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"The blockchain network is super secure! Hackers won't be a problem!!!" Hey NFT Supporters... The blockchain isn't the weakest link... it's the users and hosting websites that are the vulnerable parts, and the easiest to exploit. Just like my bank, super secure, will even refund any sort of monetary damaged caused by a hack if it ever occurs... but my bank's security won't help me if I give my card and pin to someone.
@@zhaoyun255 That's part of the "Users Vulnerability". But yes, Social Engineering is another tool in the hacker's toolbelt that people are unaware of...
Haha same here mate, same here. Always a pleasure to see greedy executives getting their karma chips delt to them and watching their beloved monetization scam go to shit.
@@DiscusvissenRocken problem with that is the creators or "executives" as you say are not the ones losing their ass. These things take no money to create, once the first person buys it the originator is out completely and made away like a bandit. The people getting fucked are just dummies with a little bit of money.
@@leef1500 true but what i ment is that these problems pretty much buried the whole NFT craze and will put NFTs in an even worse Light. In the end even the dumbasses will wake up and scrutenize NFTs meaning those executives will lose their beloved new monetization scam alltogether. It is tough luck for the idiots that bought NFTs but it serves them right imo..the writing was on the wall yet the bought the shit anyways.... All in all this is a win for us who hate NFTs and want to see the whole hype collapse.
You can't have your cake and eat it you know. Crypto wants to be free from government regulation it must accept that it's market will become wild wild west. If you think government is evil then wait till you meet other people....
If you ever feel like you did a bad purchase or a bad business decision, just remember There's people who spent thousands or even millions of dollars on a bunch of useless JPEGS thinking they would be the future of the digital art market. Just for those JPEGS to loose 92% of their value after a few months
The new owners (Embracer) are pretty cool though. They are like Vivendi was in the early days of Blizzard. They don't interfere in the studios, just let them do their own thing. And they want to make single player games again.
I've hated NFTs since the moment they were announced... and for years I've kept hoping gamers would put their foot down in response to all the shit the gaming industry keeps getting away with. It makes me both happy and relieved that gamers seem to be having NONE of this NFT shit. Thank goodness...
Imagine being arrested for stealing a digital picture and doing jail time for it, and turning it into a NFT and recouping loses. Because that's what addicts do.
I absolutely love it. The best part is like hackers going after scam call centers - every body loves it. Everybody wants to see these scamming scum get theirs in every way possible.
You know what's interesting to think about? I feel like whoever is hacking them is literally just doing it to prove how easy it is at this point because they must know that the money they steal is not really possible to withdraw anyways but that is not their reason, most likely it is a clever move to expose how insecure it is, which is exactly what the blockchain is praising itself for, ironically the same thing that becomes its own downfall.
The funniest thing I've heard yet about NFTs, is that Square sold off I think 1,300 employees, several slept on IP's(Legacy of Kain, I think Tomb Raider, etc), and I think four studios for $300 million....to go CHASE this garbage. :-) Hooo boy I can't wait for the next earnings call in Japan as someone tries to explain this nonsense. :-)
NFT's aren't just getting shoehorned in by gaming companies, the music industry is also shoehorning it everywhere, artists being attracted by the promise that it will "make them more money than beatport sales, spotify streams, and itunes sales combined." I recently subscribed to twitter due to the elon buyout to promote my own stuff (not nft's lul) and I followed many artists I respect, and I quickly unsubscribed from them when I noticed all of these useless NFT drops. Artists don't even seem to be aware of what NFT's are, the legal issues with NFT's, and the controversy surrounding them. It just looks like it was pushed by marketing "experts" to them while omitting all the crunchy details.
Even deadmau5 got into NFTs with his new single. Yuck. They may only be a little over $2 each, but that's still over twice the usual price of a single, not to forget all the wasted GPU power. As much as I like deadmau5, I'll skip this track.
"NFTs have been making all sorts of headlines, but for the wrong reasons." I disagree, good sir. Those are the perfect reasons for NFTs to make the headlines.
LuLaRoe for tech bros. Toys'R'Us Pump'N'Dump. Ocean's Eleven IQ Points Ugly apes, ugly people, ugly business. A solution in search of a problem that causes more problems than it solves.
The moment NFT's are put into a game...it is no longer a game, but a scam. So this is good...I hope the people that bought this crap enjoy losing everything.
You people been buying digital property for the last 10 years, your already conditioned for this its laughable you think its going away. all they have to do is rebrand and you wont even know your buying nfts lol
@@StormsparkPegasus Destroying the planet, scamming people, making money. Yeah nothing I can think of actually game related. The only argument people would make is for TCGs like pokemon, but even then, there are ways of doing that without using the idiotic blockchain. Edit: and when I say there are ways of doing that without the blockchain I'm saying it has already been done without it so it doesn't need it anyway.
I’m Puerto Rico we are getting massive hack attacks and the hackers sold information about users on the Dark Web Hacking has turned really horrible nowadays
I've heard people implying that the blockchain is safer than banking systems and I'm like... but the vast majority of the crap that goes through the chain isn't even properly encrypted and at least banks will reimburse you if you get scammed or hacked. Once your silly JPEGs are stolen, they are gone forever.
NFT original art isn't even good enough to steal. That's why so many NFT-NEETs just steal the work of actual good artists and claim it as their own. And then they have the audacity to say that NFTs are "good for artists.".
Nft artwork is but a small part of the market. The real underlying technology that isn't worth much at the moment is. Secure digital code that can hold real world data that is unique to the user that can not be copied.
@@rpguntodeath6112 If these hacks are any indication it can indeed be copied quite easily. Your Non-Fungible Tokens have repeatedly been shown to be Naturally Fungible Tokens. Nobody with even a passing knowledge of tech is taking the technology seriously. Admit that you bet on the wrong horse and get a real job.
You know, I don't think there is a group of people I'm less capable of feeling sympathy for than NFT bros getting conned after everyone else respomded to the NFT fad with nonstop derision and laughter. "All your money is gonna get stolen." "No bro, you're just behind on the times, so sad you'll be left behin- where'd all my money go?" I am stunned that their ugly drawings of monkeys and other stolen art weren't the financially sound, genius investments they thought they'd be.
@@sleepysartorialist Worse even. At least Beanie Babies were cute and a physical object you could hold and go "This is mine" hahahaha As opposed to the ugly ass monkey drawings
The blockchain is still far more secure… it’s not even an argument to anyone who knows what crypto is. just because you guys see one instance of hacking and a couple comments agreeing with each other, you assume you know what you’re talking about lol.
@@nawsih848 technically they are correct that blockhchain are very secure... And that is exactly why hackers doesn't hack blockchains. Think of blockchains as door locks, it is only as useful as the users who remembered to lock everything up.
@@laisy961 Unfortunately true. Though, showing them off to the public is undoubtedly the equivalent of saying “Here, I’ll just leave my dollar bill on the floor.” Very easy for someone to steal it.
