Wednesday, September 5, 2018

"Someone paid $170,000 for the most expensive CryptoKitty ever" (ETH)

Following up on June's "CryptoKitty Trading Volume Collapses: Andreessen, Union Square and Climateer Hurt Worst"

"...For all those whose cares have been our concern,
the work goes on, the cause endures, the hope still lives, 
and the dream shall never die."

From The Next Web:
Dragon is one special kitty!
Blockchain-based game CryptoKitties has seen the highest trade volume since February over the past 24 hours, and it has only one cute little kitten to thank for it.

Someone purchased Dragon, a CryptoKitty, for 600 ETH ($170,000 approximately) on Tuesday, making her the most expensive kitty to be ever traded in the history of the game.

Dragon broke the record of Founder Cat #18, which sold for 253 ETH ($110,000 at the time of sale) in December last year.

On primary inspection, Dragon looks like your average CryptoKitty. She’s got average looks and average attributes (called “Cattributes”). Remarkably, she’s a ninth generation kitty – earlier generations tend to be more expensive. Overall, she doesn’t fit the stereotype of what an expensive CryptoKitty should look like.

This is how Dragon describes herself on the CryptoKitties website:
Salutations. I’m Dragon. I bit Rebecca Black when I was younger, but those days are gone. Believe it or not, spying on the neighbours is seriously exhilarating. You should try it some time. Let’s connect on ICQ.
With her looks out of the window, there can be only speculations on what makes her so precious. Perhaps the buyer and seller wanted to make a transaction anyway, so they traded this CryptoKitty? Some speculate it could be money laundering....MORE
Of course it's money laundering. Or more accurately, laundering ETH, which is down another 10% 14% today.
$244.40 down $40.83 (-14.3148%)
   
The quote at the top is Ted Kennedy when he lost the Democrat nomination to Jimmy Carter in 1980.
That address to the Democratic National Convention was ranked as number 74 of the top 100 American speeches of the 20th century.
I last used it in Dec. 2016's "Pee Power: The Dream Is Dead", on the lies underlying the hype of the Nigerian-pee electrical generator.
Additionally the four-year, EU financed multidisciplinary ValueFromUrine Project wrapped up August 31 of '16.

Previously on the CryptoKitty dream:

April 14 
"How we made $100K trading CryptoKitties"
Not us, we're HODLers, this guy:... 

March 22
Matt Levine's Meow Culpa—CryptoKitties, An Exegesis
Following up on Thursday's "Matt Levine Writes About CryptoKitties..."
FT Alphaville's Matthew Klein directs our attention to Mr. Levine's Friday Bloomberg View column....

March 22 
Matt Levine Writes About CryptoKitties ("this column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners").
While we haven't heard Mr. Bloomberg explicitly state that he is in favor of CryptoKitties, it is difficult to see how he could argue with the comfort they bring as an antidote to the hurley-burley of daily life.*
Not to mention the "CryptoKitties as an asset class" angle....

*You can see the evolution of our thinking from November 2017's "Kittens On the Blockchain Is NOT the Future I Was Promised" to March 7's "The Blockchain Is Just Another Way To Make Art All About Money":

At least I'll always have my CryptoKitties. Besides being cute as can be, I was told:
CryptoKitties Sales Hit $12 Million, Could be Ethereum’s Killer App After Al
Through March 11's "Elaine Thinks About Signaling and Destroys My CryptoKitties Dreams":
Her piece was written a couple weeks ago i.e. at least two cryptocurrency price tumbles ago.
Think of a waveform, but not the smooth, soothing shape of a sinusoid. Rather think of a faux quasi-periodicity with just enough regularity to trigger a mirage of pattern recognition, just enough to suck you in, across the event horizon of speculation into the madness of Hunter S Thompson:...
https://cdn0.tnwcdn.com/wp-content/blogs.dir/1/files/2017/12/cryptokitties-1592x808.png
"Still humping the American Dream, that vision of the Big Winner somehow emerging from the last minute pre—dawn chaos of a stale Vegas casino. Big strike in Silver City. Beat the dealer and go home rich. Why not? I stopped at the Money Wheel and dropped a dollar on Thomas Jefferson—a $2 bill, the straight Freak ticket, thinking as always that some idle instinct bet might carry the whole thing off. But no. Just another two bucks down the tube. You bastards! No. Calm down. Learn to enjoy losing.... 
 -Fear and Loathing in Las Vegas

Excuse me, I have to take a moment