For those who want to think this is some kind of ponzi or scam. You're of course entitled to your opinion, and it doesn't bother me. However you'd be much better of pausing, doing some research and coming back with well formed argument. Because I can ensure you, you're wrong on this one, lol. At the very least watch the entire video, because I explain it pretty well. Restaking is a massive concept in the crypto space, it's been well researched, and isn't some obscure small idea from a protocol on the fringes. Also this is really early days, currently not even able to get access to any sort of yield other than the 4% from staking ETH normally. Restaking is something that's coming, and should be an interesting trend to watch over the next few years.
I say all this is the kindest way possible. Genuinely want to see you guys succeed. You can't do that blindly guessing. That means in a bull run don't just throw your money at stupid ideas without a plan and understanding. Also don't just throw money at every project you hear an influencer talk about. That also means in a bear market don't just ignore everything without even looking. Understand the space, do your research and search for good opportunities while no one else is looking. Good luck!
@@jesseeckel2 Restaking probably isn't the best wording, it more like multi-coin validators. Sort of like miners that can mine multiple coins at the same time. I think it is a really good idea, but some coins probably wouldn't want ETH to be the validator because there would be reduced staking opportunities and use for their own coins. I do think it is the best way to conserve resources and secure multiple blockchains. Do you have the link for the company currently investigating this?
Question: isn't there limited computing power even with pos? Obviously pow requires much more computing power. I don't know, I'm actually curious. And where did you get that number 400+% APR?
While I do overall agree, you should watch the entire video and hear it out. Traditionally high APR's fail due to high inflation, or other ponzinomics. This one is compelling because it's hard to see any flaws in the way it works. No high inflation for ETH, no leverage.
I doubt it will be huge returns, or very much additional risk if you secure one Eigenlayer. I'm just going in slowly. I would choose carefully though what you will restake. Eigenlayer looks good.
I usually don’t comment on crypto videos, but THIS is literally one of the best explanations of staking AND restaking!!! I am stealing this to explain blockchain to my normie friends & family. Jesse, you’re a legend, THANK YOU!
Thanks for the video. There is an issue I see when you get insane returns like 100% yearly or more, at some point a group of malicious validators can think they made enough and they will try to trick the system and even if it doesn't work and they get slashed they didn't lose anything as they made 2x in 2 years and that is much better than 8% and losing 100%. Also the security issue, if a project gets hacked and validators lose their stake the decrease of validators will certainly make the blockchain less decentralised at that moment.
You are truly amazing ! And it is awesome how everytime you are so early on the narrative that would explodes. For the restaking, check the crypto pica that has a lot of potential. 🙏🏿
I've been keeping my eye on eigenlayer for some time, glad you made a video about it. I will definitly use it as a "safe asset" to offset some risk on my portfolio in the future. Would you consider doing a video on the narratives for this next bullrun?
I have a feeling this is going to diversify the validator set. For example...you can have one validator only securing low risk ETH blockchains like ETH, Chainlink, Polygon, etc. Then you would have riskier validators securing as many ETH blockchains as possible, but with astronomical yields. Therefore, you can pick how risky you want to be with your stake, based on the validator. This is going to be HUGE.
Indeed restaking has seen remarkable growth in terms of users, TVL, and project numbers, totaling 5 billion points! The level of innovation is remarkable. I'm particularly optimistic about the potential of LP LRT leveraging projects like loop.
Thanks bro..I always do my own research also I have grown enough to take responsibility for my own actions..I have been scammed also made more than I have lost..welcome to crypto..i really appreciate and thanks at least he introduced and put to our radar these projects to start and look in to ..Jessi don’t worry about people just saying scam without explanation
You can't yet. So Eigen is in it's bootstrapping phase. For me i'm staking on Eigen using Swell as my LSD. Hoping to earn a Swell airdrop and Eigen airdrop in the future. The actual restaking part comes later this year hopefully. They're taking their time and trying to go carefully.
If you dont know where the yield is coming from, youre the yield. There's nothing of value thats generating 439% here without MASSIVE leverage risk. Doesnt seem like a legitimate opportunity from a risk adjusted perspective wiht anything more than a tiny stack of Eth thats a punt imho.
