NFT critics and Dunning-Kruger effect
People get so confidently ignorant about NFTs because of the Dunning-Kruger effect, yet nothing has objective value regardless. The problem is that long-term profitability makes people build their identity around whatever they invest in. That's why contradictory views get taken personally since they threaten that investment-based identity. Collectors and traders engage with both Pokémon cards and NFTs even though one generated wealth for decades while the other just crashed.
Transkript (en)
how confidently ignorant are these people that are shitting on NFTs, right? Like, it's always concerning when people are so confident about something they know nothing about. It's the Dunning-Kruger effect, right? It's like, and the thing is, like, what they're saying is objectively true in terms of like, oh, this doesn't have value. I would agree with you. But the thing that you're spending all this money on doesn't either. Do you know what I'm saying? Like, that's my thing where I'm just, I want to shake them. I'm like, bro, just because all of you guys have been making money for decades does not mean this isn't stupid. You know what I'm saying? Like, it's the same thing. Everything is dumb until it makes you money and then it becomes your identity. So these people have their identity. So if you say anything to the contrary that could pop that bubble for them, they literally take it personally because they have to. If you're still into NFTs, you should definitely follow us because we talk about JPEGs more than we probably should.
