121. Our 2023 Crypto Wins, Losses, & Reflections

He was degening so hard he got into a coin that was sub $3,000 market cap, pumped the price, then had no one to sell into because there was no liquidity. So he became the liquidity. He gave liquidity to the market maker and it all got completely rugged and.

He lost everything, mate. He's like, it's like that meme. Look at me, I'm the liquidity now.

Welcome back to another episode of the Ben and Bergs Podcast. I'm Ben, your favorite high school dropout and founder of collective shift alongside Ms. Bergs, your favorite MBA and CEO of Collective Shift. Join us as we bring you world class crypto research and strategies to help you dominate this crypto bull market as well as a behind the scenes view of scaling a fully remote crypto subscription business here in Australia. And today we're doing a bit of a look back on 2023, the year that was some, some lessons Learned theme of 2023. What we got right, what we got wrong and where we see some of the Trends happening in 2024. Been a massive year. Burges like lots of stuff I guess has occurred in, in my mind the things that really stick clear to me is like 2023 being the theme of just the industry being cleaned up, a lot of, you know, people in the space doing the wrong thing. And crypto really came in the limelight of this industry that was full of scammers and you know, just people going rogue and the industry really got put into disrepute for a long time. But you know, fundamentally the assets haven't changed. Nothing's happening with Bitcoin and Ethereum. They're all doing the same thing, but just the people around it. I think it's been good to clean some of those names out. You know, for example, FTX founder Sam Bankman Fried was found guilty on all charges. Terror founder Do Kwon was arrested and he said to be extradited to the US or South Korea. Celsius's Alex Mashinsky was arrested and faces a trial next year. 3ac founder Zu Su was arrested and facing court. And even more recently Binance and CZ settled with the CFTC in the Department of Justice. So yeah, the last 18 months really has been a wave of bankruptcies and, and scam is really, really damaging the reputation of, of crypto. And I think many of the things that happen in 2022, those people have now been held accountable and hopefully drawing a line in the sand for the industry to mature and grow into 2024 because gez there was just so much crap the last 24 months like hopefully we can all put that, put that behind us.

Isn't it interesting where it's the people doing the things right and predominantly the most of those people have either run ICOs or run exchanges and the way they're doing that and they've got in trouble for it yet the underlying assets have just been innovating, improving. They prove they are anti fragile where they've actually benefited from this disorder which is absolutely incredible. They've come back stronger and now we've got ETFs on the horizon for both Bitcoin and Ethereum.

Yeah, it's allowed these bigger institutions to start to come into the space and there's been a plethora of those in 2023. So some of the names that came into the space were visa, continuing their stablecoin settlement pilots on Ethereum and Solana. PayPal launched their stablecoin the PyUSD Australian bank nab nab bank partner with Zodia and they're starting to pilot institutional custody in the new year, which is really cool. We saw them announce that Oscar Berkon Anz was testing chainlinks, cross chain interoperability protocol which is really cool. Then we saw some international banks in Germany, Deutsche bank was a big one there that started granting crypto licenses and custody services. Some banks in France stepped up to further in crypto, Brazilian banks started to lean into crypto and even JP Morgan started to test public and private blockchain products. So you know, it was really clear that after 2022 as a complete disaster in terms of all the, you know, those exchanges blowing up, financial institutions continue to look into this space to launch their own crypto or blockchain products, which is really, really cool.

And if we look at this from like interconnected systems view, what have we got here? We've got crypto, this asset, it's pumping. Then rich people, their funds and family offices and hedge funds, they're like, you're only giving me 16%, these guys are making 8,000% what is going on and exposure to this asset and all. And then there's more degeneracy, more people are losing money. You'll have more complaints from the general public, more scams, but also richer people. Well, people that have more money want to get into this space. So the whole thing needs a shakeout and a cleanup before all of these institutions can come through. And when we say institutions, it's not just institutional investors, but actual companies like Visa, PayPal, banks that want to do custody. They needed that shakeout and cleanup to happen in order for them to enter the space.

Yeah, 100%. They're not just going to come piling into an industry that's wrought with danger. It needs regulation, it needs clear barriers. And these bigger institutions are not heading into altcoins. You know, these guys are going to BTC and eth. It's where they're storing their capital and that's where a lot of that institutional, institutional money is going to be heading. So yeah, really good to clean up all of that. Now. What do we get right? What do we get wrong? Well, what do we get wrong? To begin with, we really didn't see a lot of the stablecoin supply grow like we thought. So although we did see bigger players such as the PayPal PyUSD launch. Supply of all other stablecoins besides USDT declined.

