Imagine if Kira just started backing a single NFT company, with all the "hate" he has pushed on all the other companies it would probably lead to a load of people buying it because if Kira thinks it is good it would have to be. He could totally make a quick buck that way lol.
I used to feel sorry for the people that get scammed on those things... Not anymore. It's not new, it's not novel, it's been done so many times already, and people keep falling for it? Fool me once, shame on you. Fool me twice, I'm a cryptobro.
@@hughjanus2935 an uncle did this shit with scams he would get in make money leave and see everything burn a month or so after xD did this for years until he got too involved in one and almost get jail time then he started actually working on stocks.....the family dont talk to him anymore....pretty sure he is involved in this shit I can see it happening
For a lot of people it is new and it is novel. All you're demonstrating here is that you have difficulty seeing this from other perspectives than your own. Also bear in mind that "it's their own fault for being stupid" is literally what every scammer tell themselves. Don't become that guy, or even one who sympathizes with that guy.
@@dymaxion3988 Especially with recent financial troubles around the world and people pushing Crypto as a way to make a lot of money, new people get in thinking it’s a gold rush and get rekt hard.
The idea of an NFT community freaking out when a rug pull happens is hilarious to me, because chances are everyone that got scammed was told multiple times that NFTs are a scam.
Peddlers. Call them Peddlers. They aren't just trying to 'influence' people, they're trying to sell them things. Also, never forget Soulja Boy bought out the Atari Coin crypto because he thought he was buying Atari, the game company, and rendered the coin useless as the soul owner.
What I find interesting about NFTs, is that scam/rug pull is currently more the rule than the exception, and AAA game developers are so very eager to associate themselves with a technology that is currently widely viewed as misleading people to spend money on something that never materializes. It's like their silent way of acknowledging how they hype up all these games and release them in completely broken, unfinished states, then abandon them. On second thought, that sounds like a match made in heaven.
It idnt the developers (the ones actually making the games) that are trying to push MFTs in games, it's management (usually upper management/corporate). The incident with Team 17 and the mess going on inside of Ubisoft reflect that.
Not dev studios, publishers/producers are. Same for music, movies etc. The folks making the real money out of the things we love (i.e. the capitalists/financiers not the people who make them) are the ones looking at NFTs as a way to make more money.
Yes, AAA gaming industry screws us every year with broken games and we line up to buy their next game, no wonder they think they can scam us with NFTs....
I think the bigger game devs are looking at it entirely differently. I think they are looking it as a way to recover something they once had, but lost due to government regulators and external liabilities... that thing being RWT (real world trading). In MMO's heyday, people were farming for rare loot and selling it in big after-market stores, which collimated in diablo 3's failed marketplace. The failure was not as much internal, as it was external, driven by a combination of government regulators and increasing pressure from merchant service providers suing for chargebacks claiming the credit cards were stolen. I think most companies realize that NFT's would give them this back, isolating them from liabilities related to the aftermarket sale of said assets.
It’d be fun to be a fly on the wall of their communities before, during and after the rugpull just to see their mental states. Because this is just stupid
That’s why it’s up to us to not blame the fucking victims. We should be tearing the assholes who pull this kinda shit to bits. Smart enough to scam but with none of the humility to see why it’s a bad fucking idea.
@@fixitfelix718 I mean, there are people who get rich with MLM's, that doesn't mean joining an MLM is a good idea. It's just idiots scamming other bigger idiots. I always find it very unimpressive when someone brags about getting rich with shit like this. It's like ok, you found people dumber than you to give you money, you are the king of dumbasses, congrats I guess...
Yep everyone who tries those scams should either be fined so much they’ll never financially recover from it or they should get at least 10 years jail time. Most often they try to manipulate little children and teenagers due to online gaming which should be punished extremely hard!
A pump and dump is illegal, so these people could be prosecuted but someone has to report it to the police and then the police have to try and work out if it's worth investigating. Everyone did get their NFTs after all; they just lost value. That happens in IPOs for normal companies all the time.
Useful context: It is illegal in the United States to fail to disclose that you were paid or compensated (free stuff, etc) for a promotion. After Fyre Fest (where a lot of people failed to disclose compensation and pay), the Federal Trade Commission hit a bunch of people with fines.
Good ol’ Uncle Sam. Won’t do anything about the scam as it’s happening or save the people stranded on a desert island, but jumps at chance to muscle in for a cut of the action.
@@mushyroom9569 They'll do something real fast when it's them(The IRS) getting cheated though one of these NFT scams they didn't pay taxes and got the IRS on them and would you know the 2 scammers went to jail real fast after that 😂
The difference between naivety and idiocy. The naive person will stick their hand in the fire once and the idiot will continue to stick their hand into fire.
South Parks take on NFTs was hilarious but this is just sad. They aren't making a "NFT Game", they just want your money and will close the project once collected.
It’s obvious a lot of these scammers think what they’re doing is legit because they don’t disappear as soon as they take the money or have any kind of exit strategy at all. It’s like they think they found a way to get rich quick and don’t understand why it works.
@@jajiradai6069 Like with all speculation, they think they're smart enough to bail before the pop, but NFT schemes don't even stick around. They do the rug pull immediately, so those hoping to get rid of the hot potato find out it was covered in crazy glue.
