I remember watching the infomercial at night with those guys who sold knives and swords and other junk in the 90s . One night they had the princes Diana beanie baby and like a Fourth of July beanie bear. They said you get them both for only $999.00 I thought $9.99 at first called my friends laughing our asses off when I realized they were a $1,000. Those guys were funny shit I miss watching them. Lol
What an awesome memory! Color was out before my time, but not so long that we didn't have a black and white. Watched a lot of cartoons in black and white in the late 80's.
You caused a flash back. We bought a lot of Beanie Babies for our daughter back in the day I even when to a Beanie Babies "convention" to get her some more rare ones. One night my wife and daughter came running down the stairs screaming "we are rich!" They heard the Princess Di Beanie Baby was worth thousands. We had one, but it was not the one that was the big bucks one. I think the one we had was worth about $100, so for a $9.95 purchase, not a bad return but thousands of dollars, no!
Beanie Babies DO have the value of being something that children can play with. Worth as a collectible item? No. But a good stuffed animal? Absolutely.
When I had kids my parents gave me a Rubbermaid bun full of old legos (not sets, just 50lb of loose legos). My kids were into legos too, so now I’ve got about 150lbs in two giant bins out in storage.
When they start becoming parents, they’ll each get inherit 50lb of legos. And a gun trust, but hopefully that will be a great deal later lol.
Lol! I've kept some random toys from the kids, about 2 drawers worth. One is full of Thomas stuff, the other is vehicles, characters, dolls, etc. I vacuum sealed a bag of soft/plush stuff. All with the intended purpose of breaking it out for their kids. I also kept a bike and have tried to keep papers of theirs. Unfortunately, I think my wife keeps tossing them thinking it's random school work. But I've tried to curate the better stuff, like contracts between the tqo of them for candy, code sheets, angry note, etc.
Legit I got a furby for my 7th birthday and it said something along the lines of "let's have sex". It was very clear and totally inappropriate and both of my parents were right there and heard it too. They threw it away immediately and bought me a bb gun.
Never shot one of my eyes out but I did kill a starling and felt pretty bad about it. Didn't think I could make the shot.
I also shot this mean german shepherd that came tearing after my rat terrier up my driveway. He chased me and my brother on our bikes daily, but always stopped because he was on a proximity collar. One day he got fully out and went after my dog while I was on the porch shooting cans.
TAT! Ark! RooRooRooRoo! He turned around and limped home at a clip.
A couple weeks later I took manna on a walk around the neighborhood and that shep saw him, squeeled, and ran toward his house. I'd never been so proud.
The girl who's family owned the shepherd went to school with me, and I told her I shot her dog, and why. Her mom sent police to my house and my mom willingly relinquished my bb gun to them without question. I'm still working on forgiving her for that.
Indeed, quite impressive actually. I always though those were neat little toys, not enough to have one myself, but my kids did. They all died. The Tamagotchi's that is.
I've heard rumours that they hatch and fly to space if you keep them alive for a whole month. Probably just an urban legend, given the unlikely hood of any child ever accomplishing that.
The difference between a NFT and a patent lawyer is the price, nobody would pay thousands of dollars to a lawyer to protect a JPG.
And while you obviously won't have the law reinforcing this ownership, the way Hollywood hunt down movie pirates, it's not a dumb idea to have a solid record showing that you were the original creator of something.
We live in a clown world were stolen memes gets reposted all the time, more JPEG added for every repost, plus shitty watermarks that someone clearly attempted to remove but failed miserably. Is that what you want the internet to be like? That's just retarded.
They are virtual trading cards. Like, that makes sense to support a person or artist you like for other work they do. I would prefer that to the woke Patreon bullshit or whatever.
Many digital currencies have value inherent to the data they represent. Many of these currencies are built upon geolocation data, or marketing data, helping logistics and commercial developments, and their value is based on the value that companies and individuals place on that data.
For example, XYO is one cryptocurrency which is based on geolocation data. The project utilizes participants mobile devices to gather data of where the device is located in the real world, and then that data is authenticated by other nearby devices via Bluetooth.
The data is then used in a variety of ways: to improve existing geolocating technologies such as GPS and cell tower triangulation, to provide marketing data to firms seeking high traffic areas for real world marketing campaigns, and in the manufacture of more innovative technologies and products. ( an example of the latter would be fobs or other devices to be placed on keyrings, vehicles, shipping containers, or other valuable assets in order for people to easily locate them through apps while also validating the location by again, using other devices within Bluetooth range, as confirmation). It's essentially providing more reliable data than previous technologies, and companies see value in that reliability.
Other cryptos are based on other applicable data sets, from sales and cash flow data to media usage, etc.
Digital currencies have value because they're actually useful as a store of value and medium of exchange, NFTs are literally just digital images that have no practical purpose.
I'm really not convinced in cryptocurrency's long term viability as a store of value. We had a lot of people buy in because the value was going up: they saw it as a risk but accepted it for the potential profit. As cryptocurrency stops being a money maker, and just becomes a store of value, I wonder if people outside the enthusiast community will still be interested. And if it does become just an enthusiast thing, there's no way it will keep its current value.
The true value is within blockchain, look at Amazon AWS, Google cloud, M$, Apple, Oracle etc, some of the highest valued companies in the world, what do they all have in common? Massive data centers storing data.
The problem with these however is that they rely on fiat payment processors to allow them to operate. They could all get cancelled by the click of a button if they don't cancel your account and goes woke.
