Bitcoin

figmentPez

figmentPez

Staff member
Cryptobro argument "If NFTs are so wasteful, then why have VISA and Mastercard been researching crypto for decades".... Wow, really? You need to ask why credit card companies are researching a scam? Golly, I wonder why companies involved in predatory lending, who are widely known to target the financially ignorant, would have some interest in blockchain... It just boggles my mind. Surely companies with such upright reputations wouldn't want to be involved in something that's about making money in unethical ways, right?

UGH.
 
Ravenpoe

Ravenpoe

martirosyan said:
Well, guys, it's 2022, and the cryptocurrencies are still here. Surprisingly. As the OP mentioned before, I thought they would not last so long because they lack some central management. But I also thought that they are too distanced from the real world, and their virtual value has no base in the real world, and I thought that you won't be able to buy some real things for them. From what I see now, cryptos are used to buy even real estate, which is why I thought to start investing in them. I've read a lot of crypto content on xxxx lately, and I think I'm ready. Wish me luck.
Click to expand...
Thank you long time member that joined 22 minutes ago and is in no way trying to shill or spam us. We value this content.
 
bhamv3

bhamv3

I have a friend who works for an art company, and she said that her company is thinking of making NFTs out of some of their artwork, and I took the opportunity to ask her why they're making NFTs, and she basically said "for the money".

She doesn't care what NFTs are, she doesn't know the pros and cons of them, she just sees that NFTs can represent another revenue stream so they're going for it.
 
figmentPez

figmentPez

Staff member
bhamv3 said:
I have a friend who works for an art company, and she said that her company is thinking of making NFTs out of some of their artwork, and I took the opportunity to ask her why they're making NFTs, and she basically said "for the money".

She doesn't care what NFTs are, she doesn't know the pros and cons of them, she just sees that NFTs can represent another revenue stream so they're going for it.
Click to expand...
The only people who are going to make money there are going to be the tech company they pay to set up the NFTs for them.
 
Ravenpoe

Ravenpoe

bhamv3 said:
I have a friend who works for an art company, and she said that her company is thinking of making NFTs out of some of their artwork, and I took the opportunity to ask her why they're making NFTs, and she basically said "for the money".

She doesn't care what NFTs are, she doesn't know the pros and cons of them, she just sees that NFTs can represent another revenue stream so they're going for it.
Click to expand...
Depending on who they supply art for and how publicly visible they are, they might trade very short term profits (which themselves are a gamble, NFTs are losing what popularity they had with a smaller and smaller pool of actual buyers) for a massive loss in public opinion
 
bhamv3

bhamv3

Ravenpoe said:
Depending on who they supply art for and how publicly visible they are, they might trade very short term profits (which themselves are a gamble, NFTs are losing what popularity they had with a smaller and smaller pool of actual buyers) for a massive loss in public opinion
Click to expand...
They're a very small operation, like I dunno, three to five people. So they don't have much public opinion to lose, but they do need to scrabble for every possible source of income they can get.
 
figmentPez

figmentPez

Staff member
bhamv3 said:
They're a very small operation, like I dunno, three to five people. So they don't have much public opinion to lose, but they do need to scrabble for every possible source of income they can get.
Click to expand...
Do any of them know what an NFT is? Because the only thing NFTs are good for is scamming people. With NFTs you're either scamming someone, or getting scammed. If they deny they're trying to scam people, then they're lying or they're the mark getting conned.
 
bhamv3

bhamv3

figmentPez said:
Do any of them know what an NFT is? Because the only thing NFTs are good for is scamming people. With NFTs you're either scamming someone, or getting scammed. If they deny they're trying to scam people, then they're lying or they're the mark getting conned.
Click to expand...
I haven't really asked in detail, but the feeling I get is that no, they don't know what an NFT is. They just saw some people making money off these new-fangled en-eff-tee thingies and they decided to try to grab a piece of the pie.

My friend also mentioned that they're thinking of turning some of the art into VR/AR products. Again, I don't think they know what applying the works in VR/AR would involve, they just saw some people doing stuff like this and decided they should join in.
 
Dave

Dave

Staff member
I bought $50 worth of a coin that was trading at $1 a coin but is now like $.06 a coin. I either waste $50 or if it goes back up...
 
Tinwhistler

Tinwhistler

I invested maybe $3000 total in various cryptos, but managed to pull out at just about exactly even, which was perfect for the tax year and my divorce...so go me?
 
Shawn

Shawn

I think I spent maybe $400-$500 in coin last year. Only worth about $100 now. Maybe it will go back up. Maybe it won't. I'm just counting it as gambling losses and leaving it be.
 
PatrThom

PatrThom

figmentPez said:
So, while the Texas power grid is routinely on the verge of collapsing (I've had routine brown-outs this week), Texas lawmakers have been encouraging crypto miners to come here and set up their bullshit.
Click to expand...
Yes, Cruz has been touting this for a while now (since at least October of 2021), with the argument that making TX into a Bitcoin nirvana would solve TX energy woes because it would push TX to massively upgrade its generating capacity in order to mine Bitcoin. Then, whenever the state experienced some kind of energy crisis, all the Bitcoin miners would, through the power of altruism, deliberately throttle back their mining efforts to allow extra power to flow into the grid instead of their miners. Because that's how Capitalism works, right?

I am not making this up. This is actually his plan and rationale.
Oh and also it seems Cruz made a massive purchase of Bitcoin recently. Hmmmm...

--Patrick
 
Dave

Dave

Staff member
So my crypto went up to about $.20. Had I sold it would have made like $100. Instead I held and now it's at $.03....D'oh!
 
You must log in or register to reply here.
Top