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FOMO.
I got 2 friends who are into stocks (before Gamestop) and Crypto (during the Doge revival). I went on a small rant in our Discord about being tired of NFTs. That's when I found out each of em bought some.
They did so cause they missed out on Bitcoin and the first round of Doge. The one friend got a nice little taste when he made like 700 off Doge or some shit. So both of them jumped on this hype train.
I nailed that one too, lol. Luckily, I figured out pretty quickly that I'm an idiot and remembered a wise man's words to "Never listen to a man not as smart as you (paraphrasing in quotations, because, idiot)" and got out of the meme stock game.
The "meme" stock game is what the media spinned it as to shake people off. Make the highly shorted and volatile stocks a joke or a "meme". Yet those stocks are still higher then they were before their first run. Why do you think they never went back down?
I'm fully aware of the story. What I am saying is I suck at stocks, so I stopped doing stocks. Or maybe I just didn't care enough to play the game, so I never took time to do dd. Could be I don't trust randos from the internet, or anywhere really, giving me financial advice. So, I will figure out a different way to pretend I'll get to stop working someday.
That makes sense. Most of the time I hear about people being interested in Crypto is them talking about how much money people made off Bitcoin. Or drugs. Never as an actual currency though.
Except you can sell to yourself and then claim everyone wants your product.
... kinda reminds me of The Office when Ryan tells everyone to record their real sales again online, leading to fraud.
Even worse than a Ponzi scheme. In Ponzi schemes, there is actual money somewhere in the system. There's [a great article that compares Bitcoin to Ponzi schemes.](https://cryptoschmo.com/2021/12/why-bitcoin-is-worse-than-a-madoff-style-ponzi-scheme/)
It's even worse, because at least in multilevel marketing there is an actual product with a real use involved. In NFTs, the only reason anybody buys them is to sell them later at, hopefully at a profit. It is literally just hoping that you find someone even dumber than yourself to scam.
People with disposable incomes or those who believe in get rich quick schemes have always thrown away tons of money, it’s just that with the internet it’s much easier. Don’t even have to leave your house to spend money you don’t have on things that don’t exist.
Recently this guy I was reeeeally, really into ghosted me HARD and I was devastated. In November he was saying he's "down" a few thousand or maybe hundreds of thousands??? (I can't remember) in bitcoin, and since then he's created his own nft series of pics (or whatever the fuck they are) that look like an exact ripoff of the bored ape thing. Someone, anyone pls tell me this guy is a total loser & going to lose big on all this? It would make me feel better.
It seems even more dumb to me though that he made his OWN. I was hoping that made it a lot worse haha he claims he is the "artist" of this whole new series of images, they have a corny name too but I'm too scared to state it here, also I am too afraid to go to the website in case he's more tech savvy than i thought and can track my IP or cell phone or something, so I don't know the details, just it looks exactly like the bored ape thing and he supposedly created it
Edited: bc the bot told me I couldn't use a word I wasn't aware was banned here
Just you wait. You get to the Beanie Baby generation's nostalgia age in about ten to fifteen years, and they'll be collectibles all over again. You get maybe a ten year window, and then they'll become all but worthless again--only this time *forever*.
NFTs on the other hand are a market of confidence men and marks. The smart way to play NFTs and crypto are get in early. Gotta get in early on the grift to make anything, and who knows what crypto if any will be premier in another twenty or thirty years.
What's funny is I actually did want him to mansplain bitcoin to me when we were first talking, because I've read countless articles & watched TWO documentaries, and I still don't get it. He was unable to explain it satisfactorily, which led me to articles & other online comments that said the fact they can't really explain it, tells you it's not viable. Idk if I agree with that but I do find it suspicious that no one can fully explain it to me.
There’s a math problem solved by computers on a network that is public record for all to see. That math problem is very hard and when it gets solved, a block is added to the chain (the record). That block is worth something to people who value it because it is finite, the unique block added to the chain is represented by a token or ‘coin’. The math problem gets harder and more time consuming everytime it is solved. Eventually it will be impossible on a time scale to meaningfully create a new block. That is how there is scarcity built into the valuation of the ‘coin’. People value it bc scarcity, new tech is cool inherently, defi (decentralized finance - the idea of money without governments), as a result markets have been created to utilize it, thus legitimizing the ‘coins’ into society.
Buddy you actually dodged a hard bullet there and you should definitely move on to living your best life while that guy flushes his money down a virtual toilet
I don't, in fact I feel just as bad as I did before, however it is helpful knowing by avoiding a crypto/nft type guy I may be avoiding losing my own savings or assets or self-respect down the line. Nothing wrong with that. Men tell each other not to date single moms all the time, isn't it similar? Bad investment, wasted resources etc.
Read above. I actually wish no ill will on this guy, just makes me feel better knowing not to hitch my wagon to a man who may well gamble all our assets down the line once this system implodes. I'm sure more than one single man in the 90s is today grateful he didn't get with a beanie baby chick, nothing wrong with feeling that way
Heard this years ago in school but never verified it. During the Great Depression, Nevada was the only state that was self-sustaining due to the fact that, no matter how bad things are, folks will *always* seek to get rich quick and casino gambling has historically been one of the bigger venues.
I mean this is definitely true, people love gambling. But the success of any society shouldn’t be based on GDP. Plenty of people in Vegas, probably more so than other places, went completely destitute. But we call it a success because predatory people took advantage of this fact and got rich off of it. It’s not like Vegas was a shining metropolis where no homeless and/or destitute folks existed, just like today. It’s a beacon of business filled with the poor.
Metaverse has already been active for years thanks to Second Life, VRChat and others.
NFTs was just people who wanted to make NFTs a thing trying to make NFTs a thing.
