It’s hard to feel sorry for anyone who fell for a very obvious art grift. Even harder to be sorry for those caught grifting.
Even a cursory understanding of value would have told these people that pretty looking receipts are a piss poor investment, but no, they were convinced that NFT’s (a tech they obviously knew nothing about) held intrinsic value despite having nothing of value backing them.
Everyone caught up in the NFT art grift did so because they thought they could make a quick buck being ahead of the wave of the next big pump and dump like crypto and got fucked by their hubris. The grifter’s meanwhile were out here selling them graffiti’d up CVS receipts and saying they were worth the Mona Lisa.
The result? A perfectly valid and valuable technology has been completely disregarded by the public because 90% of people were too stupid to think before they bought into a tech they didn’t understand and they all lost money to grifters. Worlds most widespread art grift and everyone was played a fool, and a valuable tech has been discredited, misunderstood, and shunned.
Edit: I may have misunderstood and the person I’m replying to agreed with my assertation that the tech has been disregarded and that it expands to crypto as well. I expected that assumption was obvious and didn’t need to be stated directly and thought the poster was being disingenuous. Leaving my comment up for posterity.
Don’t conflate your ignorance with other people’s knowledge, go develop a better understanding of the tech rather than assuming it has no value because you’re too ignorant to learn about it.
Even crypto has a place, doesn’t mean it’s being used correctly by the majority of people.
I equate the public engaging in crypto and NFT’s to tribal folks who accidentally pick up a discarded radioactive canister, what they have is valuable in the right hands, dangerous to themselves.
Your original comment addressed exactly what I meant: not NFTs are the ponzi scheme but all crypto tokens are.
Nothing “perfectly valid and valuable” about blockchain - there are zero legit use cases that can’t be far more efficiently solved by conventional database tech (yes, also proof of stakes).
The reason is simple: the basis for the whole thing is trustlessness which does not exist - even in the crypto token world. You need trust to entry and to use it and I prefer a lawyer/notary over trusting some dev not putting bugs into my “smart” contract. I don’t trust the notary because of their fancy diploma either but because there’s a state that forces him to do right or lose his license/end up in prison. Nothing like that in your blockchain “trustless” environment.
Why do you think blockchain tech is as old as Android and has produced nothing but carbon dioxide and tears from “I’m gonna get rich quick” morons?
Because like any system to have trust it must be co-opted and regulated by the government and/or corporations and building the infrastructure and tools that make integrating with the block chain take time.
Also when you say that there is nothing that blockchain does that can’t be done by other systems, do you include up to the second global access and management of a decentralised ledger that can be directly integrated into all software systems with inbuilt security?
Because it seems like all those technologies are privately owned and managed, don’t have any interest in developing or providing global integration and access.
Blockchain has the potential to be the foundation of globalised services and systems, and crypto the basis for a world currency, just because we haven’t gotten there yet is like saying the wheel was useless before we invented cars. The use cases and implementation of the tech might currently be niche but that’s because we’re still developing the right vehicle for it to carry.
Lmao, have you ever a bought a domain name. Its not an NFT, lmao you don’t even own one permanently after buying u. You basically license one from a registrar and that expires after a set interval. There’s no NFTs involved.
You’re the third person to say the same thing. NFTs conceptually predate the existence of the blockchain and don’t need to be on it. Wikipedia or w/e you got your definition that says otherwise are simply wrong. And yes, I own several different domain names.
Except that they’re not. NFTs take something that exists - like domain names - and injects unnecessary Blockchain bs.
What added value does a Blockchain bring?
The result? A perfectly valid and valuable technology has been completely disregarded by the public
No. Stop. If blockchain, nfts, etc. had actual merit over what we already have rn, they would be used everywhere. But ever since the inception of the og blockchain, they do not. Because there is not a single actual use case of them that isn’t already done (and done better) by other tech.
So stop this “oh it was good, just misunderstood” nonsense. It was never good, and never will be.
It’s hard to feel sorry for anyone who fell for a very obvious art grift. Even harder to be sorry for those caught grifting.
