NFTs as you know them was supposed to be more of a showcase of the technology until people decided to be stupid and put their life savings into them. In the future they will hopefully be pinned to real world assets like properties, real life art pieces, cars businesses etc. The technology itself is actually pretty cool if you look into it
This generation of NFTs are bad and certainly deserves their infamy, but the underlying technologies are quite useful. When NFTs get as boring as a grocery receipts, it is where it can reach true potential
Not really it's a form of agriculture which takes up valuable arable land. Needs potable water and fertiliser. Agriculture is bad for the environment. It's worth it when it's ya know feeding people food and stuff. Not so much when it's feeding rich idiots egos.
TLDR; NFTs are not proof of ownership NFTs do not give you ownership over a piece of digital media. An NFT is a document on the block chain that is linked to your wallet and contains a link to the digital media. It is not backed by any government or other authority, meaning that it is not legally binding. Saying that someone with an NFT of an image owns that image is not true. It's like if someone took a picture of the Eiffel Tower, signed it, and then claimed that they owned the Eiffel Tower.
They are proof of ownership. You can prove you own a token on the blockchain. Yes, anyone else can do whatever they want with the photo the token can represent, but nobody can prove they own or utilize the token unless they are you.
@@kenedi987 Yeah, obviously you own the token. But in terms of NFTs, you do not own what the NFT is about. Like an image NFT you do not own the image, but you own the token itself. It’s like with the Eiffel Tower analogy. You obviously own the piece of paper, but not the Eiffel Tower.
The fact that you don't know how much a tulip bulb is going to be worth until it flowers is a fascinating wrinkle to this. The Dutch inadvertently invented lootboxes.
The tulips at least made more sense. They were actually pretty, and the more complex colors were extremely rare. The scarcity was a function of the biology of the tulip. With NFTs, the scarcity is purely artificial. Only 5 viceroy tulips might be grown in the span of a decade. Since it's a flower, it can't be copied (unless you somehow cloned it). An NFT is just a bitmap image. You can copy it an infinite amount of times. Each copy has the exact same contents as the original. Ergo, the exact same bytes in the exact same order.
Funny how I I just found this video. It is hilarious how my teacher in Security Analysis told me this story last month. Tulips were going wild. Like you could buy a house with expensive tulips.
i agree NFT's are really really dumb man but i think culture can also be add into that fatore into NFT's like there can't be any thing even close to our times NFTs back then because we have the internet so they is the big difference between us then them NFT's can only exist because of the internet back then if you made a book or anything that can be sold on mass you willl get a physical copy you can do that with NFTS you know
That's a great video! But those examples are nothing like NFTs. In the example of the Mississippi company those are just like stocks of a company, and the crash of the economy can even resemble the crash of the stock market. With the tulip example - those are physical flowers that can be used. NFTs are also nothing like intellectual property that other people can't use except with a permission from the owner of the property. But with NFTs, you can copy an NFT and it would be 100% the same as the original. There is ZERO difference between the "original" and the "copy". In NFT, you purchase a theoretical "ownership" of a thing that everybody can use freely whether the "owner" like it or not. Because the "owner" doesn't really own it.
"At least you got a tulip back then, now you get nothing". Uhh actually I can set my Twitter profile as my cool ape nft, that's much more valuable than a tulip!
I like your content. Respectfully, this video has some inaccuracy and incomplete framing. Without descending into ad-hominem savagery or judgement (behavior social media encourages), I’d love to encourage patient, civil dialogue around differences in understanding.
Not sure how you link the Mississippi Company with the loss of French territory in North America. Napoleon sold off France's holdings to USA during the early Napoleonic Wars because he knew he'd not be able to hold such an overseas territory.
what the fuck is happening in the comment section bro. literal puppet accounts having discussions between themselves with name like "melvin rotdick" or "steve bigballs'
Difference is that NFTs can be produced by AI and are mostly agly while tulips recquire some care and are beautiful form of live. So I think human mentality also changed
NFT´s are dumb but these things are nothing like nfts... Buying a star is like an nft, investing when the price is high into a company is not like an nft
"it's a matter if you made money from them or not" does not determine if you love or hate NFTs. The concept of it is dumb unless it's used for music rights or something of actual value, unlike digital art that someone can copy and paste.
Is it ever even worth doing NFTs once or twice as a kind of "get rich quick" kind of thing? All I know is that the pricing and value is very volatile but clearly it works for some?
You're buying a address of the internet attached to the image that shows that you bought the address, so the idea is to buy and sell it at it's craze. The thing is that speculative bubbles usually just make rich richer and who tries to get into it to get rich quick, in dept.
It did spread to the middle class, but the middle class was still only a very small percentage of society at the time. We’re talking lawyers, merchants, etc.. They were below the wealthy nobility but still above the peasantry that made up the vast majority of the population.
@@weldin the merchants paid high prices for the Bulbs but some of the wealthy nobility didn’t wanna pay for it even though they asked, so there was little to no economic repercussions
There is both technology and idea behind them. 99% of existing NFTs are garbage representations but that’s the case with almost everything. The idea behind them is about as dumb as people calling youtube or streaming a career. They are a product of a new age of consumers and advancements in computer science. No need to buy any, but it was the same thing with cryptocurrencies a while back - hillbillies calling them stupid or scams, when the main point is that it’s new technology and that is always a good thing.
you don't own most of the digital things you buy tho. If you buy a game on steam, you don't gain the rights to the game, or the ability to sell it to others, or the ability to prevent others from having the same exact game themselves.
@@HereForTheComments because you are paying for something that you can effortlessly get for free. A digital item like a video game has intrinsic value because it is fun to play. you could claim that the image of an nft has intrinsic value because it looks cool, but looking at it is completely free. there is no reason to pay money for a free picture, other than to flip it like any other speculative asset. people are stupid if they think nfts are anything more than that.
@@HereForTheComments those are not really comparable though. the only way to get trading cards is to pay for them. you can get any nft image for free if you want, which is why people choosing to pay are stupid. I'm not trying to argue that you cant enjoy looking at or collecting nft images. if you like them thats ok. but theres no reason to pay money if you want to just look at or collect them.
If you own one, sell it. If you buy one, try to sell it for more than you paid. Are you telling people what to do, or are you following someone else. Start your own bandwagon and mug the mugs, they deserve it.
I'm greatful to God for changing my financial statue with Bitcoin trading through the help of expert Grayson Elliott,he is the secret to my financial freedom,I encourage newbies to trade With him.
reading about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market, any pointers on how to make substantial progress in earning? would be appreciated.
I make huge profits on my investment since I started trading with Mrs Carolyn kay, her trading strategies are top notch coupled with the little commission she charges on her trade.
and 9 months later, the NFT craze died. It didn't even take 3 years
The History channel has a better chance of actually releasing quality historical content then NFTs succeeding.
Was this an insult or compliment?
Insult. History channel is not exactly known for their accurate/well-made programmes
They did it, long ago. In the before times, before reality tv.
than is used when you're talking about comparisons; then is used when you're talking about something relating to time.
@@SillyGamer789 It was a complisult, or insupliment
I’m really hoping NFTs become the Baby Beanies of our generation. I hope it fails miserably.
it will
NFTs as you know them was supposed to be more of a showcase of the technology until people decided to be stupid and put their life savings into them. In the future they will hopefully be pinned to real world assets like properties, real life art pieces, cars businesses etc. The technology itself is actually pretty cool if you look into it
This generation of NFTs are bad and certainly deserves their infamy, but the underlying technologies are quite useful. When NFTs get as boring as a grocery receipts, it is where it can reach true potential
Well, few paintings are well drawn.
Not all NFT’s are bad man. There are a lot of benefits and at the same time cons.
Tulips are, at least, good for the environment
tulips are prettier than digital monkey faces
Not particularly
Not really it's a form of agriculture which takes up valuable arable land. Needs potable water and fertiliser.
Agriculture is bad for the environment. It's worth it when it's ya know feeding people food and stuff.
Not so much when it's feeding rich idiots egos.
You can make tea out of them
@@johne28 cool
This man can draw and make super high quality videos faster than anyone I can think of
TLDR; NFTs are not proof of ownership
NFTs do not give you ownership over a piece of digital media. An NFT is a document on the block chain that is linked to your wallet and contains a link to the digital media. It is not backed by any government or other authority, meaning that it is not legally binding. Saying that someone with an NFT of an image owns that image is not true. It's like if someone took a picture of the Eiffel Tower, signed it, and then claimed that they owned the Eiffel Tower.
They are proof of ownership. You can prove you own a token on the blockchain. Yes, anyone else can do whatever they want with the photo the token can represent, but nobody can prove they own or utilize the token unless they are you.
That is a terrible analogy
@@kenedi987 Yeah, obviously you own the token. But in terms of NFTs, you do not own what the NFT is about. Like an image NFT you do not own the image, but you own the token itself. It’s like with the Eiffel Tower analogy. You obviously own the piece of paper, but not the Eiffel Tower.
