Do Kwon và cú sập 45 tỷ USD của Terra-Luna: Giải mã cái chết của stablecoin thuật toán
Chỉ trong vòng 72 giờ của tháng 5 năm 2022, toàn bộ hệ sinh thái tiền điện tử Terra-Luna bốc hơi 45 tỷ USD, kéo theo làn sóng phá sản dây chuyền của Three Arrows Capital, Celsius và châm ngòi cho sự sụp đổ của FTX. Bóc trần vòng xoáy tử thần của mô hình Ponzi 20% lãi suất.
1. Cuộc thảm sát tài chính 72 giờ
Vào đầu tháng 5 năm 2022, hệ sinh thái blockchain Terra là một trong những thế lực quyền lực nhất thế giới tiền mã hóa. Đồng tiền quản trị LUNA lọt vào Top 5 đồng coin lớn nhất thị trường với mức giá đỉnh điểm vượt 119 USD, đưa giá trị vốn hóa của toàn hệ sinh thái lên hơn 45 tỷ USD.
Đứng đầu dự án là Do Kwon (Kwon Do-hyung), một lập trình viên 30 tuổi tốt nghiệp Đại học Stanford danh giá. Do Kwon tự xây dựng cho mình hình tượng một vị vua công nghệ ngạo mạn trên mạng xã hội Twitter: công khai chế giễu các nhà kinh tế học cảnh báo về rủi ro dự án là “ngu ngốc”, tuyên bố trên truyền hình “95% các dự án tiền số sẽ chết, nhưng việc xem chúng chết cũng là một trò giải trí”, và thậm chí xúc phạm một nhà phê bình là “tôi không có thời gian tranh luận với kẻ nghèo đói”.
Thế nhưng, chỉ trong vòng chưa đầy một tuần từ ngày 7 đến ngày 12 tháng 5 năm 2022, một thảm kịch tài chính kinh hoàng đã diễn ra:
- Đồng tiền ổn định TerraUSD (UST) – vốn được quảng bá là luôn giữ giá trị bằng đúng 1.00 USD – bị mất mốc neo (de-peg), rơi tự do xuống còn vài xu.
- Đồng coin LUNA rơi thẳng đứng từ 80 USD về 0.00001 USD (chia hơn 10 triệu lần giá trị).
- Hơn 45 tỷ USD tài sản bốc hơi hoàn toàn vào hư không. Hàng trăm nghìn nhà đầu tư cá nhân trên toàn cầu mất trắng toàn bộ tiền tiết kiệm dưỡng già, nhà cửa và tài sản tích lũy cả đời chỉ sau một đêm.
Cú sập này không dừng lại ở Terra mà đã kích hoạt một phản ứng dây chuyền hạt nhân tàn phá toàn bộ ngành công nghiệp tiền số: đánh sập quỹ đầu cơ Three Arrows Capital (3AC), kéo sụp các ngân hàng cho vay tiền mã hóa Celsius Network, Voyager Digital và tạo tiền đề trực tiếp cho sự sụp đổ của sàn giao dịch FTX vài tháng sau đó.
2. Bóc trần cỗ máy: Ảo ảnh stablecoin thuật toán và mồi nhử 20% lãi suất
Để hiểu tại sao Terra có thể thu hút được hàng chục tỷ USD trước khi nổ tung, cần phải mổ xẻ cơ chế vận hành của hai thành phần cốt lõi: UST và Anchor Protocol.
Khác với các đồng stablecoin truyền thống như USDC hay Tether (được bảo chứng bằng tiền mặt USD hoặc trái phiếu chính phủ Mỹ lưu ký trong ngân hàng), UST là một stablecoin thuật toán (Algorithmic Stablecoin) – nghĩa là nó hoàn toàn không có bất kỳ một đồng USD tiền mặt nào làm tài sản thế chấp thực tế.