It seems that they believe that since there are no laws regulating NFTs yet that they are immune to lawsuits or fraud investigations. I think they will be surprised, even if NFTs themselves are the Wild West right now it still is illegal to sell people things you never plan to provide.
@@Virtualblueart Some of these kids with basic programming knowledge and art skills plan only as far as the bank heist, and when it works out, they're all standing in the lobby looking at eachother: "Where's the getaway driver?" And realize they didn't plan that far. That being said, I'm thinking back to things like CSGO Lotto scam, where the guy got a slap on the wrist. Paid a fine, amounting to far less than Treyvon - the guy running the scam, made. And he didn't even disappear off the net. His business didn't get affected at all. If you can break the law and the regulatory punishment is less than the criminal proceeds, they do it willingly and strategically. Banks get fined all the time for malpractices. They also get fined. It's also peanuts in comparison to what they get away with. NFT's are an attempt of amateurs to play like the big boys. Without the experience, support infrastructure and kickbacks in all the right places.
Yeah I mean what part of this is even a scam? They bought pictures of monkeys and now they have pictures of monkeys. The money was gone when they clicked "buy"
It wasn't a failure for the people who ran it. They made money. The only failure is when the people dumb enough to buy jpegs failed to make a good financial decision.
Not long term. Crypto and NFTs have increased money laundering exponentially. And money laundering always comes at the expense of the average taxpaying joe.
@@Crypted112 that's why I included the word longterm. Short term it's great for entertainment and teaching a lot of naive young people about dubious investments. I just don't think that the benefits in this case outweigh the drawbacks. Let's wait 3-5 years and then evaluate the damage for society at large.
I think the whole apes thing is a reference to the “Apes together strong” meme that got popular on Wall Street Bets back during the GameStop squeeze. It was maybe mildly funny back then, but NFT culture killed the meme harder than harambe. Now the ape jokes feel like they have no soul.
are u telling me Bradley Martyn the most natty bodybuilder who trains only the most natty influencers and totally dont do steroids. would lie and scam his fans? shocked
The silver lining is, the more of these scams that gets exposed, the more distrust will be garnered for NFTs, and the closer we'll be to the day where are so widely vilified that they become irrelevant
At this rate there's a hefty chance they may be outlawed before they die organically. Either's good though. What these rug pulling crypto morons don't realise though is that every single one of these actions draws people like tax departments and governments closer to doing something.
@@crunchyfrog555 they SHOULD outlaw them at this point there are way more scams than not....I really dk wtf the people investing are thinking with so many scam projects still getting funded
These NFT people are cult-like, they would fight tooth and nail for it. Basically, If there are no new people, how would they inflate the value? Hence the cult-like behavior when it comes to defending and recruiting. An absolute modern pyramid scheme.
@@Sm0ke821 I think it's because a lot of it is young naive people (maybe even children trying ahrd to be grown up). They bunged money in crypto, and earned a lot of money from that. Now they don't know what to do with it (because getting it out to be actually usable involves interest from tax authorities). So those with some smarts are creating scams to suck funds from others who made money and the dumb kids on the bottom are buying these pathetic NFTs because they see it something to spend their money on and perhaps keep making money. Not far short of MLMs or other scams really - dumb twats at the bottom and dumb cunts at the top but with a small amount more smarts to be one step ahead.
Very well, fine gentlemen. The men in blue shall discharge you from your position and will trasladate you to your retirement zone after the tramitation is done. You don't need to buy a plot to live in the land you gained access to with the power of NFT, son.
I think the people that stick around just recognize the potential, despite it having been taken over by scams and jokes. They are there for the "could be." Not the "what is"
@@elbruces thats not true. Since this posting, many of the scammers have been caught thanks to the open nature of the block chain. The police/redditors just followed the money. The point is to have a decentralize bank to rid ourselfs of the scum that syphon value off of everything and stack the game in their favor.
How the fuck do these people have the money to begin with? One's gettin' their ass educated to get the penny and then there's fucking Tristan thinking he bought Mona Lisa but got Mona Lista
When the Hell will someone get to making the "Dutch Tulip NFT"? Goddammit! Smelling salts nft, cat poop nft, nft of nft, money baby, buy my Dutch tulips! Ty Kira, :D
NFTs are pointless imo but I've made money on crypto, you can't just buy a coin that's hitting ATHs and expect it to double/triple. Some people don't know how to invest period and then start making fun of those who do.
@@aj897 If those people did know how to invest you wouldn't have made money. It's what a zero-sum game means. You made money because someone else lost it by trading poorly (or because you were lucky). At optimal play it's just about the luck of the draw because there are way more factors than we can consistently predict. So no amount of "but I've made money" will ever justify buying crypto.
Other primates are not “unevolved”, they simply fill a different ecological niche. Please do not disrespect our non-human cousins. It just doesn’t make sense. They’re out there eating bugs with a stick and don’t have to stress out about completely made up shit like NFTs.
Ok, so what I’m learning is rule #1 of NFTs... never be,over that anything beyond the token itself is guaranteed. You get the token and that’s it. Any other supposed service should be considered ‘never gonna happen’.
I recently worked for a team of NFT creators who were rug pulled by their developer. I picked up all the pieces and reworked their project back together. They are now listed on magic Eden. But it's horrible how many people are getting scammed for these type of projects.
