Kinda hard to miss him. He reads section about the breast crypto.
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Line Goes Up - The Problem with NFTs (Dan Olson)
- Thread starter theme park joe
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Kinda hard to miss him. He reads section about the breast crypto.
Man I sure wish crypto would go away, would be really cool if more video game communities put their foot down and didn't tacitly both-sides a glorified environmentally unfriendly scam.
The problem with crypto is that the people who invested money into it are waaaaaaaaaaaaay more motivated to keep that shit going than anyone else, and they can't really be reasoned with, because there is actual money on the line, and potentially a lot of it.
Like look on era even, I will bet you money most people would want NFT shilling gone, but they aren't as motivated as the people who stand to lose money if line stop going up.
Half way through and thoroughly enjoying it.
A Ponzi scheme for the digital age -- amazing. Glad my kids are not old enough to get suckered into this although I'm sure they'll be another terrible grift when they come of age.
Looking forward to seeing how the Metaverse similarly collapses under the weight of all this insanity.
A Ponzi scheme for the digital age -- amazing. Glad my kids are not old enough to get suckered into this although I'm sure they'll be another terrible grift when they come of age.
Looking forward to seeing how the Metaverse similarly collapses under the weight of all this insanity.
As someone who doesn't really care about crypto or NFTs at all I found it very informative. I noticed he didn't really focus on anything positive that NFTs can do besides being scams that help justify the existence of the block chain. Are there actually any good use cases for NFTs besides the grift?
It's not as politically charged, but his Suicide Squad video got me into his channel where he talks about how awful it is on a technical level:
Of course theoretically there are. The ideals that are behind it (used to perpetuate the grift) are noble in the concept of artists owning and being able to distribute their digital works. Gain royalties on them etc. However just like he points out, crypto itself doesn't really solve this issue, it can be done without crypto and would probably make more sense to do so. It's incredibly easy to avoid actually paying royalties etc due to easily just lying to the chain about the transfer. The problem is really creating artificial scarcity on a digital product and allowing ownership of some kind of royalties on resale of goods for creators. It's idealistic to a fault just given the nature of how it's basically impossible outside of closed ecosystem/platforms like games or apps to do so and typically those items have value as they serve a function (skins in games etc) and the value is tangential to the demand and scarcity of said item.
It's a deceptively simple issue, because of the nature of things like the art market and those communities. In many ways art has always been a grift. Because it takes basically collusion to say someone's work is valuable. You can argue that a book off a printing press is valuable because it's selling copies in mass for its value as literature and people are buying it for the content. Where as typically a painting at the scale we're talking is bought for large sums as an asset to store value etc. Typically with art "people" hyping the value of an artist and their works to shoot up its value amongst collectors. It's basically the same grift that NFT's are doing. The difference is the "ease" of access with NFT's to promise normal everyday artists a piece of that pie. So they put money into minting, putting it on the blockchain, charging fees etc. Instead of being relegated to the relatively small and extreme value for the ultra wealthy. They're trying to create a platform for the grift in mass now to prop up crypto and extract value at scale.
None that haven't already been solved by other, cheaper means, as it is now NFTs can't even store image data, only the link address, which means anything bigger than that is not feasible as it is… the copyright protection argument of this is the most baffling example, as most NFT art started as art theft of publicly available assets
If the mods are going to warn everyone who suggests banning crypto talk from the foruns for thread derailing, shouldn't the thread at least have a warning as to why is that happening? As it is now a lot of people ate taking unwarranted warnings(assuming they are justified by a previous resolution from the forum), there had been less harmful content that was blacklisted from ERA so I don't see why this is breaking the terms of the forum unless it's written on the rules that asking for banning crypto talk is against the rules.
i know i'm risking my neck out here for not sending this in the feedback threads but i'm afraid we won't get a stance on the matter with so many warns being given in this specific thread… It's making me scared people will get hunt for having an instance on this point somehow
Well, if the youtube-extension is working correctly 891 as of this moment.
Crypto twitter is already vewwy uwu huwwt about it. Which is fantastic. Make the conartists sweat.
A fantastic, well-written, and thorough video. I was ignorant to how deep the rabbit hole with NFT's went, and seeing that work was not only being stolen from a young artist who passed away at a young age in 2020, but that her stolen art was also being packaged into this NFT bullshit sickened me to my core.
If I have any criticisms it's mostly that he covers a lot of topics quickly with flowery intellectual language that may be hard to follow or may need repeat viewings to fully understand. (I'm doing a second viewing myself). This has always been Dan's style and for a college educated person like myself it's great, but a thorough breakdown like this of blockchain scams would do well to reach as many eyes and ears as possible. I envision sending this video to an enlightened centrist crypto enjoyer like my Dad and I feel he'd watch 30 seconds before writing it off as more intellectual leftist condescension. Again, heady discourse is Dan's forte so I dunno if it's right to put it on him to try and educate the masses, but it's something I couldn't help but think. Loved the video.