It basically fell downwards for the first eight months of the year, recording 18 straight monthly declines and bottomed at about $123 billion. So yeah, really 2023 was a bit of a quiet year. I mean it wasn't just, it was wasn't that long ago burgs like a few months back, like we were deep in a pretty bare market. Like yes, bitcoin had sort of rallied, but still the, the sentiment around the space was really bearish.

I'm so surprised in the last month how the sentiment has changed. So probably since November when we went to the OZ crypto conference and even now on Twitter like my feed is just. And my DMs and my notifications just filled with hey Airdrop, join this thing. New token launch. All these guys are back. I brought you this token. I brought you that. This is the next token you need to get on this Airdrop. You need to join my community. Like everyone's come out of the woodwork in such a short period of time.

Yeah, yeah, bang on. Now one of the themes that I certainly got.

Well, I wouldn't say wrong, completely wrong, but just didn't grow as, as fast as what I would have hoped with DEFI just continuing to remain pretty underappreciated. So I expected DEFI to really see a big reversal this year and start to outperform the market. But it was a bit of a mixed bag for DEFI where the Dex volume to centralized exchange futures trading volume actually decreased from 2% to 1.67% and the DeFi dominance stayed about the same at 4.3%. So yeah, despite a few little wins, you know, such as the Uni swap spot trading actually topping coinbase on multiple occasions. It just failed to really translate to token price. So yeah, even like the DEFI token index, the DPI under underperformed the market, increasing by only 34%. So hopefully that can turn around next year. I'm pretty well exposed to DeFi, so hopefully next year we, we see that and that just might be lagging, especially when we see like Ethereum really lagging behind in terms of it's, it's sort of growth against btc. I'm hoping that'll, that'll push up the market in, into the new year.

Oh, mate, just recently, the last week or so they're calling the death of Ethereum, like because Bitcoin's gone up in like value significantly. Ethereum's kind of sort of remain the same. It's still executing on everything. It's still got heaps of TVL L2s, everything going on. Huge developer community hackathons with like few thousand people just happening last week. But no, mate, Ethereum is dead. You know why? Because Solana has airdrops, mate. And that's where everyone is. They want to get those airdrops, man. They want those subsent transactions, mate. That's what they want. The market has spoken and all of a sudden, goodbye Ethereum. Even people are leaving the Ethereum community. It is that ridiculous.

Yeah. And there's a bit of a joke going around like, you know, Ethereum's dead. Sell it all. Like, you know, I literally, I bought.

Ethereum yesterday because of it. I'm like, great. Nothing has fundamentally changed apart from a few degenerates have gone over there and they're getting a few more transactions. And yes, one other coin has pumped. That doesn't mean all the years and years of hard work and accumulation and effort and developers and communities and incentives go away. Nothing has changed. It's like a hundred people on Twitter that are shouting loudly.

Yeah, bang on. And there's a chart I was just reading on Twitter earlier around for the Ethereum bears. So in February 2021 Bitcoin first hit 44,000. Right. This is in February 2021 where it is today, same price. And at that point Ethereum was $1400. Now, you know, at the time of recording, 2020, 209 months later after that point, ETH was up 245% while Bitcoin was only up 45%. So that's sort of suggesting that potentially heading into the new year, as the, the narrative shifts away from, you know, Bitcoin Well, I mean, it's going to be all around Bitcoin is the halving. But beyond the halving event in April and we've got the Dan Khan upgrade of Ethereum, we could see that trend start to move back to Ethereum. And like history has shown us before, Ethereum can really outperform Bitcoin over a pretty short period of time when Bitcoin is led first. So this sort of BTC to ETH outperformance has shown us in previous times that it happens pretty, pretty consistently where the money tends to go to BTC and then the narrative changes. And I think the upgrades that Ether having in the new year, plus the bearishness that it's got at the moment because of Solana, I think is a good, good point. Burges, where you've sort of entered the market back in eth.

