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Comment by nyokodo | Hacker News Reader

> I guess I just don’t understand why it gets people so riled up in either direction.

NFTs are fashionable right now and some people love to attack fashions. Multiply that sentiment by the fact that many (most?) don’t understand crypto or at least the attraction to it. Raise that to the power of the tribal dynamics this issue has assumed under increasing media and political scrutiny. An issue ripe for the obsessions of our time.

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Some people are spending huge amounts of money to claim they hold a wholly theoretical form of "ownership" over art that at best could be a sticker on a kids laptop.

Other people think that's insane.

They aren't equally right.

> that at best could be a sticker

Case in point. Some people collect stickers. I don’t but I’m not going to take every opportunity to obnoxiously point that out every time sticker collection comes up.

Show me who is spending $1M on a sticker thinking they'll double the money?

Plenty of other things have been the subjects of irrational exuberance that are fundamentally fine. No one is arguing tulips or houses are ipso facto nonsense. $1M for an NFT is more of a symptom of insane/desperate global monetary policy but NFTs per se are fine.

Do stamp collectors qualify?

If they think stamp collecting is a way to get rich quick, sure. But I think passion for the topic is the driver. That and actual scarcity behind the asset, as opposed to Ponzi scheme.

I think they are equally right, honestly. But between you and those people, you’re not equally condescending.

Oh I wasn't trying to be condescending, I actually hold people hawking NFT to suckers in deep, deep contempt.

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