People lost billions of dollars due to NFT scams

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Current Events » People lost billions of dollars due to NFT scams
Gobstoppers12
10/21/2023
09:10 AM
#1
Whether they were rug pulls or malicious trades between users, NFTs cost people billions of dollars in a very short time.

In hindsight, it seemed really ridiculous that someone would pay hundreds of thousands of dollars for a receipt saying they owned a low effort picture of a monkey.

It also seemed ridiculous at the time, too. No hindsight required.

What a weird time in our history that was.
(He/Him)
I write Naruto Fanfiction. But I am definitely not a furry.
R1masher
10/21/2023
09:11 AM
#2
Wish I lost a billion dollars
R1R1R1R1R1R1
GeraldDarko
10/21/2023
09:12 AM
#3
R1masher posted...
Wish I lost a billion dollars
I'll help you with that if you ever get a billion dollars.
Carpe petat
reincarnator07
10/21/2023
09:13 AM
#4
Gobstoppers12 posted...
Whether they were rug pulls or malicious trades between users, NFTs cost people billions of dollars in a very short time.

In hindsight, it seemed really ridiculous that someone would pay hundreds of thousands of dollars for a receipt saying they owned a low effort picture of a monkey.

It also seemed ridiculous at the time, too. No hindsight required.

What a weird time in our history that was.
They don't even have that. All the receipt says they have is an entry in a database which is signified by a low effort picture of a monkey. It does not even say they own the low effort picture of a monkey.
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bfslick50
10/21/2023
09:15 AM
#5
A lot of the people who lost a lot of money were essentially bad scammers. They didn't actually value the NFT at what they paid for, but they assumed they could con someone else into paying even more for it.
"Something's wrong! Murder isn't working and that's all we're good at." ~Futurama
Irony
10/21/2023
09:15 AM
#6
https://gamefaqs.gamespot.com/a/user_image/1/6/7/AAJHVqAADOGH.jpg
See profile pic
The_Popo
10/21/2023
09:15 AM
#7
Gobstoppers12 posted...
In hindsight , it seemed really ridiculous that someone would pay hundreds of thousands of dollars for a receipt saying they owned a low effort picture of a monkey.

Hell no - it seemed fucking dumb as hell in the moment. Only a buncha suckers thought they were making an actual investment.
Live action Hungry Hungry Hippos though, now that was a sport. ~Aeon Azuran
Rika_Furude
10/21/2023
09:16 AM
#8
you have to be a special kind of stupid to fall for that shit

its easy to say in hindsight it was a scam. but it was also easy to say it was a scam at the start and through the middle as well
Gobstoppers12
10/21/2023
09:18 AM
#9
The_Popo posted...
Hell no - it seems fucking dumb as hell in the moment. Only a buncha suckers thought they were making an actual investment.
Yeah, lol. That's why I said that in my OP too.

Gobstoppers12 posted...
It also seemed ridiculous at the time, too. No hindsight required.

It was such a fascinating thing to watch. So many unforgettable train wrecks came from that situation.

I think my favorite one was that insanely bad Seth Green show using his monkey, then his monkey got stolen so he didn't have the rights to make the show anymore, then he bought it back...

God I hope that show comes out someday. I would love to see reaction and review videos on YouTube for it.
(He/Him)
I write Naruto Fanfiction. But I am definitely not a furry.
Dark_Arbron
10/21/2023
09:19 AM
#10
Sooner or later someone will post in here saying "I dunno, I made money out of Bitcoin" like that's some kind of gotcha. It's literally saying "sure it was a scam that made some people money, but I was one of them , so it's great!" it always happens in NFT topics.
"The US is not a single country. It is ~20 developed countries being held hostage by ~25 developing countries and ~5 failed states." -Calintares
Rharyx211
10/21/2023
09:22 AM
#11
Good.
Watch "Final Fantasy XV Abridged" and "Kingdom Hearts Abridged" right here!
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GeraldDarko
10/21/2023
09:26 AM
#12
Rika_Furude posted...
you have to be a special kind of stupid to fall for that shit

