Status Monkeys - By Packy McCormick - Not Boring by Packy McCormick

-Displaying a Punk that you don’t own as your profile picture is frowned upon.

'-Owning a Punk is a status symbol, like owning a Ferrari or an expensive handbag.

Bitcoin issues bitcoin (BTC). Twitter “issues” followers.

That said, NFTs will face an asymptote from crypto adoption and affordability. NBA TopShot and Fractional are steps in the right direction, and no doubt more innovation will come to make NFTs more accessible to a wider group of people while retaining the benefits of scarcity, or replacing scarcity with other benefits, like community.

-Punk owners often use the image of their Punk as their profile picture (PFP).

This is the power of valuable NFTs: they are high in social capital and utility, and moving higher in entertainment. They hit the social network trifecta.

On the deflation side, social networks can get less cool as more people join. The canonical example here is what happened to Facebook when parents started joining: all the young people left for Instagram and Snapchat. Social networks need to be analyzed based on more than their network effects... There are three axes for analyses: Social Capital, U... See more

Miners receive BTC for securing the network. Twitter users receive followers for tweeting witty, amusing, or mind-expanding things in under 140/280 characters.

It costs more to mine BTC now than it did earlier, and will continue to get harder until all 21 million BTC are mined. In the early days of Twitter, you could get followers by tweeting what you were eating for lunch; today, people have resorted to long threads.