If I might spitball my generally baseless personal theory, it's that Cryptocurrency and NFTs (Especially NFTs), due to their inherent worthlessness, can only increase in value through speculative hype. Unlike a share of stock in a corporation, which is (nominally) tied to real ass transactions and the profits of a company that exists in the real world; The only possible way your completely intangible internet money/picture of a monkey could appreciate in value is if you can convince people that it's the next big thing. Investing in cryptocurrency/nfts essentially REQUIRES you to evangelize about how great they're going to be in the future because with 0 inherent backing there's nothing to actually show value. This is why so many cryptobros act like this shit is the most revolutionary invention in human history and why they make so many absurdly outlandish claims. It's the only way they can get the line to go up
Probably. I don't know, I'm not an economist. I could be making shit up here
Literally all it's useful for. Basically they're doing a Rube Goldberg machine to flip a light switch. We shall create this convoluted scheme of dystopian digital horrors instead of just not seeking rent on stupid pixelart monkeys.
and also... why??? there are no compelling technical arguments for doing so.
If I might spitball my generally baseless personal theory, it's that Cryptocurrency and NFTs (Especially NFTs), due to their inherent worthlessness, can only increase in value through speculative hype. Unlike a share of stock in a corporation, which is (nominally) tied to real ass transactions and the profits of a company that exists in the real world; The only possible way your completely intangible internet money/picture of a monkey could appreciate in value is if you can convince people that it's the next big thing. Investing in cryptocurrency/nfts essentially REQUIRES you to evangelize about how great they're going to be in the future because with 0 inherent backing there's nothing to actually show value. This is why so many cryptobros act like this shit is the most revolutionary invention in human history and why they make so many absurdly outlandish claims. It's the only way they can get the line to go up
Probably. I don't know, I'm not an economist. I could be making shit up here
Nah that's about it
Literally all it's useful for. Basically they're doing a Rube Goldberg machine to flip a light switch. We shall create this convoluted scheme of dystopian digital horrors instead of just not seeking rent on stupid pixelart monkeys.