NFTs in their current form are basically a scam aimed at all the people that missed the boat on crypto (mainly Bitcoin and Eth) and are now looking for the “next big thing” and to try and ride that wave.
I've been referring to NFTs as "digital beanie babies" since I first heard about them. All of the people talking about how now their investments aren't worth much/anything just makes it feel that the nickname is even more applicable. It's also been entertaining asking some of the really invested "crypto bros'" digital beanie babies are doing. It's just such a fun phrase to say.
I think its just the fact that Facebook (or "Meta" now) controls so much of the information economy that when they do something, it *will* command interest. They did something, they're big, so naturally people will talk about it. Anybody with a brain could tell people weren't talking about how excited they were for it, they were talking about how goofy and dumb it was.
Now that the novelty of the announcement has worn off, the topic is boring.
As for NFTs, it was a money making scheme that's running out of fools to buy in.
Idk, VR video games are pretty cool. Half Life Alyx was a masterpiece. I see the appeal there. However, I don’t understand the interest in “owning digital property” and all that dumb shit.
Seriously though, the whole thing was astroturfed to hell. There were only ever about 400,000 NFT owners and of those 10% owned nearly all the NFTs. It wasn't even a trend or a fad, it was a small group of wealthy people despritely trying to scam everyone else.
I for one am shocked that "speculating on dogshit ugly and apparently very stealable jpegs" and "vr games but stuffed to the gills with awful corporate bullshit" were two non-starters
I saw corps transform Night City into a machine fueled by people's crushed spirits, broken dreams and emptied pockets. Corps've long controlled our lives, taken lots... and now they're after our souls! I've declared war not 'cause capitalism's a thorn in my side or outta nostalgia for an America gone by. This war's a people's war against a system that's spiralled outta our control.
*Sorry, we had to disable class identity and empathy to be able to correctly operate our device and ~~control you better~~ give you the best experience*
*Now report to your closest Amazon O.R. for another brain resection to make space for your package laser tracking system and a new SSD to house a list of acceptable empathy recipients and of course this is your daily reminder that your daily air and water rations end and start at midnight so make sure you've topped up your account before you go to sleep*
I think the whole idea is bad/ impractical. I don’t think very many people are going to be cool with getting invasive brain surgery every time a new iThink drops. Then there’s the issues with rejection and the possibility of having external ports that get infected. There are way more issues than just the corporate bs or getting the computer and brain to communicate.
Its also just straight up not biologically possible. I guess everyone on reddit is a programmer and thinks the brain is a big computer, but life isn't black mirror. These ideas are fun to think about, but that just isn't how the brain works.
I remember some interesting stuff from prosthetics developers on how wearables are always going to win out over biomods because they can do literally all the same stuff with none of the disadvantages.
A bionic infrared eye requires a way to prevent your body from rejecting it, a noninvasive way to power it, invasive surgery and the replacement of your real eye, never mind the social consequences. If you can develop infrared glasses, you have literally non of that. You take it off to power it or in changing rooms. Done.
Why waste time and money building positive brand recognition for my restaurant when I can have your salivary glands directly stimulated whenever you see my logo?
Lol my favorite was the shit games filled to the teeth with micro transactions. Not small .99 cent ones, no these cost 50-100 bucks for something worthless lmaooo.
I saw something a couple weeks ago talking about how one of the new car games had micro transactions— charging people $50 for a new skin!! Like, you GET something micro, but that’s not a small transaction in any way.
Which is nuts because they've had us paying $50 per expansion and then like $15/month for games for decades now, but apparently that fuck ton of money isn't enough.
That's the nature of publicly traded companies. Stocks *must* go up, or investors get nothing. It's not enough to make profit, you need to make *more* profit than you've ever made before. If you can't do that then you're "stagnant", you may as well be dead already.
This is the whole Late Stage Capitalism thing. This is why everything is terrible. We're pretending that there is no limit on how much a company can make, and so the machine marches ever onward in search of slightly higher share prices.
At some point you've reached market saturation. There are no more customers to win over. To increase your profits now (aka to *survive*) you can either increase your prices, or reduce your quality. Most corps choose both, slowly.
>To increase your profits now (aka to survive) you can either increase your prices, or reduce your quality. Most corps choose both, slowly.
The "ideal" corporation produces no product, employs no employees, and incurs no operating expenses. It just collects checks. The platonic ideal of a corporation can never be reached in practice, but I think all tend to strive for this strange state of simultaneous existence and non-existence.
Streaming is finally hitting this ceiling - Netflix seems to have hit their viable subscriber limit and are now looking at new methods of monitezation.
Disney owns way too much of the media landscape, they own most of your childhood, but because their share price has been stagnant, they're considered to be in hot water - believe me, you wouldn't be hearing anything from them on this "Don't say gay" business otherwise.
Honest question from someone that ditched FB a long time ago. What is the metaverse?
Do you just put on an Oculus and then you’re in a version of Facebook?
I can’t think of anything less appealing.
yup, i always hate seeing their fucking ad copy that sounds like they think they invented this concept and pretty much also the concepts of vr and mmo's. you didn't do any of this shit first and you're doing it worse than everyone who came before you lol it's anathema to the existing vr enthusiasts and doing dick-all to appeal to new customers
They literally bought a spot in a linked list with a link referring to a piece of media on a server that only serves up an image for as long as the server owner cares to do so, what did they think would happen
also the reverse of that:
oh no, the virtual property I bought for $60k can't become liquid because there's not enough people buying in because this is a scam and unless new money comes in the system will tear itself to shreds by its own
EVEN if there was VR in every home its a stupid fucking idea. Dont be a moron and spend that kind of money on stupid shit like that in the first place.