I've been on the computer/internet for over two decades and I still can't believe nfts are a thing. There has never been anything dumber on the internet, never.
There's still a bit of life to squeeze out of it. And if you can get them for free (i.e. steal them), you can sell them for pennies on the dollar and still turn a profit!
Know what is even worse that NFT scams which effect a small % of NFT holders?... The fact that NFTs always were worthless from the very beginning, which effects 100% of NFT holders...
Honestly, saying they were hacked is too generous imo. That seems to imply that they were securing their assets but hackers broke through the protections despite their best efforts. These dumbasses just straight-up went and handed over their private information to the hackers. I suppose it really is true what they say - "A fool and their money are soon parted."
Well most hackers just collect information anyways. You'd see them rummaging garbage bins outside of companies. People have this odd idea that hacking where they break in unannounced. Its just a lot of luck, dumb people, and trickery.
Do proper hacks actually happen? Like someone actually brute-forcing their way in? It seems as if it's always phising, social engineering and user negligence causing something like this. There are people who get quite upset about the term "hacking" used as often as it being is.
To my understanding, brute force hacking can only happen when a blockchain isn’t properly implemented (I think the Axie Infinity Hack may have partially been this). However, even outside of blockchains, stealing permissions via things like password theft are far, far more common, and unlike centralized systems, blockchains are ultra vulnerable to it. If some random person on the other side of your country tries to take 90% of your money out of your bank account, your bank’s probably gonna freeze the account and call you. If someone steals your crypto assests in the same way, you’re SOL unless the chain forks, which isn’t likely unless it’s a big hack or some very rich folks get their stuff stolen.
Imagine getting into a scam and then get scammed by a different type of scam. That's seriously impressive. And desperate. It's almost like they have no idea of what a scam looks like and keep falling for them- OH WAIT! I'd feel bad for them if it wasn't so hilarious.
My heart goes out to the game companies that tried so hard to make NFTs a thing, and poor square enix for selling their house and two cars to focus on NFTs. It truly is devastating, and I hope that they can suck it dry and move on knowing nobody cares about NFTs.
I fucking knew it. Crypto was always a joke of a fad. This sheer lack of security and solid value is so indicative of digital obsession. I'm not the kind of person to shit on technology, I couldn't live my life without my computer, but so many people obsess over the "way of the future" bullshit that they don't see the obvious pitfalls in it.
Some people got to learn the hard way that not every technology is a winner. For every breakout hit like HDTV or even color TV there are tens or hundreds of 3DTV-esque failed experiments that just don't prove to be workable, don't catch on with the public, or otherwise just fail. Maybe it's because we're so far out from the last major format war between Blu-ray and HD-DVD, but people need to be reminded that not every move tech companies make is in the right direction.
i see, i guess the moral from the story are: The Technology is Interesting The Security is Superb but its all meaningless when the people are still as Gullible as before
Even being early in career, most post-production shops I've either worked at or talked to take the protection of internals, whether it's dailies or full on entire cuts of projects super seriously. You have to sign a small homework assignments worth of NDA's. We had someone try to share content and he was fired pretty much the same day, after tracing the leak to his workstation's IP address. Kind of wild in contrast, how laissez faire the gaming industry is in regards to security especially with such valuable proprietary systems and designs kept in house, That's just asking for a bad time.
Theft is a crime, and I do not endorse stealing valuable items from others. ... That being said, *WOOOOOOOOOOOOOOO YEAH BABY, THAT'S WHAT I'VE BEEN WAITING FOR, THAT'S WHAT IT'S ALL ABOUT, WOOOOOOOO!* EDIT: Y'all, of course they aren't valuable. I wouldn't be cheering if they stole something of _actual_ value.
I was looking if someone else mentions this. I was listening only, so I had no visual clues and I kept hearing All those “yaczt”s. Now I am ESL, but fairly confident in my skills so I was like WTF is this thing? Some new crypto-bro term? No, it’s just a yacht.
"one day we will store medical records and property deeds as NFTs on the blockchain, it's just such an inherently secure and useful way of doing things" NFTs be like:
It makes me wonder why banks don’t get hacked to this extent. Is it just because banks actually put the money into security and these crypto/NFT schemes don’t?
They’re not hacking blockchain, they’re hacking the people who own wallets. However, in this situation, it’s partially due to the company getting their social media hacked. So again, not blockchain. The bank equivalent is Identity Theft & that happens all the time at an astonishing rate.
@@mayaw.4013 I wanna add to that last bit, I'm sure banks are getting hacked or at least attempted all the time, it more likely they don't release that information and have contingency plans for the lost money if it were to be successful. If they don't got to talk about a security breach, I'm sure they'd be more than happy to not have to. Gotta keep the out look of a business positive. When they do tell us, it probably too serious to hide, or cause passwords are compromised.
@@austinnonr7908 Banks do not need to be hacked. The problem is that the user gets cheated or clicks on some pfishy link and sometimes just sends their money to the guy attempting to steal from him on their own, and even confirms everything, and after the fact decides "wait... that might have been a scam". It's the reason banks often post messages like "look out of wierd messages, don't click links etc" on their main pages.
I feel like alot of it has to do with money being alot more traceable than cryptos and nfts. The lack of regulation and laws surrounding cryptos and nfts also make it a hot target for hackers. I feel like the banks get hacked very often as well but you don't hear about it because hacks like this for only ~3 M is nothing in the grand scheme of banking.The only victim is the bankers after insurance gets involved
Just to show that NFTs are in fact a fad, and they're on their way in joining the ranks of being a forgotten trend with Hoverboards, Fidget Spinners, Bottle Flipping, 2010s Internet challenges, and etc.
Only reason I supported bottle flipping is because it pissed off teachers for no real reason. Nothing brings out the Karens like a bottle flipping teenager. It does no damage, it's a test of skill, hones hand eye coordination, and it's one of the most harmless pastimes kids can engage in.
NFT's were a scam from the start. Owning something that isn't in your hands just never added up. Which made it ripe for scams and hacks like these. This really isn't surprising.
They're not dying the market as a whole in this planet is doing poorly, but in 6 months or a year it'll be even bigger of a space so there's nothing to celebrate
The promise of NFTs was to represent real world assets such as property deeds, mortgages, vehicle registration and ownership. Yet all we see is stupid "digital art" masquerading as investments or as avatars for social media accounts. How is a randomly computer-generated image composed of a few individual components (face, hat, eyeglasses, etc.) worth anything? A person could generate their own "digital art" such as BAYC, keep only one of the generated images while discarding the remainder, store the NFT on IPFS and link to it from whatever social media platform allows NFTs as avatars or profile images.
