this post was submitted on 24 Jun 2025
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As far as I am aware, crypto and NFTs are worth nothing. We might see the Federal gov prop it up for a little longer, given how much the industry contributed to Trumps war chest in 2024, but I don't expect it be actually worth anything.
I was using "Block chain" as a generalized term for what could be called "the NFT" bubble which absolutely was a thing in 2021, kick started by that Beeple auction and continuing until... roughly Dan Olson's 'Line Go Up' video. Bitcoin had obviously existed long before this. But the under tones were that crypto idiots were pitching was that it would replace all regulatory bodies with web3 block chain technology. They wanted to put all records, including Banking and property records (obviously) but also things like medical, employment and educational records as well, including educational and employment accreditation earned. There are a lot of dimensions to this (that are all extremely dystopian), but I feel confident calling that a tech bubble, with the exact same paradigm shift mentality that underpins the thought process underpinning AI right now.