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0 pointsxx511134bz4y ago0 comments

Its an interesting piece, people just reading the comments or commenting on NFTs in general are missing out.

>>[Status symbols] also need alibis, plausible excuses for ownership other than the intentional acquisition of status symbols ... The best alibi for NFTs is that they are an investment ... to cunningly flip later.

So when the market becomes saturated and the ability to flip (aka the alibi) is gone, will the market collapse?

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hermitcrab4y ago

Bubbles keep growing until they run out of suckers. Those who get out before the bubble bursts might make a lot of money. Everyone else will lose the lot. It happened with the South Sea Bubble, Tulipmania, Bernie Madoff, Onecoin and any number of other bubbles/scams.

Isaac Newton, one of the smartest men who ever lived, lost loads of money in the South Sea Bubble.

j / k navigate · click thread line to collapse