This all just sounds like a Nigerian prince who's looking to give you millions if you can just give him your bank info so that he can deposit the money. A fool and his money are soon parted...
More than you know: 419 Scammers - the name given to those overwhelmingly Nigerian email scammers - aren't stupid, and deliberately put in spelling mistakes and other obvious errors to drive away those are skeptical. They only want to get responses from the most gullible. NFT/Crypto pumps use exactly the same techniques.
In the US, full disclosure of sponsored content must be made by the content creator or influencer according to the FTC. Truth in advertising also comes into play as well.
It's fun how people keep buying into nfts when there is no way that there will be another BAYC. The ship has sailed, everything else is just a shitty copy and regardless of the intent of the creators, they will never go "to the moon." The success of BAYC is based on irrational exuberance - the smarter people in finance are starting to understand what NFTs are and are actually assessing their worth.
This is exactly what I see happening on the very coins that are used to trade these. Once the money gets into the tens of billions, the people pumping it up, trading back and forth to each other, are going to rug pull the entire coin.
You wanna be richer than everyone else on the internet? All you need is to do nothing! Let them fall in scams and lose all their money while you keep yours. Victory!
The over whelming majority of rug pulls are on the eth/solana networks. This is because the communities are exceptionally gullible and the tools to build NFTs on those networks are easy to use. Its like trying to scam someone with an iphone. Anyone willing to pay a $100 gas fee is ripe to be scammed. Anyone with a semblance of experience in the space can spot these rugs a mile away.
Influencers be like: "I want to retire, how should I do so?" A: Save up money and build up a retirement savings plan? B: Completely destroy my reputation by scamming my followers out of hundreds of thousands of dollars using a technology no one really understands?
KiraTV: "What do influences do?" My rotten brain : "They sing a little song and influence you..." I love videos analizing all these scams, they are fun
Since I watch this channel that's talks about NFTs alot, I now get several ads for NFT projects. On one hand I have to deal with shitty annoying ads. On the other...these are pretty funny videos.
I never understand this whole "influencer" thing, now maybe I'm too old and/or cynical but the only advice I will take from any random person on the internet (especially TH-cam) is from a plumber. For when I'm looking up ways to unblock the bog after one of my particularly large (not enough fibre) dumps. The whole NFT thing reminds me of a quote by Henry Miller... "When shit becomes valuable, the poor will be born without arseholes." Although in this case it seems to be brains.
Not everyone is lucky or experienced enough to have a solid sense of self, nor do most have the wherewithal to properly reflect. When you’re young and passionate, you’re vulnerable. Don’t make the mistake of looking at the victim. Direct your ire at the asshole who has the sheer fucking arrogance to think that telling people lies and then absolving themselves of the consequences is an okay way of making money.
Apes are a focus due to the Gamestop period, were the meme "Apes together strong" was used to represent the mainsteam framing of gamestop holders as idiots (apes) that were messing with the "big guys". An underdog meme, if you will
People have this weird attraction in gorillas, there was this odd wave during the silver age of comics where they'd just make a story somehow involving gorillas, and this was, for some reason, extremely popular, so much so that writers were forced to continue to include gorillas to sell issues
I could be wrong about this - I believe the popularity of Apes comes from Reddits wallstreetbets and the 'meme stock' stuff from earlier 2021. The redditors called themselves 'dumb apes' holding things 'to the moon'' I believe cypto and NFT pushers have adopted similar terms to create the same sentiment
No question the shills and the owner stealing all the money is bad.... but who the hell is buying this NFT's, very hard to feel anything for people who lost money on NFTs.... pretty much anything 99.99999% that have NFT anywhere in their project is scam and just after your money....
Doing great work here, Kira. Helping give otherwise trusting, earnest people a bit of wisdom or at least awareness of the pitfalls of shiny new tech. Get rich quick schemes depend on most people participating not getting rich, so that a few can.
But wait, isn't the whole point about NFTs that they're valuable because they're limited and thus rare ? Surely, if they burnt half the NFTs, there's even less of them, making them more rare. Why aren't they doubling in price then ?
when minting the price for each is a set price, in this case it was 0.15 to mint one. people believed there was 8000x0.15 in circulation , so burning half would not trigger a pricedrop if it was done in secret. thing is, you cant do much in secret on a blockchain, people tracked the wallets and figured out what was happening, thus in a panic everyone was willing to sell their apes at super low prices just to get out, thats where they at now
They are sold to raise funds for a “goal” or “dream” so by stopping mid way they basically admit they are not even trying to get the funds required for there goals. Also were they burned because not enough people were buying them. So by doing the burn they also showed to the world that there NFT are not popular. Would you pay a lot for a “rare” item that is neither popular or trustworthy?
Trust is like a vase. Once you break it, it'll never be the same again. Sure, you may be able to mend it, but it'll always be ugly, a little more fragile, and you'll never be able to completely undo the damage.
I just can't anymore.... As a scientist I'm struggling to survive every month, earning like 470 bucks per month, most of it goes for rent. And people just get rich left and right doing nothing. I just can't watch these anymore.
I give myself the small comfort that its all gambling, and eventually the house always wins. I just hope the house burns down sooner rather than later.
I'm truly considering creating some obvious scam NFT, maybe "you got scammed" jpegs in different colours? Those people just want to scammed, lets make it easy for them...