@@sydn2698 How so? I’m not doubting you, I just want to know how to improve the analogy.
@@speltincorrectyl1844 An NFT isn’t claiming the Eiffel Tower but the image that was taken of the Eiffel Tower like a Polaroid
H0ser, I just wanna say congrats on 100k, I've been here since 2.5k, it's been awesome.
same
46th sub here lmao
@@TheVoltray uh huh
same
The fact that you don't know how much a tulip bulb is going to be worth until it flowers is a fascinating wrinkle to this. The Dutch inadvertently invented lootboxes.
jk everyone buy h0sercoin
h0sercoin > bitcoin > NFTs
Oh I will, I'm just saving money. Don't worry I'm gonna invest!
Lol
i sure will
The tulips at least made more sense. They were actually pretty, and the more complex colors were extremely rare. The scarcity was a function of the biology of the tulip.
With NFTs, the scarcity is purely artificial.
Only 5 viceroy tulips might be grown in the span of a decade.
Since it's a flower, it can't be copied (unless you somehow cloned it).
An NFT is just a bitmap image. You can copy it an infinite amount of times. Each copy has the exact same contents as the original. Ergo, the exact same bytes in the exact same order.
Plus oftens it is not even people who make them. Often it is AI
The english had a similar thing as the French with the “South Sea Company”.
Funny how I I just found this video. It is hilarious how my teacher in Security Analysis told me this story last month. Tulips were going wild. Like you could buy a house with expensive tulips.
i agree NFT's are really really dumb man but i think culture can also be add into that fatore into NFT's like there can't be any thing even close to our times NFTs back then because we have the internet so they is the big difference between us then them NFT's can only exist because of the internet back then if you made a book or anything that can be sold on mass you willl get a physical copy you can do that with NFTS you know
That's a great video! But those examples are nothing like NFTs.
In the example of the Mississippi company those are just like stocks of a company, and the crash of the economy can even resemble the crash of the stock market.
With the tulip example - those are physical flowers that can be used.
NFTs are also nothing like intellectual property that other people can't use except with a permission from the owner of the property.
But with NFTs, you can copy an NFT and it would be 100% the same as the original. There is ZERO difference between the "original" and the "copy".
In NFT, you purchase a theoretical "ownership" of a thing that everybody can use freely whether the "owner" like it or not. Because the "owner" doesn't really own it.
I think now some NFTs have a thing where any screenshot of it is blurred
insert generic "but the blockchain" here
So its like tulip mania but even mor shitty
@@vyktorehon5995 so just take a picture with someone else phone, call it art, BOOM profit
@@2krez254 would prolly be worse quality and look bad
wow 100k this quick, great job man
Congrats on 100k H0ser
been here since forver
I looked it up and turns out you can make tea out of the tulips but other than that yeh they’re pretty busy.
"At least you got a tulip back then, now you get nothing". Uhh actually I can set my Twitter profile as my cool ape nft, that's much more valuable than a tulip!
Pretty much the nft generation assigning value ahshshshhs
In other words, NFTs are a form of bubble, it's going to burst eventually.
great video as always man
This video is funny to watch in May 2022, because it literally predicted the crypto crash lol
Welp they are entering at best a short but painful Recession
lol i literally got an add about NFT's man 🤣
Ay wasup!
@@Troppau great man
I like your content. Respectfully, this video has some inaccuracy and incomplete framing. Without descending into ad-hominem savagery or judgement (behavior social media encourages), I’d love to encourage patient, civil dialogue around differences in understanding.
Just curious, do you defend NFT's?
Hey it's the cool guy
Hello h0ser I love you and I recently just bought a car and it made me think of you and your gas video 🥺🥺
About the tulip thing there was RNG when it comes to the bezariden ones
Awesome video! My favorite part was the Goat the Viceroy tulip
I got an NFT ad before the video started
Not sure how you link the Mississippi Company with the loss of French territory in North America. Napoleon sold off France's holdings to USA during the early Napoleonic Wars because he knew he'd not be able to hold such an overseas territory.
NFTs: Nice Fancy Tulips
What about New Fangled Televisions
what the fuck is happening in the comment section bro. literal puppet accounts having discussions between themselves with name like "melvin rotdick" or "steve bigballs'
Difference is that NFTs can be produced by AI and are mostly agly while tulips recquire some care and are beautiful form of live. So I think human mentality also changed
2:01 first use of an country-animal on this channel
Make a vid about my country, Colombia 🇨🇴 produces half of the world's coke
You were wrong, it happened faster.
