this post was submitted on 11 Mar 2026
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Isn't it pretty obvious this was 99% a money laundering scheme?
Walking up to a game of Three Card Monte and saying "It's pretty obvious he's palmed the Queen" mostly just gets you heckled and chased away.
Part of the problem with digital spaces is that you've got your person setting up the scam, and then you've got your layer of people marketing the scam, and then you've got your first layer of suckers who think they are coming out ahead on the scam, and then you've got the second layer of suckers who all know a tier-one sucker who just got rich. And then you've got the bots and the ideologues and the contrarians and the know-it-alls, all repeating the line that the person who set up the scam encourages them to say.
And it's over all that cacophony that you announce "It's obviously a scam". Then Reddit boots you for violating terms and conditions of the platform.
If it wasn't in the beginning, it was after Folding Ideas/Dan Olson released "Line Goes Up".
Only to people with brains.
That's easy to say with the benefit of hindsight in 2026. However, back in 2021, it was easy to say without the benefit of hindsight.
Had me in the first half, not gonna lie.
I think it was even easier to say in 2021, because more people knew about it and the scam was even more obvious. Now, in 2026, most people's hindsight doesn't go back that far, it was quickly forgotten as it should be, and people are like "huh? NFT?"
The only good thing out of NFTs was that I learned what fungible means.
Is a thing with null value fungible?
Nah, A large portion of it was idiots attempting to lose money as quickly as possible.