Would be interesting to do a case study on incidents where the burn address way later after some coin has died down suddenly had outgoing transactions. It seems likely that the burn address is not actually inaccessible. The entire concept of burning seems quite flawed. "Mint `X` coins, burn `X × fraction` of them, they are now rare, value goes up."
with the amount of consecutive rugpulls recently, you'd expect people would be a lot smarter when dealing with this stuff, but somehow millions still get poofed
nfts were setup as a scam from the start 10 rich people got together and thought this up over phone calls. crypto was already sketchy as hell this is way worse.
If the general consensus is that NFT’s are scams, why people continue to spend money to get scammed? I can’t wrap my head around what the thought processes are here. Or how people can be so consistently be dense to be influenced, or convinced in a way that mimics the mad monk himself.
"I wish I could be paid that much for doing scummy things."
Actually, you probably could, you just *have to do scummy things.*
True
welcome to the unites states of america, mind your wallet
@@KiraTV1 NFTs and crypto as a hole is nothing more then a scam
He could make pictures of scams he have covered, sell it as nft's, then rug pull and cover it on KiraTV
Imagine if Kira just started backing a single NFT company, with all the "hate" he has pushed on all the other companies it would probably lead to a load of people buying it because if Kira thinks it is good it would have to be. He could totally make a quick buck that way lol.
I used to feel sorry for the people that get scammed on those things... Not anymore. It's not new, it's not novel, it's been done so many times already, and people keep falling for it? Fool me once, shame on you. Fool me twice, I'm a cryptobro.
The cryptobros are deluded enough to think they can make money before the rug gets pulled
@@hughjanus2935 an uncle did this shit with scams he would get in make money leave and see everything burn a month or so after xD did this for years until he got too involved in one and almost get jail time then he started actually working on stocks.....the family dont talk to him anymore....pretty sure he is involved in this shit I can see it happening
These idiots know its a scam, they just want to be part of the pump when they're actually the dump.
For a lot of people it is new and it is novel. All you're demonstrating here is that you have difficulty seeing this from other perspectives than your own. Also bear in mind that "it's their own fault for being stupid" is literally what every scammer tell themselves. Don't become that guy, or even one who sympathizes with that guy.
@@dymaxion3988 Especially with recent financial troubles around the world and people pushing Crypto as a way to make a lot of money, new people get in thinking it’s a gold rush and get rekt hard.
The idea of an NFT community freaking out when a rug pull happens is hilarious to me, because chances are everyone that got scammed was told multiple times that NFTs are a scam.
I did my part man, always told them the truth, but protecting a idiot's finance is a job for a even bigger idiot soo I dont even laugh
"Oh if ONLY someone had told me a few hundred more times this was a scam!"
"I don't have the mental maturity [winky face]" Guess he's not going to Cryptoland then
I just can't believe they are getting scammed left and right and they KEEP buying that kind of shit. .................
Peddlers. Call them Peddlers. They aren't just trying to 'influence' people, they're trying to sell them things.
Also, never forget Soulja Boy bought out the Atari Coin crypto because he thought he was buying Atari, the game company, and rendered the coin useless as the soul owner.
Selling things, or peddling things, is perfectly legal and morally fine.
"Soul owner" Not the time to laugh but did
@@elbruces are you flexing bro? you know for sure what dragon meant
@@talesdemidioful He said people should use a different synonym because they're bad.
Souljacoin
What I find interesting about NFTs, is that scam/rug pull is currently more the rule than the exception, and AAA game developers are so very eager to associate themselves with a technology that is currently widely viewed as misleading people to spend money on something that never materializes. It's like their silent way of acknowledging how they hype up all these games and release them in completely broken, unfinished states, then abandon them.
On second thought, that sounds like a match made in heaven.
It idnt the developers (the ones actually making the games) that are trying to push MFTs in games, it's management (usually upper management/corporate). The incident with Team 17 and the mess going on inside of Ubisoft reflect that.
Not dev studios, publishers/producers are. Same for music, movies etc. The folks making the real money out of the things we love (i.e. the capitalists/financiers not the people who make them) are the ones looking at NFTs as a way to make more money.
Yes, AAA gaming industry screws us every year with broken games and we line up to buy their next game, no wonder they think they can scam us with NFTs....
I think the bigger game devs are looking at it entirely differently. I think they are looking it as a way to recover something they once had, but lost due to government regulators and external liabilities... that thing being RWT (real world trading). In MMO's heyday, people were farming for rare loot and selling it in big after-market stores, which collimated in diablo 3's failed marketplace. The failure was not as much internal, as it was external, driven by a combination of government regulators and increasing pressure from merchant service providers suing for chargebacks claiming the credit cards were stolen. I think most companies realize that NFT's would give them this back, isolating them from liabilities related to the aftermarket sale of said assets.
Paying for an NFT is like buying a certificate proving you're stupid.
I just hope that their community can heal and rebuild so that the scammer staying behind to run it can scam them again.
It’d be fun to be a fly on the wall of their communities before, during and after the rugpull just to see their mental states. Because this is just stupid
No, they should learn to don’t do this again…
@@iBaudan Should, but if they don't I have an NFT of the worlds smallest violin to sell them.
It's depressing how easy this is.
+ zero consequences, it's a promise land for scammers
That's why so many people jump in and start their own scams
That’s why it’s up to us to not blame the fucking victims. We should be tearing the assholes who pull this kinda shit to bits. Smart enough to scam but with none of the humility to see why it’s a bad fucking idea.
