Thank the fed once again for yet another bubble.

[treeman]

This isn't a bull market. This is inflation, soon to be hyper inflation.

You can make money both ways. And should. So many commodities in backwardation. As I said, there is nothing subtle about what is occurring.

We're not here to complain about it.

 

[JSOP]

This isn't a bull market. This is inflation, soon to be hyper inflation.

We won't have inflation as long as the productivity to keep up. If the Feds really want to control inflation, they shouldn't have an inflation target, they should have a productivity target. As long as that's above certain % to keep up with the money supply multiplier, you won't have inflation.

 

[S2007S]

Saw one "piece of digital art" where somebody paid $2.6 Million for it. What? In this digital age? Prolly took 5 minutes to compose.

And then there's the Jack Dorsey "1st tweet"... 5 F'n WORDS! $2 Million.

Makes the "Banana Taped To Canvas With Duct Tape"... selling for $120,000... look like chump change. (Too bad the artist wasn't smart enough to tape a kumquat instead of a banana.... would have been worth $MILLIONS! )

The world has gone mad, I tell you!

The amount of stories I have read from the amounts of money people are spending on NFTs is just absolutely insane. It just seems to have blossomed overnight. And I can absolutely say these buyers are hoping to flip these NFTs. This is what you get when the fed hands out free money to the world.

Like you said the banana art at 120,000 looks miniscule compared to what is now taking place. It is a world gone mad....

 

[JSOP]

The amount of stories I have read from the amounts of money people are spending on NFTs is just absolutely insane. It just seems to have blossomed overnight. And I can absolutely say these buyers are hoping to flip these NFTs. This is what you get when the fed hands out free money to the world.

Like you said the banana art at 120,000 looks miniscule compared to what is now taking place. It is a world gone mad....

As long as nobody buys them when they are trying to flip, there wouldn't be any bubble. Dunno about you guys but personally I wouldn't spend s*** on some angular-line drawing of somebody's baby.

Whatever happens, we make $$ either way. When there is a bubble, we ride the bubble. When the bubble burst, we ride the crash.

 

[S2007S]

Generally, I agree with you.....unless....every single digital image available on the internet is about to become copyrighted and will demand royalties to be reproduced anywhere.

If that were to happen, suddenly certain iconic images like planes hitting the WTC, JFK riding in the limo, OJ trying on the gloves, etc, might be worth a lot of money.

But again, only if the above copyrighting scenario takes place.

Would never happen. If that's what they think they are thinking absolutely wrong about that possibility.

 

[S2007S]

Here is the buyer


The buyer of a $69 million art NFT is the same crypto whiz kid who once paid $4.6 million to have lunch with Warren Buffett

Crypto whiz Justin Sun bought a piece of digital art from artist Beeple for a record $69.3 million at a Christie's auction on Thursday.



https://markets.businessinsider.com...ft-warren-buffett-christies-2021-3-1030175330

 

[Specterx]

Saw one "piece of digital art" where somebody paid $2.6 Million for it. What? In this digital age? Prolly took 5 minutes to compose.

And then there's the Jack Dorsey "1st tweet"... 5 F'n WORDS! $2 Million.

Makes the "Banana Taped To Canvas With Duct Tape"... selling for $120,000... look like chump change. (Too bad the artist wasn't smart enough to tape a kumquat instead of a banana.... would have been worth $MILLIONS! )

The world has gone mad, I tell you!

It's just proof that beyond a pretty basic level of subsistence, all economic value is socially constructed.

One could say that our society values some pretty f'ed-up stuff: suburban sprawl and strip malls, fringe sexual predilections, Bitcoin, modern architecture, the taped-up banana. And that person would be right.

 

[bone]

I knew who started this thread before clicking on it. Predictable.

 

[maxinger]

Traders like FED for it provides trading opportunities.

Thank you Fed.
Please provide even more trading opportunities with
bubble or whatever.

 

[brettdoyle]

You guys just don't understand NFT.

Here is how it works:

Step 1) You buy the NFT.
Step 2) Then you sell it to a greater fool.
Step 3) That greater fool is buying it because they have an expectation to sell it to an even greater fool.
Step 4) The cycle repeats over and over until the greatest fool of all time buys. Then you have a problem.


Understand?