Nobody Cares: the Non-Fungible Thread

[Essence Lumin]

Shesh. Every other picture and/or story about this had a different sell price. heh. hmm.

Zoë Roth sells 'Disaster Girl' meme as NFT for $500,000

Zoë Roth, 21, will use the money from the sale of a 2005 image of her to pay her student loan.

www.bbc.com

Wikipedia says:

After receiving an email in February 2021 suggesting she sell the meme as an NFT for as much as "six figures", Roth decided to sell the original copy.[6] On April 17, 2021, Roth sold the photo, now an NFT, for the equivalent of US$486,716 to a collector identified only as @3FMusic.[7

Huh? So did she sell the original copy or an NFT? The [6] and [7] sources don't say anything about selling the original photo so I guess that is rubbish.

I corrected the Wikipedia entry. We'll see if it sticks.

 

[Dakota Tebaldi]

This is a good point and I've mentioned it before, but probably not enough - that crypto market cap is phony and the worth of a cryptocurrency, however much in gains or drops, is completely hypothetical.

As of the moment of this post Bing says 1 Bitcoin is "equivalent to" 22368.93 USD. And news articles like to treat that as a simple fact, the way that a Euro is currently worth 1.01 USD; and they derive crypto market cap as if it's real too; if 1 Bitcoin is worth x USD, and there are y number of Bitcoin that exist, the market cap of Bitcoin "in USD" is x times y. It's intuitive. But it's also a lie. Bitcoin (and cryptocoins in general) are only worth x USD when they are sold -for- USD. And I know that sounds like a semantical thing but it's not, because the entire market cap of Bitcoin cannot be converted into USD. Bitcoin, Ether, and the rest of the big currencies have deflated so much that there is no way to convert all of them into USD - every crypto exchange laid end-to-end in a line would not have enough actual cash between them to trade every Bitcoin or Ether for USD at current prices (and that's post-crash).

 

[Essence Lumin]

Expert Bitcoin Price Predictions: From $10K to $28K in 2022, and Beyond

Bitcoin’s price could still hit $100,000, but experts say this year's crypto market crash will push that timeline out a couple years.

time.com

 

[Veritable Quandry]

I see the value of Crypto as similar to Musk's claims to be the richest man in the world. Tesla has a market cap higher than Ford, Toyota, and Honda combined and sells a fraction of the cars. They don't have assets or sale that justify the price. And if Musk tried to liquidate his stock the price would crash.

 

[Beebo Brink]

Justin Bieber "bought" an NFT for $1.3 million. But he didn't pay for it.

Inside the shady world of celebrity NFT shills

web.archive.org

 

[Noodles]

Expert Bitcoin Price Predictions: From $10K to $28K in 2022, and Beyond

Bitcoin’s price could still hit $100,000, but experts say this year's crypto market crash will push that timeline out a couple years.

time.com

Is Time talking about the same Bitcoin?

Ate they also aware that the entire world is basically on the verge of economic collapse?

Seems more likely that Bitcoin, as a whole, could reach (down to), $100k, not $100k per Bitcoin.

 

[Veritable Quandry]

I did notice that all of the "analysts" they quoted have job titles that depend on selling crypto. It's like only interviewing used car salesmen about the auto market. Of course they will heavily imply that you should buy now. It's their job.

 

[Bartholomew Gallacher]

The Pentagon discovered that the blockchains are not decentralized, vulnerable to attack and running outdated software. Their report "Are Blockchains Decentralized, Unintended Centralities in Distributed Ledgers" uncovered that a subset of participants can exert "excessive and centralized control over the entire blockchain system." Who would have thought that!

According to the report it only takes four entities to disrupt Bitcoin and two to disrupt Ethereum. 60% of all Bitcoin traffic just moves through three ISPs.

Pentagon finds concerning vulnerabilities on blockchain | TechRepublic

A new report reveals that blockchain is neither decentralized nor updated.

www.techrepublic.com

 

[Aribeth Zelin]

The Pentagon discovered that the blockchains are not decentralized, vulnerable to attack and running outdated software. Their report "Are Blockchains Decentralized, Unintended Centralities in Distributed Ledgers" uncovered that a subset of participants can exert "excessive and centralized control over the entire blockchain system." Who would have thought that!

