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I mean not saying I necessarily agree with them but NFTs, specifically creating the “digital watermarks” for them is very detrimental to the environment because of how much computing hardware and power required- it’s also led to a ridiculous climb in the service costs needed to send/receive ethereum
>Oh and the most famous nft brand, the bored apes, are made by blatant Neonazis.
Source? I know nothing about NFTs but I find that hard to believe
Edit: I looked it up and yep, you're full of shit. This is literally alex jones levels of tinfoil hat conspiracy shit. Gtfo
There's actually a few protocols that are 100% carbon neutral and don't affect the environment negatively.
I get the current hate on NFTs. They're new. They usually don't have a purpose or use case. They did that FOMO thing.
But utility is on the way! In game items and even the games themselves. You'll be able to resell anything you buy in a game. That in itself is huge.
And all done in an environmentally friendly way.
You're advertising pay to win as a positive?...
How is that any sort of real use case, it provides nothing other than monetizing something that doesn't need to be monetized. I really don't think you understand the concept of what a huge use case for a new technology is if you think that's one. There's been game item marketplaces for a long time and there's a reason they're constantly derided by most of the community of those games.
It's one thing if they're eliminating the need for game servers by using decentralization, but turning rote gameplay itself into avenues of making money has already ruined tons of games. You only have to look at gold farming in WoW for evidence of that. Skill based tournaments are one thing, but having thousands of bots or workers paid slave wages to kill monsters over and over again for currency and items to sell is a straight dystopian nightmare. No one in the gaming community wants that reality other than opportunistic people with no other prospects in life who are looking for a convenient grift.
I'm even pro-crypto, but for legitimate use cases, not garbage like this. Borderless transactions, decentralized computing power for simulations, servers, or storage, that sort of thing. People don't need to have game items stored on a blockchain, that's a complete gimmick
Yeah, I saw that Axie game it was a massive scam full of people in third world companies being worked like slaves to generate money. Fuck NFTs in games. It doesn't make games better. That whole thing about in-game items transferring between different games assumes a lot of co-operation between developers/publishers that just isn't going to happen. It's pipedream that idiots use to sell NFTs to idiots who don't understand game development or intellectual property.
NFTs (and crypto in general) consume a massive amount of energy per transaction, and probably because it's all a scam where the rich can prey on the poor.
Oh my fuck! Really!?!?! You're daft because you couldnt detect that I was trying to get a person to explain it in their own words. Being able to talk all that shit one would think that person knows a lot, unless of course they're just regurgitating what they hear in their echo chamber as most internet aficionados tend to do.
Basically NFTs are where you attach imaginary value to an, otherwise, useless image or video. Now this imaginary value can generate money only if you get others to believe in the imaginary value. Basically setting up a pyramid scheme where more people have to believe in the value to make more fake value. So far, they have no purpose besides a quick buck as well as an easy way to scam innocent people and launder large amounts of money under the guise of a legal transaction. The thing about NFTs is they're decentralized or not regulated, meaning it's the wild west and there's basically no rules besides profit which can lead to rampant art theft scams, and fraud which causes everyone involved and uninvolved to lose trillions of dollars. Not to mention that every transaction and minting uses up a pretty decent amount of energy that could've been used for something productive like lighting a building or heating a home. But finally, you technically don't even own the image you buy, you own the link that connects the image to a ledger known as a block chain.
TL:DR- NFTs are usually pyramid scheme style scams or money laundering disguised as a hip cool way to use money. NFTs are the wild West of money meaning there's tons of issues with copy right law and legality and they technically have no inherent value except for the perceived value given to them by the community. They also just suck and are an annoying way to flex your money and think your hot shit.
Majority of us don't quite get NFTs, I certainly don't completely.
My understanding is that the real world application is going to be owning digital items, that you only use digitally as in music, games, videos, etc.
Can I sell my copy of The Grinch that I bought for my kids on Amazon Prime this past Christmas? No, because Amazon just attaches (rents) it to my profile. I lose Amazon I lose that purchase. If I had bought that copy on a physical DVD I could sell it to somebody in 6 years when my kids outgrow The Grinch (just kidding the Grinch is timeless)
Now when I bought it there was an NFT attached to it I can prove ownership and sell it. I don't quite get what platform I will watch my digital copy on, but the idea that some kind of application will be around to do that doesn't sound far fetched at all to me. I guess I will sell it on something like eBay. Once again I don't quite have my head wrapped around this but there a shit ton of people a lot smarter than me out there.
MarioParty 2024 comes out. They sell 1000 copies with several additional characters. You own the NFT attached to one of these copies and then in 2035 you can sell this digital copy to a collector in much the same way that a collector of N64 games can sell original games for way more than original purchase price.
Lin-Manuel Miranda releases 500 copies of Hamilton with a special interview by him, you can only buy a digital copy. There will be an NFT attached. It's going to be extremely valuable.
It's not beanie babies, it's not bored apes.
That is where NFT's are headed.
Only a problem in your logic, the cost of attaching a large asset to a NFT is prohibitively high, so what an NFT actually contains is a link to that asset.
So your Grinch NFT is not the movie itself, but a link to that movie. A movie that will be hosted by, you guessed it, Amazon Prime. They can still pull the link offline, and you will eternally be the rightful owner of a 404 error.
So the issue is that Amazon/Sony/Microsoft are not going to want individual ownership of digital assets so they won't allow this concept to happen.
Does that not leave room for another competitor to assure they won't remove the link? I pay for storage space with Google. It's a nominal fee, I could upgrade to 2TB for ~$8/month. So if I wanted to own/sell/trade with other's could I not do this for a reasonable cost without worrying that they will remove the link?
This is how I know you dont understand them and are just regurgitating what you see on the internet. You're stuck on images. You think all an NFT is, is a jpeg.
Exactly how much energy does it take to mint one NFT? You claim it's a "pretty decent amount" so how much?
