Tirmata

What do you think about NFTs?

35 posts in this topic

21 minutes ago, Darling Baphomet said:

 

"Authenticating" stolen images and artwork, in many cases.

unfortunately bad practices happen, as in any other service. recently there was a scandal involving "stolen art", which was quickly resolved.

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Yesterday I watched this really good video by Dan Olsen, (passively, I was revising for an exam for today) about NFTs and there issues. One of the problems that effects them on an economic basis: is the fact that both NFTs and cryptocurrencies are undergoing hyper-deflation, basically going up in value so much that it's already become an insular commodity.

There was a tonne of other problems detailed, without even mentioning the environmental cost. Here's the video if you're interested:

 

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Just people getting griddy with an image.

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Only idiots and rich people think they're a good idea.

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They are a fad that will go away in time like every other fad out there.  The fact that there is so much hype about them now shows that time is coming sooner rather than later.  Once everyone is talking about something like this, it's too late to get in on it.

 

It is possible the idea behind them may evolve into something actually useful, but as they are now they are far more likely to just fizzle out and cause a bunch of idiots to lose money and have nothing to show for it.  At least with other fads you had something to show for the time and money spent on them.

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Not my bag, but people are going to make money however they can. It's a fad, like others have said. It'll fade away when the money starts to dry up or the lawsuit train rolls by.

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I’m 800 so I don’t know what NFTs are. It’s pure gibberish to me.

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I'm a fan of the death of fiat currency, but this aint it chief. 

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Isn't NFT's basically people paying vast amounts of money for a Jpeg image or something and then sort of having some sort of rights to its ownership? I only heard the laymans of it, but it goes to show there's far more wealthy fucktards in this world than what was previously thought possible. 

 

I also heard Ubisoft plan to do it with games, but that gets a little creepy then. It wording microtransactions but at a bigger cost. I just don't see the point in stuff like that in a digital market. Cheap and cheerful yes, but on a game which could be dead and left without any dev support in a matter of months? No thanks.

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They show the ugliest and stupidest side of humanity. A complete waste of resources.

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