Speculative Bubbles in the 21st Century & Asymmetric Upside

Where novel speculative assets previously lived in various networks of the world, largely inaccessible, today they are accessible via digital primitives (on-chain or not) which leads to a dynamic where any asset with an asymmetric upside risk profile that can be quickly exploited or "aped into", will be.

This behavior will fundamentally not stop and it is far more valuable to suspend disbelief in order to reach a core understanding of the bull case, than play devil's advocate to tear down a partially flawed, overbought, or misunderstood asset.

Admittedly, I thought a bunch of the ICOs in 2017 were a joke, I don't believe that many of the NFTs today will hold value, I don't find the asset price increases of meme images intellectually interesting, I think a lot of these “communities” are overrated, and despite being a beneficiary financially of this movement, I am a bit mindblown/bothered ... See more