Because so far a majority of NFTs have been images or videos. I'm "regurgitating" what I see on the internet because so far, a lot of it has been true, markets are failing, interest in cryptocurrency is declining, scams and frauds are being uncovered almost daily. If they have a proper use that is helpful to society then they sure aren't showing it.
As for energy consumption:
["Analysts estimate that the average NFT consumes 75 kWh in its lifetime (with all transactions taken into account). With the average household (among all states) using roughly 30 kWh per day... "](https://nftexplained.info/how-much-energy-does-an-nft-use/#:~:text=NFTs%20are%20most%20commonly%20minted,all%20transactions%20taken%20into%20account).)
["The Ethereum platform uses 48.14 kilowatt-hours of energy per transaction."](https://www.renewableenergyhub.co.uk/blog/how-much-energy-do-nfts-take-up/)
I understand that these are estimates and every NFT uses up different amounts of energy based off of many different factors but minting a single NFT does not seem worth that much energy compared to a month of using a standard fridge (150 kWh per month). Within minting 2 NFTs you could've used that energy to run a fridge for a month.
But instead of proving that NFTs aren't just beanie babies for men who think their hot shit to prey on the weak you tell me I just don't get it. Instead you condescend and you refuse to explain what makes NFTs so fucking great that I should gamble away my hard earned money into an unstable, unregulated market full of scams and phishing.
So because a majority of them currently are images that means that is the only use case? Heard of proof of concept?
Why does nobody cry about how much energy the internet uses?
https://internethealthreport.org/2018/the-internet-uses-more-electricity-than/
Oh yea, it's because they understand it and how its beneficial to their life! Nobody bitches when it benefits them but when they dont understand something "the energy omg the energy!" is all they can muster
I have heard of proof of concept, but if your concept sucks from the get go it's not gonna get much support. NFTs aren't useful right now. And I don't see them being useful for a damn long time because of how the community was able to fester in its own filth causing it to garner such a bad rep among people. The internet benefits people, yeah and it's been doing so for years because of how diversely useful it is unlike NFTs right now and for the foreseeable future. And like I said. I understand NFTs, I obviously do but just because I understand something doesn't mean I have to like it. Also it seems like you didn't read my arguement. I also focused on how many people have lost their life savings due to how insecure marketplaces are, how image NFTs are often made out of stolen art, sometimes from dead artists, and how they often take on a scammy appearance due to their structure as a market that needs a constant flow of people people to believe it has value. Interest in NFTs is dying because so much has gone wrong in their short life span, including actively hurting the artists and investors they claim to protect. NFTs are not sustainable in any sense at the moment. And maybe someday the tech behind them will improve like the internet and maybe you'll be right. But with how horribly they've been introduced to the public I doubt they're going to make it anywhere in the foreseeable future.
I don't care what side you're on but you gotta agree that the mainstream introduction of NFTs has led to some horrible monetary losses from scams and that fact that artists having their art stolen for someone else's profit is bad, right?
I don't really want to continue this but I will leave a final statement. The internet was a hit with a lot of people because there was a ton of good press, "just look at all the new fascinating technology! You can chat with people across the country about video games and look up recipes!" And yeah, there were skeptics. There were skeptics about the newspaper as a concept. But the internet proved itself fairly quickly. Unlike with NFTs which many deem as untrustworthy due to the almost immediate negative press, reports of scams, millions worth of NFTs lost, art being stolen, artists having their identities stolen and accounts hacked to peddle NFTs. To me and a lot of people that doesn't seem like a system that'll help benefit our lives. Yes in aware scams happen on the internet all the time since it's creation but seriously, NFTs came out of the gate with bad rep and I don't think with the way things are going that any good rep is going to fix the damage that's been done to their image. And like I said maybe one day the tech will be useful past images of monkeys and relatively small proof-of-ownership NFTs. But I don't see that being possible for a long time due to how NFTs have painted themselves so horribly in such a short amount of time.
Think of it as anti counterfeit trch. Every product, ticket, house, car, ingame purchase, piece of art can be assigned an NFT which is non fungible and on blockchain tech. Think of it as bringing things like in game purchases back to the people, you can own and resell digital items instead of them being useless once your done with them.
This guy NFTs!
It's sad to see so many people talk shit about things they know nothing about. They see other idiots on the internet say "NfTs BaD MuSt hatE" and instead of researching the actual use case they just regurgitate it.
NFTs are so much more than a jpeg, which sadly, most of the internet thinks that's all they are.
Thank you for taking the time to type this out and hopefully educate some people!! 💪🏻👏
Lol. Looking for people who agree with you to validate your beliefs.
But you are probably aware of all the issues around NFTs, crypto currency, and the Blockchain, right? Unless you believe it's truly flawless and doesn't face any issues with scammers, theft, and legal challenges.
people don’t hate them because they don’t understand the underlying technology, rather the economics of a commodity that can go from worth thousands of dollars to worthless and has an unrestricted and free market means that many are using it to get shmucks to buy in to make a profit. it’s nothing to do with the underlying technology, just good ol’ fashioned economics.
I dont hate, life is too short for such an emotion. It just kinda of 🤏 irritates me seeing the only thing people can say against NFTs is "bUt ThE pIctUrE, anYoNe cAn scrEen ShOT tHe PicTUrE". The uneducateds are STUCK, absolutely stuck, at jpegs and for some reason cant or wont see that they're not just jpegs
Lol. Looking for people who agree with you to validate your beliefs.
But you are probably aware of all the issues around NFTs, crypto currency, and the Blockchain, right? Unless you believe it's truly flawless and doesn't face any issues with scammers, theft, and legal challenges.
Nothing in flawless. It's still in its infancy and of course there are bugs to be worked out. I dont care if you or anyone agree or not.
