Thread by @AlexandraErin

Fyre Festival crossed with that crypto cruise ship times DashCon to the power of Bioshock divided by Jurassic Park = virtual hilarity

https://twitter.com/molly0xFFF/status/1478500436873293828

I keep seeing prospective Cryptolanders repeat "Fiji has great weather year round" and it reminds me of "Superhot is the most innovative shooter I've played in years!" and I'm hoping this thing is a pure scam because people are 200% going to die in a tropical storm if it's real.

It legit seems like the founders' emergency response plan is "Pretend emergencies are impossible," which in fairness to them is clearly a strong plank in how we do things in the US.

Granted, if a literal colony of cryptobros are wiped out by a climate disaster they pretended was impossible... that would be poetic.

I wonder if the reason they are filtering US residents out is a hope of avoiding attention from the feds for what is either outright fraud or a scam that borders on suicide cult?

https://twitter.com/molly0xFFF/status/1478557404082188294

I did a quick Google search in case "garbage storage room" is merely a term of art I am not familiar with, and it left me with significant doubts that they have thought through the most basic sanitation infrastructure for Perpetual Manchild Island.

https://twitter.com/molly0xFFF/status/1478574902898794498

I wonder if they're pulling a Producers scam? Sell as many parcels and "Connie" NFTs as they can before it falls apart. If they somehow sell all of the plots, they can (probably legitimately) claim to be tied up in administrative, legal, and logistical hurdles indefinitely.

So the project fails before Cryptoland ever opens (best case scenario for the "investors", to be honest) but there's no centralized authority to demand an accounting of where the money went or get it back for the duped customers.

And because no one sinks costs like a cryptobro, the people who paid a mint to "mint" a plot of land on Fantasy Island will defend it harder than anyone else, likely going to their graves insisting they backed something too beautiful for this sinful earth, and they'd do it again.

Heck, they probably *will* do it again, when the original scammers blow the take on somebody else's cryptoscam or run out of money and come back to the well for round 2, looking for funding to "complete the work on Cryptoland" or "rescue the money already invested" or whatever.

Also, for this, their (already tiny) island must be pre-divided into plots that are larger than 1 acre, that are designated for you when you buy your 1 acre, but which you "unlock" over time.

They created artificial scarcity. For island real estate.

https://twitter.com/molly0xFFF/status/1478502255980601344

This is the most hilarious thing to me. Cryptocurrency and NFTs are based around the gratuitous, benefit-free, and unnecessary injection of arbitrary scarcity in virtual spaces where it does not exist.

Cryptoland applies that principle... TO A PHYSICAL ISLAND.

This is tickling the part of my brain that is singing "Springtime for Hitler" over this.

If the island fund is separate from the land sales, the island funding can fall through even if they sell all the parcels of land.

https://twitter.com/molly0xFFF/status/1478593416019722242

Note that in real life, money is fungible. This is why it is useful when NFTs are not, and why crypto "currency" only has value insofar as it can be sold to someone else for real money.

Meaning if they do sell all sixty parcels and the Mysterious Island funding falls through...

... then they should, by rights, still have the money to buy to buy the island (low eight figures) out of their land sales. So specifying that the funding is separate seems sketchy.

Either they are afraid they won't sell enough parcels to cover it, or they are afraid they will.

The thing is that if they're not consciously running a scam, then the answer to all the holes people are pointing out in Cryptoland's "business" "plan" is probably "We'll solve that with the blockchain."

Which for real-world logistical problems means: mint coins = free money.

So now I'm trying to imagine them offering crypto coins to a sanitation company to save them from drowning in their own garbage.

"We prefer money."

"These are better than money. They're SOUND money."

"Our landlord likes money that spends more than money that sounds."

"Just one of these coins is worth five thousand dollars."

"So you give me the coin and I sell it for five thou..."

"NO! Do NOT do that. I give you the coin and you hodl it."

"I hold it?"

"Hodl. H-o-d-l."

"I don't kn..."

"It's like hold, but funnier."

"So if I 'hodl' this coin, that gets me five thousand dollars how?"

"You're thinking small, man. It's worth five thousand dollars today but tomorrow it might be worth ten thousand."

"And then I sell?"

"Are you kidding me? No. You hodl it."

"So where does the money come in?"

"The coin is the money. That's why you hodl it. Because it is the money."

"But if I can sell it for ten thousand dollars, that's a huge profit, right?"

"You think so small. Why settle for ten thousand when you can go to the moon?"

"Is... is the money on the moon?"

"#NGMI."

Granting that there is any plan for an actual physical island habitation, I wonder how much their touting of an "eco-friendly" vision is just a desperate attempt to keep the garbage scow to Garbage Storage Room on the mainland down to a weekly thing instead of multiple times/day.

Starting to see people with crypto profiles saying this is a satire and we're gullible for falling for it.

But also people are putting their money into it.

So I think we're talking scam with "bro it's performance art" as a pseudolegal defense.

I guess it would make sense that cryptobros would throw their coins away for a joke, as the truest believers think they have discovered infinite free money forever and everyone below that level of certainty at least suspects it's all worthless and fake.