The Crypto Thread

no clue. i’d assume the biggest sales should be done off OS (hence those transfers) but i’m pretty clueless

Died

$5.8 million

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https://twitter.com/boredapebot/status/1477491344994091008

Damn. I like the $2.3M royal psychedelic ape a lot better.

Oh hey this one does have a buy now.

I never bid on ebay because I’ve never won an auction once (another game I suck at). I only do buy now.

Just buy both and make yourself a royal psychedelic mutant.

Sounds good. Can I get a smart contract backed by future sales of my book?

Probably because you keep repeating it but it’s not clear at all what you think “it” is.

Is Bitcoin a bubble? It’s down 35% from ATH.

Is Ethereum (also down 35%) a bubble? Which part? The native token? The other tokens issued on it? The blockchain itself? The Dapps that run on it? Which ones? All of them?

Are the alt chains a bubble? Which ones? Just those that shot up last Spring and Fall? All of them? How about the promising new ones with tiny market caps?

Are all NFT’s a bubble? Some? Just PFP’s? Digital artwork? Gaming assets? Future proof of ownership concepts not yet realized?

Is the nascent world of blockchain gaming a bubble? Seems like it’s just getting started to me.

Are the specialized chains targeting specific use cases a bubble? Which ones? Global settlements? Mobile payments? Digital identity? Privacy? Oracles?

Are alt coins a bubble? Stablecoins? Shitcoins drill to zero in days or hours. Meme coins derive their value precisely from the joke that they have no use or value.

You constantly dismiss all of this with a hand wave. I think you’d get a lot less pushback if you showed a better understanding of how large and diverse the crypto world is and then took the time to explain precisely what parts you think are a bubble and why.

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Of course I don’t have an opinion on all that stuff. Why would I? Do you think the normies sending BTC to the moon have an opinion on all that? If it’s pulled in NBA stars and the like, and speculators looking to make a quick buck, then that would be a good candidate for a bubble imo.

WHAT would be a good candidate for a bubble? What is it you think you are talking about? This is kind of important.

Is it ok to think capitalism as a whole is a bubble?

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It ticks all the boxes

Well there ya go. Heres to the end of the world then

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How many cans of beans is rainbow toothed ape gonna get ya?

In fairness, if “crypto is a bubble” is a handwave that needs thirty follow-on questions, surely “capitalism is a bubble” is also a handwave that needs more specifics.

. https://opensea.io/collection/boredapeyachtclub?search[sortAscending]=true&search[sortBy]=PRICE&search[stringTraits][0][name]=Mouth&search[stringTraits][0][values][0]=Grin%20Multicolored&search[toggles][0]=BUY_NOW

did you buy it for 70 eth two months ago?

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Suzzer has convinced me. I’m spending every dime I have on cryptokitties

That’s actually a pretty good analogy. I can (and do) think that capitalism as it currently exists, particularly in the US, is fundamentally flawed and doomed to a painful reckoning at some point, while also thinking there is a lot of benefit from market economies and that they can be beneficial if tamed. There is potentially a lot of interesting discussion based on the latter half of that.

Similarly, I also can (and do) think there is a lot of frothy hype around many crypto projects and that most of them are doomed to failure, while also believing that the unprecedented amounts of time, money, and passion devoted to many of them means it is inevitable that some will be successful, perhaps wildly so. There is potential for good discussion there as well, but you need to move a bit beyond “ponzi” and “tulips” to get there.

I can also financially profit from both situations in the near term if I play my cards right.

But surely it’s reasonable for you to say “there is a lot of frothy hype around many crypto projects and that most of them are doomed to failure” without me demanding that you answer dozens of questions about specific crypto projects. I don’t think you and suzzer are really that far apart on this matter, to be quite honest.

Like I said before - BTC dropping 90%+ and never coming close to old highs would pretty clearly indicate it was in a bubble to me (and most people). Ironically at that point it might begin to function as a currency. But maybe BTC’s blockchain is too bloated and inefficient for that and something else will be better as a currency.