Cryptocurrency
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- formed-1
Gary V
Basically, it's the future, but we're in a big bubble now.- Err, should this go under Meta? NFT's? All the same to me....formed
- Gary V is a strong candidate for the "Punches for" threadgrafician
- With all that money why does Gary V not just retire?PhanLo
- Gary V started on third base and acts like he hit a triple.colab
- Wow. There's some hate. Who do you all suggest I watch then? Please no crypto pumpers.formed
- ^ Watch literally anything except cuck fucks like Gary V.babydick
- Eh, he's been pretty spot on. Welcome to watch others, but no interest in random 'gurus' on YouTube that got lucky.formed
- how did we ever do contracts or event tickets before NFT's? shittiest timeline for sure. "Smart Contracts" dammit stop the ride i need to vomitjonny_quest_lives
- Gary Vegetable ... mindblowing that anybody admires clowns like this.neverscared
- I guess this must make Cuban an idiot, too, or anyone that's actually built massive businesses. Moving on....formed
- not really, there are people with enough elegance and smoothnes too.. not gary vegetable though.neverscared
- @formed mate Gary was already rich when he started. Many of these marketing "gurus" were already wealthy when they "started"grafician
- Here's his story https://www.inc.com/…grafician
- Here's (more or less) Cuban's story: https://www.markcuba…grafician
- When you're a millionaire trust me nobody is interested in doing talks and promoting shit - you focus on the money not being a social media stargrafician
- only douche bags focus on "promoting" stuff but actually themselves really, having big big egosgrafician
- < so, no thanks, not taking financial advice from a former wine promoter or marketing "guru" not turned crypto and nfts shillgrafician
- Then I guess Musk, Bezos, Gates, Zuckerberg are all losers, too, eh?formed
- No one has ever argued any of them started out living in a cave. That's not the point (nor the discussion).formed
- and yes, I am well aware of their stories. Again, not the point.formed
- None of them were true 'rags to riches', but none are saying they were and all have built empires, more or less, as well as brands.formed
- PhanLo0
1/4 of the miners rig.
https://twitter.com/jaxson_david…
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- nb0
So what are the climate-conscious coins?
Where can I follow the latest in reducing the environmental impact of crypto
- avoid ethereum.uan
- for the others...just hold them, don't send them around.uan
- stop dreaming, u have to get your hands in bloody like the rest .. cut out the ethic shit... fuck the planet up . dont be such a whiner.neverscared
- It has nothing to do with the coins, it's all about where they get their juice from. If you're mining in Quebec for example it's all hydro.zarkonite
- buddy do you get waste is waste and crypto is waste?grafician
- do you super environmentalists drive cars?uan
- No, not that cars have anything to do with why I’m askingnb
- BuddhaHat3
From a Reddit post: https://www.reddit.com/r/OutOfTh…
Answer:
A number of reasons.
* the non-fungible (un-reproduceable) part of NFTs is usually just a receipt pointing to art hosted elsewhere, meaning it's possible for the art to disappear and the NFT becomes functionally useless, pointing to a 404 — Page Not Found
* some art is generated based off the unique token ID, meaning a given piece of art is tied to the ID within the system. But this art is usually laughably ugly, made by a bot who can generate millions of soulless pieces of art.
* Also, someone could just right click and save a piece of generated art, making the 'non-fungible' part questionable. Remember, the NFT is only a receipt, even if the art it links to is generated off an ID in the receipt.
* however, NFTs are marketed as if they're selling you the art itself, which they're not. This is rightly called out by just about everybody. You can decentralize receipts because those are small and plain-text (inexpensive to log in the blockchain), but that art needs to be hosted somewhere. If the server where art is hosted goes down, your art is gone.
* NFT minters are often art thieves, minting others' work and trying to spin a profit. The anonymous nature of NFTs makes it hard to crack down on, and moderation is poor in NFT communities.
