r/agedlikemilk 13d ago Silver 2 Wholesome 2

Picture of a monkey or a house? Removed: R1 Low Effort Topic

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[removed] — view removed post

33.4k Upvotes

u/MilkedMod Bot 13d ago edited 13d ago

u/KelloPudgerro has provided this detailed explanation:

Crypto currencies crashed hard, alongside with endless hacks and thefts making them near valueless most of the time or valued a fraction of a fraction of what they were worth a few seconds ago


Is this explanation a genuine attempt at providing additional info or context? If it is please upvote this comment, otherwise downvote it.

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u/R4nD0m57 13d ago

Did he actually buy the monkey? i am sure it was a joke

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u/Bamith 13d ago

You can just buy a house and then pay a furry like $80 for a high quality monkey that has the added benefit of being sexy.

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u/ActingApple 13d ago

This guy knows his shit

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u/AMERICANDECLINE 13d ago

“I like this NFT but I wish it would try to fuck me.”

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u/lmaytulane 13d ago

Not Fuckable Tokens

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u/zuzg 13d ago

The fact that square Enix just sold their most famous IPs like Tomb Raider for pocket change, relatively speaking, only to go balls deep into blockchain games is another agedlikemilk in the making.

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u/mothzilla 13d ago Silver

Speak for yourself I'm looking forward to Tomb Raider 0x1246826ace4562496372973525bc4a32a34b58ae47f35

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u/zuzg 13d ago

Nah you misread. We've a chance to actually get a good Tomb Raider game again as it's not anymore in the hand of square Enix

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u/Bionicmonster 13d ago

What was the last "good" tomb raider in your opinion?

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u/zuzg 13d ago

The first of the trilogy reboot.

The last one had better combat but that's it, Story was boring and it was so off-putting with the constant begging for money.

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u/SolitaireyEgg 13d ago

I actually really enjoyed all three of them. I agree the first one was the best. The second one just had a worse environment (snowy bunkers were boring compared to the setting in the first game), and the third one got a new dev that just messed up trying to go open-world.

But, overall, all three of them were pretty compelling and generally fun IMO. My only real beef with those games was the random items placed around the map, which you actually needed to craft stuff. I really hate feeling like you have to obsessively check behind every corner and bush, and up every tree, just to see if an item is there. Who the fuck finds that fun?

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u/B4ronSamedi 13d ago

unfortunately, me.

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u/zuzg 13d ago

I really appreciated how Elden Ring had so many items to be found. Like often it was just upgrading materials that you didn't really needed but by putting something there it showed they care for us weirdos.

"must find secrets"

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u/TjPshine 13d ago

Elden ring actually tones this down compared to other souls games.

It's pretty funny. They knew the majority of their player base would be checking under elevators, up strange walls, and down the darkest halls, so Fromsoft had to play a game with expectations.

It's noticeable how more of the secrets and fun item rewards appear in the last half of the game, only after all the standard checking has become lax.

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u/zuzg 13d ago

Early game : barely any illusionary wall.

Late game: here have a cave with half a dozen of them

:D

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u/House923 13d ago

Do we really need another video game now that we have Elden Ring?

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u/fred11551 13d ago

I agree. Loved all three of them and am looking forward to the next one with a new dev. The first one had the best story by far for me. I never found Trinity to be an interesting villain. Being trapped on an island with cultists and discovering the curse and all that was much more interesting to me.

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u/HollowHaze 13d ago

I liked the one with the dinosaurs.

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u/Silent-Wills 13d ago

Tomb Raider Trilogy was great. The first one is one of my favorites survival games of all time and also has the best narrative. Rise of the TR was the “perfect” one of the Trilogy: Great gameplay/graphics and also a good story. Shadow of the Tomb Raider story was a complete mess but gameplay/graphics wise it was perfect, I would say it was as beautiful and great to play as much as TLOU2.

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u/birdreligion 13d ago

I think SotTR has some of the better sequence in the trilogy. It's silly, but I love child Lara climbing her house to break in and solve a puzzle in her family.... Museum? Room?

I thought it was really fun

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u/nooneimportan7 13d ago

I still don’t know what really put me off shadow. I played the other two so much, and shadow isn’t all that different, but I still haven’t finished it.

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u/AshCarraraArt 13d ago

I absolutely love Shadow (more for the aesthetic) but totally get why it’s the worst out of the three. Levels mostly feel the same, game is slightly too long, and some of the plant graphics are choppy.

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u/Gemuese11 13d ago

Tomb raider III propably

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u/TheVoidAlgorithm 13d ago

isn't that the DLC for NieR Automata?

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u/IShootJack 13d ago

softly No.

