Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.::NFTs had a huge bull run two years ago, with billions of dollars per month in trading volume, but now most have crashed to zero, a study found.

  • eestileib
    link
    fedilink
    English
    arrow-up
    3
    ·
    1 year ago

    I’m just gonna plug The Great Crash 1929 by John Kenneth Galbraith. Really clear, funny, sarcastic writing that is highly relevant here. The kind of economics I wish there was a whole lot more of; the Samuelson program with its assumptions of rationality and perfect knowledge has been a disaster.

    Free at

    https://static.fnac-static.com/multimedia/PT/pdf/9780241468081.pdf

    Mackay’s Extraordinary Popular Delusions and the Madness of Crowds is also a great on-topic read:

    https://www.gutenberg.org/files/24518/24518-h/24518-h.htm

    The chapter about asset bubbles obviously, but there’s also a chapter about the historical catchphrases of London that shows that circlejerk shitposting has always been part of humanity… Yesteryear’s “What a perfectly dreadful hat” is today’s Stroganoff.

    • pomodoro_longbreak
      link
      fedilink
      English
      arrow-up
      3
      ·
      1 year ago

      What is today’s Stroganoff? This is like the third time I’ve heard a reference to Stroganoff this week, but they don’t seem connected, just like everyone’s talking about Stroganoff all of a sudden.