Today's Whiskey Tango Foxtrot

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Smpl Mnmlst
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#3116943 16-Aug-2023 23:57

@geektastic

One thing that always baffles me is why according to media reports only wonderful, kind, caring people die. What happened to the others?!

”Never speak ill of the dead”.

Sometimes I just sit and think. Other times I just sit.

eracode

Smpl Mnmlst
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#3116944 16-Aug-2023 23:59

msukiwi:

Why would you want to?!!!!!!!!!!

To send to Netsafe!

Sometimes I just sit and think. Other times I just sit.

neb

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#3116945 17-Aug-2023 00:17

eracode:
”Never speak ill of the dead”.

The Retrumplicans do that to Biden all the time.

Edited to add: Having said that, it's done to them as well. The Guardian famously described Mike Pence as having all the vibes of a resurrected corpse of a 17th-century Puritan minister.

freitasm

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#3117615 18-Aug-2023 13:39

Not today but... People who bought NFTs. Why? Why?

Buyers of Bored Ape NFTs sue after digital apes turn out to be bad investment | Ars Technica

The Sotheby's auction house has been named as a defendant in a lawsuit filed by investors who regret buying Bored Ape Yacht Club NFTs that sold for highly inflated prices during the NFT craze in 2021.

Yuga describes its collection of 10,000 Bored Ape NFTs as "unique digital collectibles living on the Ethereum blockchain" that double as a "Yacht Club membership card." The website has some "members-only" areas. "When you buy a Bored Ape, you're not simply buying an avatar or a provably rare piece of art," the NFT collection's website says. "You are gaining membership access to a club whose benefits and offerings will increase over time. Your Bored Ape can serve as your digital identity, and open digital doors for you."

These folks talk(ed) about NFT as it was the Mona Lisa.

FFS. Folks. A bunch of badly done cartoon apes. And people "invested" then complained they didn't make money.

Someone made money. All those NFTs and cryptocurrency pushers on Instagram are just running a Ponzi scheme where the last person holds the bill.

eracode

Smpl Mnmlst
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#3117618 18-Aug-2023 13:48

^^ More candidates for the Financial Darwin Awards.

Sometimes I just sit and think. Other times I just sit.

shk292

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#3117619 18-Aug-2023 13:48

freitasm:

Not today but... People who bought NFTs. Why? Why?

Buyers of Bored Ape NFTs sue after digital apes turn out to be bad investment | Ars Technica

I've never understood NFTs. I mean, I vaguely understand the technicalities but can't understand why they are perceived to have any value.

And it's frustrating that people this stupid have this much money to waste

neb

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#3117621 18-Aug-2023 13:50

shk292:
I've never understood NFTs. I mean, I vaguely understand the technicalities but can't understand why they are perceived to have any value.

They have the same basis as stocks and bonds, "number go up". Once people stop believing in them, number go to zero.

Rikkitic

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#3117634 18-Aug-2023 14:20

neb:
shk292:

I've never understood NFTs. I mean, I vaguely understand the technicalities but can't understand why they are perceived to have any value.

They have the same basis as stocks and bonds, "number go up". Once people stop believing in them, number go to zero.

Stocks at least represent ownership of something with possible intrinsic value. I fail completely to find any value in crude cartoon drawings that can be produced by anyone with no artistic talent.

Plesse igmore amd axxept applogies in adbance fir anu typos

shk292

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#3117637 18-Aug-2023 14:26

Rikkitic:

Stocks at least represent ownership of something with possible intrinsic value. I fail completely to find any value in crude cartoon drawings that can be produced by anyone with no artistic talent.

Exactly - if you have a share in a company, you on part of it and its assets and are entitled to a share of its profits.

An NFT means that you, erm, have exclusive rights to a digital "art" work. And being digital, it can be perfectly reproduced an infinite number of times (the "art", not the block chain). How can that have value?

geoffwnz

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#3117638 18-Aug-2023 14:26

neb:
shk292:

I've never understood NFTs. I mean, I vaguely understand the technicalities but can't understand why they are perceived to have any value.

They have the same basis as stocks and bonds, "number go up". Once people stop believing in them, number go to zero.

Value of anything and everything is perceived and made up. Gold is just another metal, but it's shinier than lead so it has more value as deemed by society. Diamonds are a sparkly rock that's a bit harder than most other rocks but has a deemed value.

MotorDrive Rallying

Rikkitic

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#3117648 18-Aug-2023 14:39

geoffwnz:

Value of anything and everything is perceived and made up. Gold is just another metal, but it's shinier than lead so it has more value as deemed by society. Diamonds are a sparkly rock that's a bit harder than most other rocks but has a deemed value.

Gold is an essential component of many advanced electronic devices, especially those used in space.

Diamonds are important for drilling and cutting tools.

Plesse igmore amd axxept applogies in adbance fir anu typos

geoffwnz

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#3117652 18-Aug-2023 14:45

Rikkitic:

geoffwnz:

Value of anything and everything is perceived and made up. Gold is just another metal, but it's shinier than lead so it has more value as deemed by society. Diamonds are a sparkly rock that's a bit harder than most other rocks but has a deemed value.

Gold is an essential component of many advanced electronic devices, especially those used in space.

Diamonds are important for drilling and cutting tools.

Not denying their use, but as "cosmetics"?? Perceived value for decoration.

MotorDrive Rallying

SomeoneSomewhere

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#3117673 18-Aug-2023 15:59

The price and scarcity of gold and diamonds is mostly due to hoarding/speculation, not technical use. IIRC >50% of mined gold is sitting in vaults.

The only semi-practical use I can see for NFTs is software licensing. You theoretically guarantee access to the software for as long as the Blockchain is running, rather than the company's activation servers. And it's reliably transferable.

Of course, these are things that large software firms explicitly do not want.

neb

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#3117748 18-Aug-2023 16:58

SomeoneSomewhere: The price and scarcity of gold and diamonds is mostly due to hoarding/speculation, not technical use. IIRC >50% of mined gold is sitting in vaults.

Diamonds are even worse, they're only valuable because the de Beers cartel makes them so. If all the diamonds lying around were released they'd essentially drop to being a semi-precious stone, thus the de Beers slogan "diamonds are forever" meaning "whatever you do don't sell them once you've got them because it'll put us out of business", and they reinforce it by sanctioning any jeweller who trades in secondhand stones to any significant degree ("real nice jewellery chain youse got here, be a real shame if your supply of gemstones was to dry up all sudden like"). During WWII de Beers contemplated dumping a huge amount, from memory it was 2 tons, of diamonds in the Atlantic to keep them scarce enough to be valuable because no-one was buying gewgaws during the war.

So shiny sparkly NFTs in expensive settings.

eracode

Smpl Mnmlst
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#3117876 18-Aug-2023 22:47

neb:
shk292:

I've never understood NFTs. I mean, I vaguely understand the technicalities but can't understand why they are perceived to have any value.

They have the same basis as stocks and bonds, "number go up". Once people stop believing in them, number go to zero.

Not at all similar. Stocks/shares represent ownership of an equity holding in an entity and generally have some tangible value. Bonds represent ownership of a debt obligation by an entity and generally have some tangible value.

NFTs represent ownership of an intangible asset.

Sometimes I just sit and think. Other times I just sit.

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