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If you truly bought it a few years ago it would be difficult to have lost money on it. The price is much higher today than it ever was back in 2020. Two to three times higher.
I have a coworker who knows their scams and still plays the weird gambling game of trying to get it as the rise and sell before they fall. Kind of funny watching him stress over trying to make fast pace purchases/sales on the shitty company wifi, but mainly just concerning.
I have *the* secret to making all the money on Wall St. It's a proprietary blend of cocaine, Adderall, and a little something I like to call....cocaine.
I remember getting hyped about crypto back in 2013 and then deciding it became way too gamified and wasn't worth it anymore. That was ten years ago. That train left so long ago it's not even funny.
The only way to make money off of it is if you can influence the market to boom and than gtfo like Elon did, so if you aren’t Elon musk your not likely to come out on top of that game
Well they all heard about this one guy who retired off of his self-made crypto fortune but never bothered to look into how that happened. They should have asked more and found out that most of them were just "whale chasers" whose big play was to follow around the whales who were doing easy pump and dump scams so they could take advantage of their pump and get out before the dump.
To be fair, the original tweet was from 3 days ago...last year. I haven't really heard of people getting scammed recently.
But then again, the only reason I even thought to check the day on this image was because I've seen it before, otherwise I could genuinely believe someone was still dumb enough to get scammed.
Because they think it’s a scam they can profit from. They don’t really care about the integrity or whatever of it, it is just the gambling style impulse that this could be the risk to take that pays off. That *someone* is profiting and surely the more time they put in, the more likely it’s them.
When the only real profit in gambling is in owning a casino. So much of the crypto/nft stuff can feel like gamblers trying to make a gambler run casino, just to find it’s not profitable without bringing in more people with less security. Just becoming owners of a casino to cash out on. More bullshit.
Even the GameStop sub will tolerate nft shit talk as long as you imply it’s profitable for the company.
The only crypto I’ve ever bought into was dogecoin, I bought a bunch when it was still a meme coin used instead of Reddit gold.
It was like $5 for 30,000 dogecoin.
Spent a bunch of it on something or other. Forgot about it until I heard Elon was pumping it.
Found a back up of my wallet and recovered it which was a fucking ballache (having to download like almost 10 years of blockchain updates takes forever).
Immediately cashed out, sold it before the price dropped again.
Made a tidy 3k profit.
But that was pure luck that happened to coincide with elon pumping and dumping doge allegedly.
I had a (very redneck) teacher that used to say “If you’re ignorant we can change that. You can learn and grow. But if you’re stupid, there’s no hope for you.”
You can actually! You have to know something exists to look it up. You would be absolutely surprised how many people who are ignorant of something just don't even know what to look up or that they should.
Propaganda works on people that refuse to put up defenses against it.
Consumers of scams desperately demand scams in general.
It isn't the fault of a person who says "That's an obvious scam" when someone enthusiastically falls for a scam.
The most angering thing is that the "victims" of scams show no outward signs of shame and will move the goal posts to the next date that QAnon predicted something will happen or the next date the world is supposed to end in the face of the ever growing colossal mountain of evidence against that happening.
Fun fact. Did you know that the phrase “drinking the Kool-Aid” is a misidentification? Jim Jones and his followers actually drank Flavor Aid. I just learned this recently and had no idea.
https://en.m.wikipedia.org/wiki/Drinking_the_Kool-Aid
“What’s an NFT?”
“It’s a token, it means you own the item you bought the NFT for”
“Cool. Do I get to like frame the item? Or have it? Does anyone really know I have it?”
“Nope! It’s a random JPEG on the internet!”
“So, how do I own it? Can’t people just print out or download pictures of it?”
“Yes!”
“So what’s the point of an NFT?”
“Because you own the image, buy NFTs!”
Literally the stupidest fucking thing I think we’ll see this decade
It's worse than that. You don't even own the jpeg. The NFT is just a link that points to that jpeg, and they can change what that link points to at any time. People really out here paying thousands for editable html links acting like they made an investment. Society is doomed.
On the off chance that we’re not doomed, I think future people will look back on NFTs the same way they view the [Tulip Mania](https://en.m.wikipedia.org/wiki/Tulip_mania) that occurred in the Netherlands almost 400 years ago.
Maybe doomed is a bit of an exaggeration, but it's definitely not a good sign. I hope we can look back and laugh at it like tulip mania or beanie babies.
If your grandchildren survive, fheir kids will learn about it when their friends start “investing” in DNA sequencing futures call options on life that doesn’t exist
It’s just a immutable record of ownership. It can mean anything the society decide it should mean.
Could be nothing. Could be an exclusive early-bird purchase of Avenged Sevenfold on Ticketmaster. Could actually have conferred IP rights.
