Why NFT's are bullshit
- Thread starter LootBox
- Start date
Repulsor
Senior Member
- Jun 11, 2013
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When the so called metaverse becomes mainstream, and social media becomes a place where we all have a virtual house and video calls become people coming into the metaverse house, people would rush to hang their premium NFTs on their walls.
This willl happen sooner or later.
This willl happen sooner or later.
You should read the information being discussed before commenting
JavascriptPufferfish
Supreme Member
- Sep 13, 2019
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that really doesnt prove anything. you bring your favorite millionaire to say something, i can get 3 richer ones that say something different. Sam Alameda has bouched for NFTs before and owns lots; you telling me this moxie guy knows more about crypto than Sam motherfucking Alameda? taking the opinion of this 1 guy as the absolute proof that NFTs are bullshit is the internet equivalent of my dad can beat your dad.
(whatever Sam and similar guys are being honest when praising NFTs is a totally different topic of course)
I bring the guy who created the security (with his own 2 hands) used by Signal, Facebook, Google, WhatsApp.
He is one of the most experienced cryptographers in the world - money has nothing to do with it.
Yes lol, Moxie knows more about crypto than Sam motherfucking Alameda.
JavascriptPufferfish
Supreme Member
- Sep 13, 2019
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cool, i bring the founder and CEO of FTX, founder of Alameda research, one of the most savage traders, and one of the guys that meme'd solana into a top ten crypto. my rich nerd can beat the shit out of your rich nerd any day of the week. you see what i mean? no matter how educated your techie billionaire is, there is another equally (much more in this case) educated billionaire that says the contrary.
Ashk881
Elite Member
- Aug 24, 2021
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Beat him in what? Creating cryptographic systems? Lol no
One dude literally made the security systems that either directly powers or has inspired new cryptographic protocols that goes into chat applications. Ever used WhatsApp? Their end-to-end encryption protocol is based off of the work of this dude. Used Signal? You are directly using the technology he made.
The latter made a platform that facilitates buying and selling of cryptocurrency. No surprise cryptobros are gonna back him.
oh, and btw, the title for this thread is misleading. That article doesn't talk about nfts being bullshit (which I agree with, they are overhyoed and overpriced art-pieces without the reliability of an actual art-piece as in you can lose it anytime) , it talks about web3 and Its problems.
JavascriptPufferfish
Supreme Member
- Sep 13, 2019
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in a fistfight obviously. for a more serious answer, each one of them excels at something. moxie at security tech and encryption, sam at trading, reading the crypto market, and just being very well informed. you usually buy NFTs as an investment, with hopes of them being worth more. that's Sam's sphere of knowledge, not moxie's. hence, Sam's opinion on NFTs gets more weight on this particular matter.
didn't bother reading it, took the title at face value. if i had to read every naysayer i come across i would spend my day reading opinions i don't agree with. would be the same as a vaxxer spending the day reading anti-vaxxer's opinions, or the contrary. that makes it sound much more reasonable and interesting, i may give it a read tomorrow.
cant believe you went there. i will just cry myself to sleep.
I see why you're in the NFT market
When you actually read the content that the discussion is based around, you can participate in the discussion, otherwise you're just spamming.
coinmarketwizard
Newbie
- Nov 29, 2021
- 11
- 4
I believe NFTs are bullshit as well. But what I think or what Moxie thinks or what Sam motherfucking Alameda thinks doesn't matter. Only thing that matters is the public opinion. If their opinion is positive towards anything, it thrives. if it isn't, it doesn't.
So that being said, even though I care very little about NFT's, I will invest every single penny I have in any of them that has potential.
Potential = the crowd's response in monetary terms.
So that being said, even though I care very little about NFT's, I will invest every single penny I have in any of them that has potential.
Potential = the crowd's response in monetary terms.
The thing is that what Moxie posted isnt an opinion.
It's a technical analysis of how NFT works in the current market.
In the current market your 250,000$ ape can be replaced with a middle finger and there is nothing you can do about it.
It's a technical analysis of how NFT works in the current market.
In the current market your 250,000$ ape can be replaced with a middle finger and there is nothing you can do about it.
shinycakes
Registered Member
- Dec 12, 2021
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randomstrings
Supreme Member
- Feb 3, 2021
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Earlier it was called VR, then augmented reality came now nft and this non sense goes on.