Blockchains not only store and transact data, they also introduce the cryptocurrency. A specific digital currency used to pay for transactions on that blockchain. It's a decentralized cloud without middlemen to control what can or can't be stored.
The base value comes from the electricity (energy) needed to mine the currency. Anything on top of that is based on it's utility and the demand for it.
It's why energy resources in remote areas could conceivably be more profitable if refined and expended on site to mine crypto.
This is yet another very valid point. The western world is full of old factory towns, that used to have a factory which has been shutdown since long ago. These towns usually have a hydroelectric dam too which can not export power very far as it was mainly built to supply the factory, and local residents simply aren't paying enough to keep up with dam maintenance.
If these dam owners didn't open up Bitcoin mines to earn profit for all the power they can produce, they wouldn't be able to afford to keep up with dam maintenance and the dam would eventually collapse, drowning entire cities or towns downstream in floods of mud.
The cost to produce comes from the energy, but that doesn't guarantee it will always have more value than the energy initially required to produce it. Sort of like the labour theory of value.
The difficulty of bitcoin mining is adjusted so that the solutions for blocks come at an appropriate rate. It's the value of bitcoin that drives the cost of mining, not the other way around. If it was less valuable there would be fewer miners interested, so the difficulty would be set lower.
Start with basic hand tools, socket sets, saws, a cordless driver, bits and hammers.
Tools unlock the ability to create and repair. The only things separating you from the professionals are tools and skills. Both are within your grasp to acquire.
I dunno, I’ve swung quite a few hammers from cheap to moderately expensive, not like a Stalwart or anything, but never had a head fly off on me. Not even on a sledge. Usually a hammer will “indicate” when it needs repair or replacement. Perhaps another analogy?🤷🏻♂️
Our politicians disagree. They have no skills, but lots of money. Single mothers on welfare get a middle class income for doing nothing as well. Illegals breaking into western countries get financial rewards too.
Yeah and it sold out almost instantly. Like seconds. Was too bad. I think NFT is weird but I might've bought one just to support Trump. That they sold out so fast was like ok, I guess I won't.
NFTs were always stupid. The concept behind using NFTs for in game skins an such an being able to sell a skin for one game to someone to buy a skin in another game makes sense and has utility. Buying a jpeg on the block chain is dumb if it serves no purpose.
The concept of NFTs aren't stupid. NFT's can be used to handle ownership rights of anything (vehicle, property, house ownership, etc...) which is quite valuable as a service.
NFTs as the general population knows are stupid. Owning the rights to cartoon ape smoking a cigar is fucking stupid, unless you can turn a profit from that ownership (spoiler alert, you can't).
That makes no sense. Non fungible means one isn't interchangeable with the other. How is it fungible if you can assign ownership of, say, a house with it?
Not if each individual unit of currency is backed by a different unique asset, ie one quarter is backed by my house, and another quarter is backed by your house. They both definitively have value, but they are not fungible.
Imagine a system where instead of assigning ownership of a property by keeping a deed on file in an office somewhere, they issued an NFT. Possession of that NFT would prove ownership of the house.
It isn't fungible in that NFT #23415 is the only NFT #23415. NFT #23416 is not NFT #23415.
It would need to be registered somewhere, however, that NFT #23415 was the NFT for that house. On a public blockchain, I don't see any way you could have that intrinsically shown within the NFT in a non-fakeable way, since the content of an NFT can be copied.
The nature of the transaction itself records what the token represents and who owns it. Just like bitcoin, it's recorded on the block chain, so unless you can overpower the combined computing power of 50% of all that block chain mining it can't be fraudulently changed.
I'm not clear on what you mean by "nature of the transaction itself records what the token represents". I may just not have been clear enough myself.
In the scenario that the token represents the ownership of 123 Oak Rd., is there something inherent in the token/transaction which shows that token is the correct one to prove ownership of the house if there was no outside record to show that it was the correct token?
If we know that token #2537 represents ownership of 123 Oak Rd. then we can easily see who it was transferred to and when. But if we don't know that token #2537 represents ownership of 123 Oak Rd., and there is no external record of it, and someone else has a different token which they claim represents ownership of 123 Oak Rd., would there be a way without consulting any external records to determine which token actually represents ownership of the property?
Only one person owns token 2537 at a time, as recorded in the public block chain (ie the record of all transactions). If someone tried to make a new NFT that was token 9999, and that token claimed ownership of 123 oak rd, then token 9999s creation would be rejected because 2537 already exists
Fungible means that each unit of the token is identical to another, that would be true if you used it for say cars, and all the cars are the same make, model and brand.
But we're not living in USSR were everyone drives a Lada. We're in a semi-capitalist world where there are many different car manufacturers, many different types of cars and models.
NFT's are also not limited to any such specif type of thing like "cars" , or even "vehicles". It can be used for anything. Therefore it's always gonna be a non fungible token. Even if some products, like a small group of cars may be fully identical.
This is basically how all artwork or collectibles work.
1% of artists make money. 1% of music created gets listened to. 1% of paintings are worth more than the materials used. 1% of ideas are worth implementing.
Its a JPG that they give you a unique encrypted code for. That's literally it. Its a photo that you "own" the "real" copy, but people can just make copies of it.
Exactly. An NFT could function much like a deed, a document of ownership of something of value. But instead it got used as proof of ownership of digital things of no value.
Virtue signaling will be the collapse of the west.
An NFT could function much like a deed, a document of ownership of something of value.
