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

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

#231

Post by musicale »

sirsinsalot wrote: post #204
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…

I mean it's what happens when entry barriers to "invest" are low enough and you have meme marketing. Everyone in the middle of the bell curve piles in and things of average reasoning happen. A bit like football making billions from people watching some people kick a ball about. You can monetise the banal with fun.

> football making billions from people watching some people kick a ball about

Presumably ritualized tribal combat has a long history.

As does religion.

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

#232

Post by shostack »

betwixthewires wrote: post #228
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…

That's because you're not seeing what they are. Imagine buying a painting for a million dollars. Or a hand crafted watch. The markets for these talk a whole lot about the intrinsic value, the workmanship, the creativity. And people do love them for those things, but that's not why they pay so much for them. Imagine being able to park a retirement fund into something that fits in your pocket. You can't even do that wi…

I thought you were about to say they are fantastic money laundering vehicles.

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

#233

Post by tolbish »

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.

It's a similar concept to a trading card, in which you don't own nor have any relation to the actual asset depicted on the card. If trading cards were not a thing, you would think the purchase of a Hank Aaron card worth $10,000 would be ridiculous.

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

#234

Post by nimbleal »

kevinventullo wrote: post #224
nimbleal wrote: post #214

Earlier quoted context omitted.

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…

I don’t follow; can’t you play conservatively until you have a great hand and bet accordingly? If the other players are loose, they’ll call with anything. If they observe you are doing this and don’t play so loose against you, then I would take issue with the claim that they are not playing seriously.

You could wait until you have the nuts, but that might never happen. If you play too conservatively you risk just leaking blinds until you have nothing left, and because almost everyone goes in on almost every hand, you're playing against quite diminished odds that you're going to have the best hand.

Perhaps an excellent player might be able to crack the code (or at least be up over the course of enough games), but I'm not an excellent player.

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

#235

Post by joshfraser »

kbelder wrote: post #100
sumtechguy wrote: post #67

Earlier quoted context omitted.

I am more bewildered as I try to figure out where the value is coming from. An NFT as far as I can tell is just saying 'yes I own this thing'. But the original creator still owns everything really relevant about that thing anyway. What are they buying? Are there any relevant resources out there that lay out where the value is derived?

As near as I figure, it's not even 'yes I own this thing'. It's 'I own the NFT that refers to that thing', which only happens to connote ownership by convention. IE... somebody could sell the object and keep the NFT, or vice versa. There's no legal concept tying the NFT to ownership of the object, except perhaps indirectly via contract.

I'm one of the founders of Origin, the project that hosted this auction. Here's my take on it: It's a social contract between the creator and the collector.

Today when you buy a home you have someone go down to the local courthouse and check that there are no leans against the property and no one else is claiming ownership. In the future, you can imagine a world where that title would live on the blockchain and everyone could see the true owner based on their ability to sign a message with their wallet. You could transfer your title just as easily as any other blockchain transaction. While blockchain titles have obvious advantages, they are hard to pull off because you need 100% participation of everyone in the community for it to work.

The reason we're seeing art NFTs take off first, is that you only need the participation of the creator and a small group of collectors. The creator promises to sign all of their work with their digital wallet and as long as the buyer of the NFT trusts the creator, it works.

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

#236

Post by joshfraser »

whalesalad wrote: post #53

I don't get it. I just don't understand. One, why did anyone want to buy this meaningless video? Two, why did it need to be done via NFT, and finally why for such a large sum of money? Is this a form of money laundering? I am so confused, no part of this makes any sense to me at all.

Humans have always enjoyed collecting things, whether it's homes, or cars, or luxury handbags. We like to share the things we own with our friends. We often like to show off and flex and share the things we're proud to own. But what happens when you're better friends with someone on the other side of the world that you've never met than you own neighbor next door? That desire to own and collect things is still there, but now it just happens in a digital world. As our lives increasingly move online, it makes sense that the things we own and collect should be digital as well. The desire to be the single owner of the Charlie Bit Me video that has been enjoyed by hundreds of millions of people around the world, is the same desire that causes people to collect fine art or invest in digital cryptocurrencies.

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

#237

Post by 52-6F-62 »

daniellarusso wrote: post #153
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…

So, I have been working on a very stupid idea for some time now, that actually started as a social fart sharing app, record your farts, etc. Then, I needed a way to make sure people were actually sharing farts, and not other noises (like burps or dog barks). So, ML to the rescue. Train on a corpus of real fart audio and other sounds. But then, I needed to make sure the farts were not copies or derivative works. So, a…

You a Letterkenny fan?

https://youtu.be/fgsltPQQGxY

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

#238

Post by Sylamore »

daniellarusso wrote: post #153
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…

So, I have been working on a very stupid idea for some time now, that actually started as a social fart sharing app, record your farts, etc. Then, I needed a way to make sure people were actually sharing farts, and not other noises (like burps or dog barks). So, ML to the rescue. Train on a corpus of real fart audio and other sounds. But then, I needed to make sure the farts were not copies or derivative works. So, a…

Allow me to introduce you to season 1 episode 3 of Letterkenny: https://www.youtube.com/watch?v=O1IAUWIWjo8

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

#239

Post by wyre »

daniellarusso wrote: post #153
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…

So, I have been working on a very stupid idea for some time now, that actually started as a social fart sharing app, record your farts, etc. Then, I needed a way to make sure people were actually sharing farts, and not other noises (like burps or dog barks). So, ML to the rescue. Train on a corpus of real fart audio and other sounds. But then, I needed to make sure the farts were not copies or derivative works. So, a…

I had a very similar idea for blockchain-based, social sharing network, except instead of farts, it's poops. I would call them shitcoins, obviously.

This could be a network for farters and poopers.

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

#240

Post by ffggvv »

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…

not sure about this one but if it makes you feel better most of those high profile ones are either blatant money laundering or advertisements in disguise.

for instance the beeple one that sold for a lot was purchased by a guy who runs and nft website as basically an advertisement for his site.

who knows if they even had a prior deal before the auction where the artist would return some of the money

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