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Today's edition is brought to you by BitcoinOS — a decentralized operating system enabling seamless integration with Bitcoin's blockchain. |
If you’re a Bitcoin or L2 enthusiast, see what BitcoinOS is all about. |
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GM. This is Milk Road. The newsletter with that dawg in it! |
(We sniff out everything you need to know in crypto). |
Here’s what we got for you today: |
✍️ Build your own millionaire AI agent ✍️ What to watch out for this week 🎙️ The Milk Road Show: Why This Leading Contributor Exited Maker: The Bear Case Explained 🍪 U.S. prosecutors open a criminal investigation against Tether |
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BUILD YOUR OWN MILLIONAIRE AI AGENT 🤖 |
The story of the Terminal of Truths (ToT) AI bot, and everything that has unfolded around it is like a ‘feel old yet?’ meme on steroids. |
Confused? Same. |
Here’s what we’re on about: |
Two weeks ago we wrote a story about ToT – the AI bot that was on track to become the world’s first millionaire AI chat bot. |
Since then, ToT has: |
Become a millionaire Become a multi-millionaire Made up its own girlfriend (pretty sure our social intern did the same thing) Been pitched by Brian Armstrong on Coinbase’s AI-integrated wallet technology Instead asked Brian for the breed of his dog, so it could create a memecoin around it |
…and as of this writing – become a trillionaire? 🧐 |
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Ok, that’s obviously a bogus figure – but the fact that an AI bot can become a multimillionaire in less than two weeks is WILD. |
And the next logical question for many degens in the crypto space is: |
“How can I create a ToT-style bot for myself?” |
Well…big names in the industry are already serving up solutions. That AI-integrated wallet Brian pitched? |
It’s just been made available to the public. 👇 |
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Which means anyone with a brain big enough to train an AI model on how to trade crypto can now give it full autonomy when it comes to: |
Staking Swapping/trading tokens Interacting with smart contracts |
(Something that many speculated ToT was not able to do without human assistance). |
As a result, AI agents (aka: fully autonomous AI bots), have become the hot new narrative. 👇 |
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All within a span of two weeks. |
…feel old yet? |
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| | What’s the one token everyone wants in their portfolio? Bitcoin. 🪙 | How to increase your exposure to the Bitcoin Network? Bitcoin Layer 2s. 🔗 | How to increase the number of Bitcoin Layer 2s? BitcoinOS. 🚀 | BitcoinOS, who verified the first ZK-Proof on Bitcoin, aims to unite crypto back to Bitcoin. Here’s their plan: | Convert Bitcoin Layer 1s into true Layer 2s with trustless $BTC bridging and Bitcoin-level security 🔄 Deploy all Ethereum, Solana, and Cosmos projects to Bitcoin via BOS 🌐 | So if you’re a Bitcoin or L2 enthusiast, see what BitcoinOS is all about. | |
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WHAT TO WATCH FOR THIS WEEK 📅 |
This is one of the biggest weeks in macro, earnings, and token unlocks we’ve seen in a while (maybe ever??). |
Here’s what’s coming down the pike! |
1/ Macro events 📊 |
Consumer Confidence data - Tuesday - A vibe check with consumers. JOLTs Jobs Data - Tuesday - How many job openings are there in the US? US Q3 2024 GDP data - Wednesday - How much economic value was generated in the US economy throughout Q3? September PCE Inflation data - Thursday - How much has the cost of everyday living expenses gone up or down? October Jobs Report - Friday - A report of the total number of workers in the US (minus farm jobs), and their average hourly earnings. |
Ideally we’d like to see: |
US GDP continuing to grow (helping to calm recession fears) PCE inflation continuing to lower (giving folks more disposable income) Consumer confidence moving up (indicating potential continued spending) Unemployment rising ever so slightly (encouraging the Fed to continue lowering interest rates) |
2/ Earnings season 💣 |
Roughly 20% of the top 500 US companies are reporting earnings this week! |
Here’s who’s penciled in: |
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Amazon, Apple, Meta, Microsoft, Alphabet (Google), and Coinbase are all reporting their Q3 earnings this week – keep your eyes peeled to get a gauge on how the tech/crypto sector fared from July through September! |
3/ Token unlocks 🔓 |
Good. Lord. |
$1B in unlocks from one (one!) project?? Jesus, take the wheel my dude! |
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If you’re holding $TIA, we hope you have a long term view, otherwise the potential short-term sell pressure may be responsible for spiking your Cortisol levels this coming Wednesday. |
To quote Ray Arnold, Chief Engineer at a subsidiary of International Genetic Technologies of Palo Alto, CA... |
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This week has a whole bunch of data/events with the potential to move markets, all converging at once! |
4/ Still have questions?? 🤔 |
If you’re a Milk Road PRO member – we have great news! |
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The PRO research team will be hosting an AMA this Wednesday, October 30th, inside the Milk Road PRO Discord (meetup channel). |
In this AMA, we’ll be covering: |
📊 Project and token analysis 📈 Market trends and sentiment 💼 Investment and portfolio strategy 🏦 Macro events and external factors |
Want to join us? It’s the perfect opportunity to get any doubts ironed out and meet the Milk Road research team! | Go PRO to gain access to this AMA, plus: | Full access to the Milk Road PRO Portfolio (updated weekly) Weekly reports that will help you invest successfully in crypto Weekly “Where Are We In The Cycle?” indicators to help you spot the bull market top before it’s too late. Access to the PRO Community, where the Milk Road crew & 100s of fellow PROs talk crypto. 50% OFF the Crypto Investing Masterclass 🤯 | |
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IS IT TIME TO SELL MAKER? |
Chris Cameron, a long-time contributor to Maker, recently sold all of his $MKR holdings! |
And in today’s episode of The Milk Road Show, we’re getting to the bottom of his decision – covering: |
Chris’ contributions to the Maker ecosystem The factors that led to Chris’ change in strategy What would it take for him to reinvest in Maker? |
This is part of a three-part series exploring different perspectives on Maker. |
In later episodes, we'll be joined by Sam MacPherson, CEO of Phoenix Labs and contributor to Spark Protocol – as well as our PRO team, who will share their insights and explain why they remain confident in the project. |
You don’t want to miss it! 👀👇 |
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YouTube | Spotify | Apple Podcasts |
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U.S. prosecutors are investigating Tether for potential violations of anti-money laundering regulations. This news caused Tether’s $USDT stablecoin to slightly de-peg over the weekend. |
A hacker who stole $20 million in crypto from a US government-linked wallet has returned $19.3 million just a day after the breach. The funds that were breached were different stablecoins and $ETH. - DL News |
Japan's Metaplanet has increased its Bitcoin holdings to over 1,000 BTC after its latest $10 million investment. Metaplanet’s total Bitcoin holdings are now worth around $70 million. |
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MILKY MEMES 🤣 |
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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. |