If I have any criticisms it's mostly that he covers a lot of topics quickly with flowery intellectual language that may be hard to follow or may need repeat viewings to fully understand. (I'm doing a second viewing myself). This has always been Dan's style and for a college educated person like myself it's great, but a thorough breakdown like this of blockchain scams would do well to reach as many eyes and ears as possible. I envision sending this video to an enlightened centrist crypto enjoyer like my Dad and I feel he'd watch 30 seconds before writing it off as more intellectual leftist condescension. Again, heady discourse is Dan's forte so I dunno if it's right to put it on him to try and educate the masses, but it's something I couldn't help but think. Loved the video.
great video. really enjoyed watching it last time. only compliant is that the drum sections are way too fuckin' loud lmao
NFTs are a solution in search of a problem. There may be something out there that uses them in a positive way, but as it is, they don't do anything that can't be done better with less environmentally disastrous means.
Very informative and well researched video.
This honestly screams "Amway" to me, and my parents were all in on that stuff when I was a kid. It did not work for them.
Every cyperpunk fiction writer is kicking themselves for never thinking of this concept.
This honestly screams "Amway" to me, and my parents were all in on that stuff when I was a kid. It did not work for them.
Every cyperpunk fiction writer is kicking themselves for never thinking of this concept.
He's quite redundant many times. Basically attacking it and the people with flowery language as you say. He could probably subsantially cut down the video and absolutely should. There's probably a good 30-45 minutes at least of redundant content and attacks that are self gratifying more than anything. I'd love to see a condensed video edit. It would be more impactful. I did listen to the full two hours though.
We had this same discussion in the other NFT video essay thread. I don't think any political stance or tone or language can convince away someone in the cult of this pyramid scheme. I don't know if your dad is that far gone but the whole point is if you've bought into these schemes, like any cult, you'll jump through many mental hoops to justify the sunk cost fallacy. There's quite a lot of steps for someone to get deprogrammed and that wouldn't include a video essay.
Got through this.
Some of what I vaguely understood about how NFTs worked were confirmed and much better articulated here, but ultimately I learned a lot more than what I guessed about them before.
But on the whole, they're worse than I feared. From the creators' biases just unconsciously making their way into the systems, to the complete lack of security and privacy (which in retrospect after watching this video is dumb because I guess the entire point of the blockchain is complete transparency, which in itself can't even be well upheld), to the entire motive of greed and misguided-like cult following of NFTs... Man this is a horror show. I had sort of minimized it in my previously lesser understanding as a techbro fad that was going to be exclusive of normies and die after a relatively prolonged but niche existence, but it's actually hyper-predatory of normies and has a culture that's incredibly vampiric to those who cross the threshold into it, and the predatory nature of it is only allowing it to grow and move into our lives whether we want it or not. Goddamn.
People in power really need to fucking stomp this shit out. The actors behind it are bad, the functions are bad, and the consequences of non-intervention look really bad too.
Some of what I vaguely understood about how NFTs worked were confirmed and much better articulated here, but ultimately I learned a lot more than what I guessed about them before.
But on the whole, they're worse than I feared. From the creators' biases just unconsciously making their way into the systems, to the complete lack of security and privacy (which in retrospect after watching this video is dumb because I guess the entire point of the blockchain is complete transparency, which in itself can't even be well upheld), to the entire motive of greed and misguided-like cult following of NFTs... Man this is a horror show. I had sort of minimized it in my previously lesser understanding as a techbro fad that was going to be exclusive of normies and die after a relatively prolonged but niche existence, but it's actually hyper-predatory of normies and has a culture that's incredibly vampiric to those who cross the threshold into it, and the predatory nature of it is only allowing it to grow and move into our lives whether we want it or not. Goddamn.
People in power really need to fucking stomp this shit out. The actors behind it are bad, the functions are bad, and the consequences of non-intervention look really bad too.
I'm not sure what "flowery language" he's using exactly. He uses a lot of technical terminology, but its all the technical terminology that the crypto space itself uses, you read a few whitepapers or watch a few Twitter interactions and its all the same stuff. He's just taking the crypto stuff at face value, discussing it with its own lexicon
Heck naw. He can be long; he can be thorough, rather.
If people easily waste 2 hours watching movies about made-up stuff, then Dan asking for 2 hours to talk about a modern worldwide sensation/scam.
