RE: Finance Is Conjectural
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Sticking to your point of NFTs, I actually think a lot of it has to do with people not knowing what to do with disposable income. Given the fees over on ETH it is amazing that people are still continuing to buy stuff over there. Is a specific piece of art really worth millions of dollars? Maybe... I think what is really happening is people bought ETH at like $10 and suddenly it is over $2000. They have all this money just burning a hole in their wallet and they decide to blow it on stuff that might not be valuable to other people. It's kind of a mentality with crypto that when you get a big win you are already looking for the next thing to throw some tokens at.
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I completely agree with you, its all a short term preference mindset that we brought over from fiat and now that we have a new tool, we applying some of those bad habits to this tool, that's why I always say a fiat mindset in crypto won't solve your money problems.
I see it in the junk we eat, we buy, why people will send money on onlyfans accounts its crazy, the money means nothing anymore so we will try to get anything out of it and ascribe value to the strangest things.
Reading the death of money its like so clear that we repeating many of the same mistakes and symptoms of a failing currency like we saw in Wiemar Germany and even during the fall of Rome, the similarities are striking
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Wow, that is a bit scary to even think about. Thankfully I have at least one foot in the "new world"!
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