Hard to grasp a $39,000 BTC towards which the majority is fearful right now, but that's what the fear and greed index is saying. The plebs are always wrong, always late and most often on the other side of profits. The world is in continual change and technology has played an important role in shaping humanity the past few decades.
I bet just a few were imagining back in the days that at some point people would literally pay hundreds of thousands of dollars for some crappy jpeg image called NFT. They did, though, bought such crap and we've only scratched the surface with the NFTs so far. Wait till they start having utility and recognition in metaverses.
Elon Musk doesn't seem to get the tech behind NFTs either, same as many didn't see value in Amazon or eBay just a few decades ago. I see the value of the concept, but still wouldn't pay hundreds of thousands of dollars on an ape NFT even if I had them. Maybe some in game ones at some point...
"I dunno … seems kinda fungible"
That was Elon Musk's tweet of a couple of hours ago soon after he changed his profile pic to a collage of BAYC NFT pics. Imagine some have paid hundreds of thousands just for one image :). Gary Vaynerchuk made a great analogy regarding Musk's logic by saying: I can take a pic with a Ferrari in the background, but that doesn't mean it's mine.
You know what? He's right and that's what sets an NFT apart from a simple downloadable jpeg image. NFTs, as their name says it are non fungible and somehow are the ultimate form of ownership we can currently have online, or lets say some of the forms of ultimate ownership we can currently have online.
NFTs are not a fad... although 22+ Bored Apes have been sold in the past hour since Elon Musk changed his pfp. APE coin, which I own some as well, has experienced quite a bit of volatility today going up after Elon changing is pfp just to dump when he's got in with the tweet, but NFTs are here to stay. Even Vatican will create an NFT gallery to democratize art. The pope got "orange pilled" as well ;).
At the beginning there was Bitcoin... and Bitcoin was finally acknowledged by Joe Rogan lately with him saying that he sees Bitcoin as the early internet and that it has also gained utility for the past years aside from just speculation interest coming from investors and traders. There's this app called Moon that I wanna try for a while which has put Bitcoin adoption as a payment currency even further on the evolutionary scale.
Moon is a platform that allows you to pay with crypto everywhere Visa® cards are accepted. Private. Secure. No fees. Terms Apply
Will have to give it a look soon, I just saw a guy on twitter buying a metro ticket with BTC by using this app. Doesn't it sound interesting? Meanwhile, while Joe Rogan was praising Bitcoin he has also criticized what CBDCs will be and that is programmable money. Many are overlooking this, but CBDCs are what comes after the trojan horse(covid vaccine IDs) entered the fortress.
Coupled with social credits, this ultimate form of rat poison money will decide what and how much freedom we will have, if of course we don't circumvent the elites control and work our way around their damn CBDCs with our own stables. HBD would be a good option in this regard. So yeah, Elon Musk has once again completely misunderstood some blockchain related product in the form of NFTs, same as he did a year ago with Bitcoin mining being harmful for the environment.
Bad advertising is advertising too, thus no need to worry. What we need to worry about is the CBDCs concept, that's what I would call as rat poison money. What do you think?
Thanks for attention,
Adrian