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Futanari Damacy posted:The smart one was the kid who opted not to be in the reality show. Aimee, yeah, I forget about her because she avoids all the cameras. Definitely the smart one in the family.
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Dec 28, 2021 00:49
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chaosbreather posted:There’s a really interesting thing touched on a few pages back about NFTs that I found pretty interesting. It’s the notion that NFTs are good because they are digital status symbols, implying that buying them allows you to buy status. This is obviously untrue to anyone with the slightest bit of experience online but It’s pretty interesting as to why. I don't understand what problem they are trying to solve, isn't digital status signals just Instagram? People can work out pretty easily from Instagram if you actually have money or rented a Lamborghini for a few hours.
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Dec 28, 2021 00:58
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Three Olives posted:I don't understand what problem they are trying to solve, isn't digital status signals just Instagram? People can work out pretty easily from Instagram if you actually have money or rented a Lamborghini for a few hours. Tribalism is a hell of a drug. As long as they feel like they're "in" the group, it won't matter. Anyone with that level of critical thinking was probably quickly stomped out of the group and replaced with another "buttcoin to the moon" drone.
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Dec 28, 2021 02:25
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Protocol7 posted:Tribalism is a hell of a drug. As long as they feel like they're "in" the group, it won't matter. Anyone with that level of critical thinking was probably quickly stomped out of the group and replaced with another "buttcoin to the moon" drone. Yes, I work at Subway, drive a 2010 Buick Regal with a dented fender and live in a sparsely decorated studio apartment but as you can clearly see from my Ape GIF I am a member of the modern landed gentry.
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Dec 28, 2021 02:44
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Main Paineframe posted:fractional ownership of NFTs is already here and it's even dumber than that The huge $69M sale (of course it was) of the Beeple NFT at Christies or whatever was basically exactly this scam. It arguably jumpstarted the NFT (largely spoofed) craziness of 2021. The resulting token is down -97.7% from its peak: https://www.coingecko.com/en/coins/b20 Great piece on it here, but some old news for some of us: https://amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-buyer-and-his-nft-defi-scheme/
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Dec 28, 2021 03:49
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Why is it all so dumb and bad
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Dec 28, 2021 03:59
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Three Olives posted:I don't understand what problem they are trying to solve, isn't digital status signals just Instagram? People can work out pretty easily from Instagram if you actually have money or rented a Lamborghini for a few hours. The problem they're really trying to solve is "how do I sell a randomly generated string of letters and numbers to someone for several thousand dollars" They're trying to solve that problem by ranting about digital scarcity and status symbols
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Dec 28, 2021 04:19
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And this is why the future, be it NFTs or Memoji or the howling existential horror of the Metaverse, looks so ugly and boring: it reflects the stunted inner lives of the finance and technology professionals who produced it. As the visual manifestation of cryptocurrency, NFT art combines the nuanced social awareness of computer programmers with the soulful whimsy of hedge fund managers. It is art for people whose imaginations have been absolutely captured by a new kind of money you can do on the computer. --etheredumb
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Dec 28, 2021 04:32
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Main Paineframe posted:fractional ownership of NFTs is already here and it's even dumber than that Typically this would involve locking the actual nft up in a smart contact that would enforce the shared ownership. There may be people out there skipping that step though idk. Of course it would cost what like $20-100 to cast a vote on what to do with it?
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Dec 28, 2021 04:37
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GameStop stock hodlers on Reddit are very excited that GameStop seems to be opening an NFT marketplace soon. I can’t wait for this to fail. https://nft.gamestop.com/
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Dec 28, 2021 05:08
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https://www.youtube.com/watch?v=YZuMe5RvxPQ
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Dec 28, 2021 05:31
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resident posted:GameStop stock hodlers on Reddit are very excited that GameStop seems to be opening an NFT marketplace soon. I can’t wait for this to fail. I give it 70-30 odds that there's someone on WallStreetBets or one of those other dumb reddit threads bragging about how much money he's going to put into these NFT's. These communities have such weird ways of showing off, where you get acclaim in your group the more stupid and irrational your financial decision is.
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Dec 28, 2021 05:39
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Everyone knows the best decisions in business and finance are driven by emotions, duh.
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Dec 28, 2021 05:44
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syntaxfunction posted:Everyone knows the best decisions in business and finance are driven by emotions, duh. Just ape in your life savings, bro
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Dec 28, 2021 06:02
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Even a professional failson in an
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Dec 28, 2021 06:14
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Xanderkish posted:I give it 70-30 odds that there's someone on WallStreetBets or one of those other dumb reddit threads bragging about how much money he's going to put into these NFT's. A lot makes sense when you realise the massive amounts of money sloshing around nowadays is fuelled by boredom, rich rear end people who want insane returns to pump their high scores but have nowhere left to go.
