Originally published at: Self-proclaimed "Crypto Landlords" are making money by renting out NFTs | Boing Boing
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The thing about some(most?) of the news about crypto is that you can understand the words but still be baffled and confused.
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This just raises the cost of living for those people who need NFTs to survive.
Wait a moment…
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How much electricity is this wasting?
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Should I be pivoting my kids away from video into NFTs of their Roblox and Gacha Life avatars?
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Individually, each of the words makes sense. All lined up beside one another, they have the rhythm of a language I speak reasonably well. But as far as constructing meaning goes I might as well be watching Pootie Tang because at least then I’d be laughing.
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Crypto in general and NFTs in particular comprise one of those areas where the more I learn about it the more I feel I must be missing something… and then experience a fresh onset of “WTF” when I realize that I did understand it correctly after all. It makes the Tulip Mania of the 17th Century look like a perfectly rational exercise in economics.
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Every joule that went in.
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I can hardly wait for the leaderboard, such social prestige. and gamification always makes things better.
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And, as has been noted, at least at the end of that, you ended up with a tulip.
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but of course…
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I also must add that there’s a lot of concern over the wash trading with NFTs
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Yep. I think I’m just about done with this timeline. Is there a way off and onto a different one? Where’s the restart button?
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The secret to wealth and crypto is to sell your crypto for US dollars just before everything goes to shit.
In other words, cash out and don’t be the last rube.
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For fuck’s sake, WHY?!?! Why would anyone pay money to rent the “rights” to a crappy pixel-art image that nobody will pay any attention to for more than a few seconds?
(Not to mention that the sameness of the random generation results means these don’t make for distinctive avatars, anyway… I thought the point was to be immediately identifiable as “you,” which just adds ANOTHER weird twist to the idea of renting one…)
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