🥛 Bitcoin vs. Gold. The survey says…
GM, this is the Milk Road. The friend who’s saving you a seat at the crypto lunch table (with our leg, not just a backpack).
Email Read Time: 3 Minutes & 7 Seconds
Let’s talk about the “p word.”
Patience.
This year has been rough for crypto prices. We’ve been down all year, but today, ladies…TODAY IS OUR DAY.
We’re back in the green for the first time year-to-date (YTD)!
That’s why rule #97 of the Milk Road is “be impatient with action, patient with results.” And your boys here at the Milk Road are so patient, you’re gonna wanna call the doctor.
Let’s check the Fear & Greed Index. Yep, we’re entering greed territory.
Wanna get caught up on what everyone's talking about?
🪙 Bitcoin more popular than gold?
🐦 Elon wants a decentralized Twitter
🍴 I just spent $1,000 to join a DAO
🥛 The Milk Road TikTok Challenge
BITCOIN IS MORE POPULAR THAN GOLD FOR U.S. INVESTORS
This survey is kind of amazing.
Check this out.
Why this matters:
Bitcoin is often called “Gold 2.0” or “Digital Gold.” And people are speculating if it will ever be as popular as gold is.
Well, according to this survey: 2x more people already own Bitcoin vs. Gold.
Now, the survey only had 1,000 people, and these stats can be deceiving, but it’s a positive signal worth watching.
So what?
One of the biggest risks for crypto is “the government.”
The government is like the big bad wolf, and people are worried it’s about to huff, puff, and blow our house down. But if enough people own crypto – then it’s going to be political suicide to go against crypto.
We already have:
Something like ~20-30M americans own crypto
Companies like Exxon, Square, Tesla etc…that own or use crypto
Crypto is on the front page of Goldman Sachs website
Etc..
That’s a big and growing group that has skin in the game. If a politician tried to drop the hammer on crypto, they would make a lot of enemies.
ELON'S CALLING FOR A NEW (WEB3) TWITTER
Elon is saying Twitter has too much power to control speech, and we need a new platform.
Why it matters? There have been several attempts to create a “decentralized” twitter.
Bitclout
Mastadon
Farcaster
They all have failed (so far) because decentralized isn’t a good sales pitch.
It’s like if you host a party, and keep talking about how awesome the carpet is at the party. Guests don’t care about the carpet. And users don’t care about decentralization.
They care about who else is there, and if the party is any fun.
But at some point, it will happen.
And I don’t know if Elon is going to start it, or at least inspire some kid in his bedroom to make it.
Hopefully Elon will use his fame (he’s the 9th most followed person on Twitter), to help promote it when it’s here.
A new social protocol will happen eventually. When it does, it will be glorious. And I will be investing in it big time. Just a matter of waiting for the right project to appear.
I JUST SPENT $1,000 TO JOIN A "DINNERDAO"
I just bought an NFT for $1,000 that gets me access to DinnerDAO. A once-a-month dinner club for web3 nerds like me.
Here’s how it works:
NFT holders vote on where you’re gonna go to dinner
You show up and there’s a table for 8 members of the DAO
The DAO covers the cost using the money it made selling the NFTs
At first glance, this is just another club with a membership fee – does an NFT make it better?
Well – there’s one big difference. You can’t sell your gym membership, but you can sell your NFT. So let’s say I go to dinners for awhile, this concept gets more popular, and more people want in – I might be able to flip my NFT for a profit when I’m ready to exit.
I'm in the Austin chapter, but they have chapters in New York, LA, SF, and Portland too.
Oh, and if you see my wife, don’t tell her that I spent $1,000 pre-paying for dinners with randos from the internet. She’s still a little salty about the whole “forgot about Valentines” thing.
FIVE NUGGETS
The Luna Foundation Guard (LFG) bought another $130M of Bitcoin. See the transactions here.
Raoul Pal bought a Bored Ape. Read why here.
Coinbase eyes Latin America’s largest crypto brokerage and its $2.2B parent company as its next major acquisition. Read more here.
Google trademarks “Non Fungible Planet.” But unlike other filings, this one doesn’t have any implications of collectibles or tokens – instead the focus is on education about climate change.
Nelson Mandela’s arrest warrant is now an NFT….and it sold for $130,000
Web3 came up on the Joe Rogan pod and Antonio Garcia-Martinez talked about how web3 could make sure nobody gets kicked off social networks. One of these days, a guest is gonna push him over the edge. Check out the full episode here (web3 is featured at 2 hours, 41 minutes).
GUY TRIES TO FLEX HIS NFTS ON LINKEDIN
LinkedIn is already half cringe. If you start adding your NFTs as work experience, you’ve gone full cringe.
THE MILK ROAD TIKTOK CHALLENGE
Last week, we told you that we're launching our TikTok account.
You've got one more day to get your submissions in.
How? Record a TikTok based on today’s edition of the Milk Road. You can take 1 story, or multiple stories, and just make it fun/entertaining to watch.
After you record, send us the link on Twitter
The top 3 get $50 (paid via crypto, ofc) and get the opportunity to turn this into an ongoing side hustle!
See ya tomorrow!
Shaan "Chocolate Milk" Puri and Ben "2% Milk" Levy
Reviews from The Road
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Getting warmer…Arf arf back at ya!
Aaaand there it is.
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