We do know where the yield is coming from though. Blockchains need to be secure. Typically this is done via emissions from the chain to stakers. However security is EXPENSIVE. Projects like ATOM, OSMOSIS,pay as high as 10% staking rewards. That’s a 10% inflation rate annually! Avax pays as high as 7% Restaking would allow them to instead pay a much lower rate of say 1-3%, massively reducing emissions and at the same time dramatically increasing security. That arbitrage is where the value is coming from. You’d be essentially getting paid in random tokens from various protocols renting ETH security.
Agreed, when it comes out I'll probably only bit a little bit in to test it. Then let some time pass to see how it holds up. Biggest risk IMO is smart contract risk, which is very real with newer protocols.
Hi on your game analogy with the 200 dollar put up for restaking is this if 1 slashing event occurs on 1 protocol or chain which ever the AVS is that your restaking on you’ll lose all of your restake eth for all the AVS’s or just on that 1 particular AVS that the slashing occurred? In other words would it be an isolated incident just for that AVS ?
Great question! I think there are nuances here depending on overall stake and how it’s set up. But generally to answer your question if one AVS caused a slashing event then it would slash your entire stake from my understanding. So risk is you pile in 200 new things your restaking for you have technically 200x more increase in potential to get slashed. But, you also control if you get slashed. You have to do something to break the rules.
Thanks Jesse! Always like your videos. I am hyped on the idea of restaking but as i understand it (no expert) I do see an issue that I don't think you are too clear about. So i stake my ETH and restake to project B then C then D etc. And yes even though Eth hasnt been hacked (techically) that doesn't mean prohect Q that ive restaked into wont. Then i get slashed, lose it all and have to start again. Do i get this right? Thoughts? Gotta do my research of course but luna also looked solid right?
So there’s risk of getting slashed but it wouldn’t matter if the protocol you were validating for got hacked or anything like that. It would be based on predefined slashing conditions, they couldn’t access your funds by hacking that external protocol or trigger those slashing conditions. Then there’s also the smart contract risk for Eigen Layer which is a real risk IMO. I’m sure they’ll be audited to an insane degree and there’s a lot of people with eyes on Eigen looking at the code base, and from my understanding it’s not like a bridge where there’s this giant honey pot of capital. The capital is always staked in the validator so even an Eigen Layer exploit wouldn’t allow a hacker to access capital which leaves little incentive for a hack unless they’re like shorting and eventual Eigen token or ETH. Which going deeper if you’re staked with Lido, etc that smart contract could be exploited though, which is still the same risk that’s already present with staking ETH
I mean I think most people agree, yet again if you watched the video and understand how it works. In theory it’s very difficult to identify where the high risk comes from.
The logical conclusion being maybe crazy higher yields for a while with little risk until more and more people pile into pushing down yields. Which means more and more people holding ETH. So net result is higher ETH prices? Theoretical of course, will be interesting to see in practice.
@@jesseeckel2 hmm maybe. But 400% is so high that it basically has to come down super fast or have high risk. Just think how much 400% is that's insane. My point is not to say this investment is bad or a scam or anything like that its just that there is no "guaranteed, easy, free" money.
Ah, 400% is a theoretical number I'm throwing out. Theoretically the potential yield is uncapped depending on how many protocols use it. If only 3 signup and offer 2% yield then total yield would be about 10%. But I'll counter what you said by pointing to early BTC miners. They made a FORTUNE and did it very easily. However I'll counter myself by also pointing out where the yield came from was being an early risk taker. Occasionally these types of opportunities do exist, but no one should jump into something like this without fully understanding it.
For this bullrun in 2024 I have 20.000 euro's in altcoins, this could make me a millionaire... I have hopes, and also for staking, but I'm a little confused with this restaking, I mean... If I'll make a lot of money I'll just put it on USDthether and get 5,10% every year from my massive gains, what do you think? Should I go for this restaking?
@@jesseeckel2 I'll think about it, maybe it'll pump massive do to the new and exiting method. BTW, don't you think it's odd that gold was getting really popular to have in the 1970s, exactly 50 years later, 2020 crypto became the most popular thing, because of corona and other circumstances. Maybe there will be a new crypto that will help the sick people that got hit by corona last cycle.. Who knows.
I like to say sometimes things are both good and true. Although I also agree it pays to be paranoid and skeptical of everything. There’s a balance, be skeptical and make sure you understand everything for yourself, but also remain open to possible opportunities and don’t dismiss things at first glance.