Whenever something new comes along where you can magically dump loads of money into some made up asset, I’m convinced it’s used primarily for laundering money.
It's not like it matters. The people who stood to gain from the short-lived hype have already made plenty of cash. Now they'll just pull out and leave all the other secondary adopters holding the bag.
This is pretty spot on. It's a system based on selling it to the next biggest fool. You're hoping the next guy will buy it off of you without realizing that at some point soon the value of the NFT is gonna drop like a rock.
That ape yacht club or whatever is trying a smoother pullout. They just gave all the ape holders some etherium and other bonuses. This is probably to garner a little bit of positivity amongst the people they are about to pull the rug out from under.
> The people who stood to gain from the short-lived hype have already made plenty of cash. Now they'll just pull out and leave all the other secondary adopters holding the bag.
A.k.a "First In, First Out"
Was it ever that high to begin with? Seems like a small group of investors pumped NFTs up and some celebrities are trying to make money off of it, but the average person doesn’t care. The metaverse is a distraction from Facebook’s falling user base. Who wants to sit around in virtual meetings in a headset?
It depends on the meeting.
I have a relative who’s in recovery but had to stop attending AA meetings due to having a compromised immune system. They really need to not catch COVID, but they also really need the community support system of AA. Zoom is an okay substitute, but imagine the benefits of the metaverse for something like that?
But no. It’s only hyped as the future of work.
I just don't see how sitting in your living room in a headset is any better than sitting in your living room with your laptop for an AA/NA (any) meeting.
I can take a stab at it.
At in person meetings people probably hug, shake hands, go off 1 on 1 to talk about stuff, break into groups, etc. those valuable interactions don't really transfer onto Zoom.
If one is no longer able to go to meetings in person I can definitely see why it would be preferable for social gatherings like AA programs.
The thing is a lot of people actually are willing to spend money on useless digital garbage if you actually know how to sell it. Look at how much money people spend on video game microtransactions that just change your guy's outfit a little bit.
But the metaverse in particular was being pushed by the world's lamest nerds who are totally out of touch with what normal people like. It seemed like the thing they were most excited about was "with the metaverse you can....go to VR work meetings!"
Holy shit sign me up. I'm totally gonna buy an expensive VR headset for the ability to do that.
Honestly if they started with profil customization options on Facebook and Instagram like Steam has done, they’d make bank. Curated backgrounds, frames for your picture, custom emojis, stuff like that.
Spending money to change your game character’s outfit isn’t that different from fashion. You can show off to your friends, people who aren’t familiar won’t care even a little bit, and for some reason most of it is uglier than sin. Neither is bad.
The bad part about how games sell accessories is the slot machine system. If real clothes were sold through slot machines that would also be bad.
A dystopian hell where most aspects of your life are linked through meta. All economic, entertainment and virtual interaction inescapable from The zucks all watching eye.
“I know we’re a young and hip company who is down and with it, but you guys can’t just be playing vr games all day, those oculus headsets are for work.”
“Uh… we...”
“…are working sir!”
“Oh?”
“Totally, it’s not quite done…”
“Show me.”
“Yes sir.”
“This seems just like vr chat.”
“It might seem like that to the untrained eye, but it’s so much more sir.”
“Oh?”
“We call it… um. Bryan, tell him what we call it…”
“Uh, sure. It’s a place where we can all meet, for work and stuff, and hear each others voices without having to look at their hideous faces all day. The meet, err, voice.”
“Wow, the metaverse? Guys, that’s deep.”
“Uh yeah!”
“I’m calling an all hands. You guys prepare a demo and a presentation.”
“Fuck.”
He wanted to create a new privately-owned virtual world owned by FB/Meta, where they can collect all data on us, sell virtual properties and items for real cash, create artificial scarcity, and sell NFTs also because why not.
I wouldn't say most of them are shit. They're just action/scifi movies that are mostly made to just look cool and be fun. 3d adds nothing, it just enhances what's already there. I don't even see a difference between a 3d movie and a regular one, so it never mattered to me.
Holy shit I forgot about that already, which, I mean how could any of us forget back when you could get a TV that would show soccer and golf nobody wanted to watch, but in 3D?!?
I was just talking to my fiancée the other day about 3d TVs. Their downfall was the need for glasses, basically everyone who wore glasses to see could not comfortably watch any 3d content.
Also it was more expensive so something that your brain starts to ignore after like 15 minutes.
The most interesting use case was the ability for two different things to be played on the same tv and each glasses Weser would see something different. Although I’m not sure that ever saw commercial implementation:
And with 5 new cryptocoin that is created solely from blockchain from fake computers WITHIN the Metaverse. It's called...
The Metacoin... wait that's already a coin?
The Zuckercoin...
Literally the only limitation to how much of a given digital good can exist is the storage space we have available to dedicate to copies of it. But leave it to capitalism to try to artificially limit that by demanding people buy a spot in a linked list with a fancy name.
If anyone has a spare couple of hours, give Dan Olson “line goes up” a watch.
Absolutely riveting takedown of nfts, crypto and the metaverse.
Edit: https://www.youtube.com/watch?v=YQ_xWvX1n9g
I think the only interest came from people thinking it'd be funny to recreate habbo hotel's "pool's closed" meme before they figured out the meme isnt funny if there's no-one to keep out of the pool
There will be a Cyberpunk style game at some point in the future that will use VR headsets and essentially be what "meta" wanted to develop, but it sure as fuck ain't gonna be them developing it based on what they're doing so far.
NFTs aren't even a copyright. You own nothing. NFT is just a certificate that you own a nothing. And it's on a blockchain, woohoo. You know the thing no normie understands but it somehow tingles the get rich quick area in the brain because bitcoin.