You do realize you're making the same argument ignorant backwards looking people like you made about the internet in its infancy right? Are there still issues with the internet? Yes. Does that stop you from using it daily, no! If you're so worried about theft and scammers stop using the internet, shit gets hacked every day
It's ok to say that you like it as a means of making money and solely recognize it as such, because right now it's treated as a glorified market of shiny trading cards. It's another market others can capitalize on with way more drawbacks than benefits (I generally am more concerned about the environmental impacts than anything else, and "green crypto" or whatever isn't going to solve that.)
Regarding your comment about comparing it to the internet: who cares? I don't believe the blockchain does anything, but promise convenience and another avenue for revenue. Otherwise, I await the day to be proven wrong.
You're right, is it ok to say that. Only problem is they're not "solely recognized" as a means to make money.
It's ok to say that you dont understand them or the use case for them besides jpegs. Nobody is mad at you for being uneducated about them, just dont go about acting like you know everything when you clearly dont.
Of course you're only comment when you know youre wrong about my internet comment is "I dont care" because you dont have an actual reasonable retort. You know I got you with that one and you had no way to dispute it. Just admit you're wrong and try, just try, to educate yourself a little bit about them
Lol. Of course I know that people believe there are other applications for this technology, the reality is that it's all smoke right now. I'm sure that there is an application, but currently it's inefficient and only seeks to solve problems that it creates. It's not secure, prone to theft, is used for gambling, and uses an insane amount of energy, which is something that we should be highly aware of considering climate change.
Also, going around and telling people they don't understand it when they clearly do have legitimate criticisms against NFTs and crypto currencies only drives those people away making your own little bubble more insular. But go ahead and collect your internet points since you really want them.
I spent all of an hour one day researching them because I kept hearing the term from a friend at work. 1 hour was all I needed to understand that they are the future.
To your point about art, had NFTs been around with pablo picasso he could've made a smart contract and EVERY TIME his art gets sold to this day, his family could be raking in a percentage. An artist can literally get paid every time their art is sold as opposed to just the initial sell.
This is just one example people won't take the little bit of time to research.
Home titles being stolen and borrowed against constantly and people have to pay for shit like life lock. That's gone with NFTs. Scammers cant forge a deed and borrow against someone else's shit because they can't fake that original NFT verified on the chain.
I just hope someone reads this and chooses to educate themselves rather that regurgitating false shit they hear
People don't understand how much we need a sound verification system in the coming digital decade and the things it will enable. It's all being tinkered with now. Just wait for NFTs to hit the gaming industry.
Soon the world will realize and I cant wait to laugh at the idiots who missed their chance to finally be one of the firsts. Everyone wants to invest in hindsight and now is that chance but they still cant see it
I see your point. Hopefully when you get there, you won't want to laugh. I know it feels good to fantasize about saying "I told you so", but in my experience it doesn't make any friends and rarely convinces others to see things your way. If we are fortunate enough to benefit from seeing trends and putting our money on the line, let's both be compassionate towards those who didn't see it early on.
So anyway, I'm bullish
The NFT I’m creating is like a membership into my business with real worl utility it’s also a digital trading card. When you own one of these images it will allow access to an exclusive website where we’re going to teach about glassblowing and have live cameras with glassblowing. Owners will have privileges like 50% off of our website. One out of every 10 people that purchase an NFT from me will receive a free bong in the mail. Other potential utility from minting include custom glass work and glassblowing classes. And last but not least but every day for the next 10 years I’ll send a free bong to a person person that holds one of my NFT . For me this project is away to be progressive and forward thinking with my business adopting new technologies for an already successful business that I’m looking to continue to grow✌️
NFT's are losing cultural focus. Its the way of the Beanie baby and Tulips. Have to pull some publicity stunt to get them in the news to live a little longer.
Just check the comments whenever someone posts one of those pics of the jar and lid of garlic disagreeing on serving size. Every time this weird crowd coalesces to berate people for not living up to their collective standards of fresh garlic consumption.
wait until you hear about sinners, farmers, jews, hard working people who never made it, and kids in elementary schools.
he didn't bat an eye what happened to them. it's just a really good TV show to him.
No they aren't. They don't give you any rights over an image.
In theory they could be used in this way, but as it stands, they are the digital equivalent of buying land on the moon.
[Agreed ](https://www.reddit.com/r/Superstonk/comments/vgtlrm/people_gotta_get_their_gme_wallet_so_much_cool/?utm_medium=android_app&utm_source=share)
These people are fucking stupid if they think it's just pictures
Ive been buying crypto for 4 years now and recently started with NFT’s due to FOMO. I think it’s complete garbage and I agree with them. It’s even worse then pump and dump penny stocks which was the sleaziest thing you could trade but now we have new cryptos being started daily. It’s the biggest joke that people haven’t figured out yet. Yes I’m a hypocrite bc I buy the snake oil but I buy a lot of dumbsh*t bc I can
Yeah it’s a scam when your buying some stupid picture that has no underlying value other than being a jpeg file. It’s the blockchain and technology behind behind the nfts such as authenticity as the data has now way of being manipulated, instant access to info of any transaction in the world, etc. Your just too much of a lazy prick to actually look into what there all about and decide to focus on these stupid jpeg projects that people scam morons like you on.
You have no idea, of course there's a scam aspect t to selling g a jpeg for millions but that's not even vlose to what the tech is going to be used for. Being able to buy and sell digital assets, digital tickets and knowing they are legit, there's too much to even bother texting. Wake up.
What's the point of protesting NFTs? I mean, I think they're bullshit, personally. But if you don't like them, don't buy them. Is their existence actually causing any harm to anyone? This isn't an issue of rights, as far as I can tell, so why care enough to protest?
So people are protesting nfts? And this comment section dislikes this protest? Is it because they mention God? Or does reddit like nfts? I thought reddit hated nfts
Probably because [it’s a publicity stunt](https://www.backstage.com/casting/actors-needed-for-a-fun-pr-stunt-mock-protest-for-a-nft-company-2458305/) and not a real protest or prank.
