Am I the only one who loves BTC but hates the Metaverse idea and the NFTs?

[LUCKMCFLY]

I am not a hater of any, these platforms and projects are proof the market is developing and growing, so why stop it and limit it to bitcoin only? I mean, bitcoin is good, it's the father of all cryptocurrencies but we should not only stop from there as the more the market will grow the more it will be easier to adopt.

I also have that perception, however, when evaluating many events that occurred in 2021, if we start to see the NFT games, the majority came out as scams, as ponzi models in execution, but if you are fundamentally right when you affirm that thanks to those NFTs and others people begin to see BTC, and they know that it has a very great value, obviously any person when they find out what BTC represents wants to own, even if it is a small part but wants to own it, this actually works as a possible adoption for those who have never heard or seen the BTC or BTC market.

[1714077380]

1714077380

[mindrust]

No you are definitely not the only one. I don't see any value in both of these projects neither but some people probably do. And there are also some other people who want to make money from this even though they don't really like the idea. Just because you don't like something don't mean you can't profit from it.

[pooya87]

NFT is like a property/patent ownership registry.

Wrong.

Since they claim to be decentralized and we know there is no regulations and law enforcement involved, they do NOT register ownership or anything like that, they only create illusion of it.
Any registry on any of these platforms could be duplicated multiple times on the same platform or other platforms. For example those selling "art NFT" can easily sell it more than once to more than one person on one or more token platform and there is absolutely nothing stopping them from doing so.

If we centralize this whole thing then there is no point in having the "token" and "blockchain technology" in first place, we already have centralized entities with their own databases that are doing a pretty good job at registering stuff.

[smartaction]

Metaverse technology is good but NFT is totally Unnecessary . NFT just lost people huge money for collect Art , picture , video or something else . I also hate NFT like OP. Bitcoin is always good . and best digital currency. Which have better future and BTC is profitable digital asset

[Ghepetto]

my worthless input;


The ORIGINAL metaverse was Star Wars Galaxies.  Period.   Anybody who knows what I speak of understands.  I am both a collector and a gamer.  I collect original movie posters up to the 70's, comics, toys, autos, movie props and art.

My initial impression of NFT's was -bullshit-  110%

So I decided to dump some eth on NFT's for the experience, to learn.  To test the waters sometimes costs, I don't mind paying to learn if I have to.   But my ass still hurts because of the eth gas fees.

Paying 50k for some shitty artwork of some dumbass monkey seemed ridiculous and moronic to me.   And I still feel the same.  This is because the artist was horrible at best.

I am also a musician, not professional because it meant so much to me that I made the decision very early on in life that I would rather gain confidence from my skills rather than monetize it.  Spread good energy at every gig I played.  And the fact is the best guitarist is probably 80 years old on the streets of Spain somewhere that never made a dime and nobody has ever heard of, and never will.  So I didn't want to corrupt something that gave me self worth through intense discipline and devotion for a paycheck.  What music does for me in my life gives me something that has no price tag, and can not be paid for.

So I jumped in as an experiment, not to invest bought some bullshit NFT's my son found. 

After buying a few I sent one to consolidate them all on one account to myself, and I was like damn I feel like I just moved some crypto to a different wallet.  And my outlook started to change for NFT's.  Fast forward a few months I bought Ghost Recon and got a few NFT drops on the Tezos chain while grinding my toon.   Worthless, no market, no volume, and press coverage saying it was an epic flop and they proclaimed gamers don't get it at all. 

Made me think if SWG had nft's I'd be a billionaire, easily.   Back then ebay allowed the sale of digital items, and a Krayt enhanced T21 rifle with a 50% damage slice (as long as the tissues were 190+) sold for 600 bucks, 200 million credits sold for 300 bucks.  It paved the way for the pay to win crap we see today.  And everyone that played SWG knew all the dumbass gamers that had no skill or drive to overcome or die, well, they played WOW.

I want to know who planted a toon named Satoshi Nakamoto outside Coronet on the Bloodfin server in the shopping area that never moved, never played and never spoke.  That's another topic.  The server shut down in 2011 but this occurred years before that by my estimates.  I was crypto illiterate back then, but I remember it because it was not far from my vendor and it was always there.  All day, every day.

So with all this being said, there is no fucking way I'm paying anything for some god damn gorilla picture.


However


NFT's do put the art back in the hands of the artist and cuts out the record labels, art galleries, publishers, Hollywood etc in the same way Btc renders the banksters irrelevant.   Like Kodak film, nobody hates it, we simply no longer need it.   And the fact that if I sell an NFT (be it art music or video) that I created, well I can make it so I get 4% of all future sales.  So if I sell it for 100 bucks and someone else sells it for 4 million, I get a cut, every time it sells.  This is extremely disruptive, which I love.  Blockchain redefines reality in this way.  It's a tool to stomp out the entities that have been mooching off others that actually have talent.  I admire the dumbass grilla NFT's ability to sell for millions and pave the way for real artists, but at the same time I want no part of it.


