I am sure others have this question in their mind when they see people buying NFT for millions of dollars.
Question: Are people who buy and sell NFT for millions in it together?
Purpose: To make “headlines”.
To broaden the NFT market.
To convince naive people “you can do it too!”
To convince naive people “NFT is worth Millions”
Who benefits:
NFT trading platform
My take:
The world is a confusing place to live in for a small fry like me.
@[Deactivated]: There is no hindsight here.
Bitcoin is a long term play. The core purpose for Bitcoin hasn't changed since the first block.
People that invest in Bitcoin today are doing it for the same reasons as those 9Y ago. People that bought Bitcoin in Nov 2021 and sold at a loss bought it for the wrong reason.
sounds like Fyre festival… we all know how that ended
Of course they're a scam to the point of literally selling the NFT back to themselves to inflate the price
It’s just sad. Even if it is not NFT, people will do the same thing over and over again with other stuff.
Point me towards one significant NFT sale where the buyer wasn't heavily invested in crypto.
"Visa isn’t planning to become an NFT investor. It’s not even holding the asset on its balance sheet. Angelos considers it “a piece of commerce memorabilia that we wanted as part of our collection.”
So a multinational bought an NFT for the headlines it would create, I'm still not convinced.
you just said point to a significant NFT sale… i'd say $140k is pretty significant. and proves it has utility - marketing!
Good thing the rest of society isn't waiting on you to be convinced before it moves forward…
Budweiser Buys Beer.eth Domain Name for 30 ETH, Rocket NFT for 8 ETH
Sebastian Sinclair August 25, 2021·1 min read
https://finance.yahoo.com/news/budweiser-buys-beer-eth-domai…
See above comment.
The Greater Fool indeed
Bring back beanie babies i reckon
Most NFTs sell for under $200. Only 2.5% sell for more than $700.
https://thatkimparker.medium.com/most-artists-are-not-making…
So even with an NFT bubble, artists have a 97% chance of it not being worth their while.
Most NFTs sell for under $200
Minus the eth gas fees to mint the NFT, plus sale % fees
So how it works.
Person A buys shitty NFT and hypes it up on tiktok/youtube
Person A then sells shitty NFT to Themselves/another friend as another alias.
Person A then buys shitty NFT again at inflated price.
Rinse and repeat until NFT is 'suddenly' worth $10,000 and wait for an unsuspecting victim to break the cycle and buy it.
Yes
It's a scam
Melania?
Its not a scam .
If it was why are certain sectors that are the largest manufactures on the planet getting involved with it with more due diligence than I can carry out ?
Sure there is some BS head lines but behind the scenes there a a minefield with a lot of duds with gold buried in the field .
Simple locate the gold that is a very small % in the marketplace hehe :)
Since knowing how to operate my gold detector most of my spare cash goes to the gold find and I'm way ahead if I sell out at current market prices .
`^ I can think of so many applications in OZ but its virtually a virgin market here .
Anyway growth :
NFT transaction totals have risen from $40.96 million in 2018 to $338.04 million in 2020.
2021 : Around 18 Billion total . https://cointelegraph.com/news/nft-sales-boom-but-ownership-…
The growth won't stop .
if it was why are certain sectors that are the largest manufactures on the planet getting involved with it with more due diligence than I can carry out ?
Because they have the money and influence to manipulate the market or for marketing or both.
The founder of news site TechCrunch is using an NFT auction to sell an apartment
Carla Mozée May 26, 2021, 4:00 AMTechCrunch founder Michael Arrington is selling an apartment via an NFT auction.
Propy, a blockchain-based real estate platform, is running the auction with bidding starting at $20,000.
The winner of the NFT will also win the property rights to the studio apartment in Kiev.
https://markets.businessinsider.com/currencies/news/nft-tech…Sold for 36 ETH.
https://propy.com/browse/propy-nft/According to a California-based real estate technology company called Propy, a four-bedroom home in Gulfport, Florida, will be tokenized leveraging non-fungible token (NFT) technology and sold for $650K. In addition to the Gulfport home, another blockchain project has launched aiming to purchase The One Bel Air 105,000-square-foot megamansion by creating a decentralized autonomous organization (DAO).
