4 ms·
> Or am I smart not to gamble in such an obviously rigged game? This can not be understated. Everything about “crypto currencies” and NFTs are a complete and
by throwaway_kufu 5y ago
> Or am I smart not to gamble in such an obviously rigged game?
This can not be understated. Everything about “crypto currencies” and NFTs are a complete and total rig job. It’s not even hidden by the large SV capital, simply justified on the basis that...so what it’s the same thing the markets or art collectors have always done.
Instead of backroom dealings, it all takes place in chat rooms and discord servers. I’ll admit as somewhat of an artist I thought I’d submit my work to a “invite only” NFT marketplace and sure enough I get a DM from one of the most prolific and successful artists shaking me down for Bitcoin in exchange for the invite promising me a minimum amount in monthly NFT sales. Of course thinking that was a potential scam, I inquired about the pay to play and was not only told how the whole thing works from the founders down to these “anonymous” NFT collectors on Twitter run by the marketplaces themselves, and to confirm it I posted a tweet immediately liked by one such profile (to put in perspective the profile had bought an NFT from Musk’s partner for I think around $750k).
I never sent the Bitcoin on the basis of being disgusted with the whole thing, which in hindsight makes me a complete moron. Everyday as I see “artists” thanking the anonymous Twitter account for changing their life with a purchase of their NFT or how they are in tears because they can pay their student loan off...I consider giving the discord art submission, dm, and tweet to the news media...but then I realize they don’t care they probably are in on it too, or at least would calculate the amount of money on ad revenue and clicks they would lose if they exposed this scam and they could no longer write daily stories about NFTs.
You can definitely make money, just always remember it is a repeat of the gold rush and just marketing to poor people about life changing opportunity and gold so plentiful you can just pickup nuggets as large as your head, all you need to do if move to their town and buy their shovels. If you have no morals about it the better bet is to tell them you aren’t much of a digger but one hell of a shovel salesmen with a wink.