118
All Those NFTs Are Officially Worthless
(kotaku.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 22 Sep 2023
118 points (100.0% liked)
Ghazi
700 readers
91 users here now
A community for progressive issues, social justice and LGBT+ causes in media, gaming, entertainment and tech.
Official replacement for Reddit's r/GamerGhazi
Content should be articles, video essays, podcasts about topics relevant to the forum. No memes, single images or tweets/toots/... please!
Community rules:
Be respectful and civil with each other. Don't be a jerk. There is a real human being on the other side of your screen. See also the Blahaj.Zone Community Rules
No bigotry of any kind allowed. Making racist, sexist, trans-/homo-/queerphobic, otherwise demeaning and hateful comments is not ok. Disabilities and mental illnesses are not to be used as insults and should not be part of your comment unless speaking of your own or absolutely relevant.
No gatekeeping and being rude to people who don't agree with you. Leave “gamer” stereotypes out of your comment (e.g. sexless, neck bearded, teenaged, basement-dwelling, etc). Don't compare people to animals, or otherwise deny their humanity. Even if you think someone is the worst human on the planet, do not wish death or harm upon them.
No "justice porn". Posts regarding legal action and similar is allowed, but celebrating someone being harmed is not.
Contrarianism for its own sake is unnecessary and not welcome.
No planning operations, no brigading, no doxxing or similar activities allowed.
Absolutely no defense of GamerGate and other right-wing harassment campaigns, no TERFs and transphobia, racism, dismissing of war crimes and praise of fascists. This includes “JAQing off”, intentionally asking leading questions while pretending to be a neutral party. This also applies to other forms of authoritarianism and authoritarian or criminal actions by liberal or leftist governments.
NSFW threads, such as ones discussing erotic art, pornography and sex work, must be tagged as such.
Moderators can take action even if none of the rules above are broken.
founded 1 year ago
MODERATORS
Biggest surprise of the century: shitty jpegs aren’t worth hundreds of dollars anymore
NFTs are cryptographically authenticated links on the blockchain to shitty jpegs hosted on some website.
It's like how a boy scout troop can volunteer to clean trash off the side of a highway, and in exchange the city puts up a sign saying "Next 2 miles sponsored by Troop 123". Except instead of volunteering, you pay $100k. And instead of a sign, it's a huge granite wall in front of city hall on which they etch your name, a latitude, longitude, and elevation. And instead of a highway, it's 1 cubic foot of garbage buried in the municipal solid waste dump. And instead of sponsoring or owning the garbage cube, you are paying for the right to be the only name on the wall associated with that specific volume of trash.
I'm not sure your analogy really captures the sheer amount of waste blockchain is. Even a granite slab has some value, whereas the huge expense to create a blockchain entry gives you ... a receipt. Something that normally is completely free and which can be disposed of without a second thought.
Anyone who thought NFTs were good out of all the stupid blockchain ideas has to be beyond stupid. Stupid or desperately greedy ... which is also stupid.
Is a fantastic analogy. Well put.