BLOCKCHAIN by Jamie Redman 23 hours ago
https://news.bitcoin.com/florida-home-to-be-sold-as-an-nft-d…
Buy a perishable link to an image without any utility? I can't think of anything that has less value.
But money launders gotta launder, and meta universes gotta try and normalise digital purchases.
This is a fairly good explanation about NFTs and worth a few minutes of your time https://youtu.be/0pWTRsztTtY
Its as much a scam as the traditional art market…
- Artist releases a limited edition print and you "trust" that artist to only print that many… there's nothing stopping them from printing more except the damage it would cause to their reputation. This same rule would apply to someone like beeple or any other NFT artist… if they do this they will never sell another piece again, in fact some NFT's have a percentage of the resale value programmed in to go to the artist… a diminishing resale price because of the above situation would only hurt future revenue. If an NFT artist did this - it would be pretty transparent whereas reprints could be issued pretty quietly in the traditional market and go by unnoticed.
If you want to talk about money laundering then the traditional art market has it in spades and has been a subjectively valued asset in which to launder money or use as an engine to avoid paying taxes for the rich for years.
traditional art markets are full of terrible art and terrible artists riding on the coat tails of innovative and revolutionary artists. that doesn't invalidate the good artists and their work.
Everything about art is illogical and based on subjective reality - how is a jackson pollock worth what it's worth? it's literally a guy throwing paint at a canvas!!! Culturally, someone finds this significant and worth celebrating. Probably because some art people with authority to tell everyone what is art and what is not said it was. If you don't like bored Apes or crypto punks, thats cool… but who is anyone to tell you what is art and what is not and what is a legit medium on which to produce said art on?
I might just add as a foot note that NFT's go beyond representation of ownership of a jpeg and can literally represent ownership of anything and the law will catch up to this and begin to leverage it. In the meantime, the utility of an NFT can be used in situations like memberships, the presence of that NFT in your crypto wallet can be detected by a web3 site and grant you access to parts of the site that someone without the NFT is unable to get to. This would replace the need for you to hand over your personal details to create a login and thus have your identity security at the mercy of the site owners.
There's no scam in the NFT space that does not exist in the traditional art space but there are many features and advantages in the NFT space that don't exist in the traditional art space.
Its as much a scam as the traditional art market…
Except with the traditional art market you actually own something that others don't.
NFT: you own a link to a picture of the Mona Lisa
Art: you have possession of the physical asset
well… yes and no…
if you own the mona lisa - you probably have some sort of documentation stating that the republic of France sold it to you on a certain date under certain conditions. It might even say that the purchase happened under the condition that the artwork stays on display in the Louvre. Incredible! Congrats - you've officially made it in life and you are most likely in the top 0.001% in terms of wealth…. but wait! The French aint too happy about a state owned asset like that being sold to a private collector and they riot in the streets and pop old Mr Macron into the Guillotine… The Louvre is seized and under a new republic ownership and possession of the artwork is given back to the state. what do you own now?
This condition also exists in regards to NFT as you have pointed out the Louvre is very similar to a URL… a place controlled and maintained by someone to hold art.
NFT standards will likely move towards tight integration with IPFS so that the storage of these digital assets is decentralised so the old louvre situation cannot happen to NFT's but you are right in the fact that until this happens you are at the mercy of the person maintaining the URL resource. Let me ask you… if this issue was resolved would it make you change your mind on NFT art?
You seem to have completely missed the point. The point is with an NFT, you own nothing, it is not a right of ownership of the url, the picture or anything at all, it isn't even a guarantee that you control said url, anyone else can freely use it or even create other tokens to it on other blockchains, the original is not owned by you and you have absolutely no rights to any asset beyond the token that exists solely on the blockchain. If you used the louvre example you didn't buy the painting you would be buying a certificate of authenticity with zero ownership of anything else.
Or perhaps you can think of it like you bought a print of the mona lisa, except in the NFT world you have paid for the print as if it was the original and ignored the fact anyone can print millions more..
The point is with an NFT, you own nothing, it is not a right of ownership of the url, the picture or anything at all,
This depends on the NFT. Some give property rights like Michael Arrington's NFT that sold for 36 Ether that included the property rights to an apartment.