Jesse, that was a decent explanation of the Bitcoin blockchain, but you got one crucial thing wrong. You stated that each miner had a copy of the blockchain, which most people running miners also run a full node. Full nodes don't hash to mine the next block or generate revenue. They also don't require much cost to operate and are actually what secure the Bitcoin blockchain acting as validators for the blocks submitted by the miners.
I was just simplifying it so people could easily understand the general concept. Both are much more complicated than that, but helps people get the general idea. Thanks for adding more details!
@davycrockett8886 While miners are important, you still rely on every node for concensus among the network. If some of the miners decide they want to fork BTC and mine a separate chain, that's fine. However, if they tried publishing those blocks with the changed code to the true chain they would be rejected by everyone else running the original code. That's how we get shitcoins like BCH. Miners and full notes both work to secure the network, so you're no wrong.
@@tristanpina2666 But that is of such limited importance as they follow the chain with the most hash power, don't they? Unless they decide to follow another chain then they follow whoever has the most hash power there. My point is they have no real power of where the chain goes.
Thank you! But you should be doing your own research, not everything I talk about I invest into myself (unless I clearly say I bought it, then obviously I do). I also adjust over time based on the market and developments so not everything I buy I hold forever, lol, obviously. That's why personal research is critical. Buying is only one part of the equation. Good luck!
@@michaelpeters78 Its only the stuff that he invests in btw, if you shows 10 cryptos and he only invests in 3 then I will only invest in 3, its just a test ive invested about 80$ now
Restaking is huge. You choose how much additional risk to take on. I doubt it will be much additional risk if you just secure one more blockchain. If you secure a 100 more blockchains, maybe risky. If you just do 100 more copies of Eigenlayer probably less risky.
@@jesseeckel2 no sir, was for your trading bot program. Got home hopped online went to purchase and it was closed unfortunately I thought there was time still since it was around 10pm where I was. Not sure what you are referring to however.
Yeah I had to close it manually, so just closed it during the day. Can’t get you in early but remind me when it opens back up and I’ll get you the same discount for GTS
Hey just fyi Bitcoin miners dont "solve complicated math problems", its much simpler, they are just constantly guessing a number within a range, I could be wrong but pretty sure thats what's actually happening I read it in a book
Ethereum has been hacked before, (though its much more difficult and costly today), back in 2016 with the Dao which resulted in a fork and the current version we have today with the original being Ethereum classic
A potential downside of being able stack the restaking to secure multiple blockchains is that it will put downward pressure on the reward to validate a blockchain. Currently they are paying 4% annually but if the stacking of chains on a single validator is possible then the reward could move down from 4% to 2% and so on down until it becomes almost nothing. When the reward becomes almost nothing then nobody may bother to do the validating and that could make the blockchain fall apart.
Well ok you're half right. More people staking would push rewards down for ETH. However you'd have a ton of people staking and it'd be MORE secure not fall apart. If people didn't like staking for smaller rewards they'd unstake which would increase rewards which would cause more people to stake which would reduce rewards, you get the idea. It ebbs and flows.
Are you sure that's correct? I feel this will be an aggregator of staking chains, but each chain has its own rules and validators. When you stake, it will probably be distributed amongst their validators on multiple chains automatically, but that doesn't multiply the returns, it's just diversifying. The only way this idea would work in the way you explained it is that ETH will work the same way as Polkadot, having all their layer 2 side-chains using the ETH validators. Big IF..
Other chains opt into restaking. So they'd say "hey we want our network to be more secure and to pay less in emissions so we'll pay 3% to anyone who secures our chain via restaking."
Back to building confidence to your audience then slowly leading them all into rug pulls as you did in in 2022? Remember the internet has receipts even if you decide to delete all your videos. Other youtubers didn't.
Well I respectfully watched the entire video and liked the fact you cleverly put a disclaimer at the end saying you’ll keep an eye on it, so I guess you’re not so sure on this. Also I personally don’t think ETH is a good investment but time will tell. Btw you didn’t explain Bitcoin mining but Nodes. They are the ones actually checking the Bitcoin ledger making sure it stays immutable.😅
@ciizzz2245 You're correct about the nodes. But why did he say he'll keep his eye on it... Well, you can never trust anyone in crypto. Unless it's regulated. So gotta be careful. Although I agree, this video is sus, sounds like a promotional video. At the same time you never know, what's bad about raising awareness? If you think ETH isn't a good investment, what is it then? :D :D :D
@@antonylooduseth is a dinosaur compared to projects like QNT, HBAR, CSPR and specially XRP. It’s not a bad investment, but the returns you will get from those projects I mentioned is far superior to what eth will do.
