Volpone
Zombie Hunter
That's nice.
Trump's NFT digital trading cards
- Thread starter eloisel
- Start date
The Question
Eternal
The Question
Eternal
Considering the image there, I'm stumped as to what other ways to look at it there might be.
jack
The Legendary Troll Kingdom
It might be interpereted to mean we were welcoming a fellow foreign country that we were helping to overcome the horror that was their neighbor.
Hopefully between HIMARS and PATRIOT we'll save western Europe from being overrun by commie lying thugs. Gotta start somewhere.
Hopefully between HIMARS and PATRIOT we'll save western Europe from being overrun by commie lying thugs. Gotta start somewhere.
eloisel
Forever Empress E
These detractors may be people who are not aware of Trump's decades long history of bad acts and criminal activity which is why they think he is such a wonderful thing, probably based on his scripted and manipulated and managed appearance on Celebrity Apprentice. It is possible that they are just corrupt and nasty people. They apparently aren't aware of the long history of conflict between Russia and the USA and may not be aware of how close Russia is to the USA. Go northwest to the point where Russia is only 55 miles away with two tiny islands in between us - one ours, one theirs. Putin, Trump's idol because of his dictatorship and wealth, is our enemy. Putin is no friend to any American unless that American supports and assists in furthering Putin's goal to conquer and destroy.
jack
The Legendary Troll Kingdom
Funny thing about opinions....that's what they are. Express them freely. When you chide others for disagreeing with yours (for whatever reasons you may have) they stop being opinions and become your rhetoric.
Your rhetoric is yours to profess, just don't be surprised when you don't get the response you might be expecting. As in, you're off the mark about a lot of what you think is truth. Not many agree, but I'll be dipped in shit if I'm going to fight with you or anyone else about "who's right" or "who's not".
Express yourself freely, just lay off the demands that everyone see things through your lens(es).
eloisel
Forever Empress E
You are projecting. Do you enjoy drooling and biting your own face? Or is that suppose to be a put down?That's nice.
eloisel
Forever Empress E
However, since some time has passed since Trump's NFTs came out, what do you think about them now?
The statement that he made that these cards reflect his life set him up for much ridicule. The poor artistry and accusations of image theft is something else. I would have bought one for $99 but my heirs insist I leave them something tangible and worth something other than a reminder of what will be an embarrassing and shameful piece of American history.
The statement that he made that these cards reflect his life set him up for much ridicule. The poor artistry and accusations of image theft is something else. I would have bought one for $99 but my heirs insist I leave them something tangible and worth something other than a reminder of what will be an embarrassing and shameful piece of American history.
The Question
Eternal
That's what I think of them. Interestingly, it's exactly the same thing I thought of them before. I'll add this to further elaborate, though: The entire concept of NFTs is a fucking scam. It's like buying "in game currency" in a video game; it has no real world value, but you spend real money to get it. It's a money trap for the gullible. And that's true no matter who produces or sells it; if you buy one, you're giving somebody money in exchange for absolutely nothing, and that's fucking retarded.
jack
The Legendary Troll Kingdom
Trump’s digital trading cards, which are minted on Ethereum scaling network Polygon, peaked on Saturday, December 17 with over $3.5 million worth of trading volume, per data from CryptoSlam. Sales price rose even higher on Sunday, with the NFTsselling for an average of just over $680 apiece, although total volume fell to nearly $1.95 million for the day.
On Monday, however, day-over-day trading dropped 57% to about $836,000 worth of ETH, with the average sale price falling to about $466. Today, the cheapest available Trump NFT up for sale on leading marketplace OpenSea is listed at just 0.21 ETH, or about $255.
Trump launched his digital trading card NFTs last Thursday, with 44,000 of the NFTs selling for $99 apiece in the primary sale. Buyers were incentivized by the possibility of winning a meet-and-greet or dinner with the former president, amid other potential perks. Another 1,000 NFTs were kept back by the project’s creators, for a total supply of 45,000.