The picture is just a bonus, what you really own is a hyperlink where things like deeds to houses and the like can supposedly be stored. NFTs are just a very shit looking version of cryptocurrency, and to look at what's wrong with NFTs you should look at what's fundamentally wrong with cryptocurrency.
@@DarthMcDoomington the IPFS link is meaningless without the actual artefact associated with it though. It is not a general purpose storage slot so to speak.
Love to hear about this market crashing. The biggest irony? My mid-ad for your video was a crypto ad... "Want to learn more about crypto?" Perfect timing, Google.
the "CH" in "yacht" is, as far as I'm aware, universally considered silent. Going back to UK English where it came from, was also not sounded out. Is there some place where people say it the way Yong insists? Just curious.
He pronounces a lot of things incorrectly. I just assume it's related to early life language learning and/or English as a second language. it's always weird when the accent seems so clearly native though. I hear it in some British people on TH-cam with absolutely bizarre emphasis on words too. Like Coffehouse Crime will say, "Late....THAT NIGHT....she was walking down THE street." It's weird.
I'm with you.. I was wondering why Yong Yea pronounces it so weirdly and I googled this. "Yacht" is derived from the Dutch word "jacht," which would probably be pronounced with the typically guttural "ch" before the "t"; the "j" would be pronounced as English letter "y." Since English does not utilize the guttural "ch," it treats the "ch" differently than other Germanic languages - in some instances it is pronounced as "k" (school; schooner) or would be ignored in cases where the pronunciation was awkward ("yacht"). So, maybe Yong Yea is going back to his Dutch roots.. ?!?!
@@Darius1929 If he did then he would say it the European way "yaHHt", not "yatch". Him saying "yatch" every other sentence actually triggered me for some reason lol.
If gamers pushed back just as hard against microtransactions and half-complete vaporware garbage, the gaming landscape may be a much better place in which to exist. NFTs, crypto, and blockchain all need to diaf along with those that support them.
Needs to die off with non-America banned things as certain foods, products, but America wont do that even. They still support the slowly damaging of human body organs by doing so & so in canisters, byproducts and foods. To help food grow bigger, preserve foods.
Bro it’s $3 bucks are you that poor? As long as those people exist(which is the majority of consoomers) the NFT grift is going to force its way into everyone
@@hydrophilicchristopher9874 Only buy single player games for a reason... yeah, the kids with credit cards are the problem for microtran *sham* sion....
The tokens keep getting Funged, and I for one applaud the hackers. Even if they are into NFTs themselves, they are showing everyone how dumb and unsafe the whole thing is 😄
@@sleepysartorialist Damn you crypto-simps must be real desperate of the best case you can make for how your magic monkey tokens aren't a scam is "But what about North Korea?" You know who doesn't have to do that? LITERALLY ANYONE.
I'm all for game companies trying to normalize NFTs in their products if it means they leave themselves open to these kinds of humiliating and financially devastating hacks. If they're stupid enough to fall for this scam, they deserve whatever they get.
I'm against you only because of the ground floor employees because they'd be the ones suffering the most out of everyone involved. The corporates need this sort of smack to the face sure, but not the ground floor employees.
If it's any consolation to them, they might have paid millions for the monkey jpegs but they were collectively worth about £3. The scale of the theft is overblown. If you printed off thousands of monkey pictures in your house and someone broke in and stole them it wouldn't be a multi million pound theft.
I find it cute how YongYea pronounces a few words so weirdly hahah like "yacht" or "coffers." I noticed it before but just now realized it happens from time to time
Please teach me how to steal nfts and sell it for cash. When i get rich I won't do it anymore. I am currently poor so its alright. Have you seen the prices of daily goods? Everything is expensive. For example cooking oil.
I'm still trying to figure out who thought it WOULD. The whole reason functioning currencies work, is because there's a government with a vested interest in keeping the currency healthy. Preventing cyber-attacks, avoiding fraud or using the currency for criminal purposes....that's all part and parcel with having a government-backed coin or note. Backing crypto is literally saying "I want money that has no surety; no trust in it. I want money I can make in my room off a dot-matrix printer and some ASCII art." :-)
@@Pyxis10 It's not even new rich, a lot of people at the top were old money. To quote Line Goes Up "Even the changing of the guard is mostly illusionary.".
@Fourier21 All right, then, mister, since you are so _knowledgeable_ in the ways of cryptography, would you mind enlightening us as to the ways that NFTs in any way solve the problems that any form of currency must solve in order to become a viable medium of exchange that can avoid being monopolized by a single individual?
I just can't bring myself to feel sorry for these people. It's too funny for me when we're all screaming at them that it's a scam, then they get scammed, then they're surprised by it.
Wow another hacker steals $3 million worth of NFT's. I mean, they must have some balls to steal $1 million worth of digital pointers. I guess the real impact will be felt when we find out how many users owned the $250 000 worth of NFT's and if they can afford to reimburse the total $500 stolen.
I recently wrote a journal article called "When the NFT Hype Settles, What Is Left beyond Profile Pictures? A Critical Review on the Impact of Blockchain Technologies in the Art Market"
I remember when valve ban nft from steam is when nft started getting picked up by everybody and a majority saying that valve is stupid for banning NFT games "well well well look how to turntables turn"
What I don't get: You hack / steal some monkeys. Then what? I mean, you have to "sell" them to someone else to cash out, right? By then , everyone knows that monkey was "stolen" - so how can you sell them?
I was asking myself the same thing. But MAYBE the theft is committed not to resell the items but to just damage the market. I mean, if I pay thousands of dollars for a monkey picture and it just gets stolen, I will probably not buy another one anytime soon.
It's amazing that my literal 20 dollar bill is more secure in a torn up leather wallet then literal billions of dollars worth of invested blockchain tech nfts are.
"Yacht" is pronounced "Yot". The "ch" is silent. I have to wonder about how NFTs became a "thing" in the first place. It always struck me as a mediocre solution looking for a problem. The problem found was artificial scarcity, which CAN work (which is why diamonds are valuable) but is a lot harder to pull off with infinitely duplicable "goods" like digital pictures. (And even harder when the suppliers don't bother to maintain scarcity.)
“I am really enjoying my popcorn right now, and I don’t even eat popcorn that much anymore” 😜 Who need bad movies anyway when you can have this entertainment for free, Good deal right
I said from the start of this when companies started getting in on. It was being boosted by boomers who didn't want to miss out on the next big thing and didn't understand it fully.
If the metaverse were to materialize right now and everyone was plugged into the Matrix, I guarantee you NFTs would be the digital equivalent of litter.
@@Pyxis10 Ironic. This is the greatest metaphor for NFT bros right now. Sweeping the streets clean from shit, because they lost all their money and are trying to cope with everything they find on streets.
If you blindly head into the wild west, expect to get robbed.
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Quandale dungle
..
So true
Color me shocked that the people who fell for NFT scams also fell for phishing scams.
