Reddit Posts
What do you think about the future of crypto technology?
NFT Scams: How to identify and YEET them
NFT Scams: How to identify and YEET them
NFT Scams: How to not lose your favorite JPEG
I want to explain the true value of NFTs.
Think people won't buy your free reddit NFT? Turns out people bought NFTS of farts!
Think people won't buy your free reddit NFT? Turns people are buying NFTS of farts.
Has the current NFT market given NFTs in general a bad reputation?
The difference between JPEGS and NFT's
Let’s talk about carbon emissions and my thoughts on regulations possibly to come in crypto.
NFT is easily the most practical utility for blockchain but at the moment it is completely associated with JPEGs and Farts in a jar. Here is a look at some interesting utilities.
Marvel, Disney, Star Wars, The USA government, Coca-Cola, DC, Cartoon Network, NFL (PA), NBA, Star Trek, DreamWorks, Givenchy, and so much more are all in the crypto world thanks to NFTs. You'd think crypto peeps would be happy with all the true mass adoption by truly established big players.
Marvel, Disney, Star Wars, The USA government, Coca-Cola, DC, Cartoon Network, NFL (PA), NBA, Star Trek, DreamWorks, Givenchy, and so much more are all in the crypto world thanks to NFTs. You'd think crypto peeps would be happy with all the true mass adoption by truly established big players.
Mentions
Ironically, this issue took a turn some weeks ago. The 4MB JPEGS were priced out by BRC-20 shitcoin minting. Now the transactions are tiny, but there are thousands of them But the clueless masses are still shitting on JPEGs
yea they only think about JPEGS when it comes to NFT, its more than that!
So is there a possibility of attaching malicious information to Ordinals (i.e JPEGS)?
They didn't. That transaction flood increased fee rates from 1 Sat/vbyte to 5 Sats/vbyte. The current transaction flood has actually priced out all the "JPEGS". It is BRC-20, a pseudo-contract for minting speculative meme tokens. This transaction flood is a pump-and-dump speculation, persists for as long as the pump-and-dump profits are higher than the Bitcoin fees, a few more days at most
[Ouch!](https://i.imgur.com/jEljMMb.png) Stumbled upon this checking floor prices of my jpegs manually since that one site is broken. This hurts to see b/c I have been there when life gets hard suddenly. It legit hit me in the feels. Wish they had ENS so I could donate moons, or some of this weeks IBC staking rewards to their ramen fund so it doesn't have to be this way. I can't imagine the despair when they are booming again after taking that loss. I had a hard time wanting to even LIST my Stuttervoid when it was peaking around 1ETH, IDK if I even could list it at all now that I own one of their limited digital paintings that goes alongside two of their Halloween Snoovatars. I love that they are tying their Reddit work with their personal creations more than anything. I was happy AF to see TFoust doing limited collaborations with Rojom and others now too. Maybe I believe in the art over the hype long term, but I'll be holding my Reddit JPEGS and such. When I see someone like above, it hurts more than simply paper-handing tokens at that big of an L. To see that loss in faith...in art even. I already suffer from imposter syndrome with my own art, seeing that happen with my work would have me shook even more too even knowing it's likely not "me". Sorry to get sappy, but that one got me.
I think it’s still in the NFT phase. But I think NFT technology will have a larger impact on the Crypto industry once it’s being utilized regularly for things people need in their everyday life. No one *needs* JPEGS of Cyber Apes, but it was a fun trend. When NFT gets adoption from the Film & Music industry, there will be fireworks. The US Music industry is doing about $15 Billion annually, the global Film industry is doing about $21 Billion annually. If just a small percentage of that money would flow through the crypto market, it could be a game changer for early holders.
Why would NTFS panic bitcoiners? Because the blockspace is much more useful with other things than JPEGS?
Please revisit this comment in about 5yrs. In the 90’s, many closed-minded dinosaurs with no vision calle the internet “a fad” that “won’t last”. Now, these very same people’s lives totally depend on it. NFTs were created for these very same use-cases, not for JPEGS as most think, JPEGS on NFTs were just for fun, as the tech wasn’t out there and it’s power wouldn’t be utilized right away by the masses. Car titles, house deeds, and many more things will be on NFTs in the future. And, rightfully so. Good’ol Cali is about to save millions of dollars a year on paper, printing, and manpower involved in issuing or transferring car titles. One less reason to visit a DMV for customers as well. Win-Win for both sides. Only closed-minded tards could possibly see an issue with this.