Despite widespread mockery and criticism of the project—even from some of Trump’s own supporters—the project sold out within 24 hours and fueled secondary market demand. Since then, the project has racked up over $8.7 million worth of secondary trades.
Momentum peaked over the weekend, with the floor price—or cheapest listed NFT—hitting 0.84 ETH (about $990) on Saturday. Prices rose and fell in a volatile market ahead of the NFTs being skewered on NBC’s late-night comedy show, Saturday Night Live. Just three days later, the floor price has fallen 74% when measured in USD.
Trump’s digital trading cards project is ranked only 10th on CryptoSlam’s list of the top-selling projects over the last 24 hours. It has about $472,000 worth of sales during that span, while the Bored Ape Yacht Club tops the list with $3.8 million worth of NFT sales.
Beyond it being a pairing of already-divisive subjects (Trump and NFTs), the project has also been criticized for apparently using stolen artwork for some of its cards. Furthermore, the 1,000 NFTs kept by the project’s creators appear to contain a disproportionate amount of the “rare” collectibles, prompting further skepticism from NFT observers.
On Monday, however, day-over-day trading dropped 57% to about $836,000 worth of ETH, with the average sale price falling to about $466. Today, the cheapest available Trump NFT up for sale on leading marketplace OpenSea is listed at just 0.21 ETH, or about $255.
Trump launched his digital trading card NFTs last Thursday, with 44,000 of the NFTs selling for $99 apiece in the primary sale. Buyers were incentivized by the possibility of winning a meet-and-greet or dinner with the former president, amid other potential perks. Another 1,000 NFTs were kept back by the project’s creators, for a total supply of 45,000.
Despite widespread mockery and criticism of the project—even from some of Trump’s own supporters—the project sold out within 24 hours and fueled secondary market demand. Since then, the project has racked up over $8.7 million worth of secondary trades.
Momentum peaked over the weekend, with the floor price—or cheapest listed NFT—hitting 0.84 ETH (about $990) on Saturday. Prices rose and fell in a volatile market ahead of the NFTs being skewered on NBC’s late-night comedy show, Saturday Night Live. Just three days later, the floor price has fallen 74% when measured in USD.
Trump’s digital trading cards project is ranked only 10th on CryptoSlam’s list of the top-selling projects over the last 24 hours. It has about $472,000 worth of sales during that span, while the Bored Ape Yacht Club tops the list with $3.8 million worth of NFT sales.
Beyond it being a pairing of already-divisive subjects (Trump and NFTs), the project has also been criticized for apparently using stolen artwork for some of its cards. Furthermore, the 1,000 NFTs kept by the project’s creators appear to contain a disproportionate amount of the “rare” collectibles, prompting further skepticism from NFT observers.
Volpone
Zombie Hunter
There was a thing on Nova a week or two ago on NFTs and crypto that helped me understand the concept. I still don't buy the concept. Although nowdays crypto is just as intrinsically valuable as paper money. So many of the money terms: peso, pound, bhat, yuan... are units of weight. A pound was a coin containing a pound of precious metal (maybe not, but that's the way I understand it). The fact that it was minted into a coin was supposed to be a proof that it had the value it was supposed to have. If you trusted the US government, you knew a nickel contained 5 cents worth of nickel. Then, the original currency, a dollar was a essentially a receipt from the US for that amount of gold or silver. Of course I'm greatly simplifying, but the Thai bhat is a very straightforward example. Thai currency is the bhat, but there is also a cultural thing called a bhat chain. It's a gold necklace men wear. A 1 bhat chain is made of a bhat worth of gold. A 2 bhat chain, 2 bhats, etc. So it is an actual money item.