Nó được giữ giá bằng một cơ chế kinh doanh chênh lệch giá (Arbitrage) đúc và đốt (Mint & Burn) với đồng coin biến động LUNA:
CƠ CHẾ ĐÚC - ĐỐT GIỮ MỐC CỦA TERRA
┌──────────────────────┐
│ 1 UST = 1.00 $ │
└──────────┬───────────┘
│
┌───────────────────────┴───────────────────────┐
▼ ▼
Khi UST < 1.00$ (Ví dụ: 0.98$) Khi UST > 1.00$ (Ví dụ: 1.02$)
Người dùng mua 1 UST trên sàn với giá 0.98$ Người dùng mua 1$ giá trị LUNA
Đem vào hệ thống để ĐỐT 1 UST Đem vào hệ thống để ĐỐT LUNA
ĐỔI LẤY 1.00$ GIÁ TRỊ LUNA MỚI ĐỔI LẤY 1 UST MỚI
Lãi chênh lệch: 0.02$ Bán 1 UST trên sàn lấy 1.02$
Giảm cung UST ──▶ Đẩy giá UST về 1$ Tăng cung UST ──▶ Kéo giá UST về 1$Về mặt lý thuyết trên giấy tờ, cơ chế này trông có vẻ thông minh. Nhưng trên thực tế, tại sao mọi người lại muốn nắm giữ hàng tỷ USD đồng UST thay vì giữ USD thật trong ngân hàng.
Câu trả lời nằm ở Anchor Protocol – một giao thức cho vay phi tập trung do chính Terraform Labs tạo ra. Anchor đưa ra một mức cam kết lợi suất cố định gây sốc: Gửi UST vào Anchor sẽ nhận lãi suất 20% mỗi năm (20% APY).
Trong bối cảnh lãi suất tiền gửi ngân hàng toàn cầu khi đó gần như bằng 0, mức lãi suất 20% cố định trông giống như một chiếc chén thánh tài chính.
Hậu quả là hơn 72% tổng số lượng UST đang lưu hành trên toàn cầu bị gom lại và ném vào Anchor chỉ để ăn lãi suất 20%. Bản thân Anchor không tạo ra đủ doanh thu từ người đi vay để trả lãi, mà phải liên tục đốt quỹ dự phòng hàng chục triệu USD mỗi tuần để bù lỗ. Đó là một mô hình Ponzi cổ điển: lấy tiền của người gửi sau trả lãi cho người gửi trước.
3. Vòng xoáy tử thần (Death Spiral) và siêu lạm phát 6.500 tỷ token
Mô hình stablecoin thuật toán chứa đựng một khiếm khuyết chết người mang tên Phản xạ nghịch (Soros Reflexivity): Nó chỉ hoạt động khi niềm tin của thị trường vào LUNA còn nguyên vẹn. Một khi niềm tin sụp đổ, cơ chế đúc-đốt sẽ tự động biến thành một máy tự hủy.
Vào đêm ngày 7 tháng 5 năm 2022, một số cá voi tài chính đã bắt đầu rút hàng trăm triệu USD UST ra khỏi các bể thanh khoản Curve và bán tháo trên sàn Binance.
Mốc neo 1.00 USD của UST bắt đầu rung lắc, giảm xuống 0.98 USD rồi 0.95 USD. Tâm lý hoảng loạn bùng phát:
VÒNG XOÁY TỬ THẦN TERRA-LUNA
┌────────────────────────────────────────────────────────────────────────┐
│ 1. Nhà đầu tư tháo chạy khỏi Anchor Protocol, bán tháo UST │
└───────────────────────────────────┬────────────────────────────────────┘
│
▼
┌────────────────────────────────────────────────────────────────────────┐
│ 2. UST mất mốc sâu (rơi xuống 0.70$ rồi 0.30$) │
└───────────────────────────────────┬────────────────────────────────────┘
│
▼
┌────────────────────────────────────────────────────────────────────────┐
│ 3. Cơ chế thuật toán kích hoạt tự động: │
│ Hàng tỷ UST hoảng loạn được đưa vào hệ thống để ĐỐT lấy LUNA │
└───────────────────────────────────┬────────────────────────────────────┘
│
▼
┌────────────────────────────────────────────────────────────────────────┐
│ 4. SIÊU LẠM PHÁT LUNA: │
│ Số lượng token LUNA mới được đúc ra tràn ngập thị trường │
│ - Nguồn cung LUNA ban đầu: ~350 triệu token │
│ - Nguồn cung LUNA sau 5 ngày: > 6.500.000.000.000 (6.5 nghìn tỷ) │
└───────────────────────────────────┬────────────────────────────────────┘
│
▼
┌────────────────────────────────────────────────────────────────────────┐
│ 5. GIÁ LUNA CHIA VỀ GẦN BẰNG 0: │
│ Toàn bộ tài sản thế chấp bay màu ──▶ Không còn giá trị bảo đảm ──▶ │
│ UST vĩnh viễn không bao giờ có thể quay lại mốc 1.00 USD │
└────────────────────────────────────────────────────────────────────────┘Trong những nỗ lực tuyệt vọng, Do Kwon tuyên bố quỹ Luna Foundation Guard (LFG) sẽ triển khai kho dự trữ hơn 80.000 Bitcoin để bảo vệ mốc peg. Nhưng dòng tiền rút vốn quá khủng khiếp đã nuốt trọn số Bitcoin đó chỉ trong vài giờ mà không thể ngăn nổi đà lao dốc.
