How to Deploy ChatGPT MEV and make 1.5e on Fees

SolidityTutorials
11 Mar 202408:08

TLDRThe video script introduces a cryptocurrency bot utilizing arbitrage, memes, and front running strategies on decentralized platforms like Uniswap. It emphasizes the importance of security and avoiding scams in the crypto landscape. The bot operates on sandwich transactions, analyzing the mempool for profitable opportunities. The script guides viewers through setting up the bot using Metamask and Remix, and highlights the bot's ability to generate passive income without coding knowledge. It concludes with troubleshooting tips for common issues.

Takeaways

  • 🚀 The script introduces a bot using Chad, gbt technology aimed at simplifying cryptocurrency endeavors and generating passive income.
  • 🔒 Crypto landscape is warned to be filled with scammers, thus emphasizing the need for precaution and security of funds when interacting with unfamiliar wallets or exchanges.
  • 🤖 The bot operates on the principle of Sandwich transaction, leveraging arbitrage, memes, and front running, particularly utilizing decentralized platforms like Uniswap.
  • 📊 It analyzes the mempool to execute transactions by specifying a higher gas price than initiated ones, leading to a profitable price slip.
  • 👌 No coding experience is required to use the bot, making it accessible to a wider audience.
  • 🔗 Users are guided to install Metamask extension and use Remixit site for creating smart contracts in Solidity language.
  • 💰 For optimal performance, the bot requires a minimum deposit of 0.5 Ethereum.
  • 🔄 The bot can be deployed by compiling, deploying, and interacting with it via the Remix environment and Metamask.
  • 📈 The bot's performance is assessed after 12 and 24 hours, with the user earning significant profits in Ethereum.
  • 💸 Profits can be withdrawn back to the wallet, and the bot can be reconfigured as needed.
  • 🛠 Troubleshooting advice is provided for common issues such as transaction fee calculation errors and reconnection to the contract.

Q & A

  • What is the primary aim of the bot mentioned in the transcript?

    -The primary aim of the bot is to simplify crypto endeavors and generate passive income.

  • What precautions are advised before using the bot?

    -Users are advised to safeguard themselves and their funds by avoiding interactions with unfamiliar wallets or exchanges, and to be aware of the prevalence of scammers in the crypto landscape.

  • What are the key concepts the bot utilizes in its operations?

    -The bot leverages concepts of Arbitrage, Poes, and Front running, particularly utilizing popular decentralized platforms like Uniswap.

  • How does the bot execute transactions for profit?

    -The bot operates on the principle of Sandwich transactions, analyzing the mempool to execute transactions by specifying a higher gas price than the initiated one, resulting in a profitable price slip.

  • What is the minimum deposit required for the bot to function optimally?

    -The bot requires a minimum deposit of 0.5 Ethereum for optimal functioning.

  • How can users verify the successful deployment of the bot?

    -Users can verify successful deployment by checking the terminal for a deployed message, and then copying the transaction hash to confirm on Etherscan that the bot's transaction status displays as successful.

  • What is the purpose of the 'Start Native' button in the bot's interface?

    -The 'Start Native' button is used to initiate the bot's trading activities after setting the trade balance and other necessary parameters.

  • How much profit was generated after 24 hours of the bot's operation?

    -After 24 hours, the bot generated nearly 1.2 Ethereum, which is approximately $2500 at the current exchange rate.

  • What should users do if they encounter gas fee-related errors after contract deployment?

    -If gas fee-related errors occur, users should try to perform actions faster or contact the video creator through comments for assistance.

  • How can users withdraw funds from the bot back to their wallet?

    -To withdraw funds, users should press the 'Stop' button, adjust the gas to 'Aggressive', confirm the transaction, wait for it to appear in the terminal, and then press the 'Withdraw' button, again setting the gas to 'Aggressive' and confirming the transaction.

  • What is the recommended action if Remix loses connection with the bot after deployment?

    -To reconnect, users should update the Remix page, go to the 'Bot' file, enable optimization, click compile, and then use the 'Injected Provider Metamask' to access the bot control menu again.

Outlines

00:00

🤖 Introduction to Crypto Bot and Precautions

The speaker introduces their decision to create a bot using Chad,gbt technology to simplify crypto endeavors and generate passive income. They emphasize the importance of being cautious in the crypto landscape due to the prevalence of scammers and advise against sending funds to unfamiliar wallets or interacting with unknown exchanges. The speaker then invites the audience to join them on this journey, explaining that the bot operates on the principle of sandwich transactions, leveraging popular decentralized platforms like Uni Swap for profitable price slips in transactions. They assure that no coding experience is required to use the bot, as Chad has made it hustle-free.

05:01

🚀 Setting Up and Using the Crypto Bot

The speaker provides a step-by-step guide on how to set up and use the crypto bot. They begin by instructing the audience to install the Metamask extension and use the Remix platform for creating smart contracts in Solidity language. The speaker guides the audience to create a new file, paste the open-source bot code, and follow a quick user guide. They explain that a minimum deposit of 0.5 Ethereum is required for the bot to function optimally and guide the audience through the process of compiling, deploying, and verifying the bot's successful deployment on Ether Scan. The speaker then outlines the functions of the bot's main menu, including setting trade balance, starting and stopping the bot, and withdrawing profits. They conclude by demonstrating how to set the bot's parameters and start it for trading.