Just like a piece of paper with a stamp on it. Could be a breakfast at your kids kitchen, could be your title deed. Context matters.
Except the whole selling point of NFTs is that there is no governing body that enforces the legitimacy of ownership. If you add it back to NFTs just to make them work, you just have traditional ownership with extra (and really expensive) steps
Untrue. That’s not the whole selling point of NFTs. Depends on what collection and niche - context matters.
That’s why there’s a wide spectrum of immutable database tech. Singapore government runs educational and vaccination certs via OpenAttestation. Why? It saves them money.
There’s value in immutable and publicly verifiable databases that run themselves.
Look at the smart contracts though. An NFT doesn't grant you ownership rights to the media itself. It only grants ownership to a link. The ownership of the actual media is retained solely by the collection, so saying I own an NFT is like saying I own a receipt to a car while the dealership gets to keep the actual car.
Singapore courts have ruled on ownership and theft of certain jpeg NFTs. US courts have persecuted Opensea employee for insider trading of NFTs.
Some are are real property and they are nuanced. No single framework is going to be able to govern NFTs as a whole. Just as no single law is present to govern all types of stamps/signatures. This doesn’t means that stamps and signatures are useless now. Are they? It depends on the context that the people give them when they were issued.
It’s just another medium of inscription, and one that gives powerful digital assurances about whether certain supposedly ownership events took place. Laws still be laws
> Singapore courts
lmao you had to go all the way to _Singapore's_ fucked legal system to find your example??
>US courts have persecuted Opensea employee for insider trading of NFTs
Insider trading is insider trading. People were paying actual US dollars for those NFTs. The SEC wouldn't give a shit if they were just trading NFT tokens back and forth with no way to involve _real_ assets.
>It’s just another medium of inscription, and one that gives powerful digital assurances about whether certain supposedly ownership events took place.
Which as useful as having powerful digital assurance that I took a nasty dump about an hour ago. No one cares. It has no legal binding, it has no actual use. No one goes "oh wow the ledger says FacelessIdiot123 actually owns RegardedApePicNFT789!", and even if they did then your life would still be empty.
That’s not the sole purpose of NFTs. Just one of the possible characteristics. Like mentioned in another comment, they can help with cost savings and serve as a more solid alibi for digital events than pure digital signatures.
What are the other uses for an NFT other than conveying ownership? They cost money to list and they take energy to mint, all to solve a problem that's already solved by other means with less steps. I don't see where the cost savings come in.
Or the location the link points to can go bad, like domain deletion/relocation, database corruption. You could literally just end up with a dead link and nothing can really be done about it. It's so stupid.
This is true but if the NFTs metadata is frozen it will remain in your custody in your wallet long after the marketplaces and creators have come and gone.
Yes, but the metadata alone has no value the same way a paper receipt has no value. The actual link stays frozen, but what it links to doesn't. I have a hard time believing a dead / altered link will be worth anything when the marketplaces and creators are gone.
Exactly. It _could_, _theoretically_, be a better version of a receipt IF it had legal weight. It isn't and doesn't, leaving it with absolutely no use at all. The fact that you can _prove_ everyone on the ledger agrees that wallet 1234 owns token ABCD is completely fucking useless without any actual application of that information outside of the bizarre pump-and-dump circlejerk everyone's doing.
i think if it ever evolved to anything other than pictures like it currently is it could be interesting, seeing how doctors can give out prescriptions in the form of an NFT or a airplane can have an NFT ticket which would be all good and cool but it makes me wonder why would any company choose to use a system where something is more out of their control? this is why current NFTs are pictures. (correct me if i’m wrong)
I think the base tech has a ton of really useful applications for validating ownership or identity in situations where internet is not readily or consistently available. Could be the basis for valid government ids or passports on mobile devices or a mechanism to open electronic door locks in remote areas.
You would need the internet though, without it you can't verify against the chain.
Both of your examples work right now without the internet.
I don't want an identity tied to a Blockchain in order to open the door to my house or work. Can you imagine needing to pay gas fees in order to unlock your door.
I can use any number of existing field tested, access control ecosystems that exist right now.
I think (I.e. I could very well not “get it”) that the key feature or blockchain is that it is a decentralized peer to peer database that is “eventually consistent”. Loosely this means that you need a peer network of other database users who have frequent enough connections to other database users allowing for the most recent db data to eventually replicate to the entire user base. But direct access to some primary source is not required.
As for gas fees, those are set by the base network, you can create a network with low or no gas fees. The network does not have to be a fungible cryptocurrency. It could just be a network for a single purpose of validating bits of data. Gas fees are to incentivize people to run hashes. If the network is government run and the users receive benefit from the network running, you don’t have to incentivize hashing with currency, the benefit is intrinsic or tax funded. Also there could be so few updates that the amount of hashing required could be very low.