Even a cursory understanding of value would have told these people that pretty looking receipts are a piss poor investment, but no, they were convinced that NFT’s (a tech they obviously knew nothing about) held intrinsic value despite having nothing of value backing them.
Everyone caught up in the NFT art grift did so because they thought they could make a quick buck being ahead of the wave of the next big pump and dump like crypto and got fucked by their hubris. The grifter’s meanwhile were out here selling them graffiti’d up CVS receipts and saying they were worth the Mona Lisa.
The result? A perfectly valid and valuable technology has been completely disregarded by the public because 90% of people were too stupid to think before they bought into a tech they didn’t understand and they all lost money to grifters. Worlds most widespread art grift and everyone was played a fool, and a valuable tech has been discredited, misunderstood, and shunned.
Damn, you were so close! Just expand what you said about NFTs to the whole crypto bullshit and you got it.
Edit: I may have misunderstood and the person I’m replying to agreed with my assertation that the tech has been disregarded and that it expands to crypto as well. I expected that assumption was obvious and didn’t need to be stated directly and thought the poster was being disingenuous. Leaving my comment up for posterity.
Soooo close!
Next time maybe try helping someone across the line instead of only being derisive.
deleted by creator
Your original comment addressed exactly what I meant: not NFTs are the ponzi scheme but all crypto tokens are.
Nothing “perfectly valid and valuable” about blockchain - there are zero legit use cases that can’t be far more efficiently solved by conventional database tech (yes, also proof of stakes).
The reason is simple: the basis for the whole thing is trustlessness which does not exist - even in the crypto token world. You need trust to entry and to use it and I prefer a lawyer/notary over trusting some dev not putting bugs into my “smart” contract. I don’t trust the notary because of their fancy diploma either but because there’s a state that forces him to do right or lose his license/end up in prison. Nothing like that in your blockchain “trustless” environment.
Why do you think blockchain tech is as old as Android and has produced nothing but carbon dioxide and tears from “I’m gonna get rich quick” morons?
Because like any system to have trust it must be co-opted and regulated by the government and/or corporations and building the infrastructure and tools that make integrating with the block chain take time.
Also when you say that there is nothing that blockchain does that can’t be done by other systems, do you include up to the second global access and management of a decentralised ledger that can be directly integrated into all software systems with inbuilt security?
Because it seems like all those technologies are privately owned and managed, don’t have any interest in developing or providing global integration and access.
Blockchain has the potential to be the foundation of globalised services and systems, and crypto the basis for a world currency, just because we haven’t gotten there yet is like saying the wheel was useless before we invented cars. The use cases and implementation of the tech might currently be niche but that’s because we’re still developing the right vehicle for it to carry.
deleted by creator
Are you replying to the wrong person? You quoted me.
Or are you disputing the tech has value?
Nvm, need to work on my own reading comprehension
NFTs do have value in narrow use cases. For instance Domain names are NFTs and incredibly important to the way humans interact with the internet.
Lmao, have you ever a bought a domain name. Its not an NFT, lmao you don’t even own one permanently after buying u. You basically license one from a registrar and that expires after a set interval. There’s no NFTs involved.
You’re the third person to say the same thing. NFTs conceptually predate the existence of the blockchain and don’t need to be on it. Wikipedia or w/e you got your definition that says otherwise are simply wrong. And yes, I own several different domain names.
Not sure you know what the token part of NFT means. Usually it’s the non fungible part, so congrats on being uniquely wrong.
At some point in time you’ll just have to unravel your word salad and realize that all things associated with this space are incredulous.
Except that they’re not. NFTs take something that exists - like domain names - and injects unnecessary Blockchain bs. What added value does a Blockchain bring?
No. Stop. If blockchain, nfts, etc. had actual merit over what we already have rn, they would be used everywhere. But ever since the inception of the og blockchain, they do not. Because there is not a single actual use case of them that isn’t already done (and done better) by other tech.
So stop this “oh it was good, just misunderstood” nonsense. It was never good, and never will be.
Is your only argument “wah, wah, wah, no!” because it’s not very convincing.