LemonAcid
Senior Member
- Jun 22, 2014
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JavascriptPufferfish
Supreme Member
- Sep 13, 2019
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you got me, my bad for taking your title at face value.I see why you're in the NFT market
When you actually read the content that the discussion is based around, you can participate in the discussion, otherwise you're just spamming.
for the record, i am not really on the NFT market. minted one once (aurory on solana) at 1 sol, sold at 23sol, and never again. i made it a little too late. from solana degen apes to aurory, NFTs were free money. you may like them more or less, but they were free money anyway. after that, it kinda got saturated with shitty projects, and became a game that required more experience, skill, and risk tolerance, and i just wasn't up to it at the time. gotta know when the game is just not for you. my point wasn't defending NFTs, but there is probably no point repeating what my point actually was again.
coolsheet
Senior Member
- Mar 28, 2014
- 1,179
- 1,179
Coffeezilla is such a bottom feeder. Can't stand this dude. "NFTs are pictures". Man lol and FOH. I'll give him credit for a lot of his stuff, but there's a lot of stuff I disagree with that comes out of his face. Funny how he bashes "life coaches" whilst all he does is scrutinize the "life coaches" and ways to make money online, as a way for him to make money. I would love to punch this dude honestly. He's the little snitch in class in grade school no one liked.
Rounak1872
Regular Member
- Sep 26, 2020
- 248
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what i could'nt understand from several days, after reading 100 articles, i understood the concept of nfts from this single image. thanks mate
Monzani
BANNED
- Jun 3, 2019
- 1,509
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Literally I don't care if it's bullshit or not
What matters is that there is money on the table about it
A lot of money
If people start creating a big market about selling their own shit and it is affordable and promising, I don't care either, it could be a good way to make money
I see it as a club of rich people who decided to trade their collection of bottle caps...some are rarer than others and they try to make money on the relevance of these assets. Or simply creating speculation and reselling until it loses space and the last owner takes the loss of having a JPEG with no real or speculative value.
What matters is that there is money on the table about it
A lot of money
If people start creating a big market about selling their own shit and it is affordable and promising, I don't care either, it could be a good way to make money
I see it as a club of rich people who decided to trade their collection of bottle caps...some are rarer than others and they try to make money on the relevance of these assets. Or simply creating speculation and reselling until it loses space and the last owner takes the loss of having a JPEG with no real or speculative value.
Deleted Member 112605
Banned - Abuse of Staff
- May 9, 2010
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Great article. I liked it. I'm always in the mood for some Web 3 bashing.
"The people at the end of the line who are flipping NFTs do not fundamentally care about distributed trust models or payment mechanics, but they care about where the money is. So the money draws people into OpenSea, they improve the experience by building a platform that iterates on the underlying web3 protocols in web2 space, they eventually offer the ability to “mint” NFTs through OpenSea itself instead of through your own smart contract, and eventually this all opens the door for Coinbase to offer access to the validated NFT market with their own platform via your debit card. That opens the door to Coinbase managing the tokens themselves through dark pools that Coinbase holds, which helpfully eliminates the transaction fees and makes it possible to avoid having to interact with smart contracts at all. Eventually, all the web3 parts are gone, and you have a website for buying and selling JPEGS with your debit card. The project can’t start as a web2 platform because of the market dynamics, but the same market dynamics and the fundamental forces of centralization will likely drive it to end up there."
"The people at the end of the line who are flipping NFTs do not fundamentally care about distributed trust models or payment mechanics, but they care about where the money is. So the money draws people into OpenSea, they improve the experience by building a platform that iterates on the underlying web3 protocols in web2 space, they eventually offer the ability to “mint” NFTs through OpenSea itself instead of through your own smart contract, and eventually this all opens the door for Coinbase to offer access to the validated NFT market with their own platform via your debit card. That opens the door to Coinbase managing the tokens themselves through dark pools that Coinbase holds, which helpfully eliminates the transaction fees and makes it possible to avoid having to interact with smart contracts at all. Eventually, all the web3 parts are gone, and you have a website for buying and selling JPEGS with your debit card. The project can’t start as a web2 platform because of the market dynamics, but the same market dynamics and the fundamental forces of centralization will likely drive it to end up there."