Friday, January 28, 2022

"The claimed functionality and the actual functionality are both bad." -- Everything you always wanted to know about NFTs but were afraid to ask




And I do mean everything. This video by Dan Olson is basically two hours and change of a guy sitting at a desk talking, but it's good talk -- well written and smoothly delivered -- and given the complexity of the topic and the depth and insightfulness of the analysis, there's almost no fat to be trimmed here.  After it gets going, it's also surprisingly involving. Though I had other things to do, I kept telling myself "just one more chapter."

I first heard of this from Stephen Diehl. (I first heard of Stephen Diehl from the Financial Times. I already knew about the Financial Times.) With anything crypto related, Diehl's opinion carries a lot of weight.


Here's one of many sharp quotes from Olson:
"The one market crypto currency has successfully disrupted is the market of fraud. ... A big population of people have willingly self-identified that they have substantial disposable income, poor judgement, low social literacy, a high tolerance for nonsensical risk and are highly persuadable." 

If you're just not a video person, Olson provided a reading list. I'd add Jemima Kelly and Jamie Powell of FT Alphaville.

1 comment:

  1. Dan Olson other video on Flat Earthers is another great documentary
    https://www.youtube.com/watch?v=JTfhYyTuT44&t=1s

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