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u/TheLeafyOne2 13d ago

Right click-> Save As

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u/Red__system 13d ago

Tell me more about it

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u/zuzg 13d ago

The Jimquisition did a video on it.

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u/Strawberry_Fireworks 13d ago

I guess I appreciate the context/info, but it was presented in the most obnoxious way possible.

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u/thedankening 13d ago

James' increasingly unhinged absurdity helps remind me I'm not the only one who has lost their mind over the last couple years, and I'll probably be okay in the long run. It's quite grounding.

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u/cheebamech 13d ago

holy shit you're not kidding, I haven't watched his stuff in a few years; that was...unexpected

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u/TheReal-Donut 12d ago

not to be THAT guy. but they came out as nonbinary a bit ago and use they/them. not a huge deal, dw

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u/BeerandGuns 13d ago

Me watching that video: Skip forward, skip forward, bail.

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u/biledemon85 13d ago

James Stephanie is probably an acquired taste at this stage, I've been following them for about a decade so I guess I'm just in for the wild ride by now. they have gotten more political and irate in recent years which is also a bit off-putting.

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u/CheezeCaek2 13d ago

When did Jim transition? Hope they're feeling better now. They were getting a bit... unhinged near the time I stopped watching

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u/Seconds_ 13d ago

Yeah, Sterling started losing a lot of subscribers about a year or so ago, myself included. They stopped talking about terrible Steam games & Boglins and stuff and just... stopped having fun

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u/sainglend 13d ago

Wtf is a Blockchain game?

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u/TheSubredditPolice 13d ago

Basically, the microtransactions will be handled by blockchain contracts.

In theory, this would make the assets you purchase for Tomb Raider available in other blockchain games.

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u/Complex-Knee6391 13d ago

In practice, it won't, because there's basically no profit in making games that hook off someone else's DLC, that you don't get paid for

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u/DaaaahWhoosh 13d ago

Yeah honestly when I hear 'blockchain game' I assume the major selling point is 'you can get paid to play it', because there was that one game that did that. But, well, you don't need a blockchain for that, I've seen ads for services where people will unlock items in Destiny for you. And guess what, a game people like to play is way easier to monetize long-term than a game people are only playing because they get money for it.

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u/Neo-Saigon 13d ago

That's like a black market. I've sold MMO gold before, it's kinda sketchy. If it's blockchain based, it'll be officially endorsed. You could make that work. Imagine Diablo 2 where you can trade items and they're verified as authentic via the blockchain. You get rid of hacked items that way

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u/AdventurousListen483 13d ago

This guy gets it. Trustless transactions across platforms

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u/TheSubredditPolice 13d ago

Yeah I don't really see them going anywhere, best use case I can think for NFTs is a trading card game.

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u/EducationalDay976 13d ago

Blockchains for gaming are dumb.

Decentralized ownership is the main advantage to blockchain. But with games, you need a centralized authority to actually use your tokens. One game granting you content for another game literally already exists - there's no technical barrier here that blockchains help overcome, purely a business decision.

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u/Supercoolguy7 13d ago

Except no one would do that because they'd have to create assets for other games just in case someone wanted to use an item that someone else got paid for in your game. Why would you put in all that effort to make someone else's game more functional?

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u/GiveMeDogeFFS 13d ago

It's a game in the Blockchain.

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u/DeckerR 13d ago

Think of the worst parts of mobile games. The half assed gameplay. The garbage graphics. The insane microtransactions.

Make those the soul of a game.

That is blockchain gaming.

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u/DPSOnly 13d ago

They weren't using it anyway. I would argue though that FF is their most famous IP globally, Tomb Raider is only well known in the West.

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u/JustAFreudianSlit 13d ago edited 13d ago

I mean, there's that guy that spent millions and sold for thousands. Which one you ask lol all of them. Eventually.

Crypto can be fucky if you don't look to the whitepapers and what not. But NFT's are straight up criminal lol pure pump and dumps linked to the shitcoin of the week before a ruggin'.

*uses snipping tool* Got your NFT bro! I'm glad it's so secure on the blockchain!

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u/pantsthereaper 13d ago

Dude, they go full copium about how saving an image is worthless if you don't have the NFT to act as a certificate, like how you can get copies of the Mona Lisa. Nevermind that someone can literally just set up a different block chain to make a new NFT of the same image, that you can actually touch the Mona Lisa (if you owned it), and that an old painting has value because of its history and quality not just because it's famous

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u/justagenericname1 13d ago

They have no conception of value outside of "nah nah nuh nah nah, I have it and you don't!" Being able to lord something you have over others who don't is what gives something worth to these people. I don't know about you, but that's not the type of person I want dictating the future direction of the economy.