@@vladoportos The 1% are making boatloads more than the scammers trust me, and that is why we don't have "regulation" yet.
Let's sell our own but, hear me out, we find a way to make it not a scam
Like, they come with gift cards or some crap
Thank god for NFTs, they let me spot out idiots quickly
yeah XD
@@fixitfelix718 ya sure, and my cousin got 4 wheels, and is racing with lightning mcqueen in circles all day =)
@@fixitfelix718 does he also fly and shoot laser beams?
@@fixitfelix718 My cousin is the President of Mars
@@fixitfelix718 I mean, there are people who get rich with MLM's, that doesn't mean joining an MLM is a good idea. It's just idiots scamming other bigger idiots. I always find it very unimpressive when someone brags about getting rich with shit like this. It's like ok, you found people dumber than you to give you money, you are the king of dumbasses, congrats I guess...
There is a serious lack of consequences for these snake oil salesmen.
Good reference. This was actually a big thing in the 18/19th century (: RDR also came up with a mission regarding this fraud.
Yep everyone who tries those scams should either be fined so much they’ll never financially recover from it or they should get at least 10 years jail time.
Most often they try to manipulate little children and teenagers due to online gaming which should be punished extremely hard!
A pump and dump is illegal, so these people could be prosecuted but someone has to report it to the police and then the police have to try and work out if it's worth investigating. Everyone did get their NFTs after all; they just lost value. That happens in IPOs for normal companies all the time.
Useful context: It is illegal in the United States to fail to disclose that you were paid or compensated (free stuff, etc) for a promotion. After Fyre Fest (where a lot of people failed to disclose compensation and pay), the Federal Trade Commission hit a bunch of people with fines.
I just looked up Fyre Fest and wow, it was 5 years ago. Time flies.
Good ol’ Uncle Sam. Won’t do anything about the scam as it’s happening or save the people stranded on a desert island, but jumps at chance to muscle in for a cut of the action.
@@mushyroom9569 They'll do something real fast when it's them(The IRS) getting cheated though one of these NFT scams they didn't pay taxes and got the IRS on them and would you know the 2 scammers went to jail real fast after that 😂
NFTs will forever be the dumbest scam that people ever fell for.
You'd be surprised lol
The old addage "I have a bridge to sell you" will not change lol
The difference between naivety and idiocy.
The naive person will stick their hand in the fire once and the idiot will continue to stick their hand into fire.
It's always "community driven" that way when it goes wrong they can blame the community for not being passionate enough
The old Megaman Legends 3 approach.
South Parks take on NFTs was hilarious but this is just sad. They aren't making a "NFT Game", they just want your money and will close the project once collected.
it's like every single NFT project is a scam to not be trusted or something
I am shocked at that statement! There is no way a technology as useful as an hyperlink would ever be used to scam people!
Gasp!
check catharsis | no motto
It’s obvious a lot of these scammers think what they’re doing is legit because they don’t disappear as soon as they take the money or have any kind of exit strategy at all. It’s like they think they found a way to get rich quick and don’t understand why it works.
To be fair, I don't understand why shouting "NFT" causes people to throw money at obvious scams either. But here we are.
@@jajiradai6069 Like with all speculation, they think they're smart enough to bail before the pop, but NFT schemes don't even stick around. They do the rug pull immediately, so those hoping to get rid of the hot potato find out it was covered in crazy glue.
People like to gamble but this game is fixed.
It seems that they believe that since there are no laws regulating NFTs yet that they are immune to lawsuits or fraud investigations.
I think they will be surprised, even if NFTs themselves are the Wild West right now it still is illegal to sell people things you never plan to provide.
@@Virtualblueart Some of these kids with basic programming knowledge and art skills plan only as far as the bank heist, and when it works out, they're all standing in the lobby looking at eachother: "Where's the getaway driver?" And realize they didn't plan that far. That being said, I'm thinking back to things like CSGO Lotto scam, where the guy got a slap on the wrist. Paid a fine, amounting to far less than Treyvon - the guy running the scam, made. And he didn't even disappear off the net. His business didn't get affected at all. If you can break the law and the regulatory punishment is less than the criminal proceeds, they do it willingly and strategically. Banks get fined all the time for malpractices. They also get fined. It's also peanuts in comparison to what they get away with. NFT's are an attempt of amateurs to play like the big boys. Without the experience, support infrastructure and kickbacks in all the right places.
"Pay us money"
"We took all the money"
Oh no a scam.
Or stupidity.
Next time will be better!
Yeah I mean what part of this is even a scam? They bought pictures of monkeys and now they have pictures of monkeys. The money was gone when they clicked "buy"
Why not both 🌮
@@alexcrowl Yeah, where's the scam? They expect the value to change over time and it change for worst, those were risks they were willing to take.
Influencers and NFTs. Two unnecessary things, together. Why am I not surprised this failed so hard.
It wasn't a failure for the people who ran it. They made money. The only failure is when the people dumb enough to buy jpegs failed to make a good financial decision.
The worse the NFT world get, the better this channel gets.
At least we are benefiting from it. 😁
Not long term.
Crypto and NFTs have increased money laundering exponentially.
And money laundering always comes at the expense of the average taxpaying joe.
