Anyone into NFT's and blockchain?

argyle43

He doesn’t post often, but Bob Loukas is not one you ever want to miss. This guy first noticed and expounded on crypto cycles and he has been spookily accurate ever since. He just posted a few days ago too.

https://youtube.com/channel/UC0zGwzu0zzCImC1BwPuWyXQ

Watch this and everything that has happened since he created it.
https://youtu.be/ivWdOztDkv4

catflap

Honestly guys - if you have spare money for a good investment, buy a lifetime on SLR

Dont believe in the hype of NFTs. All they are is digital bragging rights, except the thing you will be bragging about is your own gullibility. You might just as well get a "star with your name" or "an acre of land on the moon"

hhigh88

catflap your lifetime on SLR subscription would be an actual investment if that subscription would be an NFT.

argyle43

catflap All they are is digital bragging rights

Maybe right now that’s all they are, but as I’ve said above the potential for what NFTs can be has not yet even been scratched. There’s a AAA FPS game under development (will be Unreal Engine 5) where purchased weapons, armor, and other in-game items will be NFTs. This means you can prove ownership of said items (until such time as a better player takes them from you) and re-sell or trade them on the marketplace, potentially for profit. As the CEO loves to say, imagine acquiring a killer weapon and being able to look back at its ownership history to find it once belonged to a prominent gamer on YouTube or Twitch, or to a major celebrity. This means not only is it possible to get sunken gaming costs back out, but skilled players will be able to make a very good living playing the game.

This is just a single killer use case. Don’t be so quick to write off blockchain, crypto, and NFTs people. These things haven’t even begun to change our world, but ten years from now everything will be different.

LordCrash

hhigh88 Only if the lifetime subs were limited in numbers.

hhigh88

LordCrash always like your input man but inflation with 6% can also make it a good inflation hedge haha. Not to mention that if you do loose interest you can actually sell it. Will become an actual digital asset 🙂

hhigh88

argyle43 couldn't agree more...

justsomedude101

argyle43 Don’t be so quick to write off blockchain, crypto, and NFTs people. These things haven’t even begun to change our world, but ten years from now everything will be different.

I really hope they go the positive, value-added way in the next few years that you've given an example of.

Because I recently saw an ad banner for a chance to win an official "NFL Got Milk" NFT, and it made me want to jump off a bridge to avoid this new world we're entering into 🤣

catflap

argyle43 my "who-gives-a-shit-o-meter" is in the red zone when I think of the provenance of in-game weapons - but there may be some area where it takes off, and I will be proven wrong 😁

ibins

argyle43
And this exactly describes why NFTs are bullshit.
They bring already shitty "microtransaction" out of games into real life, although it is hard to say how "real" this actually is.

Nobody except for greedy CEOs of game publishers ever wanted this "microtransactions" in games, let alone in real life.

argyle43

catflap well my “who-gives-a-shit-o-meter” about your meter is deep in the red zone too bruh. It was just one example. my money says NFT utility will take off in countless areas, so go ahead and start planning to be proven wrong 😁

here’s more use case examples. Digital Identity, Medical Records, and the like will be a big one. A whole army of lawyers for contracts, deeds, and real estate will soon find themselves unnecessary. Pick up a copy of The Truth Machine or Blockchain Revolution if you think I’m full of shit.

catflap

argyle43 I have ready many books on futurology, but NFTs? Its still a no from me

argyle43

ibins And this exactly describes why NFTs are bullshit.

Disagree entirely, but little point expounding further.

hhigh88

ibins haha couldn't agree more either and CEO's of game publishers are often not big supporters of NFTs either. It is because it will allow consumers to buy / sell game assets outside of the game. But I don't think you fully grasp the idea of NFTs. It's a hype not with a lot of bullshit jpegs etc and I agree that is kinda bullshit. But the technology behind it will offer use many ways to decentralize ownership and especially the administration of it. E.g. when selling your car you can simply transfer the ownership documents as an NFT yourself, when resellign tickets for events you can also transfer the ownership yourself, etc. Endless possibilities that make us less dependent of (expensive) administrational bodies.

catflap

hhigh88 name some other technology that the masses "just dont understand, bruh" which have gone on to be wildly successful?

argyle43

catflap
“I think there is a world market for maybe five computers.”
Thomas Watson, president of IBM, 1943

“Television won’t be able to hold on to any market it captures after the first six months. People will soon get tired of staring at a plywood box every night.”
Darryl Zanuck, executive at 20th Century Fox, 1946

“Almost all of the many predictions now being made about 1996 hinge on the Internet’s continuing exponential growth. But I predict the Internet will soon go spectacularly supernova and in 1996 catastrophically collapse.”
Robert Metcalfe, founder of 3Com, 1995

And here’s one of my faves:
https://www.saturdayeveningpost.com/2017/01/get-horse-americas-skepticism-toward-first-automobiles/

catflap

argyle43 I thought of this NFT conversation when I read this article - basically some idiot payed millions for the "first tweet" and when he tried to auction it, the highest bid he got was $3,600

https://www.yahoo.com/news/guy-buys-nft-2-9-005000804.html

argyle43

The biggest problem with NFTs is that most people seem to think they are limited to this bullshit:

Yes, the technology allows people to own certifiable originals of that all that crap above, and pay insane money for the privilege (I too think these people have lost their minds, but the value of art has always been a head scratcher — at some point a lot of folks hoping to make a quick buck off these ridiculous jpg’s will be crying and holding a very expensive bag of worthless). But the potential of the technology will extend into certifying the authenticity of so much more than jpg pop art. It is and will be world changing, as the books I named above explain much better than I can.

spacepirate

argyle43 Yes, the technology allows people to own certifiable originals of that all that crap above, and pay insane money for the privilege

Heaps of it is wash trading with people buying their own art for crazy prices to make it look valuable and entice investment from dopes with more money than brains

argyle43 the value of art has always been a head scratcher

Art and money laundering, name a more iconic duo

argyle43

catflap yes, and I think this use case for NFTs makes as much sense as any art valuations do. Total head scratcher. And I said exactly that in this post further up:

argyle43 The biggest problem with NFTs is that most people seem to think they are limited to this bullshit:

…

But the use cases for NFTs will extend well beyond this stupidity. That has been my point all along. I’m pretty sure I provided some articles and links fleshing that out more.

Edit: I read the article and don’t feel the least bit sorry for that fool. Like Crypto, NFTs are simply a useful application of blockchain technology. Once digital ID’s, medical records, real estate contracts, etc. start utilizing blockchain via NFTs to certify their authenticity, the useful use cases will become clearer to the public. This pets.com style nonsense will become a distant memory as did all that initial Internet bubble hype.

justsomedude101

I can totally understand people rolling their eyes or being skeptical of the current state of NFT's. There's plenty of examples of them being used & abused, and 9/10 times when I read an article about them I do the same...especially whenever there's goddamn monkey/ape art involved...

But I also think it's a mistake to dismiss them entirely. Considering what a significant portion of our daily lives is already spent in one digital form or another (internet, programming, work applications, VR, etc. etc. etc.), it makes sense that at some point we will need ways to concretely prove ownership of digital/virtual items and non-tangible "things".

IRL you buy a car, you get a pink slip. You buy a home, you get a deed.

At some point there will need to be a more solid digital version of this proof of ownership for non-physical/digital goods, whether it's NFT's/blockchain or some other technology that is in its infancy or hasn't even been developed yet.

doublevr

Some really good points here. I guess the only option is to look for people to breathe life into it.
The people who believe in it should be the ones implementing it. I will just let things happen

Feel free to get in touch.

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