In terms of monetary losses you may as well consider the costs of the courts and the regulatory bodies needing to focus their attention on the crypto space, those costs are ultimately covered by the taxpayers and I even wonder if this has ramifications for checking finances in the real world where ledgers are not on a blockchain.
Your thorough research and clear explanations make it easy to keep up, and to explain to my family and friends just how grifty this all is. W3IGG kills me! Thanks for all your work!
So glad I found out about your work this year Molly-always excited to read what you are writing! AND I heard you on NPR the other day!! That was cool. And found out you are a Harvard Fellow? Dang. Accomplished, insightful and hilarious all at the same time.
"The problem of once-pricey NFTs becoming so valueless that collectors can’t even offload them for pennies has apparently become widespread enough that people are paying companies to take their worthless NFTs so they can then try to claim the loss on their taxes. In one case, a buyer paid to dispose of an NFT they had acquired for $12,000 a year ago. Another offloaded a pile of 338 blockchain gaming NFTs that they had acquired for a cumulative ~$84,000 in and around July 2021."
Couldn't happen to a more deserving group of people.
I suspect that the end of the ZIRP era will mean significant pain for the insanity of Crypto. Good.
Love your work, Molly. Happy new year! Here's to 2023 and an avalanche of more exposés and crypto crashes.
In terms of monetary losses you may as well consider the costs of the courts and the regulatory bodies needing to focus their attention on the crypto space, those costs are ultimately covered by the taxpayers and I even wonder if this has ramifications for checking finances in the real world where ledgers are not on a blockchain.
Your thorough research and clear explanations make it easy to keep up, and to explain to my family and friends just how grifty this all is. W3IGG kills me! Thanks for all your work!
So glad I found out about your work this year Molly-always excited to read what you are writing! AND I heard you on NPR the other day!! That was cool. And found out you are a Harvard Fellow? Dang. Accomplished, insightful and hilarious all at the same time.
Have a fantastic 2023!!
Happy new year and thank you for all your great work!
Great start to 2023! Cheers!
This is what makes me smile:
"The problem of once-pricey NFTs becoming so valueless that collectors can’t even offload them for pennies has apparently become widespread enough that people are paying companies to take their worthless NFTs so they can then try to claim the loss on their taxes. In one case, a buyer paid to dispose of an NFT they had acquired for $12,000 a year ago. Another offloaded a pile of 338 blockchain gaming NFTs that they had acquired for a cumulative ~$84,000 in and around July 2021."
Couldn't happen to a more deserving group of people.
I suspect that the end of the ZIRP era will mean significant pain for the insanity of Crypto. Good.
Oh my I forgot about the Dune thing. Great wrap up!