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Show HN: Scroll through all 43252003274489856000 Rubik's Cube states

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Re: Show HN: Scroll through all 43252003274489856000 Rubik's Cube states

#131

Post by d4ng »

ASalazarMX wrote: post #129
d4ng wrote: post #121

Earlier quoted context omitted.

Define useful in a measurable way that does not depend on any specific human’s subjective estimation.

Is a dictionary definition insuficient? useful - Having a beneficial use; serviceable: "a useful kitchen gadget." - Being of practical use: "a useful job; useful members of society." - Full of use, advantage, or profit; producing, or having power to produce, good; serviceable for any end or object; helpful toward advancing any purpose; beneficial; profitable; advantageous: "vessels and instruments useful in a family;…

Let’s say I bought an NFT for X and later sold it for Y profit. I bought a house with Y. The person who received X bought a car with it, or maybe long in oil futures with X before the Iran war, made Z, and bought a field with the profit. Or maybe he put Z in a couple of bonds and used the resulting return later.

Re: Show HN: Scroll through all 43252003274489856000 Rubik's Cube states

#132

Post by ASalazarMX »

d4ng wrote: post #131
ASalazarMX wrote: post #129

Earlier quoted context omitted.

Is a dictionary definition insuficient? useful - Having a beneficial use; serviceable: "a useful kitchen gadget." - Being of practical use: "a useful job; useful members of society." - Full of use, advantage, or profit; producing, or having power to produce, good; serviceable for any end or object; helpful toward advancing any purpose; beneficial; profitable; advantageous: "vessels and instruments useful in a family;…

Let’s say I bought an NFT for X and later sold it for Y profit. I bought a house with Y. The person who received X bought a car with it, or maybe long in oil futures with X before the Iran war, made Z, and bought a field with the profit. Or maybe he put Z in a couple of bonds and used the resulting return later.

I'd say that's a scam, not an argument for the usefulness of NFTs. My counterargument is that most NFTs made people lose money instead of buying them houses or oil fields.

I'd bet that most stories of NFTs translating to material wealth come from minters or the inner circle of early adopters, because they made something useless and valueless, and somehow convinced enough people that it was worth buying it for hard-earned cash. Many lost so a few could make bank.

They convinced fools to enter a rigged gamble.

Re: Show HN: Scroll through all 43252003274489856000 Rubik's Cube states

#133

Post by d4ng »

ASalazarMX wrote: post #132
d4ng wrote: post #131

Earlier quoted context omitted.

Let’s say I bought an NFT for X and later sold it for Y profit. I bought a house with Y. The person who received X bought a car with it, or maybe long in oil futures with X before the Iran war, made Z, and bought a field with the profit. Or maybe he put Z in a couple of bonds and used the resulting return later.

I'd say that's a scam, not an argument for the usefulness of NFTs. My counterargument is that most NFTs made people lose money instead of buying them houses or oil fields. I'd bet that most stories of NFTs translating to material wealth come from minters or the inner circle of early adopters, because they made something useless and valueless, and somehow convinced enough people that it was worth buying it for hard-ea…

Value and usefulness are again subjective. For instance, what value would you have put on a can of Piero Manzoni’s Artist’s Shit? After all, we could all take a shit in a can. One can was sold for 124k EUR.

Many people lost some money. Maybe they gained from the experience. Many people made money. Maybe they lost some on other things. Many people got their knickers in a twist over things with such perceived (by themselves) low value selling for high value. Maybe they forgot that fiat money is a construction as well. Conversely, maybe they gained something intangible from the whole experience.

https://en.wikipedia.org/wiki/Artist's_Shit?wprov=sfti1

Re: Show HN: Scroll through all 43252003274489856000 Rubik's Cube states

#134

Post by hahahaa »

philipallstar wrote: post #125
hahahaa wrote: post #124

Earlier quoted context omitted.

Yes I want to be a billionaire when it comes to: * Public image * Borrowing power * Atttacting investors But a pawper when it comes to: * Paying tax

Then why do they pay so much tax? Top 1% pay 50% of the tax or whatever, and some of that other 50% of tax is actually just the public sector paying tax back , it's not a net contribution.

Well top 1% make most of the money so that makes sense. Need deeper analysis. What about top 0.01%?

The other 50%... those people are working!!!! Can't avoid paying people unless we go back to slavery.

Regardless it is one of the rich tricks to borrow against unrealized gains. And other shenanigans.

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