* Artists who get into NFTs with a sincere hope of making money are often hit with a harsh reality that they're losing more money to minting NFTs of their art is making in profit. (Each individual minted art piece costs about $70-$100 USD to mint)
* most huge sales are actually the seller selling it to themselves under a different wallet, to try to grift others into thinking the token is worth more than it is. Wallet IDs are not tied to names and therefore are anonymous enough to encourage drumming up fake hype.
* example: If you mint a piece of art, that art is worth (technically speaking) zero dollars until someone buys it for a price. That price is what the market dictates is the value of your art piece.
* Since you're $70 down already and nobody's buying your art, you get the idea to start a second crypto wallet, and pretend it's someone else. You sell your art piece (which was provably worth zero dollars) to yourself for like $12,000. (Say that's your whole savings account converted into crypto)
* The transaction costs a few more bucks, but then there's a public record of your art piece being traded for $12k. You go on Twitter and claim to all your followers "omg! I'm shaking!!! my art just sold for $12k!!!" (picture of the transaction)
* Your second account then puts the NFT on the market a second time, this time for $14,000. Someone who isn't you makes an offer because they saw your Twitter thread and decided your art piece must be worth at least $12K. Maybe it's worth more!
* Poor stranger is now down $14K. You turned $12k and a piece of art worth $0 into $26K.
* creating artificial scarcity as a design goal, which is very counter to the idea of a free and open web of information. This makes the privatization of the web easier.
* using that artificial scarcity to drive a speculation market (hurts most people except hedge funds, grifters, and the extremely lucky)
* NFTs are driven by hype, making NFT investers/scammers super outspoken and obnoxious. This is why the tone of the conversation around NFTs is so resentful of them, people are sick of being forced to interact with NFT hypebeasts.
* questionable legality — haven for money laundering because crypto is largely unregulated and anonymous
* gamers are angry because game publishers love the idea of using NFTs as a way to squeeze more money out of microtransactions. Buying a digital hat for your character is only worth anything because of artificial scarcity and bragging rights. NFTs bolster both of those
* The computational cost of minting NFTs (and verifying blockchain technology on the whole) is very energy intensive, and until our power grids are run with renewables, this means we're burning more coal, more fossil fuels, so that more grifters can grift artists and investors.Hope this explains. You're correct that the tone is very anti-NFT. Unfortunately the answer is complicated and made of tons of issues. The overall tone you're detecting is a combination of resentment of all these bullet points.
- (the token is non-fungible not the art)sted
- Shit, this should've gone in NFT thread I was not concentrating =\BuddhaHat
- Sounds great! where do I mint my NFTs?shapesalad
- @sted
The NFT is the art.palimpsest - Upvoted ehehehehegrafician
- You don’t even need $12k in your savings account. With a flash loan, you can borrow and repay a huge loan right in the same transaction for a small fee.monNom
- but don't you need crypto collateral for a "flash loan"?grafician
- I would't touch NFTs without having access to an analysis tool like https://www.nansen.a…https://www.youtube.…shapesalad
- AFAIK flash loans are unsecured and connected to a smart contract so they don’t go through if the contract doesn’t settle. Not an expert but thatswhat I heard.monNom
- No collateral required: https://blog.coincod…monNom
- Crypto punk “sold” for $500M used this technique in a wash trade, apparently.monNom
- What this means is there is effectively no price discovery mechanism in NFTs, as anyone can sell to themselves for any amount. (Just like the art market)monNom
- You probably mean the black market, as you need to pay taxes otherwise, not to mention anti-money laundering laws and other protections...grafician
- Not to mention wash trades/sales are illegal but hey, who are we to impose these rules on the crypto brosgrafician
- is there a distinction between the black market and crypto?monNom
- shapesalad3
https://www.nasdaq.com/articles/…
A Comparison Of Bitcoin’s Environmental Impact With That Of Gold And Banking.