NFT´s are dumb but these things are nothing like nfts... Buying a star is like an nft, investing when the price is high into a company is not like an nft
Tulip seeds were like an early version of Pokemon cards, I guess. I don't know anything about Pokemon, though.
sneakers, hype culture, supreme, paintings, diamonds, watches, bags etc
At least with those things you get a physical product!
Nice usage of Paper Mario TTYD music
the French story sounds exactly the same as the south sea bubble happening in the UK at the same time
Him explaining it makes me think nfts are just Pokemon cards.
"it's a matter if you made money from them or not" does not determine if you love or hate NFTs. The concept of it is dumb unless it's used for music rights or something of actual value, unlike digital art that someone can copy and paste.
With NFT's usually bad art is actually a benefit. Good art usually means there is a good artist behind it which complicates the process significantly.
NFTs are this millennium’s designer sneakers
that's right tony, it's called non fuckable token and they're worth so much money because they're made out of computers
I love how you just stole abunch of nft's and put them in this videa
Beanie babies, silly bandz, pogs, NFTs, whatever
I watched this earlier today but I for got to like the video so I had to go back and watch it again so win win!
Nft's are not only used for pictures or art. There are usecases where they are used as other things such as receipts.
NFTs have no value at all, it's a scam, a lie to steak you of your money. And for what? A digital image, audio?
I'll rather shaking hands with Tomura Shigaraki than to sell NFTs.
This guy sounds like a toned down version of Behind the Meme
Hmmmmm yes give me that Tulip Mania. G E K O L O N I S E E R D
the core reason is using the money to get more money without working
this, kids, is why capitalism is stupid.
NFT'S ate just thr new age tulip 🌷 bulb mania all over again
Is it ever even worth doing NFTs once or twice as a kind of "get rich quick" kind of thing? All I know is that the pricing and value is very volatile but clearly it works for some?
You're buying a address of the internet attached to the image that shows that you bought the address, so the idea is to buy and sell it at it's craze. The thing is that speculative bubbles usually just make rich richer and who tries to get into it to get rich quick, in dept.
*watching this video* *looks at the profile* Wait………… THIS ISN’T OATS JENKINS!
The issue isn’t NFTS, its modern “art”.
Actually the tulip craze is historically incorrect it never spread to the middle class and public. It was only a rich people thing
It did spread to the middle class, but the middle class was still only a very small percentage of society at the time. We’re talking lawyers, merchants, etc.. They were below the wealthy nobility but still above the peasantry that made up the vast majority of the population.
@@weldin the merchants paid high prices for the Bulbs but some of the wealthy nobility didn’t wanna pay for it even though they asked, so there was little to no economic repercussions
@@Cinnapupz What the 7ucd does this mean?
The First time i heard of NFT is when charlie bit my finger originao video is announce to become a NFT
I was there ;)🚀
Finally people can stop acting like everything dumb is somehow new.
lol humans have never changed
You forgot to mention Beanie Babies
Promote EFTs, the Extremely Fungible Tokens are good for all of us.
There is both technology and idea behind them. 99% of existing NFTs are garbage representations but that’s the case with almost everything. The idea behind them is about as dumb as people calling youtube or streaming a career. They are a product of a new age of consumers and advancements in computer science. No need to buy any, but it was the same thing with cryptocurrencies a while back - hillbillies calling them stupid or scams, when the main point is that it’s new technology and that is always a good thing.
I think it is dumber. Some YTbers are really funny though. I guess it is a difficult carieer due to unstable incom
It's not really a new technology, though.
Unrelated note: Congrats on 100K!
what is this monster girl island background music lmao
Comics books boom too
Its a big scam obviously
Plz do a vid on Iraq’s situation
Nft lore
Make an NFT of a tulip🤣🤣🤣
Great videos man
0:05 in my case I hate them. Great video!
Don't be stupid. Buy gold.
i am not the first
Sorry bro, you were 3rd
@@xp8969 please let me believe
@@Dosor72 I approve yer edited comment lol
I don't understand. How do I "not own" am NFT, but I do own all of the other digital things I buy?
you don't own most of the digital things you buy tho. If you buy a game on steam, you don't gain the rights to the game, or the ability to sell it to others, or the ability to prevent others from having the same exact game themselves.
@@coffee3879 So why are NFTs so stupid compared to other digital things?