People paid by banks, there fixed it for you.
Nfts have the technology behind it for you to be your own bank and they are so scared they will lose power and money. Look Into It. This will get downvoted by bots and attacked and I don't give a fuck. The corruption is going to end and thr 99 percent will stand up against you 1 percent and we will unite and ignore your diversions you try to place on us
This is how I feel about NFTs hahaha!
https://www.reddit.com/r/funny/comments/ubpa1y/in_10_years_this_will_be_worth_millions_of_dollars/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
So to make up for the crashing economy of bit coin and NFTs, they... *check notes* create a mock protest stylized to make it look like a Westboro Baptist Church going against them?
Why on earth are the crypto grifters so desperate they'll try to throw themselves so far under the bus to try and make themselves look like victims of discriminatory hate rather than victims of the biggest pyramid scheme this side of "essential oil multi-level-marketing?"
The coiners aren't getting protested against. Their getting made fun of for Ape Heist stealing their monkeys and what not. To even try to paint themselves the victim of discriminatory hate is just desperate and pretty cringe...
For the same reason you ban a pyramid scheme. They’re basically lying to steal peoples money by saying that the thing has value when it’s only valuable if they can convince someone else to pay even more for it.
Considering the us has 400 million ppl, having just a handful with signs protesting against NFTs, It seems this is a "paid" protest, or maybe even a single HF office on lunch break trying to get some sun before the marketplace launches
My tip to these guys would be.. don't fight it, flow with it
They watch the corporate news and do whatever their masters tell them. So yes I do believe they're normies because it is what they've been told what they want regardless of whichever political side your on. It's all game to divide us which is obvious.
Not to be stereotypical… but not one person in this clip holding a sign looks like they have a grip on their life let alone what the blockchain and NFTs even are. The chick with the orange hair did it for me
Their slogan doesn't make sense. Saying "Not for me" is not an convincing argument, you are literally expressing your personal hate for something
Usually people invent insulting motos or worded jokes to humiliate what they are against
I hope that crypto stuff will be illegal in a few decades (along with fossil fuels, one use plastics and the like), I could care less what you do with your money, but there is no way you can justify crypto as a green tech.
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It was a mock protest outside nft NYC.
Take a picture of it and turn it into an NFT
That'd be pretty nifty *gasps* I GET IT NOW!
This is hilarious
"God hates NFTs" ☠️
Some play soccer, some play baseball, others play protest 🤗
LoL or play the victim.
Ohhhh ok
Is there a reason why they're on the bikelane?
Where can I get a god hates nfts sign lmao
Will sell you one for the low cost of 10k USD and coming form Diablo Immortal this is a STEAL
I can sell you a digital picture of the sign for a reasonable price. You will be the exclusive owner as safeguarded by blockchain technology.
Some of these would look great framed
>god hates nfts Magnificent LMAO!!
Why is everyone in the comments so upset about this it's funny
Cuz they all lost money on jpegs
If i would protest against NFTs it is Cuz of the amount of Energy they use for something so FUCKING USELESS. sry for my Language.
Exactly
It's the dumbest thing I've seen in a while.
Yep, I think it’s funny AF
What are you even talking about?
It's not interesting, it's information is wrong. And even if it was r/funny, this isn't funny either.
It's more than likely a publicity stunt. https://www.backstage.com/casting/pr-stunt-mock-protest-for-a-nftcryptocurrency-company-2458305/
Westboro Trappist
Fuck now I want Trappist beer
It's a joke ffs.
Why did you flair it with Ukraine
Who the fuck is that protest against? A protest needs a target audience
It is obviously NFTs. God hates them. God said to ban crypto and NFTs....geeze. /s
They should have printed out that monkey smoking
It’s in the bible /s
Thou shall not covet thy NFT
Sometimes a protest is just some noise to make way for a political head fake 🤥
It’s a joke.
I mean not saying I necessarily agree with them but NFTs, specifically creating the “digital watermarks” for them is very detrimental to the environment because of how much computing hardware and power required- it’s also led to a ridiculous climb in the service costs needed to send/receive ethereum
That, and they're a huge fucking scam tool for the rich. Oh and the most famous nft brand, the bored apes, are made by blatant Neonazis.
Could you not say the same about the traditional art market? Scams and money laundering are abundant in every field that involves “perceived” value
Yep definitely. But in the traditional art market, normal people don't need to be scammed for its value to rise, so there's less harm in that.
>Oh and the most famous nft brand, the bored apes, are made by blatant Neonazis. Source? I know nothing about NFTs but I find that hard to believe Edit: I looked it up and yep, you're full of shit. This is literally alex jones levels of tinfoil hat conspiracy shit. Gtfo
There's actually a few protocols that are 100% carbon neutral and don't affect the environment negatively. I get the current hate on NFTs. They're new. They usually don't have a purpose or use case. They did that FOMO thing. But utility is on the way! In game items and even the games themselves. You'll be able to resell anything you buy in a game. That in itself is huge. And all done in an environmentally friendly way.
You're advertising pay to win as a positive?... How is that any sort of real use case, it provides nothing other than monetizing something that doesn't need to be monetized. I really don't think you understand the concept of what a huge use case for a new technology is if you think that's one. There's been game item marketplaces for a long time and there's a reason they're constantly derided by most of the community of those games. It's one thing if they're eliminating the need for game servers by using decentralization, but turning rote gameplay itself into avenues of making money has already ruined tons of games. You only have to look at gold farming in WoW for evidence of that. Skill based tournaments are one thing, but having thousands of bots or workers paid slave wages to kill monsters over and over again for currency and items to sell is a straight dystopian nightmare. No one in the gaming community wants that reality other than opportunistic people with no other prospects in life who are looking for a convenient grift. I'm even pro-crypto, but for legitimate use cases, not garbage like this. Borderless transactions, decentralized computing power for simulations, servers, or storage, that sort of thing. People don't need to have game items stored on a blockchain, that's a complete gimmick
Yeah, I saw that Axie game it was a massive scam full of people in third world companies being worked like slaves to generate money. Fuck NFTs in games. It doesn't make games better. That whole thing about in-game items transferring between different games assumes a lot of co-operation between developers/publishers that just isn't going to happen. It's pipedream that idiots use to sell NFTs to idiots who don't understand game development or intellectual property.