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Dec 28, 2021 06:18
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https://twitter.com/SquawkCNBC/status/1475476213384761345
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Dec 28, 2021 06:29
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Futanari Damacy posted:The smart one was the kid who opted not to be in the reality show. wow never knew this. indeed real smart
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Dec 28, 2021 06:36
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novamute posted:Typically this would involve locking the actual nft up in a smart contact that would enforce the shared ownership. There may be people out there skipping that step though idk. Of course it would cost what like $20-100 to cast a vote on what to do with it? Yeah, but the practical difficulties of getting hundreds of people to use smart contract votes to decide when they should sell the NFT and what price they should ask for are non-trivial Why bother at all, then? Because it's easier for a NFT owner to find a few dozen people gullible enough to drop fifty bucks on a NFT fraction than it is to find one buyer willing to drop tens of thousands of dollars on the whole thing. Fractionalizing the NFT opens up access to marks with only a little spare cash while still being able to tell them it's a high-value asset, and the marks end up saddled with the work of actually getting someone to pay that theoretical high price for the whole thing. On top of that, all the fractional NFT schemes I've seen involve the fraction-buyers paying a recurring "custodial fee" to whoever fractionalized the NFT.
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Dec 28, 2021 07:37
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What if the horrors of Colonialism but on the blockchain https://twitter.com/wayan_vota/status/1433411908359630850 quote:Not only is Secretario one of over a million players who have flocked to the game over the past year, he is part of an increasingly elaborate outsourcing structure that has sprung up around it. Players like him are often sponsored by managers or guilds, who fund their entry into the game — a high barrier, with current costs that can go upwards of $1,500 — in return for a cut. quote:Lockdowns in the Philippines and elsewhere have forced many into irregular work. Workers in Venezuela, the game’s second-largest market, have shifted from finding outsourcing jobs on microtasking platform Remotasks to games like Axie Infinity, Rest of World reporting has found. Users from these two countries make up between 45% and 50% of Axie’s player base. NFTs are a con but a world where people can pay a techbro for the right to grind for nfts instead of using productive labor to put food on the table is also hella hosed up The Sausages fucked around with this message at 13:55 on Dec 28, 2021 |
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Dec 28, 2021 07:40
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For all the cargo culting and obvious lies around crypto and NFTs, as well as the idea of 'value' being complete nonsense, the idea of 'digital status symbols' is especially a laugh because I'm pretty sure even the NFT bros who genuinely believe it don't actually consider anyone's NFTs but their own to actually deserve any respect or admiration.
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Dec 28, 2021 08:01
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Aww yeah, Ferrari to the moon! https://twitter.com/ScuderiaFerrari/status/1475396014299394048
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Dec 28, 2021 11:05
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Someone coined the term Lumpenbourgeois one time and I just thought of that just now. That's how I feel when I hear "blockchain".
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Dec 28, 2021 11:26
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Someone said it best earlier in the thread, this is what it must feel like as a boomer trying to understand something modern that is so alien to them that they can’t even grasp the concept. The more brands jump on this poo poo the more I feel like I’m losing my mind. I mean it’s obviously in their naked self interest to sell “limited edition digital assets” or whatever the gently caress, so I know it’s corporate greed in overdrive that’s driving it rather than any true belief, but at the same time the more it appears to get legitimatised the more I want to reset this timeline.
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Dec 28, 2021 13:18
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Durzel posted:Someone said it best earlier in the thread, this is what it must feel like as a boomer trying to understand something modern that is so alien to them that they can’t even grasp the concept. It helps that NFT's are ridiculously easy to "manufacture". If a corporation could make money by doing next to nothing, that certainly makes it attractive.
