How to Deploy ChatGPT MEV and make 1.5e on Fees

SolidityTutorials
11 Mar 202408:08

TLDRThe video script outlines the creation and use of a cryptocurrency trading bot using Chad,GBT technology for generating passive income. It emphasizes the importance of security in the crypto landscape and details the bot's operation based on arbitrage, mempool analysis, and smart contract deployment via Metamask on the Ethereum network. The bot simplifies the trading process without coding knowledge and allows users to start with a minimum deposit of 0.5 Ethereum. The video also provides a step-by-step guide on setting up the bot, verifying its deployment, and managing its functions, concluding with a demonstration of the bot's profitability over a 24-hour period.

Takeaways

  • 🛠 The video introduces a bot built with GBT technology aimed at simplifying cryptocurrency endeavors, focusing on generating passive income through arbitrage, MPoEs, and front-running techniques.
  • 🔒 It emphasizes the importance of taking precautions to avoid scammers in the cryptocurrency landscape by not sending money to unfamiliar wallets or interacting with unknown exchanges.
  • 🛡 The bot operates on the principle of Sandwich transactions, analyzing the mempool to execute transactions with a specified gas price higher than the initiated one, resulting in a profitable price slip.
  • 💻 No coding experience is required to use the bot, making the process hassle-free and accessible to a wide audience.
  • 📦 Initial setup involves installing the MetaMask extension, visiting the Remix IDE site for creating Solidity-based smart contracts, and copying the provided open-source bot code.
  • 💰 A minimum deposit of 0.5 Ethereum is required for the bot to function optimally, with larger deposits allowing for more transactions and increased profits.
  • 🔧 The deployment process includes compiling the bot with optimization to reduce gas usage, deploying via MetaMask, and setting the gas to aggressive to speed up transactions.
  • 📈 After deployment, users can manage their bot through the Remix IDE, including starting and stopping the bot, withdrawing profits, and adjusting trade balances.
  • 💵 The video showcases the bot's profitability, with the creator earning significant passive income in Ethereum over 24 hours, demonstrating the bot's effectiveness.
  • 🛠 In case of errors after deploying the contract, solutions such as reconnecting to the contract or creating a new one are provided, emphasizing fast action to avoid disconnection issues.

Q & A

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

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

  • What kind of technology is Chad, GBT based on?

    -Chad, GBT is based on blockchain technology, utilizing concepts like Arbitrage, Poes, and front running in decentralized platforms.

  • What precautions should be taken in the crypto landscape?

    -In the crypto landscape, one should avoid sending money to unfamiliar wallets and interacting with unknown exchanges to safeguard themselves and their funds.

  • What does the bot operate on, and how does it work?

    -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 required to start using the bot?

    -To start using the bot, one needs to have the Metamask extension installed and a minimum deposit of 0.5 Ethereum in their wallet.

  • How is the bot's performance assessed?

    -The bot's performance is assessed by observing the profit generated over a period, such as 12 and 24 hours, and verifying the transaction status on Etherscan.

  • What is the role of the API key provided by the bot?

    -The API key is for working with the bot and should not be shared with anyone to maintain security.

  • How can you withdraw funds from the bot?

    -To withdraw funds, you press the 'withdraw' button, adjust the gas to aggressive, confirm the transaction, and wait for it to be displayed in the terminal and reflected in your wallet.

  • What is the most common problem encountered after contract deployment, and how is it fixed?

    -The most common problem is Remix not calculating the transaction fee due to losing connection with the bot code. It can be fixed by reconnecting to the contract or creating a new one, ensuring to act faster.

  • How much profit was generated after 24 hours, and what was its equivalent value in USD at the time of the script?

    -After 24 hours, nearly 1.2 Ethereum was earned, which was approximately $2500 at the current exchange rate during the time of the script.

  • What additional advice is given for troubleshooting gas fee-related errors?

    -For gas fee-related errors, it is advised to act faster during the process, and if the problem persists, to contact the script provider through comments for assistance.

Outlines

00:00

🤖 Introduction to Crypto Bot and Safety Precautions

The speaker introduces their decision to create a bot using Chad,GBT technology to simplify cryptocurrency endeavors and generate passive income. They emphasize the importance of being cautious in the crypto landscape due to the prevalence of scammers. The speaker advises avoiding interactions with unfamiliar wallets or exchanges to safeguard funds. The video then transitions into discussing the bot's operational basis, which includes arbitrage, MPoes, and front running, particularly leveraging decentralized platforms like Uni Swap. The bot operates on the sandwich transaction principle, analyzing the mempool to execute transactions with a higher gas price for profitable price slips. The speaker shares their personal experience with the bot, highlighting that no coding experience is required to use it.

05:01

🚀 Setting Up the Crypto Bot and Initial Testing

The speaker guides the audience through the initial setup of the crypto bot, starting with the installation of the Metamask extension and using the Remix platform for creating smart contracts in Solidity language. They provide a step-by-step process for creating a new file, copying the open-source bot code, and setting up the bot with a minimum deposit of 0.5 Ethereum. The speaker explains the compilation and deployment process in Remix, including optimizing gas usage and using the injected provider Metamask. They also detail the verification of the bot's successful deployment on Ether Scan and accessing the bot's functions, such as setting trade balance, starting and stopping the bot, and withdrawing profits. The speaker concludes by discussing the bot's performance after 12 and 24 hours, showcasing significant earnings and providing instructions for withdrawing funds back to the wallet.