BAYC NFT holders own the NFT and the IP rights for that NFT. They can monetize it.
"Simply put, they can make and sell prints, T-shirts, coffee mugs, etc. using the IP of the BAYC NFT they own. Indeed, some have taken their IP rights to a whole new level, created music groups and animated shows based on their BAYC's likenesses."
@gromit: Ok mate… you go and right click and copy a bored ape, mint a new NFT using it and then go have a chat to sotheby's about selling it for you.
or you could try and cross mint your Ape at the BAYC to mint your mutant ape….
see how you go getting into the BAYC with your fake Ape… it's not gonna happen and this is what most people who shout scam don;t get… there is a full on internet culture emerging and NFT is the programmatic key to belonging and interacting in that culture - it doesn't just represent ownership… it represents membership too - a membership which entitles you to ongoing perks and community engagement by merely holding the NFT.
I see where the people who shout scam are coming from because before i engaged in NFT's and this internet culture i thought it was a pointless fad as well but once i started to experiment it all clicked… you don't need $300k to buy an Ape and explore this concept - go and find a DAO to do with one of your interests and mint/purchase an NFT to join the DAO and get involved.
That the beauty of some NFT's you own the right to the physical item and can burn the NFT and redeem your token.
Your choice keep it digitally or have it in your hands .
Didn't a certain ex-First Lady invested heavily into this recently? I didn't really read into what NFT really is. Now that this is voted as a scam by the OzB community everything makes sense.
A good overview (both positive and negative) of what NFT is by Mrwhosetheboss
Mrwhosetheboss
https://youtu.be/0pWTRsztTtY?t=100
Every fiat note is serial numbered. They have the same face value and is fungible as a medium of exchange but non-fungible as an asset.
Mrwhosetheboss should stick to reviewing mobile phones.
NFTs remind me of Tulipmania.
Were you there to remember it?
This gives new meaning to boomers.
There's this thing called a history book where people who weren't alive at the time can find out what happened.
How many here have read a paperback of the Tulipomania?
No one knows what’s going to happen, but everyone is on FOMO mode. Even the tech companies that are investing on it. For some it make sense with micro transactions making certain companies so much money over the recent years.
I have very limited knowledge on this but a family member was trying to explain it to me like it is the same as owning a first edition of a novel. You don't own the copywrite and the author can generate more editions but you have the "first edition". So this can now extend to digital art, digital music etc - eg imagine if you owned the first digital edition of Billy Ray Cyrus - Achy Breaky Heart!
If this is right, then for me it comes down to how "robust" the ownership verification is and that's where I get lost in the technology…
I think nothing stops the "artist" to release the same exact file another thousands times as NFT's.
While traditionally an actual painting or sculpture cannot be replicated exactly, you can't make two exact copies of a hand painted picture.
I can't think of anything that will sooner or later more likely implode than NFT (and crypto).
A large part of what gives first edition books and other collectibles value is that they are a tangible link to history. NFTs do not offer that.
An NFT provides irrefutable providence.
If I can experience the artwork in the exact same way without ownership what value does it provide? If it included excluding commercial use rights then yeah I can see value there but the large majority don’t.
@Cheaplikethebird: Art is subjective. Art for you may not be art for me.
I like to own assets that I can leverage against. I don't care if it's an NFT, coins, stonks, metal, real estate or a tungsten cube. If it's trades and can be leveraged then I'll trade it.
However, I prefer sovereign assets with high liquidity, cheap to store, low maintenance, easy to secure and mobile.
@rektrading: Good or bad art I can still experience it in exactly the same way without ownership, so the argument that art is subjective doesn't really make sense here unless it's all part of some elaborate performance art piece.
@Cheaplikethebird: There is "value" in first edition books though…even Harry Potter first edition has value to the right group of people.
@Mulga Bill: Yes that's what I'm saying, physical first edition books have value because they are a tangible link to history and have rarity. Nobody's coveting first edition ebooks.
