- Jul 8, 2017
- 3,654
- 4,821
Wtf is this, This BS nft sold for $270k
- Thread starter MgicalaEarner
- Start date
- Sep 10, 2010
- 11,632
- 26,082
Ftx ceo
Colmajor
Junior Member
- Apr 21, 2021
- 143
- 97
Billionaires buy crappy art with LARGE AMOUNTS of money to avoid paying taxes, I never understood why they do it until I saw it in a video on YT.
For you (and me) it's a stupid piece of crap (literally) for the person that bought it, it's probably a method to save money by avoiding taxes, and the best way to give the government the middle finger, and a nice way to decorate his office as well! (or basement in this case xD)
If you think about it, it's not stupid after all.
For you (and me) it's a stupid piece of crap (literally) for the person that bought it, it's probably a method to save money by avoiding taxes, and the best way to give the government the middle finger, and a nice way to decorate his office as well! (or basement in this case xD)
If you think about it, it's not stupid after all.
TheVigilante
Banned - Multiple Rules Violations
- Aug 31, 2010
- 15,002
- 16,108
What YouTube video can you link please
- Sep 7, 2017
- 6,208
- 5,452
I've watched/seen similar explanation.
But the long story short version is:
Billionaire pays an artist to draw/paint something for them at whatever cheap price, then get a valuator to value said artwork at a much higher price, say a million or more. Then the billionaire would turn around and donate the now extremely expensive (based on valuation) artwork to a museum, then use that as a tax write off.
Last edited:
- Mar 22, 2010
- 3,128
- 2,171
17th Century Dutch tulip speculators are turning in their graves...
Colmajor
Junior Member
- Apr 21, 2021
- 143
- 97
D
Deleted member 1333509
Guest
it's a really nice piece.. jealous. congrats to the buyer.
- Sep 10, 2010
- 11,632
- 26,082
I spent 3-4 hours and almost $200 on a nft on rarible. It has exactly .... 1 like till date. And ofcourse no bid (i don't mind as it was just a test). Then I see these stupid things being sold for a fortune. World is unfair.
- Oct 25, 2014
- 1,250
- 574
This is why people of Gov hates crypto, wasting money on this shit instead of putting in your savings ac, help your goverment.
NFT is are useless, like those crypto kitties. It never improve people life or helps to change it.
Its a gamble that to make people to think its worth it, and loose it all.
NFT is are useless, like those crypto kitties. It never improve people life or helps to change it.
Its a gamble that to make people to think its worth it, and loose it all.
clientica
Junior Member
- Jul 28, 2021
- 148
- 88
I asked myself the same question every time when someone buying pixels for a huge amount of money. But the new generation really likes pixels, so if you look from the perspective that this is the first test NFT, it possible to be an art in the future. Now looks like a scam.
Starblazer
Elite Member
- Feb 28, 2019
- 4,923
- 6,436
I have always been an artist. Some idiots laughed at me and stopped me from becoming a billionaire.
TashaJ
Regular Member
- Jul 9, 2019
- 385
- 375
Did anybody buy it?
Most of these large buys such as OP, are just listed and bought by the same company for publicity.