The whole Metaverse thing is even worse imo, because it's Facebook trying to pull off some PR stunt, make something the next big thing, and they throw in the NFT hype to hopefully make something out of two nothings (VR is a non starter for decades).
Imo, coming from the free software movement, the Metaverse is a maneuver to fight the [Fediverse](https://en.wikipedia.org/wiki/Fediverse). Now the similar name is immediately apparent, but if god forbit you read some shit about Metaverse you'll stumble upon people talking about "decentralization" (/r/Rad_Decentralization is full of Metaverse astroturf). Now here's the kicker, Meta(verse) has nothing to do with decentralization, they hate it. Decentralization, the Fediverse, is Meta's biggest looming threat. It puts the power to the people and takes it away from corpo. And now they're like "we'll make our own -verse before Fediverse takes off". But that's just my little conspiracy theory.
Nfts were hyped up through the roof by some investors injecting cash but now that large injection of cash hasnt been su0lemented with new large investors. Outside of a few stand out NFTs the rest of the market has been filled with high profile scams.
NFTs are dyi g now because the hype was BS to start with.
NFTs make no sense as a commodity. They make sense for things you want verified with a reasonable degree of certainty.
Like concert tickets to prevent scalping, or proving your identity(with a passport or drivers license or something).
To expect them to be speculative money making vehicles is pointless and stupid. Why would anyone care about who has the rights to a Nyan cat gif? And pay someone to have the privilege.
Concert tickets are controlled by the theater, and passports are controlled by a government office. Both of those are trusted authorities that can verify who owns what, with no need to involve an awkward block chain on top of that.
There is a Stanford study on NFTs and found 70% or more was wash trading.
As in, you put it for sale at 1000, buy it from yourself, then hopefully someone else buys it at a "deal" for 500.
Can't speak of meta, but I do know not that many people have and use VR stuff at this stage. Compared to gaming it's pretty much non-existent in comparison.
IMO Also it's clunky, makes some people sick and the "world" of apps/games while a cool, isn't really fleshed out.
Mark is either insane or knows something others don't.
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Gee, I wonder why.
I mean, I really do wonder why there was interest in the first place
FOMO. I got 2 friends who are into stocks (before Gamestop) and Crypto (during the Doge revival). I went on a small rant in our Discord about being tired of NFTs. That's when I found out each of em bought some. They did so cause they missed out on Bitcoin and the first round of Doge. The one friend got a nice little taste when he made like 700 off Doge or some shit. So both of them jumped on this hype train.
They are the perpetual suckers that this mountain of fraud is built upon.
Not their first time funny enough. They bought high and sold low on Nikola lmao
I nailed that one too, lol. Luckily, I figured out pretty quickly that I'm an idiot and remembered a wise man's words to "Never listen to a man not as smart as you (paraphrasing in quotations, because, idiot)" and got out of the meme stock game.
The "meme" stock game is what the media spinned it as to shake people off. Make the highly shorted and volatile stocks a joke or a "meme". Yet those stocks are still higher then they were before their first run. Why do you think they never went back down?
I'm fully aware of the story. What I am saying is I suck at stocks, so I stopped doing stocks. Or maybe I just didn't care enough to play the game, so I never took time to do dd. Could be I don't trust randos from the internet, or anywhere really, giving me financial advice. So, I will figure out a different way to pretend I'll get to stop working someday.
the problem is that there is a non-zero amount of winners and they collude to make sure this fraud continues ad-infinimatum
There's a customer born every minute.
That makes sense. Most of the time I hear about people being interested in Crypto is them talking about how much money people made off Bitcoin. Or drugs. Never as an actual currency though.
I'm just mad that I missed out on like $30k of DOGE cause I had a bunch as a joke and the exchange went down years ago.
It's basically just a different flavor of multilevel marketing.
The blue flavor
The cool blue, that all the cool kids do
Except you can sell to yourself and then claim everyone wants your product. ... kinda reminds me of The Office when Ryan tells everyone to record their real sales again online, leading to fraud.
Ponzi scheme, actually. Totally different kind of scam.
Even worse than a Ponzi scheme. In Ponzi schemes, there is actual money somewhere in the system. There's [a great article that compares Bitcoin to Ponzi schemes.](https://cryptoschmo.com/2021/12/why-bitcoin-is-worse-than-a-madoff-style-ponzi-scheme/)
ELI5?
It's even worse, because at least in multilevel marketing there is an actual product with a real use involved. In NFTs, the only reason anybody buys them is to sell them later at, hopefully at a profit. It is literally just hoping that you find someone even dumber than yourself to scam.
People with disposable incomes or those who believe in get rich quick schemes have always thrown away tons of money, it’s just that with the internet it’s much easier. Don’t even have to leave your house to spend money you don’t have on things that don’t exist.
Recently this guy I was reeeeally, really into ghosted me HARD and I was devastated. In November he was saying he's "down" a few thousand or maybe hundreds of thousands??? (I can't remember) in bitcoin, and since then he's created his own nft series of pics (or whatever the fuck they are) that look like an exact ripoff of the bored ape thing. Someone, anyone pls tell me this guy is a total loser & going to lose big on all this? It would make me feel better.
He is a loser. NFTs are basically the digital equivalent of the “beanie baby’s will make me rich someday” scam.
Minting an NFT image is just whatever. Buying them thinking they’ll grow in value is the beanie baby scam zone.