This is the actual intention of it. The only thnig preventing it from being used in this ways are the faggots running the legacy systems. Paper flippers in the government, bankeers and lawyeers who cash in large amounts of money doing essentially nothing, all of them would become unemployed.
But instead it got used as proof of ownership of digital things of no value.
This is basically like ignoring the usefulness of cars and guns, just because some people use those things for bad actions.
Except it's a digital artwork. There is no discernable difference between a "fake" and the original image, other than your key.
If you own a print or an, even very good, fake of a Van Gogh, you don't own a Van Gogh. No one gives a fuck about a "key" for a cartoon, when the only difference in copy and pasting it is a block chain key that makes no distinguishable difference to the image.
Van Gogh actually painted. I don't need to right click his painting to make sure there's a serial number to say it was the original.
There is no discernable difference between a "fake" and the original image, other than your key.
There is no difference, period. The files are identical, byte for byte. There are ZERO differences. The key matches both the original and the copy. The only thing you control is the key.
Wait till they find out that there are "collisions" in the key space and not all unique items will give a unique key. There are more items than there are total keys, so keys will have to be reused if you put enough items in the system.
The basic math underlying this system GUARANTEES the above outcomes. It's retardation squared.
What if you have a copy of a Van Gogh that is a 100% replica? It's kind of the same thing. You think the original is better because he actually painted it? If the copy was the same, what the hell does that matter? The fact that Van Gogh painted it matters to you because you feel better about it, the same way someone will feel better about having some stupid token.
Many decades ago, and this probably still happens today. They made hand painted replicas of all of these paintings, all of which looks very similar to the originals. These replicas are obviously a lot cheaper than the originals even tho they look and feel almost the same.
Some people just don't like the idea of losing their overpaid paper flipping completely useless "administrative" jobs at the patent office or DMV. That's why they attack NFT's. To them it's like when factory workers first saw the robots that would replace them.
This is a retarded argument. You could have a replica down to each brush stroke, but it's still just that.. a replica. Having the original means more than just the painting.. it's an original piece of artwork. There is little value in copying something envisioned and created by someone.
The point is, an NFT can be original, sure. But there is no discernable difference between the original and a copy, other than the legality of who owns the first iteration. There is a complete difference in an original, physical, artwork.
The value lies in who painted it, not because it makes me feel better, but because someone copying someone's work holds little value. This is true for all art. You can replicate the Sisteen Chapel, and which one do you think people will want to see more?
There's only value in them because of people's feelings. It's just a fucking piece of hemp or linen with some fucking paint on it. A Van Gogh has value the same way those fucking NFTs had value. Why do you think people would want to see the real Sistine Chapel vs a fake one? I'll give you a hint, it's because of their fucking feelings. You feel a Van Gogh has value and other fucking retards feel a Van Gogh has value, that's how it has value. The concept of these NFTs is the fucking same. Both are stupid and not worth shit when it comes down to it.
An NFT is basically an image form of a crypto coin, so a store of monetary value. Like a stock, the initial purchase only has value if there is a market for liquidity. With bitcoin you can buy/sell in a marketplace that has standardized pricing. The problem with NFT's is that there is no standardized pricing, and even if you can post it for re-sale in a marketplace, a buyer has to both a) want their money in an encrypted NFT cryptocurrency form, and b) really want that particular image. If we ever abandon fiat currency then maybe some NFT's whose images are ubiquitous and popular enough will be in highest demand, and whoever issued and/or owns those NFT's will be among the winners of that game. It's like trying to choose between bitcoin, ethereum, or dogecoin. Which will succeed? Beta or VHS? All these NFT people are just taking a gamble on what they think the new form of currency will be.
most sane people don't care if they have a digital copy of a digital item though. NFT's are literally a way of separating stupid people from their money without giving them anything.
Some faggot out there "owns" the NFT that is on every single Grand Theft Auto Online player's casino penthouse walls, and that shit is hilarious to me.
You as a creators have two methods of getting paid today:
You go via a platform, this platform will force your creations to be woke, they pay you in fiat and they can shut you down at any time for any reason. The platform then shows users degenerate ads, or force you to do degenerate ads for them, or shill for actual trash just to get a few extra bucks.
You make an NFT of your work, now people can buy your creations directly from you, without middlemen involved, and you get to decide over your own work. Complete freedom in other words.
I own a deed to my house and propertly (lets call it an NFT). You have a copy of my deed and house. Who actually owns it? The NFT owner, and the blockchain will prove that as I have the keys to the wallet the NFT is assigned to.
You can't make copies of the rights to my house, but you can certainly make copies of my houses.
Block chain, which is used by digital currencies and NFTs, is a ledger of ownership transactions. Same concept as an accounting ledger.
Block chain uses encryption to make it computationally unfeasible to add fake transactions to the ledger. Your digital key identifies you just like providing an ID and PIN at a bank.
That ledger concept can be used to show ownership for any range of goods - not just money. NFTs were an attempt to show ownership of digital art. But unlike physical artwork, it's very easy to copy digital art. That makes ownership pointless unless you have artwork that other people want to license. Block chain can prove that you are the owner, but can't do anything more.
Better than paying the faggots who fund planned parenthood for the exact service. Especially since they can fuck you over at any time, shut you down or outright steal your work. On a blockchain, you control the keys yourself.
Funny how the crypto sleazes say it'll be the future but only care about its relative worth in fiat. Hmmmm not exactly speaking a lot of faith in actually getting people to adopt it as trasnactionable tender.
