Status Seeking Monkeys

“People are status-seeking monkeys.”

It sure feels good when this happens.
This is how they pay you.

The OG Proof of Work

  • Instead of tokens, they reward you with “likes” and “retweets.”
  • To farm these tokens, you have to provide some new “proof of work” (a blog post, status update, or selfie).
  • They make it easy to farm tokens in the beginning, but then it gets more difficult over time (built-in scarcity, like bitcoin).
It feels good to get mentioned on CNBC.
  • Apes = internet slang for investors who supposedly don’t know anything
  • Yachts = the ultimate status symbol of the fabulously wealthy
  • Plus, they’ve made so much money that they’re bored.
This picture of a rich monkey is selling for $53 million.
Can you imagine how much their Bored Ape NFTs will be worth after the VMAs?
In the world of status, you’re hot until you’re not.

Investing in Status is Like Investing in Social

In the bottom left quadrant would be the vast majority of crapcoins. (Low social capital, low utility.)

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Sir John Hargrave

Sir John Hargrave

1.1K Followers

CEO of Media Shower. Publisher of Bitcoin Market Journal. Author of Mind Hacking. Making things better.