Desperation. I'd wager most if not all of us were in a position a decade ago to get into bitcoin long before it blew up and we passed cause it was dumb. Most of us just shrugged it off, some never forgot.

Social Media has conditioned (mostly younger) people to follow "Easy Money". Working hard to run a business is for suckers when I can buy online pictures and own a Lambo within a year.

@@frankieb9444 You say that but I highly doubt it's younger people buying NFT's... Crypto? Sure. I'm in college and I know a couple of people who dabble in that. But NFT's? Nah. Never met anybody dumb enough to follow that.

​@@pagatryx5451 so "crypto good, crypto subset bad"? ....

@@stephenkolostyak4087 If you think crypto and NFTs are the same thing, then you have no idea how crypto works...

Go for 480p, I believe in you!

Lol! Honestly the bad person in me thinks it's a great idea :(

let me in on it yo. i will actually give you 85% of the earnings and we can both disappear our separate ways. i can download a picture of a random cartoon animal, make copies each with a silly outfit and we'll turn it into a game. just gotta figure out each other's talents and we'll be good to go. you in dawg?

Just make a legitimate project. Then you'll make a billion and be able to walk round with your head held high, instead of watching over your shoulder every second while walking around with a couple of million.

@@scartissuefilms That is so much more work, man...

Timing

In France, the audible ad features an ex President of the Republic condemned multiple times for fraud, embezzlement, corruption, and starting a war to hide the fact he was funded by a lybian dictator, among other things. So that would have been perfect x)

I got a silent one

@@numerobis2178 lybian dictator?

the the other way round adds find people who are gullible enough and know less.

People are manipulated fairly easily. (Maybe that should be some people.) There are people who get caught in the hype, and put money into all sorts of scams. For pyramid schemes, they operate at all levels, from your aunt selling water coolers to high flying hedge funds.

@@ccdimage No. Most people. It's not just scammers... Businesses, the media, politics, education, society as a whole; people are naturally manipulated by others. Most manipulation isn't forced or 'artificial' but it's still present. Could even argue that nobody is free from artificial manipulation since withholding information is a form of manipulation. I guess it's a pretty conspiracy theory rabbit hole to explore, but unless you believe that the government and corporations are 100% open and honest to all of us, information is being withheld so that we have certain opinions. Hence, we are all being manipulated. Not even the smartest, free thinking people in the world can avoid it. But yes, I understand what you mean. Some are far more easily manipulated than others.

@@pagatryx5451 Yes. People are manipulated. We see the "obvious scam" and think how can the victim be so silly. But the truth is more complicated.

But, but the blockchain says its mine alone!!

No, you're right. It's all crap.

@@DrunkJackal the only use I can see for this NFT stuff is easily traceable copyright, as in, if you don't want someone to use your pictures/models/code you can make an easy case by pointing at the blockhain ...

@@XraynPR Couldn't the same be done with a database or any other simpler system of record?

@@DrunkJackal Yes and no, you can have a facebook post from years ago showing you came up with an idea, but technically you could also hack facebook (or an insider could do it more easily) and just edit the date on a new post to show as old, while with an nft it's pretty indisputable that you were at least the first one to put that media on the blockchain. It doesn't stop someone else from just making an nft of the same image, but it would be easier to show the copy as illegitimate.

"but it's unique" No, it's digital. It's just a bit of data. "but you own it" As long as the infrastructure around it exists.

@@XraynPR its worst than "you own it" as long the infrastructure around it exists. Axies the biggest one NFT game on marked has in their TOS they can ban you for any or no reason at all. So you own it and the infrastructure around it exists but you can't do anything with it...

They ARENT paying for the art

Don't be silly, they're not paying millions for pixel art, they're paying millions for something that says that pixel art exists.

The best part? You could commission artists for prices that are way lower with much better skill and will belong to you.

World is full of copium

hurp derp to the moon - investor, probably

I was about to drop 2 grand on it when bitcoin was new but my entire life took a fucking nosedive and everything went to shit. Had to use the money somewhere else. Guess i should have just did it anyway and became homeless for a while.

Everytime someone tells me they are a millionaire with crypto I asked them to turn it to regular money and they never can lol

@ Brady hunter send your crypto to Coinbase> sell crypto on Coinbase > cash out to PayPal account >send funds to linked bank account on PayPal app.

Pet rocks were such a success that the inventor felt bad about selling the free item so he took it off the shelves.