💯😂
Ryley Benson Don't worry! If they get broken they can't scam anymore LMAO
Must be coincidental ... Pure coincident ... 😂
wait, he told me i would be rich like verry fast 😲
So let me tell you about my friend, the Prince of Nigeria...
"The blockchain network is super secure! Hackers won't be a problem!!!" Hey NFT Supporters... The blockchain isn't the weakest link... it's the users and hosting websites that are the vulnerable parts, and the easiest to exploit. Just like my bank, super secure, will even refund any sort of monetary damaged caused by a hack if it ever occurs... but my bank's security won't help me if I give my card and pin to someone.
Really well said
Don't forget social engineering was a thing.
@@zhaoyun255 That's part of the "Users Vulnerability". But yes, Social Engineering is another tool in the hacker's toolbelt that people are unaware of...
Can't be more true
NFT's are the future in games, get use to it.....
Why is it not surprising that NFT “investors” would be more likely to be duped by a phishing scam?
They're lonely and not as smart as they think they are.
They'd love for it to be regulated in someway...
Well, NFTs have a gullible, naive and easy to scam audience build in, since noone outside that target audience bothered with NFT's.
@@EskChan19 True
The stupidity of people never ceases to amuse me, if it wasn't so entertaining I'd feel bad for them.
Seeing news like this is like a hard drug. I'm addicted to seeing NFTs just fail... I need more. Aaah it feels so good.
Imagine how you'd feel if Bobby Kotick went to prison!
It's comforting
Haha same here mate, same here. Always a pleasure to see greedy executives getting their karma chips delt to them and watching their beloved monetization scam go to shit.
@@DiscusvissenRocken problem with that is the creators or "executives" as you say are not the ones losing their ass. These things take no money to create, once the first person buys it the originator is out completely and made away like a bandit. The people getting fucked are just dummies with a little bit of money.
@@leef1500 true but what i ment is that these problems pretty much buried the whole NFT craze and will put NFTs in an even worse Light. In the end even the dumbasses will wake up and scrutenize NFTs meaning those executives will lose their beloved new monetization scam alltogether. It is tough luck for the idiots that bought NFTs but it serves them right imo..the writing was on the wall yet the bought the shit anyways.... All in all this is a win for us who hate NFTs and want to see the whole hype collapse.
"Yeah! Decentralised banks! We control our money!"
"Wait, what do you mean there's no regulation?"
Despite the issues that traditional banks have, at least they protect users from their own poor opsec
You can't have your cake and eat it you know. Crypto wants to be free from government regulation it must accept that it's market will become wild wild west. If you think government is evil then wait till you meet other people....
If you ever feel like you did a bad purchase or a bad business decision, just remember
There's people who spent thousands or even millions of dollars on a bunch of useless JPEGS thinking they would be the future of the digital art market. Just for those JPEGS to loose 92% of their value after a few months
Yep, my $600 loss making a wrong choice in 3D printers definitely doesn't sting as much, but the phantom pain never stops
@@Aereto ouch, sorry about that
Yup. I missed out on getting Tesla stock in 2020. I definitely still think about it but I know it's not as bad as these NFT bros 😂
Certified links to jpegs, don't overstate the level of ownership in an NFT. It baffles me anyone thinks they're valuable enough to steal.
@@HighlyImprobableName for the lols
These gaming companies can't even implement decent anti-cheats for their games, but they think mingling our finances with this crap is a smart idea?
This was not an exploit lol. Just a bunch of dumbasses who fell for a scam as old as time. Nothing to do with software or security on the whole
I mean I guess Instagram was exploited but that shit happens every second
u have 0
clue how to tech works
stay poor
What about indie game companies? I don’t see them pushing NFTs.
@@jonahabenhaim1223 selling out their integrity and public image for money isn’t their main priority
Me: Remembers how square enix just sold off a bunch of studios and IP’s to invest more in NFT’s.
Also me: Uncontrollable laughter.
maybe they'll realize its a dumb idea and make another Deus Ex game instead?
@@diogovieira3362 they just sold off deus ex so no luck
The new owners (Embracer) are pretty cool though. They are like Vivendi was in the early days of Blizzard. They don't interfere in the studios, just let them do their own thing. And they want to make single player games again.
@@diogovieira3362 Deus Ex was one of the IPs they sold off.
(sadly, they sold it to Gearbox's parent company, so I'm not getting my hopes up)
@@delusion5867 as long as who ever shows up does something with it
I've hated NFTs since the moment they were announced... and for years I've kept hoping gamers would put their foot down in response to all the shit the gaming industry keeps getting away with. It makes me both happy and relieved that gamers seem to be having NONE of this NFT shit. Thank goodness...
Imagine being arrested for "stealing" a digital picture and doing jail time. Smh, what is this world coming to.
It's the smart contracts that were stolen, the images are just the shell for the smart contract.
@@sleepysartorialist And all an NFT is, is a hyperlink.
Imagine being arrested for stealing a digital picture and doing jail time for it, and turning it into a NFT and recouping loses. Because that's what addicts do.
I absolutely love it. The best part is like hackers going after scam call centers - every body loves it. Everybody wants to see these scamming scum get theirs in every way possible.
Shoutout to daddy Jim Browning and his son Kitboga and their drunken Russian uncle Scambaiter
You know what's interesting to think about?
I feel like whoever is hacking them is literally just doing it to prove how easy it is at this point because they must know that the money they steal is not really possible to withdraw anyways but that is not their reason, most likely it is a clever move to expose how insecure it is, which is exactly what the blockchain is praising itself for, ironically the same thing that becomes its own downfall.
Those are grey hats tho, these are just thieves.
@@phaolo6 anyone who helps destroy this cancer of an “industry” is good in my books.
@@onlywithbuts1781 That, and those they steal from can't really go to the cops, right? It's pretty much free easy cash to get away with.
The funniest thing I've heard yet about NFTs, is that Square sold off I think 1,300 employees, several slept on IP's(Legacy of Kain, I think Tomb Raider, etc), and I think four studios for $300 million....to go CHASE this garbage. :-) Hooo boy I can't wait for the next earnings call in Japan as someone tries to explain this nonsense. :-)
I don't know how they could spin that as a good thing.
Youngyea made a video about it other day and yep sounds about right. Someone going to get fired and ceo has to resign for making them look stupid
The upside is they might resurrect the Legacy of Kain series
@@evandaymon8303 bro might want to delete some comments, TH-cam duped you like 5 times
Soul reaver!
Never thought NFTs can be MORE embarrassing
That's an achievement right here
💯😂
NFT’s making the shittiest microtransactions seem worth it and that’s fucking sad XD
It's already embarrassing being a "Bored Ape fan".
I propose a bet. It'll get more embarrassing.
@@glassramen I'm sure there's at least one idiot out there with a BAYC face tattoo.
