[jscottmiller]

> 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.

[tomp]

It'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.

[mfDjB]

Which one?

[tomp]

https://podcasts.apple.com/gb/podcast/mofi-consensus-art-blo...

[Applejinx]

This 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]

>This is finance, writ large.

Please explain; it's not my experience of finance.