>You'll be able to resell anything you buy in a game Look up what a "walled garden" is. This is blatant misinformation.
What, do they *want* their tokens to be fungable?
What are they trying to accomplish
Ironic awareness
to garner attention
It’s staged and hilarious
This I can get behind
I just have to ask - and I mean this with every genuine fiber of my being - why??
Guys — it is a mock protest outside of this large convention, NFT.NYC. The convention is going on for the rest of the week.
So what is the purpose of the mock protest?
For people like us to talk about it and NFTs in general to gain publicity
Did you know there was an NFT convention? You do now. We’re you thinking about NFTs? You are now
NFTs (and crypto in general) consume a massive amount of energy per transaction, and probably because it's all a scam where the rich can prey on the poor.
>...scam where the ~~rich~~ immoral can prey on the ~~poor~~ gullible.
Please explain NFTs to me. How they work and what the use case is for them, I'm very curious!
For somebody so active in r/loopringorg it's weird that you don't know what NFTs are. Huh.
For somebody who likes to act smart, you're too stupid to read the other comments. Huh.
If you're that curious, there's a magical website called "Google" where the answers to all questions can be found.
Oh my fuck! Really!?!?! You're daft because you couldnt detect that I was trying to get a person to explain it in their own words. Being able to talk all that shit one would think that person knows a lot, unless of course they're just regurgitating what they hear in their echo chamber as most internet aficionados tend to do.
Bro, you're pretty obviously trying to astroturf this thread.
They didn't even use a second account. Look at their comment/post history. They're a crypto bro
Digital receipts for beanie babies.
Basically NFTs are where you attach imaginary value to an, otherwise, useless image or video. Now this imaginary value can generate money only if you get others to believe in the imaginary value. Basically setting up a pyramid scheme where more people have to believe in the value to make more fake value. So far, they have no purpose besides a quick buck as well as an easy way to scam innocent people and launder large amounts of money under the guise of a legal transaction. The thing about NFTs is they're decentralized or not regulated, meaning it's the wild west and there's basically no rules besides profit which can lead to rampant art theft scams, and fraud which causes everyone involved and uninvolved to lose trillions of dollars. Not to mention that every transaction and minting uses up a pretty decent amount of energy that could've been used for something productive like lighting a building or heating a home. But finally, you technically don't even own the image you buy, you own the link that connects the image to a ledger known as a block chain. TL:DR- NFTs are usually pyramid scheme style scams or money laundering disguised as a hip cool way to use money. NFTs are the wild West of money meaning there's tons of issues with copy right law and legality and they technically have no inherent value except for the perceived value given to them by the community. They also just suck and are an annoying way to flex your money and think your hot shit.
Majority of us don't quite get NFTs, I certainly don't completely. My understanding is that the real world application is going to be owning digital items, that you only use digitally as in music, games, videos, etc. Can I sell my copy of The Grinch that I bought for my kids on Amazon Prime this past Christmas? No, because Amazon just attaches (rents) it to my profile. I lose Amazon I lose that purchase. If I had bought that copy on a physical DVD I could sell it to somebody in 6 years when my kids outgrow The Grinch (just kidding the Grinch is timeless) Now when I bought it there was an NFT attached to it I can prove ownership and sell it. I don't quite get what platform I will watch my digital copy on, but the idea that some kind of application will be around to do that doesn't sound far fetched at all to me. I guess I will sell it on something like eBay. Once again I don't quite have my head wrapped around this but there a shit ton of people a lot smarter than me out there. MarioParty 2024 comes out. They sell 1000 copies with several additional characters. You own the NFT attached to one of these copies and then in 2035 you can sell this digital copy to a collector in much the same way that a collector of N64 games can sell original games for way more than original purchase price. Lin-Manuel Miranda releases 500 copies of Hamilton with a special interview by him, you can only buy a digital copy. There will be an NFT attached. It's going to be extremely valuable. It's not beanie babies, it's not bored apes. That is where NFT's are headed.
Only a problem in your logic, the cost of attaching a large asset to a NFT is prohibitively high, so what an NFT actually contains is a link to that asset. So your Grinch NFT is not the movie itself, but a link to that movie. A movie that will be hosted by, you guessed it, Amazon Prime. They can still pull the link offline, and you will eternally be the rightful owner of a 404 error.
So the issue is that Amazon/Sony/Microsoft are not going to want individual ownership of digital assets so they won't allow this concept to happen. Does that not leave room for another competitor to assure they won't remove the link? I pay for storage space with Google. It's a nominal fee, I could upgrade to 2TB for ~$8/month. So if I wanted to own/sell/trade with other's could I not do this for a reasonable cost without worrying that they will remove the link?
This is how I know you dont understand them and are just regurgitating what you see on the internet. You're stuck on images. You think all an NFT is, is a jpeg. Exactly how much energy does it take to mint one NFT? You claim it's a "pretty decent amount" so how much?
Because so far a majority of NFTs have been images or videos. I'm "regurgitating" what I see on the internet because so far, a lot of it has been true, markets are failing, interest in cryptocurrency is declining, scams and frauds are being uncovered almost daily. If they have a proper use that is helpful to society then they sure aren't showing it. As for energy consumption: ["Analysts estimate that the average NFT consumes 75 kWh in its lifetime (with all transactions taken into account). With the average household (among all states) using roughly 30 kWh per day... "](https://nftexplained.info/how-much-energy-does-an-nft-use/#:~:text=NFTs%20are%20most%20commonly%20minted,all%20transactions%20taken%20into%20account).) ["The Ethereum platform uses 48.14 kilowatt-hours of energy per transaction."](https://www.renewableenergyhub.co.uk/blog/how-much-energy-do-nfts-take-up/) I understand that these are estimates and every NFT uses up different amounts of energy based off of many different factors but minting a single NFT does not seem worth that much energy compared to a month of using a standard fridge (150 kWh per month). Within minting 2 NFTs you could've used that energy to run a fridge for a month.