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u/cerement 13d ago

So much of this being pushed by “libertarians” who haven’t figured out supply and scarcity mean nothing without demand …

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u/JustAFreudianSlit 13d ago

I'm tempted to start an NFT factory that doesn't do art. They just pick out existing NFT's and pump out a better license

It's the wild west out there, Jesse James they're asses

"Nonono person that lived here 20 years, I have the deed."

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u/pantsthereaper 13d ago

I'd say do it, but legitimately the environmental impact isn't worth it. They'll tell you electricity is wasted all the time by 24 hr ATMs and shit, but at least those provide service to a community instead of being a personal money machine for a gambling addict

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u/JustAFreudianSlit 13d ago edited 13d ago

Yea plus it's just the stupidest investment possible, if you can call it one. Everything is wrong with it. Apparently they are popular because youtubers like to scam their own audiences, and they get away with it. Sigh. It says a lot about the creators, but it says a lot more about their audiences.

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u/beff50 13d ago

Also 24 hour atms are not running 27 high power consumption GPUs. Dummest crap ever.

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u/Maximusincredibilis 13d ago

Wait what did square enix do?

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u/OctopusRegulator 13d ago

They sold their European division which held the IP for the Tomb Raider series and the Deus Ex series to a Swedish media company called Embracer for $300 million.

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u/AlarmingTurnover 13d ago

The companies aren't European, most of the companies square sold were Canadian.

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u/LastPuzzledRaccoon 13d ago

a Swedish media company called Embracer

AKA THQ Nordic

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u/texasstrawhat 13d ago

the fucked up years ago when the didn't make the second sphinx and the cursed mummy.

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u/Kendalls_Pepsi 13d ago

hopefully now they will make supreme commander 3

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u/asherfaust 13d ago

most famous IPs

You have no idea, my guy.

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u/National-Mud2107 13d ago edited 13d ago

$300 million is pocket change? Goddamn.

And considering they paid roughly 1/3 of that for the studio which has a razor thin profit margin (eidos at .65% compared to 14.2% for square Enix alone)

Makes business sense, but you can get mad about whatever bullshit narrative you want.

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u/cephal0poid 13d ago

$300 million is pocket change? Goddamn.

Here's a fun game:

Google X company and "quarterly profits."

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u/zuzg 13d ago

In a new report, Accenture (NYSE: ACN) estimates that the full value of the gaming industry now exceeds $300 billion, more than the combined markets for movies and music, driven by a surge in mobile gaming and an emphasis on social interaction during the COVID-19 pandemic.

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u/running_toilet_bowl 13d ago

How much would that be if you removed all the revenue generated by predatory MTX and loot boxes caused by lax legislation?

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u/Rozmar_Hvalross 13d ago

Rockstars shark cards alone earn like 700mil/year, it would at the very least be a noticeable dent

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u/KidneyKeystones 13d ago edited 13d ago

"Gaming industry" would include mobile games, like crazy gacha titles in Korea/Japan, and PUBG etc. for India and China.

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u/Time2kill 13d ago

Like, that is ridiculous. Can you provide any source?

Because going by https://sensortower.com/blog/top-mobile-games-by-worldwide-revenue-january-2022/ we have:

The top grossing mobile game worldwide for January 2022 was PUBG Mobile from Tencent with approximately $237 million in player spending. About 64 percent of PUBG Mobile’s revenue was from China, where it has been localized as Game For Peace, followed by 8 percent from the United States and 7 percent from Turkey. The full ranking of the top grossing mobile games for January 2022 is above. Game revenue estimates are from Sensor Tower’s Store Intelligence platform.

So can you share your source of 50mil/day?

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u/Maklarr4000 13d ago

I was always trying to figure out how people who seemed otherwise intelligent couldn't look at the NFT situation and not come away with the conclusion that "this won't last very long." So many fads come and go- how they managed to convince themselves that this one would be different is a mystery to me.

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u/Sondrelk 13d ago

Loads of people got burned on bitcoin by not getting in early enough, or worse still selling at a bad time. They are desperate to be in early with the next big thing so they can feel like savvy investors.

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u/PGLikedThat 13d ago

I got burned by MtGox and decided to just laugh at every crypto disaster from now on.

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u/cerement 13d ago

Well, he did make more money off Mt. Gox than he did off Magic: The Gathering Online eXchange …

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u/Numblimbs236 13d ago

The difference is that Bitcoin has a built-in scarcity mechanic that was guaranteed to raise the price (as long as there were buyers in the market), there was never any reason someone would want to buy your "picture of monkey" for more money than you did.

