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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

#171

Post by nickthemagicman »

floren wrote: post #41
hoppyhoppy2 wrote: post #23

My main basic questions remain after reading about these NFT sales. Why can't someone just buy all rights to this video the same way a company can buy the rights to a film? What does the blockchain do that a couple lawyers and some paperwork couldn't? Why a blockchain-based digital "certificate" instead of just a certificate? Does my birth certificate or marriage certificate or college diploma need an upgrade to an N…

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.

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

#172

Post by PretzelPirate »

librish wrote: post #9

I don't have any problems with people buying or selling art for large sums of money, nor do I have a problem with people classifying art as pretty much whatever they want. The only thing I mind are the people pretending a real problem has been solved with NFTs. In any current (or conceived as far as I know) implementation of NFTs you have to trust so many people, technologies, and companies that the blockchain being…

NFTs exist that aren't pointers to artwork and are entities in games that can be traded or used outside of the game itself. Since the game state exists onchain, you don't have a dependency on oracles.

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

#173

Post by PretzelPirate »

Bronze_Colossus wrote: post #158
smnrchrds wrote: post #113

Earlier quoted context omitted.

I would rather not leave it to chance. If there aren't regulations yet, they should pass some ASAP. It didn't matter how many millions of people cared about Cecil the lion; it still took just one rich asshole for him to lose his life. https://en.wikipedia.org/wiki/Killing_of_Cecil_the_lion

I feel what your talking about is a non issue. Now, I think NFT is all a scam but I do believe that people think they can make money out of it. NFTs are for digital artworks, it is an artificial way to create scarcity. A physical painting is already scarce. Burning an actual Van Gogh would be like burning down a house and saying it's okay because the deeds to the house are fine.

NFTs aren't for digital artwork, but digital artwork is one application of the NFT token standards.

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

#174

Post by artifact_44 »

Enjoying all the confused dog faces in here, trying to understand this.

Its just capitalism, and capitalism is arbitrary and cruel.

When it's you making the money, it starts to make sense pretty quickly.

When it's not you making the money, it feels like egregious sin.

Its. Just. Capitalism.

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

#175

Post by anonyxyz »

Philip-J-Fry wrote: post #156
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…

From what I saw most of these really big NFT sales are going to the same few people. I think some people have just gotten very very crypto rich over the past year or two and this is just something they are spending their money on.

For the huge sales yes, but it's not for nothing. They are pouring 10s of millions into NFTs as a land grab in a potential new economy. If they lose it, nbd, since they have "fuck you" money anyway.

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

#176

Post by mattdesl »

legitster wrote: post #69

So, most NFTs are on the Ethereum network, correct? What's stopping people from just... making a new crypto NFT network? What if Doge NFTs take off - could everything be sold a second time?

There are already many NFT marketplaces across a range of blockchains. Depending on who you ask, it may be considered poor form to mint the same token on multiple chains.

It would be like a print artist selling multiple editions of what they claim to be a limited 1/1 print run (nothing is stopping print artists from doing this now besides integrity & social contracts - it could devalue their work).

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

#178

Post by Crazyontap »

hackinthebochs wrote: post #28

The only explanation for NFTs that made sense to me is that people with an interest in the network (e.g. early investors) are bidding up some choice NFTs to make news and drive interest in their network. There is no actual market for NFTs at these prices, but that doesn't stop groups with deep pockets from pretending like there is by purchasing well known memes for eye popping amounts. If internet "celebrities" are a…

Yes, this and Bitcoin both feel like pyramid schemes.

There is a lot of initial investment from top-tier people who convince others to invest (by showing eye-popping returns) and drive more investment. Soon the people on the top-tier gradually cash out and eventually it's the common people who lost their hard-earned money.

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

#179

Post by dkasper »

hnnnnnnng wrote: post #98
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.

Imagine you got into Bitcoin in 2010 and bought a few hundred dollars worth. Now that is worth more money than you could even dream about. The real question is why not buy an nft for the lulz?

I don't think that's what's happening here for the most part. Many NFTs are not even purchased with crypto, they're bought with credit cards or bank transfers on sites like NiftyGateway.

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

#180

Post by anonyxyz »

miracle2k wrote: post #129
AlexandrB wrote: post #97

Earlier quoted context omitted.

I'm curious what will happen when an NFT for the same piece of art gets sold on multiple blockchains. Now you can "own" a "Charlie Bit My Finger" NFT on Ethereum and someone else owns it on the FooBar blockchain. Which one is "authentic"? Blockchain doesn't help you here - you're going to have to go to court to prove you own the "authentic" one or sue the artist for selling 2 copies instead of one.

The artist can mint two copies on the same blockchain, no problem. It's a digital print.

This would tarnish their reputation
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