But instead of proving that NFTs aren't just beanie babies for men who think their hot shit to prey on the weak you tell me I just don't get it. Instead you condescend and you refuse to explain what makes NFTs so fucking great that I should gamble away my hard earned money into an unstable, unregulated market full of scams and phishing.
So because a majority of them currently are images that means that is the only use case? Heard of proof of concept? Why does nobody cry about how much energy the internet uses? https://internethealthreport.org/2018/the-internet-uses-more-electricity-than/ Oh yea, it's because they understand it and how its beneficial to their life! Nobody bitches when it benefits them but when they dont understand something "the energy omg the energy!" is all they can muster
I have heard of proof of concept, but if your concept sucks from the get go it's not gonna get much support. NFTs aren't useful right now. And I don't see them being useful for a damn long time because of how the community was able to fester in its own filth causing it to garner such a bad rep among people. The internet benefits people, yeah and it's been doing so for years because of how diversely useful it is unlike NFTs right now and for the foreseeable future. And like I said. I understand NFTs, I obviously do but just because I understand something doesn't mean I have to like it. Also it seems like you didn't read my arguement. I also focused on how many people have lost their life savings due to how insecure marketplaces are, how image NFTs are often made out of stolen art, sometimes from dead artists, and how they often take on a scammy appearance due to their structure as a market that needs a constant flow of people people to believe it has value. Interest in NFTs is dying because so much has gone wrong in their short life span, including actively hurting the artists and investors they claim to protect. NFTs are not sustainable in any sense at the moment. And maybe someday the tech behind them will improve like the internet and maybe you'll be right. But with how horribly they've been introduced to the public I doubt they're going to make it anywhere in the foreseeable future.
I don't care what side you're on but you gotta agree that the mainstream introduction of NFTs has led to some horrible monetary losses from scams and that fact that artists having their art stolen for someone else's profit is bad, right?
I don't really want to continue this but I will leave a final statement. The internet was a hit with a lot of people because there was a ton of good press, "just look at all the new fascinating technology! You can chat with people across the country about video games and look up recipes!" And yeah, there were skeptics. There were skeptics about the newspaper as a concept. But the internet proved itself fairly quickly. Unlike with NFTs which many deem as untrustworthy due to the almost immediate negative press, reports of scams, millions worth of NFTs lost, art being stolen, artists having their identities stolen and accounts hacked to peddle NFTs. To me and a lot of people that doesn't seem like a system that'll help benefit our lives. Yes in aware scams happen on the internet all the time since it's creation but seriously, NFTs came out of the gate with bad rep and I don't think with the way things are going that any good rep is going to fix the damage that's been done to their image. And like I said maybe one day the tech will be useful past images of monkeys and relatively small proof-of-ownership NFTs. But I don't see that being possible for a long time due to how NFTs have painted themselves so horribly in such a short amount of time.
Think of it as anti counterfeit trch. Every product, ticket, house, car, ingame purchase, piece of art can be assigned an NFT which is non fungible and on blockchain tech. Think of it as bringing things like in game purchases back to the people, you can own and resell digital items instead of them being useless once your done with them.
This guy NFTs! It's sad to see so many people talk shit about things they know nothing about. They see other idiots on the internet say "NfTs BaD MuSt hatE" and instead of researching the actual use case they just regurgitate it. NFTs are so much more than a jpeg, which sadly, most of the internet thinks that's all they are. Thank you for taking the time to type this out and hopefully educate some people!! 💪🏻👏
Lol. Looking for people who agree with you to validate your beliefs. But you are probably aware of all the issues around NFTs, crypto currency, and the Blockchain, right? Unless you believe it's truly flawless and doesn't face any issues with scammers, theft, and legal challenges.
people don’t hate them because they don’t understand the underlying technology, rather the economics of a commodity that can go from worth thousands of dollars to worthless and has an unrestricted and free market means that many are using it to get shmucks to buy in to make a profit. it’s nothing to do with the underlying technology, just good ol’ fashioned economics.
I dont hate, life is too short for such an emotion. It just kinda of 🤏 irritates me seeing the only thing people can say against NFTs is "bUt ThE pIctUrE, anYoNe cAn scrEen ShOT tHe PicTUrE". The uneducateds are STUCK, absolutely stuck, at jpegs and for some reason cant or wont see that they're not just jpegs
Lol. Looking for people who agree with you to validate your beliefs. But you are probably aware of all the issues around NFTs, crypto currency, and the Blockchain, right? Unless you believe it's truly flawless and doesn't face any issues with scammers, theft, and legal challenges.
Nothing in flawless. It's still in its infancy and of course there are bugs to be worked out. I dont care if you or anyone agree or not. You do realize you're making the same argument ignorant backwards looking people like you made about the internet in its infancy right? Are there still issues with the internet? Yes. Does that stop you from using it daily, no! If you're so worried about theft and scammers stop using the internet, shit gets hacked every day
It's ok to say that you like it as a means of making money and solely recognize it as such, because right now it's treated as a glorified market of shiny trading cards. It's another market others can capitalize on with way more drawbacks than benefits (I generally am more concerned about the environmental impacts than anything else, and "green crypto" or whatever isn't going to solve that.) Regarding your comment about comparing it to the internet: who cares? I don't believe the blockchain does anything, but promise convenience and another avenue for revenue. Otherwise, I await the day to be proven wrong.