All this being said I agree with the previous posts that say the best cases for the NFT are the deed to a house or the title to a car.   The problem for artists is they can create beautiful things, make them into an nft- but they might have a difficult time advertising it because that costs money.   However I am looking into some sort of solution for this, via the correct social environment.   

So, I believe that NFT's have a future and I don't think we have even seen it's true potential yet.   But you can keep the ape.

[FinneysTrueVision]

It's annoying that there is so much attention on NFT's and people who are uneducated about crypto automatically associate them with Bitcoin. People see millions of dollars being thrown around at some hideous monkey pictures and assume that anything having to do with cryptocurrency is scammy. I don't have the same visceral hatred towards NFTs as some other people, but I think the trend has gotten way out of hand and it would make me happy to see it come crashing down to some reasonable levels. I would rather see the money being put into NFTs be invested in something more worthwhile.

[Ararbermas]

For sure it's all about the hypes why a lot of people wants to spend their money by investing NFT's and metaverse wherein no other reason. because obviously nowadays you can really get massive returns only especially in just a short period of time if you will ride which is popular around the internet. So that what is happening right now, i mean no one wants to miss the opportunity when it comes NFT's and meta.

[kamilah147]

in this case it's not only you who don't like metaverse and NFT, but also many people and crypto developers are also less interested in it, because this seems like a fool in thinking common sense but this is the technological development of our world today which looks increasingly strange but also There are many fans of the current metaverse and NFT, which we consider to be people who are full of hallucinations, but not everyone who joins them enjoys the facilities spiritually, but some of them only use it to seek profit which is considered to have many profit opportunities in it.
I see this as people who sell UC on PUBG games and top up on other games, they look stupid to buyers but look smart to those who sell just for profit.
see in terms of benefits even though sometimes it looks strange.

[virasog]

I'm yet to drive into the Metaverse; have read a few articles & got a little idea about it. I won't say I liked the idea or disliked but to be honest, I would appreciate any development which would make our life easier. I guess there are many people out there who either don't like Metaverse or have no interest to know about either; mostly I believe the bitcoin maximalists are of that sort.

I have read several articles and have a vague understanding of the metaverses, but I probably have no negative attitude towards them. I don't like the NFT idea, there is a lot of unnecessary rubbish and the majority understands this well. Metaverses have a right to exist, but this is just a temporary fad until something more interesting appears on the market.

We need to understand from where all these ideas of NFT and metaverse come from? First, we have the bitcoin and then all the altcoins came into existence and then we have stuff like metaverse and nfts. So if there was no blockchain, no bitcoin and there would be no such innovations. So i think that in a broader perspective everything is linked to bitcoin as a whole.

[fzkto]

Without going into too much detail, metaverses can be seen as a normal computer game, such as Minecraft. It's just that there's been a hype and that's why metaverses are too popular. It's the same with NFT. History is repeating itself. There used to be a rush for ICOs, which then, if not scammed, lost 99% of their value. I think the same thing will happen to NFT in the future when owners of jpeg-monkeys, punks, penises and who knows what else will be left with nothing. But you have to hand it to the metaverses and NFT, thanks to them the crypto market is booming right now.  

[im posible]

I also can't think logically about this metaverse and NFT technology. This technology seems to invite humans to carry out online activities continuously without involving real and healthy physical activities.
On the other hand, this technology is beneficial from a financial point of view and for people who are engaged in the creative industry. Where it can be easier to get money than the previous way.

[Marykeller]

My major problem with NFTs is how to market them on opensea. I find it difficult to understand how it is been done. I have some NFTs gotten from Airdrop. Am just accumulating them cos NFTs received today might be worth thousands of dollars tomorrow.
In an actual sense, bitcoin remains my best, second by Metaverse

[franky1]

NFT is like a property/patent ownership registry.

Wrong.