There's probably some value in a 20-30 minute abridged version, but the people who are in too deep to the crypto scam aren't gonna be swayed by a 2 hour video by a nerdy looking Canadian calling them all suckers with low self esteem and bad money skills lol
An excellent video overall. I loved all the repeated call backs to the 2008 crash. I do wish that he had spent more time on the community and social aspects of the NFT grift like the "good morning/good night" stuff. It's definitely long AF though, if people wanna just get to the fun dunks I'd skip to the "If This "Looks Like Scam" Then Every NFT Room I'm In Looks Like Scam LOL" chapter.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
An excellent video overall. I loved all the repeated call backs to the 2008 crash. I do wish that he had spent more time on the community and social aspects of the NFT grift like the "good morning/good night" stuff.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
I'm still not sure how this solves the issue of wash trades. It almost makes it look as if the platform holder and the artists now have further incentive to condone wash trading. Or look the other way by not doing anything to automatically moderate or use automation to detect and deter it since that'd be a problem that would cost money to solve and would result in them making less from bad actors who want to engage in it.An excellent video overall. I loved all the repeated call backs to the 2008 crash. I do wish that he had spent more time on the community and social aspects of the NFT grift like the "good morning/good night" stuff.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
I was only using the "flowery language" because the person I was responding to used it. I didn't really understand what they meant either outside of simply using terms that turn into near technobabble like incoherency for most people because it's being stated instead of explored conceptually. But it would have taken even longer to that end, so it was necessary even at 2 hours. I moreso just think the added extra frequent few lines of ad hominem attacks on people talking about their low social literacy etc. Was probably not achieving the desired effect of educating, even though the vindictive part of me quite enjoyed it.
I'm perfectly fine with watching a two hour video. But there's a heavy self selection bias in watching a two hour video attacking something you may be into. Meaning the people watching it are already in agreement with him (GUILTY), when the goal is hopefully educating people, especially those who are being taken by the scam. So, having an additional edit, that's much more concise would be of benefit.
An excellent video overall. I loved all the repeated call backs to the 2008 crash. I do wish that he had spent more time on the community and social aspects of the NFT grift like the "good morning/good night" stuff. It's definitely long AF though, if people wanna just get to the fun dunks I'd skip to the "If This "Looks Like Scam" Then Every NFT Room I'm In Looks Like Scam LOL" chapter.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
So they imported those chain letter scams from years back?
Pyramid schemes persist because they're good at making those at the top rich. Sure, everybody else suffers, but they never care about that.
Lol they aren't even trying to hide a certain triangular structure here.An excellent video overall. I loved all the repeated call backs to the 2008 crash. I do wish that he had spent more time on the community and social aspects of the NFT grift like the "good morning/good night" stuff.
Semi-related, but I saw this new royalty idea being used on one of the bigger NFT marketplaces that really reinforces just how much the systems are designed to reward whoever happens to get in on the scheme first. There's no reason that someone should be entitled to a cut in a transaction just because they happened to own the item beforehand.
They claim this will "make collecting a more social activity, incentivize both primary and secondary sales, and continue to unleash artistic expression" somehow.
I don't think any of us are under any illusions that this will be received well by people who are neck deep in crypto. The video even covers stuff like WAGMI culture.
Well like, I don't know how you're supposed to talk about any topic with any sort of depth without turning away the "anti-intellectual" crowd. It feels like anything beyond a surface-level examination is deemed "elitist" not even just by those in a cult but like, just people in general.
This is a great companion piece to his flat-earther/QAnon video because in both of these videos, he manages to excavate a layer deeper into de bullshit and reveal that these aren't just crazy, stupid, dumb people, but a somewhat organized political agenda manifested into freakish behavior.
They want something. QAnon cultists want the mass murder of their political opponents and NFT bros wants, also, as he puts it, "to be the boot", to be the pioneers of a form of concentration of power so they can concentrate it into themselves.
An NFT bro is not dreaming of a world where problems are solved by the blockchain. He is dreaming of a world where I am his servant. Where I am the loser that allows him to be the winner. Where he made it, he finally made it, he is rich, he has everything. And I am in shit.
They want something. QAnon cultists want the mass murder of their political opponents and NFT bros wants, also, as he puts it, "to be the boot", to be the pioneers of a form of concentration of power so they can concentrate it into themselves.
An NFT bro is not dreaming of a world where problems are solved by the blockchain. He is dreaming of a world where I am his servant. Where I am the loser that allows him to be the winner. Where he made it, he finally made it, he is rich, he has everything. And I am in shit.
Wow, I bet this company has many women in positions of authority who can vet ideas before they are made public!
"My ape"
"I got my ape"
If you are talking about investing money and you're writing the words "my ape" to describe your investment, you probably fucked up somewhere along the way.
For someone who seems keen on breaking into the finance sector he sure seems dumb as a fucking brick.
I saw someone ask "how come crypto bros keep falling for these scams?" and it's like... because if they weren't susceptible to scams they wouldn't be crypto bros.
"Let's talk technical analysis."
"Actually, I was hoping to talk about my ape I purchased. Cryptobong69 speculates that they're gonna go the moon by year-end."
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