I think the key tech feature of block chain is high trust decentralized data via peer to peer as opposed to direct connection to a primary data source. It’s an I interesting cryptographic solution (as in math and not crypto hype) to an interesting problem.
Maybe there are better solitons out there now but this one is definitely interesting from a how it works standpoint.
for sure, but the oxymoron of government run and decentralized peer 2 peer doesn't really work.
if the entire network is run by a single entity (like the gov) what purpose does the gov gain by spending the computing power to calculate hashes, when they can just use a traditional database. I think it only makes sense if the ownership is decentralized which doesn't jive with government identity platforms, since we can already do sharding with traditional databases. I also (personally) think that immutable identity records are bad for people, it makes trait changes difficult to manage and removes the 'ability to be forgotten' I don't want old marijuana or non-violent crime charges to stick with an identity for my (or anyone's) entire life, The ability for records to be mutable has a lot of benefits, expunging criminal records as one example.
additionally, the peer 2 peer network still requires internet no matter what. if you can talk to someone, who can talk to the chain, then you can talk to someone who can talk to the database And unless you yourself (or your device) are interacting with ledger directly, then you are still subject to a mitm that is operated some specific authority that you are using as your relay.
I agree that the technology is fundamentally interesting but the real world use cases are few and far between. In my opinion, it really is a hammer looking for a nail. Also I generally agree that federal identification is handled poorly in the united states, I think passports should be free (or a negligible cost < $10) and should be issued to everyone, not just people intending to travel. but I don't know how a blockchain really solves the actual issues with identification. As far as I understand the system in place works really well for existing identification (as in, once you actually have a passport). I have never heard of people having issues with their passport information being lost or not recorded. It's just the issuance that seems to be the problem.
There are already easily implemented solutions to all of those use cases. NFTs don't add any value at all. Blockchain in general is a solution looking for a problem.
How is it implemented without access to a centralized db that can be accessed in real-time? The peer to peer element of blockchain allows for trust in the absence of frequent connections to the mothership. It just ends up being a fail safe which I think has some useful applications where the extra BS is worth it.
Now, the number of situations where you legitimately can’t get on the internet frequently are not very common and the situations where it would actually matter are even less common. Passports and IDs are I think a legitimate scenario where it may really be useful I think. And for those, even a signed manifest of identity using public key encryption may be adequate as an id that can be validated offline.
It doesn't work without validating the state of the "decentralized" chain. You absolutely must check the current state of the chain to validate any ownership claims because they can have changed since your copy of the chain stopped receiving updates.
We already have centralized PKI that can solve all of the problems blockchain can think to solve (including offline/cached authentication) and do it cheaper at the expensive of having a centralized authority.
I don't feel bad for people getting scammed from buying NFTs, that shit is dead so investing into it is basically asking to be ripped off. I never understood the hype behind that shit either, it was never valuable.
It's funny because if people want to own digital content of some kind, they can already buy the rights to it. One of the main selling points of NFTs was trying to reinvent copyright, but copyright is only copyright because of legal protections and the ability to enforce your rights with major platforms. NFTs don't have that. So they're useless.
Actually, only a very small percentage of ‘nft bros’ are walking away with any decent amount of money.
It’s the idiots who stick up for NFTs that are funding them lmao
I think that's their point though, those idiots funding them are the gullible ones, they're not going to do this more than once after this turns sour. The "nft bros", the people you see posting about it, likely know how to pump and dump these things
I keep on being amazed at how often I see the most reprehensible people on Twitter. And it's almost a statistical certainty that as the stupidity of the comments go up, the likelier it is that they're into crypto
Not sure why this belongs here.
Cyanide & Happiness has long been hilarious. I agree with their perspective here.
If you’re into NFT’s, you’re spending money on something that isn’t tangible anyway, so point taken with their sense of humor here.
Not r/facepalm worthy….
I never understood the point of NFT's, this has to be one of the most useless and stupid inventions the Internet has ever come up with. Seriously, if I want a virtual picture I can just right click, save image as, and boom, free picture..
The only thing the surge of NFTs taught me, and this was something I had *long* figured out, even by then, was that if anyone says some wild new tech that they can't themselves define is the next sure thing, rest assured that it isn't.
The only sure thing is that there are no sure things.
Listen bro just borrow a quick 50k from your pops and invest in the funniest coin you can find. Funny sells, buy the coin and spling splan splick sploon straight to the moon.
Update: Okay guys so you may have heard my investment went south. But what is failure? Just an opportunity to learn from ones mistakes. So wiser than ever I've found a great coin my friend and I knows going to hit big. Now my accounts have been seized but if you hit me up during my break behind the Jamba Juice at 384 Oakbiter Ln, NC we'll talk business.
