🥛 5 Bitcoin to solve this CAPTCHA?! 🤯
- Writer Milk Man
- September 6, 2022
- •3 Min Read
GM. This is the Milk Road, the crypto newsletter that puts the fun in dysfunctional. Cause let’s be real, that’s what crypto is half the time.
Here's what we got for you today:
- 5 BTC to solve this CAPTCHA
- Binance makes a big move for its stablecoin
- Our first experience with Sorare
- Meme of the day
5 BITCOIN TO SOLVE THIS CAPTCHA
Check it out. Back in 2010, people were getting paid 5 bitcoin just to solve a CAPTCHA.
Yup, FIVE bitcoin. That's ~$100k... to solve something I get asked to do 4 times a day, for free.
It was something called a Bitcoin faucet.
- Back in 2010, Gavin Anderson (one of the main bitcoin developers) set up a website to get more people into BTC.
- So he built a CAPTCHA site that gave away 5 free bitcoin to anyone who solved it
- He put up ~1,100 of his own BTC to kickstart it and ended up getting donations from other miners and whales
- In total, the Bitcoin faucet gave away ~19,700 BTC. That’s $390m is today's prices (!!)
- He ended it in 2011 and there was still 750 Bitcoin left to give away
If they ever successfully build a time machine in my lifetime, I know what time I’m going back to - 2010. Free Bitcoin and OG Instagram.
BINANCE MAKES A BIG MOVE FOR ITS STABLECOIN - BUSD
Binance just made a big move. 3 of the top 7 stablecoins will have their trading pairs removed from Binance's exchange - USDC, USDP, and TUSD.
You might’ve seen a few headlines about it, but there are a few misconceptions flying around. We’re here to debunk a few myths with some cold, milky facts.
Myth #1: These stablecoins are being delisted.
False - Binance is only getting rid of the USDC, TUSD, and USDP trading pairs. You can still deposit & withdraw any of those stablecoins to/from Binance
Myth #2: This move is bad & will hurt stablecoins like USDC.
False - A lot of people were calling foul play on Binance. Saying it was a move to slow down the competition. But that’s just not true.
- Removing most stablecoin pairs is actually a good thing
- Liquidity shouldn’t be split between all these different stablecoin pairs
- Simplifying it will make market makers’ jobs easier and the overall markets more liquid
And the CEO of Circle (the issuer of USDC) seems to agree.
He even goes on to predict that this will lead to a gradual net share shift from USDT to BUSD and USDC.
The Milk Road's Take: The most interesting thing was how USDT didn’t get an invite to the party. Although it’s currently sitting on top of the stablecoin throne (market cap of $67b), it could lose some of its ground with more moves like this.
The Battle of Stablecoins continues 👀
TODAY'S EMAIL IS BROUGHT TO YOU BY SORARE
We all grow up dreaming to own a sports team. And I hate to break it to ya but 99.99% of us never will.
But that’s okay. Because we have fantasy sports teams. So in my world, I own 5 sports teams.
I just added 1 more… say hello to the Milk Road Sluggers. The official Milk Road Sorare team.
Sorare is an NFT-based free-to-play fantasy sports game where you compete weekly for rewards. You can:
- Scout, collect, and trade officially licensed digital player cards from every MLB team
- Build seven-player lineups from cards in your collection and enter tournaments each week
- Compete with other teams for weekly rewards. Scores are determined by how well your players do in real-life
We kept hearing about it so we had to try it out. Now I know what you’re thinking…. “Here we go with another web3 game”. And I get it…
- StepN (run-to-earn game) was running out the gates, then cramped up and collapsed
- Axie Infinity (play-to-earn game) was a top game and completely crumbled
And if you’re not skeptical about that, you might be thinking about digital sports cards -NBA Topshot had a hot start and now they’re performing like Shaq at the free throw.
So we decided to do a 6-week experiment to fully test it out and find out if Sorare is the real deal like we hear it is. We’re gonna give you nothing but the cold, hard facts.
Okay, let’s jump into Week 1. Here are the top 3 takeaways so far:
1/ Free-to-play is a game-changer. You don’t need to spend a single dollar to start playing Sorare. Nothing. Zip. Nada.
Instead, Sorare gives you 13 free cards to start. Plus you get to pick your first player.
These were our options. It was an obvious choice…. there can only be Juan.
One thing to point out is these cards are untradeable. They have no worth and can’t be sold in the marketplace.
This is interesting because it forces people to use the players to actually learn the game, without having the players affect the existing marketplace by immediately getting sold off.
2/ It’s a game built for sports fanatics. If you’re in it for a quick flip or make a quick buck, Sorare probably isn’t the game for you.
And that’s by design. Sorare knows its audience (fantasy sports enthusiasts) and has built a game just for them.
Fun Fact: Sorare and NBA Topshot came out around the same time. So while NBA Topshot has certainly been the better known, Sorare has been the one with the better growth.
And that’s because they’ve taken the slow & steady route, not the “let's hype it on all social media” route.
3/ Sorare has one of the easiest onboarding experiences in Web3
All you need is an email address to create your wallet. You can even connect a Gmail or Facebook account. No gibberish about seed phrases or long alphanumeric addresses.
New users don’t even need to worry about converting funds to crypto. Everything’s in dolla dolla bills.
No crypto = one less headache for new users.
Week 1 summary: So far, the experience has been good. The onboarding was quick & easy and we didn’t have to spend a single dollar.
Now we have our eyes set on Week 2. We’re gonna shop around to upgrade the team and enter some tournaments to win rewards. We got our eyes on the prize.
Think you got what it takes to compete with the Milk Road Sluggers? Claim your FREE pack here!
P.S - starting next week we're gonna be holding our own Milk Road challenges vs our readers. So you might wanna start building that dream team now. We won't be taking it easy on you...
MEME OF THE DAY
That's a wrap for today, ladies & gents. Stay thirsty & see ya tomorrow!
If you want more, be sure to follow our Twitter (@MilkRoadDaily)
A ROADERS REVIEW
We love you too.
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
Get smarter about crypto
Join 250,000+ subscribers and get our 5 min daily newsletter on what matters in crypto.