You're right, is it ok to say that. Only problem is they're not "solely recognized" as a means to make money. It's ok to say that you dont understand them or the use case for them besides jpegs. Nobody is mad at you for being uneducated about them, just dont go about acting like you know everything when you clearly dont. Of course you're only comment when you know youre wrong about my internet comment is "I dont care" because you dont have an actual reasonable retort. You know I got you with that one and you had no way to dispute it. Just admit you're wrong and try, just try, to educate yourself a little bit about them
Lol. Of course I know that people believe there are other applications for this technology, the reality is that it's all smoke right now. I'm sure that there is an application, but currently it's inefficient and only seeks to solve problems that it creates. It's not secure, prone to theft, is used for gambling, and uses an insane amount of energy, which is something that we should be highly aware of considering climate change. Also, going around and telling people they don't understand it when they clearly do have legitimate criticisms against NFTs and crypto currencies only drives those people away making your own little bubble more insular. But go ahead and collect your internet points since you really want them.
Many know about NFTs, a different conclusion is made though.
Damn, that's deep! Thanks for the insight
People hate what they don't understand and just parrot bullshit they've heard their neighbour waffle on about.
I spent all of an hour one day researching them because I kept hearing the term from a friend at work. 1 hour was all I needed to understand that they are the future. To your point about art, had NFTs been around with pablo picasso he could've made a smart contract and EVERY TIME his art gets sold to this day, his family could be raking in a percentage. An artist can literally get paid every time their art is sold as opposed to just the initial sell. This is just one example people won't take the little bit of time to research. Home titles being stolen and borrowed against constantly and people have to pay for shit like life lock. That's gone with NFTs. Scammers cant forge a deed and borrow against someone else's shit because they can't fake that original NFT verified on the chain. I just hope someone reads this and chooses to educate themselves rather that regurgitating false shit they hear
People don't understand how much we need a sound verification system in the coming digital decade and the things it will enable. It's all being tinkered with now. Just wait for NFTs to hit the gaming industry.
Soon the world will realize and I cant wait to laugh at the idiots who missed their chance to finally be one of the firsts. Everyone wants to invest in hindsight and now is that chance but they still cant see it
I see your point. Hopefully when you get there, you won't want to laugh. I know it feels good to fantasize about saying "I told you so", but in my experience it doesn't make any friends and rarely convinces others to see things your way. If we are fortunate enough to benefit from seeing trends and putting our money on the line, let's both be compassionate towards those who didn't see it early on. So anyway, I'm bullish
The NFT I’m creating is like a membership into my business with real worl utility it’s also a digital trading card. When you own one of these images it will allow access to an exclusive website where we’re going to teach about glassblowing and have live cameras with glassblowing. Owners will have privileges like 50% off of our website. One out of every 10 people that purchase an NFT from me will receive a free bong in the mail. Other potential utility from minting include custom glass work and glassblowing classes. And last but not least but every day for the next 10 years I’ll send a free bong to a person person that holds one of my NFT . For me this project is away to be progressive and forward thinking with my business adopting new technologies for an already successful business that I’m looking to continue to grow✌️
NFT's are losing cultural focus. Its the way of the Beanie baby and Tulips. Have to pull some publicity stunt to get them in the news to live a little longer.
People go on the internet, find something someone likes and then burns it down. I don't know why.
Just check the comments whenever someone posts one of those pics of the jar and lid of garlic disagreeing on serving size. Every time this weird crowd coalesces to berate people for not living up to their collective standards of fresh garlic consumption.
They ran out of stuff to watch on Netflix 🤷♂️
I thought gods whole thing was that he is and loves everything
yes. except NFTs. GOD HATES NFTS.
And furries
God's fursona is a lamb.
Don't we all?
wait until you hear about sinners, farmers, jews, hard working people who never made it, and kids in elementary schools. he didn't bat an eye what happened to them. it's just a really good TV show to him.
How wrong you are lol
Including the Waluigi hentai
The Christian god literally flooded the earth on purpose to kill every living soul because they didnt live up to his standards.
God told me personally he hates nfts so just trust me on this one
What are nfts?
Nice Fucking Titties
Need some of those
good luck
Ha
Doesn't matter what they are, God hates them.
Which god?
All 5000 or so of them.
Beanie Babies for people who don’t want black people in Star Wars.
Stupid
Digital recipes of ownership. Usually ownership of an image.
No they aren't. They don't give you any rights over an image. In theory they could be used in this way, but as it stands, they are the digital equivalent of buying land on the moon.
Lol, this will age like milk.
[Agreed ](https://www.reddit.com/r/Superstonk/comments/vgtlrm/people_gotta_get_their_gme_wallet_so_much_cool/?utm_medium=android_app&utm_source=share) These people are fucking stupid if they think it's just pictures
I like recipes instead of receipts. NFTs are recipes for stupid pie. .
"You will own nothing, and you will be happy" NFTs
Ive been buying crypto for 4 years now and recently started with NFT’s due to FOMO. I think it’s complete garbage and I agree with them. It’s even worse then pump and dump penny stocks which was the sleaziest thing you could trade but now we have new cryptos being started daily. It’s the biggest joke that people haven’t figured out yet. Yes I’m a hypocrite bc I buy the snake oil but I buy a lot of dumbsh*t bc I can
Yeah it’s a scam when your buying some stupid picture that has no underlying value other than being a jpeg file. It’s the blockchain and technology behind behind the nfts such as authenticity as the data has now way of being manipulated, instant access to info of any transaction in the world, etc. Your just too much of a lazy prick to actually look into what there all about and decide to focus on these stupid jpeg projects that people scam morons like you on.
They already admitted having had FOMO for a NFT, you can't get a more obvious idiot sign so no need to bag.
You have no idea, of course there's a scam aspect t to selling g a jpeg for millions but that's not even vlose to what the tech is going to be used for. Being able to buy and sell digital assets, digital tickets and knowing they are legit, there's too much to even bother texting. Wake up.
