Monday, January 17, 2022

Why NTF's Are Bad

 Why NTF's Are Bad

 First they are destroying the environment.

Yeah, this is already a dangerous topic because of  bad information that has flooded the internet as well as the argument that but Rich Person is doing it!!

Let's give it a go.

First, Do Not Do NFT's.

Second, Do not Do Crypto Currency.

Third, Do Not Do Data Mining.

Ironically these things showed up in a different order. Crypto Currency -> Data Mining -> NTF's

I do remember when bit coin started and they literally could not give the stuff away. Some sites would give you one free bitcoin when you made an account with them! One whole coin!

Someone mentioned finding a contest were the people that placed 8th would get 25 bit coins. Which would never be seen or heard of happening today.

So for bit coins they need to be 'mined' to be worth more or some such. But because of the huge data usage they people that 'farm' the data managed to cause a shortage of computer parts long before the Pandemic and the Everready. Computer prices are actually just starting to come down a bit.

There is also the bit were crypto miners were being added to sites and apps without anyone's knowledge or permissions and slowing their devices because of it. There was so much crap going on.

Now, with the NTF's it's starting to go in a new direction but it's using so much more energy then can be supported. And for what?

A receipt.

Not an item, a receipt that they paid for a recite. They also tout that they are un-traceable. I'll get back to this little bit. You don't even get the item because you are only buying a receipt.

This has money laundering written all over it.

It's worse then the whole beanie baby thing from the 90's, mostly because of the money laundering.

There is some of the worst art work being purposely made to look that bad, going for $10,000 and that is assuming it's being sold by the original artist and not just stolen from them. They are trying to say that all funds go back to the artist that is selling them. Completely skipping over the rampant art theft that has been happening on the internet for years. 

They are trying to use this same false seance of safety to claim that right clicking + save image is some kind of super hacking. 

But this goes back to their "un-taceable" claim.

Remember the bitcoin Milionair that died with the only password to a wallet with  a whole bunch of peoples money? $190 million gone in a moment. Quite a few crypto sites think he faked his own death.

If one of these 'block chains' gets shut down all of the super secret receipts on it go away with it. Then all you have is a debit and not even your receipt that you paid money for. I have seen people on twitter desperate to get their hacked wallets back and all they get told is too bad.

And don't forget that the IRS is now going to be going after the transactions for NFT's.

Technically they have been watching this with banks and now they have the ability to go full on after them. And since no one was keeping track of who was selling to who, i wonder if the sites will be locking access until they sellers list the appropriate info like Tax ID or SS numbers? Seeing as the IRS will be able to go after them also.

Please do not go into the NFT's.

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