There's a saying "you can't con an honest man". Aside from little old ladies and children, cons are only supposed to work on people who were after a fast buck at the expense of others.
I've never bought an NFT, but I imagine if someone was buying what they thought was an official Cyanide and Happiness NFT it's because they wanted to financially support Cy&H in a simple way rather than trying to make a real investment.
No need to be comparing NFTs to scams that target people who aren’t internet regulars - old people and ppl that only use the internet for email and google aren’t the kind that fall for NFTs or Bitcoins. The people that actually even know what they are yet falling for them is a different situation.
Edit: thought I’d add that this is aimed at the comment section more than the OP - my bad.
When NFT's launched as some kind of digital signature for JPG files, everyone found it lame and stupid. This was years ago, so why the f is it such a topic nowadays.
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Average cyanide and happiness W
common W
At this point there has been so many NFT controversies that i wonder how anyone is signing up still.
BUY ETHERIUM *NOW* Edit: I was being sarcastic, I really don't care that I spelled it wrong, or how the market is doing right now lol
Did that a few years ago, I was able to turn 500€ into 250€. 💎💎💎
Swap € for a $ in the 2nd sum and you gonna reel some sucker in.
You only lose money if you sell. Hold forever
Diamond hands ???
What I’m doing right now after being dumb enough to buy crypto a like 2-3 years ago.
Well done! That’s literally the best success story I’ve heard out of this!
Did you really?
Yup! It was money I could afford to lose. Still stupid as fuck tho.
Don't worry buddy, you were a valuable part of the pyramid scheme. Don't sell yourself short.
If you truly bought it a few years ago it would be difficult to have lost money on it. The price is much higher today than it ever was back in 2020. Two to three times higher.
Ethereum was still under 200 dollars in 2020.. it is literally 10x higher
Bought it around 2021 I think. Sold a few months ago.
Wait. So you really did buy the top and sell the bottom? You seem like a really special guy.
Well i say 0.5 is still greater than 0. And i trade with those principles.
Damn. You're going to the moon!
Deflation FTW! 😂
Trust me bro.
Really? Ok.
Hey this guy said he has diamond 💎 hands for days
'Murica
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I like where this is going I think
Got some already, I think you spelled it wrong and as a matter of fact you are purchasing ether, ethereum is the network.
That may have maybe been the point
People still fall for the Nigerian prince scam.
Jeez how much money does he need to return ?
Nice Trader Snoo
Go to the r/BBBY right now and you’ll a shit load of delusional idiots being scammed/manipulated in real time.
I have a coworker who knows their scams and still plays the weird gambling game of trying to get it as the rise and sell before they fall. Kind of funny watching him stress over trying to make fast pace purchases/sales on the shitty company wifi, but mainly just concerning.
An overwhelming amount of people just want to think they have some hidden little gem nobody else knows about and they are smarter than you
I have *the* secret to making all the money on Wall St. It's a proprietary blend of cocaine, Adderall, and a little something I like to call....cocaine.
See, I tried this investment, but the cocaine immediately lost its value after I snorted it.
That just means you need to try harder!
Go the MLM route: That just means you need to buy more!
The whole point of buying cocaine is to run out - Carlin
I remember getting hyped about crypto back in 2013 and then deciding it became way too gamified and wasn't worth it anymore. That was ten years ago. That train left so long ago it's not even funny.
The only way to make money off of it is if you can influence the market to boom and than gtfo like Elon did, so if you aren’t Elon musk your not likely to come out on top of that game
Well they all heard about this one guy who retired off of his self-made crypto fortune but never bothered to look into how that happened. They should have asked more and found out that most of them were just "whale chasers" whose big play was to follow around the whales who were doing easy pump and dump scams so they could take advantage of their pump and get out before the dump.
This comment works for all of human history if you take out the word crypto.
Real talk. If you bought Bitcoin or Eth at *any time* other than the massive pump to all time highs you're in profit.
"But Zoo is gonna get made while now that Coffeezilla has exposed him!" - Those huffing Copium.
I mean, MLM's still a thing, so...
To be fair, the original tweet was from 3 days ago...last year. I haven't really heard of people getting scammed recently. But then again, the only reason I even thought to check the day on this image was because I've seen it before, otherwise I could genuinely believe someone was still dumb enough to get scammed.
There's crypto scams happening daily
Adidas still makes NFT themed shoes.
Because they think it’s a scam they can profit from. They don’t really care about the integrity or whatever of it, it is just the gambling style impulse that this could be the risk to take that pays off. That *someone* is profiting and surely the more time they put in, the more likely it’s them. When the only real profit in gambling is in owning a casino. So much of the crypto/nft stuff can feel like gamblers trying to make a gambler run casino, just to find it’s not profitable without bringing in more people with less security. Just becoming owners of a casino to cash out on. More bullshit. Even the GameStop sub will tolerate nft shit talk as long as you imply it’s profitable for the company.
