alberto
January 26, 2022, 11:20am
372
Have you guys seen “Line goes up”? I find it one of the best explanations around technological trends… well, ever. It also meshes well with my own take of the blockchain as sociopathic innovation , which I finally matured in 2021 after a long contemplation and some personal experimentation.
A potential accelerator of this process is a video uploaded two days ago by a man called Dan Olson (@FoldableHuman on Twitter). It’s very long (over two hours), but super well researched, super high production value, super clear without trivializing the issues. As I write this, it already passed the 2 million visualizations. I recommend its use to get a big picture of the all crypto scene 13 years after the famous Satoshi Nakamoto White Paper: from Bitcoin all the way to NFTs.
There are too many insights for a TL;dr, but if I had to pick one it is this: people who participate in the crypto scene (outside of early adopters) are basically the perfect target for scams:
“Barely middle class” – some disposable income.
Insecure – high financial anxiety and FOMO.
No business experience – they don’t think high returns on investment are suspicious.
The combination of money, FOMO and gullibility makes it so that any NFT Discord server is basically “a directory of potential marks”.
This explains a lot.
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