Nguồn cung LUNA tăng theo cấp số nhân từ vài trăm triệu lên hơn 6.5 nghìn tỷ coin khiến giá trị của nó rơi xuống con số thập phân có hàng chục số 0. Hệ thống Terra hoàn toàn tắt thở.
Sau thảm họa, Do Kwon bỏ trốn khỏi Singapore, bị Interpol phát lệnh truy nã đỏ quốc tế. Tháng 3 năm 2023, Do Kwon bị cảnh sát Montenegro bắt giữ tại sân bay Podgorica khi đang sử dụng hộ chiếu giả Costa Rica để chuẩn bị lên chuyên cơ riêng trốn sang Dubai. Ông này đối mặt với các bản án hình sự về lừa đảo chứng khoán tại cả Mỹ và Hàn Quốc với mức án lên tới hàng chục năm tù.
4. Bốn bài học sống còn từ thảm kịch tiền ảo thuật toán
Vụ sụp đổ 45 tỷ USD của Terra-Luna để lại những bài học đắt giá được trả bằng mồ hôi nước mắt của hàng triệu người:
- Không có bữa trưa nào miễn phí mang lại 20% lợi nhuận cố định: Trong thị trường tài chính, lợi nhuận luôn đi kèm với rủi ro. Bất kỳ sản phẩm tài chính nào cam kết lãi suất phi thực tế (20%/năm) mà không giải trình được nguồn tạo ra dòng tiền thặng dư thực tế đều là mô hình lừa đảo tái phân phối tiền.
- Không thể bảo chứng một tài sản nợ bằng một tài sản ảo tự sinh ra từ hư vô: Một đồng tiền ổn định không thể được neo giữ giá trị bằng niềm tin thuần túy vào một token biến động khác do chính người tạo ra đồng tiền đó phát hành. Khi khủng hoảng niềm tin xảy ra, cả hai sẽ cùng kéo nhau xuống mồ.
- Thái độ ngạo mạn của nhà sáng lập là dấu hiệu cảnh báo đỏ (Red Flag) lớn nhất: Khi một người đứng đầu dự án tài chính liên tục tấn công cá nhân, từ chối phản biện chuyên môn và xúc phạm những người đặt câu hỏi về tính bền vững của mô hình, đó là dấu hiệu của một kẻ ái kỷ đang che đậy một cỗ máy sụp đổ bên trong.
- Hiệu ứng đòn bẩy chéo trong thị trường phi tập trung: Sự liên thông tài chính không minh bạch trong không gian tiền điện tử khiến một vết nứt ở một dự án như Terra có thể lan truyền chấn động, kích hoạt làn sóng đòi nợ (Margin Call) và thanh lý tài sản trên khắp các quỹ đầu cơ và sàn giao dịch lớn nhất thế giới.
