Unadulterated Horse Puckey
Mar 12, 2021
Dylan’s Weekly Notes:
Non-fungible tokens or NFTs as they’re known. What are they exactly? Beats the hell out of me. My understanding, you pay a lot of money for a video that’s readily available for viewing in the public domain. Let me say that again. For thousands of dollars, you can own an NFT, which through blockchain technology, is linked to a video already free to watch on YouTube, Facebook, ESPN, or literally anywhere.
Listen, I understand we’ve all been locked up at home a long time. We’ve had to learn to live with ourselves or significant others in a way humans aren’t really meant to exist. Maybe you’ve been wearing sweat pants too long. Maybe you’re eating Nutter Butters dipped in Nutella for dinner because, well, you can. I get it. We’re just trying to get to the end of the pandemic and maintain some semblance of sanity along the way.
But when you’re paying $40,000 to buy a video clip of a cat pawing at the keys on a piano - a video anyone can Google at any point in time and watch however many times they want, FOR FREE - well, then my friends, you’ve crossed over into Crazy Town. The danger outside from the virus is no longer the bigger concern.
By definition, a market is a place where buyers and sellers meet to exchange goods and services for a fee. The more people that participate in that market, the more efficient it becomes. However, just because a market exists or can exist doesn’t mean it should.
We’re living in an era where now we’re just making things up and assigning value to them. Dogecoin was literally conceived as a satirical comment on cryptocurrency. That satire now has a market cap of over $7B! Still, that wasn’t nutty enough so now we’ve gone full tilt, just randomly grabbing pictures and videos off the internet and giving them value. It’s complete unadulterated horse puckey.
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.
tastytrade content is provided solely by tastytrade, Inc. (“tastytrade”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, transaction or investment strategy is suitable for any person. Trading securities can involve high risk and the loss of any funds invested. tastytrade, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors, and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. tastytrade is not in the business of transacting securities trades, nor does it direct client commodity accounts or give commodity trading advice tailored to any particular client’s situation or investment objectives. Supporting documentation for any claims (including claims made on behalf of options programs), comparison, statistics, or other technical data, if applicable, will be supplied upon request. tastytrade is not a licensed financial advisor, registered investment advisor, or a registered broker-dealer. Options, futures and futures options are not suitable for all investors. Prior to trading securities products, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure for Futures and Options found on tastyworks.com.
tastytrade is a trademark/servicemark owned by tastytrade.
tastyworks, Inc. ("tastyworks") is a registered broker-dealer and member of FINRA, NFA and SIPC. tastyworks offers self-directed brokerage accounts to its customers. tastyworks does not give financial or trading advice nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of tastyworks’ systems, services or products. tastyworks is a wholly owned subsidiary of tastytrade, Inc (“tastytrade”).
tastyworks, Inc. (“tastyworks”) has entered into a Marketing Agreement with tastytrade (“Marketing Agent”) whereby tastyworks pays compensation to Marketing Agent to recommend tastyworks’ brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastyworks. tastytrade is the parent company of tastyworks. tastyworks and Marketing Agent are separate entities with their own products and services. tastytrade has different privacy policies than tastyworks.
Quiet Foundation, Inc. (“Quiet Foundation”) is a wholly-owned subsidiary of tastytrade The information on quietfoundation.com is intended for U.S. residents only. All investing involves the risk of loss. Past performance is not a guarantee of future results. Quiet Foundation does not make suitability determinations, nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of Quiet Foundation’s systems, services or products.
Small Exchange, Inc. is a Designated Contract Market registered with the U.S. Commodity Futures Trading Commission. The information on this site should be considered general information and not in any case as a recommendation or advice concerning investment decisions. The reader itself is responsible for the risks associated with an investment decision based on the information stated in this material in light of his or her specific circumstances. The information on this website is for informational purposes only, and does not contend to address the financial objectives, situation, or specific needs of any individual investor. Trading in derivatives and other financial instruments involves risk, please read the Risk Disclosure Statement for Futures and Options. tastytrade is an investor in Small Exchange, Inc.