People should have fought tooth and nail when the government decided to implement the cuck regulations designating crypto as an asset (because third-party tender is always going to be a threat), but no, they bent the knee.
As a tech guy, I never understood their value. They were just on a hype-train and a lot of the big sales were people just buying their own NFTs with crypto.
The funniest thing to me is that someone can spend millions on an NFT while I can right click on the item, 'save as', and I own the same item.
lol yall now agree with this trash publication because they dunk on a subject that is easy to hate? crypto is a threat to the endless money printing war machine, and NFTs ingraciate kids and young people up to the same crypto infrastructure that challenges the usd monopoly. they hate trump, they hate you, they hate traditional american culture, they also happen to really hate NFTs.
im sure they are right about this and not writing to further some corporate agenda 🙄
At least if you were stupid enough to buy "pogs" or beanie babies you ended up with a boxful of something real.
Still got my Pet Rock and Mood Ring and they work great! 🐸👍
My wife still has 3 crates of beanie babies. Our kids love them. Fully plan on preserving them later for the grandkids.
I have like 6 of the beanie babies worth millions each.
I remember watching the infomercial at night with those guys who sold knives and swords and other junk in the 90s . One night they had the princes Diana beanie baby and like a Fourth of July beanie bear. They said you get them both for only $999.00 I thought $9.99 at first called my friends laughing our asses off when I realized they were a $1,000. Those guys were funny shit I miss watching them. Lol
Remember watching AMC, and it mostly played black and white movies or technicolor at any time of day. TV used to be cool.
I remember going with everyone over to see the neighbor's COLOR tv.
What an awesome memory! Color was out before my time, but not so long that we didn't have a black and white. Watched a lot of cartoons in black and white in the late 80's.
You caused a flash back. We bought a lot of Beanie Babies for our daughter back in the day I even when to a Beanie Babies "convention" to get her some more rare ones. One night my wife and daughter came running down the stairs screaming "we are rich!" They heard the Princess Di Beanie Baby was worth thousands. We had one, but it was not the one that was the big bucks one. I think the one we had was worth about $100, so for a $9.95 purchase, not a bad return but thousands of dollars, no!
https://www.ebay.ca/sch/i.html?_nkw=Princess+Di+Beanie+babies&_sacat=0&LH_Complete=1&LH_Sold=1
I believe only if they have flaws. I have a princess D teddy too but doubt it's worth that nuch.
The creator of Beanie Babies was a genius. Cashed out and pretty much just disappeared. Ty Warner’s current net worth sits at $5.7 billion.
Sound totally legit
About as legit as the 7 beanie babies I have that are worth a billion each.
It's only worth that much due to Bidenflation.
Better sell them now because the dollar is worthless.
Always were worthless
Beanie Babies DO have the value of being something that children can play with. Worth as a collectible item? No. But a good stuffed animal? Absolutely.
Dogs love them as Chew Toys too.
I still remember as a kid coming outside to a dog turd that looked purple......it was the baby purple platypus from McDonald's my dog ate
There may be a nostalgic resurgence in value in 20 years or something but it'll be just as stupid as the first run.
I buy them 5 for $3 in garage sales. I then sell them for $1 each in mine. That's a 65% profit margin.
People will buy them for $1? Around here they go for 25 cents.
When I had kids my parents gave me a Rubbermaid bun full of old legos (not sets, just 50lb of loose legos). My kids were into legos too, so now I’ve got about 150lbs in two giant bins out in storage.
When they start becoming parents, they’ll each get inherit 50lb of legos. And a gun trust, but hopefully that will be a great deal later lol.
Lol! I've kept some random toys from the kids, about 2 drawers worth. One is full of Thomas stuff, the other is vehicles, characters, dolls, etc. I vacuum sealed a bag of soft/plush stuff. All with the intended purpose of breaking it out for their kids. I also kept a bike and have tried to keep papers of theirs. Unfortunately, I think my wife keeps tossing them thinking it's random school work. But I've tried to curate the better stuff, like contracts between the tqo of them for candy, code sheets, angry note, etc.
I have the same valuable collection and none of them are in mint, nor good condition.
But my neopet!
That ain't shit. My tamagotchi is still alive and well.
My furby has gained sentience. I keep it locked up because I've seen Terminator.
In 1989 I put an Aerosmith cassette in my Teddy Ruxpin. Neither of us have ever been the same since.
Bought one of those once -- am fairly certain they came out of the box sentient.
https://scp-fanon.fandom.com/wiki/SCP-90765
Legit I got a furby for my 7th birthday and it said something along the lines of "let's have sex". It was very clear and totally inappropriate and both of my parents were right there and heard it too. They threw it away immediately and bought me a bb gun.
How many eyes do you have remaining?
Never shot one of my eyes out but I did kill a starling and felt pretty bad about it. Didn't think I could make the shot.
I also shot this mean german shepherd that came tearing after my rat terrier up my driveway. He chased me and my brother on our bikes daily, but always stopped because he was on a proximity collar. One day he got fully out and went after my dog while I was on the porch shooting cans.
TAT! Ark! RooRooRooRoo! He turned around and limped home at a clip.
A couple weeks later I took manna on a walk around the neighborhood and that shep saw him, squeeled, and ran toward his house. I'd never been so proud.
The girl who's family owned the shepherd went to school with me, and I told her I shot her dog, and why. Her mom sent police to my house and my mom willingly relinquished my bb gun to them without question. I'm still working on forgiving her for that.
