Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2026 Poal.co

(post is archived)

[–] • 14 pts

If you think crypto is gay, wait until you learn about fractional reserve banking.

[–] • 3 pts

Yep. Crypto is super duper gay. You shouldn't learn anything about it. Being poor is super fun.

[–] • 1 pt

Fed reduced reserve limits for bank lending to 0%. Banks don't need any reserve anymore to lend. Think about that, unlimited currency and debt generation.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20200315b.htm

[–] • 1 pt

And the stupid goy pays interest on money created out of thin air. DOTR cant come soon enough

[–] • 1 pt

halfing event, you say?

[–] • 0 pt

Having? No, the US dollar is doubling and on its way to tripling.

[–] • 0 pt

It's a BTC term.

[–] • 4 pts

I can somewhat understand the concept of NFTs for recording ownership of physical assets (e.g. "Bob Jones owned the house at 123 Main Street, Kenosha Wisconsin") , or virtual assets ("Bob Jones owns a +3 Flaming Sword of Homoeroticism on World of Warcraft"), but I haven't been able to wrap my head around NFTs for digital art and other things where the NFT is just a hyperlink to a file stored on cloud storage somewhere. What's the point? Anyone can browse to the same URL and copy the contents therein.

[–] • 6 pts

What’s the point? Money laundering, plain and simple.

[–] • 1 pt

Exactly. But ultimately money laundering isn’t a bad thing unless you’re a criminal. It allows us to hide from the IRS which is a really good thing.

[–] • 0 pt

Actually, yes. Money laundering is and always has been one of the main focal points of anything art. The difference is this is a brief development period where people slowly learn that NFTs have significantly wider uses than just "hey look at this picture I own." Right now, all they're doing is proving ownership of images. It's not like people can't just screens hot them... NFTs are an inevitable Legal tool.

[–] • 5 pts

After giving it some more though, and I could be wrong, but it seems NFT can function as a way to reconcile ownership of digital goods. Slowly, a lot of the things we have bought online we have lost ownership of to the point where when you buy a game, for example, you never buy the game, just the license to use it. My understanding with NFTs is that anything you buy is actually yours to do as you please.

A place where this would work well would be in gaming which has already started, the idea is that digital goods you encounter or buy are yours much like any physical good. It may give you more ownership of it to the point where you can buy and sell it. While something like this already exists in many services, the small print dictate that it is never your item to begin with, so it can be taken away from you without notice.

While its current application is limited, the potential to establish some kind of ownership over digital goods would be a nice switt kick in the ass of many companies that dwelve in digital goods.

[–] • 3 pts

Yep you get it. It's the use case of linking to an image that's bullshit, not the technology of NFTs itself.

[–] • 0 pt

World of Warcraft use to be huge. People would sell thier leveled up characters on the down low. Now maybe the same thing could happen but in a open market.

[–] • 2 pts

Why hold any USD when we can print our own? My understanding is people that are into it treat it as an asset and trade among others who view it the same, enough people value it to the point where it has a price attached to it.

[–] • 4 pts

So, basically the same as tulipmania. The greater fool theory works until it doesn't.

[–] • 0 pt

Print your own? Who are you? George Floyd?

[–] • 1 pt

You can't even buy fruit with funny money. That's bananas.

[–] • 1 pt

This is an obvious problem people aren't realizing quickly enough. The idea of NFTs being about fucking jpegs is laughable. Instead the idea is tokenized proof of ownership. You'll see things like car or house deeds, concert tickets or in-game cosmetic ownership emerge as NFT use cases. Just don't tell anyone yet. Let them slowly figure it out so we can make money while they lag behind like the foolish faggots they are.

[–] • 1 pt

IOT. A SSN now becomes an NFT, traceable on “the block-chain”.

[–] • 1 pt

that part is just money laundering and marketing. the end point of NFTs is to try to end piracy which is why companies are taking it seriously. everything on the blockchain or 'web3.0' is/will be tracked and recorded. The NFT is the authorisation licence. so for example Amazon will be given the NFT rights to sell a book. if you try to do the same on your random site, it can be checked to see if you're an authorised seller or not and track where it came from to fine and charge you.

[–] • 2 pts

Good. NFTs are gay.

[–] • 1 pt

Correction: NFTs that are just a link to an image or file are fucking gay.

There are many other uses of NFTs that aren't fucking retarded like that, but they involve programmers doing actual work to create, rather than lazy fucktard artists just uploading an image they doodled in MS Paint.

[–] • 1 pt

Right. The peoples buying and selling this “digital art“ have lost their minds, or they’re money launderers. But NFTs are a good way to have a digital unique copy of something, like a digital ID, verifying documents as genuine, or anything that you don’t want someone else to reproduce in the digital sphere. They have a use, but they are not put to that use yet

[–] • 0 pt

Out of genuine interest, what NFTs wouldn’t be the equivalent of a jpeg or mp3?

[–] • 1 pt

NFTs that generate attributes inside the contract code, including generating the art itself inside the contract.

One simple example of this is LOOT, it generates the item list for a unique loot bag per-token. The same team now has a "Realms" token that generates a unique fantasy map per token.

There's a lot of stuff that can be done there though it's tricky to work around the limits of what can be output on-chain by the code that runs in the contract.

[–] • 1 pt

Yah mane dats what we do

[–] • 1 pt

I don't think it matters. It is the "ownership" token being in someone's control and verified on the network that matters.

That being said, NFTs are baseball cards for retarded zoomers.

[–] • 0 pt

I am surprised the art isn't stored on the Blockchain because if it's just a link then ownership can be forged by switching the link.

What about the one that sold for millions a few months ago?

[–] [deleted] • 0 pt

I guess it's like money?

It has no value until someone thinks it does?

Hype it inflate it profit?

[–] • 0 pt

A 404 error doesn't mean it went offline. It means the computer yours is trying to talk to said 'idk about that'. They're still talking.

[–] • 0 pt

Lol it's not a real 404, just the title of an article on the site https://arweave.news/nft-404/

[–] • 0 pt

Somebody paid $7.5M for some pixel art? I'm guessing there's a way to lookup all these purchases? I'm betting there's a lot of purchases like that. And no way to track who the people are? Sounds like the perfect money laundering mechanism.

[–] • 0 pt

People nowadays say "follow the money" People of the future will say "follow the blockchain"