According to the report it only takes four entities to disrupt Bitcoin and two to disrupt Ethereum. 60% of all Bitcoin traffic just moves through three ISPs.

Pentagon finds concerning vulnerabilities on blockchain | TechRepublic

A new report reveals that blockchain is neither decentralized nor updated.

www.techrepublic.com

Shocked, shocked I tell you.

 

[Noodles]

Of course THE MAN would say that. They are afraid of losing control! They just want people to not trust the future!

(/s)

 

[Dakota Tebaldi]

To be clear: the "leak" to which Winklevoss refers here as "super lame", "a low level of consciousness", and "first-time human behavior" and warns that the perpetrator will face bad cosmic karma for doing it, was specifically the information that his crypto company planned to lay off a further 15% of its employees - an action which Winklevoss did not want the to-be-reduced staff to be warned of before it happened.

 

[Dakota Tebaldi]

Very utility

 

[Free]

Analysis: GameStop NFT trading slows in marketplace’s first week

Retailer is earning ~$25K/day on ~$1.1M/day in average trade volume.

arstechnica.com

Is there any way to get a redo on that GameStop short selling thing?

 

[Dakota Tebaldi]

No NFTs in Minecraft

Some companies have recently launched NFT implementations that are associated with Minecraft world files and skin packs. Other examples of how NFTs and blockchain could be utilized with Minecraft include creating Minecraft collectible NFTs, allowing players to earn NFTs through activities performed on a server, or earning Minecraft NFT rewards for activities outside the game.

Each of these uses of NFTs and other blockchain technologies creates digital ownership based on scarcity and exclusion, which does not align with Minecraft values of creative inclusion and playing together. NFTs are not inclusive of all our community and create a scenario of the haves and the have-nots. The speculative pricing and investment mentality around NFTs takes the focus away from playing the game and encourages profiteering, which we think is inconsistent with the long-term joy and success of our players.

 

[Dakota Tebaldi]

 

[Noodles]

That some third part is making NFTs based on random Minecraft icons, unofficially, along with all the previous stolen from DeviantArt NFTs (etc), just does LOADs to lend credibility to all of this.

I mean, what did people think would happen? Lets say Microsoft decided to make Minecraft NFTs. Suddenly all the 3rd party NFTs become "legit?" Like suddenly they have meaning and "value?"

 

[Dakota Tebaldi]

This guy liked to put up bid offers for his own NFTs with trolling politicized names just so he could see the names repeated on social media by automated bid-announcement bots. After putting up one such joke offer for 100 eth, somebody actually bought the NFT from him for 1.9 eth, and then immediately sold the NFT back to him since his 100 eth joke bid was still up and valid.


The pathetic thing though is the plea at the end. This is like Seth Green a couple months ago appealing to the person who bought his stolen ape to just donate it back to him at the guy's own loss I guess, to show "the promise of ape community". But a community that is built on a foundation of proud greed, that meme-ifies taking advantage of others' mistakes and performatively mocking the suckered, is not a community that has your back when you slip up. How can you belong to such a "community" and expect anything different?

 

[Dakota Tebaldi]

 

[Noodles]

The pathetic thing though is the plea at the end. This is like Seth Green a couple months ago appealing to the person who bought his stolen ape to just donate it back to him at the guy's own loss I guess, to show "the promise of ape community". But a community that is built on a foundation of proud greed, that meme-ifies taking advantage of others' mistakes and performatively mocking the suckered, is not a community that has your back when you slip up. How can you belong to such a "community" and expect anything different?

It would be really tempting to send back a gif of just deleting the wallet keys and emptying the recycle bin.

Even if it were faked.

Maybe tack on that Bugs Bunny gif where he says "No" at the end.

 

[Noodles]

I am starting to hate this threat because it clear too many people are making money by ripping people off and getting away with it. But hey, what good are scruples...