Today, I'm still trying to get my head around what NFTs are, even though my friend walked me through the whole thing during an hour-long conversation. I guess I'm dumb. FML
Collection
Autumn: Leaves and Laughter
When the leaves fall, the laughter rises. Discover autumn stories as crisp as dried leaves!
Today, I was involved in a 5-way conversation about the movie Inception. I nodded and agreed with things that were said, but couldn't admit that despite having seen it 4 times, I still haven't the foggiest idea of how to explain what it's about. FML
Today, while I was trying to explain to my friend how smoking weed everyday doesn't make you stupid, I forgot what I was talking about mid-sentence. FML
Today, a friend of mine enthusiastically explained to me how Elon Musk's car-tunnel-thing is supposed to work. I don't know what's worse, the dumbass tunnel or the fact that my friend thinks it's an amazing idea. FML
Today, I found out that my husband is an undercover crypto/NFT dipshit. I found this out when I looked at our joint account to find he had transferred a hell of a lot of actual money to some sort of BTC account with a dumb name. He now claims it's "the future", and I just "don't understand." FML
Today, my coworkers were trying to teach me how to play a card game. There was one rule that I just couldn’t wrap my head around, even with three of my coworkers explaining it in different ways. It just didn’t make any sense whatsoever to me. FML
Today, I spent an entire conversation nodding and agreeing with someone, only to realize near the end that I'd misunderstood one key detail and was agreeing with the opposite of what they meant. I laughed awkwardly and said, “Oh, I thought you meant the other thing.” They said, “I know.” FML
Today, I tried to impress my boss with my knowledge of a subject and ended up sounding like a complete idiot. FML
Today, I joined what I thought was my company’s morning meeting. It took 15 minutes of listening to strangers talk about organic farming before I realized I was in the wrong Zoom. I still don't know how the link I was sent got me there. FML
Today, the moment I had been fearing for the past few days arrived: my mom asked me if I knew what a groyper was. I don't know what's worse, that I know what they are, or that trying explain the concept is so convoluted, she now thinks I'm making shit up. FML
Today, I had to explain to yet another person that I can't tie a knot. Even if someone walks me through the entire process, I never get it. The person in question berated me for not being able to perform such a "simple" task. I truly don't know what I'm doing wrong, and it makes me feel like an idiot. FML
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Top comments
Chazzster 29
“A non-fungible token is a special type of cryptographic token that represents something unique.” It’s like a pyramid scheme - It has value as long as other people think it has value. Eventually because it actually had no intrinsic value it will collapse. Those who got in early get their money back and more. Those who join late are left holding empty promises. - This will eventually also apply to all the cryptographic “currencies” that are not governmentally established and supported.
RichardPencil 30
It's a collectible baseball card. You kind of "own" it. You can sell it to someone else. If I want to display Beeple's $69 million NFT collage on my commercial website, do I have to pay royalties to Beeple or the asshole who pissed away $69 million on it?
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Comments (2)
RichardPencil 30
It's a collectible baseball card. You kind of "own" it. You can sell it to someone else. If I want to display Beeple's $69 million NFT collage on my commercial website, do I have to pay royalties to Beeple or the asshole who pissed away $69 million on it?
Chazzster 29
“A non-fungible token is a special type of cryptographic token that represents something unique.” It’s like a pyramid scheme - It has value as long as other people think it has value. Eventually because it actually had no intrinsic value it will collapse. Those who got in early get their money back and more. Those who join late are left holding empty promises. - This will eventually also apply to all the cryptographic “currencies” that are not governmentally established and supported.
be82tw 17
Eh, there are a lot of things without 'intrinsic value' that don't just collapse on themselves. What is the intrinsic value of a Monet or Van Gogh painting? Collectibles have value simply because of continued interest in their subjects persist. Cryptocurrencies fill an economic niche, even if we agree they don't replace paper money, and that demand pushes their value organically, if more than a little volatilely. However, full admission, I don't 'get' NFTs either. But in as much as we can think of them as digital collectibles they make some sense.
OrySoma 11
yes but here's the thing paintings have value because thier age and who painted them they have artistic value crypto currencies are just numbers on a screen that mean nothing that you earn by solving complex math problems or buying them they aren't collectable they don't hold any value besides what people set it at not to mention you can use something that's real and tangible like a painting verse something that literally has no physical repsentation
Chazzster 29
Physical art has intrinsic value because it makes you feel good to look at it and even better to own it. And it took talent and skill to create it. Good art is scarce because not many people are great artists and it is not easily exactly duplicated. A good Van Gough painting is something that the art world agrees has value and scarcity. Software or Apps have value because they provide a useful function for people even though they are just “ones and zeros” at the root level. Bitcoin’s value lies in being able to transfer value to someone online for an illegal product or service that cannot be paid with a credit card, bank account, or PayPal. As soon as governments or law enforcement finds a way to make such payments fully traceable then the value of Bitcoin or similar pay methods will crash as its only intrinsic value was being untraceable payment for mostly illegal activities. With enough resources and motivation the government and/or law enforcement will eventually crack the traceability if they have not done so already.