👾 Gaming Giant Removes Bitcoin

Gm this is the doodhwala. The crypto newsletter that’s too good for school, because we’re that cool, and make you love doodh.

Damn, we should be a rapper. Lil Lactose 🥛

Here’s what we got for you today:

• ↗️ Minecraft Changes: Minecraft Is Removing Bitcoin

• 😨 Freaky Friday: $5 Billion Contract Expiry

• 📈 Cheese and Charts: SocialFi > Defi?

• 🛠️ Resourcewala: How DApps Go Mainstream

• 🍼 Doodhshots: HTX Got FTX’ed

🟠 Minecraft Removes Bitcoin

Minecraft.

The biggest-selling video game of all time is going through a big change.

And it involves Bitcoin.

Satlantis, the cool Minecraft server that was like the Santa Claus of Bitcoin, has to stop its Bitcoin rewards! 💔

Why?

Cuz Mojang, the creator of Minecraft, said so! 🤷‍♂️

So, what's the real deal?

Satlantis was an independent server where you could play Minecraft and earn Bitcoin! Players could accumulate and withdraw small amounts of Bitcoin. 🟠

But now, this P2E (play-to-earn) feature will be removed. 🚫

David Dineno, the guy who started Satlantis, said that they have to remove this feature by 12 p.m. ET on Monday. That’s 9:30 pm on Tuesday for us in 🇮🇳

So, if you have any Bitcoin in there, better take it out fast! 🏃💨

But here’s the happy news.

David has plans to bring this feature back in another game. 🙌

Basically, all the earnings, in-game items, and player statuses will be transferred to its new game platform in the future. 🔄🌐

Why didn’t David say NO to Mojang?

David said that Mojang would have blocked their server and stopped their host if they didn’t listen. 🤯

It’s like saying NO to your boss that you haven’t said ever unless you work in crypto.

“I really didn’t want to do this. I had no choice," he said. 🤦‍♂️ C

Basically, Mojang wants the players to only have fun and not make money while at it.

Over 2,300 players played Satlantis, and they had even given away a whole Bitcoin in rewards. 🎁

But David isn’t giving up.

They already have a new game in the works.

So, there might be some news on that very soon. 🚀

But wait, there’s more! 📜

Minecraft’s rules now say you can’t have play-to-earn features and NFTs in user-run servers. 🚫

And Minecraft isn’t alone.

GTA 5 also said no to NFTs and crypto in fan servers in November 2022.

Doodhwala’s Take:

Gaming can be the most attractive space for crypto to go mainstream. Almost as attractive as the doodhwala. 🤗

😨 Incoming: Freaky Friday

Well, this Friday is gonna be a big mover for the crypto market. 📈📉

No, it's not because there's a free milk giveaway. 🥛 (but we hope there is one)

It's because of a big expiry day coming in for derivatives instruments for Bitcoin and Ethereum.

With more than $5 Billion in option contracts expiring on Friday.

But before that – we need to understand what the frick Option Expiries are. And why this is such an important market mover! 💯

☝️What is an Option Expiry?

But first, what is a Bitcoin Options contract

Now onto “expiry.”

Think of it like the packaged doodh that you receive. There is always a “Use before ____ date” on it. 🗓️

Everything good has to come to an end someday. 😭

And Option contracts are the same. When someone chooses to execute an option contract right — They have to execute it within the date of expiry.

And Option contracts on Deribit, the leading Options and Futures crypto exchange, have expiries that go all the way from

• Daily Expiry

• Weekly Expiry

• Monthly Expiry

• Quarterly Expiry

And this Friday, they're ALL getting expired. 😲

✌️Big Friday Mover

The traditional financial markets have something similar for such expiries.

And it's called “Quadruple Witching Day” or just “Witching Day”, and it happens 4 times a year.

Witching Day is when both Options and Futures contracts expire for

👉 Annual Contracts

👉 Quarterly Contracts

👉 Monthly Contracts

👉 Weekly Contracts

And Witching Day for Bitcoin and Ethereum has led to a total of over $5 billion accumulated for the weekend. 🤑

That's a total of – 117,000 BTC options contracts and 1.1 million ETH options contracts expiring on Deribit.😵

And that's just one derivatives exchange. 🤯

The highest accumulation is for Ethereum, with the Max Pain Point (Price where traders lose a lotta money) sitting at $1650.

Look at that frikkin open interest man. 👇

So make sure you're managing your risk carefully bracing into the week, coz there's gonna be big movements.

Not to mention, two other market movers happening:

• The US GDP data release

• FED chair Jerome Powell's speech

Trade safe, and keep milkin’ it! 🥛

📈 Cheese and Charts: SocialFi > Defi?

You know how in every group there's a kid who just started going to gym and always flexes his newly grown muscles? (that are practically invisible)💀

Well, SocialFi is just that kid except it’s got real muscles.

According to some juicy data, two of the top 10 protocols by fees generated in the last 24 hours are from the SocialFi. 🤑

Who’s In the Game?

• Friend Tech

• PostTechSoFi

Wait, what's SocialFi? 🤔

SocialFi is the cool mix of social media and finance. Basically, it’s like your posts and likes are now worth money! 💸

But it can also depend on different apps.

We wrote all about Friend Tech here.

Now, let's break down those numbers. 📊

🥳 Friend Tech

• Position: 5th

• Fees: $772,425 (24h)

😎 PostTechSoFi

• Position: 7th

• Fees: $524,103 (24h)

That's some serious cash!

Who’d have thought that social media could give much more than just dopamine releases?

So, what's the takeaway? SocialFi's not just here to play; it's here to slay! 🔥

But remember, it's not about the money, money, money... or is it? 🤨

What's your take? Is this just a one-time thing, or is SocialFi the next big trend? 🌐

(REPLY and let us know👇)

🛠 Resourcewala: Bringing dApps to Every Hand

Everyone talks crypto – but how many actually USE the dApps? 🧐

See crypto's not just about holding coins and waiting for the moon; it’s about using it to do dope stuff NOW! 🚀

There are countless apps bringing crypto into our daily lives, but the struggle is REAL to get these apps into every hand. 🙌

That’s we're talkin' bout:

• Why mainstream adoption is a struggle? 🤷‍♀️

• The role of design, UI, and some real talk about UX. 🎨

• The secret sauce to make dapps mainstream. 👨‍🎨

Plus: Making crypto apps as chill as Netflix n' chill. 🍿

LFG! 🔥🔥🔥

🍼 Doodhshots: HTX Got FTX’ed

• 😲 Legit Fraud?: A man from Australia named Jatinder Singh spent nearly $6.7 million due to an accounting error by Crypto(dot)com. Legal frauds happening now?

• 🥷 Huobi Hacked: Justin Sun’s exchange HTX (prev. Huobi) got hacked for 5000 ETH. Bro resembled the name to FTX and got hacked in a week.

• 🍴Friendly Fork: Solana’s Fork of Friend Tech called Friendzy is close to making a $1 million revenue within a week of launch. First time a Solana fork has worked?

• 🤑 Saylor's Voyage: Michael Saylor has purchased yet another 5445 Bitcoin, making them the 4th largest BTC holder. You ain't got nothin’ on Brian tho Saylor.

• 🇰🇷 Korean Sus: Korean exchange Upbit just shut down withdrawals to avoid a fuss amidst a hack. Not your keys, not your crypto bois.

🤣 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