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You mean, you didn't feel embarrassed in 2020 when people were all trying to find the next "food coin" advertising 10,000% APY to ape into? Because no matter h
by miracle2k 5y ago
You mean, you didn't feel embarrassed in 2020 when people were all trying to find the next "food coin" advertising 10,000% APY to ape into?
Because no matter how many times misinformed critics call NFTs a "scam": there is something inherently honest about them: pay money, get a collectible. There are no financial instruments here that can be misunderstood.
- madeofpalk 5y ago> there is something inherently honest about them: pay money, get a collectible. There are no financial instruments here that can be misunderstood. What is "a collectible"? There's what all the grifters say they are/can be. That's where the dishonesty comes in. All scams are technically fundamentally honest - pay money, get rock - once you remove all the parts that are dishonest.
- miracle2k 5y ago> What is "a collectible"? It's like a Bitcoin, but we say instead of saying it is digital gold, it represents a picture of a monkey instead.
- kibwen 5y ago> Because no matter how many times misinformed critics call NFTs a "scam": there is something inherently honest about them: pay money, get a collectible. There are no financial instruments here that can be misunderstood. It can absolutely still be a scam. Wash trading is trivially employed to inflate the price of the "bid money" step, fraudulently suggesting the existence of demand when there is none.
- miracle2k 5y agoI have yet to see any evidence that someone successfully wash traded their NFT project to success, but lots of people claiming that it is common place. It's much easier to pay off some influencers.