Shitcoin Newsletter #136 - Rekt and Rugged
We woke up today with news of a proposed 43% capital gains tax for the Americans amongst us. If that got you worried here is Michael Saylor with his previous response. You’re welcome.
On top of that news, markets tanked. We can only imagine how much this resonates with some of you right now.
It’s quite evident that this crash is Cobie’s fault.
He’s a trooper and long time bag holder. He’ll get it all back.
This week also saw some strong FUD from Nassim Taleb. He is really doing a good job of making Bitcoiners dislike him.
As is this guy. What an absolutely diabolical registration plate.
Papa Smurf McCormack (great nickname) has a new whip which is much more up to our liking. This one was bought with the gains from a bank loan gone right. Great work Peter!
Whatever happens in this shitshow of a market there’s one things that’s certain, it’s not about what you yield. It’s not about how hard your shitcoins pump. It’s only about the frens you make along the way.
To a rug of epic proportions. The founder of a Turkish crypto exchange has run off with $2bn on his client’s funds and fled to Thailand.
We would take a stab that the Turkish guy isn’t going to be giving any of that away if he can help it. Bloomberg think philanthropy is going to be on the rise though.
One crypto billionaire is already on board. Sam Bankman-Fried is all over this. He’s always talking about effective altruism.
In case you were wondering here is where he makes all of his money. Sick setup bro.
We are also happy to report that his afro is catching on in Japan!
For this years’ 420 the world decided that it was time to pump Doge. It got up to around 41c but has quickly fallen with everything else. Arguably a little harder. Anyway, here are some of the best bits.
We were happy to see the next generation of “investors” from TikTok were in on the action too.
Traditional finance spectators have been in awe. It was GME all over again. However, here’s an interesting article from New York Magazine titled “There’s Nothing to Do Except Gamble Welcome to the non-fungible, memeified, cryptodenominated, degenerate future of finance.” It’s an interesting read. What have we done?
To some FUD. Environmentalists are calling out Bitcoin mining again as it could lead to “dozens of fossil-fueled plants”. Sigh.
Meanwhile, Chris tried to deflect focus from Ripple by getting involved in Earth Day conversations.
To lighten this one up at the finish, we bring you this week's NFT Debris. Here we round up some noteworthy (and often wacky) NFT drops from the past week!
Check out the full collection here on OpenSea!
Edward Snowden has also spun up an NFT which sold for more than $5.4 million. Nice!
We round this one off with the world's first immersive NFT installation. The Quantum Mirror is an infinity room with 150 interactive mirrors that display NFT's based on touch. This is some ground-breaking shit!