31–40 of 670 posts
We have created a culture where quick money gets celebrated and regular work doesn’t pay off anymore. It’s no surprise that people get sucked into get rich quick schemes.
It's less that I'm glad the market is crashing, and more that I'm glad that the insufferable crypto bros are finally getting a punch to the mouth. Seriously, these people are the worst. Your average "crypto investor" has no skills, no mathematical foundations, nothing. Except for pure stupid luck, and the ability to spew inane crypto babble 24/7. And yes, they think they are much smarter than you, because they achiev…
NFTs are basically tulip mania and beanie babies all over again. I've been wondering when it would crash, didn't expect it to happen this quickly. NFTs i mean.
Did anyone actually buy NFTs or was it just a bunch of people saying "this is worth X"?
Both the primary and secondary market were very active with distinct identities. The primary market (buying collections directly from a new issuer) is still okay right now. The issuers are still making a lot of money.
The secondary market’s “floor price” concept is manipulated by the crowd, as with all collections outside of the NFT space as most individual pieces never got a bid to begin with. You hear one piece sold and you try to sell yours at the same price, so does everyone else.
While I experience some small schadenfreude over the situation for a wide variety of reasons, my hope is that this will finally bring GPU prices back to some semblance of normalcy. However, this is not my expectation. Partially that is because of continuing supply issues everywhere, but also because now that cryptobros have driven the prices so high we've reached the "that's just what it costs" stage on $1000+ GPUs.…
I'm glad that a long overdue reality check is coming. But I'm incredibly sad that many, many small fish will lose their entire life's savings in the hours and days and weeks ahead. I've already seen random social media postings of attempted suicides, or talk of it. We will lose actual human beings in this. And, what's worse, is that the real grifters and crooks will walk away clean once again. There isn't enough time…
I blame Congress and the SEC, they’ve had plenty of time to regulate the crypto casino but they have not done so. Now people will suffer.
Especially the co2 concentration in our air, wild fires, droughts etc.
I'm looking forward to burning less resources for just hashes.
I'm also getting tired of having the same fruitless discussions.
There are a lot of people who have never thought about a ton of implications of crypto.
Real issues are ignored, unknown, or just never even mentioned.
I'm glad that a long overdue reality check is coming. But I'm incredibly sad that many, many small fish will lose their entire life's savings in the hours and days and weeks ahead. I've already seen random social media postings of attempted suicides, or talk of it. We will lose actual human beings in this. And, what's worse, is that the real grifters and crooks will walk away clean once again. There isn't enough time…
It’s always the little guys who lose their shirts. The big guys who caused the problems get celebrated.