its easy to say in hindsight it was a scam. but it was also easy to say it was a scam at the start and through the middle as well
People saw it on the nightly news, 24-hour news networks, those investments shows... A lot of people don't need to know anything other than to see other people doing something.
Carpe petat
FolkenRawr
10/21/2023
09:28 AM
#13
Hold up. You mean to tell me those extremely bizarre copy paste Trump cards aren't worth millions?!
Cookin like a chef, I'm a 5 Star Michelin
Ajiri
10/21/2023
09:31 AM
#14
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well
WIRED
https://www.youtube.com/user/wired
Umbreon
10/21/2023
09:32 AM
#15
Ajiri posted...
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well


People profit off pyramid schemes. Doesn't mean it isn't a scam.
Black Lives Matter. ~ DYL ~ (On mobile)
Gobstoppers12
10/21/2023
09:34 AM
#16
Ajiri posted...
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well
Hahaha
(He/Him)
I write Naruto Fanfiction. But I am definitely not a furry.
R_Jackal
10/21/2023
09:35 AM
#17
A fool and their money are soon parted. These days it doesn't mean much though since if you're in the bracket to lost millions or billions you'll be there before and after anyway.
AceMos
10/21/2023
09:41 AM
#18
plenty of us tried to warn every one but we sadly got ignored
3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.*does her janpuu dance*
willythemailboy
10/21/2023
09:57 AM
#19
Remember when a tulip bulb could be worth more than your house? The Dutch remember.
There are four lights.
Ajiri
10/21/2023
10:09 AM
#20
Gobstoppers12 posted...
Hahaha

WIRED
https://www.youtube.com/user/wired
FolkenRawr
10/21/2023
01:29 PM
#21
Ajiri posted...
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well

Now this certainly is a take
Cookin like a chef, I'm a 5 Star Michelin
Gobstoppers12
10/21/2023
01:32 PM
#22
Ajiri posted...
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well
Look, normally I'd just laugh and shrug this off, but... do you believe that Sam Bankman-Fried is a scammer?
(He/Him)
I write Naruto Fanfiction. But I am definitely not a furry.
#23
Post #23 was unavailable or deleted.
Gobstoppers12
10/21/2023
01:34 PM
#24
ImAMarvel posted...
Remember when SMAL actually fell for NFTs? lmao
Up until the day we raised the karma threshold on the blacklist he would show up and start bragging about his collection on every single new account he ever made.
(He/Him)
I write Naruto Fanfiction. But I am definitely not a furry.
#25
Post #25 was unavailable or deleted.
Humble_Novice
10/21/2023
01:36 PM
#26
And so many MAGA chuds are obsessed with NFTs and cryptos... Why is that?
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RchHomieQuanChi
10/21/2023
01:36 PM
#27
Ajiri posted...
and how many people have made thousands and millions from selling their artwork? your definition of scam is kind of crazy as well

Difference between an actual real and tangible art piece versus some shitty jpeg from the internet that anybody could download
I have nothing else to say
GuerrillaSoldier
10/21/2023
01:37 PM
#28
something's only worth what someone is willing to pay for it. that was the essence of the NFT boom. to prove that simple fact. and it worked, and it's still working.

they're still worth what people are willing to pay for it, which is nothing.

