3 ms·
Dear lord, I'm gonna have to agree with Bill Gates of Micro$soft fame? Feels bad man. Bill is correct... to a point. The logic of "greater fool theory" works
by dontbenebby 4y ago
Dear lord, I'm gonna have to agree with Bill Gates of Micro$soft fame? Feels bad man.
Bill is correct... to a point.
The logic of "greater fool theory" works for collectibles like... a Steve Ballmer bobblehead that yells "developers developers developers" when you insert some batteries into a comically located receptacle and press a button, not things that go into people's retirement accounts.
(Unless you want people to literally go full Bellum omnium contra omnes[1] because they feel the social contract[2] has been irrevocably broken, and land a duckboat[3] previously used to give tours to tech bros on your private island)
:-)
[1] https://en.wikipedia.org/wiki/Bellum_omnium_contra_omnes#Thomas_Hobbes'_use https://en.wikipedia.org/wiki/Bellum_omnium_contra_omnes#Tho...
[2] https://en.wikipedia.org/wiki/Social_contract#Thomas_Hobbes'_Leviathan_(1651) https://en.wikipedia.org/wiki/Social_contract#Thomas_Hobbes'...
[3] https://en.wikipedia.org/wiki/DUKW#World_War_II https://en.wikipedia.org/wiki/DUKW#World_War_II
- smt88 4y agoThere is no difference between the collectible bobblehead and the NFT. Either can "go into someone's retirement account," and both are only valuable because you expect a greater fool to come along. Except the NFT is worse because it's just a URL, not even something you can uniquely own.