There’s nothing to short. NFTs have been around for a long time. Despite of what the ignorant masses think, NFTs weren’t created for JPEGS, they were created with these very use-cases in mind. JPEGS on NFTs were created by early adopters and developers basically for fun, as they realized it’ll take time for serious adoption and FORWARD thinking people to finally put it to good use. Bitcoin was laughed at by most people, look where it’s at now. Smart contracts and NFTs are the future. The very same people that doing this technology are the same types that said the “internet was a fad” and that it “wouldn’t last”. Technology and the future doesn’t stop for those kind of people; it simply leaves them behind.
NFTs weren’t created for JPEGS, that’s just one use-case early adopters and developers used for them.
after all the luckers in NFT that was just JPEGS seems that NFT is now slowly after the hype building something good with good foundations. Lets go.
Wrong, an image is a fine use case for NFTs. Photographers and artists having the ability to take ownership of their work, cut out middle men, and provide scarcity is huge. NFT tech will be used for other stuff too, obviously. Don’t fall into the trap of thinking that “JPEGs are a shitty use of it”. That’s technically just incorrect. It would be shitty if JPEGS were the only use case ever, I’m guessing that’s more what you meant anyways.
Another thing I thought of, last bear market there was no NFT market buying the dip for their JPEGS. ETH is just too new an asset to look at historical trends imo.
There's ways it could work in a sensible way. Financial NFTs make sense. Heck, even gaming has some potential here. But buying JPEGS is just a really shitty idea lol, i never saw people make unbelievable amounts of money in a more stupid way
Seems that is about time everyone will jump this. I just hope they see some utility on them rather just JPEGS
welcome — crypto is scam and collapses like this are regular. your money is never safe and buying JPEGS is a waste of time and money. stick with bitcoin
Nowhere near that. Africa is adopting in major ways. Overpriced JPEGS (a podcast made by Bankless) just had a great interview discussing what's happening in Africa. It's really beautiful and let's me know we're going in the right direction.
Just keep in mind most learning comes from failure, and doing so with some currently valuable JPEGS is very risky... It's hard to give you any guidance not being able to see transaction details regarding the transfer. Trust me I'd help find em if I could...
All those projects have no community to start with compared to reddit. So, obviously they will start with JPEGS and build utility around them which takes time. But if you gonna judge them without letting them grow then isn't it wrong opinion?
Huh? So you accept the truth that these are nothing but JPEGS but with extra step.
Cyber mobbing at its peak because of some free "JPEGS" as they woukd call it. Don't understand why people saying they are not worth anything are the same criticizing them for all of their life.
It’s a scam, just like the boom for “vintage video games”, just like beanie babies, just like collecting comics when Superman died. It’s all horseshit market manipulation by creating a perceived value for items that have a niche market so the same group of auction houses and “authentic quality assurance groups” can scam dipshits, except now they’re selling JPEGS instead of physical things.
If people got money for monkey JPEGS there is room for rates to rise
You missed my point. Yes it’s a new JPEG, but I’m saying the new functionality is combining elements from different JPEGS. It is different isn’t it?
Thats the difference between what most people know as NFT's and NFT skins. Most NFT's available now are simply those JPEGS, whereas if in game microtransactions were NFT's, or like reddit have done, profile pictures, then suddenly there is something beyond the image itself.
The expensive “JPEGS” like Bored Ape Yacht Club DO have utility - they’re communities. NFTs are fantastic for community building, and they’re incorporating use cases as well. BAYC used NFTs for event ticketing for Apefest this year. I wouldn’t be so critical, there’s plenty happening it just doesn’t sound like you’re tapped into that side of the space.
Totally worthless shit JPEGs outselling slightly less worthless shit JPEGS
Great point? Developers who often have bachelors or masters degrees in comp sci simply misunderstand the technology! That’s it! That’s definitely the most likely explanation! No possible way that they’ve arrived at their conclusions with deep understanding of the science of cryptography and database structures! They were just lied to! Yea! Thanks for this! For a second there I almost thought we (the degenerates who have invested aggregate billions of dollars in JPEGS and esoteric stores of value) were the dumb ones, and the professional computer scientists were smart! That was a close one. Google Dunning Krueger for me, my man. And anyone upvoting this, get a grip.