With crypto an amount of work went into each bitcoin or whatever; banks of computers consumed electricity that was created with oil or wind or whatever to solve a problem. So in theory there is a value behind it. But not in practice. If I have a Bitcoin, I can't go to whoever coined it and exchange it for x number of hours worked and y kilowatts of electricity that they have in a vault. The resource was consumed making the crypto.
NFT is...I dunno, art is a closer metaphor to that. NFT is basically a marker in a digital image that makes it unique. You can copy-paste the image and it looks the same but it doesn't have the marker. So what? Isn't it the same? My favorite art teacher in college once got commissioned to do a run of prints. But through a miscommunication the gallery only wanted 10 of each (for a total of 30). He made 100 of each. So the 30 that went to the gallery got signed and numbered (1 of 10, 2 of 10, etc). The other...270 got signed but are technically "artists proofs" and he sold them to his friends and students for...we'll say $25 each. I'd always wanted some of his art but he was successful enough that I never could've afforded any so I dropped the $75 and got these. The other day I looked up what the numbered ones are selling for and it is crazy. I could become a forger and write "7 of 10" on the bottom of them in pencil and then try to pass them off as one of the numbered prints. Other than that little handwritten number on the bottom, they're identical to the numbered prints, but because they weren't part of that run of 30, they're worth a lot less. (I mean, unless I can convince someone that a "rare lost artist's proof" is actually worth more than one of the documented prints.)
But I'm avoiding work right now. I should be cleaning house and then getting ready to trudge around in the snow and the wind and the cold with my crazy dog for a second time today.
With crypto an amount of work went into each bitcoin or whatever; banks of computers consumed electricity that was created with oil or wind or whatever to solve a problem. So in theory there is a value behind it. But not in practice. If I have a Bitcoin, I can't go to whoever coined it and exchange it for x number of hours worked and y kilowatts of electricity that they have in a vault. The resource was consumed making the crypto.
NFT is...I dunno, art is a closer metaphor to that. NFT is basically a marker in a digital image that makes it unique. You can copy-paste the image and it looks the same but it doesn't have the marker. So what? Isn't it the same? My favorite art teacher in college once got commissioned to do a run of prints. But through a miscommunication the gallery only wanted 10 of each (for a total of 30). He made 100 of each. So the 30 that went to the gallery got signed and numbered (1 of 10, 2 of 10, etc). The other...270 got signed but are technically "artists proofs" and he sold them to his friends and students for...we'll say $25 each. I'd always wanted some of his art but he was successful enough that I never could've afforded any so I dropped the $75 and got these. The other day I looked up what the numbered ones are selling for and it is crazy. I could become a forger and write "7 of 10" on the bottom of them in pencil and then try to pass them off as one of the numbered prints. Other than that little handwritten number on the bottom, they're identical to the numbered prints, but because they weren't part of that run of 30, they're worth a lot less. (I mean, unless I can convince someone that a "rare lost artist's proof" is actually worth more than one of the documented prints.)
But I'm avoiding work right now. I should be cleaning house and then getting ready to trudge around in the snow and the wind and the cold with my crazy dog for a second time today.
The Question
Eternal
Or, to put it another way: no presently existing fiat currency has any more real value than imaginary (digital) "coins."
At this point, tragicomically, the only "money" I can think of that actually does have value is... Monopoly money. Because unlike "real" money, the rate at which it's being overprinted (and consequently devalued) is less.
Loktar
Pinata Whacker
The Question
Eternal
^^I've never watched that film. But the monologue... it's not even a little surprising. Makes perfect sense. From scams to extortion to outright theft, it's all perfectly legal... it's just that the question of what's legal for whom depends only on whether you're writing the laws or renting the cover of those who do.
eloisel
Forever Empress E
I don't know that I would agree that the fiat currency of the US does not have value or has less value than monopoly money and digital currency. I've been looking into investing into crypto currency and it is a weird and hostile subject. It seems the conservative advice is to invest in some - without advice as to which - but not a whole lot - without any idea of what would be a subjective amount. I don't understand yet how to spend it, which is the only reason why I would attempt to acquire it. From what I've heard, though, there are some places in Florida where crypto currency is accepted for payment of utility bills and some government fees. In the meantime I invest in the account I will use to purchase crypto currency should I ever actually do that.