@@boooster101 he meant benefitting from NFTs because they give kira more content to talk about, but yea long term nfts just get worse
@@Crypted112 that's why I included the word longterm.
Short term it's great for entertainment and teaching a lot of naive young people about dubious investments.
I just don't think that the benefits in this case outweigh the drawbacks.
Let's wait 3-5 years and then evaluate the damage for society at large.
It helps combat omnipresent inflation in one of the worst possible ways I guess.
@@boooster101 im sure it's beyond evaluated at this rate
As a person who thinks primates are really cool and fascinating I find the constant use of apes to be the 3rd most infuriating thing about NFTs
I don't know most of the primates I have known are awful. Some even sell NFTs
@@mattroxursoul Bruh xD
what is the 2nd and 1st?
@@asrieldreemurr1856
Marketing.
Overstated utility.
maybe they're using monkeys as a way to mock the people who are buying these NFTs
I think the whole apes thing is a reference to the “Apes together strong” meme that got popular on Wall Street Bets back during the GameStop squeeze.
It was maybe mildly funny back then, but NFT culture killed the meme harder than harambe. Now the ape jokes feel like they have no soul.
gamestock hasnt squeezed yet pal, soon tho
I am absolutely stunned that people fall for this kind of thing.
Imagine taking financial advice from "social media influencers".
A fool and his money are soon parted.
Monkeys are popular because you have to evolve backwards to believe all the promises
.thanks for comedy :D
At this point if you buy an nft and get scammed, it's your fault.
always has been
Exactly
are u telling me Bradley Martyn the most natty bodybuilder who trains only the most natty influencers and totally dont do steroids. would lie and scam his fans? shocked
"sure, we'll give you 80 back" "but... You took at least 276".
The silver lining is, the more of these scams that gets exposed, the more distrust will be garnered for NFTs, and the closer we'll be to the day where are so widely vilified that they become irrelevant
At this rate there's a hefty chance they may be outlawed before they die organically. Either's good though.
What these rug pulling crypto morons don't realise though is that every single one of these actions draws people like tax departments and governments closer to doing something.
@@crunchyfrog555 they SHOULD outlaw them at this point there are way more scams than not....I really dk wtf the people investing are thinking with so many scam projects still getting funded
These NFT people are cult-like, they would fight tooth and nail for it. Basically, If there are no new people, how would they inflate the value?
Hence the cult-like behavior when it comes to defending and recruiting. An absolute modern pyramid scheme.
@@Sm0ke821 I think it's because a lot of it is young naive people (maybe even children trying ahrd to be grown up). They bunged money in crypto, and earned a lot of money from that. Now they don't know what to do with it (because getting it out to be actually usable involves interest from tax authorities).
So those with some smarts are creating scams to suck funds from others who made money and the dumb kids on the bottom are buying these pathetic NFTs because they see it something to spend their money on and perhaps keep making money.
Not far short of MLMs or other scams really - dumb twats at the bottom and dumb cunts at the top but with a small amount more smarts to be one step ahead.
You are by far my favourite dealer of EMOTIONAL DAMAGE!
You're detailed forensics are amazing. Keep exposing them their prey will start paying heed to run away.
I heard someone ask what NFT stands for, and the thought that came to my mind is "Nothing F*cking Tangible".
Most of these NFT projects feel like a highschool's group project to scam the kids from Elementary.
“Guys we stole all the money. We are unfit to lead and will pass that leadership to someone else. See ya!”
Very well, fine gentlemen. The men in blue shall discharge you from your position and will trasladate you to your retirement zone after the tramitation is done. You don't need to buy a plot to live in the land you gained access to with the power of NFT, son.
Does the majority of the NFT community do anything to try and police this kind of stuff, or is it all just a conglomerate of rats?
Serious question.
They will just tell you "But look at the non scammy projects" and then look to other side or call you a retrograde basically
I think the people that stick around just recognize the potential, despite it having been taken over by scams and jokes. They are there for the "could be." Not the "what is"
@@Icedanon I recognize the potential and hate the current iteration, hoping it to be better
Yet I havent become a MLM Drone
The entire point of blockchain stuff is to be police-proof.
@@elbruces thats not true. Since this posting, many of the scammers have been caught thanks to the open nature of the block chain. The police/redditors just followed the money. The point is to have a decentralize bank to rid ourselfs of the scum that syphon value off of everything and stack the game in their favor.
We've gone from cryptobros screwing cryptobros to meatheads scamming meatheads. Truly a technology that crosses boundaries.
It’s just amazing. Spending so much money on a link to a ugly monkey picture is absolutely mind boggling
No one ever said rich ppl were smart lmao
How the fuck do these people have the money to begin with? One's gettin' their ass educated to get the penny and then there's fucking Tristan thinking he bought Mona Lisa but got Mona Lista
Wow I'm so surprised. I bet this is the only example of this though. Literally every other nft project is legit starting NOW
*5 minutes later* I mean, NOW
@@BBWahoo sir, this is a Wendy's
@@Speederzzz lmfao at this thread… lmfaoooooooo well done frenz
When the Hell will someone get to making the "Dutch Tulip NFT"? Goddammit! Smelling salts nft, cat poop nft, nft of nft, money baby, buy my Dutch tulips! Ty Kira, :D
If I knew anything about coding and was morally bankrupt, I'd probably try this out.
