Lark Davis Shared: Lots of chatter about the people buying pictures of apes for hundreds of thousands or millions, not much mention of the geniuses selling those pictures! Well done! NFT crypto.

Community Response: 

The only reason to buy an NFT is to sell it for higher rate, which basically means we all scam each other until the last person takes the fall for it.  Bitcoin on the other hand is much different. It is actually useful.

I must admit, this is one part of the crypto industry I do NOT understand. I am not against it. I just have a hard time wrapping my brain around it.

People sell NFTs to themselves using multiple wallets, generating their own value on this nonsense. I make ape NFT, sell it to myself for a million, now it has a million in value on it!  But won’t the ETH gas fees just defeat the whole concept?

Because it pure luck. There’s very little way to analyze what is good or not. At least at mint.

It’s this young generation who somehow manage to turn the most idiotic things into value. We won’t have anyone to build America one day, but may have an abundance of monkey pics.

Lots of people making bullshit promises to give away their supposed NFT’s to a lucky winner so they can “change lives”.

We are all laughing at those people buying million dollar jpegs.  The sellers are the smart ones. The buyers will be lucky to ever get their full investment back. 2nd hand markets do not exist for NFT.

Yes, there’s a lot of $ being made with NFTs, but let’s not forget some of the heartbreaking stories as well from the NFT community.

Yeah, those monkey jpegs are the biggest scam in history for money laundering.  Some people will lose tons of money.

So true. Forget about trying to justify the price of images. Who are the masterminds behind creating the platforms bringing value and utility to these images?

The value of art has always been abstract, for sure NFT is a revolution when it comes to it. In fact, whoever managed to sell it is a genius, speculation and rarity that make the collection so special.

Exactly platforms like syscoin must seriously be commended. syscoin Platform offers fast and low-cost tokens, assets, and NFTs secured by Bitcoin’s censorship-resistance and hashrate.

When NFTs are used as proof of ownership for things that you actually need like a car, house, passport, ID etc. they will be revolutionary and the world will be a better place. The jpeg NFTs are IMO a good way of testing the tech before applying it to something really important.

I don’t really understand why people are buying NFT when you can just invest this money in bitcoin? NFT up 10000% last 9 months. Bitcoin down 30%

They are not just pictures they are memberships.  That’s the trick.   Network groups of millionaires and billionaires. Where else you can get that?