The recent craze in the crypto world are NFTs. Most of you have heard of them and some of you have bought/invested in them. On the surface, it seems like a “cool” idea to sell avatars as works of art. But then something else happened after Gary V bought his crypto punk for $3m+ a short while ago. The entire space is frantic with panic buyers — people stepping in and diving head first into artless projects — giant rocks and doodles of nothing — distorted pixilated nonsensical pieces of shit.
I’ve completely lost my brain in the NFT world this shit has gotten way out of control now ? pic.twitter.com/mNs2Ieaw8q
— Crypto ?itlord (@crypto_bitlord7) August 26, 2021
While this is happening, ETH and BTC are flat — but there are surges elsewhere in newer/cooler coins like SOL — which has tripled over the past month.
It reminds me of when I was investing in MANA — nice little Metaverse where people were buying PARCELS OF LAND and dropping six figs to do it. It was “cool” up until the idea struck me that the coin itself, MANA, was going up too much, so much that people would not be able to afford playing the game. Shortly after the entire crypto space COLLAPSED and MANA corrected.
During the previous crypto collapse, what preceded it was wanton speculation in DOGECOIN, Cum Rockets, SafeMoon and various other SHITCOINS that ripped because it was mockery and a joke and that joke soon led to tragic losses and real hardship.
Same shit is happening now in the NFT space.
I just paid $453,531 USD for this pic.twitter.com/c0KnXXWxIh
— RookieXBT? (@RookieXBT) August 28, 2021
So what does this portend and will ETH drop again — once these NFT lunatics get cleaned out?
Unfortunately yes — ETH will drop hard and yes most NFTs will drop by 90% in value — because hot money gets cold very fast once the fever breaks.
Perhaps my age is finally showing with this new investment theme; but I just can’t get myself to commit good valuable ETH, which was derived from good valuable stocks, which was derived from good valuable dollars, which was derived from hard work —- and transfer it all into a fucking retarded looking ape scrawled by some moron hopped up on mushrooms hoping to be today’s Picasso, only on the blockchain.If you enjoy the content at iBankCoin, please follow us on Twitter