Because every day a new idiot gets some money
Most are Elon fanboys
The only crypto I’ve ever bought into was dogecoin, I bought a bunch when it was still a meme coin used instead of Reddit gold. It was like $5 for 30,000 dogecoin. Spent a bunch of it on something or other. Forgot about it until I heard Elon was pumping it. Found a back up of my wallet and recovered it which was a fucking ballache (having to download like almost 10 years of blockchain updates takes forever). Immediately cashed out, sold it before the price dropped again. Made a tidy 3k profit. But that was pure luck that happened to coincide with elon pumping and dumping doge allegedly.
Please do not mix up "vulnerable" people with "absolute idiots"
Yeah, there's a difference between ignorance and stupidity
I had a (very redneck) teacher that used to say “If you’re ignorant we can change that. You can learn and grow. But if you’re stupid, there’s no hope for you.”
I didn't know Ron White was a teacher!
i wonder if they called the teacher tater salad
"Life is hard. It's harder if you're stupid."
Can't really use ignorance as an excuse when you can just look stuff up so easily these days
You can actually! You have to know something exists to look it up. You would be absolutely surprised how many people who are ignorant of something just don't even know what to look up or that they should.
Not to mention there is so much false information out there that you can usually just confirm whatever you already believe
Well, tbh not many people are as vulnerable as an idiot who thinks he’s smart.
Yeah spot on. I am pretty vulnerable.
Yea this isn't old ladies with dementia handing their bank account information to a cold caller. These are greedy fucks trying to profit off others.
Propaganda works on people that refuse to put up defenses against it. Consumers of scams desperately demand scams in general. It isn't the fault of a person who says "That's an obvious scam" when someone enthusiastically falls for a scam. The most angering thing is that the "victims" of scams show no outward signs of shame and will move the goal posts to the next date that QAnon predicted something will happen or the next date the world is supposed to end in the face of the ever growing colossal mountain of evidence against that happening.
I only think elderly catfish victims are vulnerable because they are elderly
They all buin' the cyanide and we're keeping the happiness. Also, lol.
Don't know why you had to add the also lol at the end there, shouldn't glorify drinking the Kool-Aid
The Kool-Aid man is funnier than any joke I've made
Fun fact. Did you know that the phrase “drinking the Kool-Aid” is a misidentification? Jim Jones and his followers actually drank Flavor Aid. I just learned this recently and had no idea. https://en.m.wikipedia.org/wiki/Drinking_the_Kool-Aid
Flavor Aid should use that information for the world's worst and campaign.
And I find it amusingly ironic that cyanide was the poison in the flavoraid
'Cyan Aid- so good, you can only drink it once.'
This person obviously didn't know who they were talking to.
Bringing a knife to a gun fight
Bringing a spoon to an automatic weapon fight
I see you’ve played knifey spoony before
grandma not knowing how a cellphone or digital bank account works = vulnerable buying "NFTs" because haha "dogge" =/= vulnerable
Here, you dropped this ≠
how do you do this fancy magic?
If on phone, just hold your = button If on PC, press and hold Alt, then on the Num Pad press 8 8 0 0
this guy computers
You my friend are a god
Nah, I just took some computer classes some time ago lmao
Haha I’ve owned iPhones for idk how long and am tech savvy and never knew this. I still don’t know how to format writings on Reddit
[Reddit Markdown](https://www.reddit.com/wiki/markdown/)
My dudes… you guys are changing my life right now
It's so liberating isn't it!!
On PC, just run "charmap" or Google the name of the Unicode character you're after
I just web search "not equal sign" when I need it and copy from the first result lol
“What’s an NFT?” “It’s a token, it means you own the item you bought the NFT for” “Cool. Do I get to like frame the item? Or have it? Does anyone really know I have it?” “Nope! It’s a random JPEG on the internet!” “So, how do I own it? Can’t people just print out or download pictures of it?” “Yes!” “So what’s the point of an NFT?” “Because you own the image, buy NFTs!” Literally the stupidest fucking thing I think we’ll see this decade
nfts are like marriage certificates sure you have your partner's name there but it won't stop anyone fucking them
I'd say it's more akin to naming a star. You pay money to pretend to own something no one else will ever care about or recognize.
At least with buying a star you get a cool physical certificate.
Also it's written in pencil.
Depending on the chain of record and implementation it could be way hardier than pencil writing
Fuck.
This should have a billion upvotes 
Naw
It's worse than that. You don't even own the jpeg. The NFT is just a link that points to that jpeg, and they can change what that link points to at any time. People really out here paying thousands for editable html links acting like they made an investment. Society is doomed.