Yeah, 100%. And just think about this, where everyone's on one side of the rowboat, it's going to tip, right? And honestly, just, just looking at this space, the amount of effort that's gone and nothing has fundamentally changed, there's an opportunity there that you need to seize. And you see on Twitter, people are posting these things like, oh, if you bought Bitcoin at the bottom the exact day that it bottomed, you would have made this much. Whereas if you bought Ethereum on that day, you would have made this much. It's like, well, no, that's a weird comparison. Just picking an odd day.

Sure.

If you went like, when Ethereum bottomed and you bought that, it's like the opposite story. Or if you did a weak other side, how much you would have made. It's just a very silly comparison and people use this erroneous data where it's not true and it's only showing a point in time. You can literally pick any point that you want to justify, oh, Bitcoin's outperformed Ethereum or Ethereum's outperformed Bitcoin.

You've literally just explained technical analysis. Just pick any point on the chart to create a narrative that backs your decision.

Like, that's exactly right. And what they're saying is, hey, if you knew on that exact day that that was going to be the bottom of Bitcoin for this cycle and you bought it, you would have got this. No one's doing that shit. No one knew it was the bottom. No one knew to buy on that day. The only people that were buying were people that were dollar cost averaging over time.

I love, I love those people. If like looking at hindsight, looking at the exact points in time, it's like, yeah, right. Okay, well, how about you? Pretty good for the future, mate.

My, my favorite ones, I called the bottom on this and I called the top on this, therefore you should go here. Or they're digging up their old posts where they said something. I'm like, yeah, but you're 50 other posts said other things like, what are you doing?

Posted that to our, to our members this morning. It's like just a reminder that as more influencers and quote unquote experts enter back in the space, screenshots of calls and picks are 99% BS. A host of these sorts of people will share 10, 20, 50 different investments. One goes up and then shared hook people in. Or they just share a super high, super small cap project that pumps. They speak about their audience. Don't get sucked in. The FOMO they create. It's not helpful at this.

This is it. Like if someone's picked a coin, is absolutely pumped and honestly to be able to get into that, you need to have a bot monitoring smart contracts. And you interact with the smart contract delivery directly on the blockchain, right? You either go to, you know, mint or exchange or whatever you want to do, and you do it that way. Difficult to do. And also you don't know the outcome because someone's just deployed a smart contract. You don't know what it is. You might get a title, you might get a name. So they're only showing you one coin where they made 10,000%. They're not showing you the other thousand coins where they put $1,000 each into that they've lost money on. And the reason they're pumping it so they'll show you one. And I've made a million dollars. They probably lost 2 million. The reason they're posting about it is for two reasons. One, so more people buy it and they get more exit liquidity or to try and sell you something or join a group.

Yeah, 100% books. Because yes, you, you could have all those paper profits, but the market cap's like, you know, $3 million. There's no liquidity. The only thing, the only reason it's gone up is because there's three people buying and selling the market. Like there's no liquidity.

They, they literally are the liquidity and they're just like literally buying from themselves because there's such few transactions. Like if you buy one coin at a thousand dollars, that's the market price. It went from one cent to a thousand. It's been so great.

Yet today, who is not pumping. He's not pumping to other people. But like he literally was degenerating so hard. He got into a coin that was sub $3,000 market cap, pumped the price, then had no one to sell into because there's no liquidity. So he became the liquidity. He gave liquidity to the market maker. And then it all got completely rugged.

And he lost everything, mate. He's like. It's like that meme. Look at me, I'm the liquidity now.

I have a feeling. I have a feeling I know who you're talking about. And it's so funny.

So good, mate. So good. Oh, I'd love to see it. And it's amazing how things have changed. So this is now December and we're talking about degeneracy. People on Twitter, people making money, go back to January. No one cared about crypto. No one wanted to believe in the space. No one was investing. No one was putting money into it. There was no excitement. Crypto Twitter was dead. People were leaving the space. And think about where we are now. The majority of people get their information from mainstream media. They haven't even picked this up yet. I've seen nothing on tv. You might see one little bitcoin article here or there. I saw one in the AFR the other day that tells you where we are in this cycle.

Yeah, bang on, mate. And that was, you know, back to Solana. That was actually one of the things we got right. So we were putting a lot of research early in the year around Solana and why we thought it was, you know, still still had serious buying power. And we actually put out a post for members. There's a research we, we did called 5 Reasons why Solana Could Remain in the Top 10 Back in May. And since that post, yes, Solana's done like 3, 400%, something about 650%.

