I use solar energy to mine crypto, so what now?
“There was no history of my ever purchasing it, or ever owning it,” said one confused NFT buyer. “Now there’s nothing. My money’s gone.”
So I see the whole "NFTs are backed by blockchain tech" was a lie.
I guess if people are dumb enough to buy it, there's always someone smart enough to sell it. The amount of $$ people are dropping on these things is mind boggling. This seems like something out of Demolition Man
KyAllroad (Jeremy) (Forum Supporter) said:Listening to NFT articles on NPR last week where they discussed people buying various gifs and sound files for more than what I paid for my house, my thought was "there is clearly too much money in the the world for people to be able to spend it on that."
The super rich are literally just looking for things to dump their money in to. It's absurd.
If it was only the "super rich" it would be fine.
Unfortunately, people in lower income brackets are the ones that can get burned by stuff like this. Many of these people are looking to "strike it rich" and make bad decisions.
And somewhat different topic, but how many people buying lottery tickets would be better off putting that money toward food for their children?
When government gets into the business of sponsoring gambling, society as a whole suffers.
DirtyBird222 said:So I see the whole "NFTs are backed by blockchain tech" was a lie.
The real problem is that they aren't backed by anything other than blockchain tech. Blockchain tech is not able to verify that entity X sold token Y to buyer Z on date Ω, and can check if token Y contains a link to webpage Φ or a hash of image Σ, but the blockchain can't look outside of itself to confirm that webpage Φ is still up or entity X has any ownership of image Σ .
1988RedT2 said:When government exists, society as a whole suffers.
Fixed that for ya
$69,000,000 the other day.
For an NFT collage called artwork.
RevRico said:1988RedT2 said:When government exists, society as a whole suffers.
Fixed that for ya
He says, using the technology developed by the government.
llysgennad said:$69,000,000 the other day.
For an NFT collage called artwork.
Bought by some company invested in promoting NFTs IIRC, so it doesn't really count in my opinion.
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