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Charlie Bit My Finger video to be taken off YouTube after selling for £500k

bbc.com

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Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#211

Post by matheusmoreira »

xwolfi wrote: post #205
matheusmoreira wrote: post #192

Earlier quoted context omitted.

> I'm not stupid enough to make money in this market > What are all the stupid people going to pile in on next so i can get in and out before it crashes? Haha that's awesome. I spent so many hours researching stuff to invest in so I could make a good decision or at least an educated one. Company stock, cryptocurrency projects, whitepapers... And then I watched people making ridiculous amounts of money off of DOGE of…

Nah, it's a common story. When electricity and physics-based innovations started in France, people were so enamoured with novelty they started believing in anything remotely associated. Hence magnetism and homeopathy, still limping along to this day, came to have huge amounts of followers. "if you can turn on a powerful light at night, surely you can cure with magnetic fields coming out of your hands". Here is the sa…

> if you can store value simply by convincing each other without central authorities (bitcoin), surely you can explore it to its conclusion with NFTs

Cryptocurrency has actual value though. I don't think bitcoin has any inherent value, it's just famous because it came first. Technology like Ethereum and Monero are extremely valuable though. They aren't made up tokens that do nothing.

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#212

Post by hnick »

nickthemagicman wrote: post #171
floren wrote: post #41

Earlier quoted context omitted.

Key point: buying the NFT does not transfer rights to you. You're just buying the NFT. The original creator retains the rights to the video.

What! HA I understand it even less now.

Sounds to me like you understand it perfectly!

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#213

Post by banana_giraffe »

oneeyedpigeon wrote: post #199
banana_giraffe wrote: post #32

Earlier quoted context omitted.

> Cause the NFT itself means nothing to courts or laws, does it? We won't know till it's tried in court, but given that handshake agreements can carry weight in court if they can be proven, I'd suspect an NFT could be binding.

Aren't the people who are selling NFTs attaching terms and conditions to the effect of "this doesn't give you actual ownership"? In fact, the article states: > its owner does not actually buy the copyright itself

One of these days I'll get the point of NFT.

Maybe. If I do, I guess I can sell that event as an NFT. Or something.

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#214

Post by nimbleal »

bigdollopenergy wrote: post #118
ALittleLight wrote: post #17

I would describe myself, usually, as not a jealous man. I don't recollect the last time I've felt jealousy. But, something about NFTs provokes anger within me. Maybe that anger is jealously. It feels like NFTs are a mockery of the "market" for lack of a better word. When I think of what I would need to sell (items or time doing labor) to get these amounts and how incredibly useless NFTs actually are... It's frustrati…

I recently heard someone say "I'm not stupid enough to make money in this market", and I think it rings very true. With the short squeeze speculation on stocks, the crypto run+crash and NFT's. The market is a very confusing place nowadays. You'd have to be bonkers to invest in these things on paper, but yet, lot's of people are making bank from it every day (and vice versa). NFT is probably the most confusing of the…

If you’ve ever played poker where you’re the only serious player at the table and everyone else is very loose you’ll know it’s almost impossible to win. By taking lots of risky bets the other players aren’t doing any favours for themselves personally but as a group they’re (unintentionally) teaming up to guarantee one of their number will have an unassailably large stack. That’s much how I feel about the current investment market.

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#215

Post by TheDudeMan »

nimbleal wrote: post #214
bigdollopenergy wrote: post #118

Earlier quoted context omitted.

I recently heard someone say "I'm not stupid enough to make money in this market", and I think it rings very true. With the short squeeze speculation on stocks, the crypto run+crash and NFT's. The market is a very confusing place nowadays. You'd have to be bonkers to invest in these things on paper, but yet, lot's of people are making bank from it every day (and vice versa). NFT is probably the most confusing of the…

If you’ve ever played poker where you’re the only serious player at the table and everyone else is very loose you’ll know it’s almost impossible to win. By taking lots of risky bets the other players aren’t doing any favours for themselves personally but as a group they’re (unintentionally) teaming up to guarantee one of their number will have an unassailably large stack. That’s much how I feel about the current inve…

Anecdotes aside, I wonder if this is really true. I wonder if it has been tested. Poker bots are strong enough that it should be testable. Is there really a scenario in which a stronger bot reliably loses to a group of weaker bots?

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#216

Post by delecti »

willchis wrote: post #101
delecti wrote: post #54

Earlier quoted context omitted.

An NFT is essentially a trading card for the thing that it's attached to. Just like you don't "own" Babe Ruth in any meaningful sense by owning a Babe Ruth trading card, you don't "own" the artwork associated with an NFT by owning the NFT itself. The exception is if there's some arrangement external to the NFT that links ownership of the NFT to ownership of the thing.

And the horrifying thing is that they are selling NFTs for NBA trading cards (GIFs). So people now own a trading card of a trading card of a real person dunking :(

That actually seems less horrifying to me. That feels like those NFTs at least acknowledge that they're basically trading cards. It's not an "NFT of a trading card" it's "an NFT which stopped pretending it wasn't just a trading card."`

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#217

Post by benlivengood »

donatj wrote: post #144
benlivengood wrote: post #76

Earlier quoted context omitted.

It's righteous anger at a waste of resources and critical lack of understanding. NFTs aren't commodities or assets, they're just conspicuous consumption. Dramatically showing off how much money a person can waste on an illusion is cringe-worthy. It makes me annoyed in the same way pay-to-play games annoy me.

> they're just conspicuous consumption I mean aren't they arguably also wealth redistribution from the stupid-enough-to-buy-an-nft to the insanely-lucky? This is going to put Charlie through college no doubt.

That's about as good as lotteries which I also find cringe-worthy.

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#218

Post by benlivengood »

idoh wrote: post #142
benlivengood wrote: post #76

Earlier quoted context omitted.

It's righteous anger at a waste of resources and critical lack of understanding. NFTs aren't commodities or assets, they're just conspicuous consumption. Dramatically showing off how much money a person can waste on an illusion is cringe-worthy. It makes me annoyed in the same way pay-to-play games annoy me.

Agreed, and it's a very weird type of conspicuous consumption. You can't really hang the NFT on your wall, or drive up to a fancy dinner in an NFT. I guess you can brag about it?

NFTs are the sole value they encode, ala cryptokitties. NFTs that people pretend are related to real-world objects are basically Moon or Florida[1] real estate.

[1] https://en.m.wikipedia.org/wiki/Swampland_in_Florida

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#219

Post by [deleted] »

bigdollopenergy wrote: post #118
ALittleLight wrote: post #17

I would describe myself, usually, as not a jealous man. I don't recollect the last time I've felt jealousy. But, something about NFTs provokes anger within me. Maybe that anger is jealously. It feels like NFTs are a mockery of the "market" for lack of a better word. When I think of what I would need to sell (items or time doing labor) to get these amounts and how incredibly useless NFTs actually are... It's frustrati…

I recently heard someone say "I'm not stupid enough to make money in this market", and I think it rings very true. With the short squeeze speculation on stocks, the crypto run+crash and NFT's. The market is a very confusing place nowadays. You'd have to be bonkers to invest in these things on paper, but yet, lot's of people are making bank from it every day (and vice versa). NFT is probably the most confusing of the…

[deleted]

Re: Charlie Bit My Finger video to be taken off YouTube after selling for £500k

#220

Post by guycook »

jazzyjackson wrote: post #196
echelon wrote: post #166

Earlier quoted context omitted.

It gets even crazier. https://nft.gamestop.com GME as an NFT?

Actually its one of the few use cases that makes sense Gamestop's whole business was used games. I mean they'd sell you a new copy happily, and you could sell it back at discount and spend the money on a different used game Playstation / Xbox digital stores killed the market, now I pay $60 for the new assassin's creed and can never sell it, there's no such thing as a used game anymore If Gamestop has streaming rights…

There's already an attempt at doing this on PC [0] led by Brian Fargo of Interplay / inXile fame. I can't speak to how effective it is or how many people use it but it seems to be still operative after a year on public beta.

One key issue I see is that it's still quite centralised - you have to resell through their store and can't just exchange a game license for crypto at an arbitrary price. No surprise though that this is a necessary step on the way to getting publishers on board.

[0] https://store.robotcache.com/

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