Maximalism Works, NFTs Don't - E241.1


Member video version: https://bitcoinandmarkets.com/e241-1-video/

The second of two episodes this week is on Clown World topics like Ripple's Garlinghouse complaining that Bitcoin Maximalism is working in DC, and the implosion of the NFT delusion. You can see the original content in the newsletter, issue #188 of the Bitcoin Fundamentals Report.

Clown World

Brad Garlinghouse of Ripple infamy, claimed that tribalism in crypto is muddying the messaging in DC. Well, good.

He's making the argument that Bitcoin's expert technical and monetary arguments, and our insistence on showing empirical evidence of the past 10 years in the industry of scam after scam properly diagnosed by these arguments, is turning regulators against altcoins.

Ukraine bans bitcoin 2 months after making it completely legal. Yet another example of Ukraine's government exposing its true nature.

NFTs are Silly

I use the recent event of the failed auction of Jack Dorsey's first tweet, the first tweet ever made, to demonstrate the delusion of NFTs.

The owner of this NFT bought the token for $2.9 million last year and thought he'd be able to get $48 million now. LMAO you can't make this stuff up.

NFTs are nothing more than a digital signature in pseudo-control of a token. A token that is not the object in question, in this case, Jack's tweet. That tweet lives on Twitter's database (and the database of many archive sites), it does not belong to the digital signature or the token. They are two completely separate things.

What the token owner has is pseudo-control over a made up concept, a delusion if you will, that the token represents that outside object. I say "pseudo-control" because it can be revoked by the system admins, and has on many occasions in the history of NFTs.

A


Get The Bitcoin Dictionary!

Bitcoin jargon demystified. Over 180 Bitcoin terms, concepts, and idioms.

http://bitcoindictionary.cc


The Best Free Bitcoin Newsletter!

Don't miss another issue. Subscribe to the Free tier!


Subscribe to the Pod!

iTunes  |   Stitcher   |  Google Pods  |  YouTube  |  Soundcloud  |  RSS


The Show Needs Your Support

Become a paid member!

We’re a small operation and producing quality content people find valuable.

Check out our big list of ways to help the show

Affiliates


Have Feedback? All feedback is welcome!

**DISCLAIMER: This is not investment advice, do your own research.**

You've successfully subscribed to Bitcoin & Markets
Great! Next, complete checkout for full access to Bitcoin & Markets
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.
Press ESC to close.

0 results found in this keyword

Great! Check your inbox and click the link to confirm your subscription
Please enter a valid email address!

© Copyright 2020 Bitcoin & Markets