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If you thought things had gone nuts before...


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...you were not even close to how nuts things have gotten.

This morning I was checking my Bitcoin balance, having just for fun spent about $100 on BTC back in May -- and it's hanging around $70 now, so cool jets, right? Don't worry, it was mad money. If BTC goes to zero, it won't bother me in the slightest. It's just fun to watch. Somewhat, anyway.

But while checking the balance, I noticed a news item: "Bored Ape NFT Collection Fetches $24M at Sotheby’s". I was like, "WTH is an NFT?" 

Ancillary to this is "What the heck is a bored ape? As in the "Bored Ape Yacht Club"? Don't click on this. It's crazy, and it might be contagious: BAYC. From the website: "The apes are stored as ERC-721 tokens on the Ethereum blockchain and hosted on IPFS. (See Record and Proof.) Purchasing an ape costs 0.08 ETH." And now you know. Something.

Not that it tells you much, but NFT stands for "non-fungible token." And so now you know as much as you did before you read this post. Or possibly less. And far from new, this thing has been circulating in certain circles for years. 

Well, here's an explanation. Of sorts.

It all reminds me of the Dutch tulip mania of bygone years...

Edited by Stargazer
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