Bitcoins are officially donkdown

[gimmick]

The latest crypto related thingies were NFTs, metaverse and pay to earn games.

In the early days at first glance NFTs seemed like something that could help digital artists monetize their craft if they worked outside of commercial art. That did not work out. Today most NFTs are procedurally generated crap with some of them having some value as an asset in gaming environments. Since everything costs a fuckton in the blockchain, they are mostly just links to traditional web addresses. Handful of NFTs that include anything IP related in their smart contract are as secure as your ownership of the related NFT. Someone steals your NFT and you lose your reproduction rights. It's amazingly retarded. Think of Walt Disney owning a statue of Mickey Mouse that at the same time holds all rights to use that character.

Metaverse for the most part only uses crypto as an asset and currency. Say land rights or whatever in a virtual world that may someday be used. In case, if you're wondering how scarce virtual real-estate is, the correct answer is that it isn't. There's absolutely no reason to include crypto to any VR project. Any competent developer that's looking to build an MMO, chatroom or a marketplace in VR gives zero fucks about blockchain. There's nothing decentralized in those projects and there's no reason they don't just use their own currency. DEFI doesn't make those projects any safer. Usually the opposite and any related real-estate/currency only has value as long as the project remains popular. Devs can and will pull the plug the minute they feel like it.

And then pay to earn. TBH i don't know what the fuck that is. Or that i would be surprised if it wasn't just another shitty MMO with gold farmers from 3rd world countries with an additional layer of bullshit. Value of game (and assets/currencies) is heavily tied to it's popularity. Ever since forever there have been gold and item selling in online games. Some in-game and some in 3rd party sites. The running theme with most crypto based pay to earn games is that they are just shittier versions of existing games.

Most crypto projects are just variations of Seals with Clubs.

[DukeCaboom]

Hi all, I like to think of BTC this way, and how I explained it to my 80 yr old mom.
"Bitcoin is kind of like digital gold if all the gold was already mined and there was only a set amount of gold that would ever exist."

I think this explanation is simple and to the point.

Yes, I understand that BTC is still being mined, but bitcoin will max out at 21 million bitcoin.
Now, its still to early to say if the world will think BTC is worth using or keeping for some "store of value" reason. One can limit anything to 21 million but that doesn't mean anyone will think BTC is worth anything.

[Sanlmar]

@ Tellafriend & my new convert Daly

Fed's Powell: a U.S. digital dollar could help maintain international primacy
https://www.reuters.com/markets/us/f...source=twitter


No disaster will be squandered in the pursuit of tyranny.

Worst development since Bush era Patriot Act and Stellar Winds.

Nobody gives any fucks which makes for a smoove runway.

[Sanlmar]

In before Druff, “I got nothin’ to hide”

[BetCheckBet]

The latest crypto related thingies were NFTs, metaverse and pay to earn games.

In the early days at first glance NFTs seemed like something that could help digital artists monetize their craft if they worked outside of commercial art. That did not work out. Today most NFTs are procedurally generated crap with some of them having some value as an asset in gaming environments. Since everything costs a fuckton in the blockchain, they are mostly just links to traditional web addresses. Handful of NFTs that include anything IP related in their smart contract are as secure as your ownership of the related NFT. Someone steals your NFT and you lose your reproduction rights. It's amazingly retarded. Think of Walt Disney owning a statue of Mickey Mouse that at the same time holds all rights to use that character.

Metaverse for the most part only uses crypto as an asset and currency. Say land rights or whatever in a virtual world that may someday be used. In case, if you're wondering how scarce virtual real-estate is, the correct answer is that it isn't. There's absolutely no reason to include crypto to any VR project. Any competent developer that's looking to build an MMO, chatroom or a marketplace in VR gives zero fucks about blockchain. There's nothing decentralized in those projects and there's no reason they don't just use their own currency. DEFI doesn't make those projects any safer. Usually the opposite and any related real-estate/currency only has value as long as the project remains popular. Devs can and will pull the plug the minute they feel like it.

And then pay to earn. TBH i don't know what the fuck that is. Or that i would be surprised if it wasn't just another shitty MMO with gold farmers from 3rd world countries with an additional layer of bullshit. Value of game (and assets/currencies) is heavily tied to it's popularity. Ever since forever there have been gold and item selling in online games. Some in-game and some in 3rd party sites. The running theme with most crypto based pay to earn games is that they are just shittier versions of existing games.

Most crypto projects are just variations of Seals with Clubs.

This this this::: like absolutely so spot on.

As a gamer you are totally right about play to earn. There is a saying in mobile gaming first you develop a profit plan then you develop a game around that. Play to earn crypto is this on crack. They are barely considered games and might as well be slot machines. Often the very worst type of loot box shit.

I’ve been planning on making another post to update the polker thread. I read their telegram channels everyday and it’s been enlightening to see just what a fucking scam it is. And keep in mind they are on the up and up compared to 95 percent of the other crypto stuff. For instance staff uses real full names as opposed to anonymous account which is 95 percent of crypto.