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The funniest thing about NFTs is all the real companies that fell for that shit (hexbear.net)
submitted 3 years ago* by to c/chapotraphouse@hexbear.net
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The most obvious stupid scam ever conceived and they actually managed to hook a bunch of actual corporations

Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.

Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.

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[–] 3 points 3 years ago (1 child)

The problem being that the poor can't afford to lose that gamble and they lack the connections or insider information to make better informed bets

well that makes no sense if it's the same amount of money being bet

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  • [–] 4 points 3 years ago (1 child)

    I'm confused. The rich and poor can bet 50k on a company? Surely you see the difference between losing 50k making 50k a year and losing 50k as a multimillionaire.

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  • [–] 5 points 3 years ago (1 child)

    yes but if you can't afford to loose 50K on the stock market you can't afford to loose 50K on crypto

    crypto currency does nothing to deal with the issue of whether or not you can afford to gamble money on it

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  • [–] 1 point 3 years ago* (1 child)

    People have bills man

    1,000,000- 50,000= 950,000

    50k-50k= 0

    Who can afford food after that?

    Affording something is just about having the cash on hand to buy it. If you can't deal with the consequences of the loss you're not really affording it no?

    Even with less extreme numbers the point still stands. You're misrepresenting and or misunderstanding UlyssesT.

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  • [–] 1 point 3 years ago* (1 child)

    No that's simply not my point the actual sum we're talking about isn't the important point.

    The point is that if you cannot afford to loose $x on the stock market then you cannot afford to loose $x on crypto because they are both gambling and so that legitimate criticism of the stock market is not an advantage of crypto

    I have been saying afford to loose rather than afford to spend this whole time

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  • [–] 1 point 3 years ago* (last edited 3 years ago)

    No one is saying it's an advantage of crypto???

    Where are you getting that? Who said it was?

    "But the crypto peddler said this new casino is different and better because the internet and the future and jargon words and revolutionize the world "

    This means it's the same old shit with a fresh coat of paint not that look at how evil crypto is compared to the stock market. No one has claimed or likely is going to claim on Hexbear that the stock market or crypto is a fair, reliable, and balanced way to make money.(for us poors anyway) I don't know why you're showing up being pedantic but also completely wrong about your pedantry. No one is making that point.

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