I'm guessing you didn't actually watch the video all the way or spend even 5 minutes looking it up. Not a good trait as an investor and honestly hope you'll take a deeper dive. That's how you build discernment in the space. Eigenlayer is far from a ponzi, I explained it well in the video. Restaking is a new primitive in the crypto space. It's well researched and theoretically safe. If you want to judge for yourself though again, do the research. Worth learning about new ideas, Bitcoin was a "ponzi" for years before it was accepted.
I made a lot of money on my Titano play and so did a lot of people, Sphere I’m about breakeven, but you are right that Yield Nodes did turn out to be a scam. Will point out thought I like ultra emphasize people shouldn’t be blindly copying what I’m doing and instead should do their own research. I also never “suggest” anyone invest into anything ever. The reason I emphasize people shouldn’t copy me so much is because just like with any investment, being “successful” depends on when you buy and when you sell. Pretty insane to say everything I talk about turns out to be a scam though. I made way more money than I lost last cycle. You act as if every asset someone buys should go up forever. That’s not how investing works, you buy low and sell high. Again that’s why people shouldn’t blindly copy random strangers on the internet. No short cut for putting in the hard work.
I love youre content.. usually. But that "solving complex math problems" explanation.. needs to go. Soo tired of hearing it. Just say bitcoin mining is bruteforcing. Because it is. Please.
I was just trying to make it super simple for the average person to understand. I get it was an oversimplification. I think though that most people sort of need that. Especially with something like restaking which is complex from the get go for most people.
For those who want to think this is some kind of ponzi or scam. You're of course entitled to your opinion, and it doesn't bother me. However you'd be much better of pausing, doing some research and coming back with well formed argument. Because I can ensure you, you're wrong on this one, lol.
At the very least watch the entire video, because I explain it pretty well. Restaking is a massive concept in the crypto space, it's been well researched, and isn't some obscure small idea from a protocol on the fringes. Also this is really early days, currently not even able to get access to any sort of yield other than the 4% from staking ETH normally. Restaking is something that's coming, and should be an interesting trend to watch over the next few years.
I say all this is the kindest way possible. Genuinely want to see you guys succeed. You can't do that blindly guessing. That means in a bull run don't just throw your money at stupid ideas without a plan and understanding. Also don't just throw money at every project you hear an influencer talk about. That also means in a bear market don't just ignore everything without even looking. Understand the space, do your research and search for good opportunities while no one else is looking.
Good luck!
@@jesseeckel2 Restaking probably isn't the best wording, it more like multi-coin validators. Sort of like miners that can mine multiple coins at the same time. I think it is a really good idea, but some coins probably wouldn't want ETH to be the validator because there would be reduced staking opportunities and use for their own coins. I do think it is the best way to conserve resources and secure multiple blockchains. Do you have the link for the company currently investigating this?
Viewed the whole video, it looks and sounds to good to be true. You probably know how this type of thins end up
Question: isn't there limited computing power even with pos? Obviously pow requires much more computing power. I don't know, I'm actually curious. And where did you get that number 400+% APR?
If you just search Eigen Layer it’ll pop up.
one thing I learned (the hard way) last bull cycle was that high APR's usually lead to ponzi wrecked city.
While I do overall agree, you should watch the entire video and hear it out. Traditionally high APR's fail due to high inflation, or other ponzinomics. This one is compelling because it's hard to see any flaws in the way it works. No high inflation for ETH, no leverage.
Each to their own. I will not lose any money on scams. (Watched the whole video)
Appreciate you at least taking the time to hear it out. And respect your opinion
I doubt it will be huge returns, or very much additional risk if you secure one Eigenlayer. I'm just going in slowly. I would choose carefully though what you will restake. Eigenlayer looks good.
The design determines a ponzi. Eigenlayer doesn't have a ponzi design afaik.
I usually don’t comment on crypto videos, but THIS is literally one of the best explanations of staking AND restaking!!! I am stealing this to explain blockchain to my normie friends & family. Jesse, you’re a legend, THANK YOU!
Crypto is unlocking our future.
