Pretty much all crypto bro stuff, honestly
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A collection of some classic Lemmy memes for your enjoyment
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Amazing.
When they were first blowing up, I thought sure, I'll turn a couple old unreleased tracks of mine into NFTs. I signed up to some site I forget the name of, uploaded the tracks, and then then found out I had to pay something like $500 a track to turn them into NFTs. It was a pretty duh moment for me. Of course the content doesn't mean shit, it's just the money. I never paid them a dime and deleted my stuff.
When I first heard of NFTs I thought the media was encoded within the blockchain - in that case sure, I wouldn't necessarily buy one but I understand how that'd be interesting.
Ten minutes later when I was told they are just proof of purchase that points to a URL hosting your monkey image somewhere, I knew they were a total scam
Okay but how are nft's different from the deed to a house? Checkmate, filthy commie.
Now that i have defeated you in single combat, you must tell me the seed phrase for your largest bitcoin wallet.
hunter2
wtf why isn't it starred out for privacy
guys help
Near the peak of the NFT craze I was gifted (as part of an initial mint) an NFT, which I turned around and immediately sold for $3k. Last I looked it was worth about $200. That's the extent of my experience with NFTs.
Still surprised it's worth $200. I thought it'd be worth a few cents or maybe a few dollars at most
It's worth what someone will actually pay for it. I suspect that $200 is the price at which it is listed...
I see what's going on here! You're confusing market value labor value and use value. Typical noob mistake. Clearly ypu dont understand the real value of an nft!
The sad thing is the concept wasn’t.
Selling NFTs with no physical existence is what is pointlessly stupid.
Before they came along i considered the idea of a blockchain linked video camera where metadata of footage gets written into the chain to combat fake news and misinformation.
The goal would be to create a proof and record of original footage, to which media publishers and people who share can link towards to verify authenticity/author.
If the media later gets manipulated or reframed you would be able to verify this by comparing to the original record.
It was never a finished idea but when i first read nft i thought this is the right direction.
And then capitalism started selling apes and what the actual disgusting money possessed fuck was that.
This still fundamentally suffers from the oracle problem like all blockchains solutions. You can always attack these blockchain solutions at the point where they need to interact with the real world. In this case the camera is the "oracle" and nothing prevents someone from attacking the proposed camera and leveraging it to certify some modified footage. The blockchain doesn't add anything a public database and digitally signed footage wouldn't also achieve.
The certificate/signature part seems okay for verification.
It's the transferable virtual deeds being sold that are the scam. I could sell you a virtual deed to the Golden Gate Bridge right now, you could buy it but it doesn't really mean anything.
I mean we use fiat currency
the issue isnt that it is virtual
Wouldn't a code signing be a simpler way to achieve that? The video camera can produce a hash code with each video and you can always run the same hash function against the video file to confirm that it wasn't tampered with.
You know, I feel bad for the people who were conned by the Super Bowl commercials. Celebs added legitimacy to the con. Everyone else who actually got into it because of whatever other reason, I don't give a fuck about. And SBF? Fuck that guy. I'm glad he's in prison. (I know he was selling a crypto-currency, not NFTs. Don't correct me.)
Oh, and the late night guy and the celeb blond lady who had an awkward conversation about it (was it the hotel sex tape lady?) can also fuck right off. Someone paid them to shill and they went for it. Assholes.
But, all that being said, I'll sell you a jpeg for $1000. Or two for $1999.
Edit: Paris Hilton, don't @ me. Edit: missing "the"
How do you know a crypto scheme is a scam?
You already know, the answer is "yes". It's always "yes".
The only question is, can you hold the tiger's tail just long enough to make a mint and still let go in time that you aren't the last one holding it.
can you hold the tiger’s tail just long enough
The answer to this is also usually "no" because the people who set up the scamcoin usually don't like to leave things to chance and have a plan for when to time their rug-pull.
Trying to get in on these grifts is like spotting a bank-robbery in-progress and trying to join the crew and get paid. Sure it can happen, but you're not exactly playing with the best odds of success.
i smoked a joint with an one of those ape drawings on the jar last night, that was a Nice Fuckin Toke
When my these first arrived my brother was all about them. Dude was stoked and thought he was the next billionaire. I then asked him what's to stop someone from copying the image? He shrugged and idk man man but im going all in. It was on that day that I knew my brother was tarded
It's so funny looking back at it (though it was funny while it was happening too), these new-flavor cryptobros tried so hard to convince themselves that they were in the right, they made "cartoons," games, I think they even planned like an island resort or something around their monkey pictures.