The Alarm Is Sounding On NFTs

[bluegate]

Wait.. what's web3 again? It's something cringe, isn't it? I bet it's web2.0 +1 and the +1 is cryptofuckery. Shit, 2.0 was only "hey, internet but now enough people have broadband we can use video more"

In simple terms Web2.0 was a name for how 20 odd years ago the web evolved to be interactive rather than just being a collection of static sites for people to read.

Web3.0 however...

 

[SilentPony]

I don't normally indulge in shadenfreude, but in this case I am sooo happy cryptobros are going to lose everything. I have an uncle in crypto, and he's absolutely one of those "smartest man in the room who always laugh derisively when anyone asks him a question" types of guys. Just insufferable and usually completely wrong.
Crypto was always just a Ponzi scheme and it feels good to see it collapse.

 

[Thaluikhain]

I don't normally indulge in shadenfreude, but in this case I am sooo happy cryptobros are going to lose everything. I have an uncle in crypto, and he's absolutely one of those "smartest man in the room who always laugh derisively when anyone asks him a question" types of guys. Just insufferable and usually completely wrong.
Crypto was always just a Ponzi scheme and it feels good to see it collapse.

Well, yes, but then all the money they lost presumably ended up in some other cryptobros' pockets. The Lord taketh, and the Lord giveth back.

 

[Satinavian]

Well, yes, but then all the money they lost presumably ended up in some other cryptobros' pockets. The Lord taketh, and the Lord giveth back.

Mostly.

But there is also minting (mining rigs, electricity) , hosting (for NFTs, but also exchanges, wallets), developer costs (for exchanges and other webtools, various bots, security) and advertising.

The crypto sector is continually bleeding money and otherwise moving money back and forth but investors expect profit. It is bound to collapse sooner or later.

 

[TheMysteriousGX]

...I woke up to this

 

[SilentPony]

...I woke up to this

Its depressing that this newest scam will make more money in a day than any of us will make in our entire lives.

 

[Buyetyen]

...I woke up to this

Most NFTs are really shitty art to begin with. These are just some really lazy photoshop jobs that you would expect from a teenage edgelord trying to teach himself how to use photoshop.

Still, just like Trump to jog sweating and huffing behind the bandwagon, even after it's already gone off a cliff.

 

[SilentPony]

Its depressing that this newest scam will make more money in a day than any of us will make in our entire lives.

Donald Trump's NFT Trading Cards Sell Out, Raise Over $5M

All 45,000 Donald Trump Trading Card NFTs sold in 12 hours, and people have spent millions trading them on the secondary market.

www.cnet.com

This makes my blood hurt.

 

[XsjadoBlaydette]

Donald Trump's NFT Trading Cards Sell Out, Raise Over $5M

All 45,000 Donald Trump Trading Card NFTs sold in 12 hours, and people have spent millions trading them on the secondary market.

www.cnet.com

This makes my blood hurt.

 

[Thaluikhain]

I like how he says that he's better than Lincoln or Washington. The guy credited with ending slavery, and the guy crediting from freeing the US from the divine right of kings.

Oh...wait...

 

[Worgen]

 

[BrawlMan]

Oh...wait...

The man sees himself as king of the United States and the world. Someone should properly crown him.

​

 

[Buyetyen]

Donald Trump's NFT Trading Cards Sell Out, Raise Over $5M

All 45,000 Donald Trump Trading Card NFTs sold in 12 hours, and people have spent millions trading them on the secondary market.

www.cnet.com

This makes my blood hurt.

I'm reminded of that line from True Detective. "Buncha people who would rather put a coin in the wishing well than pay for dinner."

I wonder how many of them are having buyer's remorse upon finding out what an NFT actually is.

 

[SilentPony]

I will say, I am glad the quality of these NFTs is so bad and Trump is so fucking lazy he absolutely never looked at these images. Otherwise he would have noticed the horrible compression that Trump Tower is now...rump towel.
Donald Trump. Asswipe.

 

[BrawlMan]

Donald Trump's NFT Trading Cards Sell Out, Raise Over $5M

All 45,000 Donald Trump Trading Card NFTs sold in 12 hours, and people have spent millions trading them on the secondary market.

www.cnet.com

This makes my blood hurt.

I'm reminded of that line from True Detective. "Buncha people who would rather put a coin in the wishing well than pay for dinner."

I wonder how many of them are having buyer's remorse upon finding out what an NFT actually is.

​

 

[Kwak]

...I woke up to this

What does "no purchase necessary, void where prohibited" mean?

 

[The Rogue Wolf]

What does "no purchase necessary, void where prohibited" mean?

If I'm remembering correctly, laws in the US prevent contest runners from making a purchase the only way to enter a contest. Most contests let you do a really tedious write-in thing to get an entry.

"Void where prohibited" is just boilerplate legalese, so that places where your contest is illegal can't sue you for letting one of their citizens enter.

 

[Specter Von Baren]

View attachment 7566

Note: Guys... I think they finally fucking killed that awful image format.

 

[BrawlMan]

Twitch Streamer and NFT Founder DNP3 Admits to Gambling Away Investor Funds (msn.com)

 

[CM156]

Twitch Streamer and NFT Founder DNP3 Admits to Gambling Away Investor Funds (msn.com)

"I am now completely broke both financially and spiritually. My sense of trust in myself is compromised," he added, saying that he was working with a help group to begin a "path to recovery."

Oh the friggin' audacity.