Murtaza Hussain
@mazmhussain
One thing I learned from cryptocurrency and now social-fi platforms like Farcaster is that money is completely fake and bears no necessary relation to labor as most people had assumed and continue to believe. Its possible to literally generate money out of thin air using clever tricks and obfuscations. Of course people in finance already knew this years ago and the knowledge has simply become a bit more democratized.
8 replies
10 recasts
83 reactions
artlu 🎩
@artlu
<< One thing I learned from Amsterdam and now high-minded intellectual towns like Utrecht is that money is completely fake and bears no necessary relation to value as most people had assumed and continue to believe. Its possible to literally generate money out of tulip bulbs using clever tricks and obfuscations including paper chits backed by future tulips. Of course people in London already knew this years ago and the knowledge has simply become a bit more democratized. >> People's response to your original statement reveals their age. I came of age during the internet bubble, when friends just out of college could become multi-millionaires with a good idea for a website. The memecoin + AI evolution are an extreme distillation of this. It's kinda important if you are to stay in crypto to have a clear reason in your own mind why the fourth version of Ethereum is going to be different from a special variant of tulips during the Dutch Golden Age, when a bulb could as a matter of fact be traded for a house.
1 reply
0 recast
5 reactions
artlu 🎩
@artlu
to follow up, very few people in finance believe you can create money out of thin air. Outside of a few caricatures, and the extreme crazy fringe, and some high-ranking sociopaths. Evidence: the collective gasp of astonishment after SBF described his magic box on Odd Lots with Matt Levine. In proper finance, the monetary imperative for clear thinking outweighs most delusions (but not all!). I hope that we in crypto will be rewarded eventually, for looking deeper into different kinds of "thin air" and the necessary conditions to make bubbles solid
0 reply
0 recast
1 reaction