I lately got into the nft and crypto stuff, with a bit of profit in the bitcoins, and didn’t expect it to rise suddenly in the afternoon. In NFT’s I saw some of my friends selling art for good prices.
I wonder if they could actually just be our future…
What are your thoughts about it?
I don’t know much about this stuff, although I find it interesting. I think it’s most unlikely that selling NFTs would become anything more than a small portion of the ‘market’… but who knows?
I’m sure someone else will have more to say!
NFTs are an absolute scam, especially if you’re minting with one of the few NFT sites.
Crypto is also 99.999999999% a scam, you might as well play the lottery.
It’s totally fair getting this thought, but I wouldn’t ever say the scam is that high, yeh, it could be 90% even 96,or so.
Actually to those who don’t know, crypto isn’t itself a scam, it is a really secure thing, but the people who make cryptocurrency, mostly create it into a scam, they first get all the investment in their cryptocurrency, and when they have enough money, they sell all their crypto to get a big sum of bucks, and the investor would be left with nothing.
Doge coin might be ok to invest in, because we know the creator of it, so it’s easy to get all the stuff if any scam happens.
Who knows, maybe just the founder of Bitcoin, who is still unknown, will reply on this discussion, and we wouldn’t even know.
After all the internet is a weird place.
I cannot believe they will be our future, but I also thought like this about cryptocurrency, and now we require the electricity consumption of more than an entire country (e.g. austria) to keep this system alive just for gambling for the rich.
I can accept if people are using it (NFTs) to directly support an artist (like a donation) or if real contracts about right of exploitation are saved into the blockchain (but for both I think the blockchain is not required as we already have infrastructure for this), but otherwise I would not feel comfortable spending money just to get an essentially worthless (besides the speculation bubble) string into a blockchain.
It’s not, it is just a pretty inefficient linked list.
Yeh I looked into it. It is infact just a inefficient linked list.
Considering the the cyberattack that happened on wormhole. I might put a step back from ceypto now.
This, combined with stuff like:
Tends to make me think it’s all a lot of rubbish! But I’m open to being wrong…
I guess it depends if you are the one that made billions with it, or if you are the one that did not make billions with it. Eventually, somebody has to pay for the success of the few, and I suspect it’s not only those that lose money, but also society and environment. Growth is always limited.
That’s not quite right NFTs are crypto hashes from URLs stored in an linked list and not the art itself.
So if they lose/change the URL you have nothing.
It’s not only scam it is also pyramid scheme, ponzi scheme or
fraud. And it’s all highly speculative and of cause energy wasting. The best I have seen was just useless. And I’m a little bit sad about it, because I like the idea.
Crypto… the testing ground for eventual one world central bank digital currency.
In some cases 90% of investment in a company is made by very few wealthy individuals, meaning if they happen to pull their investment all at once, it can tank overnight. This makes it very unsafe. If you invest in that you are basically betting that the wealthy investors won’t pull out.
Also, I had a friend who was doing extremely well in crypto over a period of years suddenly lose it all overnight. Stolen, somehow. So what did he do? He went right back into it, this time spending a lot more on security or insurance or some such… I guess there are multiple ways for people to make money from it…
I don’t know much about nft and don’t want to. If I’m going to buy an artwork I want to be able to hang it on the wall.
I do not sell NFTs, I don’t know how they work. My friends were just saying they make good profits. I only invest in Bitcoin.