Off Topic - Cryptocurrencies are a massive fraud - Forum

" Exile009 wrote: If people think crytoCURRENCY is a "massive fraud", I wonder what they'd think of NFTs lol. At least the currencies serve some purpose, especially so for things like Ethereum. I wonder what NFTs are supposed to do, other than serve as a faux certificate for a totally unenforceable ownership claim. For $40 I will sell you an authentic hand-written note stating that you own Path of Exile. You know it's authentic because I kept the receipt when I bought the notepad. If anyone asks I promise I will tell them I wrote it.	Posted by GusTheCrocodile on Sep 21, 2021, 7:12:38 PM Quote this Post
" GusTheCrocodile wrote: " Exile009 wrote: If people think crytoCURRENCY is a "massive fraud", I wonder what they'd think of NFTs lol. At least the currencies serve some purpose, especially so for things like Ethereum. I wonder what NFTs are supposed to do, other than serve as a faux certificate for a totally unenforceable ownership claim. For $40 I will sell you an authentic hand-written note stating that you own Path of Exile. You know it's authentic because I kept the receipt when I bought the notepad. If anyone asks I promise I will tell them I wrote it. Yes, but it's written on some impressive, very nice paper. I wouldn't even call it paper, really. Oh my god, it even has a watermark! But real talk, I wouldn't have said "unenforceable," either. "Unenforced," I think so, thus far. But who enforces certificates of authenticity from art auction houses? I don't see why the old brick and mortar copyright law wouldn't apply to an artwork owned via NFT. When Stephen Colbert was killed by HYDRA's Project Insight in 2014, the comedy world lost a hero. Since his life model decoy isn't up to the task, please do not mistake my performance as political discussion. I'm just doing what Steve would have wanted. Last edited by ScrotieMcB on Sep 21, 2021, 8:04:03 PM	Posted by ScrotieMcB on Sep 21, 2021, 7:50:33 PM Quote this Post
" ScrotieMcB wrote: But real talk, I wouldn't have said "unenforceable," either. "Unenforced," I think so, thus far. But who enforces certificates of authenticity from art auction houses? I don't see why the old brick and mortar copyright law wouldn't apply to an artwork owned via NFT. People can sell fake artwork via NFT. NFT does not automatically prove they are genuine. When you buy an original painting, you buy the physical object. In most circumstances, you own only the artwork, not the copyright to it. The copyright remains with the artist unless they specifically signed over their copyright to the buyer. A better description would be a digital ledger of ownership of whatever it is often for digital artwork. Digital artwork can be infinitely duplicated. Thus arise the need for proof of authenticity or scarcity; specifically the perception of that.	Posted by awesome999 on Sep 22, 2021, 2:49:35 AM Quote this Post
Seems like everyone is jumping on the NFT bandwagon these days. Even Reddit -	Posted by Exile009 on Nov 17, 2021, 5:47:18 PM On Probation Quote this Post
I've been seeing those really ugly ape/lion NFTs online and the twitter ppl who relentlessly buy them get really upset over users right-clicking and saving them and its the funniest thing ever Last edited by vilejackal96 on Nov 20, 2021, 7:36:00 PM	Posted by vilejackal96 on Nov 20, 2021, 7:35:29 PM Quote this Post
So some Australian guy coded this into existence and the world turned mad for the get-rich-quick scheme. [Removed by Support] Heart of Purity Awarded 'Silverblade' to Talent Competition Winner 2020. POE turned into a ratrace for the most div/hour. https://www.youtube.com/watch?v=NDFO4E5OKSE Last edited by JC_GGG on Dec 9, 2021, 12:48:03 PM	Posted by Reinhart on Dec 9, 2021, 12:47:01 PM Quote this Post
From market analyst Stefan Gleason: " Despite cryptos’ differences from traditional fiat currencies, they are still effectively unbacked assets. Owning Bitcoin does not put anything in your hand. While cryptocurrency can be exchanged directly for something tangible at a retailer that chooses to accept it, most crypto holders simply hold (or “hodl”) in hopes of appreciation. Were people to stop expecting Bitcoin to appreciate, then there may no longer be any compelling case for holding it and possibly little market left for it. Despite what many Bitcoin enthusiasts may tell you, cryptos may also be seized, controlled, or even co-opted by the government if it should decide to do so. This makes cryptos vulnerable to rising political risk as broke, revenue-hungry governments become increasingly rapacious. ='[.]'= =^[.]^= basic (happy/amused) cheetahmoticon: Whiskers/eye/tear-streak/nose/tear-streak/eye/ whiskers =@[.]@= boggled / =>[.]<= annoyed or angry / ='[.]'= concerned / =0[.]o= confuzzled / =-[.]-= sad or sleepy / =[.]= dazzled / =^[.]~= wink / =~[.]^= naughty wink / =9[.]9= rolleyes #FourYearLie	Posted by Raycheetah on Dec 9, 2021, 1:02:26 PM Alpha Member Quote this Post
Can I post this? https://www.youtube.com/watch?v=jvu0yoZFjF4 https://www.youtube.com/watch?v=eLA8-7Ptcfs Heart of Purity Awarded 'Silverblade' to Talent Competition Winner 2020. POE turned into a ratrace for the most div/hour. https://www.youtube.com/watch?v=NDFO4E5OKSE Last edited by Reinhart on Dec 9, 2021, 4:11:03 PM	Posted by Reinhart on Dec 9, 2021, 2:46:26 PM Quote this Post
So after removing Dislikes from YT cos she didn't like people disliking the video of her giving herself an award, it seems YT's CEO's next great idea is to jump on the NFT bandwagon - https://www.independent.co.uk/tech/youtube-nft-fan-own-videos-b2012134.html Last edited by Exile009 on Feb 16, 2022, 2:33:51 AM	Posted by Exile009 on Feb 16, 2022, 2:33:32 AM On Probation Quote this Post
" Exile009 wrote: So after removing Dislikes from YT cos she didn't like people disliking the video of her giving herself an award, it seems YT's CEO's next great idea is to jump on the NFT bandwagon - https://www.independent.co.uk/tech/youtube-nft-fan-own-videos-b2012134.html Ah, dipping a big toe into the murky waters of intellectual property rights. ='[.]'= =^[.]^= basic (happy/amused) cheetahmoticon: Whiskers/eye/tear-streak/nose/tear-streak/eye/ whiskers =@[.]@= boggled / =>[.]<= annoyed or angry / ='[.]'= concerned / =0[.]o= confuzzled / =-[.]-= sad or sleepy / =[.]= dazzled / =^[.]~= wink / =~[.]^= naughty wink / =9[.]9= rolleyes #FourYearLie	Posted by Raycheetah on Feb 16, 2022, 1:23:01 PM Alpha Member Quote this Post