📜 Xem toàn bộ transcript gốc tiếng Anh (3,367 từ)
Văn bản phụ đề nguyên bản tiếng Anh trích xuất trực tiếp từ video của ColdFusion phục vụ tra cứu và đối chiếu:
hi welcome to another episode of cold fusion this is financial freedom you have been dreaming of it ever since you started your working career almost 10 years ago now one day your friend introduces you to an interesting website from a company called terraform labs it's low risk investment where you can earn 20 a year on your deposits if you just put in 500 from every paycheck you'll make some decent returns but you're skeptical and you dismiss it but later when you think about the money that's left sitting in your savings account getting eaten away by inflation you think to yourself maybe this is worth a shot the website states that it's using a technology called stablecoins you don't really know what that is but your friend says it's pretty much risk-free but little did you know that in just two years you would lose half your savings this is a story that's painfully familiar to millions of others around the world in total 45 billion dollars worth of everyday people's money was lost in less than a week around the internet people are calling this the 2008 crisis of crypto and now you're right in the middle of it how could this have happened to you this is a horror story that many are living right now fusion tv this is dokwan he's the one in charge of the company that caused your financial demise born in south korea in 1991 do kwan was a bright kid and went on to study computer science at stanford graduating in 2015. he briefly worked for apple and microsoft reportedly only for a few months each he would return back to south korea in 2015. it would seem that working for big tech wasn't enough for kwan he wanted to be big tech itself but in the crypto space not long after this he would hear of a stablecoin project called basis he looked into the idea of stablecoins and saw them as the next big thing in finance the idea is that these tokens would maintain a one us dollar value this is called a peg essentially the tokens would act like a digital dollar stable coins are for people that still want to enjoy the benefit of crypto but without all the wild swings in price an interest rate system also makes sure that depositors get rewarded for keeping their money in the system to get his idea off the ground it wasn't going to be easy for quan he needed a lot of funding to get started stablecoin tokens are usually backed by securities like treasuries and cash reserves or with some combination of other crypto people really want to have confidence in knowing that a stablecoin is worth what it says it is instead of a traditional backing with something like cash terror used an experimental algorithm to help back the system but more on that shortly after a failed startup in january of 2018 dayquan and co-founder daniel sim came up with the idea for terraform labs eventually terra managed to get off the ground with the support of 15 e-commerce companies in asia here is dou kwon talking about his ties with the e-commerce platform chai in 2019 but in the back end is where the real magic starts to happen and i contend that terra solves two of the biggest roadblocks to the adoption of digital payments in asia and the rest of the world up up to today we've had 430 000 uh shoppers over the chai payment gateway most of them coming in the last month and we've processed nearly 2 million transactions up to date in terms of daily active users terra and chai has already surpassed some of the most popular tokens in 2019 kwon was named in asia's forbes 30 under 30. but all was not as it seemed on the surface according to some staff that i talked to with interro labs do kwan was narcissistic but charismatic he would micromanage and sometimes verbally abuse teralab staff within one to two years virtually all the core people left most with legal disputes as this happened terra labs increasingly became a one-man show with dokwan making all the decisions kwon's decisions would eventually lead to the collapse and a loss of billions and time again low-risk so-called algorithmic stable coins have been tried with catastrophic results take mark cuban for example he lost money on the now dead titan iron stablecoin so dokwan had a lot of work to do to get people trusting and using terror critics of stablecoins have called them quote modern day pyramid schemes with people like senator elizabeth warren calling for regulation this next section may seem a little bit in the weeds but bear with me because it's integral to understanding what later went wrong the main focus of the teralabs blockchain was their token terra usd or ust which would stay stable at one us dollar's worth of value the terra system used two tokens to function ust was to remain stable while the other token called luna was meant to absorb volatility one can buy ust on market exchanges or through exchanging luna within the system at all costs the system tries to keep everything in equilibrium there were also financial incentives for people to trade and swap lunar and ust in whichever direction helps the system stay in equilibrium an algorithm is in charge of managing all of this and making sure that it all works there's a major problem though the system is designed to do this no matter what happens to ust's market price on other exchanges if the peg begins to slip risk begins to pile up people may jump out of the ust token into other stable coins which causes the lunar token to fall the algorithm then prints more luna in order to keep the peg so the price drops even more this is okay for small dips but if the selling pressure is too much then there can be a feedback loop of people selling and the system printing evermore luna to try and keep the balance this is called a death spiral but this wasn't all there was yet another issue with the system it had grown too fast investors who deposited ust into the terror system were receiving roughly 20 yield this high return was what attracted many people to the service in the first place and terror grew rapidly because of it but perhaps too rapidly instead of the market deciding interest rates do kwan wanted this rate fixed to achieve this it