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u/proudbakunkinman 13d ago

there was never any reason someone would want to buy your "link to a picture of a monkey" for more money than you did.

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u/cerement 13d ago

Presentation was a big part of the problem: it was sold as buying pictures on the blockchain, but you were never buying the picture, you were buying a bookmark to a link on a blockchain that was currently decorated with a picture – that people didn’t see that as a red flag right off the bat …

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u/small-package 13d ago edited 13d ago

Bitcoin went from near worthless to millions a piece, it's not to be a "savvy investor", it's to get in on that, ie, a get rich quick scheme/scam.

Edit: misremembered the amount, it still went way tf up, my point still stands.

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u/CrackOrMeth 13d ago

Bitcoins never been worth even 100k lol definitely not millions each

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u/EtoshOE 13d ago edited 13d ago

This is the state of the public discourse

Honestly, if you're looking to build your opinion on crypto on /r/agedlikemilk, your opinion is worth less than a gallon of milk

Edit: This discourse is so fucking stupid, it's absolutely idiotic

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u/The_last_of_the_true 13d ago

My issue is so many crypto enthusiasts come off as super sleazy car salesmen types. And you better not dare say anything negative about it or the cult comes after you.

Honestly, they're a lot like Musk fanboys and Rogan fanboys.

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u/axltheviking 13d ago

Honestly, they're a lot like Musk fanboys and Rogan fanboys.

That Venn diagram is just a circle.

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u/PickyPanda 13d ago

Bitcoin is still stupid and will never be a Fiat currency. Most Web 3 projects are just trying to monetize every possible interaction between two parties and are doomed to fail.

- A Web 3 developer

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u/Mushy_Slush 13d ago

What is really the base difference between bitcoin and NFTs tho, especially once they've all been mined? Its just 19 million or whatever the amount of the same receipts stored in some blockchain somewhere compared to unique receipts tied to some hash of a picture.

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u/CoolMasterB 13d ago

Limited has value, each bitcoin is equal to another one, Infinite does not, and each nft is not equal to another.

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u/BorgClown 13d ago

It doesn't matter if limited, fungible or whatever. The value comes from how much people are willing to give for them. And I emphasize people, not crypto speculators. NFTs are worthless because their values were artificially inflated by speculators, they were bound to crash eventually, and now people see no value in them.

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u/DownshiftedRare 13d ago

each nft is not equal to another.

That is, in fact, the meaning of "non-fungible".

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u/Lost-Citron-1099 13d ago

Cuz they are still trying to pay off debt from their beanie baby collection

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u/angrydeuce 13d ago

Seriously though I remember buying up comics as a kid in the 90s thinking "man these are gonna be worth a fortune one day" after hearing about all the golden age comics selling for millions of dollars.

Problem is, those old comics were generally thrown out with the trash because nobody gave a shit about comics back then, hence why they're so valuable. Once everybody started hanging on to the shit like we did, they became worthless.

Maybe in 100 years I'd be able to flip my comics for a substantial ROI, but Im gonna be long dead by then.

I guess my point is, it seems like a lot of people can't figure out that by the time the general public hears about a thing, the real money has already been made and at best you're going to be fiscally swiffering up the crumbs. Better to pick something stable with a proven track record than to jump on any ridiculous fad investment.

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u/BidenWonDontCry 13d ago

Just hang onto all the shit you loved as a kid. Chances are when you grow up other people will be nostalgic for it and you can sell it for decent money. One example is how expensive retro gaming is.

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u/Raiquo 13d ago

and at best you're going to be fiscally swiffering up the crumbs.

This quote features poetry and ingenuity.

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u/Beingabummer 13d ago

People interested in crypto and NFTs are usually a specific type of person: male, early to mid-adult, financially stable but insecure about the future, sensitive to trends, and socially underdeveloped.

Scammers have actually figured out that if someone shows an interest in crypto and NFTs they are susceptible to scams because they are sensitive to trends and eager to 'hit it big' which is why it's so rife with it.

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u/BidenWonDontCry 13d ago

There's also a major lack of opportunity to make real money like our parents did. Things like buying a house feel unattainable. People start turning to crypto and risky stock trades.

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u/Touchy___Tim 12d ago

The stock market has returned 72% since 2017. Theres plenty of money to be made, people are just greedy and stupid

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u/ThreadBareReptile 13d ago edited 13d ago All-Seeing Upvote

A lot of it has to do with the cult tactics. If you are someone who wants to learn about NFTs and crypto, SEO is often going to direct you to very insular and extreme communities very fast. Communities that use all of the same tactics that cults use to gain members like indoctrination through repetition, a "secret language" made up of memes and dogwhistles and in-jokes, isolating you from those who are critical, etc.