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Dec 28, 2021 14:00
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Xanderkish posted:It helps that NFT's are ridiculously easy to "manufacture". If a corporation could make money by doing next to nothing, that certainly makes it attractive. But as we've seen so far the majority of people either don't get crypto poo poo or know what it is and don't like it care for it. Look at Ubisoft, their nft bullshit is a failure
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Dec 28, 2021 14:29
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Also the management ranks of corporate PR and marketing departments are filled soulless hype-chasing golems. They seek out and attach themselves to fads like remoras. They are intensely vulnerable to manufactured hype as long as it has a cloak of something they don't really understand (and they won't put in any effort to understand anything new because they're just going to jump onto the next fad). NFTs fit that bill 100%. Shifty Pony fucked around with this message at 14:43 on Dec 28, 2021 |
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Dec 28, 2021 14:39
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cost = value value = asset asset = capital gains capital gains = profit therefore, cost = profit
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Dec 28, 2021 14:41
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TontoCorazon posted:But as we've seen so far the majority of people either don't get crypto poo poo or know what it is and don't like it care for it. Look at Ubisoft, their nft bullshit is a failure Oh absolutely. NFTs are just about swinging your dick around about being able to buy money on useless bullshit, and the average person wants their bullshit to be at least somewhat useful. I just came across this Vice article on the "right-clicker" mentality and it basically encapsulates how the big appeal of NFTs (and related useless luxury products like a $1500 steak) is the exclusivity of it. Being able to buy it means you're not one of the "peons" who has to be choosey with their money. Sure, you're paying for what is essentially a randomly generated number with a link attached to it, but what's important is it's your randomly generated number, and you paid 10,000$ for it. And maybe, just maybe, someone else will pay 15,000$ for your randomly generated number.
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Dec 28, 2021 14:51
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So NFTs are just the "$250 Neiman-Marcus Cookie recipe," with a side of car speakers that the buyer rejected, except that there are no cookies or speakers.
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Dec 28, 2021 14:59
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Tricky Ed posted:So NFTs are just the "$250 Neiman-Marcus Cookie recipe," with a side of car speakers that the buyer rejected, except that there are no cookies or speakers. No; because I assume the 250 recipe will be printed on a piece of paper and you can frame it or something. The NFT version if Neiman Marcus hanging the recipe on a wall, and you handing the clerk who put it there 50 bucks. The clerk assures you that it's yours now, and they will not take it down. You have been assured of this. You can't touch it, and they're going to go under and take it down anyways. But, for a glorious moment, you thought you could turn around and sell that assurance for 10,000 dollars.
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Dec 28, 2021 15:09
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The Sausages posted:pineapple renters Loving this, don't care if it's historicaly accurate
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Dec 28, 2021 15:32
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Mindless posted:Loving this, don't care if it's historicaly accurate it's very historically accurate, pineapple motifs are still super common in upper class home decor.
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Dec 28, 2021 15:36
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Pineapples are also the symbol of the hospitality industry. Next time you check into a hotel, look for a pineapple nearby.
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Dec 28, 2021 15:47
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There's worse. Go dig up the loving SHAQ nft that nobody would even buy until he pimped it on twitter spaces. edit: https://twitter.com/SHAQ/status/1473745975676006400 That should tell you how few people give a poo poo about NFT's generally. I'm always reminded of this: 
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Dec 28, 2021 15:58
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notwithoutmyanus posted:There's worse. Go dig up the loving SHAQ nft that nobody would even buy until he pimped it on twitter spaces. James Gunn tried to jump in the NFT scam train early but no one but a few crypto-bros bots gave a poo poo. I haven't checked his twitter lately, but I think he went super quiet about it.
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Dec 28, 2021 16:25
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Desperado Bones posted:James Gunn tried to jump in the NFT scam train early but no one but a few crypto-bros bots gave a poo poo. I haven't checked his twitter lately, but I think he went super quiet about it. roughly equivalent to: "I'm disappointed I couldn't scam a few million dollars from you schmucks, but I'll be back"
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Dec 28, 2021 16:58
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The Sausages posted:iirc this happened in olde Europe with pineapples to the point that new money/soon to be poors again would hire a pineapple at premium rates to show off and enhance their status. Meanwhile old money failsons would do something like build a pineapple castle with a view of their heated pineapple greenhouses which would send a rich man broke trying to operate but doesn't make a dint on actual self-perpetuating wealth. Forget the status of merely renting a pineapple compared to having the ability to just gift pineapples to your connections and associates. More often than not NFT avatar havers are the pineapple renters of 2021.
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Dec 28, 2021 17:39
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Xanderkish posted:Oh absolutely. NFTs are just about swinging your dick around about being able to buy money on useless bullshit, and the average person wants their bullshit to be at least somewhat useful. I think the bigger scam mark is the 329845627856286756 companies all wondering if they should get in on the craze and mint their own line of NFTs. Companies have way more money to throw at a bad idea that might at least give them marketing.
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Dec 28, 2021 17:43
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notwithoutmyanus posted:roughly equivalent to: "I'm disappointed I couldn't scam a few million dollars from you schmucks, but I'll be back"  Yeah, I can see that happening. Although it would be quite the sight to see him getting dunked by MCU fans, film twitter and comic book readers.
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Dec 28, 2021 17:46
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