🥛 The Milk Man's 2023 Predictions 🔮
- Writer Milk Man
- December 27, 2022
- •3 Min Read
GM. This is the Milk Road. The newsletter that takes crypto news and turns it into a fun, easy-to-read email for you each day.
We take lemons and make beef stew.
Here's what we got for you today:
- 2023 predictions
- Crypto billionaires lose BIG in 2022
- Milky Meme
PREDICTIONS FOR 2023
It's that time of the year again.
The time of year where everyone whips out a crystal ball and thinks they can predict the future.
And I get it. Everyone wants to be like Michael Lee. Aka the guy that predicted the Chicago Cubs would win the 2016 World Series, 23 years before it actually happened.
Talk about a party flex.
Unfortunately, most of us suck with predictions. Hell, the weatherperson lies to me every day about what the weather's gonna be like this week.
But that doesn't stop us from trying. Here are some of the most interesting predictions we've seen so far:
And now, the Top 4 Milk Road Predictions for 2023....
1/ It'll be another year without crypto legislation
Crypto is full of criminals exploiting normal people everyday - rug pulls, stealing customer funds, and misleading investors.
What has the U.S. government done? Nothing. Zip. Nada.
No legal framework or clear legislation for crypto companies to follow.
No one in Congress can agree on any laws. It's like asking kids what they want for dinner - one minute they want chicken nuggets, the next minute they want ice cream instead.
And the SEC seems to be more focused on keeping up with the Kardashians and fining other celebrities than charging the actual criminals.
So, don’t expect any regulatory clarity next year.
2/ ETH unlock gets pushed back
The Merge required Ethereum validators to stake their ETH to secure the network.
The validators receive a 5% yield for their service.
But, there’s a catch. Validators can’t unstake their ETH until the next network update. Which was supposed to be 6 months after the Merge. But now…
The Merge took years longer than expected and so will the next update.
3/ ETH and BTC will lose another 50%
ETH is down 75% from its 2021 high, and so is BTC.
It can't get much worse.... right?
Well, Bitcoin dropped 85% in 2017 and Ethereum dropped 93% in 2018.
We're predicting history repeats itself and more pain is on the way.
4/ The first mainstream Web3 application will be a Web3 video game
DappRadar is a tool that tracks onchain activity such as DeFi, NFTs, and Gaming.
In its "Top Blockchain Dapp" rankings (the Dapps are ranked by smart contract activity,) the top 2 dapps are Web3 games.
In 2021, investors poured $4b into Web3 gaming.
In 2022, over $7b has been invested in Web3 games.
Plus, more and more big names are entering the space - Epic Games, and the creators of PubG and Grand Theft Auto.
There's more talent, more money, and more traction than ever in Web3 games.
So it'll have its time in the sun in 2023.
You heard it here first.
TODAY'S EDITION IS BROUGHT TO YOU BY UNSELLABLE
We're harvesting for NFT losers today…
It’s called Tax Loss Harvesting… selling your losers before 12/31 so you can write them off and slash 2022’s tax bill.
Most NFT holders have at least one NFT their wallet that isn’t looking so hot…
Like, pretty much worthless …totally illiquid… couldn’t sell ‘em if you tried!
Introducing Unsellable NFTs - they let you sell your worthless NFTs to save money on taxes!
It’s a quick and easy way to sell up to 500 “unsellable” NFTs at a time, so you can write off your losses and save serious money.
It doesn’t matter if you paid $10k for a rugged project or bought your friend's NFT that’s now worth nothing… you can still make money from those NFTs that tanked.
But you only have 5 more days to make your move!
Yesterday an investor sold 19 worthless NFTs to Unsellable in under 5 minutes to earn a $4,934 tax deduction!
Don’t miss out on the easiest way to make money in the bear market and SELL YOUR NFTs TODAY.
CRYPTO BILLIONAIRES LOSE BIG IN 2022
It’s not every day you make billions of dollars.
It’s also not every day you lose billions of dollars.
But the wealthiest folks in crypto have done just that.
Forbes made a handy dandy chart of the drops in fortune in 2022.
Here are some highlights:
1/ CZ: $65b → $4.5b
CZ, Binance’s head honcho’s, net worth is wrapped up nice & pretty in Binance.
- He holds about a 70% stake in the crypto exchange
- That was worth $65b back in March, according to Forbes
But now, that stake is valued at a paltry $4.5b.
He may have greased the runway of FTX’s downfall.
But he also isn’t immune to it and the contagion it caused.
2/ Samuel: $24b → $0
This one’s kinda self-explanatory.
You build up a company that you say is financially stable.
You grace magazine covers with your big, curly hair.
And have a net worth of a small country.
Then it all comes tumbling down and you move in with your parents.
You know. As you do.
3/ Brian Armstrong: $6b → $1.5b
He’s made it a point that Coinbase isn’t like the other girls.
It’s centralized, regulated, and stays in its own lane.
It wears Converse with its mini skirts. So alt.
But Armstrong trying to set it apart from other crypto players isn’t entirely working.
Coinbase’s stock has still hella dipped, along with Armstrong’s fortune.
4/ Winklevoss twins: $4b → $1.1b
Each of the Winklevii have had about $3b wiped from their net worth this year.
They chose to use Genesis as their lending partner for Gemini’s high-yield Earn program.
There are too many G’s, so to recap:
- Gemini is the exchange that the Winklevii operate
- Digital Currency Group owns Genesis, a crypto lender
That’s the same Genesis that lost money 1) after 3AC collapsed and then again 2) after FTX disintegrated.
Genesis owes Gemini $900m now.
That doesn’t do good things for the Winklevii’s fortunes.
That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter (@MilkRoadDaily)
INTERESTED IN ADVERTISING ON THE MILK ROAD?
Fill out this survey and we'll get back to you soon!
A ROADERS REVIEW
VITALIK PIC OF THE DAY
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.