And this shit can work on anyone, even the otherwise "intelligent" because it operates on a lower level of your thinking than logic does.

EDIT: For anyone who likes this take and hasn't yet seen Line Goes Up, you should definitely check it out. You can watch a far smarter and more dedicated man than I talk about the cult-like behavior of crypto communities and much more.

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u/SageTurk 13d ago

This is one of the most clearheaded takes I’ve heard on the subject. Combine all that with cult rule number 1: thou shalt never criticize the leaders or doctrines of the cult - and you’ve got a template for every conversation I’ve ever had the displeasure of witnessing around NFTs

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u/Ruinwyn 13d ago

Crypto and NFTs have just enough inbuilt technobabble to sound impressive to those not really understanding tech. And the marketes heavily obscure the fact that proof of work is only to ensure investment from participants, not actually used for anything. The explanations sound just "dumbed down to layperson" instead of not actually having any sense. And lot of these rich people falling for this stuff have seen tech solutions they couldn't understand the business case for, become huge businesses (facebook, uber, google). And because of survivor bias, they only remember the successful ones, not the failures and scams.

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u/Wows_Nightly_News 13d ago

The thing about smart people is they often convince themselves they’re smarter than everyone else, even in topics they know nothing about. Add that both general masses and “the man” are telling people it’s a fad, and contrarianism kicks in. “Well if the dumbs and the people who control them are saying it’s a bad idea, then it must be good!”

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u/quannum 13d ago

I think this is a big part of it. People who are "intelligent" or perceived to be intelligent are usually only smart or good in certain areas. Few people are well-versed and intelligent across many different fields.

Someone might be good at math and programming but are they also well-read in finance and social-engineering? Another might be well cultured and socially adept but have a hard time with numbers and science topics.

It happens with reddit comments. You see someone post about a topic you know and go "hey, that's not right!". But then the next comment is about something you know nothing about and "well, I don't much about it and they sound confident/right".

Both comments were made with confidence and sound right if you don't know the topic. It happens with everyone at some point, myself included.

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u/Pika_Fox 13d ago

NFTs have practical uses and arent exactly a new thing.

The problem is no one uses them for their practical uses and stupid people and their money are easily separated.

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u/VogonWild 13d ago

NFTs have practical uses but they are even more practical with other technologies. Anything you can do with an nft you can do with something else for cheaper. The only thing NFTs have on any other technology is that it's the flavor of the month and people are using it to scam gullible people.

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u/sp00dynewt 13d ago

Perhaps you're overestimating people's intelligence

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u/themilesman8 13d ago

Lol I saw Busta rhymes at jazz fest in New Orleans last weekend and he was talking about his new NFT available for purchase…

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u/2112Lerxst 13d ago

See that's what NFTs are actually good for. Your favorite band, sports team etc. it's a collectible that can be verified, and would be worth it if it was like $10-$100, just like some signed memorabilia.

People trying to claim that they are an asset or financial tool (at least right now) are out of their mind. The idea of putting any money you're not comfortable losing into NFTs is just crazy.

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u/cwmoo740 13d ago

I would rather get a physically signed object like a record or a pair of shoes or something

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u/Nowhereman123 13d ago

Exactly, if I wanted a unique collectable memorabilia item I wouldn't want a completely digital item that's only theoretically unique because of some algorithm check. I'd want an actual physical item I could actually hold and keep without requiring an internet connection.

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u/IMSOGIRL 13d ago

NFTs have some use in verifying authenticity but it's not much different than modern certificates other than it being p2p vs centralized. I mean it's literally blockchain technology.

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u/morocco3001 13d ago

Even those are only worth anything if you have a COA or some sort of proof. I've got some boxing memorabilia signed by Henry Cooper, Manny Pacquiao, Shannon Briggs etc... Don't have COAs or photos of any of the items being signed. They're cool collectables but ultimately worthless as any sort of an investment.

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u/spottyottydopalicius 13d ago

they're priceless to you if you're a fan though.

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u/Chindasuinth 13d ago

This is what NFT people fundamentally cannot understand. Collectibles are not always about the money, but their entire worldview is based on monetizing basically everything. That’s why they only ever talk about exchange value of unique items, it is all NFTs are even theoretically good for.

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u/drearyplane8 13d ago

They're not even that good for that cos you have to burn a truckload of coal for each one

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u/temporaryHumanBeing 13d ago

Legitimate question: do you know how to quantify the environmental impact of an NFT in like energy usage/coal burned or something? Something like a collectible for a sports team would have a direct comparison to a trading card which also has an environmental impact (paper production, printing, shipping, etc), and I’m not sure how to compare.

