Your NFTs Are Actually — Finally — Totally Worthless

rolling stone ^ | 9/20/2023 | MILES KLEE

[Vermont Lt]

Those are bitcoin futures, not Trump NFTs.

One has nothing to do with the other.

[DoodleBob]

Blockchain could be of immense value for boring things like the provenance of data flows cross an organization. If finance wants to understand how a division’s P&L was complied, they just as for the key.

Imagine trying to build a statistical model nowadays, with corrupt data and massaged data and outright intentionally-biased data. Data modeler X produces a crap model showing that Bidenomics is good for the poor.

All a skeptical referee needs to do, is ask modeler X for the data provenance and the distributed ledger of the dataset. That’s a bingo!

[canuck_conservative]

sorry, my mistake

that’s why I stay away from this stuff, it’s so complicated!!

[Vermont Lt]

I know. I am pretty sure that stuff is being rolled out all of the world.

And the costs are minimal. And for running distributed inventory and international trade..the responses are immediate and do not involve third parties.

[higgmeister]

Bitcoin is holding up nicely. It’s now regarded as a currency and is traded internationally.

Or so the Germans would have us believe.

[minnesota_bound]

#9 That first photo is of a big hole in the ground. It is worthless unless you fill it with water for a fishing lake.
I would invest in your 2nd set of images.

[VanShuyten]

This one is kind of fun, and your $69 million gets you a nice aluminum and mahogany box with 4 video screens.

https://www.christies.com/en/stories/beeple-gets-real-109fcfeadcfe4067bb06605436cd9841

Scroll down a little to get a sample.

[Jewbacca]

They were to launder money.

And sucker idiots.

[Tell It Right]

Personally I'm skeptical of the intrinsic value of blockchain. Maybe I'm wrong. But to me it's the old distributed encryption with new lipstick. Not saying it has zero worth. Just saying it's not something new and unprecedented -- one would think if it was worth taking off as a good use it would have done so long before we packaged it differently and called it "blockchain".

But then, I can't explain the popularity of Starbucks either. LOL So maybe someone will promote blockchain as a new fad like Starbucks made coffee products seem new and trendy.

[Honest Nigerian]

When theses came out, I never could figure out how they had any value at all, I guess I was right, they don’t
Me too. They seemed utterly ridiculous on its face. I usually tell myself “you could be wrong,” but in this case I said to myself “I don’t care” and didn’t even bother to do more research on this topic.

---

Me too. I remember when “We Work” was getting all the publicity and hype. I thought, “I just don’t understand what has value these days, or how this is even a thing.”
Well, I was vindicated on that.
I had similar doubts about how/why anything of value (real value) could/would be “owned” via a NFT. Along with, “If it seems to good to be true, then it is false.” one should remember, “Don’t invest in things you don’t understand.”

[teeman8r]

everything is only worth what someone else will pay them for it... even gold.

[bk1000]

I have not tried to sell them. There is a value stated on the exchange that I take to be based on offers or recently sold items.

[SunkenCiv]

Apropos of nothing, I've been 100% in cash for over a week.

[GOPJ]

Upon analysis of 73,257 NFT collections, the authors found that 69,795 have a market cap of zero Ether (ETH) The study estimates that some 23 million investors own these tokens of no practical use or value.

Had a friend who collected Disney video tapes - threw them out a few years ago right before they hit collectors 'want lists'... would have been a great investment. That said, his comic book collection is worth more than my home and he skipped the NFT crap.

[Chode]

if i can view a NFT, an identical copy of it is now mine...

i fail to see what value they are purported to possess???

[Behind Liberal Lines]

I think a lot of Freepers just went bankrupt. ;-)

[VanShuyten]

Sorry. The one I posted was only $29 million, not $69 million. My bad.

[catnipman]

“Personally I’m skeptical of the intrinsic value of blockchain. Maybe I’m wrong.”

you’re not wrong ... blockchain has been around for almost two decades [even before the beginning of the crypto con], and big corporations in the last few years have been suckered into spending tens of millions trying to find a use case independent of crypto “coins” ... those projects have pretty much now been abandoned as no use case has been found that can be done better/cheaper/faster by blockchain than currently being done with conventional databases ...

blockchain has pretty much been nothing more than the hook for dressing up the latest con game, namely so-called crypto “coins”, which themselves have none of the properties of an ACTUAL currency, and in fact have zero utility value ...

a couple of good books about all of this lately arr “Number Go Up” and “Easy Money” ...

[unclebankster]

I bought my first group for $88 apiece. I still own them. I would think that a price of $27k 10 years later is a pretty good return.

****************
That was a great buy, it doesn’t get any better.

Well done👍

[Zack Attack]

NFT of Dorsey’s first tweet now worth under $4

https://www.cnbctv18.com/cryptocurrency/jack-dorsey-first-tweet-nft-purchased-for-dollar-3-million-now-worth-less-than-4-17303711.htm