55
Monkey jpegs, a shitcoin, a mobile game(?), and the occasional party at NFTNYC for 300k USD are not a good investment? Oh my. I need to speak with my fiduciary advisor.
I'm a literal dumbass and even I could advise them that investing your life savings into diarrhea ape smoking a cigar jpegs is not a good idea.
Die young and leave a good looking body is totally fine if that’s what you’re looking for. Me? I’ve lost one of those two options already :( And it’s not the right one.
That's an average price of over $241,000, but Bored Ape NFTs now sell for a floor price of about $50,000 worth of ether cryptocrurrency, according to CoinGecko data accessed today
I’m surprised they’re selling for anything at all
Looks like the game of "Bigger fool" finally caught up to the final fools. Good luck to those who felt gotten, sadly for them, the top dog scammers are gonna be halfway to a tropical island before they get to a lawyers office 
My apes lost all their value! 🐒
Uft. It does suck that people get drawn in to these schemes and end up destitute. Nfts are funny because the grift is so transparent, but there are also human victims.
If it's any consolation ape holders are early adopters. Like top 15% of the pyramid scheme guys.
True. The only way I can think of apes really screwing over little people is if someone was buying shares in an ape or something silly like that.
Who's going to end up destitute? No one in my level of income could afford to buy one of these. It's just rich goobers. That being said I think the technology behind NFTs is really important and I hate everyone who made the world think they're just monkey pictures when they're a pretty great invention that could do a lot of good for the world that has nothing at all to do with images of any sort.
It's a pretty shit idea tbh, the computational overhead is just to big for it to be worth using for anything practical.
Yeah, after years of searching for a problem, and dumping mammoth amounts of carbon in to the atmosphere, blockchain is pretty much a dead letter.
Whenever these scams come up there are people who cash out retirements or college funds or whatever to try to get rich quick. I think I heard a story about someone mortgaging their house to buy crypto. Some of it's just dumb assholes, but other times it's old people who are more susceptible to scams and end up with nothing.
You're using crypto and NFTs interchangeably which makes it difficult to know what level of knowledge you're speaking from. It sounds like mostly anecdotal information you have on the subject. I feel bad for people falling for scams.
I'm using them interchangeably because they're both scams. Useless "technologies" that have done nothing but cause misery and make the world worse. "What if we turned long strings of numbers in to a speculative asset by solving sudoku's that emit countless tons of carbon in to the atmosphere!?" Brilliant! Another great achievement of the age of declining rate of profit!
I've found in the past 3-4 years, the most aggressively angry people who talk about NFTs with the most matter-of-fact tone seem to be the ones who really don't know fuck all about what they are. Lol.
the most aggressively angry people who talk about NFTs with the most matter-of-fact tone seem to be the ones who really don't know fuck all about what they are. Lol.
When someone knows nothing about crypto they think it's a bit weird. When someone knows a little about crypto they think it's niche but maybe has potential. When someone knows a lot about crypto they recognize that it's literally the dumbest dumb guy shit ever, has literally no practical uses, and is offensively absurd and wasteful.
And NFTs are even dumber dumb guy shit, being extremely expensive fake receipts to literally nothing.
Asking in good faith here, since I'm genuinely curious - what practical applications do you see in block chain and NFT tech?
Buyers sue after digital apes turn out to be bad investment
Free market enjoyers in shambles 
Lol, lmao
this post was submitted on 19 Aug 2023
55 points (100.0% liked)
news
24615 readers
626 users here now
Welcome to c/news! We aim to foster a book-club type environment for discussion and critical analysis of the news. Our policy objectives are:
-
To learn about and discuss meaningful news, analysis and perspectives from around the world, with a focus on news outside the Anglosphere and beyond what is normally seen in corporate media (e.g. anti-imperialist, anti-Zionist, Marxist, Indigenous, LGBTQ, people of colour).
-
To encourage community members to contribute commentary and for others to thoughtfully engage with this material.
-
To support healthy and good faith discussion as comrades, sharpening our analytical skills and helping one another better understand geopolitics.
We ask community members to appreciate the uncertainty inherent in critical analysis of current events, the need to constantly learn, and take part in the community with humility. None of us are the One True Leftist, not even you, the reader.
Newcomm and Newsmega Rules:
The Hexbear Code of Conduct and Terms of Service apply here.
-
Link titles: Please use informative link titles. Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed.
-
Content warnings: Posts on the newscomm and top-level replies on the newsmega should use content warnings appropriately. Please be thoughtful about wording and triggers when describing awful things in post titles.
-
Fake news: No fake news posts ever, including April 1st. Deliberate fake news posting is a bannable offense. If you mistakenly post fake news the mod team may ask you to delete/modify the post or we may delete it ourselves.
-
Link sources: All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. If you are citing a Twitter post as news, please include the Xcancel.com (or another Nitter instance) or at least strip out identifier information from the twitter link. There is also a Firefox extension that can redirect Twitter links to a Nitter instance, such as Libredirect or archive them as you would any other reactionary source.
-
Archive sites: We highly encourage use of non-paywalled archive sites (i.e. archive.is, web.archive.org, ghostarchive.org) so that links are widely accessible to the community and so that reactionary sources don’t derive data/ad revenue from Hexbear users. If you see a link without an archive link, please archive it yourself and add it to the thread, ask the OP to fix it, or report to mods. Including text of articles in threads is welcome.
-
Low effort material: Avoid memes/jokes/shitposts in newscomm posts and top-level replies to the newsmega. This kind of content is OK in post replies and in newsmega sub-threads. We encourage the community to balance their contribution of low effort material with effort posts, links to real news/analysis, and meaningful engagement with material posted in the community.
-
American politics: Discussion and effort posts on the (potential) material impacts of American electoral politics is welcome, but the never-ending circus of American Politics© Brought to You by Mountain Dew™ is not welcome. This refers to polling, pundit reactions, electoral horse races, rumors of who might run, etc.
-
Electoralism: Please try to avoid struggle sessions about the value of voting/taking part in the electoral system in the West. c/electoralism is right over there.
-
AI Slop: Don't post AI generated content. Posts about AI race/chip wars/data centers are fine.
founded 5 years ago
MODERATORS