Environmentalists take note: Bitcoin consumes/emits less than half of what the gold mining industry does, and less than one-fifth of what bank branches and ATMs do.
- In total yes, per transaction no. Mainstream adoption would mean x100000 current impactdrgs
- manufacturing the tools to run cryptocurrencies is highly energy consuming, involves toxic materials and others like GOLD.sted
- nice try shape u dimwit. proportions of scale in relations above your intellligence.neverscared
- trying every bullshit to keep the bitcoin anti- eco brutality alive.neverscared
- @neverscared i think that's true about the person who wrote that article, can't see why blame shapessted
- Just have a think.shapesalad
- Where did all this trust for banks come from all the sudden? Arent they responsible for all the wars and shit?GuyFawkes
- Crypto will evolve and get better, the banks had enough time fuckin everyone overGuyFawkes
- banks will enter the crypto market...but they will not use a public blockchain. look at china. the only purpose of central banks will be to provide cash...uan
- ...because of the feature of anonymity.
the fight banks vs crypto is just noise to keep us plebs busy during the transition.uan - @drgs they get the BTC figure per transaction by dividing the energy usage estimate by transactions do they not?kingsteven
- if you had 100x on the same sized network, each transaction would be 1% energy usage...kingsteven
- https://www.statista…drgs
- neverscared1
How crypto mining became the oil industry’s new hope
Climate experts warn that plans to repurpose waste gas is not a solution, but more like placing a Band-Aid over a gaping wound
- Hayzilla15
I tell you what I like most about Cryptocurrency!
It seems to have totally taken up all his spare time that graficiain used to use posting shitty gifs in every thread here. Keep it up my man. Crypto 4 Eva!
- This is why crypto is worth millionsnb
- kool story broneverscared
- Nairn1
Tim O'Reilly on 'Web3.0'
- shapesalad1
LOL, HAHA
- GuyFawkes0
Crypto Prices Go Haywire on Coinbase, CoinMarketCap.com
- <ignore that first link, that was part of the titleGuyFawkes
- GuyFawkes5
- Time to get that nice new bedmicrokorg
- QBN HERO OF THE DAYAQUTE
- You know I've always loved you, right?Nairn
- Sell.monospaced
- serious question guy, what if you transferred in in time and there was nothing you can do about it? what would you do with all that money?_niko
- https://www.youtube.…GuyFawkes
- I'd buy an island and throw a big bash for my fellow QBNers. I'd get Simon to invite the girls and I'd get Scarabin to curate the drugs :)_niko
- haha beat me to it_niko
- but seriously, I have no ideaGuyFawkes
- looks like an error. 1000ish XRP at $.80 per does not equal $21 million. sorry to saysarahfailin
- ^^^ 1st thing I would do is hire _niko as the party plannerGuyFawkes
- yeah it was a glitch, I didnt see XRP go up anywhere else after the factGuyFawkes
- you know whats funny is I posted this https://www.qbn.com/… 1st THEN started the 'try to cash in before it disappears' processGuyFawkes
- ^ it shows my love for you guys, but also that I'm an idiot.GuyFawkes
- lol I was thinking the same thing...if you only didn't waste precious time updating QBN, you'd be rich as Bezos!_niko
- and as official party planner, besides the island and girls and drugs, I'd give each member still on here a million bucks._niko
- That's only like $40 million, a good number of accounts here some whale trolls are HODLingGuyFawkes
- We should raise it to 5mil eachGuyFawkes
- Ha, I was thinking there were a 1000 of us, so yeah $1 billion / current active members_niko
- We should stock up on QBN usernames while registrations are still open, do some trolling and when registrations close, those accounts will be worth billionsGuyFawkes
- That's a huge gesture in these difficult times, thank you for financing for kerningman 202%!sted
- fuckforsted
- kerningman, nice!GuyFawkes
- chump changeutopian
- problem with data feed, you are not that rich.shapesalad
- https://twitter.com/… LOLshapesalad
- GuyFawkes0
for about 50 minutes today I had around 22 billion dollars in XRP (maxed at 24 billion), the second I was going to to transfer that shit out of coinbase to another wallet so I convert it to another coin it dropped back down to where it was leaving me with about $900 in XRP.