was partly subsidised by the company however as demand grew more and more money needed to be paid out around seven million dollars was paid out in interest every day dokwan also made a fatal mistake of letting people take out their deposits at any time perhaps what he didn't foresee is that the rapid growth meant that the system was extra vulnerable to mass withdrawals all at once unknowingly he had just caused both major elements that would contribute to the disaster the rapid and massive growth thanks to the attractive fixed 20 return and the risk of mass withdrawals many skeptics criticized terror stating that it was unsustainable but devout supporters or lunatics as they called themselves would dismiss the criticism do kwan was now the leader of a devout group he had made people a lot of money and it seemed like his reinvention of finance was on its way to changing the world it was a safe crypto bank with a higher interest rate and large adoption in 2021 as the wider crypto market began to turn south the yields and other stable coins and tokens began to fall but dokwan's fixed 20 yield on ust became increasingly attractive and more people piled in by april of 2022 the lunacoin was trading at over 100 us dollars a token and the whole system was valued at 45 billion dollars the terra luna system was being used in hundreds of decentralized apps and millions of payments around the world with terror it finally looked like decentralized finance had finally gone mainstream it should be noted that although the terror system was marketed as decentralized and coin holders did have voting rights in reality it was the opposite according to insiders dokwan was a dictator and made all the final decisions and influenced the direction of the company effectively it couldn't be more centralized to fortify confidence in the system terror labs built up resistance to unexpected shocks they dedicated a reserve of 450 million dollars and one billion dollars worth of bitcoin to defending the peg at this point terra had the fourth largest market cap in the whole of crypto they looked unstoppable as the use of terror expanded and institutional investment arrived quan got more cocky i wonder how many of these companies you think are entering the space just because it's hot and there's a lot of funding versus the ones that will still be here you know like two to five years later 95 were gonna die yeah ninety-five percent are back tonight uh but uh yeah there's also entertainment from watching companies tattoo there's entertainment oh man that's that's that's so evil at least you get to learn from it right on twitter he was also showing his confidence the twitter user our god bet one million dollars that in one year from now tara luna would essentially collapse the stakes got raised to 10 million dollars and put on the blockchain for everyone to see but behind the scenes things were already going awry according to documents filed by kwon at the supreme court of south korea's registry office kwon filed to dissolve the korean company's entity on the 30th of april 2022 and was granted approval on the 4th of may 2022 just days before the crash for those that had put their hard earned money into the system this should have been a concern but they either weren't paying attention or the pull of financial freedom and peace of mind was too strong this event should have been the final red flag [Music] beginning on the 9th of may 2022 people began to notice something strange the one dollar peg promised by luna on their ust token began to come undone headlines were made when ust began to break from its secure peg of one us dollar the disaster began to kick off with a series of major withdrawals from the interest yielding ust system according to coindesk the amount was around 4 billion a single wallet also dumped 84 million worth of ust on the ethereum blockchain and 108 million dollars on the binance crypto exchange these led calls from within the community that the dpec was a coordinated attack but people couldn't worry about that now as things went from bad to worse ust starts trading at 90 cents then 85 cents the peg was really failing over the coming hours panic sets in and some users pull their money out conspiracy theories begin to take root online what exactly is happening here then even more users try to pull out their funds this time all at once the network becomes congested the luna foundation guard an organization that's supposed to support the terror ecosystem announces a 1.5 billion emergency loan to restore the peg to the us dollar but it doesn't work ust falls to 50 cents then 20 cents a far cry from its stable one dollar promise luna is also crashing it's seventy dollars then twenty dollars then ten dollars the hyper inflation of luna was happening right before everyone's eyes luna collapsed further to five cents now virtually zero unbelievable ust now sits at a measly 10 cents the collapse wiped out almost 45 billion dollars of market capitalization luna went down from an all-time high of 119 to virtually zero the us government gets involved immediately after the crash treasury secretary yellen points to the ust disaster and demands legislation by the end of the year on the 13th of may terraform labs halts the terror blockchain the company's attempts to stabilize the system also fail quan takes to twitter saying he's heartbroken by the events nobody has ever seen anything like this before a top five crypto project going to zero so quickly it was a true lehman brothers moment for the crypto community so who did it according to some insiders i've talked to those within teralabs believed that this was a coordinated large-scale attack which is viewable on the blockchain from on-chain data one or two actors bought a massive amount of ust with bitcoin and then dumped that ust on the market these actors did so even at a loss just to bring the system down lucas our tomorrow head of research at into the block told fortune quote the large withdrawals appeared to be timed precisely at the moment when luna was most vulnerable end quote he checked the data himself and said that it all lines up and quote it is certainly suspicious i think we are beyond the point that this idea of an attack is