The Metaverse is Here

[Rygu]

Yea - I'd much rather explore and exploit this universe. Was disappointed as a kid when I realized we would never reach Star Trekish levels in my lifetime.

Though I guess we have pending Warp!

True. If we ever get a holodeck in my lifetime, I'm totally down for that though.

"Hi, ummm I'd like to order the XXX ScarJo package please"

 

[Smokes]

I dont even understand what they bought. I'm confused.

This might help

 

[WaylonMercy5150]

This might help

 

[TeTe]

There are still a bunch of rich wealthy people propping up crypto currency though. And a bunch of dummies still believing it’s anything but a pyramid scheme that has the added benefit of helping rich people avoid taxes.

Rich people gonna rich people... But the fact that one of the greatest wealth transfers has occurred as a result of crypto, NFTs, meta, etc. Is hugely important.

I'm not going to try convince someone who doesn't understand Blockchain that it goes beyond some pyramid scheme. But the fact of matter is there are people who were average Joes... Including teenagers, that sold NFTs that drive lambos and can buy houses because of it.... Regardless of what rich people do.

If you really want to see institutions keep people down, look no further than these "wealth managers" who charge people a fortune to make them money in stock market... And for what? Five to ten percent gains at best per year? That's why so many of these bankers hate crypto... They can't control the money that people are making off of it.

 

[GSP_37]

There is no underlying profitable business. No sales of goods or services. The value keeps going up because they are successful in finding the bigger fool to dump it on. These days, there are tons of fools. These fools will later complain the government didn't regulate this shit and protect them from their own foolishness.

 

[TeTe]

There is no underlying profitable business. No sales of goods or services. The value keeps going up because they are successful in finding the bigger fool to dump it on. These days, there are tons of fools. These fools will later complain the government didn't regulate this shit and protect them from their own foolishness.

People are free to waste their money on whatever they choose. People have always bought expensive art, baseball cards, etc. Don't need big brother to save people who have more money than they know what to do with. This has been the story since money was invented.

 

[Rygu]

Exactly. How is the metaverse any different than Second Life? And didn’t a bunch of dummies blow a shitload of real money in that too?

Idk if NFTs will be around much longer though. The cover has pretty much been blown on that. There are still a bunch of rich wealthy people propping up crypto currency though. And a bunch of dummies still believing it’s anything but a pyramid scheme that has the added benefit of helping rich people avoid taxes.

Depends on the sector you're referring to.

Blockchain technology is here to stay. Having said that, there's a LOT of them. How successful their crypto will be depends on who is involved, who is partnered, and probably more than anything else, media/hype. Ethereum is king and will be the defacto financial layer of possibly even the stock market eventually. Yes, some are clear cut ponzis/pyramid scams. Most of those are considered shitcoins and nobody really holds those too long, more just to pump and dump. The newbs will get in late, get dumped on and will be stuck holding heavy bags until they dump for a probable loss.

As for NFTs, not a fan. The smart ones got in, and out and won't let themselves be stuck holding them when the bubble bursts. They knew what to buy, and where to sell, and a whole lot of money has been made. There's been a bit of a misconception though about some of the super expensive ones, the vast majority of them are simply laundering money the same way you would with art. Nobody spent $100k on a picture of an ape and thought "That's worth at least 100k maybe more". It's tax free money. Pretty genius tbh because it works like a charm.

As for the metaverse? Well that's hard to say. I think it's it's gay as fuck. But who knows. So many kids are severe introverts, and this would probably be something they would enjoy, no matter how awful it would be for their social development.

 

[StonedLemur]

This universe is enough for me…

Always will be sir.

 

[GSP_37]

People are free to waste their money on whatever they choose. People have always bought expensive art, baseball cards, etc. Don't need big brother to save people who have more money than they know what to do with. This has been the story since money was invented.

Which is it? Incredible investment that outperforms wealth manager results or wasting money?

Lots of poor people will be royally fucked over by this, not just the filthy rich who can afford to lose several hundred thousand.

Are Beanie Babies worth anything these days? While office worker men and women were buying that, I'd use my break to go buy minor league baseball card packs from a Vietnamese guy's shop nearby. I did get some autograph chase cards, but none from anyone who ended up making a big time MLB career.

