6 ms·

There are children going hungry at school, people with trivial to fix but prohibitively expensive medical issues, and silicon valley millionaires are spending m

There are children going hungry at school, people with trivial to fix but prohibitively expensive medical issues, and silicon valley millionaires are spending more than many will make in a year by purchasing bullshit. Shit's on fire, yo.

GhostVII 6y ago
Well purchasing an NFT doesn't really reallocate any resources that would have gone to those things, so I don't think it's a huge issue. They are just transferring money from one person to another, essentially.
- xg15 6y ago
  > They are just transferring money from one person to another, essentially. That's what "reallocating resources" usually means.
  - GhostVII 6y ago
    I said they are not reallocating resources which would have gone towards those things. Unless the person buying the NFT has a greater chance of spending it on the poor than the person selling it, nothing has really changed as far as our spending on health, housing etc. goes. All money does is decide how we allocate physical resources and labour. If it is just sitting in a bank, or being moved from one person to another, nothing is being taken away from the poor.
drcode 6y ago
NFTs are a mechanism for transferring money from rich people to artists who are not rich. Isn't this something you should support, given your stated beliefs?
- qeternity 6y ago
  If you think this is what’s happening in reality, then I have a bridge to sell you...
  - legostormtroopr 6y ago
    Not anymore you don't
- vkou 6y ago
  Consider that the high-end art trade is largely a mechanism for tax evasion. I have not looked closely into NFTs, but I have severe doubts that starving artists are, or are going to be the actual beneficiaries of money sloshing through that system.
- klyrs 6y ago
  Are they? I'm not familiar with John Cleese's finances, but his well-established fame is probably driving prices up Not to mention that Jack guy who NFT'd his first tweet. Pretty sure he isn't hurting for cash
jamiek88 6y ago
> Shit's on fire, yo. Let them eat cake. Can anyone else hear the guillotines being sharpened? Seriously though this obscene inequality can only lead one place, and we were lucky that they were morons on January 6th and not organized properly. Ironically the revolution will be stoked by those first up against the wall in the name of engagement. It won’t be televised but it will be on Instagram.
- Invictus0 6y ago
  Real change can only happen if the poor (people earning less than $1M per year) unite against the rich. Instead, the poor are hopelessly divided and fight pointless culture battles, like the main/master debate.
  - snakeboy 6y ago
    I don't think anyone making less than the median US income has even heard of the main/master debate :) But sure, I agree with the larger point. Culture wars are great for keeping the weak divided. The $GME fiasco - albeit a bit silly - was the first glimmer of hope I saw in a long time towards that unification. Hopefully there's more to come.
  - wernercd 6y ago
    > poor (less than 1m) the top 10% globally is 30k... which is low income for Americans. Americans bitching about the 1% is laughable.
    - solveit 6y ago
      Ironically, America basically shows how the 1% can maintain control of the global hegemony for decades without any effective resistance. The fact that this system of oppression is fractally recursive adds to the irony.
      - throwaway53453 6y ago
        Precisely because Americans lead comfortable lives.
nathantotten 6y ago
> more than many will make in a year by purchasing bullshit. Often more than people make in a lifetime.
davesque 6y ago
Rich people have always spent lots of money on bullshit. That's nothing new.
- miguelmota 6y ago
  Similar effects of a Veblen good https://en.m.wikipedia.org/wiki/Veblen_good https://en.m.wikipedia.org/wiki/Veblen_good
- chrisco255 6y ago
  Yeah, like automobiles and cell phones before they were good or cheap.
  - solveit 6y ago
    Like ludicrously expensive mechanical watches after they got good, cheap, and obsolete (in that order).

GhostVII 6y ago

Well purchasing an NFT doesn't really reallocate any resources that would have gone to those things, so I don't think it's a huge issue. They are just transferring money from one person to another, essentially.

xg15 6y ago
> They are just transferring money from one person to another, essentially. That's what "reallocating resources" usually means.
- GhostVII 6y ago
  I said they are not reallocating resources which would have gone towards those things. Unless the person buying the NFT has a greater chance of spending it on the poor than the person selling it, nothing has really changed as far as our spending on health, housing etc. goes. All money does is decide how we allocate physical resources and labour. If it is just sitting in a bank, or being moved from one person to another, nothing is being taken away from the poor.

drcode 6y ago

NFTs are a mechanism for transferring money from rich people to artists who are not rich. Isn't this something you should support, given your stated beliefs?

qeternity 6y ago
If you think this is what’s happening in reality, then I have a bridge to sell you...
- legostormtroopr 6y ago
  Not anymore you don't
vkou 6y ago
Consider that the high-end art trade is largely a mechanism for tax evasion. I have not looked closely into NFTs, but I have severe doubts that starving artists are, or are going to be the actual beneficiaries of money sloshing through that system.
klyrs 6y ago
Are they? I'm not familiar with John Cleese's finances, but his well-established fame is probably driving prices up Not to mention that Jack guy who NFT'd his first tweet. Pretty sure he isn't hurting for cash

jamiek88 6y ago

> Shit's on fire, yo. Let them eat cake. Can anyone else hear the guillotines being sharpened? Seriously though this obscene inequality can only lead one place, and we were lucky that they were morons on January 6th and not organized properly. Ironically the revolution will be stoked by those first up against the wall in the name of engagement. It won’t be televised but it will be on Instagram.

Invictus0 6y ago
Real change can only happen if the poor (people earning less than $1M per year) unite against the rich. Instead, the poor are hopelessly divided and fight pointless culture battles, like the main/master debate.
- snakeboy 6y ago
  I don't think anyone making less than the median US income has even heard of the main/master debate :) But sure, I agree with the larger point. Culture wars are great for keeping the weak divided. The $GME fiasco - albeit a bit silly - was the first glimmer of hope I saw in a long time towards that unification. Hopefully there's more to come.
- wernercd 6y ago
  > poor (less than 1m) the top 10% globally is 30k... which is low income for Americans. Americans bitching about the 1% is laughable.
  - solveit 6y ago
    Ironically, America basically shows how the 1% can maintain control of the global hegemony for decades without any effective resistance. The fact that this system of oppression is fractally recursive adds to the irony.
    - throwaway53453 6y ago
      Precisely because Americans lead comfortable lives.

nathantotten 6y ago

> more than many will make in a year by purchasing bullshit. Often more than people make in a lifetime.

davesque 6y ago

Rich people have always spent lots of money on bullshit. That's nothing new.

miguelmota 6y ago
Similar effects of a Veblen good https://en.m.wikipedia.org/wiki/Veblen_good https://en.m.wikipedia.org/wiki/Veblen_good
chrisco255 6y ago
Yeah, like automobiles and cell phones before they were good or cheap.
- solveit 6y ago
  Like ludicrously expensive mechanical watches after they got good, cheap, and obsolete (in that order).