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u/candb7 13d ago

Not sure about NFTs but one Bitcoin transaction takes 1173 kWh. You could charge a Tesla Model Y fully 15 times over for that. It’s completely insane.

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u/abado 13d ago

Damn that is so much, putting that into context really helps. I knew that it used a lot of electricity but charging a car 15 times over for 1 transaction is just mind boggling.

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u/tomtttttttttttt 13d ago

For proof-of-work blockchains, yes. You can see the hash rate of a blockchain and from that estimate the power draw of the ASICs/GPUs/CPUs that would be needed to create that much hashing power. (hashing is what the computers do to conduct the transactions that create the next block in the chain).
On top of that is the environmental impact of the computers themselves, especially ASICs which bitcoin miners use as they cannot be used for anything else afterwards (ASIC stands for Application Specific Integrated Circuit, it's a computer built to do one thing and can't be repurposed).

For proof-of-stake blockchains you can't estimate power usage afaik but proof of stake was invented to remove the issue of power consumption that proof of work has so it doesn't really matter in the context of this question.
proof of stake certainly doesn't have the same need for specialised computers but in all honesty I don't know how this works in practice, but you don't need computers in the way you do for proof of work.

Both will have some need for servers and other general internet infrastructure.

afaik, most NFTs are minted on proof of stake blockchains, but they all sit on Etherium which is proof of work at the moment, and most transactions for NFTs are conducted using Etherium. There are plans to make Etherium proof of stake but this has been in the pipeline for some time and there's no actual date for implementation at the moment.

Bitcoin is proof of work.

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u/Dkill33 13d ago

Tell me why I want one? I buy merch and go to shows of bands I like. If I want a wallpaper for my phone or PC I'll just download one. If it is to support the band then I'd rather just give money to the band. Again please explain why I want to own digital art and how it helps the bands?

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u/scottinadventureland 13d ago edited 13d ago

Ok help me out. I am not a dumb person but I can’t for the life of me understand this. Why, why, why would a digital image have any inherent value, even if you are the verifiable sole owner? I mean…isn’t a screenshot just as good? Who the hell collects digital representations of art, athletes, etc?

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u/Beamerthememer 13d ago

I love how NFT people spent months advertising and telling other people about the Blockchain and etherium just for the internet to collectively decide that it’s fucking stupid

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u/Staltrad 13d ago

Been done a million times with all these “Xcoins” and people still fall for it.

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u/truesoul42 13d ago

Xcoins?

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u/My_G_Alt 13d ago

Alt coins, so many of them. Bitconnect, Luna, ponzis

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u/truesoul42 13d ago

Yep got it, didn't know if they were referring to something specific.

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u/RedOrangeYellowGreen 13d ago

Bitcoin or dogecoin

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u/nanselx 13d ago edited 13d ago

Houses have intrinsic value outside their financial value. If the housing market crashes again, people will still need houses for as long as... (Let me see), FOREVER. NFTs only have financial value, if it crashes, all you have is poorly made digital art.

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u/ZGuest 13d ago

You dont even have poor digital art. You have a link to what was once poorly made digital art, that is now returning 404 cause the money is gone and the server couldn't be paid for anymore.

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u/Most-Consequence8705 13d ago

Yeah, at least if you sell someone an NFT, they should also get the server and the hosting costs, then it'll be exactly like buying a house but instead of property taxes, you pay for the server.

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u/Known-Temperature288 13d ago

Read this in reverse flash’s voice

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u/nanselx 13d ago

“It was me barry. I ran targetted crypto ads at you influencing you to buy NFTs knowing fully well that you would lose your life savings”

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u/ProtoChaos 13d ago

That's accurate, mention anything bad about crypto/NFTs and a monkey will spawn from the darkest crevices of the fire pits of hell and will "educate" you on finances and how he's going to the moon.

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u/CarneDelGato 13d ago

“Have fun staying poor,” I believe is the refrain when you don’t immediately drink the kool-aid.

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u/mpyne 13d ago

Yep. Turned out real handy to throw back to all the Luna/Terra cointrons

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u/ProtoChaos 13d ago

HFSP is the staple of their toxic positivity. It's all about the community, about making it to the moon, and if you get just slightly skeptic, well...

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u/whalemix 13d ago

That absolute clown at the bottom trying to argue that a picture of a monkey that cost you half a million dollars is less of a liability and therefore better investment than a house

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u/smallangrynerd 13d ago

This incredibly volatile, unpredictable, and practically worthless receipt for a jpeg? Amazing investment. No liability or risk involved. Pure asset.