I think the most important part about NFTs is that ITS NOT JUST ABOUT JPEGS. It allows digital trades between 2 people without the need of a middleman, could be very useful in videogames, it could even kind of allow people to "develop" a video game as a community. it could simplify a lot of processes like property act as a nfts and so on..
The whole 'crypto winter' label is just some kind of hivemind buzzword. Let's take into account reality: * Cost of living has continued to go up, so retail investors have less funds to gamble with compared to last year. Especially for Europe. * Institutional investors have lost interest for now, moving to less speculative assets as stocks/crypto are starting to come back down to earth in a world of rising interest rates. * An inevitable crash in the markets is coming as more businesses and people default on their loans. Mass foreclosures are coming. * Bitcoin adoption on the lightning network has had minimal affect on long term price, people don't care about actual crypto use, otherwise the OGs like XMR, LTC etc would still be in the top 10. * NFTs have no value right now, maybe in 10 years when a decentralised blockchain and ***decentralised*** ***marketplace*** actually has sustained real world demand. And the NFTs are not JPEGS but actual legitimate intellectual property. How can crypto recover?: * Central banks take a more dovish approach, reduce interest rates again, step up quantitative easing again. This won't happen until inflation is 'under control' * As a result of the above, money printer go brrr and USD loses market dominance. * In the energy sector, Oil and gas supplies have stabilized to an affordable cost to the average consumer. Especially those that actually want to mine crypto profitably via POW. * World goes to shit, $1,000 for a Deli sandwich. CBDCs take over, everyone buys XMR to store wealth privately
I know that. I probably wasn’t clear though. I didn’t make the distinction between the soccer ball JPEGS and the NFT with a link embedded in its meta data. My point was that you can copy my JPEG but you can’t copy my NFT.
Bullish on *Worthless JPEGS*
Scamming millions from JPEGS and Hyperlinks 😁 Artistic JPEG of some tragedy for 60 bucks 😡
SO much more to NFTs but basics only see the JPEGS. Which is fine b/c it's teaches the basics the basics. Ticket Sales, Land Deeds, Subpoenas now things like Car Titles and even routine parts to prove maintenance is something VChain and BMW explored. LTO is working on a Decentralized ID platform for DEFI applications and such We need the JPEGs to teach the basics much like we need DOGE for the same to get their feet wet and learn the blockchain before exploring and leveling up etc.
NFT are not just JPEGS it’s a technology ! Bunch of luddites
Yup. As the hype around NFTs (JPEGS) rose, and saw how some of them were selling for millions for no reason, I started doing research on the technology. NFTs go way beyond images, they are a new form of technology that can be used and integrated everywhere.
JPEGS are pretty much money laundering, mint JPEG NFT. Buy it from yourself. You keep the money plus now have a JPEG worth $__. If you can sell it you profit. But NFT's will find a huge use in gaming
>Gamers hate NFTs because they are just a worse version of shitty micro transactions we have today. Gamers hate NFTs because the only association with them at this stage are over priced JPEGS. Once there is an ability to seamlessly trade items across platforms and games, I think gamers will realize the utility behind NFTs can benefit them, imo.
A perfect example of a person who does not fully understand something jumping to conclusions. If you are talking about those JPEGS, MOST will die, but there are some good ones that will live on. Just because you don't like or understand something, doesn't mean everyone else feels the same. Those kind of NFTs will have their own markets, for collectors alike. And proving ownership of something on a trustless system will be massive in the future. Human are corruptible, and not trustless. Saying NFTs are useless just shows you dont understand it fully.