I don't really buy useless JPGs much. Now i'm more into Metaverse lands. For more solid projects i am more confident in, like Sandbox, i am staying much longer as more partners are jumping (Gucci and Ubisoft yesterday). For smaller metaverse projects, i just mint at launch and flip the land.
End of day, whether some is stupid or not, or whether it's a bubble, if there's money to be made, that's good enough for me. Just don't be left holding the bag. But it gets a bit tricky when you have NFTs and ETH starts pumping.
Remember that the Metaverse is not a new concept, it was there already 15 years ago, it was called Second Life, it had its own currency and companies were investing heavily, until everyone stopped and left it there, with lots of people losing their money
Plus I don't think there's a limit on the number of metaverses that can be created and "mined".. Gold is valuable because is limited, Metacerses are not.
And now you are trying to "time" the market by buying now for more later, but you don't know when the whole blockchain bubble is going to burst, could be next week (especially now after Meta stock lost over 20%), could be in 5 years, who knows.
I know about Second Life. Like i said, i prefer more established Metaverses like Sandbox. I got in early last year at a fraction of the price so i'm not complaining. Who knows when bubbles will burst? Property market could burst tomorrow, stock market, bond market. If i have the constant fear of bubbles bursting in everything i invest in, then i will just be sitting on the sidelines forever and just have money inside my bank account earning 0.05%.
Be smart about it, don't FOMO into things. Take profit when you have to. Don't overstretch. Things you believe in, keep it a bit longer. It's not hard. Remember how everyone was calling Bitcoin a bubble at $1000? I do.
Stock and real estate have an underlying intrinsic value, that can crash but then the eventually come back, real coins have their own nation economy to rely on, for crypto and particularly NFT, the only value is the market value, nothing under the bonnet. Hence more prone to volatility and more likely to be wiped form the face of Earth
@rektrading: No, but that's not my point, point is there is something real behind a stock. Can be a good or not so good company, but the value is given by many underlying factors, such as revenue, market share, profit, outlook etc. FB can go up or down heavily, but can't disappear unless the whole company goes down, which is quite unlikely, at least in the short-medium term.
Crypto and derivates such as NFT have no value. It's the tulip bubble all over again. They will cause the next big market crash, as they are now so large in market cap that they will surely bring down the whole stockmarket with them, maybe something will survive out of this, who knows, maybe a more regulated and reliable type of crypto, tied to something more tangible… for sure millions of people will lose a real lot of money. I'm still waiting for nations to collectively ban current crypto and NFT trading and treat them like gambling
@liongalahad: You clearly are not a fan of crypto. So there is no point in me wasting precious time to convince or educate you. Let's just leave it at that.
If you are interested in reading up some books about Bitcoin and learning more. Let me know.
@Tiredman: Mate, reality is you are putting money into something that has no intrinsic value whatsoever, the only value is the value people give it and it can change suddenly and even disappear. These are hard facts and there is no other way to see them, same as saying two parallel lines will never touch in the euclidean space, you can argue as much as you want, it won't change this fact. And on top of it it's something that wastes huge energy to be produced (at least when it comes to Bitcoin). If you are OK with this then go on, Im not the one stopping you.
End of day, whether some is stupid or not, or whether it's a bubble, if there's money to be made, that's good enough for me. Just don't be left holding the bag.
So you have no problem participating in a scam … as long as someone else is left holding the bag, you are good with that?
Trading isn't personal.
Financial markets are free markets. People should be allowed to trade whatever they want as long as the participants are doing it willingly and it's not against the law.
An NFT is just a link to a file. There's no limit on how many of these links can be made. The file can be changed at any time as it's by definition centralized and controlled by one entity.
It is 100% a scam. Trying to create artificial scarcity in a digital world. In a decade we'll be talking about NFTs the same way we refer to Tulips and Beanie Babies.
The sales of $X million dollars that regularly hit the media are all self trading. I buy my own NFT, and wait for an idiot to come along and think they'll get a bargain when I advertise it for 10% off.
An NFT is just a link to a file. There's no limit on how many of these links can be made. The file can be changed at any time as it's by definition centralized and controlled by one entity.
What?
An NFT is immutable. Nobody can change the record.
Nobody can change the record. But the 'record' is a URL pointing to a webserver.
