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Re:Charlie Bit My Finger video to be taken off YouTube after... by benlivengood on Tuesday May 25, 2021 @03:05PM (#27280993)
It's righteous anger at a waste of resources and critical lack of understanding.

NFTs aren't commodities or assets, they're just conspicuous consumption. Dramatically showing off how much money a person can waste on an illusion is cringe-worthy. It makes me annoyed in the same way pay-to-play games annoy me.

Re:Charlie Bit My Finger video to be taken off YouTube after... by idoh on Tuesday May 25, 2021 @06:09PM (#27283363)
Agreed, and it's a very weird type of conspicuous consumption. You can't really hang the NFT on your wall, or drive up to a fancy dinner in an NFT. I guess you can brag about it?
Re:Charlie Bit My Finger video to be taken off YouTube after... by benlivengood on Tuesday May 25, 2021 @09:49PM (#27285197)
NFTs are the sole value they encode, ala cryptokitties. NFTs that people pretend are related to real-world objects are basically Moon or Florida[1] real estate.

[1] https://en.m.wikipedia.org/wiki/Swampland_in_Florida

Re:Charlie Bit My Finger video to be taken off YouTube after... by oneeyedpigeon on Tuesday May 25, 2021 @07:24PM (#27284092)
I don't get how you can even brag about it. You can't say "I own this piece of art", you have to say "I own a pointer to this piece of art". And even that could end up a null pointer on somebody else's whim.
Re:Charlie Bit My Finger video to be taken off YouTube after... by B1FF_PSUVM on Tuesday May 25, 2021 @06:48PM (#27283763)
Don't they have a trophy wall in Instafachatwiktok?

They should.

Re:Charlie Bit My Finger video to be taken off YouTube after... by randyrand on Wednesday May 26, 2021 @01:53PM (#27293823)
the wealth is just transferred. not used.

You should be concerned about where society consumes resources. labor. concrete. gold. machine time. These things, in a given year, have limited supply.

You should not be very concerned about society consuming dollars - which is impossible to do (apart from burning it or fed decisions). Dollars are often a useful proxy for resources, but are not intrinsically linked. In the case of NFTs, the stock market, etc, they don’t consume as many resources as the large dollar figures would imply.

Yes there is some electricity use, I know. etc.

Point being, a wealth transfer does not consume resources. Carry on.

Re:Charlie Bit My Finger video to be taken off YouTube after... by donatj on Tuesday May 25, 2021 @06:13PM (#27283399)
> they're just conspicuous consumption

I mean aren't they arguably also wealth redistribution from the stupid-enough-to-buy-an-nft to the insanely-lucky?

This is going to put Charlie through college no doubt.

Re:Charlie Bit My Finger video to be taken off YouTube after... by benlivengood on Tuesday May 25, 2021 @09:43PM (#27285163)
That's about as good as lotteries which I also find cringe-worthy.
Re:Charlie Bit My Finger video to be taken off YouTube after... by UncleMeat on Tuesday May 25, 2021 @03:57PM (#27281803)
Yup. Especially since a lot of people have made gazillions in crypto for doing no labor so spending this sort of “funny money” as a lark is a frustratingly common occurrence.
Re:Charlie Bit My Finger video to be taken off YouTube after... by merpnderp on Tuesday May 25, 2021 @06:11PM (#27283381)
Why must they do labor to earn money? If I mow lawns for a summer, then invest in a lawn mower which I then lease out to someone else to mow lawns, am I not entitled to the lease money because I'm not doing the labor?

Investing the fruits of one's labor is widely considered a human right, and is even explicitly listed in the Declaration of Human Rights. And hedging ones investments with gold, silver, bonds or crypto is not an unreasonable thing to do.

Re:Charlie Bit My Finger video to be taken off YouTube after... by UncleMeat on Tuesday May 25, 2021 @06:32PM (#27283585)
Striking it rich on doge or whatever is still meaningfully different than investing in rentals.