Disclaimer: There's a good chance the above post could be sarcasm.
Die-hard Oakland A's fan --- Keep the A's in Oakland!
variasuite
10/21/2023
01:37 PM
#29
Something something, , ignore FUD, .
https://www.youtube.com/watch?v=ycE7bUq3-2k
https://www.youtube.com/watch?v=b1kbLwvqugk
#30
Post #30 was unavailable or deleted.
David1988
10/21/2023
01:39 PM
#31
Billions of dollars lost, but also billions of dollars won by some, its a zero sum game
"The age of men is over, the time of women have come" - God
Tyranthraxus
10/21/2023
01:40 PM
#32
https://www.youtube.com/watch?v=cuf6b5kkfSg
It says right here in Matthew 16:4 "Jesus doth not need a giant Mecha."
https://i.imgur.com/dQgC4kv.jpg
Inohira
10/21/2023
01:41 PM
#33
Monthly reminder that some guy bought a Twitter NFT for $2.9 million, but now can't find anyone to sell it to for more than $6,800.
1 line break(s), 121 characters allowed
archizzy
10/21/2023
01:42 PM
#34
Not that I fall for scams anyway but Im getting to the point where Im so old I couldnt even wrap my head around the concept of NFTs. It was just beyond me and I didnt get it. Im almost 50 and from the very start I was just like yeah thats stupid
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RchHomieQuanChi
10/21/2023
01:42 PM
#35
ImAMarvel posted...
They're stupid and/or trying to scam someone.

From my experience, they're always people who think they're dismantling the financial/banking system....

...by playing right into the hands of rich assholes
I have nothing else to say
superbot400
10/21/2023
01:43 PM
#36
Silicon Valley scammed people by overselling. It sad that people fall for it. They could have put that money in a index fund or 401k.
http://spinsulin.freeforums.org/the-fantastic-four-respect-thread-t4436.html, my huge ass respect thread. You won't see it.
Rharyx211
10/21/2023
01:44 PM
#37
Humble_Novice posted...
And so many MAGA chuds are obsessed with NFTs and cryptos... Why is that?
they're the most easily duped people who also think they're the smartest people
Watch "Final Fantasy XV Abridged" and "Kingdom Hearts Abridged" right here!
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majin_nemesis
10/21/2023
01:55 PM
#38
i feel sorry for them but at the same time i feel like laughing at them
#39
Post #39 was unavailable or deleted.
AceMos
10/21/2023
04:34 PM
#40
NFTs do show one thing that libertarian ideals do not work
3 things 1. i am female 2. i havea msucle probelm its hard for me to typ well 3.*does her janpuu dance*
Hayame_Zero
10/21/2023
04:40 PM
#41
I find it funny that NFTs crashed right before the tech of AI images took off. They were cheap procedurally generated JPGs, and now that same technology has advanced significantly, but even though those can still be monetized in some way, the actual NFT market is dead.
...I think I'm done here...
ScazarMeltex
10/21/2023
04:41 PM
#42
Gobstoppers12 posted...
Whether they were rug pulls or malicious trades between users, NFTs cost people billions of dollars in a very short time.

In hindsight, it seemed really ridiculous that someone would pay hundreds of thousands of dollars for a receipt saying they owned a low effort picture of a monkey.

It also seemed ridiculous at the time, too. No hindsight required.

What a weird time in our history that was.
Yeah, I never got it. Anyone with a brain was like "this is fucking dumb" and all the tech-pilled weirdos just bought in completely.
Furthermore, The GOP is a Fascist Organization and must be destroyed
Notti
10/24/2023
07:29 AM
#43
So many crypto guys gut flushed so hard with nfts, I rarely here any more of their spam in certain channels I visit. It's like someone stomped them all at the same time.
http://m.youtube.com/TheYoungTurks/videos Bernie>Biden>poo>Trump http://RightWingWatch.org http://reddit.com/r/BreadTube http://fb.me/OccupyDemocrats
rexcrk
10/24/2023
07:31 AM
#44
You mean the nonsense meme currency turned out to be a scam??

Shocker!
Ray has gone bye bye, Egon
Priere
10/24/2023
07:32 AM
#45
https://gamefaqs.gamespot.com/a/user_image/0/1/4/AAFOjXAADM1m.jpg
https://imgur.com/iQep35u https://i.imgur.com/PmX8smn.gif
https://i.imgur.com/mwTy0iF.gif https://i.imgur.com/FCER80e.gif
Current Events » People lost billions of dollars due to NFT scams