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(MSN)   "I paid $20,000 for NFTs of cats in bowls, but not because I thought the value would go up". Today's reminder that De Nile isn't just a broken URL to a JPEG of a river in Egypt   (msn.com) divider line
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748 clicks; posted to Business » on 26 May 2022 at 5:15 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-05-26 6:15:03 AM  
farking hell this is all just so damn stupid. I can't wait for it all to crash and burn. The lawsuits will be hilarious.
 
2022-05-26 6:50:52 AM  
"If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
img-s-msn-com.akamaized.netView Full Size
 
2022-05-26 6:58:17 AM  

bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]


Stop funging!
 
2022-05-26 7:29:00 AM  

bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]


It's cute but not worth more than twice my house.
 
2022-05-26 7:51:55 AM  
Gamestop just opened their NFT marketplace, and people are minting NFTs at a stupendous rate.  And not all of them are MS Paint scribbles.  We're talking millions of NFTs.  Together I bet they're worth more than a million scat bucks.  Easily.  You people are missing out.
 
2022-05-26 7:52:55 AM  

spiralscratch: farking hell this is all just so damn stupid. I can't wait for it all to crash and burn. The lawsuits will be hilarious.


They keep track of the train wrecks here.
 
2022-05-26 8:32:26 AM  

bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]


Let's remind people that the 10.000 bored apes were PROCEDURALLY generated from 172 assets.

Works of art my ass.
 
2022-05-26 8:33:54 AM  

spiralscratch: farking hell this is all just so damn stupid. I can't wait for it all to crash and burn. The lawsuits will be hilarious.


The journalist should stop lying for the crypto crowd.
The purchase of an NFT does not in any way enable the buyer to own the art.  It is (typically) a contract to allow the buyer to access the art on a computer through the internet and to trade that access.  The original art work (copyright) is still owned by someone else, and the real owner can sell multiple access NFTs to that identical piece of art.  It is no different than buying a book from a legal standpoint.  Owning a Harry Potter book in no way gives me the rights to sell the text copyrights or characters for films or advertising.  It only allows me to read the book or sell the book.  Except the book doesn't require server fees and won't disappear when JK Rowling stops printing other books like NFTs.
It's a huge scam.
 
2022-05-26 8:36:03 AM  

Marcus Aurelius: spiralscratch: farking hell this is all just so damn stupid. I can't wait for it all to crash and burn. The lawsuits will be hilarious.

They keep track of the train wrecks here.


And what a glorious train wreck it is! Funny thing about all this is the part of the reason people by NFTs is because they can't withdraw all that money without the scrutiny of certain government entities. People keep talking about how much the stuff is worth but a lot of people aren't pointing out the fact thatIt's very hard withdraw this money and bring it into the real world.
 
2022-05-26 8:37:42 AM  
Deepak Thapliyal, the chief executive of the cryptocurrency company Chain, who purchased a rare NFT of a pixelated alien in February for $23.7 million, isn't afraid. "My decision to purchase a rare Alien Crypto Punk remains the same as it is today," he said in a statement to The Washington Post. "It is a rare piece of digital art which will have a lifetime of value to the beholder."

What does "rare" even mean in this case?
 
2022-05-26 9:35:15 AM  
I've come to the conclusion that it's not that people are throwing away money on this that gets me so annoyed. Waste your money ever how you want. It's that I've worked since I was 14 years old to save up enough to buy a house. And not even buy it, just enough that I can afford to have a mortgage. And yet there's some idiot out here, wasting so much money when even half of what it sold for could outright pay off my mortgage. And how much of a difference that would make for my family. But I guess you could say that about any stupid rich people purchase.
 
2022-05-26 9:54:32 AM  

ModernPrimitive01: I've come to the conclusion that it's not that people are throwing away money on this that gets me so annoyed. Waste your money ever how you want. It's that I've worked since I was 14 years old to save up enough to buy a house. And not even buy it, just enough that I can afford to have a mortgage. And yet there's some idiot out here, wasting so much money when even half of what it sold for could outright pay off my mortgage. And how much of a difference that would make for my family. But I guess you could say that about any stupid rich people purchase.


You do not want to ever look at the watches that rich people wear.
 
2022-05-26 10:01:01 AM  

bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]


That's just Right-Clicker Mentality speaking.

https://www.vice.com/en/article/5dgzed/what-the-hell-is-right-clicker-mentality
 
2022-05-26 10:28:39 AM  

bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]


Hate to tell you, but hot links on Fark stopped like 10 years ago.  Everything linked or uploaded is first copied to https://usrimg-nnn.fark.net before being displayed in the thread.  URL used to be Digital Ocean, I believe.
 
2022-05-26 10:39:17 AM  

Marcus Aurelius: spiralscratch: farking hell this is all just so damn stupid. I can't wait for it all to crash and burn. The lawsuits will be hilarious.

They keep track of the train wrecks here.


Terra 2.0: The Search for More Money
 
2022-05-26 10:49:37 AM  
There seems to be almost as many "scammers" as there are "investors".
 
