https://finance.yahoo.com/video/nft-projects-getting-obliter…
Take with salt the word “obliterated”.
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NFT sales fell to 25,000 last week, an 80% drop from the peak last fall. Now Morgan Stanley's warning more pain may be in store for investors of digital assets. For more, let's bring in Gannon Breslin [Drop Founder & CEO]
**GANNON BRESLIN: No, they don't. No, they don't. I don't think numbers look get anywhere.**
Of course. How silly. How could “numbers” get you anywhere?
Passenger on then Titanic: “Captain, 80% of the ship is underwater!”
Captain: “There you go again looking at numbers.”
Take with salt the word “obliterated”.
Oh I don’t know, an 80% slowdown in business is pretty much the definition of obliterated.
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NFT sales fell to 25,000 last week, an 80% drop from the peak last fall. Now Morgan Stanley’s warning more pain may be in store for investors of digital assets.
Wow, no one saw that coming!
AW
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Money and other tokens of value began life as physical barter assets with real value to most people – gorgeous metals, sea shells, etc., and then were quasi-magically transformed into tokens of exchange by means of a mix of “religious” and “tribal/political” style beliefs that are still prominent to this day; Heads is the face of the magical sovereign and tails of the blessing deity(ies).
Cryptocurrencies seem to me to have a magical allure as well, but only of a far less durable “sci-fi fan in Silicon Valley fever dream abetted by mescaline” sort. I think the plot is growing stale, the dream is veering towards wakening, and the mescaline is just about metabolized.
Time for coffee!
david fb
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Wow, no one saw that coming!
AW
yep but talk about swinging wildly....the dow is up around .75% at this hour....Eth is up 2% roughly.
The monthly average units of NFTs sold was what in that 1 million. The explanation of Other Lands sucking the oxygen out of the room made sense. But that was the bottom of some of the trends for the little guys.fb,
thinking…
barter >> religions
fiat paper >> philosophy
cryptocurrencies >> scientific math
No one trusts any of them or anyone completely…has anything changed?
Of course. How silly. How could “numbers” get you anywhere?
Passenger on then Titanic: “Captain, 80% of the ship is underwater!”
Captain: “There you go again looking at numbers.”
Take with salt the word “obliterated”.
Oh I don’t know, an 80% slowdown in business is pretty much the definition of obliterated.
Goofy,
And here I thought the drama was in the Crypto market.....
You will note the Titanic is unlike Eth. Eth goes up and down, and back up again.
Obliterated? Well Eth right now is up 2% something like verging on 3 deviations against the Dow. Has the Dow had a massive stroke? LOLleap
thinking…
barter >> religions
fiat paper >> philosophy
cryptocurrencies >> scientific math
I doubt philosophy had much of anything to do with fiat paper except perhaps stoicism, and that was ancient. Paper became fully acceptable and at times and places even preferred money through two processes
-
habit from forcible use in Britain during the Napoleonic Wars and USA during Revolutionary War and Civil Wars when the holders of paper did great over the long haul. Hamilton’s genius and anticipation of modernity shown here at its highest level.
-
association of “good paper” with stable imperial might, because only stable imperiums have the power to maintain the value of paper money creditably in modern history.
Both 1 and 2 are primarily religious modes of acceptance – habitual use echoes relgious liturgies and dogmatic statements, and imperial might has always been a sign of the approval of the gods and the mandate of heaven.
Almost nobody, including philosophers, lives by philosophy.
As to scientific math? Hah! As you know all too well, science and math are for cucks and dorks and geeks, not homo economicus as found “in the wild” as opposed to textbooks.
Humans are an irrational culturally based species, and by whatever name you want to call it (true church, civil politesse, patriotism, secular enlightenment…) RELIGION has been the crux of the game since the first ziggurat went up above irrigated fields in Ur.
Money worship has been and remains centered on the Benjamins since the onset of WWII.
david fb
david fb
fb,
You used the word that nailed it on my >> >> >>
“Culture”
The >> >> >> are parallel to our cultural development.
To have Crypto you need science.
To have fiat you need Locke and Hobbs.
cryptocurrencies >> scientific math
The math is unquestioned.
Assigning it an economic value is where the magic comes in.
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The math is unquestioned.
Assigning it an economic value is where the magic comes in.
Excellent point! Back up the truck? LOL
It is pure speculation that wont go away.
I am not interested at my age in holding any of it. I am in this with NFTs to profit it off it. I am in it to honestly sell my wares.