Mindmap

Keywords

💡Chad, gbt technology

Chad, gbt technology refers to the platform or framework used to create the bot mentioned in the video. It is the underlying technology that enables the bot to function and perform its tasks in the cryptocurrency landscape. The video does not provide extensive details about Chad, gbt, but it is implied that it is user-friendly and efficient for creating bots aimed at generating passive income through crypto transactions.

💡Arbitrage

Arbitrage is the practice of taking advantage of price differences in different markets to make a profit. In the context of the video, the bot uses arbitrage by identifying discrepancies in cryptocurrency prices across different decentralized platforms, such as Uniswap, to execute profitable trades. This strategy is a key component of how the bot operates to generate income.

💡Mempool

The mempool, short for memory pool, is a collection of all unconfirmed transactions that have been broadcast to the network but are still waiting to be confirmed by a miner and added to the blockchain. In the video, the bot analyzes the mempool to find transactions that have been initiated but not yet processed, allowing it to execute its strategy by specifying a higher gas price for its transactions.

💡Uniswap

Uniswap is a popular decentralized exchange (DEX) built on the Ethereum blockchain where users can trade various cryptocurrencies without the need for a central authority. In the video, Uniswap is mentioned as one of the decentralized platforms that the bot interacts with to perform its arbitrage strategy and generate profits.

💡MetaMask

MetaMask is a browser extension that allows users to interact with the Ethereum blockchain and use dApps (decentralized applications) directly from their web browser. In the video, MetaMask is used to connect the user's wallet to the Ethereum mainnet chain and interact with the bot's smart contract for deployment and management.

💡Solidity

Solidity is a programming language specifically designed for writing smart contracts on the Ethereum blockchain. In the context of the video, the user is guided to create a new file in Remix, a platform for writing and deploying smart contracts in Solidity, to set up the bot's code.

💡Gas price

Gas price in the context of Ethereum and other blockchain networks refers to the amount of Ether (ETH) that must be paid for each unit of gas, which is a measure of computational work required to execute a transaction or smart contract. Higher gas prices can lead to faster transaction processing times but at a higher cost. In the video, the bot specifies a higher gas price to ensure its transactions are processed quickly, which is crucial for its arbitrage strategy.

💡Etherscan

Etherscan is a blockchain explorer for the Ethereum network that allows users to view and verify transactions, smart contracts, and wallet balances. In the video, Etherscan is used to confirm the successful deployment of the bot's smart contract and to check the trading balance of the bot.

💡Smart contract

A smart contract is a self-executing contract with the terms of the agreement directly written into code on the blockchain. These contracts automatically execute when the conditions in the contract are met, without the need for intermediaries. In the video, the bot is a smart contract deployed on the Ethereum blockchain, which facilitates its automated trading and management of funds.

💡Passive income

Passive income refers to earnings that are generated with minimal continuous effort by the individual receiving the income. In the context of the video, the bot is designed to generate passive income for the user by executing arbitrage trades on the Ethereum network without the need for constant supervision or active trading.

💡Transaction hash

A transaction hash, also known as a transaction ID, is a unique identifier for each transaction on a blockchain. It is a cryptographic hash that confirms the transaction's authenticity and immutability. In the video, the transaction hash is used to verify the successful deployment of the bot's smart contract on Etherscan.

Highlights

The creation of a bot using Chad, gbt technology is aimed at simplifying crypto endeavors and generating passive income.

Crypto landscape is filled with scammers, so it's crucial to safeguard yourself and your funds by avoiding unfamiliar wallets and exchanges.

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

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

To start, ensure you have the Metamask extension installed and visit the RemixIT site for creating smart contracts in Solidity language.

For optimal function, the bot requires a minimum deposit of 0.5 Ethereum or more, with larger deposits leading to more transactions and increased profits.

Compile the bot with the Solidity compiler in Remix, enabling optimization to reduce gas usage.

Deploy the bot using the injected provider Metamask and set the gas to aggressive for faster transactions.

Verify the successful deployment of the bot on Etherscan by checking the transaction status.

The bot's main menu provides functions like setting trade balance, starting and stopping the bot, withdrawing profits, and managing API keys.

After setting the bot's parameters, it analyzes the entire wallet and starts trading with the specified amount on the Ethereum main net.

After 12 hours, the bot can generate significant passive income, such as earning 0.48 Ethereum equivalent to around $1,000.

By the 24-hour mark, the bot's performance can lead to earnings of nearly 1.2 Ethereum, approximately $2,500 at the current exchange rate.

To withdraw funds, stop the bot, adjust the gas to aggressive, and confirm the transaction on the bot control menu.

If errors occur after contract deployment, reconnect to the contract or create a new one by following the instructions provided.

The video aims to provide valuable insights into decentralized finance and web 3, encouraging viewers to subscribe for more informative content.

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