Look, I think spending 1 million dollars on a neo-Hanna-Barbera-looking monkey in a hat is dumb as hell, but if people didn’t, then we wouldn’t have this Twitter thread.
Dude bought monkey art tokens with cryptocurrency, proceeded to get hacked and lose said monkey art tokens. Contacted FBI and the company that sold him the tokens. Offered to pay the hackers to give him back the tokens, hackers took the picture of the note he sent them, made it into another non-fungible art token, listed for sale on the internet. Also people made fun of him a lot for losing his monkey art
A lot of people might think it is stupid to pay $100,000,000 for a painting of a woman sitting in a chair, but that painting, especially if it is older than 50 years old, would be damn near impossible to fake. Not without spending a ton of time, effort and money to forge it. Digital art, anyone can literally press control-c control-v and make a perfect copy of it.perfect copy of it.perfect copy of it.perfect copy of it.perfect copy of it. just like that.
The whole idea is that the unique token holds the value and not the art… which is even dumber than the art holding the value
As if anyone cares about a database entry. It is essentially the same as the "name a star" or "name a whale" scams. Or lunar real estate (which is a real scam, look it up).
What gets me about NFTs the most is that advocates claim that their purpose is partly to secure wealth/value. But since someone can hack your device to get into your account and take your NFT's, that security and anonymity does not actually work for YOU any more than having unmarked bills in your possession would be more secure than marked bills. It facilitates getting away with crime more than anything. Transparency in the financial system is what limits and controls theft and crime. It's ass-backwards, I don't get how otherwise intelligent people have fallen for it.
It will take a lot to convince me that this stuff (any kind of crypto) isn't anything more than a big laundering scheme for drug lords and scam artists.
Hey, I have two (or is it three?) Green Lantern NFTs I got for free. I don't know the point of them, but I've got them.
i am proud owner of 100 million shiba . Its back down now but still have doubled. Think I got it when 5 zeros instead of 4 before the first number. If it ever gets to $1, i will pay off all your mortgages.
Nothing wrong with it when someone knows it is basically a lotto with no guaranteed winner. I feel bad for people who think it is an investment.
Oh, I keep thinking about getting in it. Not to build wealth with it, but make a quick buck to build wealth with
@Ssmiff, did your mention of paying off mortgages include a construction loan I'm going to run out and get? Asking for a friend.
Just remember, if Shiba ever made it to a dollar, the coins in circulation would be worth like 6+ times more than the entire combined global GDP So I wouldn’t bank on it ever getting to a dollar
