Treasure Chess, NFTs and How to Opt Out
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Now sure the way NFTs work might be different however the reason people by them is mostly the same reason as art.
Apr 23, 2022
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#22
M1m1c15 wrote:
So, in your words, art is the same way, some people pay 100s of millions for a painting. Is that greater fool theory too?
Art generally has some kind of intrinsic value, although it can be hard to put a price on. There's something there - a painting we can hang on a wall, music we can listen to etc. We enjoy looking at a painting, so it follows that someone else might too. There are certainly those that buy art for inflated prices hoping to later find a greater fool to sell it to, but the art itself at least still has some value.
NFTs are just a cynical attempt to make money. Its a scam. You don't really own anything. An NFT of a picture is just an entry on a blockchain that claims you own a hash of something - a tweet, a JPG, a chess PGN etc. There's no value there unless you can con someone else, and you don't really own it. Anyone can just copy the JPG etc. It's like selling certificates to gullible tourists saying they own a piece of the Brooklyn Bridge.
Ok then, same thing with your money in the bank. It’s just some numbers on a screen, not worth a thing.
Apr 23, 2022
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#24
M1m1c15 wrote:
I can’t click links, my parents took the browser off my phone. Why don’t you explain it to me.
You seem to think you know a lot for someone who can't even use google search...
NFTs are completely digital items, they can only exist online on specific blockchains in digital wallets. Anyone can just create one and sell it, their value doesn't come from how good-looking it is, or how much effort an artist put into it.
You can't hang up your NFT, or really admire the hard work put into it.
Apr 23, 2022
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#25
M1m1c15 wrote:
Ok then, same thing with your money in the bank. It’s just some numbers on a screen, not worth a thing.
Well you clearly know that not to be true, why do you ask silly questions?
Same thing with all that money you have online in the bank. I can use google just not right now because I don’t have my computer
How is it different? It’s just numbers.
Apr 23, 2022
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#28
For example, a celebrity actioned off his tweet for 2.9 million dollars
Something is clearly wrong here
Apr 23, 2022
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#29
M1m1c15 wrote:
Ok then, same thing with your money in the bank. It’s just some numbers on a screen, not worth a thing.
If people lose confidence in the currency, then yes. History is littered with examples of currency crashes.
https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic
It got to the point where people were burning the currency to keep warm.
Apr 23, 2022
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#30
M1m1c15 wrote:
How is it different? It’s just numbers.
Like I said, you know that not to be true, so don't ask silly questions. Put some thought into it instead of asking to be spoon-fed everything about currency...
Apr 23, 2022
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#31
ShouldBreezi wrote:
For example, a celebrity actioned off his tweet for 2.9 million dollars
Something is clearly wrong here
Yep. And now the buyer is trying to sell it and can't :-)
You really have a biased argument hear, you say owning something online isn’t really meaningful but the second I bring up the money you have online in the bank your story changes.
Apr 23, 2022
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#33
M1m1c15 wrote:
You really have a biased argument hear, you say owning something online isn’t really meaningful but the second I bring up the money you have online in the bank your story changes.
Which would you rather have - a million NFTs or a million dollars? One will buy you food, pay your rent, buy a car, buy a business that can make you more money. The other... not so much.
Depends on the NFTs. And why can’t the NFTs make me money? People buy NFTs
Apr 23, 2022
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#35
M1m1c15 wrote:
Depends on the NFTs. And why can’t the NFTs make me money? People buy NFTs
I'm not sure I've ever asked you this - Are you JackRoach? He liked to argue a lot too.
You should know by this point that I like to argue
Why not just have a time machine to go back to 1700s and go to Europe for REAL ART
Do you have a Time Machine?
Apr 23, 2022
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#39
M1m1c15 wrote:
You should know by this point that I like to argue
Not very well, you keep asking the same idiotic questions repeatedly...
M1m1c15 wrote:
Now sure the way NFTs work might be different however the reason people by them is mostly the same reason as art.
Buying expensive art is an excellent way of tax evasion in many countries, including the US amongst others. Not to mention the private deals that take place behind closed doors; just excellent for money laundering! 
There's a reason you see insane amounts of money being offered fro weird artworks at Sotheby's and Christie's.
NFTs fall in the same category. NFTs transaction are somewhat be more traceable, but the market's unregulated overall so that's not a big problem.
Simply, there's not much in it for common man.