For the year. So thanks to the hype around the upcoming Fire Dance upgrade, which went live on, on Testnet recently, you know, the Solana ecosystem is really pushed forward. And those airdrops like we spoke about jito, which we covered as well, that members got minimum like $20,000, like just insane. So we're really stoked with that. Nailed Solana and well done to those that got on board.

And I think it's actually a lesson time here where you're seeing all this degeneracy happen in this space. And you're listening to Ben and Bergs, right? So stick to your strategy that you have Buy your btc, buy your eth, buy your. Buy some alts that you can actually manage. Don't get sucked into this degenerate stuff, right? Like, I've not been sucked into it. I'm not farming airdrops on Salata. I'm not loading up wallets. I'm not going into Pepe Inu, Shiba Coin, whatever it is. I'm buying one or two moonshots. I did one like airdrop farm on Ethereum and that is it. I don't want to manage too much. I'm not. And it is very hard. Every day I wake up and I check Twitter and all these people are making money, supposedly with all these posts. And in my head I know rationally it's bullshit. It's either a lie, they're trying to sell me something, or I'm just their exit liquidity. But you still feel that pang of fomo and you have to get over that. Think about next year. Think about the ets, BTC and eth, and those couple of alts that you have researched that you. That has a strong probability of giving you significant returns. Manage those, Stay the course and don't get distracted, because you and I better be distracted. For the previous two, three market cycles, ICOs, NFTs, DeFi, and we've lost a lot of money. And when you look back at how much you're buying ETH for and what it's worth now, and how much you're putting into those projects, you want to cry. And now we're like, no, we've learned our lessons. You need to stay the course with your strategy. And it is, it is the hardest thing to do.

Imagine if we went back and actually calculated how much 80 eth will pumping into ICOs back in 2017.

I have, and I stopped counting after three bucks. So yep.

Oh, because you think about it, right? Like let's say you put a thousand dollars into.

An ICO as 80 ETH, right? That's what, 12 ETH. So 12 ETH at 4K USD, which is 6K AUD, like at the peak of ETH. So what's that? $72,000 for $1,000. So if you went into like 13 or 14 ICOs at a thousand dollars each, that's a million dollars, mate.

It's actually sick. I haven't done the math, but I was just looking back, like I was pumping 30, 40, 50 grand in into different ICOs, like not individually, but like, you know, just like lots. Like even at 50,000, that's.

What, $50,000 at $80. Six. Nearly six. Six and a bit. Thousand. ETH at 6,000. Eight. At 2,200.

Big numbers, boy.

13. 13 million.

And these are the things people won't talk about. Like who comes out and says, I made a $13 million mistake? No one, no one does this. I'll only tell you about the wins and things that they've done. But if you're not making mistakes, you're not learning, you're not progressing. And this is true in all areas of life. In investing, you will lose a lot of money to get good and get those lessons. And in investing, you either leave with the money or you leave with a lesson.

I love that, mate. And it's also like social media. You only see one side of the story. And if someone was that good at investing, why on earth are they sharing their secret sauce to you? You know? Exactly. That's the reason why we built Collective Shift. Because we are investors ourselves and we're not just sharing results, we're actually sharing you what we're doing with our money. Like, like as a way to help you, if that makes sense.

And all these people that are, you know, airdrop farming or have some inside information or they know something or they've got this secret light trading tool, if they had a market edge, why would they share with you? Because that just lessens the airdrop that they get and everything else. With us, we're longer term investors in generally larger projects, plus small, you know, all cap moonshots. So the alignment is there because we get paid through subscriptions. And if we don't deliver for you, you leave and we don't get paid.

Right.

So just think about the incentive structures.

So imagine like a JP Morgan, like a big hedge fund, just like selling their secret sauce as a course, mate.

Unbelievable. Like, and jeez. But people get sucked into it because they're like, these guys are making viewings, they show me a screenshot, I have to get in. Imagine how my life will change.

What, what was the marketing? One of those guys, I was Crypto Con, like truth seekers. They are like visionaries.

So Ben and I, this is a bit of inside information. Ben and I, we went to set up the, the week, the day before at Oz Crypto Con. And we saw these guys. Oh yeah, it looks pretty cool like what they're doing and you know, picked up their little pamphlet and it was under the guy's name, it was global thought leader.