Thanks for the video. There is an issue I see when you get insane returns like 100% yearly or more, at some point a group of malicious validators can think they made enough and they will try to trick the system and even if it doesn't work and they get slashed they didn't lose anything as they made 2x in 2 years and that is much better than 8% and losing 100%. Also the security issue, if a project gets hacked and validators lose their stake the decrease of validators will certainly make the blockchain less decentralised at that moment.
You are truly amazing ! And it is awesome how everytime you are so early on the narrative that would explodes. For the restaking, check the crypto pica that has a lot of potential.
🙏🏿
Thank you! Although I do get it wrong a lot too, lol.
Also i'm in PICA! it's been crushing it.
I've been keeping my eye on eigenlayer for some time, glad you made a video about it.
I will definitly use it as a "safe asset" to offset some risk on my portfolio in the future.
Would you consider doing a video on the narratives for this next bullrun?
Great idea!
I have a feeling this is going to diversify the validator set. For example...you can have one validator only securing low risk ETH blockchains like ETH, Chainlink, Polygon, etc. Then you would have riskier validators securing as many ETH blockchains as possible, but with astronomical yields. Therefore, you can pick how risky you want to be with your stake, based on the validator. This is going to be HUGE.
Indeed restaking has seen remarkable growth in terms of users, TVL, and project numbers, totaling 5 billion points!
The level of innovation is remarkable. I'm particularly optimistic about the potential of LP LRT leveraging projects like loop.
hello from Brazil... this video was the best explanation on the entire internet
Thanks!🙏🏻🙏🏻🙏🏻
That is a very good example of block chain!
Thanks!
Thanks bro..I always do my own research also I have grown enough to take responsibility for my own actions..I have been scammed also made more than I have lost..welcome to crypto..i really appreciate and thanks at least he introduced and put to our radar these projects to start and look in to ..Jessi don’t worry about people just saying scam without explanation
Thanks🙏🏻
Great explanation dude!
Appreciate you man..awesome job bro
very well explained!
Could you do a video on what the process is after staking on eigenlayer in order to stake multiple times.
You can't yet. So Eigen is in it's bootstrapping phase. For me i'm staking on Eigen using Swell as my LSD. Hoping to earn a Swell airdrop and Eigen airdrop in the future. The actual restaking part comes later this year hopefully. They're taking their time and trying to go carefully.
Goood explanation would like to see a video on the new restaking options. You never mentioned the biggest reason to stake with Eigenlayer either 😁
You mean the airdrop?😜
If you dont know where the yield is coming from, youre the yield. There's nothing of value thats generating 439% here without MASSIVE leverage risk. Doesnt seem like a legitimate opportunity from a risk adjusted perspective wiht anything more than a tiny stack of Eth thats a punt imho.
We do know where the yield is coming from though.
Blockchains need to be secure. Typically this is done via emissions from the chain to stakers.
However security is EXPENSIVE.
Projects like ATOM, OSMOSIS,pay as high as 10% staking rewards. That’s a 10% inflation rate annually!
Avax pays as high as 7%
Restaking would allow them to instead pay a much lower rate of say 1-3%, massively reducing emissions and at the same time dramatically increasing security.
That arbitrage is where the value is coming from.
You’d be essentially getting paid in random tokens from various protocols renting ETH security.
@@jesseeckel2 very interesting, let’s see how it plays out a bit and could be a lucrative little punt
Agreed, when it comes out I'll probably only bit a little bit in to test it. Then let some time pass to see how it holds up. Biggest risk IMO is smart contract risk, which is very real with newer protocols.
Hi on your game analogy with the 200 dollar put up for restaking is this if 1 slashing event occurs on 1 protocol or chain which ever the AVS is that your restaking on you’ll lose all of your restake eth for all the AVS’s or just on that 1 particular AVS that the slashing occurred? In other words would it be an isolated incident just for that AVS ?
Great question!
I think there are nuances here depending on overall stake and how it’s set up.
But generally to answer your question if one AVS caused a slashing event then it would slash your entire stake from my understanding.
So risk is you pile in 200 new things your restaking for you have technically 200x more increase in potential to get slashed.
But, you also control if you get slashed. You have to do something to break the rules.
Thanks Jesse! Always like your videos.
I am hyped on the idea of restaking but as i understand it (no expert) I do see an issue that I don't think you are too clear about.