Indeed, quite impressive actually. I always though those were neat little toys, not enough to have one myself, but my kids did. They all died. The Tamagotchi's that is.
Lol I was totally kidding. I did have one as a kid, but it died.
...and there you were, on you way to becoming an internet legend when you snatched defeat from the jaws of victory.
I've heard rumours that they hatch and fly to space if you keep them alive for a whole month. Probably just an urban legend, given the unlikely hood of any child ever accomplishing that.
My pet rock kept on attacking my brother so my family had to put it down.
Mine are long gone, but I had both too.
I would say "Pet Rock / Mood Ring 2024" but we already got that in 2020
underrated comment!
Yeah but at least those things were tangible. NFTs are literally the dumbest fucking thing they grifted people into
Dumbest thing so far!
Wait'll you hear about the dollar.
That's an under rated comment.
KEK
That's pretty fuckin dumb
This
It was only smart if you successfully flipped your "asset" to some other schmuck and doubled your money.
I thought that was the whole point actually.
So did everyone else. When people know they're getting in to a Ponzi scheme, I guess I don't feel so bad about them losing money.
Babababa
Money laundering. Just like bidens "art"
Kids these days….
Not my limited edition collectible Trump NFT’s
What's the resale value?
Remind we what I'd be buying in this case. A JPG image with a certified hash value?
NFT's are pointers, a proof of ownership.
The difference between a NFT and a patent lawyer is the price, nobody would pay thousands of dollars to a lawyer to protect a JPG.
And while you obviously won't have the law reinforcing this ownership, the way Hollywood hunt down movie pirates, it's not a dumb idea to have a solid record showing that you were the original creator of something.
We live in a clown world were stolen memes gets reposted all the time, more JPEG added for every repost, plus shitty watermarks that someone clearly attempted to remove but failed miserably. Is that what you want the internet to be like? That's just retarded.
And isnt that right about what they sold for?
They are virtual trading cards. Like, that makes sense to support a person or artist you like for other work they do. I would prefer that to the woke Patreon bullshit or whatever.
This is the comment I needed to see.
I know someone working on an NFT-esque project with something that has real utility.
Supporting an artist is similar to what's he's cooking up, so I'll take your sentiment as validation of his concept.
Not arguing your point, but isn't that what Bandcamp and Etsy are all about? They have to surrender a cut, but it beats eating Ramen every day.
This is a bit more ambitious. Can't get into any more detail for now as I'm under NDA.
Lawl. And when he sells, he probably has to declare that in taxes.
Yeah, so, bank. Those made bank.
Those are the 5% that didn’t lose value.
Supply and demand, just like with physical art.
I wonder if the lessons learned here could also apply to digital currencies as well. Wierd. And no, that doesnt make govt backed ones better.
Empty boxes with no intrinsic value are always a ponzi scheme.
This guy AMWAY's...
Many digital currencies have value inherent to the data they represent. Many of these currencies are built upon geolocation data, or marketing data, helping logistics and commercial developments, and their value is based on the value that companies and individuals place on that data.
Can you give an example? Are you talking about cryptocurrencies, or something else?
Yes cryptocurrencies.
For example, XYO is one cryptocurrency which is based on geolocation data. The project utilizes participants mobile devices to gather data of where the device is located in the real world, and then that data is authenticated by other nearby devices via Bluetooth.
The data is then used in a variety of ways: to improve existing geolocating technologies such as GPS and cell tower triangulation, to provide marketing data to firms seeking high traffic areas for real world marketing campaigns, and in the manufacture of more innovative technologies and products. ( an example of the latter would be fobs or other devices to be placed on keyrings, vehicles, shipping containers, or other valuable assets in order for people to easily locate them through apps while also validating the location by again, using other devices within Bluetooth range, as confirmation). It's essentially providing more reliable data than previous technologies, and companies see value in that reliability.
Other cryptos are based on other applicable data sets, from sales and cash flow data to media usage, etc.
Digital currencies have value because they're actually useful as a store of value and medium of exchange, NFTs are literally just digital images that have no practical purpose.
They can be used for the same thing as digital currencies. The only problem is that you have to convince people that they have universal trade value.
I'm really not convinced in cryptocurrency's long term viability as a store of value. We had a lot of people buy in because the value was going up: they saw it as a risk but accepted it for the potential profit. As cryptocurrency stops being a money maker, and just becomes a store of value, I wonder if people outside the enthusiast community will still be interested. And if it does become just an enthusiast thing, there's no way it will keep its current value.
The true value is within blockchain, look at Amazon AWS, Google cloud, M$, Apple, Oracle etc, some of the highest valued companies in the world, what do they all have in common? Massive data centers storing data.
The problem with these however is that they rely on fiat payment processors to allow them to operate. They could all get cancelled by the click of a button if they don't cancel your account and goes woke.
Blockchains not only store and transact data, they also introduce the cryptocurrency. A specific digital currency used to pay for transactions on that blockchain. It's a decentralized cloud without middlemen to control what can or can't be stored.
The base value comes from the electricity (energy) needed to mine the currency. Anything on top of that is based on it's utility and the demand for it.
It's why energy resources in remote areas could conceivably be more profitable if refined and expended on site to mine crypto.
This is yet another very valid point. The western world is full of old factory towns, that used to have a factory which has been shutdown since long ago. These towns usually have a hydroelectric dam too which can not export power very far as it was mainly built to supply the factory, and local residents simply aren't paying enough to keep up with dam maintenance.
