Supdawg Posted August 4, 2022 Report Share Posted August 4, 2022 Link to post Share on other sites More sharing options...
wiscotitansfan Posted August 4, 2022 Report Share Posted August 4, 2022 It's not worth looking through this thread but do any of the crypto nuts here support NFTs? Listening to some video game podcast and they're talking about how how luckily companies are backing away from that nonsense and curious if anyone here tries to convince themselves they are remotely useful. Link to post Share on other sites More sharing options...
Downtown Posted August 4, 2022 Author Report Share Posted August 4, 2022 15 minutes ago, wiscotitansfan said: It's not worth looking through this thread but do any of the crypto nuts here support NFTs? Listening to some video game podcast and they're talking about how how luckily companies are backing away from that nonsense and curious if anyone here tries to convince themselves they are remotely useful. Like blockchain technology, the technology and innovation behind smart contracts are truly capable of rapidly advancing our society. The early problems with NFTs are similar to most crypto-currencies in that they are so wildly driven by speculation and individuals looking to prey upon that speculation that the true societal "value" is misunderstood and under-implemented. Its a catastrophe that our understanding of NFTs is largely consolidated to .jpgs. I'm a largely curious person and worked on quite a few crypto projects in 2021 once the bull rally heated up. I've worked as a dev on my own ERC-20 token that was smart contract enabled and also worked on a team for two NFT PFP projects as well as an additional smart contract project that was funded by the EU and the lighthouse initiative before it went under. The one constant with every limited interaction I have had in the crypto space is that everyone eventually becomes a scammer. My own partners rugged two of my projects last year to make a measly $600. These are largely insecure and immature kids who are more focused on getting rich quick than actually developing tech. Too many opportunities in the process for someone to fuck it all up either out of greed or spite. One kid I still know from all of this lives in the bahamas at the FTX compound. He showed me the ultimate scam behind BTC and how it dictates the large caps. I will never touch the shit again after seeing/knowing how the exchanges can operate. Can you still make money in crypto and NFTs, etc? Absolutely. Even more-so because there are large industries built around the scams that are just trying to keep the system going for their own profits. But ultimately everyone involved is just trying to scam someone else and until that human aspect changes, the tech will largely be lost on the public. I was once hopeful, then curious, then skeptical, and now just annoyed with it all. ChemEngr79, and titanruss 2 Link to post Share on other sites More sharing options...
wiscotitansfan Posted August 4, 2022 Report Share Posted August 4, 2022 (edited) 3 minutes ago, Downtown said: Can you still make money in crypto and NFTs, etc? Absolutely. Even more-so because there are large industries built around the scams that are just trying to keep the system going for their own profits. But ultimately everyone involved is just trying to scam someone else and until that human aspect changes, the tech will largely be lost on the public. I was once hopeful, then curious, then skeptical, and now just annoyed with it all. Of course. NFTs more than crypto in general. It's all about the idea of how much money you can make. The functionality from what I can tell with an NFT solves an issue that was never a problem in the first place. I get the functionality that NFTs CAN have, but pretty much any instance I have seen of them actually being put into use is already answered somewhere else on a more mainstream level with just as little effort/convenience. Edited August 4, 2022 by wiscotitansfan Link to post Share on other sites More sharing options...
titanruss Posted August 4, 2022 Report Share Posted August 4, 2022 7 minutes ago, wiscotitansfan said: Of course. NFTs more than crypto in general. It's all about the idea of how much money you can make. The functionality from what I can tell with an NFT solves an issue that was never a problem in the first place. I get the functionality that NFTs CAN have, but pretty much any instance I have seen of them actually being put into use is already answered somewhere else on a more mainstream level with just as little effort/convenience. quit thinking of NFTs as just shitty art. NFTs are great for things like medical records and ticket sales. Basically anytime you need a unique identifyer to prevent fraud from counterfeiting things. Link to post Share on other sites More sharing options...
Downtown Posted August 4, 2022 Author Report Share Posted August 4, 2022 3 minutes ago, wiscotitansfan said: The functionality from what I can tell with an NFT solves an issue that was never a problem in the first place. I disagree. Our understanding of complex financial and contractual interactivity is limited because of what has been possible in our current system. Smart contracts can unlock possibilities in industries that aren't even conceptually possible. Any kind of royalty system that relies upon lawyers and middle-parties for distribution will completely be revamped once there is an established and trusted platform to do so. But that trust and development is eroded everytime we have some shiny new speculative turd project that comes out and prevents the advancement of the tech. The game will definitely change once all of the Boomers are completely cycled out of big business. titanruss 1 Link to post Share on other sites More sharing options...