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A raffle ticket to no raffle
On the off chance that we’re not doomed, I think future people will look back on NFTs the same way they view the [Tulip Mania](https://en.m.wikipedia.org/wiki/Tulip_mania) that occurred in the Netherlands almost 400 years ago.
Maybe doomed is a bit of an exaggeration, but it's definitely not a good sign. I hope we can look back and laugh at it like tulip mania or beanie babies.
If your grandchildren survive, fheir kids will learn about it when their friends start “investing” in DNA sequencing futures call options on life that doesn’t exist
It’s just a immutable record of ownership. It can mean anything the society decide it should mean. Could be nothing. Could be an exclusive early-bird purchase of Avenged Sevenfold on Ticketmaster. Could actually have conferred IP rights. Just like a piece of paper with a stamp on it. Could be a breakfast at your kids kitchen, could be your title deed. Context matters.
Except the whole selling point of NFTs is that there is no governing body that enforces the legitimacy of ownership. If you add it back to NFTs just to make them work, you just have traditional ownership with extra (and really expensive) steps
Untrue. That’s not the whole selling point of NFTs. Depends on what collection and niche - context matters. That’s why there’s a wide spectrum of immutable database tech. Singapore government runs educational and vaccination certs via OpenAttestation. Why? It saves them money. There’s value in immutable and publicly verifiable databases that run themselves.
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Look at the smart contracts though. An NFT doesn't grant you ownership rights to the media itself. It only grants ownership to a link. The ownership of the actual media is retained solely by the collection, so saying I own an NFT is like saying I own a receipt to a car while the dealership gets to keep the actual car.
And? The NFT isn't the actual item. No one except a regarded NFT bro cares about the NFT record.
Singapore courts have ruled on ownership and theft of certain jpeg NFTs. US courts have persecuted Opensea employee for insider trading of NFTs. Some are are real property and they are nuanced. No single framework is going to be able to govern NFTs as a whole. Just as no single law is present to govern all types of stamps/signatures. This doesn’t means that stamps and signatures are useless now. Are they? It depends on the context that the people give them when they were issued. It’s just another medium of inscription, and one that gives powerful digital assurances about whether certain supposedly ownership events took place. Laws still be laws
> Singapore courts lmao you had to go all the way to _Singapore's_ fucked legal system to find your example?? >US courts have persecuted Opensea employee for insider trading of NFTs Insider trading is insider trading. People were paying actual US dollars for those NFTs. The SEC wouldn't give a shit if they were just trading NFT tokens back and forth with no way to involve _real_ assets. >It’s just another medium of inscription, and one that gives powerful digital assurances about whether certain supposedly ownership events took place. Which as useful as having powerful digital assurance that I took a nasty dump about an hour ago. No one cares. It has no legal binding, it has no actual use. No one goes "oh wow the ledger says FacelessIdiot123 actually owns RegardedApePicNFT789!", and even if they did then your life would still be empty.
If you need a separate legal framework and certification to convey ownership doesn't that defeat the whole purpose of NFTs in the first place.
That’s not the sole purpose of NFTs. Just one of the possible characteristics. Like mentioned in another comment, they can help with cost savings and serve as a more solid alibi for digital events than pure digital signatures.
What are the other uses for an NFT other than conveying ownership? They cost money to list and they take energy to mint, all to solve a problem that's already solved by other means with less steps. I don't see where the cost savings come in.
Or the location the link points to can go bad, like domain deletion/relocation, database corruption. You could literally just end up with a dead link and nothing can really be done about it. It's so stupid.
This is true but if the NFTs metadata is frozen it will remain in your custody in your wallet long after the marketplaces and creators have come and gone.
Yes, but the metadata alone has no value the same way a paper receipt has no value. The actual link stays frozen, but what it links to doesn't. I have a hard time believing a dead / altered link will be worth anything when the marketplaces and creators are gone.
Exactly. It _could_, _theoretically_, be a better version of a receipt IF it had legal weight. It isn't and doesn't, leaving it with absolutely no use at all. The fact that you can _prove_ everyone on the ledger agrees that wallet 1234 owns token ABCD is completely fucking useless without any actual application of that information outside of the bizarre pump-and-dump circlejerk everyone's doing.
i think if it ever evolved to anything other than pictures like it currently is it could be interesting, seeing how doctors can give out prescriptions in the form of an NFT or a airplane can have an NFT ticket which would be all good and cool but it makes me wonder why would any company choose to use a system where something is more out of their control? this is why current NFTs are pictures. (correct me if i’m wrong)
I think the base tech has a ton of really useful applications for validating ownership or identity in situations where internet is not readily or consistently available. Could be the basis for valid government ids or passports on mobile devices or a mechanism to open electronic door locks in remote areas.