If these dam owners didn't open up Bitcoin mines to earn profit for all the power they can produce, they wouldn't be able to afford to keep up with dam maintenance and the dam would eventually collapse, drowning entire cities or towns downstream in floods of mud.
The cost to produce comes from the energy, but that doesn't guarantee it will always have more value than the energy initially required to produce it. Sort of like the labour theory of value.
The difficulty of bitcoin mining is adjusted so that the solutions for blocks come at an appropriate rate. It's the value of bitcoin that drives the cost of mining, not the other way around. If it was less valuable there would be fewer miners interested, so the difficulty would be set lower.
Remember Alf? He's back in pog form.
Why people chase quick money I will never understand. Chase a skill and the money will chase you
Wise words.
Also, buy the best tools you can afford.
what kind of tools should I invest in?
Get the fastest Internet you can so you can send more complaints online than everybody else.
that doesn't sound right, are you trolling?
I'm completely serious just like the vast majority of the people on this site.
What do you have already?
Start with basic hand tools, socket sets, saws, a cordless driver, bits and hammers.
Tools unlock the ability to create and repair. The only things separating you from the professionals are tools and skills. Both are within your grasp to acquire.
rifles, revolvers, etc
I was always told, “A poor craftsman blames his tools.”🤷🏻♂️
Harbor Freight has a time and place.
About the only thing from Harbor Freight I've gotten that was worth getting was my tool cart and magnetic trays.
I thought it was a poor guy buys craftsman tools.
That had more truth to it before the market was flooded with cheap CHY-NEEZ tools.
say that when the head of the hammer you bought at Harbor Freight flies off like a projectile
I dunno, I’ve swung quite a few hammers from cheap to moderately expensive, not like a Stalwart or anything, but never had a head fly off on me. Not even on a sledge. Usually a hammer will “indicate” when it needs repair or replacement. Perhaps another analogy?🤷🏻♂️
When the head of the hammer you bought at Harbor Freight flies off like a projectile, it indicates it's in need of repair or replacement.
Sure, but I also don’t wait until the belts are showing on my tires to replace them either.🤷🏻♂️
Our politicians disagree. They have no skills, but lots of money. Single mothers on welfare get a middle class income for doing nothing as well. Illegals breaking into western countries get financial rewards too.
Grifting is a skill.
And trolling is an art
When done well, absolutely.
Discipline is for black and Asian people, not le based mighty whitey (does nothing to save his civilization and bitches when it falls apart)
tell us more how you hate the white man leftist
So you capitalize Asian but not Black, damn bigot.
Don't care, I'm American.
A guy named Julian your pronouns are fag/got
Insecurity instilled in them intentionally by a broken communist education system.
So this means the digital equivalent to "beanie babies' fad is over.. Wonder how much money was laundered trading these asinine things??
Why can't they just duct tape bananas to walls like normal people?
Didn't Trump jump in on NFTs a while back? Made a big deal by announcing that he has something big and that's all it was?
Yeah and it sold out almost instantly. Like seconds. Was too bad. I think NFT is weird but I might've bought one just to support Trump. That they sold out so fast was like ok, I guess I won't.
Was too bad. I kinda wanted one as a novelty.
As a novelty, and to support someone, is exactly the right use for NFTs.
That, and to be sure that all of the money goes to the person you wish to support, without having to pay the enemy transaction fees.
NFTs were always stupid. The concept behind using NFTs for in game skins an such an being able to sell a skin for one game to someone to buy a skin in another game makes sense and has utility. Buying a jpeg on the block chain is dumb if it serves no purpose.
The concept of NFTs aren't stupid. NFT's can be used to handle ownership rights of anything (vehicle, property, house ownership, etc...) which is quite valuable as a service.
NFTs as the general population knows are stupid. Owning the rights to cartoon ape smoking a cigar is fucking stupid, unless you can turn a profit from that ownership (spoiler alert, you can't).
Your non-fungible token would then become a fungible token.
Insomuch as the deed to your property or pieces such as the Mona Lisa are fungible.
That makes no sense. Non fungible means one isn't interchangeable with the other. How is it fungible if you can assign ownership of, say, a house with it?
That would be a currency --- backed by a house.
Yes. Exactly.
Currency is fungible though isn't it?
Not if each individual unit of currency is backed by a different unique asset, ie one quarter is backed by my house, and another quarter is backed by your house. They both definitively have value, but they are not fungible.
An NFT is only one thing. It can't be split into smaller parts.
Imagine a system where instead of assigning ownership of a property by keeping a deed on file in an office somewhere, they issued an NFT. Possession of that NFT would prove ownership of the house.
It isn't fungible in that NFT #23415 is the only NFT #23415. NFT #23416 is not NFT #23415.
It would need to be registered somewhere, however, that NFT #23415 was the NFT for that house. On a public blockchain, I don't see any way you could have that intrinsically shown within the NFT in a non-fakeable way, since the content of an NFT can be copied.
The nature of the transaction itself records what the token represents and who owns it. Just like bitcoin, it's recorded on the block chain, so unless you can overpower the combined computing power of 50% of all that block chain mining it can't be fraudulently changed.
I'm not clear on what you mean by "nature of the transaction itself records what the token represents". I may just not have been clear enough myself.
In the scenario that the token represents the ownership of 123 Oak Rd., is there something inherent in the token/transaction which shows that token is the correct one to prove ownership of the house if there was no outside record to show that it was the correct token?