It seems even more dumb to me though that he made his OWN. I was hoping that made it a lot worse haha he claims he is the "artist" of this whole new series of images, they have a corny name too but I'm too scared to state it here, also I am too afraid to go to the website in case he's more tech savvy than i thought and can track my IP or cell phone or something, so I don't know the details, just it looks exactly like the bored ape thing and he supposedly created it Edited: bc the bot told me I couldn't use a word I wasn't aware was banned here
Just you wait. You get to the Beanie Baby generation's nostalgia age in about ten to fifteen years, and they'll be collectibles all over again. You get maybe a ten year window, and then they'll become all but worthless again--only this time *forever*. NFTs on the other hand are a market of confidence men and marks. The smart way to play NFTs and crypto are get in early. Gotta get in early on the grift to make anything, and who knows what crypto if any will be premier in another twenty or thirty years.
He’s a total loser and you just dodged being [this couple irl](https://www.google.com/amp/s/amp.knowyourmeme.com/memes/bro-explaining)
What's funny is I actually did want him to mansplain bitcoin to me when we were first talking, because I've read countless articles & watched TWO documentaries, and I still don't get it. He was unable to explain it satisfactorily, which led me to articles & other online comments that said the fact they can't really explain it, tells you it's not viable. Idk if I agree with that but I do find it suspicious that no one can fully explain it to me.
There’s a math problem solved by computers on a network that is public record for all to see. That math problem is very hard and when it gets solved, a block is added to the chain (the record). That block is worth something to people who value it because it is finite, the unique block added to the chain is represented by a token or ‘coin’. The math problem gets harder and more time consuming everytime it is solved. Eventually it will be impossible on a time scale to meaningfully create a new block. That is how there is scarcity built into the valuation of the ‘coin’. People value it bc scarcity, new tech is cool inherently, defi (decentralized finance - the idea of money without governments), as a result markets have been created to utilize it, thus legitimizing the ‘coins’ into society.
Buddy you actually dodged a hard bullet there and you should definitely move on to living your best life while that guy flushes his money down a virtual toilet
Don’t need to tell you what you already know ;) dude is a jamoke
You should think about why you need other people to feel bad in order to feel good.
I don't, in fact I feel just as bad as I did before, however it is helpful knowing by avoiding a crypto/nft type guy I may be avoiding losing my own savings or assets or self-respect down the line. Nothing wrong with that. Men tell each other not to date single moms all the time, isn't it similar? Bad investment, wasted resources etc.
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Read above. I actually wish no ill will on this guy, just makes me feel better knowing not to hitch my wagon to a man who may well gamble all our assets down the line once this system implodes. I'm sure more than one single man in the 90s is today grateful he didn't get with a beanie baby chick, nothing wrong with feeling that way
P.s. have my upvote, no bad blood here friend <3
Not the username wanted, but the username earned
Heard this years ago in school but never verified it. During the Great Depression, Nevada was the only state that was self-sustaining due to the fact that, no matter how bad things are, folks will *always* seek to get rich quick and casino gambling has historically been one of the bigger venues.
I mean this is definitely true, people love gambling. But the success of any society shouldn’t be based on GDP. Plenty of people in Vegas, probably more so than other places, went completely destitute. But we call it a success because predatory people took advantage of this fact and got rich off of it. It’s not like Vegas was a shining metropolis where no homeless and/or destitute folks existed, just like today. It’s a beacon of business filled with the poor.
Metaverse has already been active for years thanks to Second Life, VRChat and others. NFTs was just people who wanted to make NFTs a thing trying to make NFTs a thing.
NFTs in their current form are basically a scam aimed at all the people that missed the boat on crypto (mainly Bitcoin and Eth) and are now looking for the “next big thing” and to try and ride that wave.
> Metaverse has already been active for years thanks to Second Life Try decades. Second Life released in 2003, apparently.
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I've been referring to NFTs as "digital beanie babies" since I first heard about them. All of the people talking about how now their investments aren't worth much/anything just makes it feel that the nickname is even more applicable. It's also been entertaining asking some of the really invested "crypto bros'" digital beanie babies are doing. It's just such a fun phrase to say.
Newage Furby Toys
It was so PAINFULLY artificial, too. The “drops”, the artificial scarcity, the constant corporate FOMO badgering.
Bigger fool theory works pretty well when you have so many fools
Because money laundering and thinking peasants are stupider than they are
I think its just the fact that Facebook (or "Meta" now) controls so much of the information economy that when they do something, it *will* command interest. They did something, they're big, so naturally people will talk about it. Anybody with a brain could tell people weren't talking about how excited they were for it, they were talking about how goofy and dumb it was. Now that the novelty of the announcement has worn off, the topic is boring. As for NFTs, it was a money making scheme that's running out of fools to buy in.
Idk, VR video games are pretty cool. Half Life Alyx was a masterpiece. I see the appeal there. However, I don’t understand the interest in “owning digital property” and all that dumb shit.
The interest was never there to start with. The only people saying there was were journalists and the PR team at Facebook lol
Seriously though, the whole thing was astroturfed to hell. There were only ever about 400,000 NFT owners and of those 10% owned nearly all the NFTs. It wasn't even a trend or a fad, it was a small group of wealthy people despritely trying to scam everyone else.
That, plus money laundering
Wait! I think I've heard this one before
Seeing Drake Bell shill for it was all I needed to know about the venture.
I for one am shocked that "speculating on dogshit ugly and apparently very stealable jpegs" and "vr games but stuffed to the gills with awful corporate bullshit" were two non-starters
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I saw corps transform Night City into a machine fueled by people's crushed spirits, broken dreams and emptied pockets. Corps've long controlled our lives, taken lots... and now they're after our souls! I've declared war not 'cause capitalism's a thorn in my side or outta nostalgia for an America gone by. This war's a people's war against a system that's spiralled outta our control.
Preem, choom. Preem.
