An Honest Conversation On The Problem With NFTs & Cryptocurrency, with @FoldingIdeas

In this episode, Chelsea speaks with Dan Olson from @FoldingIdeas to discuss his recent explainer video on the danger of crypto and NFTs.

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[irinaphoenix]

"It's the 5% fighting the 1%." I thought that was the most illuminating quote of the NFT video, and by that point, you had proven it. It seems like that's the basic thesis if you can nail down just one.

[Turtlesism]

Nothing demonstrates this future dystopia better than the entire comment threads on this video, which are essentially bots talking to one another to pretend to be users. Utterly surreal seeing an entirely random conversation about buying Crypto and suddenly - one could even say, suspiciously - making a ton of money from seemingly thin air. It's like a version of the "I make X amount of money doing surveys at home for Amazon!" style bots from a while ago.

[nopasaran]

This dudes video was awesome. It turned me from NFT hater to apocalyptic NFT destroying god with lasers coming out of my eyes

[Dana-hclg]

I can't describe the sensation I felt when Dan said "have you heard of adoptables". As someone in the furry fandom, I have been (albeit, mostly jokingly) making this comparison for SO long, and have never seen it brought up in the NFT discussion outside of that. People will bring up NFTs and I'm just like?? They're furry adoptables but 10, 000x worse. Nft bros will even talk about their animal characters like I hear people talk about furry adoptables, like, ooh, "I love the design, the color, and it has a leather jacket, I think that looks cool! I knew I just had to buy it immediately, it's my new form of identity, I'm gonna put it on my hoodie, " etc. Except of course you can get some quality premade furry design/artwork for like. $50 and not $50k, lmao. Not to mention the artist gets all that money! Anyways. I appreciated him bringing that up if not just for the way my head turned 180⁰ like an owl when he said the word 'adoptables'. Not to mention the whiplash of him using all these pentasyllabic words throughout regarding the financial and cultural state of society just to then utter the phrase "blue jaguar character". I swear I started levitating in an orbit like that potato someone taped to their ceiling fan

[salvadorp]

I’ve been a fan of Dan for 10 years - the ten most formative years of my life. I’m so happy he’s getting some real attention. It’s absolutely hilarious trying to see him brief

[MrMuel]

I love listening to Dan talk. He can tear something down, while still remaining deeply compassionate to those caught up in it. His Flat Earth video is another great example. It is interesting hearing him here in a more free-form medium.

[Rubberman]

To hear Dan describing people who are pro-crypto actually (begrudgingly) agreeing with him, that's actually incredible.

[GrifterE]

Dan tongue tied spitting out “we have history books” is the most relatable moment.

[ImperialGoldfish]

5.3M views in 3 weeks... Dan's made a lot of the best videos on Youtube in his career, but I'm glad it was THIS one that blew up like crazy. Huge respect.

[Jaspertine]

What I truly appreciate about Olson's video was the specificity of his breakdown of the technical side of things. Most people in my circle of family and friends didn't really understand NFTs, and having such a comprehensive resource breaking them down was a big help.

[renegadegeek]

I'm an older viewer of yours (I'm 46!) and I want to thank you for taking on these issues. I am really worried about friends my age destroying their retirement plans by investing in some of these shady cryptos. You do a much better job of explaining why to use caution than I ever could.

[DalePatch]

"Even if you believe in crypto, there's an observable bubble." -Dan Olson Great line from this interview.

[KRfromthePaleozoic]

Dan: *immediately regrets reflexively saying "welcome" back at Chelsea, on her channel*

[seekittycat]

I'm terrible with impulse and money, it's psychological and something I'm working on with my therapist. But I'm happy to say I've never bought NFTs, these videos help so much.

[RedMeansRecording]

This is a great interview and definitely feels like a perfect counterpart to the original video. Thanks to you both.

[DinoCism]

Wow, I remember watching Dan's video and thinking "damn this is a really comprehensive breakdown of everything terrible about NFTs, this is the kind of thing I wish would go viral." Glad to hear it actually did and good interview.

[masterstacker]

38:50 "People become resistant to predation when they feel safe." Had to shed a single tear for we are going hard in the opposite direction.

[Pheonee]

this is so niche, and minor in comparison to all the other thoughtful points he's made in Line Goes Up as well as in this interview, but the very brief explanation that Dan gave of the adoptable community really illustrates why I respect his content so much. as someone who's been in adopt and furry communities for years, I know how insular and objectively silly (though very sincere!) it can be, and to hear someone from outside the community describe it so correctly and with zero mocking is really surprising. he did the same thing with smutty fanfiction: interface with very mockable subcultures in sincerity and good faith, and with respect that's usually not afforded to us. it's rare for someone who discusses serious, heavy-hitting topics to also take pains to acknowledge the humanity of 16 year old sparkledog peddlers on deviantart, but it's very appreciated and in my opinion speaks to his research and empathy skills.

[arcmage]

Great to see Dan's video really embedding itself into the public consciousness, it's such a breath of fresh air to know that there's a concrete and comprehensive no-BS analysis of all this stuff out there, and that millions of people have watched it

[learningtogrowinChrist]

Crypto "investor" here came as a follow up to his original video. Very thought provoking. I personally try to avoid MLMs like the plague and it's interesting to think I've possibly fell for the biggest one of all. Thanks for talking about these things in a thoughtful way that helps us process IF we should be in the crypto space... I'm thinking no, not 100% on that still.