If we know that token #2537 represents ownership of 123 Oak Rd. then we can easily see who it was transferred to and when. But if we don't know that token #2537 represents ownership of 123 Oak Rd., and there is no external record of it, and someone else has a different token which they claim represents ownership of 123 Oak Rd., would there be a way without consulting any external records to determine which token actually represents ownership of the property?
Only one person owns token 2537 at a time, as recorded in the public block chain (ie the record of all transactions). If someone tried to make a new NFT that was token 9999, and that token claimed ownership of 123 oak rd, then token 9999s creation would be rejected because 2537 already exists
Fungible means that each unit of the token is identical to another, that would be true if you used it for say cars, and all the cars are the same make, model and brand.
But we're not living in USSR were everyone drives a Lada. We're in a semi-capitalist world where there are many different car manufacturers, many different types of cars and models.
NFT's are also not limited to any such specif type of thing like "cars" , or even "vehicles". It can be used for anything. Therefore it's always gonna be a non fungible token. Even if some products, like a small group of cars may be fully identical.
False, someone uses it you can sue them. Takes extra upfront investment of time and money but completely possible
You are stupid.
You better hope Gary Vaynerchuk doesn’t read this!
They spelled 100% wrong.
K-kek!
This is basically how all artwork or collectibles work.
1% of artists make money. 1% of music created gets listened to. 1% of paintings are worth more than the materials used. 1% of ideas are worth implementing.
Pareto optimization.
Duh... just like 98% of all tokens and coins. They pump them up and then dump them making them worthless.
Unlike the USD... lol
The Trump Cards being the exception.
And Rumble! :(
Faaaaaaaaahk…..meeeeeeeeee…..
The other 5% are Trump's
Yup! Literally everything related to trump is up about 200-300%
I still don’t get what NFTs truly are and what their purpose is
Its a JPG that they give you a unique encrypted code for. That's literally it. Its a photo that you "own" the "real" copy, but people can just make copies of it.
The concept is nice and all but the artificial scarcity aspect was completely stupid.
The resource itself is not made artificially scarce. The designation of ownership is given scarcity.
Exactly. An NFT could function much like a deed, a document of ownership of something of value. But instead it got used as proof of ownership of digital things of no value.
Virtue signaling will be the collapse of the west.
This is the actual intention of it. The only thnig preventing it from being used in this ways are the faggots running the legacy systems. Paper flippers in the government, bankeers and lawyeers who cash in large amounts of money doing essentially nothing, all of them would become unemployed.
This is basically like ignoring the usefulness of cars and guns, just because some people use those things for bad actions.
Except it's a digital artwork. There is no discernable difference between a "fake" and the original image, other than your key.
If you own a print or an, even very good, fake of a Van Gogh, you don't own a Van Gogh. No one gives a fuck about a "key" for a cartoon, when the only difference in copy and pasting it is a block chain key that makes no distinguishable difference to the image.
Van Gogh actually painted. I don't need to right click his painting to make sure there's a serial number to say it was the original.
There is no difference, period. The files are identical, byte for byte. There are ZERO differences. The key matches both the original and the copy. The only thing you control is the key.
Wait till they find out that there are "collisions" in the key space and not all unique items will give a unique key. There are more items than there are total keys, so keys will have to be reused if you put enough items in the system.
The basic math underlying this system GUARANTEES the above outcomes. It's retardation squared.
What if you have a copy of a Van Gogh that is a 100% replica? It's kind of the same thing. You think the original is better because he actually painted it? If the copy was the same, what the hell does that matter? The fact that Van Gogh painted it matters to you because you feel better about it, the same way someone will feel better about having some stupid token.
A Trans Gogh.
Brilliant.
Many decades ago, and this probably still happens today. They made hand painted replicas of all of these paintings, all of which looks very similar to the originals. These replicas are obviously a lot cheaper than the originals even tho they look and feel almost the same.
Some people just don't like the idea of losing their overpaid paper flipping completely useless "administrative" jobs at the patent office or DMV. That's why they attack NFT's. To them it's like when factory workers first saw the robots that would replace them.
This is a retarded argument. You could have a replica down to each brush stroke, but it's still just that.. a replica. Having the original means more than just the painting.. it's an original piece of artwork. There is little value in copying something envisioned and created by someone.
The point is, an NFT can be original, sure. But there is no discernable difference between the original and a copy, other than the legality of who owns the first iteration. There is a complete difference in an original, physical, artwork.
The value lies in who painted it, not because it makes me feel better, but because someone copying someone's work holds little value. This is true for all art. You can replicate the Sisteen Chapel, and which one do you think people will want to see more?
There's only value in them because of people's feelings. It's just a fucking piece of hemp or linen with some fucking paint on it. A Van Gogh has value the same way those fucking NFTs had value. Why do you think people would want to see the real Sistine Chapel vs a fake one? I'll give you a hint, it's because of their fucking feelings. You feel a Van Gogh has value and other fucking retards feel a Van Gogh has value, that's how it has value. The concept of these NFTs is the fucking same. Both are stupid and not worth shit when it comes down to it.
Okay but why does that matter at all
Correct.