Sadly hurts all kickstarter type games, in a way the mind set of the money you put into a game should be considered gone the moment you "donate" it.

I have to disagree. Not everyone is great at spotting scams, and I would certainly feel bad for those who did get scammed.

Nobody shows sympathy until its them that gets scammed. Everybody thinks they are too smart to get scammed but when it happens to you we will see if you still feel the same way

Yup. If you struggle with the money, you are not going to the casino spending what you have left in hope you will win big bucks. And if you do (like those people with crypto) you are just plain stupid

@@calebricks4890 Here's a good test: Is it crypto? It's probably a scam. Is it NFT? It's definitely a scam. Is it crowdfunded? It's probably a scam. It's easy to perform and anyone can understand it, regardless of ability to spot scams.

remember Tulips? I guess it's because everyone just hopes it's the start of a new bubble, no matter how much use something has or how it looks ...

You have to remember 1975. The pet rock was an instant hit. When they came back in the late 2000s (before 2010) it outsold the original! Why would they stop? They need their nonsensical resource wasting fix, apparently.

It's like someone climbing into a zoo exhibit filled with bears. There were warnings, dozens of red flags, and so, so many examples of why it's a bad idea. They still do it anyways. At this point, yes, they do deserve it for dropping money on NFTs.

There always is with these kinds of things.

I don't think anyone is absolved of responsibility, but I don't need to lord that over people when I can simply empathize with their situation and feel bad they were scammed. At no point do I think this is a smart choice but I've been in bad spots in life too and if people see these risks as a way out, I can understand and feel bad when it goes wrong.

@@KiraTV1 I don't think people "investing" into these things see the risks and are making some kind of calculated bet here. And as the years keep ticking, it's getting increasingly hard to claim ignorance, when there is a wealth of credible education out there about the subject. Willful ignorance, perhaps. Too many people have dug themselves into a consumer credit hole, or bought real estate for prices they cannot possibly hope to pay off within their lifetime (my Canada showing here), and it's no longer about improving your life, but about hitting the moonshot to solve your financial sinkhole in one shot, ie, the lottery win, because they simply can't do it with hard work or traditional investment returns.

@@mariusvanc Jobs are useless when your wage is not matching inflation. Traditional investments have flat-lined. The risk of any one particular project are negated by the rewards from the projects that aren't rug-pulled. For every scam, there's been a hundred projects that have made huge returns. People in the space are perfectly aware of the risks, they just weigh them against the potential for reward, and it's heavily in favour of reward.

Exactly. Zero sympathy for idiots.

@@styxzero1675 My replies keep getting getting deleted. KZfaq clearly doesn't want people to know the truth about Economics. Sorry I can't reply. :)

It's risk v reward. We know the risks of this, bro. Others aren't as ballsy as us so they get gun-shy and make fun of us.

@@baconatorrodriguez4651 no it's because all cryptobros do is try to get other people to buy in by pressuring them and promising large returns.

@@baconatorrodriguez4651 we know u crying. don't hide it.

@@baconatorrodriguez4651 sure it's not because the entire business model you defend relies on you getting ppl ot buy your stuff so you arent the last in the chain. "cryptobros" are just the new naming for MLM "salesman"

Their like bossbabes except at least mlms are physical

"I'll pay you in exposure", proceeds to make headlines as a scam

I hope not. Until he vanished though, 100%

1. Hopium 2. Copium 3. Feeling like a dopium

Indeed, their only legitimate uses are money laundering and tax evasion. Anyone not doing those two activities who gets sucked inside like a moron deserves to lose everything.

Who knew investing in pictures of monkeys was a bad idea

They'll just move onto the next NFT that they think will be big. Some NFTs are already saying "Come join our family!!!!!"

@@gluedrinkerproduction LOL. That was a hilarious statement when ya really think about it.

I don't think they fall for it. They all know its a scam. As long as they can sell that useless token to someone else at a higher price, then that's all that matters to them.

@@computron5824 Well, that makes such people a part of the scam. I was speaking of the victims that are always left holding the bag.

​@@todd.cannon Honestly, that is the whole point of the NFT space. Everyone knows there's going to be someone left holding the bag, but they choose to do it anyways. It's all unregulated hype with artificially inflated worthless tokens that would be illegal in any real market.

