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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
(markets.businessinsider.com)
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this post was submitted on 21 Sep 2023
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I'm just gonna plug The Great Crash 1929 by John Kenneth Galbraith. Really clear, funny, sarcastic writing that is highly relevant here. The kind of economics I wish there was a whole lot more of; the Samuelson program with its assumptions of rationality and perfect knowledge has been a disaster.
Free at
https://static.fnac-static.com/multimedia/PT/pdf/9780241468081.pdf
Mackay's Extraordinary Popular Delusions and the Madness of Crowds is also a great on-topic read:
https://www.gutenberg.org/files/24518/24518-h/24518-h.htm
The chapter about asset bubbles obviously, but there's also a chapter about the historical catchphrases of London that shows that circlejerk shitposting has always been part of humanity... Yesteryear's "What a perfectly dreadful hat" is today's Stroganoff.
What is today's Stroganoff? This is like the third time I've heard a reference to Stroganoff this week, but they don't seem connected, just like everyone's talking about Stroganoff all of a sudden.
Just a fad going around Lemmy right now. Like the beans, if you were here for that one.
My, what a perfectly dreadful hat.