3 ms·
When you buy stocks, you think you're buying a share of a corporation. It sits in your brokerage account. Now you've traded money for "something" you can't touc
by coralreef 5y ago
When you buy stocks, you think you're buying a share of a corporation. It sits in your brokerage account. Now you've traded money for "something" you can't touch.
The existence of your stock ownership depends on a legal and social framework to exist. If the government was overthrown and you were exiled tomorrow, you have nothing. If an asteroid destroyed half the earth tomorrow, and you survived, you still have nothing.
You take for granted the systems in which you live and function in. There are many things we "own" and cannot touch, yet they are as real as anything. The money in your bank account is an example of that. It has value, you own it, but if we are stranded on a deserted island with no electricity or wifi, it ceases to exist to us.
- antifa 5y ago> There are many things we "own" and cannot touch, yet they are as real as anything. That's a great metaphor, but the issue is that NFTs are an order of magnitude more fake than stocks, money, etc.
- coralreef 5y agoYou should qualify what "more fake" means and how.
- chinathrow 5y ago> The existence of your stock ownership depends on a legal and social framework to exist. That's true for most things we own these days, and it works quite well.
- coralreef 5y agoIt does, and it will always be needed for the physical world.