Global luminary truth seeker. I was like, oof, just show me what you've done, mate. Show Me your history. Where's the proof of work? It was, it was very challenging, right?

If you've ever seen red flags in marketing, it's like anyone that says truth seeker.

Okay, so I was talking about this with some buddies of mine. So I caught up with my old work colleagues yesterday and we were talking about another work colleague who was quite like this, where instead of pointing to it and go, I raised X million dollars. I made this product, I led a team of 100 people and we outperformed the market and made x percent return on assets, whatever it may be. It's like, no, I did this course, or I went and I went to Dubai and I met a minister and we talked about government or like that. And it's like when you have those quasi measures that aren't hard measures and proven work of what you've done, you need to ask yourself why.

Yeah, I'm. I'm an out of the box thinker. I.

You know, what does that mean? Interplanetary luminary. What the hell does that. Global thought leader, Ben. No, you are none of those things. Show me what you have done. Where is your proof of work?

Oh, my God.

Oh, okay.

He's so painful.

I think let's, let's get back on track.

The last one I just want to mention was what we got, right, was tokenization growing. So really, you know, we think it's still going to be a big trend in the new year about real world assets. So some of the cryptocurrencies, and one of my favorites that I own, Maple, is building on this where they've really outperformed the market this year. So the most notable source of growth in RWAs or real world assets was through various projects offering on chain exposure to treasury yields, which is really cool. So Coinbase also launched Project diamond to onboard real world asset targeted at institutions on the new blockchain base and definitely foresee this as a big one into the new year.

Absolutely. Mate and mate. Should we go into wins and losses? You have yours on an upcoming podcast as biggest wins and losses for the year.

Yep.

I might do mine, mate, you do yours. All right, so I think my biggest win for the year, if I look back in the crypto space. Well, the obvious one is building collective shift and putting in all the hard work. Right. Like building with the team, us doing a lot of social media, going to the conference, doing things when no one wanted to, and now us seeing awesome results. I think that was the big win in terms of investing in the crypto space. Biggest win was probably the arbitrary airdrop. So that was somewhat unexpected. And it was from all the stuff I did in Bridge World and magic. So I got a decent airdrop and then I got another significant airdrop because of a guild I'm in with a couple of guys and they're playing a game with NFTs in bridge world had heaps of transactions. Some guys got up to like 11 8th worth of airdrop. So it was, it was significant. That was definitely a big win there.

Amazing. Yeah, some good wins. And it's one of those things that we try and focus on the airdrop side. Like, you know, I was speaking to one of our Platinum members yesterday. He's like, look, man, I'm so busy. This guy's got. I know what he, what he's got. I think he's like, you know, 25 BTC, like 300e. Like this guy's like, he's doing pretty well. And he's like, man, I don't have time. Like, just what do I need to do in the airdrop space? You know, where can I make money? It's like, well, it's not as easy as that. Basically the way you got to do it is you've got to go play around with these things. And we've done the research for you to help you see where the most probable airdrops will be. So you don't have to do all the research yourself because there's thousands and thousands of thousands of different projects. We've sort of done the hard work for you. But like Berg said, he was literally playing a game on Arbitrum before or, you know.

Yeah.

Was it? I assume it was. Yeah, I was on. Yeah, yeah. Which, which, which wasn't his eye, you know, he wasn't playing the game to get this upcoming airdrop. Probably didn't even know it was happening. Like that's how airdrops kind of work. Yeah, they're a reward for early adopters.

That's exactly right. People who use a protocol and use it in different ways and airdrop farming, a lot of the time you'll get fed found out there is a risk to reward because you're signing unproven contracts, you're very early on. So you need to be aware of that. Plus the time sync that goes in, you may get nothing. You may be excluded from the airdrop because it was enough money. You didn't bridge in time, you didn't interact with the right stuff or they flagged you as an airdrop farmer. So be aware of those as well. And yeah, for us it was, it was a genuine reward for playing the game and interacting with it and being present on that platform.

Nice. And what about your biggest loss?

Oh, biggest loss, mate. It hurts. It hurts buying a VFriend. NFT, mate. I went in, I was thinking about it for ages and I'm like, oh, I like everything that's happening. I've got to buy one. And honestly, I bought it for about five, eight and it's now probably worth one and a half eighth. So there's a significant loss there. Still holding it. And I still like everything that Gary's doing in this space. Like, he's had a lot of.