I'll never feel sorry for people wasting fake money on fake projects.
"Why are apes popular in the NFT scene?"
It's because cryptobros and NFTbros have the mentality and intellect of an unevolved primate.
Evolution going backwards (de-evolution?), humans (crypto and NFT -bros) slowly reverting to apes?
NFTs are pointless imo but I've made money on crypto, you can't just buy a coin that's hitting ATHs and expect it to double/triple. Some people don't know how to invest period and then start making fun of those who do.
Give some respect to non human primates. They've never pushed crypto scams nor fell for it.
@@aj897 If those people did know how to invest you wouldn't have made money. It's what a zero-sum game means. You made money because someone else lost it by trading poorly (or because you were lucky). At optimal play it's just about the luck of the draw because there are way more factors than we can consistently predict. So no amount of "but I've made money" will ever justify buying crypto.
Other primates are not “unevolved”, they simply fill a different ecological niche. Please do not disrespect our non-human cousins. It just doesn’t make sense. They’re out there eating bugs with a stick and don’t have to stress out about completely made up shit like NFTs.
Came to your channel looking for an MMO that might suit me and found this amazing education in potential scams thank you so much.
3:15 I now know that Kira 100% believes in autoblow
I want to know what that sales bump (or slump) was like for Autoblow.
lmao, i want to see their sales figures too
can't wait to see how many times this exact thing needs to happen before people stop falling for it en masse!
thank you for sacrificing a portion of your sanity for the sake of our entertainment
Ok, so what I’m learning is rule #1 of NFTs... never be,over that anything beyond the token itself is guaranteed. You get the token and that’s it. Any other supposed service should be considered ‘never gonna happen’.
I recently worked for a team of NFT creators who were rug pulled by their developer. I picked up all the pieces and reworked their project back together. They are now listed on magic Eden. But it's horrible how many people are getting scammed for these type of projects.
Every NFT project is a scam because NFTs are horrendously stupid.
Yeah, sure, funny man. Lemme see those transactions
This is why I’m not ever touching this shit I’m better off starting to learn about stock
This all just sounds like a Nigerian prince who's looking to give you millions if you can just give him your bank info so that he can deposit the money. A fool and his money are soon parted...
More than you know: 419 Scammers - the name given to those overwhelmingly Nigerian email scammers - aren't stupid, and deliberately put in spelling mistakes and other obvious errors to drive away those are skeptical. They only want to get responses from the most gullible.
NFT/Crypto pumps use exactly the same techniques.
When are we getting the Nigerian prince nft?
In the US, full disclosure of sponsored content must be made by the content creator or influencer according to the FTC. Truth in advertising also comes into play as well.
You're a content God, Kira.
Good on you for covering this mess. Far be it from me to poopoo on popular trends, but I sincerely hope this is a fad that dies.
It's fun how people keep buying into nfts when there is no way that there will be another BAYC. The ship has sailed, everything else is just a shitty copy and regardless of the intent of the creators, they will never go "to the moon." The success of BAYC is based on irrational exuberance - the smarter people in finance are starting to understand what NFTs are and are actually assessing their worth.
Yeah I don't get why so many ape nfts get made. I've seen a literal copy of the BAYC except they all face left!
This is exactly what I see happening on the very coins that are used to trade these. Once the money gets into the tens of billions, the people pumping it up, trading back and forth to each other, are going to rug pull the entire coin.
So in summary people are paying orders of magnitude more for an item equivalent to pogs than they're worth
Thought so
Actually pogs had more value, since you actually have physical ownership and can play a game with them.
You wanna be richer than everyone else on the internet?
All you need is to do nothing! Let them fall in scams and lose all their money while you keep yours. Victory!
I'm up billions already!
The over whelming majority of rug pulls are on the eth/solana networks. This is because the communities are exceptionally gullible and the tools to build NFTs on those networks are easy to use. Its like trying to scam someone with an iphone. Anyone willing to pay a $100 gas fee is ripe to be scammed. Anyone with a semblance of experience in the space can spot these rugs a mile away.
Influencers be like: "I want to retire, how should I do so?"
A: Save up money and build up a retirement savings plan?
B: Completely destroy my reputation by scamming my followers out of hundreds of thousands of dollars using a technology no one really understands?
🅰️🚀🅱️
Maybe apes are so popular because their entire identity revolves around holding strong together. Like a “Apes Together Strong” kinda thing?
Totally depends on the ape.
Orangutans are pretty solitary.
Maybe they’re supposed to be bonobos.
Bonobos do nothing but fuck each other
I wonder if it took any influence from the GME craze?
@@mrwizard5012 I can’t imagine why it wouldn’t. Though haven’t bored apes been around since like mid 2020?
Once again I would rather flush money down the toilet than give it to some influencer for NFT.
KiraTV: "What do influences do?"
My rotten brain : "They sing a little song and influence you..."
I love videos analizing all these scams, they are fun
Since I watch this channel that's talks about NFTs alot, I now get several ads for NFT projects.
On one hand I have to deal with shitty annoying ads.
On the other...these are pretty funny videos.
Yes! More! Found you today and be binging you for hours now :D
Good content. TH-cam needs more creators like you!