So i stake my ETH and restake to project B then C then D etc. And yes even though Eth hasnt been hacked (techically) that doesn't mean prohect Q that ive restaked into wont. Then i get slashed, lose it all and have to start again. Do i get this right? Thoughts?
Gotta do my research of course but luna also looked solid right?
So there’s risk of getting slashed but it wouldn’t matter if the protocol you were validating for got hacked or anything like that. It would be based on predefined slashing conditions, they couldn’t access your funds by hacking that external protocol or trigger those slashing conditions.
Then there’s also the smart contract risk for Eigen Layer which is a real risk IMO.
I’m sure they’ll be audited to an insane degree and there’s a lot of people with eyes on Eigen looking at the code base, and from my understanding it’s not like a bridge where there’s this giant honey pot of capital. The capital is always staked in the validator so even an Eigen Layer exploit wouldn’t allow a hacker to access capital which leaves little incentive for a hack unless they’re like shorting and eventual Eigen token or ETH.
Which going deeper if you’re staked with Lido, etc that smart contract could be exploited though, which is still the same risk that’s already present with staking ETH
I'm very interested in trying this out!
Me too, when it’s out😂 Hopefully soon🙏🏻
Still hurting from wonderland
Jesse can you confirm if it has started under eigenlayer just yet ?
As far as I know Eigenlayer isn't fully live yet. You can just lock ETH currently but no restaking right now.
as a purely logical consequence any high yield must come with high risk so keep that in mind when investing.
I mean I think most people agree, yet again if you watched the video and understand how it works. In theory it’s very difficult to identify where the high risk comes from.
The logical conclusion being maybe crazy higher yields for a while with little risk until more and more people pile into pushing down yields.
Which means more and more people holding ETH. So net result is higher ETH prices?
Theoretical of course, will be interesting to see in practice.
@@jesseeckel2 hmm maybe. But 400% is so high that it basically has to come down super fast or have high risk. Just think how much 400% is that's insane. My point is not to say this investment is bad or a scam or anything like that its just that there is no "guaranteed, easy, free" money.
Ah, 400% is a theoretical number I'm throwing out. Theoretically the potential yield is uncapped depending on how many protocols use it. If only 3 signup and offer 2% yield then total yield would be about 10%.
But I'll counter what you said by pointing to early BTC miners. They made a FORTUNE and did it very easily. However I'll counter myself by also pointing out where the yield came from was being an early risk taker. Occasionally these types of opportunities do exist, but no one should jump into something like this without fully understanding it.
For this bullrun in 2024 I have 20.000 euro's in altcoins, this could make me a millionaire... I have hopes, and also for staking, but I'm a little confused with this restaking, I mean... If I'll make a lot of money I'll just put it on USDthether and get 5,10% every year from my massive gains, what do you think? Should I go for this restaking?
Restaking isn't quite out yet so more of a think to just keep and eye on and watch. Not 100% how it'll play out.
@@jesseeckel2 I'll think about it, maybe it'll pump massive do to the new and exiting method.
BTW, don't you think it's odd that gold was getting really popular to have in the 1970s, exactly 50 years later, 2020 crypto became the most popular thing, because of corona and other circumstances. Maybe there will be a new crypto that will help the sick people that got hit by corona last cycle.. Who knows.
Looks and sounds to good to be true. Therefore it’s probably not true and you’ll lose all your money. Scams are all over the place
I like to say sometimes things are both good and true.
Although I also agree it pays to be paranoid and skeptical of everything.
There’s a balance, be skeptical and make sure you understand everything for yourself, but also remain open to possible opportunities and don’t dismiss things at first glance.
Those who never take risks also never succeed
6:04. You’re welcome.
Can you do airdrop hunting update?
Jesse, that was a decent explanation of the Bitcoin blockchain, but you got one crucial thing wrong. You stated that each miner had a copy of the blockchain, which most people running miners also run a full node. Full nodes don't hash to mine the next block or generate revenue. They also don't require much cost to operate and are actually what secure the Bitcoin blockchain acting as validators for the blocks submitted by the miners.
I was just simplifying it so people could easily understand the general concept. Both are much more complicated than that, but helps people get the general idea. Thanks for adding more details!
What are you talking about? Mining nodes secure Bitcoin not the people running non mining nodes.
@davycrockett8886 While miners are important, you still rely on every node for concensus among the network. If some of the miners decide they want to fork BTC and mine a separate chain, that's fine. However, if they tried publishing those blocks with the changed code to the true chain they would be rejected by everyone else running the original code. That's how we get shitcoins like BCH. Miners and full notes both work to secure the network, so you're no wrong.