Since they claim to be decentralized and we know there is no regulations and law enforcement involved, they do NOT register ownership or anything like that, they only create illusion of it.
Any registry on any of these platforms could be duplicated multiple times on the same platform or other platforms. For example those selling "art NFT" can easily sell it more than once to more than one person on one or more token platform and there is absolutely nothing stopping them from doing so.

the idea is that because its a public ledger, it can be used like a copyright timestamp. where a file has a unique id for the exact bytes meaning if 2 items are the same, only one can be 'owned', which is usually the first one seen

if seen being sold on a different ledger claiming to be a property registry, then you take them to court displaying your proof of timestamp ownership preceeds some other person trying to sell something with same hash id.

a standard old fashioned copyright/patent office also does not have law enforcement involved by default. they are just the register, not the law enforcement, they have no authority to chase after people.. taking someone to court is a separate activity done by the owner, not the registry office

of course the flaws are:
1) its like a patent/copyright register.. no one ever said the old fashioned copyright register has the courtroom/punishment attached to it by default, it requires humans to make the connection between a product and a timestamp and ownership proof, and then more human activity to still find the real life human 'thief/counterfeiter' and serving them a court order to appear
in both standard copyright cases and NFT cases.

2) just change one byte of the file, changes the hash. thus not selling the same 'hash'. thus easy to counter the hash log and sell duplicates.
funnily enough, artists are doing this, selling a graphic character with a very slight difference. thus breaking any copyright possible claim of 'similar work'/counterfeit. by validating that altering just the most insignificant detail makes it unique. thus harder to then claim copyright ownership in court because a slightest most insignificant change, is treated as unique work, not similar work in the nft world.

3) it requires watching every market and site offering products(much the same as old fashioned copright), IF you do spot it then it comes into the counterfeit, plagiarism, copyright arena debate in court of how close to the other art is the second piece copying.(then see flaw (2)&(1) for how thats not automatic and not easy either)

4) if there are other copyright ledgers(nft ledger) its then even less easy to spot(3) unless you are watching every ledger and knowing what is associated with the hashes to compare to the one on the ledger you use,(then see flaw (2)&(1) for how thats not automatic and not easy either)


you are right that ledgers cant do much, ledgers are not a court that hand out penalties like prison terms so it does require old fashioned things like human watchers, moderators and real world courts.

you are also right that there can be a bitcoin backed NFT copyright ledger, heck there is already polygon, klaytn and a ethereum copyright ledger. (much like europe, asia, uk and US have separate old fashioned copyright registries) where jurisdictions and courts then having the hassle of proving which one is the true first and true owner (which is not automatic(see flaw (2) and (1))

My major problem with NFTs is how to market them on opensea. I find it difficult to understand how it is been done.

alot of the large news media sensational headline stories, are where funds 'spent' are actually people buying their own art to get some viral news story recognition.(hint, a tactic marykeller can try)
thus not costing anything. the buyer is the seller, the seller is the buyer. so no real cost bar the 'gas'
yes this tactic is not new.

ebay used to have people selling things to themselves to show a ebay 'sold' listing at a high price, to then have them going out to other markets or seen in news media, to then list the product again trying to get others to buy for similar high price using the first 'sold' listing' as the valuator
.. also some of the items are sold to themselves multiple times to show fake volume to get listed higher listing pages.
(most of the news media viral stories, are not idiots buying something expensive, but business minded people shuffling their own funds back to themselves to trigger a fake listed value)


that said, even when ebay was listing things like a UK 50pence piece for £500. not many actually fell into that trick, not many actually paid £500 for something really worth 0.1% of 'sold listed' price, it was usually just a couple people selling to themselves hundreds of times, to make it appear that there is demand and value in the item

yes media used to show many stories about a 50p worth £500 being sold multiple times.. but there were more news stories advertising the headline, than there were victims of the trick

as for others thinking that alot of money has gone through NFT. .. not really
NFT is not something that actually has 'millions of people', its more like thousands of people pretending to be hundreds of millions of people.
(yea dont worry much about the sudden jump of 'unique ethereum addresses created' from ~1m to ~190m in the last 5 years)

if you look at the blocksize of ethereum. its only average blocks are 150kbytes, meaning very few (dozen a block) transactions are happening per block. so its not really that much activity really happening with not that many people actually buying fresh eth to then move it to then buy nft

[Taskford]

My major problem with NFTs is how to market them on opensea. I find it difficult to understand how it is been done. I have some NFTs gotten from Airdrop. Am just accumulating them cos NFTs received today might be worth thousands of dollars tomorrow.
In an actual sense, bitcoin remains my best, second by Metaverse

Well marketing is one important factor to sell your NFT on opensea since if you don't have anything to introduce your project well provably buyers will skip what you sell and go to the project where people hype it up. I also have NFT's from airdrop but I don't expect anything on it since mostly the one we got from airdrop has no value.

[cheezcarls]

I don't find any real usability for this Metaverse: actually I think it will only make people and society dumber and closer to the Idiocracy movie. Spending time online wearing some stupid glasses it's a no no for me. Also the NFTs are a waste of time and money, I wouldn't buy useless digital shoes and buildings. I love BTC and have diamond hands but these 2 things I'm not a fan of and I know I will never be. Society needs to become wiser not dumber. Living in a digital realm sucks, I'm a human being not a stupid machine. Rant over.

