Anything for a Dollar
Have you seen the nonsense out there lately? Hawk Tua coin? Luigi Mangione coin? What else am I missing? Oh, right…FARTCOIN! Throw in the Tyson-Paul “fight” too. Another marketing flim-flam masquerading as a boxing match.
Fartcoin has a market cap of $550 million.
Five hundred fifty million.
Five Five Zero million.
The way we’re behaving, we deserve double digit interest rates and medieval-level lending rules. Don’t pay up? You get your hand cut off. Shark people for a few bucks? Same fate. That’ll make people think twice I’d say.
I’m kidding, but holy shit have things gotten out of hand. It seems like the sharks are trying to push the levels of disrespect to see just how much they can get away with. Whether it be coins, NFTs, SPACs or bananas being taped to walls, I believe we’re seeing very late-stage-of-the-bull-market type behavior.
We also have easy money and moral hazard to thank for this kind of behavior, but that’s another discussion.
Beyond earthly laws, I also abide by Higher Laws. There are some things that are legal, such as starting a stupid coin, that I’m just not comfortable doing. Preying on people’s greed or hope for a few bucks isn’t something I’d teach my son to do. There are honorable ways to make a living that contribute to society, not leeching off of it.
Anyway, things can still get more insane. The dollar figures. The valuations. The payouts. The contract sizes. For as silly as things seem sometimes, prices can rise much further than we all think — and I’m betting they will.
It is nuts but it keeps on going. And now that Trump is elected, many are even more euphoric. The tech titans are making $1M donations to his inauguration.