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> You don’t own the picture of the dog, you don’t own 20% of the picture of the dog, it is just, like, you come in every day and someone is playing a new weird
by jscottmiller 5y ago
> You don’t own the picture of the dog, you don’t own 20% of the picture of the dog, it is just, like, you come in every day and someone is playing a new weird game and you try to get the high score in today’s game and tomorrow will be a different game.
Say what you will about crypto more broadly, but this is a wonderful perspective on these sort of flash-in-the-pan financial manias.
- Applejinx 5y agoThis is finance, writ large. Understanding that is important, especially now. And it's a bad thing because there's serious undesirable consequences to it, but understanding the reality of it is still important. Just because it's a hallucination doesn't mean those in the physical world aren't affected. Crypto just makes it more explicitly a hallucination.
- NovemberWhiskey 5y ago>This is finance, writ large. Please explain; it's not my experience of finance.
- tomp 5y agoIt's funny... I listened to a "crypto podcast" the other day... They were chatting about some new, emerging currencies, and how they try to "incentivise" people to hold/trade/use them (e.g. by providing high, double-, even triple-digit yields), I guess that's the only way to achieve any kind of adoption these days. Literally industrialized and scaled Ponzi.