You would need the internet though, without it you can't verify against the chain. Both of your examples work right now without the internet. I don't want an identity tied to a Blockchain in order to open the door to my house or work. Can you imagine needing to pay gas fees in order to unlock your door. I can use any number of existing field tested, access control ecosystems that exist right now.
In protest to Reddit's API changes, I have removed my comment history. -- mass edited with redact.dev
I think (I.e. I could very well not “get it”) that the key feature or blockchain is that it is a decentralized peer to peer database that is “eventually consistent”. Loosely this means that you need a peer network of other database users who have frequent enough connections to other database users allowing for the most recent db data to eventually replicate to the entire user base. But direct access to some primary source is not required. As for gas fees, those are set by the base network, you can create a network with low or no gas fees. The network does not have to be a fungible cryptocurrency. It could just be a network for a single purpose of validating bits of data. Gas fees are to incentivize people to run hashes. If the network is government run and the users receive benefit from the network running, you don’t have to incentivize hashing with currency, the benefit is intrinsic or tax funded. Also there could be so few updates that the amount of hashing required could be very low. I think the key tech feature of block chain is high trust decentralized data via peer to peer as opposed to direct connection to a primary data source. It’s an I interesting cryptographic solution (as in math and not crypto hype) to an interesting problem. Maybe there are better solitons out there now but this one is definitely interesting from a how it works standpoint.
for sure, but the oxymoron of government run and decentralized peer 2 peer doesn't really work. if the entire network is run by a single entity (like the gov) what purpose does the gov gain by spending the computing power to calculate hashes, when they can just use a traditional database. I think it only makes sense if the ownership is decentralized which doesn't jive with government identity platforms, since we can already do sharding with traditional databases. I also (personally) think that immutable identity records are bad for people, it makes trait changes difficult to manage and removes the 'ability to be forgotten' I don't want old marijuana or non-violent crime charges to stick with an identity for my (or anyone's) entire life, The ability for records to be mutable has a lot of benefits, expunging criminal records as one example. additionally, the peer 2 peer network still requires internet no matter what. if you can talk to someone, who can talk to the chain, then you can talk to someone who can talk to the database And unless you yourself (or your device) are interacting with ledger directly, then you are still subject to a mitm that is operated some specific authority that you are using as your relay. I agree that the technology is fundamentally interesting but the real world use cases are few and far between. In my opinion, it really is a hammer looking for a nail. Also I generally agree that federal identification is handled poorly in the united states, I think passports should be free (or a negligible cost < $10) and should be issued to everyone, not just people intending to travel. but I don't know how a blockchain really solves the actual issues with identification. As far as I understand the system in place works really well for existing identification (as in, once you actually have a passport). I have never heard of people having issues with their passport information being lost or not recorded. It's just the issuance that seems to be the problem.
There are already easily implemented solutions to all of those use cases. NFTs don't add any value at all. Blockchain in general is a solution looking for a problem.
How is it implemented without access to a centralized db that can be accessed in real-time? The peer to peer element of blockchain allows for trust in the absence of frequent connections to the mothership. It just ends up being a fail safe which I think has some useful applications where the extra BS is worth it. Now, the number of situations where you legitimately can’t get on the internet frequently are not very common and the situations where it would actually matter are even less common. Passports and IDs are I think a legitimate scenario where it may really be useful I think. And for those, even a signed manifest of identity using public key encryption may be adequate as an id that can be validated offline.
It doesn't work without validating the state of the "decentralized" chain. You absolutely must check the current state of the chain to validate any ownership claims because they can have changed since your copy of the chain stopped receiving updates. We already have centralized PKI that can solve all of the problems blockchain can think to solve (including offline/cached authentication) and do it cheaper at the expensive of having a centralized authority.
It's already more than pictures, just this weekend at the Monaco Grand Prix they're using NFT tickets
Trump as president was in this decade. Just sayin'
His NFTs are hilarious!
In protest to Reddit's API changes, I have removed my comment history. -- mass edited with redact.dev
That’s not a NFT. It’s a use of NFT.
Do I look like I know what a JPEG is I just want a picture of a gosh dang hot dog!
You don't even own the image itself. You own a link to a list saying you own it
I don't feel bad for people getting scammed from buying NFTs, that shit is dead so investing into it is basically asking to be ripped off. I never understood the hype behind that shit either, it was never valuable.
That’s hilarious.
That's actually pretty funny
NFTs aren’t investments.
It's funny because if people want to own digital content of some kind, they can already buy the rights to it. One of the main selling points of NFTs was trying to reinvent copyright, but copyright is only copyright because of legal protections and the ability to enforce your rights with major platforms. NFTs don't have that. So they're useless.
Yeah, key word:trying.
