NFT’s are a gambling fad, an extension of the more general crypto gambling fad.
I agree with you to the fullest, very well summarized.
The issue around crypto at the moment is that because it is poorly understood by both the masses and the evngelists (the tech, the economics, and often both) you have a lot of people who don't want to be left out of the "next big thing" and so they've pivoted their careers to convincing people that crypto and related assets are part of a healthy portfolio. This may or may not be true in the long run, but nobody walks around thinking scratchoffs are part of a good portfolio allocation. The same is not true for these other assets, and we've seen in each cycle when people get hosed and lose it all, they are genuinely shocked because they don't view it as gambling.
So many people think gambling is the preferred investment that they’ll not only use all their own available cash and assets, they’ll surreptitiously make use of the cash and assets of their family and friends.
This comment is meant to be only mildly humorous, unfortunately.
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I agree with you to the fullest, very well summarized.
The issue around crypto at the moment is that because it is poorly understood by both the masses and the evngelists (the tech, the economics, and often both) you have a lot of people who don't want to be left out of the "next big thing" and so they've pivoted their careers to convincing people that crypto and related assets are part of a healthy portfolio. This may or may not be true in the long run, but nobody walks around thinking scratchoffs are part of a good portfolio allocation. The same is not true for these other assets, and we've seen in each cycle when people get hosed and lose it all, they are genuinely shocked because they don't view it as gambling.
No no, you’ve got it backwards.
So many people think gambling is the preferred investment that they’ll not only use all their own available cash and assets, they’ll surreptitiously make use of the cash and assets of their family and friends.
This comment is meant to be only mildly humorous, unfortunately.