this post was submitted on 14 Sep 2023
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[–] tygerzer0@lemmy.world 6 points 1 year ago

…and yet here you are making a post about it. :)

[–] theostermanweekend@lemmy.ml 6 points 1 year ago (1 children)

Yeah....Luke with NFTs, the thing really has an Emperors New Suit vibe, to me.

[–] HiddenLayer5@lemmy.ml 3 points 1 year ago* (last edited 1 year ago) (3 children)

I still don't understand the "you own it" argument of NFTs. When you buy an art piece from the creator normally, don't you also own it? Like when you commission a piece from an artist the rights are transferred to you once you pay them right?

Also, trading NFTs is basically the same as rich asshole private collectors trading Van Gogh's and Pablo Picasso's, just dumbed down to get normies in on the action. I know NFTs promise to give the artist a cut of the revenue, but one, they're paid in tokens that are infamously difficult to actually buy anything with other than more crypto, not "real" money that they can spend on food or more art supplies, basically the techbro version of paying in exposure. Two, there is absolutely zero things stopping literally anyone from minting an NFT from stolen art and getting a cut too with, by design, no way for the real artist to take down those NFTs or for people who bought it thinking it's genuine and that they're supporting the artist to reverse their transactions. In fact AFAIK that's the majority of NFTs in existence, so to say it's "all about artists" while doing nothing to address that means you don't actually give a shit about artists.

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[–] TootSweet@lemmy.world 4 points 1 year ago (9 children)

Way back when Bitcoin was first being talked about on Slashdot, I mined for a while. On my processor. For like a month. I got about 1/20 of a Bitcoin out of it.

And then I lost interest for a long time. And then it became clear blockchain is an infinite self-similar fractal of scams and ponsis.

I haven't done anything with my 1/20 of a Bitcoin. I don't have any expectation it will go up or down. If the bubble takes back off and inflates so much 1/20 of a Bitcoin becomes life-changing money, I might try to sell it. Maybe if a bunch of crypto-owning crypto-skeptics organize a mass sell event to drive it to zero, I'll take part. Otherwise, it'll stay where it is for the forseeable future.

Ironic that someone like me who believes wholeheartedly that blockchain is snake oil is such a model hodler.

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[–] resurrexia@kbin.social 3 points 1 year ago

Crypto is the hack. On your wallet...

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