The content isn't on a random webserver.
It's stored as multiple copies on a decentralized network. Changing (hacking) one copy of the content doesn't change the original content. The hacker has to take down the whole network to change the original content.
@rektrading: There is no requirement for an NFT to point to a decentralised network. (which have their own problems, someone has to actually host your file after all)
An NFT can point to any webserver, or none at all.
Images are hosted on IPFS, you are completely off in your statement.
This whole thread is filled with people who don't know anything about software engineering and want to share their lack of knowledge.
Most of the replies here are from people that don't work in the industry and have NFI.
People should stick to their circle of competence.
100%
May if some people in this thread passed at least blockchain kinder garden they might understand the power and applications they can be used for .
"An NFT is just a link to a file. There's no limit on how many of these links can be made"
Can you make me some original apes and punks from the contract?
They've to fork to do that.
Yep.
Isn't this for money laundering? same as billionares moving their money in the art market
NFT's are absolutely a scam.
If you are curious then take the time to sit down and properly understand what they actually are and how they work. It is completely nonsensical.
I mean even NFT's enthusiasts have trouble explaining it how it makes any sense.
ie, You 'buy' some digital art….
Ok, so do you own the art now?
- Nope.
Who owns the art then, who has the copyright?
- The artist.
Did the person selling you the art even own it?
- Not necessarily.
Could the person selling you the art (that they many not even own) sell the same art to someone else?
- Yes.
Is the art even inside the NFT at all?
- Nope, usually just a link to the art. - That's right, a URL pointing to a random website where an image is hosted. A website that could disappear completely, delete the image, or even just swap the link to some other image lol
Nft's and Bitcoin is all a scam go make the people who create and market them money. Simple as that.
It seems People have a lot of money that they do not need. They gamble on these stuff, Hoping the price of the NFT they bought to go up in value. It is just like buying a lottery ticket. I see no wrong in that. You are in it for quick gains.
But, I cringe whenever someone say “I believe in this project”. What does it even mean? I pity them. Their need to belong somewhere is making them tunnel visioned. Or they are real sociopaths trying manipulate naive people.
I see a lot of youtubers and comments pumping these nfts and token, just dump few days later. Real nasty people.
Yeap leave it to me and my gold detector to figure out the beeps and which one to dig for.
Its beyond comprehension the understanding of them especially for distribution of certain items .
I'll battle it out for the targeted items .
Too bad the people I battle to get them don't have the attitude of most in this thread hehe :)
You made money, I get it. You bought an NFT that someone cooked up in 5 minutes and then sold it for 2ETH profit. And the guy bought it from you might have sold it for a profit too. I am not saying it is wrong. But, what was your intention? Making easy money right? It is like bill gates buying some piccasso art for $5mill and selling it a new billionaire for $15mil. This happens. The new billionaire will sell it for $30mil in few years. I don’t say it is wrong. It is not a scam either. Intention was to make money.
But, you are talking like you are part of some sort of movement to improve humanity. No you are not. You just feed off greedy people, and may be they deserve it. Just don’t complicate things. Just sit and reflect. You will understand.
NFT's will be used as a token of identity at some point and this will eliminate the massive database breaches that happen and leave peoples personal info out on the dark web to be bought and abused… so it may be doing big things for humanity… they will be a big part of re-anonymising people on the internet (once Web3 goes mainstream)
NFT's will be used as a token of identity at some point and this will eliminate the massive database breaches that happen and leave peoples personal info out on the dark web to be bought and abused
why would you need an NFT for that?
That seems like trying to force a solution to a problem that can be solved in many many better ways
(and already has, just has not had adoption as companies want to store your info/credentials)
@SBOB: Land titles in Australia are controlled by private companies that charge $100s.
Land titles on a network like Solana cost 1 cent.
A driver licence in Australia cost $100s per renewal.
An ID system on the Bitcoin network costs 1 cent per Tx.
Think of all the licences and certificates you've and how much you pay for them.
Now imagine they cost 1 cent each on a decentralised network.
How much did you save?
A driver licence in Australia cost $100s per renewal.
An ID system on the Bitcoin network costs 1 cent per Tx.