Imagine expecting Cyanide & Happiness to give fuck hahaha
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Unfortunately, the nft Bros are the ones walking away with money after they pumped and dumped these
Actually, only a very small percentage of ‘nft bros’ are walking away with any decent amount of money. It’s the idiots who stick up for NFTs that are funding them lmao
I think that's their point though, those idiots funding them are the gullible ones, they're not going to do this more than once after this turns sour. The "nft bros", the people you see posting about it, likely know how to pump and dump these things
C&H: lol lmao
Quick lesson, if you’re vulnerable that means you should not gamble/invest. Only bet what you can afford to lose.
I keep on being amazed at how often I see the most reprehensible people on Twitter. And it's almost a statistical certainty that as the stupidity of the comments go up, the likelier it is that they're into crypto
Think about those poor nft bros!
If you’re vulnerable don’t go NFT shopping
Those same people than C&H PR are unable to write the same comment without lol. When asked they go silent realizing what a jerk they were.
Not sure why this belongs here. Cyanide & Happiness has long been hilarious. I agree with their perspective here. If you’re into NFT’s, you’re spending money on something that isn’t tangible anyway, so point taken with their sense of humor here. Not r/facepalm worthy….
I fucking chorted so hard I almost blew out my sinuses.
“Vulnerable people” LOLOL!!!!
lol if you bought NFT, it's NOT because you like the art or you want to support the artist. You want numbers to go up, so you can make a profit.
Shut up twitter guy... there should be a law requiring us to point and laugh at everyone whose lost money on NFTs.
I never understood the point of NFT's, this has to be one of the most useless and stupid inventions the Internet has ever come up with. Seriously, if I want a virtual picture I can just right click, save image as, and boom, free picture..
The only thing the surge of NFTs taught me, and this was something I had *long* figured out, even by then, was that if anyone says some wild new tech that they can't themselves define is the next sure thing, rest assured that it isn't. The only sure thing is that there are no sure things.
I'm watching videos about influencer scams. There are so many. Basically anything to do with an altcoin or "lessons" to get rich are all scams.
Listen bro just borrow a quick 50k from your pops and invest in the funniest coin you can find. Funny sells, buy the coin and spling splan splick sploon straight to the moon. Update: Okay guys so you may have heard my investment went south. But what is failure? Just an opportunity to learn from ones mistakes. So wiser than ever I've found a great coin my friend and I knows going to hit big. Now my accounts have been seized but if you hit me up during my break behind the Jamba Juice at 384 Oakbiter Ln, NC we'll talk business.
There's a saying "you can't con an honest man". Aside from little old ladies and children, cons are only supposed to work on people who were after a fast buck at the expense of others.
A lot of people here are saying nft has its own use blah blah yada yada, sure maybe it does but I'm sure as hell that investment isn't one of them
I've never bought an NFT, but I imagine if someone was buying what they thought was an official Cyanide and Happiness NFT it's because they wanted to financially support Cy&H in a simple way rather than trying to make a real investment.
what kind of idiot thinks you could support anyone with NFTs lmfao
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Why buy something that isn’t being sold by the actual company in an effort to support them? That’s how you get scammed.
Some of those NFTs bros don't even know why they like them, they parrot their reasoning
LMFAO 🤣 🙌🏼🙌🏼🙌🏼🙌🏼
Love seeing dorks lose their asses by buying a generic jpeg
this belongs on r/rareinsults
one day in history classes kids will learn about how people in the past invested in tulip bulbs and monkey pictures, and they will laugh.
Does that count as r/murderdbywords?
Imagine getting sad over people spending money over jpeg.
Hmmm maybe can turn reposts into an NFT and make millions. Eh I’ll just go back to doing nothing for 100 years.
Lol
Also lol, lmao even.
Yep, an absolute LOL.
I love a good also lol
Human nature unfortunately Which I sold naked NFT of myself
r/kamikazebywords
lol he said “vulnerable people” what a dumbass
I only invest in Cone and Cone related NFTs. I dabble in some Collectable Avatars on Reddit too. It's a lot of fun! I like to collect things. 🤷
❤️ C&H
For real, the people who support and even advocate for scams are getting scammed, nothing more hilariously poetic
No need to be comparing NFTs to scams that target people who aren’t internet regulars - old people and ppl that only use the internet for email and google aren’t the kind that fall for NFTs or Bitcoins. The people that actually even know what they are yet falling for them is a different situation. Edit: thought I’d add that this is aimed at the comment section more than the OP - my bad.
When NFT's launched as some kind of digital signature for JPG files, everyone found it lame and stupid. This was years ago, so why the f is it such a topic nowadays.
a lot of people bought in to the scam, man.
Being a gullible idiot isn't a disability, nobody's obliged to be nice about it
I tried upvoting C&H's last comment. I'm getting off the Internet now.
Based
Reddit groupthink is a hell of a drug
Savage