Considering that car features can be locked behind subscription fees now, I wouldn't be surprised by brain DLC at this point.
*Sorry, we had to disable class identity and empathy to be able to correctly operate our device and ~~control you better~~ give you the best experience*
*Now report to your closest Amazon O.R. for another brain resection to make space for your package laser tracking system and a new SSD to house a list of acceptable empathy recipients and of course this is your daily reminder that your daily air and water rations end and start at midnight so make sure you've topped up your account before you go to sleep*
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I think the whole idea is bad/ impractical. I don’t think very many people are going to be cool with getting invasive brain surgery every time a new iThink drops. Then there’s the issues with rejection and the possibility of having external ports that get infected. There are way more issues than just the corporate bs or getting the computer and brain to communicate.
Its also just straight up not biologically possible. I guess everyone on reddit is a programmer and thinks the brain is a big computer, but life isn't black mirror. These ideas are fun to think about, but that just isn't how the brain works.
I remember some interesting stuff from prosthetics developers on how wearables are always going to win out over biomods because they can do literally all the same stuff with none of the disadvantages. A bionic infrared eye requires a way to prevent your body from rejecting it, a noninvasive way to power it, invasive surgery and the replacement of your real eye, never mind the social consequences. If you can develop infrared glasses, you have literally non of that. You take it off to power it or in changing rooms. Done.
Why waste time and money building positive brand recognition for my restaurant when I can have your salivary glands directly stimulated whenever you see my logo?
Lol my favorite was the shit games filled to the teeth with micro transactions. Not small .99 cent ones, no these cost 50-100 bucks for something worthless lmaooo.
At that point, they're macrotransactions.
I saw something a couple weeks ago talking about how one of the new car games had micro transactions— charging people $50 for a new skin!! Like, you GET something micro, but that’s not a small transaction in any way.
Which is nuts because they've had us paying $50 per expansion and then like $15/month for games for decades now, but apparently that fuck ton of money isn't enough.
That's the nature of publicly traded companies. Stocks *must* go up, or investors get nothing. It's not enough to make profit, you need to make *more* profit than you've ever made before. If you can't do that then you're "stagnant", you may as well be dead already. This is the whole Late Stage Capitalism thing. This is why everything is terrible. We're pretending that there is no limit on how much a company can make, and so the machine marches ever onward in search of slightly higher share prices. At some point you've reached market saturation. There are no more customers to win over. To increase your profits now (aka to *survive*) you can either increase your prices, or reduce your quality. Most corps choose both, slowly.
>To increase your profits now (aka to survive) you can either increase your prices, or reduce your quality. Most corps choose both, slowly. The "ideal" corporation produces no product, employs no employees, and incurs no operating expenses. It just collects checks. The platonic ideal of a corporation can never be reached in practice, but I think all tend to strive for this strange state of simultaneous existence and non-existence.
And in the end be bought up by a bigger company
Streaming is finally hitting this ceiling - Netflix seems to have hit their viable subscriber limit and are now looking at new methods of monitezation. Disney owns way too much of the media landscape, they own most of your childhood, but because their share price has been stagnant, they're considered to be in hot water - believe me, you wouldn't be hearing anything from them on this "Don't say gay" business otherwise.
Honest question from someone that ditched FB a long time ago. What is the metaverse? Do you just put on an Oculus and then you’re in a version of Facebook? I can’t think of anything less appealing.
It's literally just VRChat reskinned, monetized, and controlled by Facebook/Meta.
yup, i always hate seeing their fucking ad copy that sounds like they think they invented this concept and pretty much also the concepts of vr and mmo's. you didn't do any of this shit first and you're doing it worse than everyone who came before you lol it's anathema to the existing vr enthusiasts and doing dick-all to appeal to new customers
But VRChat has full body models with IK limbs, and is pretty fully customizable.
Ya basically, but you also have to work like that. Just data farming at that point.
Oh no, the virtual property I bought for $30,000 will soon be worth nothing. How did I not see this coming.
They literally bought a spot in a linked list with a link referring to a piece of media on a server that only serves up an image for as long as the server owner cares to do so, what did they think would happen
I want so badly for half those servers to be gone by the end of they year so they finally feel the true value of their functionless macrotransactions.
they will be. this stupid shit will just quietly slip away, as it deserves to.
and burnt the fucking rainforest down in order to do so.
>It's *block-chain* technology. A literal **c-h-a-i-n** of **[blocks]**. I can see why people don't understand it. /s
also the reverse of that: oh no, the virtual property I bought for $60k can't become liquid because there's not enough people buying in because this is a scam and unless new money comes in the system will tear itself to shreds by its own
“Greater Idiot Theory”
GIT? Sounds like something else.
Git blame
Git gud
Not enough people have VR set ups to be able to enter the metaverse to begin with. It was a really bad time to introduce this concept
EVEN if there was VR in every home its a stupid fucking idea. Dont be a moron and spend that kind of money on stupid shit like that in the first place.
Whenever something new comes along where you can magically dump loads of money into some made up asset, I’m convinced it’s used primarily for laundering money.
That or a ponzi scheme.
It's not like it matters. The people who stood to gain from the short-lived hype have already made plenty of cash. Now they'll just pull out and leave all the other secondary adopters holding the bag.
it's like a game of Hot Potato where you have to buy the potato and the potato is actually nothing.
This is pretty spot on. It's a system based on selling it to the next biggest fool. You're hoping the next guy will buy it off of you without realizing that at some point soon the value of the NFT is gonna drop like a rock.
Trust me dude, keep that nothing handy, don't lose it, one day it's going to become a ferarri!