The cost of the transaction for a licence is not the cost to perform it, it's the tax/fee being charged by the government to have one.
I agree with some of your crypto shillings, but some, like this, are just idiotic
@SBOB: in this situation you own your identity… for a web3 site you can mint an NFT using their contract which would create you an account. then whenever you go to that website it uses your NFT to verify you and log you in…. They don't have my email address or my password stored in a database ready to be hacked. in fact if they were compromised there would literally be no user details to steal and sell on the dark web.
in this situation you own your identity… for a web3 site you can mint an NFT using their contract which would create you an account. then whenever you go to that website it uses your NFT to verify you and log you in…
Which could be done more efficiently and simply using a basic public private key exhange
Eg sqrl already solved this problem and it's going to require less resources, less block chain, and less nft shilling to solve the same problem.
in this situation you own your identity…
And if you lose your encryption key… then you no longer exist? haha
@SBOB: Australia will be holding a federal election in 2022.
Think of the time and cost (fuel + wages + sales) you waste having to vote.
Now imagine you sit at the beach and vote using your 📱 and it only cost 1 cent.
Don't think about what NFTs can be used for but rather what it can't be used for.
Now imagine you sit at the beach and vote using your 📱 and it only cost 1 cent
So you're saying you in favour of a national identity card/identified?
I don't see how an nft is needed for this solution.
All that is needed is that averyone so supplied or generates a public private key
This already exists in at least one country (Estonia) identity documents and requires 0 nft-ness
Again. I agree with some of your Crypto shilling, but some is just looking to solve a problem that could be better (or already has been solved) in a more simple or elegant non Cryptocurrency/NFT/blockchain method
@SBOB: Imagine the government cancelling your right to vote by not accepting your public/private key. The only people who could see the fraud? yep - the people who control the single database that your keys authenticate to…
ahhh who am i kidding… you guys have made up your minds. I don't know why i bother… Enjoy being poor and scared in a new world where you don;t understand whats going on because you're ideologically opposed to something you decided was a scam years ago.
Imagine the government cancelling your right to vote by not accepting your public/private key.
How does an nft change this? It doesn't.
The claim was an nft was to be used for identification.
So now you've gone from that, to voting being completely on a non government controlled open blockchain based method?
Good luck with that.
Being able to sign a tx to say I am me, and I own this token that was minted offers nothing over justing being able to sign a tx to say I am me
How do you think crypto transactions happen currently for all those non nft based txs?
An nft offers no additional security and just adds a solution trying to be crammed into a problem that doesn't need it.
ahhh who am i kidding… you guys have made up your minds. I don't know why i bother… Enjoy being poor and scared in a new world
Why do you assume those posting comments that aren't just frothing over crypto don't actually own crypto as part of their investments/play money funds?
Sure…we can't all be crypto bro millionaires like some on here claim to be, but perhaps not having gotten rich on koolaid sales might mean they see the koolaid more clearly.
@rektrading: Engineers need to pass system design interviews. You are proposing an infeasible solution for a already solved problem.
Public Blockchains are boasting about anonymity. You are talking about attaching your identity to a token, anything you do can be traced back to you. Then why bother with blockchain in the first place.
Say you identity is stolen. Now we don’t have a reset password button. What do you do to get the rights to vote? Fork the block chain from where things went wrong?
Someone was talking about land Title on Solana. Say someone else started to build something in your land. How do you propose fight your case? Take your wallet to court? Say the guy built the house on your land had the title in another blockchain, say through an ethereum contract, how do you fight your case?
It is like, we have a hammer and everything looks like a nail to us problem.
Public blockchains have no real use, other than serving drug addicts, child molesters, terrorists and people want make quick money.
Private blockchains will be used by banks and governments and thats where it belongs.
There are lot of smart sociopaths in this game. And they know what they are doing. And they use the power of marketing to attract easily impressionable people to create a following around this trend. They will make billions. They will make some of the followers some money to make the following bigger.
If you are someone with a normal human iq, then you know you are in this with the purpose of stealing money from the greedy and naive. Otherwise, I am
very sorry for you.
Someone being major global company's that we all know the name of ?