You also have to factor in the crypto projects that actually capture real "value" in the form of payment for products and services. This actually takes a portion of the transactional value and gives it back to stakers, miners, and liquidity providers. Then there is also the actual product being transacted. For example, maybe you can't see the value of an NFT game assets or JPEGS, but there are plenty of people collecting these not just to flip, but also because they want to create a cool inventory or own the best video game assets to compete and have fun. And that's simply just the tip of the iceburg for crypto value. The more real world use cases like concert tickets as NFTs the more value the holders of crypto can earn instead of VISA and Mastercard. Literally growing that crypto's value. If you are buying chipotle with your crypto, you're increasing other crypto's holders bags, even if it is just a tiny bit. And you're not investing into crypto necessarily, you're actually just using it as a currency to pay for things. The more people do this, the more real "value" crypto will have and store on the blockchain.
Stop forcing this bullshit into video games. Just fuck off. You want to gamble on JPEGS? Whatever, so what you want. Just fuck off from my video games
Let’s see if people are willing to buy bored Ape JPEGS now with prices at hundreds of millions while the macro economic situation is in shambles
It's a breath of fresh air to see NFTs being used for something other than JPEGS.
I 100% believe that NFTs have a future and real world uses. But this current situation where most people think that the JPEGS themselves are the NFTs and the fact that a simple picture just because its been minted to the blockchain and has the word "NFT" linked to it and people pay millions is going to be a huge stain in the crypto world. I can't wait for this current fad to be over and i feel sorry for people paying even hundreds for a cartoon drawing that has 500 copies.
Memestocks are the most obvious pump and dump schemes ever invented. NFTs with no utility or value being bought on the premise that they can be sold for more at a later date are also a very obvious pump and dump scheme. There are altcoins with aspirations to actually do something, as well as NFTs that actually do stuff beyond being JPEGS as well. This is the nature of an unregulated market. Lots of bad actors will try and bamboozle people to make a quick buck. Too many people investing money without realizing the risks.
When someone talks about NFTs as being useless JPEGS I always direct them to Gods Unchained there are use cases for them they are being implemented for it, it's just that boring apes in a boat sells more content
That will be in 6 months, suicide hotlines will overflow, you will see posts of someone takin out a 500K mortgage to buy 2 monkey JPEGS and now stuck with 8K a month installments while the collateral is worth 80 dollars.
Although I believe the technology behind NFTs is revolutionary, the applications have still yet to be realized aside from just JPEGS, P2E and the GameFi that the article mentioned.
Oh because it's JPEGS OF CARTOON CHIMPS. Con artists sell the picture to themselves for massive amounts of money then the suckers come along and also buy this crap thinking it has value. It's a scam
The stock market is too busy reacting to ElonTwitterGate to give a shit about JPEGS
Red pilling into crypto is not easy for some A reinvention of self, a bold step to walk away from traditional societal norms NFTs are more than JPEGS, this movement represents a drastic change of psyche on a macro level and we get to lead the charge
Yes for sure, JPEGS are for sure putting bad mouth on NFTs, the problem is there is no many projects that have use case, some are there like Crayon dao, but that's not enough sadly to make companies create projects and not be scared of failure.
These companies **could** start leveraging NFTs for real-world applications instead of JPEGS.
haha you can continue to buy NFTs meme for 500k usd. I was interested in exploring the application for NFTs for other usecase. I think the speculation around NFT JPEGS will continue for a while, but we will see more and more NFT application in the future
Yes, I will take four of them JPEGS for 340,000 euros.
Friend and I had a conversation: Friend: I just hate those JPEGS, it serves no purpose it’s stupid. Me: but if someone randomly gave you a BAYC, would you accept it? Friend: Hell yes! It’s stupid but I’m not. Me: fair enough.
Wow JPEGS promoted by celebrities? That seems like an awesome investment, what could every go wrong?
You can use NFTs as any sort of digital access ticket for a game or program, it's all completely programmable. Right now NFTs are big as merely JPEGS and social club entry tickets, but they have an arguably better application for gaming or anything that makes use of transactions. Instead of using a private server to host games and all the data, NFTs are on public servers (blockchain) which allow them developers to integrate more complex types of transactions, all in a decentralized and timely manner, granting you permanent ownership and ability to manage the NFTs.
Ummmm selling monkey JPEGS for the purpose of money laundering.... Nothing else, just like the "fine art" laundromat....
People who don't have much should be exactly the ones that don't invest into monkeys jpegs. I'm not rich at all and don't have a lot of money thats why i am extremely care on where i will put my money to keep growing my finances not gambling with JPEGS
Absolutely, what bothers me is that most people seem to think NFTs are just JPEGS. Games are certainly one of the best use cases for NFTs.