I never understand this whole "influencer" thing, now maybe I'm too old and/or cynical but the only advice I will take from any random person on the internet (especially TH-cam) is from a plumber. For when I'm looking up ways to unblock the bog after one of my particularly large (not enough fibre) dumps.
The whole NFT thing reminds me of a quote by Henry Miller...
"When shit becomes valuable, the poor will be born without arseholes."
Although in this case it seems to be brains.
Not everyone is lucky or experienced enough to have a solid sense of self, nor do most have the wherewithal to properly reflect. When you’re young and passionate, you’re vulnerable. Don’t make the mistake of looking at the victim. Direct your ire at the asshole who has the sheer fucking arrogance to think that telling people lies and then absolving themselves of the consequences is an okay way of making money.
I'm glad you specified what in particular could clog your toilet because I couldn't figure out where you were going with that
I don't get it
At this point of the show, I'm getting too numb at these dramas that I even think this is not that worse.
We all know that if they can do it once they can do it again.
Apes are a focus due to the Gamestop period, were the meme "Apes together strong" was used to represent the mainsteam framing of gamestop holders as idiots (apes) that were messing with the "big guys".
An underdog meme, if you will
People have this weird attraction in gorillas, there was this odd wave during the silver age of comics where they'd just make a story somehow involving gorillas, and this was, for some reason, extremely popular, so much so that writers were forced to continue to include gorillas to sell issues
Kind of like British video games in the 80s and xenomorphs
Reject Inteligence, Return to Monke
I could be wrong about this - I believe the popularity of Apes comes from Reddits wallstreetbets and the 'meme stock' stuff from earlier 2021. The redditors called themselves 'dumb apes' holding things 'to the moon'' I believe cypto and NFT pushers have adopted similar terms to create the same sentiment
I love getting crypto ads on your channel it's just pure irony
Nft stands for nothing fucking there
No question the shills and the owner stealing all the money is bad.... but who the hell is buying this NFT's, very hard to feel anything for people who lost money on NFTs.... pretty much anything 99.99999% that have NFT anywhere in their project is scam and just after your money....
Doing great work here, Kira. Helping give otherwise trusting, earnest people a bit of wisdom or at least awareness of the pitfalls of shiny new tech. Get rich quick schemes depend on most people participating not getting rich, so that a few can.
But wait, isn't the whole point about NFTs that they're valuable because they're limited and thus rare ? Surely, if they burnt half the NFTs, there's even less of them, making them more rare.
Why aren't they doubling in price then ?
when minting the price for each is a set price, in this case it was 0.15 to mint one.
people believed there was 8000x0.15 in circulation , so burning half would not trigger a pricedrop if it was done in secret.
thing is, you cant do much in secret on a blockchain, people tracked the wallets and figured out what was happening, thus in a panic everyone was willing to sell their apes at super low prices just to get out, thats where they at now
They are sold to raise funds for a “goal” or “dream” so by stopping mid way they basically admit they are not even trying to get the funds required for there goals.
Also were they burned because not enough people were buying them. So by doing the burn they also showed to the world that there NFT are not popular. Would you pay a lot for a “rare” item that is neither popular or trustworthy?
Well hold on, I wanna know more about that dull playground in London.
"NFT" is a medical term meaning non-functional testicle...lol
I still don't understand why you would want to pay money for nft in the first place.
The class action lawsuits are coming
Great video, loved the "pious rugpuller" quote
This is called embezzlement
Most people are sheep and they need to feel powerless and guided.
15:46 Guess this guy's not going to Cryptoland.
underrated comment
Trust is like a vase. Once you break it, it'll never be the same again. Sure, you may be able to mend it, but it'll always be ugly, a little more fragile, and you'll never be able to completely undo the damage.
Instant like when you said "How best they can steal money from people"
Literally had an nft ad on this video, cannot escape this shit
I just can't anymore....
As a scientist I'm struggling to survive every month, earning like 470 bucks per month, most of it goes for rent. And people just get rich left and right doing nothing.
I just can't watch these anymore.
I give myself the small comfort that its all gambling, and eventually the house always wins. I just hope the house burns down sooner rather than later.
Sooner or later they will steal from the wrong person
dunno how people can fall for such obivouse scams?
I'm truly considering creating some obvious scam NFT, maybe "you got scammed" jpegs in different colours? Those people just want to scammed, lets make it easy for them...
Would be interesting to do a case study on incidents where the burn address way later after some coin has died down suddenly had outgoing transactions. It seems likely that the burn address is not actually inaccessible. The entire concept of burning seems quite flawed. "Mint `X` coins, burn `X × fraction` of them, they are now rare, value goes up."
In gaming, shilling is very hard to actually identify because its the default label to throw on anyone who likes something you don't.
with the amount of consecutive rugpulls recently, you'd expect people would be a lot smarter when dealing with this stuff, but somehow millions still get poofed
In my perfect world, scammers would get the death penalty.
nfts were setup as a scam from the start 10 rich people got together and thought this up over phone calls. crypto was already sketchy as hell this is way worse.
If ever an ape was only a monkey, it's this lot.
I don't know how they managed it, but those "Jacked" apes somehow look worse than the bored apes.
People with more money than sense.
If the general consensus is that NFT’s are scams, why people continue to spend money to get scammed? I can’t wrap my head around what the thought processes are here. Or how people can be so consistently be dense to be influenced, or convinced in a way that mimics the mad monk himself.