 

[Rygu]

Which is it? Incredible investment that outperforms wealth manager results or wasting money?

Lots of poor people will be royally fucked over by this, not just the filthy rich who can afford to lose several hundred thousand.

Are Beanie Babies worth anything these days? While office worker men and women were buying that, I'd use my break to go buy minor league baseball card packs from a Vietnamese guy's shop nearby. I did get some autograph chase cards, but none from anyone who ended up making a big time MLB career.

Ahhhh but a lot of people who didn't have a lot of money, left with a lot of money. You do your homework, invest in the right projects, preferably early and there is/was a lot of money to be made no matter your financial status.

 

[GSP_37]

Ahhhh but a lot of people who didn't have a lot of money, left with a lot of money. You do your homework, invest in the right projects, preferably early and there is/was a lot of money to be made no matter your financial status.

Short term luck.

You know many will suicide themselves when the bubble bursts.

 

[Rygu]

Short term luck.

You know many will suicide themselves when the bubble bursts.

Well when will that happen? It's been around for a decade now. You'd think when Bitcoin hit $20k a few years ago it would have been a "bubble" and would have burst. You'd think major players like JP Morgan, Goldman Sachs and Greystone wouldn't touch it if they thought that was even a possibility. Those people don't fuck around, they do their homework and rarely make mistakes.

 

[GSP_37]

Well when will that happen? It's been around for a decade now. You'd think when Bitcoin hit $20k a few years ago it would have been a "bubble" and would have burst. You'd think major players like JP Morgan, Goldman Sachs and Greystone wouldn't touch it if they thought that was even a possibility. Those people don't fuck around, they do their homework and rarely make mistakes.

I don't have as much confidence in people. When they do make mistakes, it's huge shit.

https://thehill.com/policy/finance/576380-dimon-i-personally-think-that-bitcoin-is-worthless

 

[Rygu]

I don't have as much confidence in people. When they do make mistakes, it's huge shit.

I've made some mistakes. You learn from them. Yeah some people have been wrecked, and if they put in more than they could afford to lose they learned a valuable lesson.

 

[TeTe]

Which is it? Incredible investment that outperforms wealth manager results or wasting money?

Some people like buying expensive shit for whatever reason... but hey let's get the government involved. Last I checked the majority of the people making the majority of money in the metaverse and on NFTs are the tech savvy young non rich people selling to the well off. You really broken up over Snoop Dogg or someone famous making some 18 year old that's smart enough to make NFTs and capitalize on something while it's hot?

 

[GSP_37]

Some people like buying expensive shit for whatever reason... but hey let's get the government involved. Last I checked the majority of the people making the majority of money in the metaverse and on NFTs are the tech savvy young non rich people selling to the well off. You really broken up over Snoop Dogg or someone famous making some 18 year old that's smart enough to make NFTs and capitalize on something while it's hot?

I don't have a dog in this fight. I don't do this shit. I definitely wouldn't advocate for others to.

 

[BB in Crazy!!!!]

Our Universe is already a simulation. So the different Metaverses are just another level deeper, like Leonardo DiCaprio’s dreams.

 

[TeTe]

I don't have a dog in this fight. I don't do this shit. I definitely wouldn't advocate for others to.

And that's fine. To answer your question a little more concisely, I personally think spending an absurd amount of money on NFTs and meta projects are a waste... And part of it is because of what you said... It'll probably be worthless in a couple years. But again, this is nothing new when it come to buying anything collectable.

Or who knows maybe this is the future like some Demolition Man shit and itll just keep going.

But again, I don't have a problem with the little guy making money off of a fad. Just like I have no problem with reddit colluding to fuck over hedge fund managers to get rich off of meme stocks.

 

[SKYNET]

low key looking like a site for harvesting and grooming young children

 

[BB in Crazy!!!!]

That will all be worth absolutely nothing in a few years.

The money they spend on it that goes in the bank accounts will still be worth something.
Look how much people spend on DLC and video game skins. Lots of money to be made off people willing to spend it. I don’t use that stuff typically, but I certainly am willing to buy and sell if I can make a huge profit.