NFT's aren't just getting shoehorned in by gaming companies, the music industry is also shoehorning it everywhere, artists being attracted by the promise that it will "make them more money than beatport sales, spotify streams, and itunes sales combined." I recently subscribed to twitter due to the elon buyout to promote my own stuff (not nft's lul) and I followed many artists I respect, and I quickly unsubscribed from them when I noticed all of these useless NFT drops. Artists don't even seem to be aware of what NFT's are, the legal issues with NFT's, and the controversy surrounding them. It just looks like it was pushed by marketing "experts" to them while omitting all the crunchy details.
Now even car manufacturers are going all in on NFTs too. Lamborghini and McLaren are doing it
Even deadmau5 got into NFTs with his new single. Yuck. They may only be a little over $2 each, but that's still over twice the usual price of a single, not to forget all the wasted GPU power. As much as I like deadmau5, I'll skip this track.
Flashbacks to those Subtronics and Ramzoid NFTs. Sad times.
"NFTs have been making all sorts of headlines, but for the wrong reasons."
I disagree, good sir. Those are the perfect reasons for NFTs to make the headlines.
To be embarrassed 😂
Only thing that could make it better would be if the hackers leak the IP addresses of all their victims, so that the rest of us can get in on the fun.
Let's be real here... Anyone buying NFTs already lost their money. They just didn't realize until now.
Well, long before they lost their money, they lost their friggin minds :-)
i have made more money then i ever have with petty stocks or options. i have my eth in my wallet now so pleade explain how i lost my money?
@@marcelrodriguez2067 Whatever you say buddy, enjoy as all your assets become more and more worthless overtime
@@marcelrodriguez2067 blah blah blah I swear y'all are reading from the same pyramid scheme script
@@EnigmaSword yea sure come hate on ethereum aswell lmao
"Explain NFTs in a sentence or less."
"It's a scam."
"Scam or be scammed."
"Monkey pictures."
"You just buy a link that could die at any moment"
"You're purchasing a receipt."
"It's a lateral jpeg. Screenshot it if want it so badly."
LuLaRoe for tech bros.
Toys'R'Us Pump'N'Dump.
Ocean's Eleven IQ Points
Ugly apes, ugly people, ugly business.
A solution in search of a problem that causes more problems than it solves.
That was almost a haiku.
Algorithm "art"
Not real financial advice
It's a Ponzi scheme
The moment NFT's are put into a game...it is no longer a game, but a scam. So this is good...I hope the people that bought this crap enjoy losing everything.
If only an honest game dev actually uses blockchain as a backbone to a mechanic, not a microtransactions backend.
You people been buying digital property for the last 10 years, your already conditioned for this its laughable you think its going away. all they have to do is rebrand and you wont even know your buying nfts lol
@@absurdh3ro if you don’t know you’re buying NFTs then it’s just some code in the background and at that point who cares
@@Aereto It's not useful for anything game-related. I can't think of anything it IS useful for. Other than destroying the planet.
@@StormsparkPegasus Destroying the planet, scamming people, making money. Yeah nothing I can think of actually game related. The only argument people would make is for TCGs like pokemon, but even then, there are ways of doing that without using the idiotic blockchain.
Edit: and when I say there are ways of doing that without the blockchain I'm saying it has already been done without it so it doesn't need it anyway.
I’m Puerto Rico we are getting massive hack attacks and the hackers sold information about users on the Dark Web
Hacking has turned really horrible nowadays
I've heard people implying that the blockchain is safer than banking systems and I'm like... but the vast majority of the crap that goes through the chain isn't even properly encrypted and at least banks will reimburse you if you get scammed or hacked. Once your silly JPEGs are stolen, they are gone forever.
When he said NFT theft, the first thing that comes to my mind is people saving those 'artworks' on their computers
NFT original art isn't even good enough to steal. That's why so many NFT-NEETs just steal the work of actual good artists and claim it as their own. And then they have the audacity to say that NFTs are "good for artists.".
Nft artwork is but a small part of the market.
The real underlying technology that isn't worth much at the moment is.
Secure digital code that can hold real world data that is unique to the user that can not be copied.
@@rpguntodeath6112 If these hacks are any indication it can indeed be copied quite easily. Your Non-Fungible Tokens have repeatedly been shown to be Naturally Fungible Tokens. Nobody with even a passing knowledge of tech is taking the technology seriously. Admit that you bet on the wrong horse and get a real job.
If you think artwork is what nfts are .
Then you do not understand anything at all about the technology.
Media headlines will only carry you so far.
*Right clicking intensifies*
You know, I don't think there is a group of people I'm less capable of feeling sympathy for than NFT bros getting conned after everyone else respomded to the NFT fad with nonstop derision and laughter.
"All your money is gonna get stolen."
"No bro, you're just behind on the times, so sad you'll be left behin- where'd all my money go?"
I am stunned that their ugly drawings of monkeys and other stolen art weren't the financially sound, genius investments they thought they'd be.
@Jimbo Bimbo Oh, just to be clear I'm not calling the monkeys art, I meant the actual stolen art nfts that also existed hahaha
@@nooneinparticular5273 Let those "NFT bros" be broken and find several bridges to suicide
They're the beanie babies of the internet
@@sleepysartorialist Worse even. At least Beanie Babies were cute and a physical object you could hold and go "This is mine" hahahaha
As opposed to the ugly ass monkey drawings
Remember when people kept arguing that NFTs were more secure than bank accounts?
Wait how?
@@nawsih848 they lie jason
The blockchain is still far more secure… it’s not even an argument to anyone who knows what crypto is. just because you guys see one instance of hacking and a couple comments agreeing with each other, you assume you know what you’re talking about lol.
@@nawsih848 technically they are correct that blockhchain are very secure... And that is exactly why hackers doesn't hack blockchains. Think of blockchains as door locks, it is only as useful as the users who remembered to lock everything up.
@@laisy961 Unfortunately true. Though, showing them off to the public is undoubtedly the equivalent of saying “Here, I’ll just leave my dollar bill on the floor.” Very easy for someone to steal it.
I've been on the computer/internet for over two decades and I still can't believe nfts are a thing. There has never been anything dumber on the internet, never.
Every time I start feeling bad I just remind myself "I never bought an NFT." and I instantly get a huge shot of self-confidence.
I'm honestly shocked that people are bothering to steal a dying market.
At this point I assume it's about sending a message.
There's still a bit of life to squeeze out of it. And if you can get them for free (i.e. steal them), you can sell them for pennies on the dollar and still turn a profit!
@@useraccount333 Ahh but you are mistaken, they have to pay enormous gas fees so it might not even be worth it! LMAO
Trying to squeeze blood from a stone, as the old saying goes...
@@BlitZnGodzilla117 Someone flip on the Bat Signal, I think I hear the Joker laughing! XD
First time I've ever heard someone refer to a yacht as a 'yoch" lol
So not only was it an incredibly volatile marketplace, but it was also ridiculously unsecure. Just like the market it was birthed from.
