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NFT collector gets $280 top bid for Jack Dorsey NFT he bought at $2.9m last year

36 points by binarynate 4y ago

skilled 4y ago
Imagine how many people fell into this craze and went ahead to "invest" money that they couldn't afford to lose. Maybe 1k, 5k, 10k - for some this is enormous amount of money. But then to be met with a, "Yeah, but, I don't care about this NFT, it's old, good luck selling it." response... That's as stark of a wake up call as you can get.
- zhdc1 4y ago
  > Imagine how many people fell into this craze and went ahead to "invest" money that they couldn't afford to lose. Maybe 1k, 5k, 10k - for some this is enormous amount of money. That’s an accurate description for almost the entire crypto/nft/defi industry. Look at price and volume action for almost every coin or product launch. Check when they opened their Twitter account. Check when their 60k+ followers opened their accounts, and ask how an obscure coin/nft appeared out of nowhere and managed to get tens of thousands of followers in weeks. There are legitimate defi companies. The industry, at the moment, is a snake pit.
DarthNebo 4y ago
Stale bid, currently around $6K
jackvalentine 4y ago
Collector or speculator?
- zhdc1 4y ago
  When you’re paying 1m+ for digital „property“ that doesn’t produce income or can’t be leased or otherwise converted into income without selling it to the next sucker, is there any difference?
  - jackvalentine 4y ago
    Well if you thought there was an intrinsic value in the object you wouldn’t be too sad to keep it in your “collection”. I dunno about this guy though.
    - zhdc1 4y ago
      > Well if you thought there was an intrinsic value in the object you wouldn’t be too sad to keep it in your “collection”. I agree with you. There’s also a very legitimate argument for buying NFTs to support digital content creators. However, once you reach seven figures, you’ve reached a very exclusive level generally dominated by well known artists, with a market supported by extremely wealthy institutions and investors. There is almost no reason to believe that a Jack Dorsey NFT is worth seven figured absent what I listed above. This was speculation.
deleted 4y ago
[deleted]
smackeyacky 4y ago
Who doesn't love that blog. The only thing missing is the wicked, savagely funny commenters from fuckedcompany.com I would be happy to see that again.

36 points by binarynate 4y ago

Imagine how many people fell into this craze and went ahead to "invest" money that they couldn't afford to lose. Maybe 1k, 5k, 10k - for some this is enormous amount of money. But then to be met with a, "Yeah, but, I don't care about this NFT, it's old, good luck selling it." response... That's as stark of a wake up call as you can get.

zhdc1 4y ago
> Imagine how many people fell into this craze and went ahead to "invest" money that they couldn't afford to lose. Maybe 1k, 5k, 10k - for some this is enormous amount of money. That’s an accurate description for almost the entire crypto/nft/defi industry. Look at price and volume action for almost every coin or product launch. Check when they opened their Twitter account. Check when their 60k+ followers opened their accounts, and ask how an obscure coin/nft appeared out of nowhere and managed to get tens of thousands of followers in weeks. There are legitimate defi companies. The industry, at the moment, is a snake pit.

DarthNebo 4y ago

Stale bid, currently around $6K

jackvalentine 4y ago

Collector or speculator?

zhdc1 4y ago
When you’re paying 1m+ for digital „property“ that doesn’t produce income or can’t be leased or otherwise converted into income without selling it to the next sucker, is there any difference?
- jackvalentine 4y ago
  Well if you thought there was an intrinsic value in the object you wouldn’t be too sad to keep it in your “collection”. I dunno about this guy though.
  - zhdc1 4y ago
    > Well if you thought there was an intrinsic value in the object you wouldn’t be too sad to keep it in your “collection”. I agree with you. There’s also a very legitimate argument for buying NFTs to support digital content creators. However, once you reach seven figures, you’ve reached a very exclusive level generally dominated by well known artists, with a market supported by extremely wealthy institutions and investors. There is almost no reason to believe that a Jack Dorsey NFT is worth seven figured absent what I listed above. This was speculation.

deleted 4y ago

[deleted]

smackeyacky 4y ago

Who doesn't love that blog. The only thing missing is the wicked, savagely funny commenters from fuckedcompany.com I would be happy to see that again.