👎 Mr. Munger, you’re wrong

Gm this is the doodhwala, the crypto newsletter that occupies as much space in your heart as the spacebar on the keyboard. ❤️

You’re looking at it now, right? 👀

Here’s what we got for you today:

• 👎 Mr. Munger, you’re wrong

• 👋 Goodbye to Coinbase NFT

• 🤙 We’re back BABY

• 👌 TRADE: Drugs for BTC

• 😂 Milky Meme Of The Day

Let’s hit it!!

👎 Mr. Munger, you’re wrong 

Charlie Munger.

The investor best known for being the sidekick to Warren Buffett and the vice president of Berkshire Hathaway has got some advice for the US government about crypto. But he’s waaayy off.

Yes, that’s a picture of two 90-year-olds drinking Coca-Cola 🤣

Munger wrote an article for the Wall Street Journal (that newspaper that tries to compete with the doodhwala) titled — “Why America Should Ban Bitcoin”

👍 10/10 for the click baity headline, I’ll give him that.

👎 5/10 on the convincing arguments tho.

😭 0/10 for choosing WSJ > doodhwala.

Here’s the TLDR:

• Private companies issue public cryptos

• Public cryptos are dumped on retail investors

• But this ☝️ has happened because of bad regulations

• The US should learn from China and ban cryptocurrencies

Alright, where do we begin 🫣

Munger doesn’t beat around the bush like other people, he calls it like it is. The almost centenarian (HE’s 99 YEARS OLD!!) called crypto:

a security ❌a currency ❌a commodity ❌

a gambling contract ✅

And not just any gambling contract, but one where the house always wins. 💰

He says the US government should learn from

….wait, did he really…...checks notes again…...the Communist government of China and ban crypto.

🤣

Yeah Charlie, I don’t think we should take tips from China on financial regulations. 🥲

Most banks in China are owned or controlled by the state governmen.

And just last year Chinese banks prevented customers from withdrawing $6 billion in deposits. THIS WAS THEIR MONEY!

Protestors took to the streets, the doodhwala was there👇

(btw: if you find the doodhwala, let us know with proof and we'll send you a prize 🏆 )

Doodhwala’s take:

Today we got no take, we got a 👏 clapback 👏 for Mr. Munger.

Instead of calling Munger a “boomer” what he’s saying makes sense.

Parts of crypto are for sure gambling, take shitcoin trading for example.

But beyond that Bitcoin, crypto, and the use-cases of blockchain technology has:

• given birth to a trillion-dollar industry

• unlocked use cases from finance to cancer research

• made it super easy and cheap to transfer money between countries

• even resulted in the creation of an unfunny and daily crypto newsletter (SorryNotSorry)

So, Mr. Munger maybe not take regulatory tips from China, and instead, look at your fellow American’s hot take on why India (yes India!) should buy Bitcoin.

🎮 Gameswala: Who cried Wolf 🐺

Guess this new up-and-comer NFT collection howling in the NFT Space with a whopping $26,398 in ETH in total volume. 🤯

(answer at the 👇 bottom👇 of the email)

👋 Time to say goodbye to Coinbase NFT?

The current NFT market is currently valued at around $12.2 BILLION. 💰

And everyone wants a piece of that.

This is why the NFT marketplace scene is one of the most crowded. 🙆‍♂️

I mean, think about it. There are SO MANY of them:

• Blur

• X2Y2

• OpenSea

• LooksRare

• Sudo Swap

• Magic Eden

• Doodh Magic Dukaan

This is more crowded than Mumbai local trains at 9 AM.

So obviously, in any crowded place, some people get lost or just fall off. 🤷‍♂️

And with the NFT marketplace scene, Coinbase NFT might just be the one to fall off. 😬

Wait…Coinbase has NFTs? 😅

Lol. l know.

Even we had forgotten about it.

But Coinbase launched its NFT platform in early 2022, spearheaded by the dude we just wrote about, Surojit Chatterjee. 😎

And now, Coinbase announced that they are pausing future NFT drops on the platform.

They did mention explicitly that they are not shutting the platform down

But, currently, all indicators point out that it might end up happening eventually.

• Coinbase laid off 950 members of staff last month ❌

• Their CPO, Surojit Chatterjee, has also left the company ❌

Not just that.

The total trading volume on the platform over the past 24 hours was just $106 😅

(it is still much more than the amount in my bank account 😭)

In terms of all-time traded volume on the platform, it is currently at $7.3 million. 👍

You might think it's huge but wait until you find out OpenSea’s volume in the last 24 hours —it's $11.3 million.

$11.3 MILLION in just ONE DAY! 🤯

Clearly, Coinbase NFT is no competition to OpenSea in its current state. ⛔️

So is it worth fighting this fight for Coinbase, given the bear market circumstances?

Or is it better to just shut shop and focus on what they do best —- fight the SEC to be a centralized exchange?

(REPLY and let us know! 👇)

🛠 Resourcewala: Understanding DAOs  

We all know that DAOs stand for Doodh and Oreos 🍪

Wait, it doesn’t? 🫢

You’re telling me it stands for – Decentralised Autonomous Organisation?!?

I’ve got a few questions

• why do DAOs exist?

• what do DAOs help with

• how can I start a DAO of my own?

Don’t worry my Doodhs, check out this amazing resource on understanding DAOs! 👇

📊 Chaach and Charts: We’re back BABY

*Alexa, play Without Me by Eminem.*

Guess who's back? Back again? Shady's back, tell a friend.

We cracking out the old-school rap, because NFTs are back (hey! that rhymed).

After 5 months of a clown show of a market due to FTX, Genesis, and the crypto newsletter called the doodhwala, NFT traders have returned.

In January 2023, NFTs on Polygon went from 💩 to 🚀

Take a look 👇

🗓️ October 2022: 65k🗓️ November 2022: 83k🗓️ December 2022: 115k🗓️ January 2023: 224k

🍼 Crypto doodh shots: Drugs for BTC

• 🟢 Going Green: BNB Chain released a whitepaper (more like greenpaper) for BNB Greenfield for smart contract-integrated data storage

• 🛰️ ETH MANGALYAAN: 7 testnets have been launched within the space (get it?) of a week as preparations for Shanghai!!

• 🦹 Hackers! Spare me: Hackers stole at least $3.8 billion in 2022 through DeFi & cross-chain bridges (civil engineers WANTED in Web3)

• 💰 Grant Me Access: Aptos issued a $50k grant to a Cornell CompSci Prof for Web3 stuff (wen grant to crypto newsletters?)

• 💉 Drugs for BTC?: Police are cracking down on South Korean youth buying drugs with crypto (I guess something is getting high)

😂 Milky Meme Of The Day

💰Answer💰

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

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 a 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.