Know what is even worse that NFT scams which effect a small % of NFT holders?... The fact that NFTs always were worthless from the very beginning, which effects 100% of NFT holders...
Honestly, saying they were hacked is too generous imo. That seems to imply that they were securing their assets but hackers broke through the protections despite their best efforts. These dumbasses just straight-up went and handed over their private information to the hackers.
I suppose it really is true what they say - "A fool and their money are soon parted."
"are soon spoofed."
Modernized that for ya
Well most hackers just collect information anyways. You'd see them rummaging garbage bins outside of companies.
People have this odd idea that hacking where they break in unannounced. Its just a lot of luck, dumb people, and trickery.
Do proper hacks actually happen? Like someone actually brute-forcing their way in? It seems as if it's always phising, social engineering and user negligence causing something like this. There are people who get quite upset about the term "hacking" used as often as it being is.
To my understanding, brute force hacking can only happen when a blockchain isn’t properly implemented (I think the Axie Infinity Hack may have partially been this). However, even outside of blockchains, stealing permissions via things like password theft are far, far more common, and unlike centralized systems, blockchains are ultra vulnerable to it. If some random person on the other side of your country tries to take 90% of your money out of your bank account, your bank’s probably gonna freeze the account and call you. If someone steals your crypto assests in the same way, you’re SOL unless the chain forks, which isn’t likely unless it’s a big hack or some very rich folks get their stuff stolen.
Exactly. Like or hate NFTs, this was because buyers were morons, thats all.
I love Yong, but the way he says Yacht is killing me slowly. :D
yaTCH
🤣 I wonder if he knows its Yacht as in a boat
You could make a list as long as your leg with his weird pronunciations.
@@Amrylin1337 like "60 dollars games" instead of "60 dollar games" lol
I was already dying from that and then he said, “coe-furs” (coffers). Ahhh!!! 😖
More, I need more NFT failers,, and losers. Please shine a light on all of this.
Give it time for when the market recovers - many of these people are going to have stupid money and you’re going to be even angrier
Imagine getting into a scam and then get scammed by a different type of scam. That's seriously impressive. And desperate. It's almost like they have no idea of what a scam looks like and keep falling for them- OH WAIT!
I'd feel bad for them if it wasn't so hilarious.
So, you're telling me that red ape family is an accurate representation of how secure NFTs are.
My heart goes out to the game companies that tried so hard to make NFTs a thing, and poor square enix for selling their house and two cars to focus on NFTs. It truly is devastating, and I hope that they can suck it dry and move on knowing nobody cares about NFTs.
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Mine doesn't. Hows less restrained capatalism treating you?
If my eyes were to shed tears they’d be tears of the sweetest mirth
DIsplate is trying to get into NFTs more people need to know, hopefully with stuff like this happening they will rethink the whole thing
@LOU ALEX at least they gave you a physical copy of the art... I hope
Not that it worths it money or anything tho
I fucking knew it. Crypto was always a joke of a fad. This sheer lack of security and solid value is so indicative of digital obsession. I'm not the kind of person to shit on technology, I couldn't live my life without my computer, but so many people obsess over the "way of the future" bullshit that they don't see the obvious pitfalls in it.
Some people got to learn the hard way that not every technology is a winner. For every breakout hit like HDTV or even color TV there are tens or hundreds of 3DTV-esque failed experiments that just don't prove to be workable, don't catch on with the public, or otherwise just fail. Maybe it's because we're so far out from the last major format war between Blu-ray and HD-DVD, but people need to be reminded that not every move tech companies make is in the right direction.
It IS possible the tech will be important at some point. Maybe for owning your own data for instance. But that point in time is not now.
Such is the flaw with any unregulated currencies or transactions. There’s no means of securing or insuring them if they’re lost or stolen.
i see, i guess the moral from the story are:
The Technology is Interesting
The Security is Superb
but its all meaningless when the people are still as Gullible as before
Even being early in career, most post-production shops I've either worked at or talked to take the protection of internals, whether it's dailies or full on entire cuts of projects super seriously. You have to sign a small homework assignments worth of NDA's.
We had someone try to share content and he was fired pretty much the same day, after tracing the leak to his workstation's IP address. Kind of wild in contrast, how laissez faire the gaming industry is in regards to security especially with such valuable proprietary systems and designs kept in house, That's just asking for a bad time.
Theft is a crime, and I do not endorse stealing valuable items from others.
...
That being said, *WOOOOOOOOOOOOOOO YEAH BABY, THAT'S WHAT I'VE BEEN WAITING FOR, THAT'S WHAT IT'S ALL ABOUT, WOOOOOOOO!*
EDIT: Y'all, of course they aren't valuable. I wouldn't be cheering if they stole something of _actual_ value.
How do you steal something from someone who never owned it to begin with
Nothing of value was lost
No one stole any valuable items in this case
I mean nothing of value was stolen
Would you copy a car?!?!??
My only question is who in their right mind would steal these ugly things? Like breaking into a museum to steal the garbage can.
Because somebody else paid a lot of money for that garbage can.
Or breaking into the art museum and steal the banana taped to a wall
Doesn't matter, someone bought it for you haha
Because if you can get them for free (i.e. steal them), it doesn't matter how much you can sell them for.
Hey yong as a heads up, yacht is pronounced “yaht”
I was looking if someone else mentions this.
I was listening only, so I had no visual clues and I kept hearing All those “yaczt”s. Now I am ESL, but fairly confident in my skills so I was like WTF is this thing? Some new crypto-bro term? No, it’s just a yacht.
This so called "hack" is just a "Save Picture" feature build in almost every browser.
"one day we will store medical records and property deeds as NFTs on the blockchain, it's just such an inherently secure and useful way of doing things"
NFTs be like:
First time I heard about NFTs, I thought 'this is stupid'.
Well, I was right... 🤣
It makes me wonder why banks don’t get hacked to this extent. Is it just because banks actually put the money into security and these crypto/NFT schemes don’t?
They’re not hacking blockchain, they’re hacking the people who own wallets. However, in this situation, it’s partially due to the company getting their social media hacked. So again, not blockchain.
The bank equivalent is Identity Theft & that happens all the time at an astonishing rate.
@@mayaw.4013 I wanna add to that last bit, I'm sure banks are getting hacked or at least attempted all the time, it more likely they don't release that information and have contingency plans for the lost money if it were to be successful.
If they don't got to talk about a security breach, I'm sure they'd be more than happy to not have to. Gotta keep the out look of a business positive.
When they do tell us, it probably too serious to hide, or cause passwords are compromised.
banking security is i n s a n e. plus it's heavily regulated, overseen by judicial systems, accounted for and therefore insured, etc.