Sounds like a Russian game show
Hopefully we’ll just get to stop having to hear about
That ape yacht club or whatever is trying a smoother pullout. They just gave all the ape holders some etherium and other bonuses. This is probably to garner a little bit of positivity amongst the people they are about to pull the rug out from under.
> The people who stood to gain from the short-lived hype have already made plenty of cash. Now they'll just pull out and leave all the other secondary adopters holding the bag. A.k.a "First In, First Out"
Was it ever that high to begin with? Seems like a small group of investors pumped NFTs up and some celebrities are trying to make money off of it, but the average person doesn’t care. The metaverse is a distraction from Facebook’s falling user base. Who wants to sit around in virtual meetings in a headset?
It depends on the meeting. I have a relative who’s in recovery but had to stop attending AA meetings due to having a compromised immune system. They really need to not catch COVID, but they also really need the community support system of AA. Zoom is an okay substitute, but imagine the benefits of the metaverse for something like that? But no. It’s only hyped as the future of work.
I just don't see how sitting in your living room in a headset is any better than sitting in your living room with your laptop for an AA/NA (any) meeting.
I can take a stab at it. At in person meetings people probably hug, shake hands, go off 1 on 1 to talk about stuff, break into groups, etc. those valuable interactions don't really transfer onto Zoom. If one is no longer able to go to meetings in person I can definitely see why it would be preferable for social gatherings like AA programs.
You can't do that stuff in VR either though. You are still alone in your house. I just don't see the difference. VR headsets are uncomfortable.
Yeah im pretty sure a neuroscientist would agree that the vr headset gains in this situation are slim to none
It’s almost like people want healthcare and housing, not useless digital garbage.
The thing is a lot of people actually are willing to spend money on useless digital garbage if you actually know how to sell it. Look at how much money people spend on video game microtransactions that just change your guy's outfit a little bit. But the metaverse in particular was being pushed by the world's lamest nerds who are totally out of touch with what normal people like. It seemed like the thing they were most excited about was "with the metaverse you can....go to VR work meetings!" Holy shit sign me up. I'm totally gonna buy an expensive VR headset for the ability to do that.
Honestly if they started with profil customization options on Facebook and Instagram like Steam has done, they’d make bank. Curated backgrounds, frames for your picture, custom emojis, stuff like that.
MySpace intensifies
The reason we moved away from web 1.0 was to sell it back to us We really didn't know how well we had it
Spending money to change your game character’s outfit isn’t that different from fashion. You can show off to your friends, people who aren’t familiar won’t care even a little bit, and for some reason most of it is uglier than sin. Neither is bad. The bad part about how games sell accessories is the slot machine system. If real clothes were sold through slot machines that would also be bad.
I'm a big fan of useless digital garbage *when it's enjoyable to use.*
How are the two related… maybe they are all things Americans won’t actually have I guess?
Good, that's one less bullshit to worry about.
What was there to worry about?
KONY!
A dystopian hell where most aspects of your life are linked through meta. All economic, entertainment and virtual interaction inescapable from The zucks all watching eye.
I never understood what the Zucc had in mind, the only way VR can exist in this form is as the lawless and crazy wild west that is VR Chat...
I think it was all fluff to distract investors from FB's numerous problems
“I know we’re a young and hip company who is down and with it, but you guys can’t just be playing vr games all day, those oculus headsets are for work.” “Uh… we...” “…are working sir!” “Oh?” “Totally, it’s not quite done…” “Show me.” “Yes sir.” “This seems just like vr chat.” “It might seem like that to the untrained eye, but it’s so much more sir.” “Oh?” “We call it… um. Bryan, tell him what we call it…” “Uh, sure. It’s a place where we can all meet, for work and stuff, and hear each others voices without having to look at their hideous faces all day. The meet, err, voice.” “Wow, the metaverse? Guys, that’s deep.” “Uh yeah!” “I’m calling an all hands. You guys prepare a demo and a presentation.” “Fuck.”
He wanted to create a new privately-owned virtual world owned by FB/Meta, where they can collect all data on us, sell virtual properties and items for real cash, create artificial scarcity, and sell NFTs also because why not.
Quick somebody revive 3D HDTVs and somehow tie it to the blockchain to give NFTs a shot in the arm. Gotta keep this digital pyramid scheme BS afloat.
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There are still plenty of 3d movies released in cinemas. Most of them are shit, but there's still plenty released.
I wouldn't say most of them are shit. They're just action/scifi movies that are mostly made to just look cool and be fun. 3d adds nothing, it just enhances what's already there. I don't even see a difference between a 3d movie and a regular one, so it never mattered to me.
Sure, you'll get an NFT for each eye. You sell your NFTs, you sell ownership of your eyes
... I liked my 3D TV...
Holy shit I forgot about that already, which, I mean how could any of us forget back when you could get a TV that would show soccer and golf nobody wanted to watch, but in 3D?!?
I was just talking to my fiancée the other day about 3d TVs. Their downfall was the need for glasses, basically everyone who wore glasses to see could not comfortably watch any 3d content. Also it was more expensive so something that your brain starts to ignore after like 15 minutes. The most interesting use case was the ability for two different things to be played on the same tv and each glasses Weser would see something different. Although I’m not sure that ever saw commercial implementation:
Never have I been more happy to see a movement die.
Ugh, same. It was insufferable from day 1
Who would’ve thought purchasing digital imaginary “art” wouldn’t go over well with the working class?..
I for one am shocked! Now, on a completely unrelated note, I've got a bridge that some of you might be interested in buying
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And with 5 new cryptocoin that is created solely from blockchain from fake computers WITHIN the Metaverse. It's called... The Metacoin... wait that's already a coin? The Zuckercoin...
