Crypto Goes Nuts
Recently I've run across some news. The news was interesting enough to overcome my usual laziness and to launch me into some thinking. And my train of thought finally arrived at the idea that the cryptocurrency sphere is gradually going nuts nowadays.
Grayscale just announced yet other crypto funds -- BAT, LINK, MANA, FIL, and LPT. For quite some time there were rumors on the internets that after the "established" BTC, ETH, LTC, etc. "the institutions" would go deeper into various shit. Now it looks like they actually started buying it. With other people's money, I presume. It looks like Mr. Saylor would like to launch funds for all the shit available at the market. Well, after all, why not, if people are ready to pay him for it? It seems that Morgan Stanley thinks the same way, "we will help our valued customers to buy any shit they want, for a quite affordable fee". So thinks Christie's probably.
Interestingly, I noticed that after Grayscale's announcement BAT was pumped quite nicely, while MANA didn't move much. I wonder what is so special about a Chrome clone browser with a built-in AdBlock, incentivized ads delivery, and a defaulted KYC-ing payment system? Well, probably Mr. Saylor knows it better. Personally, I think MANA is lagging behind BAT now because it has already been pumped quite well during recent NFT hype.
I'm not an NFT fan and I have only a couple of free NFTs which I got from airdrops. Also, I have been affected by the recent NFT mania only so far as to spend a penny for some NFT-related tokens (e.g. the above-mentioned MANA). I didn't dyor any of them, just had a look at charts. Neither I know much about the theories behind NFT.
However, recently I run across a very interesting article about NFT. I wonder if the guy who paid about 65'000'000 bucks at Christie's for some Beeple NFT shit actually understands what exactly he has paid for. At the moment for me it looks like he paid 65 million bucks for an URL to a file on a publicly available web-server. Yup, it looks like this very link (a 304 Mb Jpeg file!) is the very $65M-worth image. Right click on it, choose "Save as", and voilá -- you have it for free! Well, maybe if we calculate SHA512 of MD5 (or something alike) of the downloaded image, we'll get some figure which proves our downloaded file is a "counterfeit". Honestly, I don't know. I only wonder if I breach any copyright laws if I download such NFTs or simply look at them for free, without "owner's" permission...
Well, whatever, nevermind.
I'd only say that today when I look at crypto news feeds watching crypto going nuts all over the place, it makes me believe that winter is coming -- a sudden and pretty cold one. But not today, of course. I believe we still have weeks or even months of green fun ahead of us. Those who managed to buy any expensive image URLs, Crome-cloned browsers tokens, "governances" in backdoored projects, shares in DeFi-ish ponzis, etc. should have enough time to unload it all on other guys.
Posted Using LeoFinance Beta