"NFTs are JPEGS and GIFs that people use to make money" ... if this is someone's like of thinking, they probably should have been one of those people googling "what is an NFT"
>Fr lmao. I bet 99% of ~~NFT~~ investors are in it for the money >And as you pointed out the people interested in the tech might as well account for 0.1% of the investors FTFY. This describes every market, especially crypto and those looking to profit of shit coin pumps, Doge ect. How the crypto community here sees this behavior as OK but not flipping JPEGS is bewildering.
Lost people, yes. People who feel like they need to buy JPEGS to be feel included need to go outside and have a picnic with their friends or family.
The underlying technology of NFTs will be used across so many verticals. This nonsense JPEGS and pfps are about to get a nice wake up call
Comparing NFTs to tulips doesn't paint the entire picture. Yes there are JPEGS that sell for millions and do basically nothing. But NFT can be so much more including a donation mechanism or securing property rights.
The value they have are the same as JPEGS
Maybe try selling NFTs? Plenty of people there to buy up your JPEGS if you target the right audience.
I just do the free giveaways and airdrops. Some art are legit good. It won't be worth much but maybe in half a decade od a century, some rich bozo will buy it from my children or grandchildren. I'll be like, "My child, here are 12 magical words blah blah blah." And then they'll see some JPEGS lol. But yeah I'm happy to have some link to a good looking image file
Stealing JPEGS.... what a world we live in
Now if you knew more about NFTs and its ability to cut off the middlemen (centralized database as you call it) companies can profit more. On a bigger scale, imagine the cost associated with 300 million shot records sitting in a datacenter.. compound that with all your health records x 300 million in the US x global population..... fuck that's a fuck ton of useless middlemen making costs higher just to hold your shit.... All those scans, PDFs, JPEGS .....
I don’t believe this is accurate in any way. NFT’s just won’t be JPEGS’s in 5 years. Gamers just don’t know they want NFT’s yet, but eventually they’ll own truly scarce in game digital collectibles, and guess what those will be 😏
Ugh I know NFTs are a poor “investment” but when I see one with interesting art work and a legit artist, can’t help but throw in to invest in the overall ecosystem. I TOLD MYSELF NO MORE JPEGS!
TLDR: The tech is great. You literally destroyed your own post there. No one cares about the JPEGS, the whole hype is about the tech.
I liked this guy’s take on NFTs because you can’t go wrong bashing poorly drawn JPEGS but if you bothered to watch his video, he is super anti crypto and latches onto emissions like his life depends on it.
NFTs are almost never JPEGS, JPEGS are far too large to be stored on the block chain. The fact that people in a sub literally dedicated to NFTs and Crypto don't understand what they actually are is extremely worrisome.
So you’re in it for the long haul but basically you long and short in the medium term where you see fit?? Makes sense I suppose. What’s your take on NFT tech? Not the JPEGS but the application of? You think that will help or hurt the value of stable coins??
Sorry but this is a terrible argument. You are comparing JPEGS to something that a company will distribute as ticket sales. When anyone says JPEGS are a scam, it's cause some ugly art or just a random rock just went for $500k+. You don't compare something so subjective like art and art prices to something a company distributes so you can get into the stadium for a seat! I don't think anyone disagrees to NFT as tickets, hell, it's already started happening with digital tickets you can scan on your phone, such as plane tickets. Everyone knows digital tickets are the future. Can you come up with another reason why NFTs are the future? I can see title papers to track ownership as NFTs in the future. Such like a car title and house title.
NFTs will be ubiquitous in the future, but JPEGS as NFTs for huge sums = stupid.
Its just JPEGS to those that don’t know. They haven’t done researched. They didn’t jack about art previously what makes you think they’s be interested in art now.
No one is buying ‘JPEGS’ (talking by the +6 figures); they’re buying connections, business relationships and advertisement.
I don’t think JPEGS should be valued at anything above $.01
Watch out world, here comes some JPEGS!
