🐶 Big Changes For Big Doge

Gm, this is the doodhwala, the crypto newsletter that’s like a shot of espresso during a hangover.

WE’LL WAKE YOU RIGHT UP! ☕️

Here’s what we got for you today:

• 🐕 Doge Change: Big changes for the Big Doge

• 🤝 USDC x Coinbase: A Stable partnership begins

• 📈 Cheese and Charts: This NFT project is moon-ing!

• 🛠️ Resourcewala: How to handle Crypto Inflation 101

• 🍼 Doodhshots: Proof of…wait…Humanity?

🐕 DOGE To The Moon PoS

Everyone is talking about Doge. 🐕

(but this time it’s different)

People aren’t talking about its price or any space trips Elon sends it to. Nope.

It’s about: Should Doge change how it works? 🤓

From PoW → PoS.

Vitalik will be proud. 🥹

Wtf are you talkin’ about?

Quick breakdown:

• PoW (Proof-of-Work): This is how Bitcoin and currently Dogecoin validate transactions. Computers (called miners) solve complex calculations and add blocks of transactions to the record. For their sweat and electricity bills, they get some crypto (BTC or DOGE) as a reward.

• PoS (Proof-of-Stake): Think of it as putting your coins to work, like a fixed deposit. Holders "stake" their coins, helping the network run smoothly and earn rewards for it. It's a lot greener because there are no heavy computer calculations.

Sounds cool? Well, Ethereum thought so. 🤓

And in September 2022, they shifted from PoW to PoS, and guess what? It's now using 99.99% less energy! 🌍

Now back to Doge. 🐕

1. A recent vote asked if Doge fans would like this new method. 📊

2. This topic isn’t new. It's been around since 2014! 😲

3. The Dogecoin Foundation has given some hints about changing, but that’s it. Just hints. 😉

The big thing? There isn't just one person deciding for Doge.

It's a whole group deciding the direction, so the consensus is... tough. 🚢⚓

Who's saying what:

Our big guy Vitalik Buterin has been cheering for Dogecoin to switch to proof of stake.

But the recent poll, which got a 60% no-vote to staking DOGE tokens, seems like just the tip of the iceberg.👇

👉 Patrick Lodder, Dogecoin's OG, mentions a long-standing tussle on this topic. He also flags potential tech challenges if they decide to switch to POS. 🛠️

👉 Mishaboar, another Doge guru, is worried about security with PoS and isn’t convinced that it's a clear win. 😧

👉 Xanimo, another core developer, feels that "the community has become hyper-reactionary" and that people are now overreacting to even the possibility of discussing new ideas. 🤯

A person named Jae Kwon talked about some issues years ago.

(Mishaboar, Xanimo, Jae Kwon, the Dogecoin community is exactly as weird as I imagined). 🤣 🤣 🤣 

But the big Doge team felt it’d be too hard for everyone to get the hang of it. 🧠

And they said…

It’s not just about flipping a switch. Changing the system means heavy technical work. Imagine moving house, but instead of furniture, it's codes and data. 😰

So, not everyone is excited about PoS.

In short, they think if something’s working fine, let’s not mess with the basics. 🧘‍♂️

Doodhwala’s Take:

Dogecoin is like a big boat with many captains. Some want to sail to new shores; others like the current route. 🚤🗺️

We just wish it doesn’t sink like Titanic did but wasn’t Titanic a plot?

Well, that’s for another day.

🤝 USDC x Coinbase

Coinbase just told their bestie “Bro, I got you! 🤝”

Coinbase, one of the largest crypto exchanges in the US, and the world announced that they're fully onboard the stablecoin express. 🚂

How?

By taking a small stake in Circle, the issuer of USDC, Coinbase is all set to begin the next chapter of its business. 📖

What are they gonna do with this partnership?

And how will it impact their business? 📈📉

☝️Details of the partnership

Coinbase and Circle have been besties for a while now. 👬

And that's probably the reason for Coinbase to confidently take 1 step ahead in the stablecoin game of Jenga.

