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The NFT fad has definitely turned me off as it seems totally bonkers, also the fact that the problem BTC is supposedly solving constantly changes based on whate

The NFT fad has definitely turned me off as it seems totally bonkers, also the fact that the problem BTC is supposedly solving constantly changes based on whatever gets people to put money into it. Add to this exchanges / tether printing manipulating the price and i'm pretty bearish on BTC and crypto right now, seems like the only problem they are trying to solve is "how can I become ludicrously rich by writing some code from scratch." But what if I'm wrong?....

drcode 6y ago
> constantly changes Suggested correction: "is constantly being expanded and added to"
- ufo 6y ago
  The bitcoin community often removes things from the list. I remember the days when bitcoin was supposed to be a revolutionary platform for microtransactions...
  - bingbong70 6y ago
    The person behind strike built an application that allows him to stream money (a payment every second) to his programmer in Europe with 0 fees using the LN... If you don't keep up with the tech, you shouldnt make these proclamations.
jerry1979 6y ago
>the fact that the problem BTC is supposedly solving constantly changes I grew my own Bitcoin thesis (legally in my basement for fun and profit). When people say that people changed the Bitcoin narrative, I can always unwrap those layers of opinions and evaluate them against my home-grown thesis.
dgellow 6y ago
I'm not sure I understand the hate for NFTs. Don't get me wrong, the concept of NFT as currently used is completely absurd and definitely overhyped. But what is bad about it? People who spend their money on NFTs mostly do it because they got rich in the past few years gambling on BTC or ETH, and now use that money to basically tip the artists they like. Or they plan to resell the token at some point, which is pure speculation, but nobody other than themselves risk to get burn. Minting and selling NFTs is almost zero work and effort for artists, all the risks are on the buyers side, and only if they buy them as speculative assets. It still make no sense to me, but if rich people want to gamble their money and by doing so support some artists, that doesn't sound too bad IMHO. I would be more cautious if retail investors would start to gamble in this market, but that's not what I've seen so far. (I'm also bearish on BTC, mainly because of Tether and the horrible incentives of PoW)
- fullshark 6y ago
  It's just indicative of the fact that we're 20 years into the blockchain, and the only real use case seems to be "acquire garish amounts of wealth from nowhere." Something everyone wants for sure, but if that's all it is, the party's gonna stop someday.
  - dgellow 6y ago
    Yes, it's definitely frustrating if that's the end game.

drcode 6y ago

> constantly changes Suggested correction: "is constantly being expanded and added to"

ufo 6y ago
The bitcoin community often removes things from the list. I remember the days when bitcoin was supposed to be a revolutionary platform for microtransactions...
- bingbong70 6y ago
  The person behind strike built an application that allows him to stream money (a payment every second) to his programmer in Europe with 0 fees using the LN... If you don't keep up with the tech, you shouldnt make these proclamations.

jerry1979 6y ago

>the fact that the problem BTC is supposedly solving constantly changes I grew my own Bitcoin thesis (legally in my basement for fun and profit). When people say that people changed the Bitcoin narrative, I can always unwrap those layers of opinions and evaluate them against my home-grown thesis.

dgellow 6y ago

I'm not sure I understand the hate for NFTs. Don't get me wrong, the concept of NFT as currently used is completely absurd and definitely overhyped. But what is bad about it? People who spend their money on NFTs mostly do it because they got rich in the past few years gambling on BTC or ETH, and now use that money to basically tip the artists they like. Or they plan to resell the token at some point, which is pure speculation, but nobody other than themselves risk to get burn. Minting and selling NFTs is almost zero work and effort for artists, all the risks are on the buyers side, and only if they buy them as speculative assets. It still make no sense to me, but if rich people want to gamble their money and by doing so support some artists, that doesn't sound too bad IMHO. I would be more cautious if retail investors would start to gamble in this market, but that's not what I've seen so far. (I'm also bearish on BTC, mainly because of Tether and the horrible incentives of PoW)

fullshark 6y ago
It's just indicative of the fact that we're 20 years into the blockchain, and the only real use case seems to be "acquire garish amounts of wealth from nowhere." Something everyone wants for sure, but if that's all it is, the party's gonna stop someday.
- dgellow 6y ago
  Yes, it's definitely frustrating if that's the end game.