21–30 of 332 posts
The NFT market is for money laundering, how can it “pop”
This has supported my trust in bitcoin from the very beginning. Why do you need NFT for money laundering when you can use cryptocurrency to achieve the same directly?
One thing I have noticed when listening to the interviews of NFT companies is that, when describing NFT is the future, the arguments from these founders are examples of people/artists made money by selling NFT online. It has become more and more a theme for cryptocurrency technology has well: the reason you should be in is that other people have made money rather than the benefit of the technology itself. It is not a…
One thing I have noticed when listening to the interviews of NFT companies is that, when describing NFT is the future, the arguments from these founders are examples of people/artists made money by selling NFT online. It has become more and more a theme for cryptocurrency technology has well: the reason you should be in is that other people have made money rather than the benefit of the technology itself. It is not a…
I am hardly surprised. While Bitcoin maybe had theoretical uses as a currency a decade ago, the NFT hype never made any sense whatsoever to begin with.
These cycles are getting faster: 1. I read a post on HN extolling a new use of some technology. I understand how it works but don't get why . I do not jump on the bandwagon. 2. I read about the same technology but not on HN - maybe an online newspaper. I recognise there is an upcurve. Maybe I should have jumped when I read it on HN. 3. Beeple makes a fortune. My son and I enjoy watching him on corridor crew. I think…
It's like becoming a TikTok star. One guy creates a meme, gets ten milion views, lives in a mansion in California. Millions of kids think they can do the same thing and drop out of school. Not worth it. I remember reading a blog post by a Wall Street banker talking about the pre-2008 culture. He said that it was common for people to get promoted because they made money, even if they didn't know why. Justifying bad decisions based on lucky outcomes retroactively isn't a culture you want to emulate.
NFTs are dumb however some of the NFT markets have one cool thing that I hope sticks around: the artist gets a cut of all future sales. If you sell your NFT art for $10 and then someone resells it for $1M, you will get some percentage of the $1M. We've all heard the stories of "collector buys 10 Jackson Pollock's for $10 in the 70s, sells the collection for $100M today". Wouldn't it be nice if the artist could benefi…
So pollock (or his estate or whatever) owns the copyright to the sold painting and so gets paid when you buy a postcard etc.
One thing I have noticed when listening to the interviews of NFT companies is that, when describing NFT is the future, the arguments from these founders are examples of people/artists made money by selling NFT online. It has become more and more a theme for cryptocurrency technology has well: the reason you should be in is that other people have made money rather than the benefit of the technology itself. It is not a…
A large % of people now believe that the finance industry only exists to work against them and make an elite minority rich. There's a strong sense of "Fuck You, I Got Mine" from the last generation, so the current generation is saying "Fine, I'm going to invent my own system... with Black Jack, and hookers!". Crypto/DeFi is creating a sense of euphoria and hope against a backdrop of helplessness where people are thinking "I will never own a home", "I will never be able to afford to retire" etc, so why not take a punt on the next big thing?
I was intrigued by some comments on HN the other day that dApps are where all the 'innovation' in crypto is today, so spent some time looking in to it.
After many hours I couldn't find anything even remotely interesting.
I'd give about 1-2 years for the NFT market to rebound. As the technology matures so will the supply. Demand will follow.
It took about 3 years for Bitcoin to surpass Bitcoin 2017 bubble price levels.
It took about 6.8 years for prices to rebound to dot-com bubble price levels.