titanruss Posted August 4, 2022 Report Share Posted August 4, 2022 13 minutes ago, Downtown said: One kid I still know from all of this lives in the bahamas at the FTX compound. He showed me the ultimate scam behind BTC and how it dictates the large caps. I will never touch the shit again after seeing/knowing how the exchanges can operate. Care to expand on this? Link to post Share on other sites More sharing options...
wiscotitansfan Posted August 4, 2022 Report Share Posted August 4, 2022 1 minute ago, titanruss said: quit thinking of NFTs as just shitty art. NFTs are great for things like medical records and ticket sales. Basically anytime you need a unique identifyer to prevent fraud from counterfeiting things. I don't think of it as shitty art. I literally just said that any practical functional use that has been implemented (obviously not referring to shitty art) solves an issue in a much more complicated way that's currently not even a problem. Link to post Share on other sites More sharing options...
Downtown Posted August 4, 2022 Author Report Share Posted August 4, 2022 Just now, titanruss said: Care to expand on this? Tether is pure garbage and they manipulate it to drive BTC. The entire market then moves in sympathy to BTC. All they need is volatility. That's how FTX was founded, by exploiting the exchange rates and skimming from the market. Link to post Share on other sites More sharing options...
wiscotitansfan Posted August 4, 2022 Report Share Posted August 4, 2022 3 minutes ago, Downtown said: I disagree. Our understanding of complex financial and contractual interactivity is limited because of what has been possible in our current system. Smart contracts can unlock possibilities in industries that aren't even conceptually possible. I guess I'll just need to wait and see anything of value being used by the masses via NFT. But saying it will solve things that aren't remotely conceptually possible isn't really anymore convincing. I'm sure there are uses for it, but as I said, anything actually being implemented is just trash or already being utilized by other easy to use tools currently adopted by the masses. As you mentioned though, it will just take time for those scams to ever not poison the entire concept. Link to post Share on other sites More sharing options...
titanruss Posted August 4, 2022 Report Share Posted August 4, 2022 3 minutes ago, Downtown said: Tether is pure garbage and they manipulate it to drive BTC. The entire market then moves in sympathy to BTC. All they need is volatility. That's how FTX was founded, by exploiting the exchange rates and skimming from the market. Yes Tether is garbage and the sooner that bubble pops the better. That should never have been allowed to exist. In fact, any USD pegged currency should be illegal if not made by the gov't. Link to post Share on other sites More sharing options...
Supdawg Posted August 4, 2022 Report Share Posted August 4, 2022 1 hour ago, wiscotitansfan said: It's not worth looking through this thread but do any of the crypto nuts here support NFTs? Listening to some video game podcast and they're talking about how how luckily companies are backing away from that nonsense and curious if anyone here tries to convince themselves they are remotely useful. I see some potential use cases for NFTs, in particular for collectables of physical items. People have been collecting shit forever. Having a digital representation of an item which you can verify exists as a 1 of 1 on the blockchain has value to some people. Link to post Share on other sites More sharing options...
Supdawg Posted August 4, 2022 Report Share Posted August 4, 2022 12 minutes ago, titanruss said: Yes Tether is garbage and the sooner that bubble pops the better. That should never have been allowed to exist. In fact, any USD pegged currency should be illegal if not made by the gov't. I trust USDC over Tether, but tether has got their shit together. As far as not allowing US pegged stable coins to exist without the government would be counterproductive in perpetuating the US$ hegemony. Ss far as tether propping up the BTC market, that has been disproven so many times. Same old uninformed and debunked FUD. Link to post Share on other sites More sharing options...
titanruss Posted August 4, 2022 Report Share Posted August 4, 2022 9 minutes ago, wiscotitansfan said: I don't think of it as shitty art. I literally just said that any practical functional use that has been implemented (obviously not referring to shitty art) solves an issue in a much more complicated way that's currently not even a problem. Royalties on art are already being used. I know artists who get to make money on the resale of their art when they don't have a hand in the sale. People actually trying to make real art... not just production scam houses Art filters or beats or any digitally created asset that can be used to create new things can have an NFT attached... throw it on a sample market place and people can just pic and choose assets for their music/art/software... then no matter how far dow the line of sampling you go... original creators get money. Link to post Share on other sites More sharing options...
titanruss Posted August 4, 2022 Report Share Posted August 4, 2022 19 minutes ago, Supdawg said: I trust USDC over Tether, but tether has got their shit together. As far as not allowing US pegged stable coins to exist without the government would be counterproductive in perpetuating the US$ hegemony. Ss far as tether propping up the BTC market, that has been disproven so many times. Same old uninformed and debunked FUD. I dont think Tether is propping up the BTC market at all. But I also definitely dont believe they have their shit together... Link to post Share on other sites More sharing options...
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