The most obvious stupid scam ever conceived and they actually managed to hook a bunch of actual corporations

Square Enix, Nickelodeon, Coke, KFC, and more fell for this shit while regular people were laughing about how obvious a con it was.

Really puts into question the capitalist myth of the genius entrepreneur and the idea that these corporate types are rich because they are smart or deserving in some way.

    • UlyssesT [he/him]English
      6•2 years ago

      Public ledgers fix a lot

      They also drastically multiply the amount of wasted electricity and dump a lot more carbon. It’s a solution trying to make its own problem to solve that also burns the planet that much faster.

      EDIT: NFTs are typically minted with Ethereum, which spends a lot of electricity already. If you want to dream up a magical version of a rent-seeking token that doesn’t do that, that’s cute, but it’s not what’s happening with rich techbros trying to get people to buy ledger spaces that are associated with ugly cartoons.

            • UlyssesT [he/him]English
              6•2 years ago

              I linked that article as an example of the waste emitted from related processes.

              I’m certain you’re being a bad faith peddler at this point, because again you’re sidestepping the energy costs of your magical world saving ledger position sales tokens.

              For people watching this comment chain, this is a decent starter summary of the grift that the above grifter is trying to peddle here:

              https://www.youtube.com/watch?v=XwMjPWOailQ

                • UlyssesT [he/him]English
                  4•2 years ago

                  The grift is okay because there are magical theoretical grifts that totally bypass those problems, pinkie promise, just around the corner as they always are.

                  My point is you’re a clown and peddling your rent-seeking bullshit here is disgusting.

        • UlyssesT [he/him]English
          4•2 years ago

          There’s a difference between using electricity and using more electricity, especially a lot more.

          EDIT: NFTs are typically minted with Ethereum, which spends a lot of electricity already. If you want to dream up a magical version of a rent-seeking token that doesn’t do that, that’s cute, but it’s not what’s happening with rich techbros trying to get people to buy ledger spaces that are associated with ugly cartoons.

          I get that you want to pull a “how do you do, fellow leftists” and peddle internet funny money and/or rent-seeking magic ledger spaces here. It’s not cool. Stop it.

    • ExternalAlpaca [none/use name]English
      8•2 years ago

      I’m going to approach this respectfully and with genuine curiosity.

      What’s your background in accounting that you’re so sure about public ledgers? I have bachelor’s and master’s degrees in it and was about 3 months away from becoming a fully licensed CPA when I had a heart attack at my desk and was told by my doctors that I had to change everything about my life.

      Literally every accountant who I know and respect deeply in this field, from PhDs to CPAs and on down, thinks that blockchain is a joke for business accounting. It can all be gamed even worse with phony transactions and contracts that have no real basis, rather than a genuinely audited financial statement. (That final phrase is a whole other topic for a whole other time… believe that.)

      The foundation of blockchain seems to rest on “we can see that it exists, so it must be true.” This is really not much further off from “we told you that it exists, so it must be true”. The idea of auditing is to prove what REALLY happened and what is REALLY true, not just what a piece of paper or a line on a screen says.

        • ExternalAlpaca [none/use name]English
          6•2 years ago

          Respectfully imma bow out as the global-ledger aspect seems to be confusing people who don’t understand the tech.

          Ok. I’m rather disappointed by that, but okay.

          If you’d like to come back around and suggest how the blockchain can prevent things like briefcases full of cash, moving money through several offshore subsidiaries, and outright sham transactions, I’m all ears.

          “Many such cases” always seems to be the fallback for anyone when they get challenged on blockchain being the future of the entire world and everything on it. You literally just can’t understand it.

            • ExternalAlpaca [none/use name]English
              7•2 years ago

              I literally don’t know what this post is even supposed to mean in relation to mine.

              One question for you. Be honest.

              Are you now, or have you ever been, a holder of GameStop or AMC stock?

                • ExternalAlpaca [none/use name]English
                  4•2 years ago

                  You said

                  No idea what a GameStop is

                  Your insistence that blockchain is the future and use of the Extremely SuperStonk term “hedgie circle jerk” has determined…

                  THAT IS A LIE

                  Even the equating of (former) accountants who work 80 hour weeks for $60,000 a year with hedge fund tycoons is the funniest thing I’ve heard all week, thanks, I’ve really been in a sour mood and needed it.