Due to rampant wash trading in NFTs, it's very possible the seller and buyer in that last transaction were the same person, meaning it isn't a good way to estimate the next transaction.
The key players in NFTs are nearly all the same wash trader cartels who perfected this scam when it appeared in its 2014-2017 incarnation, as the ICO craze.
Same exact pseudo-anonymity obscured circular transaction mechanics (pump your shit token price under the low volume radar by selling over and over between your 5 or 10 sock puppet alt accounts, then blast soc media to lure the clueless FOMO money) except the old 3 or 4 letter ICO ticker symbol identifier is merely a longer sequence of characters: a URL pointing to a jpeg.
You've created a totem there, and it's led to a lack of compassion.
Those 'crypto bros' may be nice, well-meaning people. Perhaps parents that thought they needed to get onto the bandwagon to set their kids up for life. Perhaps some kids that thought it was a sensible investment. Perhaps some desperate people that thought they might finally get a break.
How about some 'peace and love' mentality, rather than revelling in other people's losses?
I don't own any NFTs but I shall empathise with those who do.
People, even ones who wanted to "set their kids up for life" acted out of greed, and the promise of easy money. I'm not sympathetic to people who fall for get-rich-quick schemes, it's not surprising most people aren't
Stupidity is stupidity, whether well meaning or not. I have zero sympathy for those who walk into a casino with zero research, and still expect to beat the house.
We appear to differ there, in that I believe ignorance deserves compassion.
(Even deliberate ignorance / anti-intellectualism).
You and I try not to be ignorant only because we were lucky enough to have the opportunities that gave us this view. And despite wilfully trying not to be ignorant in life, I still am.
People that strive for rationalism and knowledge are lucky to be able to want to.
People are unlucky/helpless in being ignorant, no matter how intentional their ignorance may be - I would make this case at every level - right from these abstract situations, down to the fundamental concept of free will / determinism.
Anyway, this comment is just me musing, I'm not trying to drag us both into a debate:)
18 comments
[ 1.2 ms ] story [ 41.3 ms ] threadSame exact pseudo-anonymity obscured circular transaction mechanics (pump your shit token price under the low volume radar by selling over and over between your 5 or 10 sock puppet alt accounts, then blast soc media to lure the clueless FOMO money) except the old 3 or 4 letter ICO ticker symbol identifier is merely a longer sequence of characters: a URL pointing to a jpeg.
How about some 'peace and love' mentality, rather than revelling in other people's losses? I don't own any NFTs but I shall empathise with those who do.
You and I try not to be ignorant only because we were lucky enough to have the opportunities that gave us this view. And despite wilfully trying not to be ignorant in life, I still am. People that strive for rationalism and knowledge are lucky to be able to want to.
People are unlucky/helpless in being ignorant, no matter how intentional their ignorance may be - I would make this case at every level - right from these abstract situations, down to the fundamental concept of free will / determinism.
Anyway, this comment is just me musing, I'm not trying to drag us both into a debate:)