Thick Thighs Save Lives
NeoGAF's Physical Games Advocate Extraordinaire
GameStop bids a final farewell to crypto with the closure of its NFT marketplace
Who could have predicted.
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GameStop bids a final farewell to crypto with the closure of its NFT marketplace
- Thread starter Thick Thighs Save Lives
- Start date
- News Business
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Cyberpunkd
Member
Klik
Member
This doesn't make any sense. Bitcoin is up 150% since last year and SEC just approved Bitcoin ETF.
Also don't compare commodity like bitcoin with crypto in general
Hudo
Member
I have yet to see any interesting applications of Crypto stuff outside bullshit like crypto currencies or NFTs.
Most papers that concerned themselves with applying crypto stuff to any sort of problems were just buzzword circle jerks, that existed because there were a lot of grants to be had.
TommyCronin6969
Member
They should rebrand as StopGame and just embrace the blockchain.
Even assuming that crypto currencies are "bullshit" how does this relate to your incorrect idea that Sam BF is a hero because he tanked the crypto movement?
YeulEmeralda
Linux User
Drugs, CSAM. Whenever somebody needs a payment method that cannot be monitored or traced ask yourself WHY they need it.
*Nightwing
Banned
Klik
Member
Well bitcoin acts as a great store of value. 99.9% other crypto are scams and dont have utility.
NFT and tokenization is great idea(not talking about moneky pics) for example tokenization of tickets, licences etc. Those things take time, to build infrastructure around it etc. You can't expect that 10 years would be enough for that.Just because now isn't utilized doesnt mean it will never be.
Cyberpunkd
Member
Vanguard won't offer spot bitcoin ETFs, says high volatility is bad for generating long-term returns
As trading of spot bitcoin funds got off to a first day of trading in the U.S., Vanguard users were not able to participate.
You sure about that?
Probably not today but in the future when payment processors ban you for your social media posts
Klik
Member
Really objective. What about 11 others ETF's that hold 15 trillion $ in total?Vanguard won't offer spot bitcoin ETFs, says high volatility is bad for generating long-term returns
As trading of spot bitcoin funds got off to a first day of trading in the U.S., Vanguard users were not able to participate.www.theblock.co
You sure about that?
Funny how Vanguard is Microstrategy biggest shareholder and is also investing in bitcoin mining. Probably just a mattef of time when they will also give btc approval
FeralEcho
Member
But why .... Anyone who goes into such an obvious failure of an endeavour on his own acord despite the millions of warning signs deserves what they get.
StereoVsn
Gold Member
Utilizing blockchain tokens for tickets or whatnot has nothing to do with cryptocurrency.
The latter specifically is speculative bullshit mostly used by criminals, speculators (tech bros and wall street) and really has no value to economy.
Edit: I forgot about tax avoidance. Although an important application.
Edit 2: The only thing of value I can think of is helping people transfer money under sketchy regimes.
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Klik
Member
It has value because people give it value. Gold has also value, even though only 5% is used in industry.
Since bitcoin blockchain is transparent it would be bad idea to use it for criminal acts because every transaction is visible and cant be revert/hide.
And yet fiat currency is still the preferred choice of criminals for money laundering, 800 times more than cryptocurrencies.. But yeah lets blame bitcoin
Shadowstar39
Member
I wouldn't say that as you can say the same for cold hard cash. Something our governments would love to get rid of. Why as it means no non taxed personal sales. It also would mean you could lock people out of buying and selling for wrongthink or any number of reasons. So yeah, Id prefer to have a non-traced option for currency. Thing is block chain isn't it, we already have it with cash.
Klik
Member
Big problem is bitcoin, its not that FED printed 6 trillion $ in 2 years and give themself huge bonuses and they left us with inflation.Now you have 50% basically real inflation, people have to get 2nd job to just to survive. It ok that in 2008 financial crisis banks got huge bailouts, give themselfs big bonuses and nobody even went to jail.
Its ok we're just printing money, devaluating our currency and your purchasing power is lower and lower. How much money now people need to afford housing?
No of course its bitcoin problem. God forbid that people want to save some money, that people want to keep their purchasing power and not be eaten by inflation, god forbid people want to save some money for retirement or buying a house. Gold and SP500 are basically just following inflation, you basically get 5-6% average return YoY. God forbid peple want something morey, investing in something that is scarce and that keep value in long term.
You're biased and anti-bitcoin without any knowledge so im done wasting time. Feel like bee trying to explain to flie why is honey better than shit.
People like you saying for last 15 years bitcoin is ponzi,scam, whatever. You have been WRONG for past 15 years in terms of adoption in terms of store of value and price. And you keep thinking you're right.
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CuteFaceJay
Member
Didn't even know they were in the NFT BS.
SmokedMeat
Gamer™
A big battle has been won, but the war will never end.
The industry will return with something else to try and scam players into.
The industry will return with something else to try and scam players into.
GeekGuyWithGlasses
Member
StereoVsn
Gold Member
Yep, Crypto is religion to tech bros, so there isn’t even a point of arguing. Just look above for the strawman, lol.
ReBurn
Gold Member
The thing that makes NFT untrustworthy is the connection to cryptocurrency to back its value. Most people are going to want a more stable and probably better regulated method than crypto exchanges to fully embrace it.
The idea behind non-fungibility of digital goods and a blockchain to prove title and ownership history of digital property isn't a bad one. It's just not trustworthy as long as the keystores are tied to crypto exchanges instead of a universally recognized and properly regulated governing body with a recognized currency. If we had such a body people would probably trust the transition to digital goods more, especially if it gave them resale and portability rights.
GeekGuyWithGlasses
Member
maybe one day this whole crypto stuff will be a good idea but until then, I will call it as it is showing: a complete farce and moneypit to fleece people still believing in Santa