@@austinnonr7908 Banks do not need to be hacked. The problem is that the user gets cheated or clicks on some pfishy link and sometimes just sends their money to the guy attempting to steal from him on their own, and even confirms everything, and after the fact decides "wait... that might have been a scam". It's the reason banks often post messages like "look out of wierd messages, don't click links etc" on their main pages.
I feel like alot of it has to do with money being alot more traceable than cryptos and nfts. The lack of regulation and laws surrounding cryptos and nfts also make it a hot target for hackers. I feel like the banks get hacked very often as well but you don't hear about it because hacks like this for only ~3 M is nothing in the grand scheme of banking.The only victim is the bankers after insurance gets involved
Just to show that NFTs are in fact a fad, and they're on their way in joining the ranks of being a forgotten trend with Hoverboards, Fidget Spinners, Bottle Flipping, 2010s Internet challenges, and etc.
Are you suggesting my Fidget Spinner NFTS aren't going to the moon?
Hey bottle flipping is still fun
Only reason I supported bottle flipping is because it pissed off teachers for no real reason. Nothing brings out the Karens like a bottle flipping teenager. It does no damage, it's a test of skill, hones hand eye coordination, and it's one of the most harmless pastimes kids can engage in.
At least fidget spinners are useful accessibility items.
NFT's were a scam from the start. Owning something that isn't in your hands just never added up. Which made it ripe for scams and hacks like these. This really isn't surprising.
"NFT's are dying"
Me "you make that sound like that's a bad thing"
They're not dying the market as a whole in this planet is doing poorly, but in 6 months or a year it'll be even bigger of a space so there's nothing to celebrate
I hope all the celebrities that have bought nfts get them stolen
You're really fucked up in the head for wanting crimes to be committed against people.
I'd rather them forced to watch the value drain from their beloved tokens right in the palm of their hands.
Never thought I would be on the side of hackers.
Some hackers have even gone after scam call centers.
Hackers can do good work if they are directed at certain individuals that everybody hates.
@@Supperdude9 Hackers who use their skills for good are called white hat hackers.
Good news: soon the thieves won't bother stealing your NFTs because they won't be worth anything.
They already aren't worth anything
Their goal is to collapse the market.
The promise of NFTs was to represent real world assets such as property deeds, mortgages, vehicle registration and ownership. Yet all we see is stupid "digital art" masquerading as investments or as avatars for social media accounts. How is a randomly computer-generated image composed of a few individual components (face, hat, eyeglasses, etc.) worth anything? A person could generate their own "digital art" such as BAYC, keep only one of the generated images while discarding the remainder, store the NFT on IPFS and link to it from whatever social media platform allows NFTs as avatars or profile images.
The picture is just a bonus, what you really own is a hyperlink where things like deeds to houses and the like can supposedly be stored. NFTs are just a very shit looking version of cryptocurrency, and to look at what's wrong with NFTs you should look at what's fundamentally wrong with cryptocurrency.
@@DarthMcDoomington the IPFS link is meaningless without the actual artefact associated with it though. It is not a general purpose storage slot so to speak.
I like that this guy is not doing some stupid sponsorship promotions as are other youtubers. Keep up the good work.
Love to hear about this market crashing. The biggest irony? My mid-ad for your video was a crypto ad... "Want to learn more about crypto?" Perfect timing, Google.
Lmao you see ads??
the "CH" in "yacht" is, as far as I'm aware, universally considered silent. Going back to UK English where it came from, was also not sounded out. Is there some place where people say it the way Yong insists? Just curious.
"Is there some place where people say it the way Yong insists?" Yeah, on TH-cam, by someone who's obviously never seen a boat.
He pronounces a lot of things incorrectly. I just assume it's related to early life language learning and/or English as a second language. it's always weird when the accent seems so clearly native though. I hear it in some British people on TH-cam with absolutely bizarre emphasis on words too. Like Coffehouse Crime will say, "Late....THAT NIGHT....she was walking down THE street." It's weird.
I'm with you.. I was wondering why Yong Yea pronounces it so weirdly and I googled this.
"Yacht" is derived from the Dutch word "jacht," which would probably be pronounced with the typically guttural "ch" before the "t"; the "j" would be pronounced as English letter "y." Since English does not utilize the guttural "ch," it treats the "ch" differently than other Germanic languages - in some instances it is pronounced as "k" (school; schooner) or would be ignored in cases where the pronunciation was awkward ("yacht").
So, maybe Yong Yea is going back to his Dutch roots.. ?!?!
@@Amrylin1337 Third language, not second
@@Darius1929 If he did then he would say it the European way "yaHHt", not "yatch".
Him saying "yatch" every other sentence actually triggered me for some reason lol.
If gamers pushed back just as hard against microtransactions and half-complete vaporware garbage, the gaming landscape may be a much better place in which to exist.
NFTs, crypto, and blockchain all need to diaf along with those that support them.
Someone needs to make a petition to get gatchas passed off as child gambling in the US, and watch the gacha community die that painful death.
I hate microtransactions so much it's unreal.
Needs to die off with non-America banned things as certain foods, products, but America wont do that even. They still support the slowly damaging of human body organs by doing so & so in canisters, byproducts and foods. To help food grow bigger, preserve foods.
Bro it’s $3 bucks are you that poor?
As long as those people exist(which is the majority of consoomers) the NFT grift is going to force its way into everyone
@@hydrophilicchristopher9874 Only buy single player games for a reason... yeah, the kids with credit cards are the problem for microtran *sham* sion....
Any major company considering implementing NFTs would be tarnishing their reputation at this point!
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The fact that so many people fell for this scam just shows the intelligence level of the people who buy NFTs.
The tokens keep getting Funged, and I for one applaud the hackers.
Even if they are into NFTs themselves, they are showing everyone how dumb and unsafe the whole thing is 😄
HFTs. Hyper Fungible Tokens.
@@tjenadonn6158 MFTs MEGA Fungible Tokens.
You might be applauding North Korea tho. You ok with that?
@@sleepysartorialist Damn you crypto-simps must be real desperate of the best case you can make for how your magic monkey tokens aren't a scam is "But what about North Korea?" You know who doesn't have to do that? LITERALLY ANYONE.
I'm all for game companies trying to normalize NFTs in their products if it means they leave themselves open to these kinds of humiliating and financially devastating hacks. If they're stupid enough to fall for this scam, they deserve whatever they get.
I'm against you only because of the ground floor employees because they'd be the ones suffering the most out of everyone involved. The corporates need this sort of smack to the face sure, but not the ground floor employees.
@@MezunaKua those employees are there by choice. Sucks to be them.
@@MezunaKua they deserve to be in someplace better
@@thesquadequalstraitors2273 You say this as if they all have a choice.
@@Pyxis10 they do. No one is holding a gun to thier head.
Remember when the selling of images online involved the previews having watermarks on them so you could tell you didn't have the original?
Dear Hackers,
Thank you for your service.