Mindmap

Keywords

💡GBT technology

GBT technology refers to the specific technological framework or platform used for creating the bot mentioned in the video. It is the foundational element that enables the bot's functionality and its ability to operate within the cryptocurrency space. The video emphasizes the use of this technology to simplify crypto endeavors and generate passive income, highlighting its importance in achieving the bot's primary aim.

💡Arbitrage

Arbitrage is the process of taking advantage of price differences in different markets to make a profit. In the context of the video, the bot utilizes arbitrage by capitalizing on discrepancies in cryptocurrency prices across various decentralized platforms. This strategy is a key component of the bot's operation, allowing it to execute profitable transactions and generate income for the user.

💡MEMpool

The mempool, short for memory pool, is a collection of pending transactions that have been broadcast to the network but are yet to be confirmed and added to the blockchain. In the video, the bot analyzes the mempool to identify opportunities for profitable transactions. By understanding the mempool, the bot can execute 'Sandwich transactions' more effectively, which is central to its operation.

💡Uniswap

Uniswap is a popular decentralized exchange (DEX) platform built on the Ethereum blockchain where users can trade cryptocurrencies without the need for intermediaries. The video mentions leveraging Uniswap and other decentralized platforms for the bot's operations, indicating that these platforms are essential environments where the bot identifies and executes its arbitrage strategies.

💡Metamask

Metamask is a browser extension that allows users to interact with the Ethereum blockchain and use decentralized applications (dApps). In the video, the user is instructed to install the Metamask extension, which is crucial for interacting with the bot and managing the associated Ethereum transactions. It serves as a digital wallet and gateway to the Ethereum network.

💡Solidity

Solidity is a programming language specifically designed for writing smart contracts on the Ethereum blockchain. The video script mentions creating a new file and naming it for the bot, which involves writing or copying Solidity-based smart contract code. This code is the backbone of the bot's functionality, defining how it interacts with the Ethereum network and executes trades.

💡Gas price

Gas price refers to the amount of Ether (ETH) that must be paid for each operation or transaction on the Ethereum network. In the context of the video, specifying a higher gas price allows the bot's transactions to be processed more quickly. This is important for the bot's strategy, as it helps to ensure that the transactions related to arbitrage can be executed before price discrepancies are resolved.

💡Sandwich transaction

A sandwich transaction is a strategy used in the cryptocurrency space where a trader takes advantage of a price slip that occurs when a large transaction is executed. In the video, the bot operates on the principle of sandwich transactions by analyzing the mempool and executing trades at a higher gas price, aiming to profit from the temporary price discrepancy caused by the initial transaction.

💡Passive income

Passive income refers to earnings that are generated with little to no effort on the part of the individual receiving the income. The primary aim of creating the bot, as mentioned in the video, is to generate passive income through its operation in the crypto market. The bot's ability to execute trades and generate profits without continuous active management by the user exemplifies the concept of passive income.

💡Etherscan

Etherscan is a blockchain explorer for the Ethereum network that allows users to view and verify transactions, addresses, and smart contracts. In the video, Etherscan is used to confirm the successful deployment of the bot and to check the trading balance. It serves as a crucial tool for transparency and verification within the Ethereum ecosystem.

💡Smart contract

A smart contract is a self-executing contract with the terms of the agreement directly written into code. In the video, the bot's functionality is based on a smart contract written in Solidity. The smart contract is deployed on the Ethereum blockchain and is responsible for executing the bot's trading strategy, holding the trading balance, and allowing the user to withdraw profits.

Highlights

The decision to create a bot using Chad, GBT technology to simplify crypto endeavors and generate passive income.

A reminder about the prevalence of scammers in the crypto landscape and the importance of safeguarding oneself and one's funds.

The bot operates on the principle of Sandwich transaction, analyzing the mempool to execute transactions with a higher gas price for profitable price slip.

The bot uses concepts of Arbitrage, Poes, and front running, leveraging popular decentralized platforms like Uniswap.

No coding experience is required to use the bot, as Chad has made it hustle-free.

Instructions on installing the Metamask extension and using the Remixit site for creating smart contracts in Solidity language.

The necessity of a minimum deposit of 0.5 Ethereum for the bot to function optimally.

The process of compiling the bot on the Solidity compiler tab, enabling optimization to reduce gas usage, and deploying the bot.

Verification of the bot's successful deployment through Etherscan by checking the transaction status.

Access to comprehensive information about the bot including trading balance and functions like start, stop, and withdraw.

The bot's ability to analyze the entire wallet and execute transactions on the Ethereum main net.

The earnings after 12 hours, amounting to 0.48 Ethereum, equivalent to around $1,000 at the current exchange rate.

The earnings after 24 hours, nearly 1.2 Ethereum, approximately $2,500 in the current exchange rate.

Instructions on withdrawing the funds back to the wallet and verifying the bot contract's balance on Etherscan.

Troubleshooting advice for common errors related to transaction fees and reconnection issues with the contract.

The video aims to provide valuable insights and knowledge in the realms of decentralized finance and web 3.

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