Bitcoin to shitcoin to NFT
FatherofZoomers
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October 5th, 2022

My 401k is now a 401 k9

- remy, dog money

The crypto wallet has been dusted off. Part of the plan to come up here was to buy a couple bitcoins to hold as the financial system disintegrated. Too paranoid calm down they’ll bail it all out once the shit hits the fan - which was one of the fundamental propositions of the Bitcoin whitepaper - that in times of big debt loads - in a financial crisis, the authorities will always tend to print, to monetize, and the Bitcoin acted as a liquid, store of value that would enable one to preserve wealth through the inevitable monetary profligacy that many is in some ways necessary… inflation might be some rough stuff, but the opposite, a great depression is too much for us to handle.

At some point the Bitcoin became a shitcoin, which is a derogatory term that the bitcoin community uses for other cryptos. It was very early in 2021 - I looked at a chart of AAVE… the crypto bank, it went from fifty cents to almost five hundred dollars in the course of a year. I looked at the chart again. Was that right…fifty cents to five hundred dollars? Noooo… but there it was …. and there in that instant a shitcoiner was born - I’ll be damned if I’m just gonna turn my eyes away from a 100x. Promptly sold the bitcoin and bought the “ graph” . Went nowhere and kept researching. Bought a whole bunch of various coins. Kept researching and came up with the idea “ chiliz” was where it was at, a crypto coin that is connected with pro sports and lets fans participate in small scale decision making like what song should the team come out to. Started accumulating around eleven cents. In a day it was up to .20 and I had put every last cent in by the time it got to .25. In a week it went on a tear and my 25k went up to 90k in the blink of an eye. Went back down rather quickly took but I was hooked as the great crypto pump of 2021 took hold in the springtime, climaxing with participating in the ultimate shitcoin - ( and to be honest I don’t like the word ). SHIB. The SHIB story is a story unto itself, but let’s just say the dog money mania was equal to if not surpassing the Dutch tulips. And the crash came, coupled with the need to use my funds to finish building…. and the crypto party for FatherofZoomers came to an end.

The tech bubble crashed pretty hard in 2002…. yet that wasn’t the end of the internet. And we haven’t heard the last of crypto. The crypto wallet has been dusted off because I have found a platform to start minting literature NFT’s. Optimism is a layer 2 on Ethereum that enables cheap transaction fees - not dirt cheap sub zero, but a few cents…. we who were there for 2021 remember paying 200 dollars for gas fees.

It is interesting to get back in crypto and see the progress. Last time there weren’t any layer 2’s on ethereum that had traction and real time usage…. now after a few minutes of fooling around have been able to mint my first NFT’s ( ERC-721). Whether the hyper is justified we shall see, but the whole concept is bizarre in its radical empowerment to creatives. Just like substack. When you pick up your phone in your lazy chair at 5 in the morning… it is just as easy to read a blogger sitting next to a woodstove as it is to access the words of the New York Times. And now the ability to claim permanent intellectual ownership of the content on the block-chain. With programmable royalties. We can publish to the whole world instantaneously, without the publisher. Don’t know how much this technology makes inroads with writers, but I’ve come to understand… bet on the tech… bet on the computer in 1980… bet on the internet in 2000, and bet on web3 in 2020. What is Web3. Good question. Leave your metamask address in the comment section and I will attempt to send this NFT to you, free of charge. Web 3 is where readers and members of digital community share in the value proposition. No more writer publishes book and splits the money with the publishing house. Now we divy it up between the writer ( actually I’m gonna give it all away) and the reader, and the publishing house gets left in the technological dust. Log onto mirror website and click on the “ optimism” network link too, I think you’ll need that to see the NFT… which you will on in perpetuity and can re-sell on the secondary market. Nobody knows how to do crypto. Nobody knows how to do Web3…. we just start trying things and see what works.

Ohlson Mountain, October 2022

had to put this one in there

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