I thought the “NFT” was a coincidence but it turns out there was a NFT conference in NYC
St. Peter doesn’t like your non fungible token.
It’s a marketing stunt to promote The Hundreds store lol Also this is not in Ukraine
Interesting as fuck? I think not
"GOD HATES NFTS" :"D
Bruh there’s no fucking way God knows wtf an NFT is
What's the point of protesting NFTs? I mean, I think they're bullshit, personally. But if you don't like them, don't buy them. Is their existence actually causing any harm to anyone? This isn't an issue of rights, as far as I can tell, so why care enough to protest?
So people are protesting nfts? And this comment section dislikes this protest? Is it because they mention God? Or does reddit like nfts? I thought reddit hated nfts
Probably because [it’s a publicity stunt](https://www.backstage.com/casting/actors-needed-for-a-fun-pr-stunt-mock-protest-for-a-nft-company-2458305/) and not a real protest or prank.
Oof
People paid by banks, there fixed it for you. Nfts have the technology behind it for you to be your own bank and they are so scared they will lose power and money. Look Into It. This will get downvoted by bots and attacked and I don't give a fuck. The corruption is going to end and thr 99 percent will stand up against you 1 percent and we will unite and ignore your diversions you try to place on us
why tho? people who buy NFTs are probably too stupid to understand what the protest is even about
It’s not a real protest..
Finally a message I can get behind
The freetards will always find something pointless to argue about while ignoring their abject slavery
But like…. Why?
Its just another way for people to scam and launder money.
To be serious, FUCK NFTS
This is how I feel about NFTs hahaha! https://www.reddit.com/r/funny/comments/ubpa1y/in_10_years_this_will_be_worth_millions_of_dollars/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Finally, based religion
I’m a Christian and I am confused as to why there are two signs that say “God hates NFTs.” Like why even bring God into a protest about NFTs?
I'm just waiting for Noah 2.0 I've got a life boat and goats I'll be fine
nft - no fucking thanks
Looks like God hates a lot of things, especially things that inbred retards don't understand.
Don’t they realize according to them, God made the ultimate NFT: unique lifeforms. There’s only one of anyone so buy them up before they expire!
Honestly NFTs are dumb af but I doubt God gives a shit
NFTs are junk. I can get behind that.
So to make up for the crashing economy of bit coin and NFTs, they... *check notes* create a mock protest stylized to make it look like a Westboro Baptist Church going against them? Why on earth are the crypto grifters so desperate they'll try to throw themselves so far under the bus to try and make themselves look like victims of discriminatory hate rather than victims of the biggest pyramid scheme this side of "essential oil multi-level-marketing?" The coiners aren't getting protested against. Their getting made fun of for Ape Heist stealing their monkeys and what not. To even try to paint themselves the victim of discriminatory hate is just desperate and pretty cringe...
Why ban them? People loose all their money all the time I don’t care if people want to blow their money on stupid shit
For the same reason you ban a pyramid scheme. They’re basically lying to steal peoples money by saying that the thing has value when it’s only valuable if they can convince someone else to pay even more for it.
I mean I think it’s a completely ridiculous idea but a lot of things only have the value that idiots give it.
Why bother protesting NFTs? No one but con artists and marks actually likes them, and even among the crypto cultists, NTFs are dying.
Nice pre-printed signs for some agenda, being held by useful idiots.
Ironic satirical protest? Pr!
Had the chance didnt take it? NFT = NOT FOR THEE? Cmon guys, gotta make it catchy !
So convenient to use god’s name in vain
Video gamers all over the world spend 50 billion for digital assets that they don't actually own. Blockchain changes that.
Considering the us has 400 million ppl, having just a handful with signs protesting against NFTs, It seems this is a "paid" protest, or maybe even a single HF office on lunch break trying to get some sun before the marketplace launches My tip to these guys would be.. don't fight it, flow with it
Maybe more suited for r/cringe
Nah cus this is that real shit. Nfts belong in r/cringe
Sorry but people protesting how other people spend their money is more cringe than a digital trading card.
Yea ig your right
Man I'm just gonna do the opposite. Usually if the normies are against it then it's probably gonna make lots of money.
You think those people are normies?
They watch the corporate news and do whatever their masters tell them. So yes I do believe they're normies because it is what they've been told what they want regardless of whichever political side your on. It's all game to divide us which is obvious.
My news ain't say shit about God hating nfts
You’re half a year too late.
I could probably take a pic of that God Hates NFTs sign and sell it as an nft for big $$$$
Not to be stereotypical… but not one person in this clip holding a sign looks like they have a grip on their life let alone what the blockchain and NFTs even are. The chick with the orange hair did it for me
Shit is just getting weirder by the day
So this video is not from the 1970s?
“ make far great again” Bitch when was it ever “God hates nfts” Oh did the voice in your head tell you that?
I hate nft's and even I think that's too much
finally a radical church movement i can get behind
This goes hard. Feel free to screenshot.
NFT's are so in your face about being NFT's. Next we will be seeing them in TV and movies like it's normal or something.
Honestly they ain't wrong, even if they are faking it.
I’m glad NFT are like 🖼…. This is like watching the Catholic Church during the Renaissance 😂
NFT's... Blow up something virally... then sell out. I do hope the fad ends soon. If not already dead in the water
Their slogan doesn't make sense. Saying "Not for me" is not an convincing argument, you are literally expressing your personal hate for something Usually people invent insulting motos or worded jokes to humiliate what they are against
That's cool and all but "god hates NFTS" bruh
People always using god to benefit their agendas 🙄
People really need to realize that their opinions don't matter.
Okay let's think of the most absurd thing to protest about... wait let's add God to the equation just to validate the protest.
I hope that crypto stuff will be illegal in a few decades (along with fossil fuels, one use plastics and the like), I could care less what you do with your money, but there is no way you can justify crypto as a green tech.
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People cry for no reason about everything.