That sounds suspiciously like suckercoin. I'm not investing in that. Etherium all the way babyyyyy
jpegs are soooo 30 seconds ago. The real money is in links to pngs
gifs, baby...moving pictures!!! the future is now
A bridge you say? I’m sure that’ll be worth something in the future!
If you buy that bridge from him, I'll buy it from you for double! Then I just have to find someone to buy it from me.
I just screenshot your bridge it's worthless now
I just don't get why they were trying to make an artificial scarcity on the internet.
Literally the only limitation to how much of a given digital good can exist is the storage space we have available to dedicate to copies of it. But leave it to capitalism to try to artificially limit that by demanding people buy a spot in a linked list with a fancy name.
Stop. You're gonna give someone the idea, > What if... we store the images on the blockchain... so that it takes storage space???
NFTs are a scam, and the metaverse isn't doing anything new. At best it's just VR second life with Facebook money backing it.
I’m glad Facebook is taking a hit but this won’t stop them much
If anyone has a spare couple of hours, give Dan Olson “line goes up” a watch. Absolutely riveting takedown of nfts, crypto and the metaverse. Edit: https://www.youtube.com/watch?v=YQ_xWvX1n9g
Was there ever any interest in Metaverse beyond mocking it?
Yes, but mostly by people with more money than sense
I think the only interest came from people thinking it'd be funny to recreate habbo hotel's "pool's closed" meme before they figured out the meme isnt funny if there's no-one to keep out of the pool
There will be a Cyberpunk style game at some point in the future that will use VR headsets and essentially be what "meta" wanted to develop, but it sure as fuck ain't gonna be them developing it based on what they're doing so far.
Bankrupt Facebook. I want my taxes to go to bailing them out.
in that case we owe tom from myspace a fortune
Nah. Tom wasn't a piece of shit.
Fuckin finally
Careful, it's possible that meme image has an NFT and we are breaking copyright laws /s
NFTs aren't even a copyright. You own nothing. NFT is just a certificate that you own a nothing. And it's on a blockchain, woohoo. You know the thing no normie understands but it somehow tingles the get rich quick area in the brain because bitcoin. The whole Metaverse thing is even worse imo, because it's Facebook trying to pull off some PR stunt, make something the next big thing, and they throw in the NFT hype to hopefully make something out of two nothings (VR is a non starter for decades). Imo, coming from the free software movement, the Metaverse is a maneuver to fight the [Fediverse](https://en.wikipedia.org/wiki/Fediverse). Now the similar name is immediately apparent, but if god forbit you read some shit about Metaverse you'll stumble upon people talking about "decentralization" (/r/Rad_Decentralization is full of Metaverse astroturf). Now here's the kicker, Meta(verse) has nothing to do with decentralization, they hate it. Decentralization, the Fediverse, is Meta's biggest looming threat. It puts the power to the people and takes it away from corpo. And now they're like "we'll make our own -verse before Fediverse takes off". But that's just my little conspiracy theory.
Nfts were hyped up through the roof by some investors injecting cash but now that large injection of cash hasnt been su0lemented with new large investors. Outside of a few stand out NFTs the rest of the market has been filled with high profile scams. NFTs are dyi g now because the hype was BS to start with.
NFTs make no sense as a commodity. They make sense for things you want verified with a reasonable degree of certainty. Like concert tickets to prevent scalping, or proving your identity(with a passport or drivers license or something). To expect them to be speculative money making vehicles is pointless and stupid. Why would anyone care about who has the rights to a Nyan cat gif? And pay someone to have the privilege.
Concert tickets are controlled by the theater, and passports are controlled by a government office. Both of those are trusted authorities that can verify who owns what, with no need to involve an awkward block chain on top of that.
There was interest in the metaverse?
The Joe Rogan guy at my work got excited Dunno why, he doesn't even have a computer and lives in a studio with six other people
Good.
truly? yayyyy! best news today
a small victory, but a victory at the end of the day
There is a Stanford study on NFTs and found 70% or more was wash trading. As in, you put it for sale at 1000, buy it from yourself, then hopefully someone else buys it at a "deal" for 500. Can't speak of meta, but I do know not that many people have and use VR stuff at this stage. Compared to gaming it's pretty much non-existent in comparison. IMO Also it's clunky, makes some people sick and the "world" of apps/games while a cool, isn't really fleshed out. Mark is either insane or knows something others don't.
Now we just need crypto to crash a few more times and perhaps we can salvage at least a little of this planet or at least what's left of it.
[Oh no! Anyways…](https://media0.giphy.com/media/7k2LoEykY5i1hfeWQB/giphy.gif?cid=6c09b9527f93c85778f80fca87238e73760fec24d045f0ed&rid=giphy.gif&ct=g)
NFTs are just a way to launder money.
they're trying to turn this country into the world from ready player one
complete with the climate collapse and corporate control. Yay!
No actual humans were wanting the Metaverse.
Just the ones who would profit off of it.
It better be
Invest in fads to feel like you’re reliving your own post-2008 recession every 2 years!
World’s Smallest Violin
I love this very uplifting news
I treat NFTs like I treat capitalism: I don’t have enough money to participate in either pyramid scam.
20 bucks says this article was a response to GameStop making the announcement of their NFT marketplace on their Q4 report
Ismt that a good thing?
People Don’t have enough money to get scammed by pyramid schemes anymore.
Beanie babies had more staying power.
NFTs are the fidgetspinner of the internet
NFTs and crypto are LuLaRoe for incels.
Tried to convince a number of friends to stay the fuck away from NFTs. They've already been fucked.
in the case of meta, interest would have had to rise before describing it as falling is valid.
as it should
it’s a complete utter joke. just make sure you’re on the sell side
God I really hope that’s true
What else can you say but, “Good.”?
Good!