Ethereum is poised to gain as Bitcoin s dominance best cpu for mining cryptoweakens, with the cryptocurrency s market capitalization surpassing that of Bitcoin for the first ti
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What Happened: Lee, a former engineer at
Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) search unit Google, sounded the alarm on the parallels between the ICO rush of 2017 and the current NFT craze in a Twitter post on Tuesday.
I see a lot of parallels between 2021 s NFTs with 2017 s ICOs and 2013 s altcoins:
– easy to create new ones with no barriers
– simple to understand & explain
– high prices & pumps create hype/FOMO
– few will hold & have value, most won t
The cryptocurrency veteran described NFTs as “Non-Finite Tokes” and pointed out that there is “zero cost to create [an] unlimited number of tokens.”
Bitcoin surged to an all-time high after Tesla Inc said it's invested $1.5 billion, becoming the biggest company yet to back the controversial cryptocurrency.