It’s the participation of ‘MrBeast, the world’s most popular YouTuber’ and ‘Hawk Tuah Girl’ that gives this the feeling of utter late-stage imperial decadence - ThreadSky

roryisconfused.bsky.social • 92 days ago

It’s the participation of ‘MrBeast, the world’s most popular YouTuber’ and ‘Hawk Tuah Girl’ that gives this the feeling of utter late-stage imperial decadence

Reposted from Giles Wilkes

The first financial scandal/crisis to defeat all attempts at satire. There's nothing to say

Comments

badsocialism.bsky.social•91 days ago

Say what you want about Dien bien Phu, at least it wasn't silly

alexmaclaren.bsky.social•92 days ago

Oh God, as the owner of a 14-year-old son I look forward with near certainty and grim hope to the inevitable downfall one day of MrBeast.

martyolliff.bsky.social•92 days ago

When you get down to it, this is no more (nor any less) silly and decadent than betting on the point spread.

trexpushups.bsky.social•92 days ago

At least you get to watch a sports event. With the shit coins you don't even get that.

leeroden89.bsky.social•92 days ago

The masses want their snake oil, and the masses shall get their snake oil

shawnisstilltired.bsky.social•92 days ago

I for one welcome fools being gleefully separated from their money. It’s like sheep waking the farmer up demanding to be shorn.

ehazelwood.bsky.social•92 days ago

That old warning about "when you start getting stock tips from your shoeshine boy" comes to mind...

davidlennardgijon.bsky.social•92 days ago

Can you keep bitcoins and memecoins and the like under yur mattress, for a virtual rainy day?

pjcharsley.bsky.social•92 days ago

A cold storage wallet is designed for that very purpose. There are many varieties, with the aim of keeping each purchase of your crypto safe forever.

davidlennardgijon.bsky.social•92 days ago

It's still just a glorified Ponzi scheme / fiat currency setup though... isn't it?

jeromelampasi.bsky.social•92 days ago

Not all crypto coins are ponzi

trexpushups.bsky.social•92 days ago

They are all worthless digital tulips that only have value because people think there will be a bigger fool to pay them later.

richarddwyer.bsky.social•92 days ago

"It's a bubble"

swainhart.bsky.social•92 days ago

IDK, if the Hawk Tuah Girl is involved it may be legit

guydoesjob.bsky.social•92 days ago

Aren’t these just NFTs by another name?

sciansell.bsky.social•92 days ago

But without even the pretence of social usefulness. In theory NFTs transferred some money to someone who made something. Meme coins are sort of like multi level marketing but with no product and more gambling.

trexpushups.bsky.social•92 days ago

It's stock speculation without having to make a fake company

sciansell.bsky.social•92 days ago

And without the chance that your capital will fund something useful and or productive. And we wonder why the economy is currently screwed. Instead of investing in infrastructure, factories or wind turbines people are giving their money to con artists to buy Lamborghinis.

roryisconfused.bsky.social•92 days ago

It’s Musk’s love of “memes”, as he understands them, that makes me physically cringe more than anything else about him. One of his odd affectations that make him seem like a lonely, annoying 13 year old.

roryisconfused.bsky.social•91 days ago

I looked at this news and thought “oh that’s strange, the FT got it wrong, she’d already launched a coin”, but no, since they wrote this – yesterday – the coin got launched, overinflated, and then horrifically crashed; it was utilised as a pump-and-dump, somehow, by her or somebody else.

roryisconfused.bsky.social•91 days ago

I think she might go to jail?

roryisconfused.bsky.social•91 days ago

Quite the arch. Quite the rise and fall. In miniature, it says everything about our age.

roryisconfused.bsky.social•91 days ago

Arc, I mean. I’m tired and ill.

gswilkinson.bsky.social•92 days ago

This sort of stuff came up a lot in the recent BBC documentary about Jake Paul where an actual journo is at least trying to be serious about 'Dink Doink'

jacobtlevy.bsky.social•92 days ago

In some sense this isn’t any different from tulip bulbs or Beanie Babies but it’s all so much crasser and fouler. And at the end of those games of musical chairs, at least the losers had some tulip bulbs or stuffed animals.

trexpushups.bsky.social•92 days ago

Exactly!

People are losing everything for the promise of a bigger sucker wanting their digital tulip.

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