah that's the that's the case right so yeah two years ago we definitely need to do a few more at this current point and it will be coming soon it will be coming soon um we got matt lorix says i'm scared about my massive eve position um that's typically not a good sign to be honest if you're ever scared of your position like if you feel emotion that could mean that you're overextended right like for me i do feel up emotion but i've like i've like i've managed my risks so like how do i how do i say it i feel upset that a certain portfolio is down but i don't really feel scared like fear is a feeling that i definitely don't want to be feeling in this market because it'll make you do things that you don't ever want to do not financial advice obviously but if you ever feel like if you ever feel scared that's typically for me a sign that i need to de-risk and sell and i have way too much exposure to a certain asset that's for me right not financial advice but yet again it's it's hard it's hard um we got ada beta all people talking about ada like uh ada is bleeding hard sad but what do you expect right ada was one of the biggest pushes last week um i don't know i don't know if you guys want to read comments about ada um there's one cool comment that uh it's a little bit like um all right this is crypto docs uh retweet all right so um it got a thousand something likes and a lot of retweets and i thought this was interesting it was very insightful so let me read this out let's let this be concluding so bitcoiners aren't really involved they're just throwing tomatoes from the sidelines it's all about ethereum and the next steps for defy no one actually knows no one knows exactly what's going to happen if defy is unstable a hundred dollars per transaction it has been that way for months now plebs are literally angry at ethereum i mean i i hate his language but you know plebs are angry literally angry ethereum cz is using that to bootstrap bmb bsc so binance coin and binance smart chain binance smart chain being much easier to send transactions there bitcoiners have been shitting on ethereum while competing layer ones have also been pumping there are layer ones without real code to back that up like cardano i love that side comment there and there are other layer ones with real threats like solana and maybe dot except dot is full of scams and is a giant mess literally nothing actually works right now the markets have been shitting on people and it feels like every group is just trying to steal from other groups ethereum has people have been web pigeons because eve have been massively underperforming for a while and everyone is constantly shitting on the high fees in the past the ethereum community on bitcoin community for high fees so bitcoiners are calling that hypocrisy do you see this did you see that super offensive bsc project whole past few days have been a mess and it has been a mess it has been a mess i do agree it has been a mess but anyways um i thought that was kind of interesting post i i definitely uh thought it was it was salt to every project it threw salt at dot it threw salt at ethereum it threw salt at bitcoiners it just this whole post just shat on everyone i thought it was funny if we saw at cardano um the only thing it probably didn't then throw salt at its dot so this is definitely a dot holder right there dot dot holder identified but anyways i just thought that was kind of funny i thought that it is true to some certain extent right now it's a giant shitshow right now and you know good and bad right it's crypto and um you know i think maybe like 10 years we'll laugh at it once defy has made major adoption like oh this is like how defy started and we'll tell war stories to each other we'll be like these 40 year olds or maybe in 10 20 years or these 40 year olds just sitting there haha this is what happened in the that d5 craze and uh you know this is how d5 came about it was super shady at the start but anyways uh it's kind of funny um mafia stays this unit of v3 will cut e fees yes i mean zk swap would also cut fees also we got sift chain there um there's so many of these exchanges that are trying to just go after that big giant pile of traders in that are just literally dying on eve right um getting themselves impaled at 100 fees have i paid 100 fees absolutely have i paid um five to six digits in fees yes absolutely too so you know um there oh yeah okay wait wait eggy says he threw at dot saying literally um saying nothing works okay my my bad my bad um he's probably a solana fan this is very likely a solana fan maybe yeah he threw shade at dot but he didn't throw any shade a solana so yes that's that's right bags of solana detected my bad my bad my bad my bad my bad yes he did throw he did he did throw shade at dot because nothing is full of spams right yeah giant mess nothing works right now so yeah he's a very likely a solana fan my bad uh we got break break brekkie also systematic is killing it absolutely and i think with the number of um comments right now like the spammers i think it's a great time to end this live stream guys thank you so much um for all your comments really really respect you guys um yeah come join the channel join us on stuff um it's gonna be fun so anyways guys thank you guys so much i think yeah we'll figure out a way to do a little bit better moderating but thank you guys so much for coming in next wednesday would be a more kind of um all coins based stream um daniel roger real gs says what's wrong with turning 40 it's it's me i i'm gonna age i'm aging i'm very old i'm very old i'm fearful of aging all right so that's one of my fears coming in nothing wrong with aging i'm actually aging quite quickly i'm actually gonna hit 40 sometime soon not 40 but almost halfway there almost halfway there so i don't want to say how old i am but um you know so on my way on my way on my way there so nothing wrong with 40 nothing wrong with aging um i'm fear like it's one of those things i fear in life like um you know like crypto markets don't make me afraid but but age and i don't i don't want to i don't want to get older man i want to stay young forever please please please like if there if there was like ever anything that would keep me young forever i would want to do it but there isn't so you know sucks right sucks um let me do the live stream for wednesday i'm just doing that right now just give me one quick second to get the live stream up um it will be much more all coin based we'll talk about everything that's going on um and it will be pretty cool so let me just put that up here uh wednesday wed stay new opportunities i create that stream so we'll be doing monday wednesday friday this week for our live streams i hope you guys can come on um if you guys haven't subscribed to this channel yet make sure you do that that would be very very cool uh let me just bring up the live stream here for wednesday's live stream so this would be literally in 46 hours um that that kind of helps and then let me just see that um here and here and i just want to say a big thank you to all the mods who are um deleting the spammers right now just really really thank you guys for that and with that guys let's um let's say farewell ideals until um next wednesday thank you guys so much for watching i shall see you guys next time i'll take the time now to tell you a little bit about everything that's happening in the box mining ecosystem first and foremost if you guys like listening to all that's happening in crypto on the go then i would highly recommend you checking out the box mining bitcoin out of the box podcast and the reason why it's called bitcoin out of box is because we have long interview segments very much exploring the detail of the newest and latest of what's going on in this whole cryptocurrency space whole idea of it is to bridge that gap between knowledge privileged institutional investors and the rest of us here in this space now with the podcast it's on everything so it's on apple podcast it's on google podcast it's on spotify just search anywhere bitcoin out of the box so just add that onto a playlist and let's just follow the new episodes when it's released next up we also have the box mining newsletter so this happens roughly bi-weekly we give you an update of the latest that's going on in a very summarized condensed format so this is perfect for anyone that wants an overview of the market say for example what's happening with okx the biggest event or maybe the little things like what's happening with different coins and overall the trend so what i use the newsletter for personally myself is to understand what kind of phase we're in in crypto to kind of get kind of in tune so if you don't read crypto every day the newsletter is perfect for you last but not least in the link down below if you're a telegram user we have the box mining announcements channel so this is to announce you basically what's the latest videos coming up but also we have a daily update a community driven daily update to provide you an idea of the latest updates on a day and a lot of people have been using that to get informed of the crazy amounts of trends that we see and i have to give a big thank you for claudio our community member for doing this it's just been phenomenal definitely want to give you a shout out there claudio as well for that and taking us to the end of the live stream so make sure number one you click like and subscribe on this video because it really does help this channel and then of course check out the podcast it's one of the best ways to know a little bit more to extend that knowledge especially in your spare time and then of course check out the newsletter if you're um you know if you want those updates and summaries and trends newsletter is the place for you and with that guys thank you so much for watching this video i really hope you have a good one see you in the next video so thank you