An NFT is basically an image form of a crypto coin, so a store of monetary value. Like a stock, the initial purchase only has value if there is a market for liquidity. With bitcoin you can buy/sell in a marketplace that has standardized pricing. The problem with NFT's is that there is no standardized pricing, and even if you can post it for re-sale in a marketplace, a buyer has to both a) want their money in an encrypted NFT cryptocurrency form, and b) really want that particular image. If we ever abandon fiat currency then maybe some NFT's whose images are ubiquitous and popular enough will be in highest demand, and whoever issued and/or owns those NFT's will be among the winners of that game. It's like trying to choose between bitcoin, ethereum, or dogecoin. Which will succeed? Beta or VHS? All these NFT people are just taking a gamble on what they think the new form of currency will be.
most sane people don't care if they have a digital copy of a digital item though. NFT's are literally a way of separating stupid people from their money without giving them anything.
Some faggot out there "owns" the NFT that is on every single Grand Theft Auto Online player's casino penthouse walls, and that shit is hilarious to me.
You as a creators have two methods of getting paid today:
to clarify you don't actually own any rights to the "art"
I own a deed to my house and propertly (lets call it an NFT). You have a copy of my deed and house. Who actually owns it? The NFT owner, and the blockchain will prove that as I have the keys to the wallet the NFT is assigned to.
You can't make copies of the rights to my house, but you can certainly make copies of my houses.
Right. Absolutely stupid
Probably best to keep it that way, you haven't missed anything of consequence.
They are digital provenance or at least are attempting to be.
In art, provenance is the history and adds to the mark of authenticity because a painting itself will always be unique.
A digital asset can be a clone which means mulitple copies are exactly the same often right down to the noise bits.
So if you entangle the image with a unique signature then it becomes a unique asset. That's the thinking behind it.
By right an NFT should give you rights over usage and the like depending on how the contract is set up
Seems retarded. Just create real things and not fake things
It does until you consider it can be used for songs, voice recordings, videos, anything digital
I mean any recording or video is protected by copyright
technically yes but practically almost never given copyright is entangled with government courts
copyright is only as enforceable as you wallet allows
Block chain, which is used by digital currencies and NFTs, is a ledger of ownership transactions. Same concept as an accounting ledger.
Block chain uses encryption to make it computationally unfeasible to add fake transactions to the ledger. Your digital key identifies you just like providing an ID and PIN at a bank.
That ledger concept can be used to show ownership for any range of goods - not just money. NFTs were an attempt to show ownership of digital art. But unlike physical artwork, it's very easy to copy digital art. That makes ownership pointless unless you have artwork that other people want to license. Block chain can prove that you are the owner, but can't do anything more.
Stupid
Better than paying the faggots who fund planned parenthood for the exact service. Especially since they can fuck you over at any time, shut you down or outright steal your work. On a blockchain, you control the keys yourself.
Both answered; Money laundering
Not worthless to the people who sold them to suckers, err I mean, customers, originally.
Funny how the crypto sleazes say it'll be the future but only care about its relative worth in fiat. Hmmmm not exactly speaking a lot of faith in actually getting people to adopt it as trasnactionable tender.
People should have fought tooth and nail when the government decided to implement the cuck regulations designating crypto as an asset (because third-party tender is always going to be a threat), but no, they bent the knee.
Investigating Logan Paul's Biggest Scam
Good, all that digital shit sucks and fuck bitcoin.
Archive Link: https://archive.ph/IW0pr
Direct Link: https://www.breitbart.com/tech/2023/09/22/digital-disaster-95-of-nfts-are-completely-worthless-as-collectible-market-collapses/
Pepe Link: 🐸👌
Whoever thought this was a good idea? I remember first learning about them and thinking, “WTF do I not get about this? There is zero value to this.”
As a tech guy, I never understood their value. They were just on a hype-train and a lot of the big sales were people just buying their own NFTs with crypto.
The funniest thing to me is that someone can spend millions on an NFT while I can right click on the item, 'save as', and I own the same item.
What a fucking scam.
The pictures for the sake of pictures were just musical chairs (sell to a bigger sucker) or money laundering
The protocol: a trustable digital ledger of who owns what is what’s actually valuable
If by 95% they mean 100% then yes.
no really? the hell you say!
Is my hologram of Ruth Buzzi Ginsburg butt naked safe?
Beanie Babies part deux.
I love it when people get suckered into idiotic fads, especially when you don't even have a physical item to show for it. Suckers. el oh el.
The other 5% are TRUMPS NFTS
{{Shocked Pikachu NFT}}
Nooooo.
Going to rewatch that southpark episode now.
They were always completely worthless
Bwahahaha
You can’t trade or sell it when no one knows what the fuck it is.
Now do CBDC
Anyone who bought into this is a retard, tbh. So this is all just hilarious to me.
No kidding... I predicted this the second my communist tracking device started telling me how valuable these digital pieces of garbage were
Next thing you'll be telling me is that the Emperor has no clothes.
Trump's NFTs are still hot!
https://opensea.io/collection/trump-digital-trading-cards/analytics
You'd have been better off buying V bucks in fortnite
In the 90's, baseball cards were essentially legalized gambling for kids. Now they're practically worthless.
-Laughs in Dutch Tulip Market-
lol yall now agree with this trash publication because they dunk on a subject that is easy to hate? crypto is a threat to the endless money printing war machine, and NFTs ingraciate kids and young people up to the same crypto infrastructure that challenges the usd monopoly. they hate trump, they hate you, they hate traditional american culture, they also happen to really hate NFTs.
im sure they are right about this and not writing to further some corporate agenda 🙄
FTX and the Democrats laugh all the way to the Ukrainian banks
How are the trump ones doing?