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u/bongsforhongkong 13d ago

Who would have imagined a ponzi scheme as a currency on a platformh so unstable as the internet wouldn't work out. Not me /s

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u/theflyingfucked 13d ago

Ponzi schemes are controlled from the top

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u/Economy-Somewhere271 13d ago To The Stars

It's a decentralized Ponzi scheme!

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u/Ashittyparrot 13d ago

Truly the future

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u/bamfalamfa 13d ago

90% of bitcoin is owned by 2% of holders. now imagine what its like in these illiquid trash markets?

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u/[deleted] 13d ago

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u/Stylishipx 13d ago

I think once this crash is over, only bitcoin and couple of others are gonns survive

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u/AMViquel 13d ago

This is actually good for bitcoin.

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u/Nawaf-Ar 13d ago edited 13d ago

Bro, I’m LOVING this hard.

I’m “close-minded, and short-sighted”, for warning people about this, but at least I had the foresight to see that coming.

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u/CrossP 13d ago

So many "I told you so"s to friends and family. Best schadenfreude. If only MLMs collapsed at the top level instead of the bottom level. Still can't get those idiots out.

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u/El_Hugo 13d ago

See what coming? What happened with NFTs? I'm out of the loop.

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u/SpiritOfEternity 12d ago

They crashed like 90% of their value a week ago.

Seemed ugly pictures of monkey men maintained by fragile hyper links that could easily be broken demonstrated its lack of value and the tulip-mania fad broke down.

Waiting for the next absurd fad to start and repeat all over

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u/AlexPaterson16 13d ago

What really bothered me is that we all saw this coming, we saw literally everyone trying to make as much money as possible quickly. Then famous people were on podcasts trying to justify NFTs and how they're the future and how they'll open up doors for artists. Anyone disagreeing with them would just be relentlessly mocked by the NFT bros in the comments as well.

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u/AnotherStatsGuy 13d ago

I’m more surprised NFTs lasted as long as they did.

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u/AlexPaterson16 13d ago

Yeah that also did surprise me but ponzy schemes will last as long as there's gullible people to buy in I guess

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u/KodysNuts 13d ago

It was funny watching all these "super smart" tech people fall for the same scheme 18 year old girls fall into selling knives door to door

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u/nanselx 13d ago

I really wanted to understand NFTs. I had like a dozen people explain it to me and it always boiled down to “what if it makes you a billionaire. What if Elon musk tweets the coin. Just have faith bro, #tech, beeple made 69 million”

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u/WaffIepants 13d ago

The underlying tech/possibilities of NFT is very interesting/promising. But the current use is pointless.

An NFT is essentially a completely unique certificate that can't be faked or forged, has a list of previous and current owners, and is one hundred percent yours; no company or entity can revoke it.

Now let's say you're in the sports memorabilia business where 50% of all things are counterfeit. This would be a perfect spot for a decentralized, unfakeable certificate that shows authenticity and ownership

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u/enja1231 13d ago

How do NFTs solve that?

Let’s say it’s a famous painting. Even if you have an unfakeable NFT certificate with the physical painting, who’s to say someone down the line didn’t swap out a fake painting? You’d think it was real because they have the NFT, but there’s still no way to be sure.

NFTs only work for 100% digital goods. The physical world requires trusting people, and once humans come into play the blockchain is useless.

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u/CarneDelGato 13d ago

An NFT and $2 will get you a cup of coffee nearly anywhere!

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u/johntheswan 13d ago

There are plenty of other better, more efficient, more secure ways of creating unique verifiable certificates. The data structure of blockchain is absolute trash.

Also NFTs are constantly stolen, revoked, given back, and moved around by centralized “community leaders.”

Please. There’s literally nothing worthwhile here even from a technology standpoint. Blockchain is old as hell. The hype is the only thing that’s new.

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u/Murgatroyd314 13d ago

An NFT is essentially a completely unique certificate that can't be faked or forged, has a list of previous and current owners, and is one hundred percent yours; no company or entity can revoke it.

The catch is that the only thing the certificate can prove is the chain of custody of the certificate itself. It cannot prove that the owner has any right to any other thing.

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u/permacougar 13d ago

After a long time hearing about them, a month ago I finally sat down and listened to a podcast about it (A16Z) and was thinking who cares about the chain of ownership or other things. Seems so niche and I don't understand why should people pay for them.

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u/Ebi5000 13d ago

I saw a tweet which said: " NFTs are MLM for people who think they won't fall for MLM" and it is so true.

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u/SomeOtherNeb 13d ago

MLM are also MLM for people who think they won't fall for MLM

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u/mydearwatson616 13d ago

Vector marketing can go fuck itself but Cutco does make good knives.

