NFTs

[mister d]

I checked briefly (sorry Rass) and didn't see an all-encompassing topic so I'm putting it here.

[tennbengal]

I am gonna clearly never be on board. If this is the future, I am definitely gonna be left behind.

[rass]

not all-encompassing, I guess


The whole thing makes me feel dumb.

[mister d]

Yeah, I assume you can think Top Shots are stupid and still looooooove NFTs so I didn't continue off that thread.

[wlu_lax6]

I am gonna clearly never be on board. If this is the future, I am definitely gonna be left behind.

until the Swamp goes metaverse..and then maybe it will get scores

[Johnnie]

I just want to learn to make them so I can sell them and take dumb people's money.

[P.D.X.]

IMG_0474.jpg (197.48 KiB) Viewed 1195 times

[tennbengal]

I really am old-man-yells-at-cloud about all this.

And, this exacerbates that:

[brian]

Might as well get on board now, kids. By the end of the decade, you likely won't have a physical driver's license any more. It will be a digital NFT ID that you will show/scan whomever needs to see it (the cops, the DMV, bars, etc.)

[P.D.X.]

Sure but that's different than pretending that some digital files that serve no purpose somehow have value because someone decided they did. I'm all for real-world uses of the concept.

[brian]

Sure but that's different than pretending that some digital files that serve no purpose somehow have value because someone decided they did. I'm all for real-world uses of the concept.

Sure, but that's really no different than pretending that piece of cardboard with a baseball player's photo on it is worth $500,000 either.

It's the same idea. It has value because it is perceived to have value and because it's unique and in demand.

[A_B]

Sure but that's different than pretending that some digital files that serve no purpose somehow have value because someone decided they did. I'm all for real-world uses of the concept.

Sure, but that's really no different than pretending that piece of cardboard with a baseball player's photo on it is worth $500,000 either.

It's the same idea. It has value because it is perceived to have value and because it's unique and in demand.

Fungible would like a word!

[tennbengal]

Sure but that's different than pretending that some digital files that serve no purpose somehow have value because someone decided they did. I'm all for real-world uses of the concept.

Sure, but that's really no different than pretending that piece of cardboard with a baseball player's photo on it is worth $500,000 either.

It's the same idea. It has value because it is perceived to have value and because it's unique and in demand.

Except that's a tangible thing.

[Gunpowder]

Sure but that's different than pretending that some digital files that serve no purpose somehow have value because someone decided they did. I'm all for real-world uses of the concept.

Sure, but that's really no different than pretending that piece of cardboard with a baseball player's photo on it is worth $500,000 either.

It's the same idea. It has value because it is perceived to have value and because it's unique and in demand.

I think the issue is that this is like every baseball card is worth $500,000 overnight somehow.

[Steve of phpBB]

I don't understand a single word in this thread.

[P.D.X.]

The baseball card is a 'thing' though that had a physical limitation to the number that could be produced, and a further limitation in that it can degrade over time. Thus it's value is tie to real-world constraints. You know you have something of value because it can be verified that only x were produced and only y remain in good condition.

An NFT doesn't have any limitations, other than that which someone arbitrarily decides. The image on your screen that you bought isn't the 'thing', it's the code that makes it appear. And that code snippet can be replicated ad infinitum and be immortal, we just trust that it won't be because that's what we're told when we give our money for it.

So I guess that's my beef with it. The value is of something non-fungible is artificially-induced and requires a level of trust by the buyer over something that can't ever be verified.

[mister d]

Its also not like a Mike Trout common produced for 2021 is being traded for $200K; the extremely expensive baseball cards are such because they're from the past and can't be replicated. I have to assume most of the people who bought present-day cards as investments in the 90s have very little to show for it.

I have no doubt you could buy a monkey today for $200K and find a way to make $225K off it in a few weeks. I very highly doubt that $200K monkey will mean shit to anyone in 2027.

[A_B]

Its also not like a Mike Trout common produced for 2021 is being traded for $200K; the extremely expensive baseball cards are such because they're from the past and can't be replicated. I have to assume most of the people who bought present-day cards as investments in the 90s have very little to show for it.

I have no doubt you could buy a monkey today for $200K and find a way to make $225K off it in a few weeks. I very highly doubt that $200K monkey will mean shit to anyone in 2027.

Yeah. I can't get shit for my 1996 Shohei Otani Rising Toddlers card.

[Ryan]

Yeah. I can't get shit for my 1996 Shohei Otani Rising Toddlers card.

Rising Sons ha who missed a pun now?!?

[pruitt2]

Its also not like a Mike Trout common produced for 2021 is being traded for $200K; the extremely expensive baseball cards are such because they're from the past and can't be replicated. I have to assume most of the people who bought present-day cards as investments in the 90s have very little to show for it.

I have no doubt you could buy a monkey today for $200K and find a way to make $225K off it in a few weeks. I very highly doubt that $200K monkey will mean shit to anyone in 2027.

As a budding old man who is starting to yell at clouds, let me say that when my son was a baby (born in 1996) he was given a ton of Beanie Babies. Loved them too. Teethed on a couple that at the time were allegedly worth hundreds of dollars.

Have a feeling that 20 years from now, a lot of these NFTs will be as valuable and as interesting as a spittle-encrusted Jumps the Bullfrog.

[A_B]

I thought Jumps was the shark.

[A_B]

Yeah. I can't get shit for my 1996 Shohei Otani Rising Toddlers card.

Rising Sons ha who missed a pun now?!?

Glossed over this...Point to Turd.

[testuser2]

I really wouldn't care about this, but the power and resources usage is an incredible waste. Not only to create, but exchange and verify. Pyramid scheme that hurts everyone and everything around it.

[pruitt2]

Man who paid $2.9m for NFT of Jack Dorsey’s first tweet set to lose almost $2.9m

[Rex]

such closed mindedness....some of you guys are just not fucking trying.

[A_B]

such closed mindedness....some of you guys are just not fucking trying.

It's an onion!

[Rex]

never feed a troll

[Johnnie]

If you have a couple hours, this is really, really good: