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It's not dumb, it's gambling. You buy a stupid monkey doodle for $100k and hope to sell it to somebody else for $200k. Nobody wants the monkey doodle. The NFT c
by hnuser847 5y ago
It's not dumb, it's gambling. You buy a stupid monkey doodle for $100k and hope to sell it to somebody else for $200k. Nobody wants the monkey doodle. The NFT craze has nothing whatsoever to do with art, novel technology, decentralized ownership, or any of the other high-minded concepts people keep bringing up in these discussions. It's about gambling.
CrytoKitties did it back in 2017. NFTs are not new and there were flurry of articles back then along the lines of "How I Made $100k Trading CryptoKitties in My Free Time".
https://hackernoon.com/how-we-made-100k-trading-cryptokitties-2d69aebe715b https://hackernoon.com/how-we-made-100k-trading-cryptokittie...
- api 5y agoGambling not labeled as gambling is a scam. NFTs are being sold to the ignorant as something with real value or even as the future of art ownership and patronage. They are not even close to that today.