Greetings fellow DailyCoiners!

Congratulations on (almost) making it to the weekend.I hope you have a plethora of magnificent adventures planned.(or, like most of us, errands, housework, and napping!)

It’s been an interesting week. We’ve seen glimmers of hope for the markets, a fair few project launches, and as always, a healthy dose of FUD.

For now, though, let’s cast our satirical, yet informative eyes over three stories that tickle our fancy.

Today’s newsletter is brought to you by the letter “D”.

Welcome to “

Dinosaurs, Dimwits and the Decaying

”

• Charlie Munger shouts into the void.

• Logan Paul is being sued and backtracking.

• Web2 players on a Web3 playing field.

The Dinosaur

By dinosaur, I don’t mean the big and scary kind, more the “Really? How are you still here?” kind.Yes, I’m talking about Charlie Munger!

Grumpy old white men strike again! It’s no surprise that the vice chairman of Berkshire Hathaway, a company with a firm hand on centralized old money, wants to ban crypto.That’s kinda the point of decentralization, right? Remove the power of the crusty men in crusty leather chairs.

We must be doing something right, but, for context, let’s look at his comments:

“What should the U.S. do after a ban of cryptocurrencies is in place? Well, one more action might make sense: Thank the Chinese communist leader for his splendid example of uncommon sense,”

So, an American investor thinks we should copy the communist Chinese leader? Sounds a bit like someone’s clutching at straws to make their argument…

(on Bitcoin) 

”It's a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity,”

Hmm, I wonder if there’s a conflict of interest somewhere. Oh, that’s right…

85% of Old Charlie’s wealth

is mainly locked up in banks and traditional finance.

You know, the very thing being threatened by Bitcoin, crypto, and DeFi.

Could that be fear talking?

The Dimwit

Yes, I speak of no other than the “boxer” for hire, Logan Paul.We live in an age where we are infected by “influencers”, trying to crowbar their way into wealth and gain their 15 minutes in the sun.

During the NFT explosion of 2021, many influencers were recruited (or hoodwinked) into promoting projects that ranged from totally legit to out-and-out scams.

“Celebrity money collector”, LP promoted the CryptoZoo NFT-based game, and his followers swallowed it hook line, and sinker, spending millions in the process.

​​

"

For the last six months, I've been working on my own NFT project,

" he said on

, stating the NFT eggs were "

handmade art

" and would feature in "

a really fun game that makes you money.

"

$2.5 million worth of eggs were sold on launch day for around $300 each. When they hatched, users commented that they looked like “Adobe stock images, mashed together”.

The project was a

scam

.

LP has since promised to refund everyone who lost money on the project and that he was taken advantage of by bad actors.

To me, it sounds like someone is trying to save face by playing dumb. A case of locking the barn door after the horse has bolted.

The Decaying

2022 was a tough year for Web3 startups, many of which fell foul to the bear market conditions, and lots of crypto people got laid off.

Dark times indeed.

However, there seems to be a trend of Web2 legacy companies (e.g. HSBC and eBay) snapping up the jobless pioneers in an attempt to stay relevant.

British multinational bank HSBC has posted an advert looking for a

Product Director in charge of tokenization

and early e-commerce giant eBay are hiring for various positions, to further their NFT marketplace proposition.

What do we think of these companies entering the Web3 arena? 

Should they stick to what they know and die quietly or welcome them with open arms, knowing that good players and good players regardless, that with them they bring millions of new customers and mass adoption?

Interesting question right, I’d love to know

your thoughts

.

DailyCoin Meme

This one’s for you, Charlie!

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On that note, I’ll leave you to your weekend. If you want to spend your time diving into more crypto news and insights, there's always more on our website.And feel free to reach out to us at [email protected] with any questions or comments.

Until next time,DailyCoin Team