No. You can’t “invest in NFTs”, because there’s nothing there to invest in. They are worthless, valueless, pointless, and mostly misunderstood by the people who think there’s anything to them. You can speculate on NFTs, but even that is a mug’s game, because the market is full of grift, wash trading and scams.
Please watch this. It’s a long video, but well worth it.
“ Analysts also noted that crypto assets have proven particularly vulnerable to manipulation by celebrities and media hype, prompting warnings from regulators around the world.
In a statement announcing the investment, Binance founder Changpeng ‘CZ’ Zhao said he saw media as “an essential element to build widespread consumer understanding and education” of the crypto market and emerging blockchain technologies.”
Disrupting the pump ‘n dump industry.
It raises interesting questions about the authenticity and counterfeits of conceptual assets.
Selling shovels and pans to the gold prospectors… where the real cash is.
Getting really tired of all the crypto adds during the Superbowl.
For all the haters, there’s an upside to crypto.
Et tu, Larry?
Edit: Follow up by Cory Doctorow
Comprehensive synthesis of the technological, ecological and political critique of blockchainism
I’ve just read one of the most lucid, wide-ranging, cross-disciplinary critiques of cryptocurrency and blockchain I’ve yet to encounter. It comes from David “DSHR” Rosenthal, a distinguished technologist whose past achievements including helping to develop X11 and the core technologies for Nvidia.
that is an outstanding take-down of cryptocurrency myths and madness.
“None of us know how to use that goddamn bitcoin,” said one participant in a viral Twitter Spaces organized by convoy participants that was overrun by trolls on Monday night, Paul McLeod of BuzzFeed News reported on Twitter.“
-Apologies for the extended quote- but it does point out the ease of use
“
If the distribution is to more than 50 people, the planning document states, then volunteers will follow a complex process of creating a wallet on a smartphone, recording the seed phrase, sending a small amount of Bitcoin to it, and then erasing the wallet, with another volunteer restoring the wallet and following the same procedure, transferring the full amount, and erasing it again.
“Once the volunteers place the instructions and the seed words into the envelope and seal it should be numbered and squiggly random lines should be drawn on the envelope to help with later identification,” the Google Doc states. “Finally a photo of the envelope should be taken and posted to social media before distribution. The purpose of this is to allow recipients to complain on social media with reasonable evidence if they do not receive the funds.”
Volunteers need to remain in a room until the process is complete, with no more than one person leaving at a time to use the washroom, and with food being delivered. Of course, any devices used in the process must be destroyed, such as the printer for the paper seed phrases.
“The printer is the single best device to steal because it holds a copy of all of the seed words,” the document states. “The volunteers should work together to destroy the printer." A list of equipment needed for the project includes large pliers, leather gloves, cutting shears (“the most expensive available”), a screwdriver, and trashbags, to accomplish this purpose.
As the Google Doc developed, Weatherman tweeted out questions and calls for advice to his followers. “Anyone want to write up a procedure for destroying a USB printer in a hotel room using tools that are easy to obtain?” he asked in one tweet.
The process of actually putting the envelopes in people’s hands will involve videoing protestors’ faces, which the planning documents admits is “not good for privacy” but necessary for verifying that volunteers did not steal the bitcoins themselves.
“The criteria for distribution needs to be as difficult to meet as possible. In the case of the truckers protest in Ottawa we can take advantage of the cost of acquiring a semi-truck and getting into position to receive a donation,” the planning document explains. “The goal in that case would be to distribute bitcoin to owners of trucks that have been present at the protest for at least 5 days that are closest to the capitol building.”
“The four volunteers should hand out envelopes and video the interaction,” the document continues. “They should be sure that they capture the general area, the face of the recipient and show the distribution criteria has been met. For example at the trucker protest they trucker [sic] should confirm that this is his truck, he is close to the capitol and he has been in place for 5 days.”
If less than 50 people get the bitcoins then volunteers will simply walk them through creating a wallet on their phone and backing up the seed phrase on paper, the doc says.
Eventually, Weatherman started a Twitter Space for planning the Bitcoin distribution. At the time of writing, 5 people were in the voice chat. In the chat, Weatherman compared giving Bitcoin to protesters to giving them “a loaded gun,” in the sense that things could go wrong if handled improperly.
“So that’s like 50 percent of the Bitcoin gets lost and the other 50 percent is [for] the truckers. That’s totally fine, that’s acceptable. I think I said 80 percent in the doc, but… if we have some volunteer that runs off with, you know hundreds of thousands of dollars, and then it’s a Tucker Carlson story. That’s what we’re really trying to avoid,” he said.“
This makes me smile.
I would have thought that after the Mythos CCG nearly destroyed the company in the 90s they would have learned their lesson about jumping on the latest fad…
The Anti-NFT Anthem we deserve
