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NFTs Are – Finally – Worthless

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11–20 of 53 posts

Re: NFTs Are – Finally – Worthless

#11
post #7

hmmm I'm not sure about this claim: I'm as surprised as you are tbh Exhibit A (15 hrs ago) sold for $81,187: https://twitter.com/DegenerateNews/status/170462244577940731... Exhibit B (21 hrs ago) sold for $162,795 USD: https://twitter.com/DegenerateNews/status/170453517598236304... Exhibit C (3 days) sold for $221,590 USD: https://twitter.com/DegenerateNews/status/170391046378291222... Exhibit D (4 days ago) sold for…

Seems like it'd be feasible to fake sales or use NFTs to hide laundering/transfer schemes. Getting even one rube to buy one of these would easily pay for gas?

Re: NFTs Are – Finally – Worthless

#13
post #7

hmmm I'm not sure about this claim: I'm as surprised as you are tbh Exhibit A (15 hrs ago) sold for $81,187: https://twitter.com/DegenerateNews/status/170462244577940731... Exhibit B (21 hrs ago) sold for $162,795 USD: https://twitter.com/DegenerateNews/status/170453517598236304... Exhibit C (3 days) sold for $221,590 USD: https://twitter.com/DegenerateNews/status/170391046378291222... Exhibit D (4 days ago) sold for…

Anonymous speculators buying stuff back and forth doesn't mean they'll have value in the end.

But the article says that they have no value now. Someone is still buying and selling some of these things, for some reason.

Re: NFTs Are – Finally – Worthless

#14
post #13

Earlier quoted context omitted.

Anonymous speculators buying stuff back and forth doesn't mean they'll have value in the end.

But the article says that they have no value now. Someone is still buying and selling some of these things, for some reason.

Wash trading is another explanation. When the same person is buying and selling there is no real value being demonstrated.

Re: NFTs Are – Finally – Worthless

#15
post #13

Earlier quoted context omitted.

Anonymous speculators buying stuff back and forth doesn't mean they'll have value in the end.

But the article says that they have no value now. Someone is still buying and selling some of these things, for some reason.

To the above comment, we don’t actually know people are buying and selling these. It is also entirely possible these transactions are fraudulent (i.e. buy your own stuff to give an impression of demand).

Re: NFTs Are – Finally – Worthless

#16
post #3

Earlier quoted context omitted.

Well NFT was completely useless from the beginning on. Cryptocurrencies, on the other hand, are very useful for a whole lot of blackhat use-cases (and it seems like they are mostly useful for that, unfortunately). Same applies for AI. There is a whole lot of lucrative bad stuff that can be done with them, so they won't become worthless. Not clear yet if they will bring any good to the world, or if the balance will be…

Don't have to be a blackhat to enjoy having control of your own funds. Plenty of people don't trust their banks. I know someone who got his account shut down simply for moving his salary to his home country, where he was building a house. And that causes all kinds of problems, now he's not able to take a legit work, and even identify himself on government websites since that service is also controlled by and connecte…

I'm quite sure that if cryptocurrency were used at the scale of bank accounts, far more people would be far more screwed over by its much larger cracks.

Re: NFTs Are – Finally – Worthless

#17
post #7

hmmm I'm not sure about this claim: I'm as surprised as you are tbh Exhibit A (15 hrs ago) sold for $81,187: https://twitter.com/DegenerateNews/status/170462244577940731... Exhibit B (21 hrs ago) sold for $162,795 USD: https://twitter.com/DegenerateNews/status/170453517598236304... Exhibit C (3 days) sold for $221,590 USD: https://twitter.com/DegenerateNews/status/170391046378291222... Exhibit D (4 days ago) sold for…

Money laundering is always in demand.

Re: NFTs Are – Finally – Worthless

#18
post #3

Earlier quoted context omitted.

Well NFT was completely useless from the beginning on. Cryptocurrencies, on the other hand, are very useful for a whole lot of blackhat use-cases (and it seems like they are mostly useful for that, unfortunately). Same applies for AI. There is a whole lot of lucrative bad stuff that can be done with them, so they won't become worthless. Not clear yet if they will bring any good to the world, or if the balance will be…

Don't have to be a blackhat to enjoy having control of your own funds. Plenty of people don't trust their banks. I know someone who got his account shut down simply for moving his salary to his home country, where he was building a house. And that causes all kinds of problems, now he's not able to take a legit work, and even identify himself on government websites since that service is also controlled by and connecte…

Cash always seems like it solves these particular problems just fine. Or rolexes.

Re: NFTs Are – Finally – Worthless

#19
post #17
post #7

hmmm I'm not sure about this claim: I'm as surprised as you are tbh Exhibit A (15 hrs ago) sold for $81,187: https://twitter.com/DegenerateNews/status/170462244577940731... Exhibit B (21 hrs ago) sold for $162,795 USD: https://twitter.com/DegenerateNews/status/170453517598236304... Exhibit C (3 days) sold for $221,590 USD: https://twitter.com/DegenerateNews/status/170391046378291222... Exhibit D (4 days ago) sold for…

Money laundering is always in demand.

People always parrot "money laundering" when they see (what for them are) large amounts of money moving around.

Can you explain how does one launder money w/ NFTs? Because it's absolute nonsense.

Re: NFTs Are – Finally – Worthless

#20
post #7

hmmm I'm not sure about this claim: I'm as surprised as you are tbh Exhibit A (15 hrs ago) sold for $81,187: https://twitter.com/DegenerateNews/status/170462244577940731... Exhibit B (21 hrs ago) sold for $162,795 USD: https://twitter.com/DegenerateNews/status/170453517598236304... Exhibit C (3 days) sold for $221,590 USD: https://twitter.com/DegenerateNews/status/170391046378291222... Exhibit D (4 days ago) sold for…

How do you know these aren't wash trades?
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