- I'm still fucking shakingGuyFawkes
- That happened to me once with VET,
$3.5bn- tried to convert it to BTC but then it failed and when back to normal - still yeah quite the buzz while it lasted!_me_ - You thought you'll get away with that shit? Lolbabydick
- no, not really . . ._me_
- At its peak I was “up” $24 TRILLION.5timuli
- like little children... its embarrassing ... so much greed .. wow.neverscared
- BuddhaHat1
https://pressreleases.responseso…
Percentage of crypto investors who used one or more credit facilities to fund purchase, by age
18 - 24: 70%
25 - 34: 64%
35 - 44: 68.9%
45 - 54: 62.5%
55 - 64: 45%
65+: 25%When we break down what kinds of credit facilities people have used to purchase cryptocurrencies, over a
third (35.5%) made their investment using a credit card. Almost a fifth (19.3%) funded the purchase out
of their overdraft.Credit card: 35.5%
Overdraft: 19.3%
Personal loan: 14.6%
Secured loan: 9%
Payday loan: 7.6%
Page 2
Re-mortgage: 3.3%Scary figure for the youngsters borrowing to get into crypto...
- not so scary if they are smart enough to pay off that debt fast with the gains they made.uan
- then everybody wins. Once you have some crypto, you lend it to the crypto banks and you get interests you can use to pay off the cc debt.uan
- ^ that's wishful thinking. Never has there been a bubble where the majority wisely took profits to pay down debt.formed
- in a way the actual crypto system teaches you to value your coins...you see the value grow. like how the banks used to be before the 70ies I was told.uan
- so instead of teaching you a consume mindset like what the cc banks do, you hold them and let the bank invest for you.uan
- they use state of the art investment software and share the growth. (at least till now).
I'm starting to believe it's built in in the algorithm of bitcoin...uan - ...it shifts your mind on the concept of value.uan
- I totally disagree with that (but welcome to read facts to the contrary). What I see is bubbles everywhere - NFT's, etc. People have a false sense of 'wealth'formed
- and are living like that money 'made' is already a done deal, but like stocks, until it's turned into dollars, it's all on paper.formed
- and as Buddha posted, it's insanely leveraged, meaning that when things crash, and they always do, these kids will be not only broke, but massively in debt.formed
- [meant to say "respectfully" disagree :-) ]formed
- :-) I agree on the fairly common false sense of 'wealth'. But the last drop this week, the kids went 'it's a trap'. just wait it out.uan
- as long as the price is low, they stock up more bitcoins and they only make € when they don't lose too much crypto.uan
- Too risky for my blood. I know that if stocks drop 30-40% they'll come back, eventaully. Crypto I don't have that faith. I think if btc dropped 60-70%, whichformed
- it could easily do in a few days, it could race to 0 even faster. I saw the dotcom bubble burst (and felt it). It can happen in the blink of an eye.formed
- Currently, EVERYTHING is priced to perfection, which is just unstainable. BTC has no value beyond speculation. Ethereum I am far more interested in.formed
- shapesalad0
- he was right about Solana...inteliboy
- all in.inteliboy
- incase you're confused it's a parody and means to highlight - do proper research.shapesalad
- /sinteliboy
- but thanks dad.inteliboy
- neverscared4
- "Keep the web free, say no to Web3"
https://yesterweb.or…grafician - "Keep the road free, say no to Model 3"
https://stroy-podska…zaq
- "Keep the web free, say no to Web3"
- AQUTE3
This is the best Christmas ever ... you get to buy all the coins at a discount. I am seriously excited for this wonky winter.
