this post was submitted on 21 Sep 2023
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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

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[โ€“] [email protected] 7 points 2 years ago

Clever assholes convinced fools that they had "the next big thing". The "smarter fools" realized the problem and offloaded their losses onto greater fools, a considerable portion of which are now wondering how to catch an even greater fool than themselves.

[โ€“] [email protected] 7 points 2 years ago

๐Ÿ‘จโ€๐Ÿš€๐Ÿ”ซ๐Ÿ‘จโ€๐Ÿš€

[โ€“] [email protected] 6 points 2 years ago (7 children)

Bored Apes Yacht Club is run by nazis prove me wrong

[โ€“] [email protected] 5 points 2 years ago (1 children)

Don't know, don't care. NFTs are a scam, and that's enough reason for me to avoid them. Well, that and the art is fugly.

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[โ€“] [email protected] 6 points 2 years ago

shocked Pikachu

[โ€“] [email protected] 6 points 2 years ago (1 children)

What happened to the influencer guy. He started out selling alcohol or something and then had random videos where he bamboozes someone doing a house clearance and got excited for making 36 dollars off a box of toys, then went on to shill the ever fuck of fungible tokens, it's the future.

Gary z? Gary V?

[โ€“] [email protected] 5 points 2 years ago

Don't spread knowledge of grifters, the sooner they fade out of collective memory the better. The opposite gives them views and helps them.

[โ€“] [email protected] 5 points 2 years ago

not f'n there

[โ€“] [email protected] 4 points 2 years ago

I will sleep well tonight.

[โ€“] [email protected] 4 points 2 years ago
[โ€“] [email protected] 4 points 2 years ago
[โ€“] [email protected] 3 points 2 years ago (1 children)

I'm just gonna plug The Great Crash 1929 by John Kenneth Galbraith. Really clear, funny, sarcastic writing that is highly relevant here. The kind of economics I wish there was a whole lot more of; the Samuelson program with its assumptions of rationality and perfect knowledge has been a disaster.

Free at

https://static.fnac-static.com/multimedia/PT/pdf/9780241468081.pdf

Mackay's Extraordinary Popular Delusions and the Madness of Crowds is also a great on-topic read:

https://www.gutenberg.org/files/24518/24518-h/24518-h.htm

The chapter about asset bubbles obviously, but there's also a chapter about the historical catchphrases of London that shows that circlejerk shitposting has always been part of humanity... Yesteryear's "What a perfectly dreadful hat" is today's Stroganoff.

[โ€“] [email protected] 3 points 2 years ago (2 children)

What is today's Stroganoff? This is like the third time I've heard a reference to Stroganoff this week, but they don't seem connected, just like everyone's talking about Stroganoff all of a sudden.

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