@@computron5824 Well, no matter what it was originally intended to be or what it has the potential to be, it certainly has become tainted by all the scams, so yeah.

it's less falling and more they all think they can be early adopters. the whole thing is just a more complex form of a pyramid scheme: join early and offload costs to someone else down the chain.As long as you arent the last link in this chain you "may" make some money. otherwise you are the sap that gets their rug pulled.

With a better chance of some tangible returns, I might add. I abhor the mindset that embraces gambling, but traditional lottery probably has better odds than nft

Isn't that what stock is? You can't physically touch it or spend it asap.

@@albertgriffith5801 but stocks is like loaning out money to a company and then getting great returns if they do well isn't it? NFTs is like buying art but you don't actually get the art physically and you can sell it off to another person at a higher price

@@albertgriffith5801 no. You Invest in a company that produces products to the people that are either tangible or improve your lifestyle.

Crypto and nft do not do this any sort of way.

the really interesting part is there's people that are so dumb they fall for stuff like this but there's also people that are so dumb they don't even know they've been scammed. i can't imagine how dumb someone must be to fall for this easy scam but they're probably dumb enough to not even realize what's happening at all so not feeling sorry for them isn't really a big deal here. it's like feeling sorry for stepping on ants, like nobody does that would just be impossible and kind of insane.

Haters

I think it's the promise of quick and easy money that fools desperate people. Too many people believe in quick fixes, in finance, in weight loss, in everything. Something I read years ago and always keep close to heart is that there are no simple solutions to complex problems. The solution is often at least as complex as the problem, so complex problems like financial trouble or overweight requires complex solutions. For financial investments, it's always good advice to never invest in something you don't fully understand what it is. I take my own advice, in that I don't fully understand the NFT market, therefore I won't invest money in it.

@@oliver_twistor You can't even make money off investing in NFT tho...it's not like you can unilaterally stop the image you "own" from being freely distributed on the internet and it's not even legally binding. it's essentially a giant epeen tricket for yourself only that nobody else care about. That's what's so baffling to me. It's essentially like hanging the receipt of an expensive art piece rather than the art itself😑

@@rasmie8858 It is very strange. And as others have said before, for the incredible prices some of these NFT's sell for, you could commission a good piece of physical art for the same money and be sure that it is unique, because the only copy hangs on your living room wall.

@@rasmie8858 It's an extremely lucrative way of making money. The right ones increase in value at a rapid rate.

@@oliver_twistor The world is changing. The online world is becoming more real than the real world for a lot of people. NFTS are part of that transition. They are the rolexes of the online world. A status symbol, and a proof of your digital reality.

Thanks for the comment man, really nice to read

Block chain is a technology to send across any data/information in a decentralised manner. The technology itself is very poweful and has many uses i.e decentralised finance, banking, contracts etc.

@@smokelord2002 You clearly don't know/understand what blockchain technology even is.

@@smokelord2002 more accurate to say crypto currency than block chain. Block chain has its valid, limited use cases. But as a currency it is not. Too slow, unscalable, too easily replicated as a bunch of codes, with no inherent value by itself unless tied to real world entities ..... they may not all be scams, but definitely a close digital parallel to pyramid scheme where the last person holding the straw when the party ends is gonna pay for it. It is probably as bad a penny stock gambling.

@@CircumcisedUnicorn Block chain is not the issue, Crypto ocurrency that use it are, this whole NFT exposes a major issue in the whole system, a decentralized and anonymous ledger can be padded ot inflate the value of the trades. so the price of a "free economy" is fake ledgers aka a Crime.

The art was free since it was on the internet.

I'm shocked, SHOCKED! Well, not that shocked.

Bored Apes was first.

People have different risk tolerances. High risk stuff is fine as long as it's money you can afford to lose, and it's only a small portion of your portfolio. Investing in stuff that doesn't yet exist is a reasonable strategy, as long as you know what you're doing. You accept that 90% of stuff will fail, knowing that the 10% will do extremely well. I'm surprised at just how conservative and risk intolerant the gaming community seems to be. Or maybe that makes psychological sense...that a lot of gamers try to maintain very safe lives.

It is how it is :) Thanks for the kind words

And how do you know they are greedy?

You retain copyright but their actions make them liable to you legally.

Copyright law does not in any way work like that. The tricky part is dealing with the infringement when so much of this stuff is anonymous, but nobody can claim to own your drawing merely because they purchased a token of it, even in good faith.