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u/GreenGemsOmally 13d ago

They're okay. Compared to a box set you'd get at Walmart they're great, but for the price you can get some excellent knives from decent companies that blow cutcos out of the water.

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u/phi1997 13d ago

Being smart at one thing doesn't make you smart at everything

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u/BkDz_DnKy 13d ago

Ah yes... having a place to live and sleep is a liability. Monkey is better.

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u/tjackson_12 13d ago

Nah buy those JPEG apes as an investment… leave the homes for people to buy and live in.

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u/willbeabandonedin1mo 13d ago

Was looking for this comment. Yes, please buy irrelevant strings of numbers tied to online 'art' with your excess money - I would really like to be able to buy a house for living in.

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u/dethmstr 13d ago

At least the house is a usable investment

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u/sp00dynewt 13d ago

I mean unlike NFTs land investments literally displace where people can live

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u/KelloPudgerro 13d ago

and nft's use insane amounts of energy with no real value

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u/SonicSingularity 13d ago

Except for the person who actually lives there

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u/Narradisall 13d ago

Watching NFTs burn with the rest of the market has been a nice silver lining. People absolutely deserve to get wiped out participating in these scams.

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u/DbZbert 13d ago

Mmmm, pixel monkey won't keep me warm in the winter and dry from the elements. Plus one's a scam the other isn't

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u/Weasel_Spice 13d ago

But which one?!

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u/DbZbert 13d ago

Rhymes with Donkey!

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u/thegreatpotatogod 13d ago

Hmm, must be the home key! /s

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u/bowsmountainer 13d ago

NFTs exist so that rich people can avoid paying taxes.

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u/GeoffGoblinrymple 13d ago

And the middle class can dream about being rich.

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u/GrimMagic0801 13d ago

Anyone who invests in crypto is basically the "They don't know I have x" meme. They think they're so smart, but in the end they'll think they're a "savvy investor" that's "going to the moon", when in reality they fell for a scam that gave them some poorly made art that has a purely speculative value, that they themselves won't sell because they think the value will somehow go even higher, only for it to crash into the ground in a spectacular manner.

It's actually kinda sad.

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u/PGLikedThat 13d ago

NFTs are unregulated, unregistered securities. Dumbest idea ever.

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u/Tacitus_Kilgore85 13d ago

If buying useless pixelated pictures is your thing,by all means, buy useless pixelated pictures. But honestly, buying a house is worth more than some useless overpriced images that you can just download and save to your computer at any time.

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u/FF267 13d ago

Exactly this. I like the image, I can download the image. Do I need to pay money to prove to someone somewhere that I own a unique and verifiable copy of the image? No. It cost me nothing and I merely enjoy looking at the image. NFT might only make sense if I intend to sell the image in anticipation of a profit. Realistically though, the list of potential buyers is limited solely to people who enjoy the same exact image AND who are likely looking to profit from selling the same image to someone else in the future. Sounds stressful. Looking at said image side by side it's NFT original though? No difference. Its the image that brings me joy, not knowing that x is the true owner. Pay for NFT and worry constantly about its future value? No thanks.

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u/WoolooandWoohoo 13d ago

Thank fucking god! What a fucking dumb fad

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u/RoRoar350 13d ago

Bro the beginning of that comment gives me “ackshually 🤓” vibes

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u/urbanlife78 13d ago

I still don't understand the picture of a monkey

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u/YouAreSoyWojakMeChad 13d ago

Great! This made me laugh and then i had to explain what i was laughing at to my wife, which meant i had to try to explain wtf a dumbass NFT was.

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u/hmnahmna1 13d ago

I can live in a house. I haven't figured out how to take shelter in an NFT.

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u/Boybobka 13d ago

I hope he didn't listen to that dude's advice, because he's fucking homeless now if he did

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u/The_Eye_of_Ra 13d ago

I think Busta Rhymes probably has a few houses already. I doubt even a few bad NFT purchases would completely break him.

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u/ahungrylilsandwhich 13d ago

Imagine thinking Busta cares about spending money at this point lol

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u/AtlasJan 13d ago

Just sold all of my crypto. I'm bailing, the culture has become too self-serving and toxic.

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u/xchadrickx 13d ago

Did you just buy in this morning?

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u/b3mark 13d ago

If you have to ask: buy neither and save the money till you're responsible enough to handle that sort of amounts of money.

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u/Kimolainen83 13d ago

The fact that nfts became a thing scares me. Buy a picture a unique online pictur. I said this is overhyped and tbh it looks like Nora are slowly dying