@@tristanpina2666 But that is of such limited importance as they follow the chain with the most hash power, don't they? Unless they decide to follow another chain then they follow whoever has the most hash power there. My point is they have no real power of where the chain goes.
This could be big
It could be, we’ll see🤷🏼♂️
Thanks for the video🙏🏼 But ethereum was actually hacked in 2016, right?
No a DAO was not the blockchain.
Thanks!
You are the best man, ive invested 1$ in every project youve talked about and ill see if your profitable
Thank you! But you should be doing your own research, not everything I talk about I invest into myself (unless I clearly say I bought it, then obviously I do). I also adjust over time based on the market and developments so not everything I buy I hold forever, lol, obviously. That's why personal research is critical. Buying is only one part of the equation. Good luck!
@@michaelpeters78 Its only the stuff that he invests in btw, if you shows 10 cryptos and he only invests in 3 then I will only invest in 3, its just a test ive invested about 80$ now
Restaking is huge. You choose how much additional risk to take on. I doubt it will be much additional risk if you just secure one more blockchain. If you secure a 100 more blockchains, maybe risky. If you just do 100 more copies of Eigenlayer probably less risky.
Lol I remember back in the days when we had 51 percent attacks and forks left and right we've come so far
We have🙌🏻 was expecting some of the newer blockchains to see some of these but never happened.
It is 50%+1, you know. right?
Man, got so disappointed when I went to join up when I got back home and for some reason 10pm was too late on the closing. 😔
For Eigen?
@@jesseeckel2 no sir, was for your trading bot program. Got home hopped online went to purchase and it was closed unfortunately I thought there was time still since it was around 10pm where I was. Not sure what you are referring to however.
Oh got it! Yes unfortunately it’s closed for a bit. Should open back up sometime next year though! You can jump on the waiting list🥳
@@jesseeckel2 I did, just was disappointed it closed early. I figured 10pm in Chicago I had time is all.
Yeah I had to close it manually, so just closed it during the day. Can’t get you in early but remind me when it opens back up and I’ll get you the same discount for GTS
Hey just fyi Bitcoin miners dont "solve complicated math problems", its much simpler, they are just constantly guessing a number within a range, I could be wrong but pretty sure thats what's actually happening I read it in a book
Interesting coins, it will still be more productive to earn on the Crypton cryptocurrency.
Ethereum has been hacked before, (though its much more difficult and costly today), back in 2016 with the Dao which resulted in a fork and the current version we have today with the original being Ethereum classic
The DAO was hacked the blockchain wasn’t.
The DAO is something built on top of ETH the actual blockchain that is ETH has never been hacked
@@jesseeckel2 very true
A potential downside of being able stack the restaking to secure multiple blockchains is that it will put downward pressure on the reward to validate a blockchain. Currently they are paying 4% annually but if the stacking of chains on a single validator is possible then the reward could move down from 4% to 2% and so on down until it becomes almost nothing. When the reward becomes almost nothing then nobody may bother to do the validating and that could make the blockchain fall apart.
Well ok you're half right. More people staking would push rewards down for ETH. However you'd have a ton of people staking and it'd be MORE secure not fall apart. If people didn't like staking for smaller rewards they'd unstake which would increase rewards which would cause more people to stake which would reduce rewards, you get the idea. It ebbs and flows.
Are you sure that's correct? I feel this will be an aggregator of staking chains, but each chain has its own rules and validators. When you stake, it will probably be distributed amongst their validators on multiple chains automatically, but that doesn't multiply the returns, it's just diversifying. The only way this idea would work in the way you explained it is that ETH will work the same way as Polkadot, having all their layer 2 side-chains using the ETH validators. Big IF..
Other chains opt into restaking. So they'd say "hey we want our network to be more secure and to pay less in emissions so we'll pay 3% to anyone who secures our chain via restaking."
Chains would do this INSTEAD of their own staking model. Reason would be: cheaper for the protocol, more secure and network effects
Wow!!
But you are not the one staking. You give your money to a pool and they stake on your behalf. So you can lose if your pool cheats
Back to building confidence to your audience then slowly leading them all into rug pulls as you did in in 2022?
Remember the internet has receipts even if you decide to delete all your videos. Other youtubers didn't.
