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re: Turns out that NFTs weren't the future of finance and art
Posted on 9/22/23 at 10:08 am to Big_Sur
Posted on 9/22/23 at 10:08 am to Big_Sur
You mean just art. Bitcoin is the future of payment/savings and nft will probably be the future of things like real estate for house deeds and car titles and etc.
1
Posted on 9/22/23 at 10:13 am to UltimaParadox
Posted on 9/22/23 at 10:13 am to Deactived
quote:
I have apes worth more than your bud light stock portfolio oweo
I own zero BUD baw
Posted on 9/22/23 at 10:13 am to 21JumpStreet
quote:
nft will probably be the future of things like real estate for house deeds and car titles and etc.
Lol
This post was edited on 9/22/23 at 10:14 am
Posted on 9/22/23 at 10:18 am to Fun Bunch
quote:
THis is one of the few things that I did not get at all and thought was beyond stupid, and turned out to be right.
It was always a money laundering scheme for rich people, like the modern art industry.
Somebody does something illegal for you, instead of giving them a bunch of cash you buy an NFT from them, which could be anything and the value is made up. Same thing they do with modern art.
Posted on 9/22/23 at 10:21 am to Stonehog
Much of the crypto industry is centered around organized crime and human trafficking
https://www.bloomberg.com/news/newsletters/2023-08-17/crypto-text-message-scams-lead-back-to-cambodia-slave-labor
https://www.bloomberg.com/news/newsletters/2023-08-17/crypto-text-message-scams-lead-back-to-cambodia-slave-labor
Posted on 9/22/23 at 10:21 am to RedHawk
quote:
I've been told a hundred times and have even tried to research how crypto works and I'm still at a loss and have no clue how it actually works.
That’s because it’s all smoke and mirrors. It’s not real.
Posted on 9/22/23 at 10:21 am to lockthevaught
I made thousands off of NBA Top Shot.
Just had to know when to sell
Just had to know when to sell
Posted on 9/22/23 at 10:22 am to Big_Sur
who knew?
Posted on 9/22/23 at 10:26 am to Big_Sur
How could cities, corporations, casinos, etc pay criminals millions of dollars if crypto didn't exist...
https://www.cnbc.com/2023/09/14/caesars-paid-millions-in-ransom-to-cybercrime-group-prior-to-mgm-hack.html
https://www.npr.org/2019/07/09/739999730/what-happens-when-hackers-hold-cities-hostage-with-ransomware-attacks
https://www.cnbc.com/2023/09/14/caesars-paid-millions-in-ransom-to-cybercrime-group-prior-to-mgm-hack.html
https://www.npr.org/2019/07/09/739999730/what-happens-when-hackers-hold-cities-hostage-with-ransomware-attacks
Posted on 9/22/23 at 11:04 am to RedHawk
quote:
I've been told a hundred times and have even tried to research how crypto works and I'm still at a loss and have no clue how it actually works.
Same.
Posted on 9/22/23 at 11:11 am to Deactived
quote:
The shipping industry thinks otherwise
A whole bunch of "can", "may", and "test". It has been 15 years and still no real world use case.
Plus the funny part is that all the test cases and examples are all private centralized use of the blockchain technology. Which most end up abandoning because it is not as fast or reliable as a simple database.
Posted on 9/22/23 at 2:32 pm to Proximo
quote:
You sound like a jealous dude that didn’t make any money during the crypto boom
You sound like a dude that lost money on NFTs
Posted on 9/22/23 at 2:37 pm to Big_Sur
quote:
Of the 73,257 NFT collections we identified, an eye-watering 69,795 of them have a market cap of 0 Ether (ETH).
This statistic effectively means that 95% of people holding NFT collections are currently holding onto worthless investments. Having looked into those figures, we would estimate that 95% to include over 23 million people who’s investments are now worthless.
Posted on 9/22/23 at 3:20 pm to UltimaParadox
A blockchain-based deed and banking system would make closing offices irrelevant, for one thing.
Posted on 9/22/23 at 3:58 pm to Lonnie Utah
In February 2021 someone paid $1.25 million for this
in December 2021 he sold it for $10.26 million
in December 2021 he sold it for $10.26 million
Posted on 9/22/23 at 4:56 pm to Hateradedrink
quote:
NFTs as a concept make sense.
I think NFT's could be useful for general licensing of intellectual property, like software. Unfortunately crypto-bro assholes did their usual pump and dump shite and probably destroyed the potential use cases.
Posted on 9/22/23 at 5:06 pm to Hateradedrink
quote:
A blockchain-based deed and banking system would make closing offices irrelevant, for one thing.
Ah yes an immutable slow decentralized database for housing deeds.
Oh wait that would be incredibly stupid, because no one can make mistakes on any of the documents since it is immutable.
Lost your keys and someone stole your NFT... guess they own your house now. Sounds like a great system.
It is almost like the central authority is needed to resolve disputes.
Posted on 9/22/23 at 5:08 pm to UltimaParadox
quote:
Give us one use case that actually makes sense.
Contracts and deeds dont... need an authority and ability to change it.
Blockchains are, at heart, coordination systems. If you want to do away with having a trusted authority on a deed or property, a public, decentralized, trustless Blockchain would be the way to do it.
Problem is you would need to gubment to relinquish some power, and also would fight related industries that would be getting disrupted.
The fundamental problem with blockchains from the viewpoint of the average American is that, by and large, our trusted systems work and we're used to them. Such trustless tech will be adopted by 3rd world countries first.
This post was edited on 9/22/23 at 5:09 pm
Posted on 9/22/23 at 5:12 pm to Hulkklogan
quote:
If you want to do away with having a trusted authority on a deed or property, a public, decentralized, trustless Blockchain would be the way to do it.
Why would I want that, and why would anyone want it?
Cryptobros eat this shite up and they can't even prevent their monkey jpegs (actually technically just the receipt) from getting stolen. Imagine losing something of real value.
Sorry Karen we have to move out since I lost the keys to our digital wallet that had the proof of our house deed. Since code is law, I have no recourse to get it back, we are now homeless.
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