He's doing just so much with stuff with like, music, Snoop Dogg, Reebok Crocs, Uno cards, all this kind of stuff. Like, he's doing a lot of activity and I'm really interested to see where that goes. But that is definitely. So that's not a cope. It is what it is, it is a loss at this point in time. It's not something I'll be selling. Like, I still want to get the VCON tickets. I might actually go to VCON next year. And I like what he was doing in the space. And for me, I, I waited until the price actually went down significantly and of course it went down more. But the thought of not having one and being a part of that ecosystem was too high and I ignored it for about eight months. I'm like, no, I need to own a part of this. If it goes to zero, that's okay because not owning it will be worse for me. But that is definitely my biggest loss of 2023.

And you know, the value that Gary creates is probably one of the few horses in the, in the race you want to back. You know, it's going to put out and put. Put good sort of value behind it. So, yeah, paper loss, but I'm sure, you know, over time it's going to be, it's going to be profitable in different ways.

It's interesting where it's a market loss, but what he's actually doing and building in the company. I could not name another project that's done more activity in the NFT space. You look at moonbirds, right? It's like, Jesus, that was like a flagship one. And that's probably like your biggest loss, mate, for 2023. I saw your post this morning, mate. You're like, I'm 50, 50, mate. I'm almost out.

I'm basically out. But the only reason I'm keeping is because I You know, I like to back the underdog and, and, and the war stories, but man, it's just, it's just abysmal what they're doing because they're not doing anything, so.

Absolutely. And so we've done our look back on 2023 and I think 2024 is going to be amazing just in terms of the Bitcoin, Ethereum, Bitcoin and Ethereum ETFs and the halving that's happening, let alone all the other innovation, the other change, the people returning to the space, even all of my friends are like hitting me up, bro, what do I buy? How do I do it? How do I get a hardware wallet? People that were thinking about it two years ago that didn't actually action it, they're like, I want to have a coffee with you, can we meet up? It's not like, just tell me. It's like, no, I need this today. Like these are the people hearing and feeling the FOMO because they're kind of around the edges. It's not from mainstream media, it's because they're my friend and they see the stuff that I post. Right. So you can just see how this ripples out and what's actually going to happen next year.

Yeah, I agree. And I don't think it's really going to be until bitcoin heads towards all time highs that crypto really rips. And when it does, I fully expect retail investors to come back in and, and get me. Absolutely. Game on. So big 2024.

Yeah. And let's, let's just talk about Christmas for a while because for a few years there we've been the guys that have been talking about, you know, crypto at Christmas and people might have bought it and then they lost heaps of money next year and then you have to face your relatives next Christmas. I think the positioning for these holidays and if you talk about crypto and getting people in will probably be the best position they've ever had. And we've actually got a Christmas special running at the moment, mate.

We do. So if you have any friends or family or even you guys just want to take it up and just see if.

See, see if cryptos for you or see if we can help you in any way. We're offering these 15 minute strategy calls and if you end up becoming a member, we're going to be offering a 15% discount on our membership. So if you've been looking, you've been thinking about it, you really want to take the next level in your portfolio. Get set up, get your strategy in order and absolutely crush 2024 with highly, highly recommend you book one of our strategy calls. There's a link in our description, or you can just head to our website, Collective Shift and there's a button in the top right hand corner. Book a time with one of our experts and let us see how we can take your portfolio to the next level.

Absolutely. And it's not a high pressure sales call. It's like, hey, going, how long you been in crypto? Where you at? This is what we offer. We can help you and if we can't, that's cool, man. Enjoy your life.

Yeah, you get our, you get our strategy document. Regardless, so keen to help you out. We hope you've had a great Christmas, hope you have a great new year and we'll be back better than ever in the new year. We're not taking any breaks, really. We'll be. We could keep pushing through. We're going to do our personal reflections at some point in January like we did last year, which is always a good time. Berge reflecting on all the personal wins and losses that we've had.

Yeah, looking forward to that. Mate.

Mate, it'll be good. Thanks, everyone for tuning in. We will be back very soon and yeah, we'd love for you to share it with a friend or family member this episode if you think they'd get value from it, but otherwise we'll see you on the next episode.

Thanks, champions.