[matheusmoreira]

> I'm not stupid enough to make money in this market

> What are all the stupid people going to pile in on next so i can get in and out before it crashes?

Haha that's awesome. I spent so many hours researching stuff to invest in so I could make a good decision or at least an educated one. Company stock, cryptocurrency projects, whitepapers... And then I watched people making ridiculous amounts of money off of DOGE of all things just because a billionaire tweeted funny dogecoin memes. Then people pumped the huge wave of animal shitcoin scams that came after to ridiculous prices as well. Now I'm watching people spend millions on non-fungible tokens that do nothing.

It's the kind of mind screw that makes you lose all sense of right and wrong. The world just stops making sense.

[sirsinsalot]

I mean it's what happens when entry barriers to "invest" are low enough and you have meme marketing. Everyone in the middle of the bell curve piles in and things of average reasoning happen. A bit like football making billions from people watching some people kick a ball about. You can monetise the banal with fun.

[musicale]

> football making billions from people watching some people kick a ball about

Presumably ritualized tribal combat has a long history.

As does religion.

[sirsinsalot]

And collecting trinkets

[xwolfi]

Nah, it's a common story. When electricity and physics-based innovations started in France, people were so enamoured with novelty they started believing in anything remotely associated.

Hence magnetism and homeopathy, still limping along to this day, came to have huge amounts of followers. "if you can turn on a powerful light at night, surely you can cure with magnetic fields coming out of your hands".

Here is the same, if you can store value simply by convincing each other without central authorities (bitcoin), surely you can explore it to its conclusion with NFTs. Ill remind you that before the 2017 crash, we were already seeing joke tokens, it just disappears once the hangover starts.

[matheusmoreira]

> if you can store value simply by convincing each other without central authorities (bitcoin), surely you can explore it to its conclusion with NFTs

Cryptocurrency has actual value though. I don't think bitcoin has any inherent value, it's just famous because it came first. Technology like Ethereum and Monero are extremely valuable though. They aren't made up tokens that do nothing.