2022-05-26 11:34:34 AM  
"A host of collectors have shelled out small fortunes in recent months for digital assets whose worth is now in limbo."

That's a lot of words to describe idiots who bought worthless junk
 
2022-05-26 11:56:00 AM  
padraig:

Works of art my ass.

Wait, you're minting NFTs of your ass?

On a related note, every day my ass auto-mints its own limited edition entries to my "Bored Biowaste" collection. Scarcity is guaranteed because I can only mint a couple of them a day, and only for as long as I live.

That is, unless I've been to Taco Bell, then the artist in me becomes more inspired to mint more of this "art".

If you buy right one now, and send me three slurp juices, youll also get a special edition minting of whatever the slurp juices do, plus Ill throw a funny little hat on the result. That's right, you'd also be a proud owner of something from the "Funny hat bored biowaste" collection.

I don't want to brag, but in truth some very wealthy people DO regularly ask me for contributions from my "Bored Biowaste" collection. They're all rich medical professionals, actually.

Granted, I haven't charged them for any of my mints so far, because it usually coincides with them diagnosing a digestive system problem.

But still, I have several rich early adopters of my art!
 
2022-05-26 12:11:32 PM  

ModernPrimitive01: I've come to the conclusion that it's not that people are throwing away money on this that gets me so annoyed. Waste your money ever how you want. It's that I've worked since I was 14 years old to save up enough to buy a house. And not even buy it, just enough that I can afford to have a mortgage. And yet there's some idiot out here, wasting so much money when even half of what it sold for could outright pay off my mortgage. And how much of a difference that would make for my family. But I guess you could say that about any stupid rich people purchase.


The wealthy people who can afford to throw away money on this are amusing to me. As long as they would keep this bullshiat amongst themselves, like they do with rolex watches, I wouldnt care.

The BIG problem is that a huge number of the people spending on this are like what you describe -- barely with enough savings for a down payment on a house, or maybe zero for a down payment and barely enough savings for other life essentials.

For example, I know a guy with wife and kids who has quit his job and for months now is now relying on his crypto rig and NFT trading for income. He also hopes it will get him a big enough down payment for a house. Or hey, it might make him rich! When you talk to him he doesn't claim it will make him rich, he just puts the idea out there as a possibility, a very real possibility.

That's the tragedy in all this.
 
2022-05-26 12:20:42 PM  

cocozilla: "A host of collectors have shelled out small fortunes in recent months for digital assets whose worth is now in limbo."

That's a lot of words to describe idiots who bought worthless junk


At least actual Precious Moments are smashable should you feel inclined and there's a chance that someone genuinely appreciates them.
 
2022-05-26 1:56:11 PM  

Rapmaster2000: bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]

Stop funging!


preview.redd.itView Full Size
 
2022-05-26 1:58:55 PM  

valkore: bisi: "If it becomes a historical artifact, then it's going to be extremely valuable."

A real person said this. About an NFT of a picture some "digital artist" shiat out in an hour or two.
This same person somehow makes enough money to spend 600k on this bullshiat.

And, just to funge the hell out of it, this is the image we're talking about. Hotlinked, because why the fark not:
[img-s-msn-com.akamaized.net image 600x338]

Hate to tell you, but hot links on Fark stopped like 10 years ago.  Everything linked or uploaded is first copied to https://usrimg-nnn.fark.net before being displayed in the thread.  URL used to be Digital Ocean, I believe.


Oh, I see it now. That's good to know, so I've been saving and uploading images for nothing the last couple of years...
 
2022-05-26 2:05:55 PM  
Pam Tillis - Cleopatra, Queen Of Denial
Youtube lY-t_8O6RTM
 
2022-05-26 2:35:35 PM  

bisi: This same person somehow makes enough money to spend 600k on this bullshiat.


this is the one thing that I cannot figure out.

How do you get these jobs or the money.  Diamond Hands the wallstreet bets documentary talked with a bunch of 20 yr olds who were dropping $10-30k into it.

How do so many 20 yr olds just have tens of thousands in play money.
 
2022-05-26 2:43:24 PM  

Hyjamon: bisi: This same person somehow makes enough money to spend 600k on this bullshiat.

this is the one thing that I cannot figure out.

How do you get these jobs or the money.  Diamond Hands the wallstreet bets documentary talked with a bunch of 20 yr olds who were dropping $10-30k into it.

How do so many 20 yr olds just have tens of thousands in play money.


Some have rich parents. Some bought and held $15 worth of Dogecoin for a laugh, and still remembered their password when it shot for the moon last year.
 
2022-05-26 4:02:06 PM  

Hyjamon: bisi: This same person somehow makes enough money to spend 600k on this bullshiat.

this is the one thing that I cannot figure out.

How do you get these jobs or the money.  Diamond Hands the wallstreet bets documentary talked with a bunch of 20 yr olds who were dropping $10-30k into it.

How do so many 20 yr olds just have tens of thousands in play money.


If you scratch the surface you'll find a lot of them are fronting and borrowed to buy this stupid shiat.
 
2022-05-26 10:48:55 PM  
 
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