@@HereForTheComments because you are paying for something that you can effortlessly get for free. A digital item like a video game has intrinsic value because it is fun to play. you could claim that the image of an nft has intrinsic value because it looks cool, but looking at it is completely free. there is no reason to pay money for a free picture, other than to flip it like any other speculative asset. people are stupid if they think nfts are anything more than that.
@@coffee3879 In the same way you don't need to pay money for a trading card? But people buy and collect those anyway?
@@HereForTheComments those are not really comparable though. the only way to get trading cards is to pay for them. you can get any nft image for free if you want, which is why people choosing to pay are stupid.
I'm not trying to argue that you cant enjoy looking at or collecting nft images. if you like them thats ok. but theres no reason to pay money if you want to just look at or collect them.
This channel rocks
If you own one, sell it. If you buy one, try to sell it for more than you paid. Are you telling people what to do, or are you following someone else. Start your own bandwagon and mug the mugs, they deserve it.
Neat
I came from the future to say that NFTs did crash and are now laughing stock (as it should be). If you are reading this in 2022 don't buy it! 😂
It is a mean for the rich to do money laundring
Damn I got an NFT ad while watching this
nigh an cat
ye
The rich invest their money first into assets instead of purchasing liabilities.
Take a wise decision today to buy and invest in cryptocurrency.
With the recent increase in cryptocurrency, investing now will be a smart decision
Crypto is the future
@Richard Thomas I need his info,how do i start my trade with him?
I'm greatful to God for changing my financial statue with Bitcoin trading through the help of expert Grayson Elliott,he is the secret to my financial freedom,I encourage newbies to trade With him.
f̷̩̜͚̤͇͔̿̋̓̐͜͝͝e̷̞͍̲̜̔̃́͝e̷̠̭͎̽̂̾̕d̷̛͈͓͉̮̦͔̼͈̳͔͙͊͌̌̊̔̏̊͂̔̚̚t̸̢̛̤̰̯͕͊̀̈́̈͛́̈̒̓͝͝h̴͖̠̱̝̣̼̩͕̥̭̜͊̍͗̋͛̾͋̌̍̒̓̍͝ę̴̛̯̮̰͖̝͎̼͎͙̼̻̻̺̈́͒̈́͐͂̔͒͘͠â̵̬̰͍̾̉ĺ̸̞͌̐͐̉̑̐̓͒̎̊̈͘͝g̸̛̩̥͌͋̌̊̑̌̈̓͝õ̴̡̯̥͔͓̙̪͓̫͓̞̞̣̜͓̅̀̑̉̒̋̇̄̐̋͝r̸̨̤̤̔̆̍͌̾̈́͆́̚͜į̶̨͓̗͚͚̳͉͕͚̝̪̳͍̲͌̈̊͗͛̎͌̌͒̏̒͋͘͝t̶̨̘͕̂̽̀̉͐̈́̎͌̌̿́̆̿h̴̡̥̺̤̳̘̳̜͈̝̤̱̾̐̽m̷͉͊̾̊̽̅́͋͋̍̂̋́̚̕͘
= D
reading about people grabbing multi-figures monthly as incomes in investments even in this crazy days in the market, any pointers on how to make substantial progress in earning? would be appreciated.
You've got to have an Idea on what you wanna invest in carefully before going in.
I make huge profits on my investment since I started trading with Mrs Carolyn kay, her trading strategies are top notch coupled with the little commission she charges on her trade.
I just searched this Broker you mentioned, Kay. She seems very proficient.
first comment :D
.
Sorry bro, you were 4th
@@xp8969 :(
Comics in the 90's....
Everything has a worth
REEEEEEEEEEEEEEEE U CNATY YALJK BAD ABOU NFT'S I SPENT 1000000000000000 DOLLARS SELLING MY NFTS NAD BUYING TISH COLO MONEY APE REEEEEEEEEEEEE
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
Who is watching in 2024?
5th
Sorry bro, you were 5th
@@xp8969 done
Nft's are a good idea it just depends on what you invest of it.
Lmfao
I sold a burger at a MCdonald's once
NFTs are very expensive and power intensive to mint. If you want to invest in something don't use NFTs.
I think nfts are bad idea
What's good about them?
That isn't what fungible means and I'm too upset to keep watching to see if this is satire.
Boo hoo, cry about it
Well..he isnt talking about nfts, hes talking about expeculative markets
You're missing out on a quality video... because of one word.
found the guy who got rich ($20) off nfts
Worthless....be warned.
Woman moment
🗿
True?
Wo*an don’t exist, it’s lie made up by elite to make more money and troll us
My NFT drip got this for free
crashed 2023!~