just speculation unfortunately for those involved the pieces were in place and the dominoes were set up to fall once the price began to drop people panic sold and the algorithm tried to print more luna reducing the price even further in a runaway death spiral many suspect that the perpetrator was a large hedge fund but solid evidence is yet to be found this may change as the investigation continues there may be some factors that we don't know about that may come to light did the market collude to make this crash happen this appears to be a hedge fund we don't know all people are naming the hedge fund but i won't the trade was instigated by one person and then we don't know if the momentum was created by collusion conspiracy theories would say yes because it's a massive trade there was a bit over a billion dollars in capital and then the market is saying that then they ended up going short ust so that they took a massive risk to achieve what they did i mean people are saying they made 950 million dollars when all was said and done one million dollars invested in terror just a week before the crash is now worth a measly three dollars lives were ruined and dreams crushed all over the internet there were devastating stories of luna holders youtuber ksi lost 2.8 million dollars another youtuber karl roonfeld lost 1.4 million but everyday people were also harmed in this reddit became populated with tragic stories one user writes i lost over 450 000 us dollars i cannot pay the bank i will lose my home soon i'll become homeless suicide is the only way out for me it is truly sad to consider those who have been affected due to the magnitude of the disaster dou kwan has been likened by journalists to elizabeth holmes of theranos especially in his native country of south korea but in a twist things may be a bit more nuanced it is true that the success got to dokwan's head he thought he was better than everyone else and took decisions solo but according to insiders his decisions were risky and ultimately hurt people but he didn't want to defraud anyone he loved control and power but he had a reputation to keep and cheating people would destroy that ryan silkas founder and ceo of mesurai states quote what happened to terror wasn't fraud it was overconfidence in the investors of last resort who had already backed the project and reckless growth at a time when the market was slowing down end quote so people may have that sentiment but ultimately i think the blame cannot land on anyone else but do kwan kevin zhao of galeos capital on twitter predicted the exact crash but dokkon dismissed him a perfect example of his careless attitude others also predicted the crash here's an eerily accurate prediction made in december of 2019 at a blockchain conference i think that um the biggest risk the thing that could go really massively arrive with stable coins that could be terrible for the crypto world overall is if there's an algorithmic staple coin that has no backing that just has a sort of algorithmic mechanism um but but there there's a category called algorithmic stable coins i would put terra and cello in this category there are a number of others basis was like this and they never launched um the thing that could happen is one of those could launch and be marketed very effectively and be significantly adopted it could even happen in a market where people really really need a stable currency and don't have one and that's why it gets massively adopted people who are not crypto speculators people who just want to preserve their savings if that protocol then blows up economically and falls apart and the price of that goes you know down half or close to zero military backlash imagine if we were sitting here today talking about how great our stable coins were where it had already been the case that like a billion dollar stable coin had collapsed and lots of innocent people had lost their money you know it would be a very different situation um and and that really could happen there are economic experiments being run with some stable coins that i believe personally could go that direction and so i think the worst thing that could happen is if one of those gets really big before it fails yeah why people will use that tara will tell you that like hundreds of thousands of people in korea are using it it's also possible that the whole crash could have been avoided if those 20 yielding deposits in ust had a withdrawal waiting time maybe seven days or a month so that panics like this wouldn't be possible as for the future of stable coins trust is broken even other projects that are more responsible than do kuan's was are going to take the heat and it's going to take a lot of faith for people to trust them again the saddest thing in all of this is that stable coins were seen as safe people were using them as a bank account to store their savings and earn interest when a regular bank wouldn't provide that much these people were actively trying to avoid the crazy speculation of the crypto market instead they found themselves in the biggest crypto disaster of all to anyone watching who was affected i hope you do find some solace somehow for everyone else watching from the sidelines may this be a lesson in every investment no matter how safe it seems if there's a counterparty risk you should follow the number one rule of investing only put in what you're prepared to lose so what happens to dokwan well investors are very angry and they're going to be wanting some answers perhaps there'll be a class-action lawsuit but for now we just don't know just as i was finishing up this episode dokuan announced terra 2.0 but the reaction was overwhelmingly negative so i'd like to hear from you guys did any of you lose any money would you ever trust stable coins again let me know your thoughts in the comment section below so if you did like this episode instead of subscribing search or scroll through the cold fusion channel and take a look and see if there's another topic that you'll be interested in there's plenty of stuff on here alright so thanks my name is dagogo and you've been watching cold fusion and i'll catch you again soon for the next episode cheers guys have a good [Music] cold fusion it's new thinking