Why NFT's are bullshit

IGKing said:
Clubhouse was literally evaluated at billions of dollars at this time last year. What's it worth today?

Same with Nikola. Pretty sure about a year ago it was worth 8x more than it is now.

What about Enron? Theranos?

Did the people who criticize those companies "really need to work on their ego"?

I don't like fraud. There's a lot of fraud in this space and it's a recipe for disaster.

P.S: I called out Clubhouse for being a completely stupid idea in early 2021. I was right, despite many of the most successful CEOs endorsing it. :)

Thank you for telling me to work on my ego, though. I definitely will.
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So every new technology that comes out is bound to fail just because other projects did? Brilliant logic. :p
 
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IGKing said:
No, I clearly stated this is due to the massive fraud involved. Brilliant reading.
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Mind explaining how NFTs involve "massive fraud"?
All I see here is an angry dude calling things fraudulent for no reason at all. No wonder you're the same guy who wanted BlackHatWorld to implement a KYC system.
 
It's generally boomers / older guys that don't understand or see the use in crypto & NFTs in particular, the possibilities are crazy. Older people tend to be very anti-change, exactly the same thing happened to the internet and exactly the same thing happened with smartphones and exactly the same thing is happening with Crypto.

The fact that Crypto alone allows for wealth distribution around the world be it through crypto itself or NFTs is already an amazing feat since for some countries making 1000$ for an NFT means a year worth of rent.

Let alone the actual use cases that some NFTs have (which in my opinion, for gaming will be its best and most promising use-case).

Regardless of how much people bitch about NFTs and Crypto I'll bet you they either already have Crypto & or NFTs themselves so they can make some money or they often are triggered about having missed the train.

Is the crypto community obnoxious? Yes, as a trader myself I find the community extremely irritating, especially the whole "MOON MOON 100K BTC" shit when clearly it's not happening anytime soon. Will it happen? Guaranteed it will, but not in any timeframe that can be described with the word "soon".

Just like previous technology, no matter how much you hate it, once it reaches the media & the "common people" it's the beginning of the end for your hate campaign, superior technology will ALWAYS thrive in the end, that's just how things work and throughout the history of mankind we have millions of examples of how society evolved over time, this is just another step of the way.

PS: I don't think Crypto will be the main currency anytime soon, but in 20-30 years, I do think it'll be used by a large % of the population even your average dude on the street.

PS2: Metaverse will thrive 0 doubts about it.
 
Account Hawk said:
Mind explaining how NFTs involve "massive fraud"?
All I see here is an angry dude calling things fraudulent for no reason at all. No wonder you're the same guy who wanted BlackHatWorld to implement a KYC system.
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Nah, I’m good. I’ve made many posts on this exact topic already. If you’ve obsessed over me enough to go through my forum suggestions posts, I’m sure you’ll find the other posts I have regarding my thoughts towards NFTs.

Have a wonderful day bro. :)
 
NFT in some applications will be good, but not in the sale of pictures of 100500 identical monkeys :)
 
You got JPEG holders feeling in danger because of some blog post, getting aggressive.
And you then got people laughing at them.

Great thread.
 
Lol in the first place there is no success investor from 100% copy paste and follow wahtever this expert and billionaire say.
you can research what they say as material for your own research, but every investing decision should be backed by your own decision and research. not case mr a say it or mr b tell me this.
 
Account Hawk said:
Mind explaining how NFTs involve "massive fraud"?
All I see here is an angry dude calling things fraudulent for no reason at all. No wonder you're the same guy who wanted BlackHatWorld to implement a KYC system.
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To be honest, I don’t understand at all why look at NFT technology as pictures or art.

Why not think of NFT as a law technology?

In answer to your question, I can advise you to read an article by one of the most important personalities in the Anglo-Sanxon legal field and crypto professor Tonya Evans.
She acted in the case OpenSea
 
I can see where a lot of the criticism is coming from.

Because NFT values are very easy to inflate.

Take the case of the same person using different Ethereum accounts.

It may look like two different people engaged in a trade but it's the same person.

So if you buy something with your one Ethereum account at a low price and then buy it from yourself with another Ethereum account at a higher price, it looks like the price just went up.

Do you see how this works?

Of course, there are many different ways to play the NFT game, but given the regulated and shadowy nature of crypto in general, it shouldn't be a surprise that a lot of people are either getting burned by NFTs or not getting the results that they expected.

Sure, you keep hearing about million-dollar paydays from time to time but who knows if that's legit.

So generally speaking, unless there's a lot more transparency in that space or you are using NFTs within an environment that has a specific and practical use case with matching values, then it's probably a good idea to steer clear.
 
Metaverse still have time , in to 6 years, we would be experience the next wave , NFTs are just the Blip !
 
We are currently in a transition period. We'll all see if it's bullshit. :)
 
IGKing said:
Clubhouse was literally evaluated at billions of dollars at this time last year. What's it worth today?

Same with Nikola. Pretty sure about a year ago it was worth 8x more than it is now.

What about Enron? Theranos?

Did the people who criticize those companies "really need to work on their ego"?

I don't like fraud. There's a lot of fraud in this space and it's a recipe for disaster.

P.S: I called out Clubhouse for being a completely stupid idea in early 2021. I was right, despite many of the most successful CEOs endorsing it. :)

Thank you for telling me to work on my ego, though. I definitely will.
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very true that!
never ceases to amaze me how much people love that analogy, but conveniently forget the part where he bought his wife for 3000 usd and can sell her off for 70.000 USD. wild wifes collection has a floor of 73.000 USD so yes, he can almost surely sell it for 70.000, before anyone comes with the "hE cAN List It foR 70.000" argument.
 
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