The Question
Eternal
Well, like I said, fiat currency is only as valuable as the government that issues it says it is. I mean, that should be common sense; the quantity and quality of paper, cotton fiber, ink, and metal in a 2022 $1 is no different than that of a 2022 $100 bill. Intrinsically, they have the same value; functionally, the values differ -- but only because the issuing body says they do. Part of the functional value is scarcity -- that's why the Fed flooding the economy with currency devalues the currency. Scarcity = value per unit. That's why copies of the Mona Lisa on Amazon go for $14, but you could never make enough money in your entire lifetime to afford to buy the original -- they can crank out an endless supply of copies, but there will only ever be one original. Scarcity.
The other half of the value equation of fiat currency is the health of the issuing body. For the moment, the United States government is still... relatively functional. That is to say, it hasn't utterly imploded under the weight and rot of its own corruption. Yet. When it does, there won't be a mountain of printed U.S. paper currency big enough to buy you a cup of coffee. And if you don't believe that, try spending Confederate paper money somewhere sometime.
Coinage is a different story, particularly older coinage where the percentage of rare metal it's comprised of is higher. Because physical assets like precious metals and land have real value, as opposed to fiat value.
And that's why NFTs -- and crypto of any other kind -- are for suckers. They have absolutely zero real value. They're for people who are fucking stupid enough to trade the value of real labor in exchange for... nothing.
eloisel
Forever Empress E
I'd still take real resources over fiat anything, but that is because of what can actually be done with those things other than back up paper chits. However, there is a younger generation that puts value in digital things such as crypto currency, digital real estate, NFTs, and other things I have yet to hear of. Some of these people understand and participate in the supersapien culture as well. These are the people that will be running the world in a future I will probably still be alive in, at least for a little while. Can't just dismiss what's coming.
The Question
Eternal
'Not dismissing' it doesn't mean thinking it's a good thing. The Dark Ages were 'change', too.
eloisel
Forever Empress E
Some things it doesn't matter if I think it is good, bad, or indifferent. It is a fact that change is inevitable. I've lived through many changes. The issues revolve on whether I can adapt or if I can just ignore the changes as they don't apply to me.
For the most part, I think I can ignore the supersapien culture as I don't think that it will have evolved enough within my lifetime to benefit me. I don't get thrilled at being able to unlock my doors or start my car with a chip imbedded in my skin.
Digital assets and crypto currency is more of a change that is happening now. Don't want to wake up one day when I'm in my 70s and discover I have no idea how to pay my bills or buy groceries because I don't understand how to use the currency. In a way, I've already adapted to digital currency because I seldom see what I think of as real money anymore. Most everything is auto deposit and auto pay, a tap of a card or a phone.
I think my focus will be on stablecoins as they are pegged to fiat currency such as the US dollar or to commodities such as gold or oil. I would prefer it to be pegged to gold as that is a resource that has value in technology that will be around for a long time to come.
For the most part, I think I can ignore the supersapien culture as I don't think that it will have evolved enough within my lifetime to benefit me. I don't get thrilled at being able to unlock my doors or start my car with a chip imbedded in my skin.
Digital assets and crypto currency is more of a change that is happening now. Don't want to wake up one day when I'm in my 70s and discover I have no idea how to pay my bills or buy groceries because I don't understand how to use the currency. In a way, I've already adapted to digital currency because I seldom see what I think of as real money anymore. Most everything is auto deposit and auto pay, a tap of a card or a phone.
I think my focus will be on stablecoins as they are pegged to fiat currency such as the US dollar or to commodities such as gold or oil. I would prefer it to be pegged to gold as that is a resource that has value in technology that will be around for a long time to come.