NFTs are emblematic of capitalism’s growing retreat from productive activity — and the wealthy’s desire to extend their dominion into the digital ether. They’re worse than useless.
  • Zerush
    7·
    3 years ago

    Whoever does not learn from history is condemned to repeat it over and over again.

    Since capitalism exists, always the same

    Financial bubble due to the greed of an elite > the bubble bursts causing an economic crisis > doing a reset through a war most of the time (actually because of the economic crisis due COVID and bad politics, again cold war against Russia under the pretext of Ukraine)> creating a new bubble…

    https://corporatefinanceinstitute.com/resources/knowledge/economics/dutch-tulip-bulb-market-bubble/

    Human stupidity is infinite

  • DPUGT2
    211·
    3 years ago

    NFT’s are a useful technology that business hasn’t caught up with yet. If you showed up in 1950 with a 4k OLED television, people would think it weird and wasteful too… there’s nothing you could watch on it.

    At some point, I imagine that real estate deeds and car titles will be managed with blockchain technology like this. No more lost records because a courthouse built in 1912 burned down. No more forgeries. And an infrastructure that supports transfers between two parties without waiting for some bureaucracy to get around to rubberstamping the paperwork.

    Pretending that it’s about monkey pictures just shows you don’t understand technology.

    • Zerush
      2·
      3 years ago

      In a ill capilaist system add another virtual anonym economic system is like the intent to turn off a Fire with fuel. Give an corrupt politican or big tech company a anonyme currency and wait if it give benefits for the society. In this capitalistic system NFT, by definition, are a pyramid scam.