Yours sincerely,
The Gaming Community.
yongyea trying to hide his smile as he covers nft blunders is my fave part of this
Don't worry, i got a solution... rename NFT to mean "Not For Thieves", that will stop the theft and hackers.
"Fungitible Token"
Where you can get FT for FREE without paying ridicilous price
No crime allowed! Wow problem solved that was so easy why did no one ever think of it? /s
If it's any consolation to them, they might have paid millions for the monkey jpegs but they were collectively worth about £3. The scale of the theft is overblown. If you printed off thousands of monkey pictures in your house and someone broke in and stole them it wouldn't be a multi million pound theft.
Someone’s still going to buy them for tens of thousands.
Normally I'm not the kind of person who smiles at the missfortune of others. But I'll make an exception today.
I find it cute how YongYea pronounces a few words so weirdly hahah like "yacht" or "coffers." I noticed it before but just now realized it happens from time to time
Please teach me how to steal nfts and sell it for cash. When i get rich I won't do it anymore. I am currently poor so its alright. Have you seen the prices of daily goods? Everything is expensive. For example cooking oil.
It's like I've been saying this whole time: Cryptocurrency solves none of the problems that a functional currency needs to.
I'm still trying to figure out who thought it WOULD. The whole reason functioning currencies work, is because there's a government with a vested interest in keeping the currency healthy. Preventing cyber-attacks, avoiding fraud or using the currency for criminal purposes....that's all part and parcel with having a government-backed coin or note. Backing crypto is literally saying "I want money that has no surety; no trust in it. I want money I can make in my room off a dot-matrix printer and some ASCII art." :-)
These people just want to become the new rich.
@@Pyxis10 It's not even new rich, a lot of people at the top were old money. To quote Line Goes Up "Even the changing of the guard is mostly illusionary.".
@Fourier21 All right, then, mister, since you are so _knowledgeable_ in the ways of cryptography, would you mind enlightening us as to the ways that NFTs in any way solve the problems that any form of currency must solve in order to become a viable medium of exchange that can avoid being monopolized by a single individual?
it's crazy how many people invest into NFTs and then realize "oh shit this wasn't a safe investment" after losing thousands
Then theres the idiot who spend $48 million on an NFT and could barely get a $200 bid on it when trying to resell it lmfao
Those are people who click links sent to their email and sign in like dumbasses.
Millions
this is the eventual result of decoupling currency from physical goods with actual value.
I just can't bring myself to feel sorry for these people. It's too funny for me when we're all screaming at them that it's a scam, then they get scammed, then they're surprised by it.
I never get tired of seeing the ape nft thumbnails. It always makes me laugh that it was ever a thing in the first place.
Wow another hacker steals $3 million worth of NFT's. I mean, they must have some balls to steal $1 million worth of digital pointers. I guess the real impact will be felt when we find out how many users owned the $250 000 worth of NFT's and if they can afford to reimburse the total $500 stolen.
Thank you for this comment this made my day
The series finale for NFTs is gonna be liiiiiiiiiiit.
I hope to not see a NFT redemption arc.
I recently wrote a journal article called "When the NFT Hype Settles, What Is Left beyond Profile Pictures? A Critical Review on the Impact of Blockchain Technologies in the Art Market"
"people lose millions in ape pictures"
how did we end up in the "parody of real life" timeline?
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NFTs: Exist
Everyone: This is worthless.
With the blockchain proving ownership, you *get* to watch in real time as your property is stolen and you *get* to watch it in its’ stolen state!!!
It proves ownership, thus also proving that it was not stolen; it proves you yourself gave it away.
_"Yacht"_ is pronounced _"Yot"_
We've found the weak link in Yong's linguistic skills! XD
I have heard a lot of people pronounce the "a" in Yacht, so I disagree.
@@the11382 then they're wrong.
@@michaelmooney5246 In other languages it's correct. Including the original language.
@@helmaschine1885 he's not speaking other languages though. He's speaking English. So it's wrong.
I remember when valve ban nft from steam is when nft started getting picked up by everybody and a majority saying that valve is stupid for banning NFT games
"well well well look how to turntables turn"
What I don't get:
You hack / steal some monkeys.
Then what?
I mean, you have to "sell" them to someone else to cash out, right? By then , everyone knows that monkey was "stolen" - so how can you sell them?
I was asking myself the same thing. But MAYBE the theft is committed not to resell the items but to just damage the market. I mean, if I pay thousands of dollars for a monkey picture and it just gets stolen, I will probably not buy another one anytime soon.
Hackers be like "ALL YOUR APES ARE BELONG TO US"! Good for them!
It's amazing that my literal 20 dollar bill is more secure in a torn up leather wallet then literal billions of dollars worth of invested blockchain tech nfts are.
"Yacht" is pronounced "Yot". The "ch" is silent.
I have to wonder about how NFTs became a "thing" in the first place. It always struck me as a mediocre solution looking for a problem. The problem found was artificial scarcity, which CAN work (which is why diamonds are valuable) but is a lot harder to pull off with infinitely duplicable "goods" like digital pictures. (And even harder when the suppliers don't bother to maintain scarcity.)
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Artificial scarcity was dumb to begin with. NFTs never were scarce if you could just right click them.
Real physical art pieces are MUCH HARDER to get stolen. That is a FACT.
“I am really enjoying my popcorn right now, and I don’t even eat popcorn that much anymore”
😜
Who need bad movies anyway when you can have this entertainment for free, Good deal right
Company: NFTs are the future
Gamers: We don’t want your shit
Hackers: we will take your NFTs
📉💰🚽👍
I'm not even surprised at this point, NFTs are gonna collapse any time now.
The “ch” in yacht is silent. It’s just pronounced “yaht”
Hearing YongYea's voice makes me feel smarter and like I know about stuff
But he doesn't know a lot so that means you probably don't know that much either
@@moderatingmoderation1699 lol why are you watching his videos then
I said from the start of this when companies started getting in on. It was being boosted by boomers who didn't want to miss out on the next big thing and didn't understand it fully.
If the metaverse were to materialize right now and everyone was plugged into the Matrix, I guarantee you NFTs would be the digital equivalent of litter.
"Aw crap, I stepped in NFT. These were my good shoes."
*whistles while sweeping up Nft's*
@@Pyxis10 Ironic. This is the greatest metaphor for NFT bros right now. Sweeping the streets clean from shit, because they lost all their money and are trying to cope with everything they find on streets.
If NFT's are the digital equivalent of litter, Metaverse is the digital equivalent of a garbage dump (or maybe a septic tank)
Yacht is pronounced "yaht"
What's a "yotched" club? Do you mean "yacht?"
Coffers, or Co-furs as Yong also said...
Can we all agree that "Simian Oblivion" is a great title?
Imagine getting involved with NFTs but clicking phishing links lmao.
Well, at least now the things they’re stealing are nearly worthless.