Also I think a lot of early crypto 'investors' made a lot of money (almost accidently) and now fancy themselves as investment gurus.
They buy into all this random stuff because they think they are visionaries and will make a billion on this junk.
Crypto will burst SO HARD when the next market crash happens.
NFT's will go down in history as an amusing footnote allocated to 2021/2022.
As always there will be money made and so much more lost. Smart traders have smart systems that will automatically sell when the price drops past a certain %. Many retail investors wont do the same (Diamond hands and all that). Its gambling, just not at a casino.
The "echo chamber" is so hard in this thread. It's like the OP went on top of his hill to get support from people that had the same view as him. NFT's are breaking what is a very controlled and centralized art market. Previously, you would need to work with art dealers etc to verify artwork. With NFT's, every transaction is on an open blockchain. So it let's people create and trade art easily. It is also "programmable". So right now, the nft could be a static meme or picture, but other capabilities could be added in the future. For example, other dapps using the nft and then paying a royalty every time it's viewed. This model can be applied to things like music, (for things like secured drm) reversing mp3's basically.
At this stage 291 have voted SCAM Vs 10 NOT A SCAM .
My suggestion is watch Dumb and Dumber .
Gm fam,
Today will be a great day.
Meanwhile somewhere across the world in Canada.
Canada not wanting to be left behind.
Game theory accelerating.
https://twitter.com/JeffBooth/status/1491582876260859908?s=2…
Enjoy.
GM Fren
It is bit ironic isn’t it? The movement is against centralised systems. And now a member of the mother of all centralised system announces something on blockchain and you are happy about it.
It is just like why Australian government can not do anything about Real estate prices going out of hand. All of them in the government own multiple properties and they would not want their investment to go down. I bet She or her supporters are heavily invested in crypto and they want a piece of that 3 Trillion dollars in their pocket or in her country. There are a lot of smart sociopaths in this world.
Wake up buddy. You made your money, but don’t try to phrase it like you did something honourable to earn that. You stole some money from a naive kid that worked his ass off at Mc Donald by giving him false hopes.
Youtube is full of people who has no idea about basic economics. I am not as smart or famous as the guy when it comes to how to rake money from youtube, but I know a thing or two about economics.
He talks about inflation as it is bad. Inflation is there for a reason. Because of inflation people invest money on themself or on their businesses or others. Because, they know if they kept it in their wallet, its buying power reduces over time. This encourages spending, spending promotes production, production lead to inventions and inventions lead humanity forward.
Higher inflation is a result of behavioural economics. Weather its is bitcoin or fiat, if everybody spends their wealth the next day they earn it, inflation is going to go up and up. Since you can print more bitcoin, to bring the inflation down people / consumers will downgrade their life style. The rich will be super rich and the poor will live in slums in Australia.
Say, bitcoin became the currency of the world and Corona hits it. No one is going to give hand outs to those who lost their job. What will those poor souls do? They wait for some time and then will go robbing, killing etc. The humanity will go down.
These crypto and nft supporters are 2 types. One : ultra smart sociopaths who know that they in it for the money. Two: People who cannot think of two step ahead in chess and need someone to follow.
Not that you guys would like his music, but Tom MacDonald bought the NFT to one of Eminem's song's and did a reply song that made him quite a bit of money … so it can be a thing, but a little obscure
Centralized fiat 💵 vs decentralized 💵.
Ontario court freezes access to GiveSendGo donations for truckers’ protest
STEPHANIE TAYLOR OTTAWA THE CANADIAN PRESS PUBLISHED 1 HOUR AGO UPDATED 41 MINUTES AGO
https://www.theglobeandmail.com/canada/article-ontario-court…
Indeed…. if people want to fund violence and protests in another country, the government of that country should be completely unable to prevent that..
right?
though at least it was DeFi, and they raised a heap of money, but then the organisers cancelled and refunded it all..
The crypto fee takers would be happy
https://www.theverge.com/2021/11/24/22800995/constitutiondao…
@rektrading:
You have the benefit of hindsight. The fact that you can't see that is hilarious.
If BTC never recovered after the first crash then you'd be saying "people should have invested in {x} instead, they deserve what they get"