The next time you look Matt Damon Also Larry David Or, LeBron James has instructed you to invest in cryptocurrencies or non-fungible tokens (NFTs) now because “luck is in favor of the brave”. Keep this in mind. The original NFT was a tulip, not a token.
Imagine yourself in Amsterdam in the 1630s. No bike cares along the canal and scares tourists like you. There is no marijuana smoke floating on the pedestrian bridge or no junkie lying on the street corner. Fascinating houseboats moored along the canal, recessed storefronts, town houses, and almost everywhere you see, people are exchanging tulips and tulip bulbs for merchandise in the form of currency. Since its arrival in the 1560s, tulips have settled in Dutch life, and Rembrandt, the greatest artist of the time, features a virus equivalent in the 17th century. Painting of his wife; since then, Rembrandt tulip..
But tulip bulbs, do you ask? As a currency?
Of course you are informed, why? In fact, there is no such thing as identifiable intrinsic value. Things are worth the collective comfort we pay for. By the 1630s, speculation about the value of tulip bulbs had shifted from rich entertainment to mainstream for-profit companies.
Charles Mackay saidExtraordinarily popular delusions and crowd madness“At first, like all these gambling enthusiasts, self-confidence culminated and everyone gained.” His 1844 classic, “At first, the demand for weird commodities was” with the rise in tulip stocks. ” It made a lot of money by guessing the decline, buying when the price went down, and selling out when the price went up. ”Supported by scammers and advertisers. Tulip desks have been set up on the trading floors of the Amsterdam, Rotterdam and Leiden stock exchanges.
The whole society has taken food. “Aristocrats, citizens, peasants, mechanics, sailors, footmen, maids, even chimney sweeps … turned their property into cash and invested in flowers.”
When the fever peaked, someone gave “4,600 Florin, a new carriage, two gray horses, and a complete suit of harnesses” to one Semper Augustus tulip bulb (NFT, or non-substitutable tulip in slang at the time). Another NFT single bulb, a secondary tulip, can be exchanged for 4 fat cows, 8 fat pigs, 12 fat sheep, or 1,000 pounds of cheese. After all, what is it? Was it important? They were worth anything that could convince people to pay.
The exception is, well, it’s not. Eventually, when tulip capitalization penetrated the mainstream Dutch economy, McKay said, “I found that someone eventually needed to lose horribly.” They may not have been substitutable, but after all, they were still just tulips.
“A few months ago, hundreds of people who began to suspect that there was something like poverty in their land suddenly noticed some bulb owners that no one would buy … themselves. A few people who devised to enrich their wealth hid their wealth from the knowledge of their followers and invested it in English or other funds … ”
Fortunately, we have recently been constantly reminding us to “support brave people” in the marketing blitz of cryptocurrencies and non-fungible tokens.Matt Damon Compared to investment A great global explorer, mountain scaler, with a code to the risk take of travelers to space; Larry David Pretending to be ignored Those who are not interested in telegraph, lamps and computers and doubt the feasibility of cryptocurrencies.Lebron James Advise his young self Have the courage to go to the NBA and liken that decision to investing in cryptocurrencies.
Good luck may sometimes prefer brave people. But it’s more often reckless and cruel.Think of George Custer order Indict the invisible Sioux. Fateful Boys People sending children to the Crusades. Napoleon or Hitler invades Russia, or Russia’s current criminal misfortune in Ukraine.
Think of your investors Bernie Madoff, EnronAlso Delorean.. Indeed, all the brave people. And they are also broken.
None of the ads soaked in crypto celebrities try to explain what they are and why they are worth it. I don’t think that’s the reason. Try: Go to the internet and ask what you are buying when spending money on cryptocurrencies or NFTs. What do you get for your money? Gets the percentage of “coins” recorded non-fangible and anonymously in the blockchain register. This allows you to make transactions faster. truly?
The best answer you get is Mark cuban gave Regarding the purchase of Dogecoin for his son, he said: it’s not. You essentially want this relentless marketing to convince others to buy, thereby increasing the “value” of the anonymous fraction of the abstract ledger entry.
I am convinced that there is a value proposition in encoding transactions in the blockchain ledger. This value is dangerously exaggerated, completely dependent on social media push marketing, subject to untraceable manipulation, and Dot.com When Subprime mortgage Bubbles are growing big enough to endanger the economic system if not careful.
Tulips also had a valid value proposition. It appears when speculation disappears and continues to this day. You can buy it from HollandBulb Farms. Seven-Rembrandt Light Bulb package. They charge a whopping $ 3.99.
John Farmer Junior Is the director of Eagleton Political Institute At Rutgers University. He is a former Assistant US Attorney, Advisor to the Governor of New Jersey, Secretary of Justice of New Jersey, Senior Advisor to the 9/11 Commission, Dean of the Rutgers Law School, and Vice President and Legal Advisor to Rutgers University.
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