I'm very much a believer in the future of web3. I don't think that means any criticism of the present state of the platforms being built is invalid. You're absolutely right, IPFS is a solution to the problem being highlighted. But that doesn't erase the present URL problem that applies to the majority of NFTs being sold on platforms like OpenSea. Moreover, I think the greater insight coming from Moxie's article is that there are inherent advantages to centralization that should be accommodated with cryptography to distribute trust without needing to distribute infrastructure, and that most people don't care about the underlying infrastructure powering the services they use. If web3 makes it more complicated and more difficult to build products that satisfy (the typical) users' needs, we should not expect it to be inevitable that its underlying decentralized technologies will be fully adopted. >The people at the end of the line who are flipping NFTs do not fundamentally care about distributed trust models or payment mechanics, but they care about where the money is. I doubt the people flipping NFTs care whether their file is stored on AWS or on a set of IPFS nodes, so why would the platforms building for these users prioritize decentralization when it results in more complicated development? >So the money draws people into OpenSea, they improve the experience by building a platform that iterates on the underlying web3 protocols in web2 space, they eventually offer the ability to “mint” NFTs through OpenSea itself instead of through your own smart contract, and eventually this all opens the door for Coinbase to offer access to the validated NFT market with their own platform via your debit card. Turns out, many users are more interested in the benefit of not needing to pay upfront gas cost versus storing the NFT on-chain: https://support.opensea.io/hc/en-us/articles/1500003076601-Can-I-list-an-item-without-paying-to-mint-it- >That opens the door to Coinbase managing the tokens themselves through dark pools that Coinbase holds, which helpfully eliminates the transaction fees and makes it possible to avoid having to interact with smart contracts at all. Eventually, all the web3 parts are gone, and you have a website for buying and selling JPEGS with your debit card. The project can’t start as a web2 platform because of the market dynamics, but the same market dynamics and the fundamental forces of centralization will likely drive it to end up there. > >This isn’t a complaint about OpenSea or an indictment of what they’ve built. Just the opposite, they’re trying to build something that works. I think we should expect this kind of platform consolidation to happen, and given the inevitability, design systems that give us what we want when that’s how things are organized. My sense and concern, though, is that the web3 community expects some other outcome than what we’re already seeing. For another example of this trend, take a look at Courtyard: [https://courtyard.io/](https://courtyard.io/). NFTs that are backed by the physical object they represent, stored centrally and managed by a central institution. In this case, there is no IPFS or other technological solution that can distribute the trust, there will always be a central party managing the physical object that holds the actual value of the NFT representing it.
JPEGS NFTs sucks tbh bruh.
Yes. JPEGS on animals with silly things on their hand is not a fad/bubble, but is the future. Yes.
NFTs have a valid use-case. Unfortunately, people spending hundreds of thousands of dollars on 8-bit JPEGS of Aps and Punks isn't it.
JPEGS are selling so much.. its wild out there Imagine when these people discover GIFs
I think the way NFT’s have been covered, so many people are going to miss the party when they start being used universally for shit that actually matters- and those people will cry fowl that they just thought they were JPEGS with a price attached
Secret Network (SCRT) is just getting started with the whole Miramax vs Tarantino debacle coming to a head in three days with the actual auctions. That on top of the privacycoin boom happening rn...might get epic. I'd love 2022 be the year of PRIFI (Private Finance) You can also [WRAP](https://wrap.scrt.network/) or [BRIDGE](https://bridge.scrt.network/) a lot of your assets into "secret" assets using the Secret Network. Including ETH, XMR, BNB and just about anything on the Cosmos IBC network. With it up 16% in the last few hours alone, if you're new to the project I'd also like to point out some other worthwhile projects on its ecosysetm. [Button Swap - BUTT](https://btn.group/secret_network/button_swap) - Built on SCRT and NEAR - Too many features to list. Aggregate Pools, alongside an aggregate swap system that searched all three DEFI swaps on SCRT for the cheapest route. It's governance tokens Tokenomics are even crazier...28m Total Supply with only 9.5 circulating rn...to suggest this token could go WILD... [Secret Swap - SEFI](https://secretswap.io/) - The 1st DEFI app on SCRT [Sienna Netowrk](https://app.sienna.network/) - DEFI / Lending Looking for some JPEGS? There's still 840 / 10,000 [Mystic Skulls](https://mysticskulls.com/mint) able to be minted.