It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
NFTs Are a Pyramid Scheme and People Are Already Losing Money
11–20 of 268 posts
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#12Oh and let's not forget about the Ethereum fees and how shitty the tech is.
This really reminds me on how everybody perceived internet in early noughties, when everybody was telling me it's shit and it will never ammount to anything.
Man they were right, there was literally no value, just like there couldn't be value in standardized mode of exchange for digital goods - it doesn't have to be Pepe GIFs only.
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#13It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
In its most basic form, a NFT is simply a cryptocurrency token with the total supply of 1. Nothing more, nothing less. Anyone claiming anything else clearly don't know what they are talking about. The source of truth is the token, as it's only about the token.
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#14It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
Beeple did pretty well
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#15Can we stop with the environmental impact complaints of ethereum. ETH2 (Proof of Stake) is running and will be merged very very soon.
things_that_have_been_said_since_2017_but_have_not_happened.txt
Eth2.0 is actually filed under things_that_are_very_hard_to_research_develop_and_deploy_to_production_as_they_are_currently_supporting_a_200_billion_market.txt
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#16It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#17It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
Patents & trademarks?
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#18It's stupid at face value. No pyramid required. You cannot intrinsically link real world items to tokens. The source of truth is the real world, not the token. Add an unlimited supply of unique things, and how could anyone expect to make money from this?
In any event I can’t see authorities keeping a blind eye on this.
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#19I wrote my first Fortran program in 1969. I have been active in the field of computing since then, both as an academic and as a programmer in industry. During this time, there have been several times when I first heard about something new, something potentially game changing. I remember some of them very clearly: 1. Around 1971: a Wang desktop computer. Imagine: a computer that fit on a desk! 2. Visicalc (spreadsheet…
Re: NFTs Are a Pyramid Scheme and People Are Already Losing Money
#20What I don't get is the insane amount of money people are willing to pay. $5 here or there I could understand but thousands??