Here's what the partnership is for:

👉 Coinbase has taken an equity stake in Circle.

👉 Coinbase will help USDC launch on 6 new chains.

👉 USDC will still have full access and power to govern the stablecoin.

They also may or may not have said that USDC users who read the Doodhwala will be given priority access to Coinbase. 🥴

Here's the official announcement for their partnership 👇

✌️ Impact on the business

You see, as sensible as this partnership sounds — There isn’t any direct monetary impact on either of the business. At least not anytime soon. ⏱️

And Coinbase themselves said that there is no change in projections for the coming quarters from this partnership. 🤷

So wait. Why did our boi Brian muster up this partnership in the first place then? 👨‍🦲

Here are a few possible things that we brewed up:

• Coinbase wants to be the stablecoin leader with the help of Circle if there is mass adoption of stablecoins in the future. (And they don’t have their own native stablecoin unlike other exchanges)

• They built their own native chain BASE, and want to have a stablecoin partner for the same.

• Brian is a gambler and wants a stablecoin to help with his addiction. 🤷🏻‍♂️

Whichever one is true, we just hope that at the end of the day —

Coinbase and Circle don’t split up and leave USDC like the child of divorce. 😭

📈 Cheese and Charts: Milady's on 🔥

Okay, so, while everyone’s busy with their “to the moon” and “HODL” chants, some are secretly fangirling over the Milady Maker NFTs.

Milady Maker – heard of it?

No, it’s not the lady who makes your morning coffee, nope! 🤣

It’s a hip collection of 10,000 generative PFP NFTs with that neo chibi vibe.

And if you're scratching your head thinking, "What's a neochibi?" – imagine anime characters getting a high-fashion makeover and walking down the digital streets of Harajuku. 🎎👗

Wtf is a PFP? Nope, it's not an acronym for "Pretty Fantastic Pancakes."

But, hold on.

What’s the floor price?

It’s the lowest price at which a particular NFT can be purchased within a collection.

Now, let’s get to the juicy part:

🔸 Many PFP Collections: Like my energy on a Monday morning. Meh. 📉

🔸 Milady Maker: On a caffeinated high, always zooming upwards! 🚀

Basically, Milady’s floor prices saw a 4x growth from Jan 23.

Why the surge tho? 🔍

We don’t know exactly but maybe because it captures the cool street style look.

What’s your take on Milady's rise?

(REPLY and let us know) 👇

🛠 Resourcewala: Inflation Got You Thinking?

Let's get real - Inflation's got everybody tightening their belts.

Maybe even considering skipping that daily latte. ☕

But there’s another angle to consider when talking about digital assets. Stake Based Token Protocols are all the rage in the cryptoverse these days. 🌐

So, why exactly are people getting so hyped about staking in the face of inflation? 📈

We’ve got the insights, fresh off the press:

• The 'Stake' in Stake-Based Token Protocols 🥩

• How inflation impacts the whole staking shebang! 💸

• To stake or not to stake - that’s the golden question! 🎭

READ TIME: Quicker than you can say “Where’d my money go?!” ⚡

LFG! 🔥🔥🔥

🍼 Doodhshots: Proof of…Humanity?

• 🇰🇷 Korean Tax Evaders: South Korea is targeting its crypto tax evaders who owe the government more than $750. No more HIT MAXES…EVADE TAXES?

• 🕵️ Proof of Humanity?: Rarimo has launched a new plugin for crypto apps that conducts a ‘Proof of Humanity’ audit. ‘I’m not a Robot’ captchas wants to know your location.

• 🇮🇳 CoinDCX Layoffs: Indian crypto giant CoinDCX is laying off over 12% of its current workforce due to taxation and bear market conditions. Indian McDonald’s applications 📈

• 🇺🇸 FBI’s Bag: The Federal Bureau of Investigations has seized over $1.7 million in crypto in the last quarter. FBI out here making more gains than crypto bros.

• 💀 Weekend Jailer: SBFs team’s petition to keep him in jail only on the weekends was rejected and amended. Bro committed fraud and wants priority jail time wtf?

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya