LinksHasu TwitterWebShow PartnerThis episode is presented by FTX. Trade on an awesome mobile interface fee-free, and still get all the great portfolio tracking features you know and love: https://uponly.tv/ftxShow NotesHasu Twitter Day– Everyone has become a Hasu on twitter today– pplpleasr became Hasupleasr lolHasu’s Day to Day– Basically thinks about stuff and writes it down– Has been getting back into the dating scene– Uses his actual photo, not Hasu anime pfp– It’s been 18 years since Ledger has been datingBackground– Joined crypto January 2018 at the absolute top– Played pro poker for a decade– So many people who used to play poker are now in crypto– Gambling addicts?– Not very competitive anymore because bad players lose interest, good players keep getting better– Fully dove into crypto in peak bear marketStarting Crypto– Everyone always feels behind when they start– Doesn’t take very long to actually catch up– Hasu worked on himself to keep learning for 2 years– Bear market best time to learn – only people who really care are studying then– Su Zhu and Hasu started talking and writing together every day– Now they run Uncommon Core Podcast togetherBear Market– Developed 2 strong beliefs: Bitcoin & DeFi– Had a thesis written out like 1.5 years before DeFi summer but still didn’t recognize DeFi summer as DeFi for awhileNew Guys– Cobie: “What would you recommend new guys do in this market?”– If Hasu had derisked every time his gut said to he’d be worse off– Ledger: “Santiago says time in the market, not timing the market”– Cobie: “For 95% of people, just holding and forgetting is the best strategy”Leverage– Hasu’s 2 pieces of advice for the 100 IQers – pay attention to fees and taxes & don’t use leverage– Cobie: “Everyone who comes on this show that made it said don’t use leverage”– Hasu: “If you use leverage, trade on a platform with sub accounts and one that has partial liquidations”Interesting Problems in Crypto– The security of public blockchains– MEV and protecting people from leaking money to miners if they don’t intend toMEV (Miner Extractable Value)– Common example of MEV is a sandwich attack: miner sees order with 5% slippage, sneaks in trade before to frontrun, cause max slippage then sell right at the end– Locked in guaranteed profit for miner and loss for trader*Hasu connection rug followed by OOOOOR meme breakdown by Cobie and Ledge*MEV pt. 2– Ledger: “Does MEV really exist for other chains?”– Hasu (in short): “Yes but it takes on a different form”– If there is value to being behind or before orders in a block, people will always spend up to that amount to extract it– Actually isn’t always bad – resembles mining to a certain extent and makes the market efficientMoar MEV– Flashbots/ Eden kinda like the infrastructure– Flashbots is like a soft fork of ETH with a new transaction time where transactions go into a private pool– These transactions are private until they land on chain– Then it doesn’t matter until what your slippage is set it– Punk floor got swept with MiningDAO, executed all at once without allowing anyone to frontrunGuest Question– I’m not going to pretend to be able to take notes on this answerMOOOOOAR MEV– Eden is faster than flashbots since they forked– Flashbots required much more technical knowledge to be able to submit a transaction to them– Eden is much easier to use– Chainlink is in the position to extract a lot of value– Lending markets could do a better job– Wallets are in the best position to protect users from MEV– Could run local simulations to see if it would create MEV, and if it would, you could bundle the transaction with the MEV and give the V back to the userBitcoin Security– Udi said it’s 100 years away, false moral panic– It’s so cheap to reorg ETC that it takes like 2 weeks to get finality– If Bitcoin security drops too low, you need to increase the amount of wait time for finality– It’s agreed that there is some amount of security fee we should pay to miners– But how much that