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U.S. Politics: Contempt and the Courts


Zorral
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11 hours ago, Tywin et al. said:

There's no great place to put this (@Fragile Bird, make your business news thread already), but this did truly warm my heart. Beware all these insane financial scams flooding pop culture:

https://www.bloomberg.com/news/articles/2022-04-13/dorsey-s-tweet-nft-fails-by-millions-in-resale-attempt-coindesk

Crypto and NFTs need some heavy regulation ASAP. 

Why would someone buy something that is available for free all over the internet?  This is like selling “NFTs” for images of Star Trek starships that are available everywhere…

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48 minutes ago, Mlle. Zabzie said:

Sooner rather than later.  Anecdotally I’ve seen a lot of RFIs running around about people wanting to tokenize otherwise (lightly) regulated products. This particular SEC will absolutely claim jurisdiction if something they already regulate (lightly) enters a block chain.  That said, a better edifice is needed, including on the taxation side.  

 

47 minutes ago, A Horse Named Stranger said:

Crypto yes, NFTs not so much.

Anybody who spends heavy money on an internet meme is a proper moron anyway, and you can't cure stupid.

If you want to talk about morons, money and the internet. Musk has apparently made an offer to buy twitter. If you ever wanted to know how to make twitter even worse. 

I think because of what MZ wrote you have to regulate NFTs as well. It's a scam and the government needs to protect consumers who don't really understand what they're getting into.

And let Musk buy Twitter. Its value will collapse and a lot of people will leave the platform. It would be a chef's kiss if he accidentally destroys something that frankly should not exist. 

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29 minutes ago, Ser Scot A Ellison said:

Why would someone buy something that is available for free all over the internet?  This is like selling “NFTs” for images of Star Trek starships that are available everywhere…

I laughed the first time I heard about NFTs. People were talking about buying sports clips and assigning values to them despite being able to watch them on YouTube for free. 

But then again, someone at Art Basel Miami duct taped a banana to a white wall and tried to sell it for over $100k. :dunno:

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8 minutes ago, Tywin et al. said:

I laughed the first time I heard about NFTs. People were talking about buying sports clips and assigning values to them despite being able to watch them on YouTube for free. 

But then again, someone at Art Basel Miami duct taped a banana to a white wall and tried to sell it for over $100k. :dunno:

I’m floored at what cryto-bros will spend their money on and brag to the world about their stupidity.

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20 minutes ago, Ser Scot A Ellison said:

I’m floored at what cryto-bros will spend their money on and brag to the world about their stupidity.

Is it really any different than some rich fuck buying their 20th luxury sports car? At least be creative:

 

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43 minutes ago, Tywin et al. said:

I think because of what MZ wrote you have to regulate NFTs as well. It's a scam and the government needs to protect consumers who don't really understand what they're getting into.

 

 

41 minutes ago, Tywin et al. said:

But then again, someone at Art Basel Miami duct taped a banana to a white wall and tried to sell it for over $100k. :dunno:

Personally, I don't view it as a scam necessarily. High Risk investment, yes. Art, arguably/maybe/dunno. If you argue those NFTs are pieces of art, and they are as speculative investment as a painting from a young unknown artist in some gallery in Tenessee, who am I to argue. I don't get it, but I don't understand much of art either. So maybe a NFT of a ductaped banana will be worth milions in an even more insane reality.

I mean if you go after tax evasion, you have to go after the art market in its entirety. If you happened to have a spare army, and want to make some money with it. You could rent them out to some warlords sure, but I think a more lucrative way of putting them to work is, breaking into one of those freeports.  There's one in NYC, so there's a fair chance that Zabz is at least aware of those things - I know, you don't help with tax avoidance, but some of your colleagues are probably more open to those dealings. Those things would be way higher on my agenda than fucking NFTs, if you want to battle tax avoidance.

Cryptocurrencies are another beast. 

Edited by A Horse Named Stranger
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8 minutes ago, A Horse Named Stranger said:

 

Personally, I don't view it as a scam necessarily. High Risk investment, yes. Art, arguably/maybe/dunno. If you argue those NFTs are pieces of art, and they are as speculative investment as a painting from a young unknown artist in some gallery in Tenessee, who am I to argue. I don't get it, but I don't understand much of art either. So maybe a NFT of a ductaped banana will be worth milions in an even more insane reality.

I mean if you go after tax evasion, you have to go after the art market in its entirety. If you happened to have a spare army, and want to make some money with it. You could rent them out to some warlords sure, but I think a more lucrative way of putting them to work is, breaking into one of those freeports.  There's one in NYC, so there's a fair chance that Zabz is at least aware of those things - I know, you don't help with tax avoidance, but some of your colleagues are probably more open to those dealings. Those things would be way higher on my agenda than fucking NFTs, if you want to battle tax avoidance.

Cryptocurrencies are another beast. 

NFT’s are the among the most stupid scams I have ever heard that people will waste money on.

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NFTs only exist in order to get people to buy cryptocurrency. You can't regulate the one without regulating the other.

To be fair, though, it's not so much regulation that's needed as prosecution. To the extent that there is any legitimate, non-fraudulent activity going on in either sphere, it's peripheral.

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8 minutes ago, mormont said:

NFTs only exist in order to get people to buy cryptocurrency. You can't regulate the one without regulating the other.

To be fair, though, it's not so much regulation that's needed as prosecution. To the extent that there is any legitimate, non-fraudulent activity going on in either sphere, it's peripheral.

Crypto seems to be a rip off to me as well and terrible for the environment.

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37 minutes ago, Ser Scot A Ellison said:

NFT’s are the among the most stupid scams I have ever heard that people will waste money on.

What? You're not keen on paying loads of money to own the receipt of something someone else owns? Shocker. 

 

47 minutes ago, A Horse Named Stranger said:

 

Personally, I don't view it as a scam necessarily. High Risk investment, yes. Art, arguably/maybe/dunno. If you argue those NFTs are pieces of art, and they are as speculative investment as a painting from a young unknown artist in some gallery in Tenessee, who am I to argue. I don't get it, but I don't understand much of art either. So maybe a NFT of a ductaped banana will be worth milions in an even more insane reality.

I feel like its a bit like multi level marketing, where you're building the value by introducing new people to it and then making off as the first mover and leaving others to hold the bag. 

Really wish governments would act on it and cryptocurrencies instead of sitting on the fence, semi encouraging it, hoping it pays off for them for fear of missing out. 

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3 minutes ago, Proudfeet said:

I feel like its a bit like multi level marketing, where you're building the value by introducing new people to it and then making off as the first mover and leaving others to hold the bag. 

“We’re not one of those shady ‘pyramid schemes’.  Our model is… the ‘Trapizoid’!”

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3 hours ago, mormont said:

NFTs only exist in order to get people to buy cryptocurrency. You can't regulate the one without regulating the other.

To be fair, though, it's not so much regulation that's needed as prosecution. To the extent that there is any legitimate, non-fraudulent activity going on in either sphere, it's peripheral.

Well, the giant money laundry aspect isn't entirely wrong for sure.  Regulation would presumably help visibility though. It's hard to prosecute what you can't find.

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4 hours ago, Tywin et al. said:

And let Musk buy Twitter. Its value will collapse and a lot of people will leave the platform. It would be a chef's kiss if he accidentally destroys something that frankly should not exist. 

The emphasized is interesting. What's your reasoning, Ty?

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Abbot's clearing trying to eff up the rest of the country.

So where in hell are all the truckers whose livings and comfort are destroyed by Abbot right his minute?  Why aren't they protesting this interference with them making a living?

Edited by Zorral
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