Of course, just like in any other niches and interests, NFTs and metaverse is for everyone, but not actually for “everyone”. I understand and respect your opinions here.

Call me crazy but I really like to invest something that is “impossible in the minds” of most people, whether if they are into Bitcoin or not. Even in the early days of Bitcoin, I am one of those who are calling it “impossible” and “delusional”, until I’ve regretted it big time not risking my small money into BTC while it was still cheap.

One example in the traditional world is no other than the Moderna vaccine. During it’s early stages, my godfather from the United States who is a medical professional, have invested into Moderna stocks. Although that most of us back then are calling these vaccines “impossible” that it was developed so fast thanks to the combination of the current technology along with science (compare to the previous pandemic where a vaccine takes several years to develop), he saw it as an opportunity and decided to invest some stocks in it. As of this date, Moderna’s value in the stock market rise and he benefited from it.

Now same thing goes to the NFT and metaverse. I consider that this is still in early stages, so whether you like it or not, I have began my venture since last year. Most of the NFTs I’ve bought are from play to earn games like Blankos Block Party, etc., and sold it for profit when the prices and value of each NFT have skyrocketed. I also had collectibles, virtual lands/plots/real estate, etc.

I am aware of the risks so I don’t mind and consider the amount that I’ve invested as “dead money”. So I took that chance, and never repeat the same mistake as I have missed BTC during the early days.

[DeathAngel]

My hand is up in the air too OP. I’m not interested in any of that nonsense, I have a few alts but the vast majority of my net worth is in bitcoin. I have no interest in NFT’s or any of that Metaverse nonsense. I know people have done really well out of NFT’s but simply HODLING bitcoin has never failed me, it’s my tried & trusted method of increasing my net worth & I am not about to change that now.

[e_abrams]

I confess I am feeling a little sceptical when it comes to NFTs. Ever since they started getting popular they have come off as a fad to me. Who knows, maybe I'm wrong and they are here to stay. Some people sure are profiting off them.

[jaberwock]

We need to understand from where all these ideas of NFT and metaverse come from? First, we have the bitcoin and then all the altcoins came into existence and then we have stuff like metaverse and nfts. So if there was no blockchain, no bitcoin and there would be no such innovations. So i think that in a broader perspective everything is linked to bitcoin as a whole.

Not linked to bitcoin or blockchain because before both of this came out the technology is already evolving. We have virtual reality gadgets that is used on video games, movies and videos. The idea of metaverse came because of it but for the nft's?

It started out with the crypto kitties game , a game that exist in the blockchain and uses cryptos as their in game currencies. If no cryptos and blockchain I am not sure if there will be nft's. It is wrong if we put a hate into something that does not harm us. Can we just leave them if we do not like them because they will also wont care for us or to our interest. We like bitcoins and cryptos, nothing else. So, be it.

[wxa7115]

I don't find any real usability for this Metaverse: actually I think it will only make people and society dumber and closer to the Idiocracy movie. Spending time online wearing some stupid glasses it's a no no for me. Also the NFTs are a waste of time and money, I wouldn't buy useless digital shoes and buildings. I love BTC and have diamond hands but these 2 things I'm not a fan of and I know I will never be. Society needs to become wiser not dumber. Living in a digital realm sucks, I'm a human being not a stupid machine. Rant over.

I am not a fan either but that is where we are headed, and in fact this is nothing new, Second Life has existed for almost two decades and it has very similar concepts to the metaverse and NFT, in which people had a virtual life and could buy and sell virtual property.

In a nutshell they are the very same thing with the difference this time around the experience it seems is going to be way more immersive, and since I think this is something people will actually want there is now way to stop it, even if we do not like it.

[Renampun]

I don't find any real usability for this Metaverse: actually I think it will only make people and society dumber and closer to the Idiocracy movie. Spending time online wearing some stupid glasses it's a no no for me. Also the NFTs are a waste of time and money, I wouldn't buy useless digital shoes and buildings. I love BTC and have diamond hands but these 2 things I'm not a fan of and I know I will never be. Society needs to become wiser not dumber. Living in a digital realm sucks, I'm a human being not a stupid machine. Rant over.

I also feel the same way as you but we are helpless because there are so many people who like metaverse lol...

Until now I have never invested in a metaverse project, my husband and I believe in Bitcoin more than having to bet on concepts that can't actually be applied to the public. I'm not against metaverse I just don't really like those who support metaverse tokens more than bitcoin.