Dont people use the word scam so loosely these days. I believe in doing our own research, though i start that and dont get anywhere😅
Well it’s a learned skillset but worth practicing!
I thought that the 32 ETH were locked when stacked for securing the blockchain, which makes re-staking impossible 🤔
Restaking is just adding on extra slashing conditions and layers on top of that base layer.
Far from impossible, as clearly it's being done😜
This is very similar to partner chains or sidechains. Cardano has been setup to do this starting with Midnight.
Loved your early videos when you were not promoting scams! 😅 Please ppl don’t fall for it, you’re already losing enough money due to inflation 😊
This isn't a scam. What makes you think it is?
Well I respectfully watched the entire video and liked the fact you cleverly put a disclaimer at the end saying you’ll keep an eye on it, so I guess you’re not so sure on this. Also I personally don’t think ETH is a good investment but time will tell. Btw you didn’t explain Bitcoin mining but Nodes. They are the ones actually checking the Bitcoin ledger making sure it stays immutable.😅
@ciizzz2245 You're correct about the nodes. But why did he say he'll keep his eye on it... Well, you can never trust anyone in crypto. Unless it's regulated. So gotta be careful. Although I agree, this video is sus, sounds like a promotional video. At the same time you never know, what's bad about raising awareness?
If you think ETH isn't a good investment, what is it then? :D :D :D
@@antonylooduseth is a dinosaur compared to projects like QNT, HBAR, CSPR and specially XRP. It’s not a bad investment, but the returns you will get from those projects I mentioned is far superior to what eth will do.
@@jesseeckel2How are Sphere and Titano doing? ....
Imagine…..but lots of yield of shitcoins will be pointless
ETH on ICP soon
“Limited risk”. lol. This is Luna 2.0.
bad idea
I guess we'll see!
you still make those videos whosing ponzi systems? no lesson learned?
I'm guessing you didn't actually watch the video all the way or spend even 5 minutes looking it up. Not a good trait as an investor and honestly hope you'll take a deeper dive. That's how you build discernment in the space. Eigenlayer is far from a ponzi, I explained it well in the video. Restaking is a new primitive in the crypto space. It's well researched and theoretically safe. If you want to judge for yourself though again, do the research. Worth learning about new ideas, Bitcoin was a "ponzi" for years before it was accepted.
@@jesseeckel2 bro i know you since last cycle, you only promote ponzi systems
wht happened to ur ponzi sphere finance whom u said will b among top ten cryptos hahahahah
@@jahankhan6375 which video was it
@@jesseeckel2be careful Jesse, remember Yield Nodes? Don’t get caught in more scams. This sure sounds like one
Just buy btc and start listening to music instead of wasting time on finfluencers.
Did you mean do say Finfluencers? Because if you did thats genius😆
Yeild nodes, Titan , Sphere and whatever now x everything you suggest turns out to be a scam
I made a lot of money on my Titano play and so did a lot of people, Sphere I’m about breakeven, but you are right that Yield Nodes did turn out to be a scam.
Will point out thought I like ultra emphasize people shouldn’t be blindly copying what I’m doing and instead should do their own research. I also never “suggest” anyone invest into anything ever. The reason I emphasize people shouldn’t copy me so much is because just like with any investment, being “successful” depends on when you buy and when you sell.
Pretty insane to say everything I talk about turns out to be a scam though. I made way more money than I lost last cycle. You act as if every asset someone buys should go up forever. That’s not how investing works, you buy low and sell high. Again that’s why people shouldn’t blindly copy random strangers on the internet. No short cut for putting in the hard work.
Also I say all this in the kindest way possible. Hope you hear what I’m saying. Good luck!
You are probably new in crypto. Ethereum was hacked, that's why there is an eth classic, the old blockchain. Bye.
Ethereum wasn't hacked. The DAO was hacked. The blockchain has never been compromised.
bro is extremely good looking i thought it was de caprio 😅
Huge compliment thanks!😆
I love youre content.. usually. But that "solving complex math problems" explanation.. needs to go. Soo tired of hearing it. Just say bitcoin mining is bruteforcing. Because it is. Please.
I was just trying to make it super simple for the average person to understand. I get it was an oversimplification. I think though that most people sort of need that. Especially with something like restaking which is complex from the get go for most people.
Total ponzi
Scam
Not a scam, explain to me why you think it is.