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All of the crypto ponzi schemes going to zero and all the idiots who participated losing their shirts would really be a wonderfully great outcome. It's also in

All of the crypto ponzi schemes going to zero and all the idiots who participated losing their shirts would really be a wonderfully great outcome. It's also inevitable eventually, all alternatives are just artificially prolonging the pain

worik 4y ago
> all the idiots who participated losing their shirts would really be a wonderfully great outcome. Very harsh. I can see no ethical way that they can keep their shirts (unethical is sell to greater fool). I do not think this is a "...great outcome". Wonderful or otrherwise It is yet another repeat of the age old lesson: There is no magic.
- rtkwe 4y ago
  I'm convinced that's what NFTs were partially invented and pushed to do. Hot new shiny thing to bring new money in to let the original crypto group cash out.
  - deleted 4y ago
    [deleted]
  - xvector 4y ago
    NFTs are a concept no different than Rai stones used by Micronesians for centuries, or any other property deeds style exchange. Hating on them is absurd - it's just another concept/financial construct.
    - vkou 4y ago
      As a concept, they are more like me selling a photograph of the deed to my house. Thinking that they solved a problem that anyone has ever had is what's absurd.
      - ryanobjc 4y ago
        Except that you basically have a photograph to the deed of your house. The deed to your house is not normally considered a bearer certificate, so if you lose it, the property tax office can issue you another one. In fact, your possession of the deed doesn't really entitle you to anything. While you assume that law enforcement would accept it as proof, they do not have to, and ultimately judges and the county registration system decides who owns what. And it's not even all that straightforward in some cases. So sure, your deed to your house. Okay.
    - simiones 4y ago
      NFTs typically don't even entitle you to copy the content you "own" - DEFINITELY not to re-license it, for any popular crypto market. If you are not the original buyer (i.e. if you bought your monkey NFT from someone else, not from the original issuer), they may well not entitle you to anything at all, since you do not have any kind of contract with the original issuer.
  - ryukoposting 4y ago
    They were probably made with good intentions, but it's hard to conceive of a more powerful device for laundering money.
deleted 4y ago
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worik 4y ago

> all the idiots who participated losing their shirts would really be a wonderfully great outcome. Very harsh. I can see no ethical way that they can keep their shirts (unethical is sell to greater fool). I do not think this is a "...great outcome". Wonderful or otrherwise It is yet another repeat of the age old lesson: There is no magic.

rtkwe 4y ago
I'm convinced that's what NFTs were partially invented and pushed to do. Hot new shiny thing to bring new money in to let the original crypto group cash out.
- deleted 4y ago
  [deleted]
- xvector 4y ago
  NFTs are a concept no different than Rai stones used by Micronesians for centuries, or any other property deeds style exchange. Hating on them is absurd - it's just another concept/financial construct.
  - vkou 4y ago
    As a concept, they are more like me selling a photograph of the deed to my house. Thinking that they solved a problem that anyone has ever had is what's absurd.
    - ryanobjc 4y ago
      Except that you basically have a photograph to the deed of your house. The deed to your house is not normally considered a bearer certificate, so if you lose it, the property tax office can issue you another one. In fact, your possession of the deed doesn't really entitle you to anything. While you assume that law enforcement would accept it as proof, they do not have to, and ultimately judges and the county registration system decides who owns what. And it's not even all that straightforward in some cases. So sure, your deed to your house. Okay.
  - simiones 4y ago
    NFTs typically don't even entitle you to copy the content you "own" - DEFINITELY not to re-license it, for any popular crypto market. If you are not the original buyer (i.e. if you bought your monkey NFT from someone else, not from the original issuer), they may well not entitle you to anything at all, since you do not have any kind of contract with the original issuer.
- ryukoposting 4y ago
  They were probably made with good intentions, but it's hard to conceive of a more powerful device for laundering money.

deleted 4y ago

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