The Bored Ape NFT Justin Bieber bought for $1.2 million is now worth $69,000

trgz

Posts: 416   +194
It couldn't have happened to a more worthless person; oh wait, has Ed Sheeran bought any? :D
 

godrilla

Posts: 583   +315
On top of that endless ai generated nfts is a thing now. People were spending money on endless supply commodity hoping someone would buy it at a higher price. If it smells like ponzi scheme then it's a pansy scheme. Imagine a world where no one accepts crypto currencies for goods and services you create useless digital art to convince the naive its worth something. Facepalm power to infinity!
 

captaincranky

Posts: 19,163   +8,308
It couldn't have happened to a more worthless person; oh wait, has Ed Sheeran bought any? :D
At least, (with extensive digital processing), Beiber can almost sing. (Not that I find it anywhere near listenable).As for Ed Sheeran,
well you need to wear lace panties, and have your head pumped down to an almost complete vacuum to access his, "music".

If you're really scrounging around fame's dumpster, you'll likely find "Ye", and the entire Kardashian family.
 

NightAntilli

Posts: 927   +1,186
We're definitely close to the bottom considering all the negative comments on here.

In any case... If you think the Bored Ape NFT is about the picture of the Ape, you have no idea what is going on.
 

Puiu

Posts: 5,881   +4,888
TechSpot Elite
We're definitely close to the bottom considering all the negative comments on here.

In any case... If you think the Bored Ape NFT is about the picture of the Ape, you have no idea what is going on.
We all know what is going on. We just think that everything related to Bored Apes NTFs are equality stupid and have no value.
 

godrilla

Posts: 583   +315
We're definitely close to the bottom considering all the negative comments on here.

In any case... If you think the Bored Ape NFT is about the picture of the Ape, you have no idea what is going on.
Today we have people that don't no much about art, blockchain, and finance but are somehow experts on NFTs. Rule of thumb al long as you know slightly more than Just Bieber we are in good shape! Questions?
 

jason lee

Posts: 42   +32
On top of that endless ai generated nfts is a thing now. People were spending money on endless supply commodity hoping someone would buy it at a higher price. If it smells like ponzi scheme then it's a pansy scheme. Imagine a world where no one accepts crypto currencies for goods and services you create useless digital art to convince the naive its worth something. Facepalm power to infinity!
That's not a ponzi scheme. It's the Greater Fool concept. A ponzi is different.
 

godrilla

Posts: 583   +315
That's not a ponzi scheme. It's the Greater Fool concept. A ponzi is different.
"The Greater Fool Theory is the idea that, during a market bubble, one can make money by buying overvalued assets and selling them for a profit later, because it will always be possible to find someone who is willing to pay a higher price." Makes sense.
 

captaincranky

Posts: 19,163   +8,308
"The Greater Fool Theory is the idea that, during a market bubble, one can make money by buying overvalued assets and selling them for a profit later, because it will always be possible to find someone who is willing to pay a higher price." Makes sense.
Then Justin Beiber better put his head down and search long and hard for, "a greater fool", as they seem to be in very short suppl;y ATM. One might consider it as bad as being a "dearth".(of greater fools).

He's probably kicking himself in the a**, wondering why he didn't spent that money on cocaine..:rolleyes:
 
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godrilla

Posts: 583   +315
Then Justin Beiber better put his head down and search long and hard for, "a greater fool", as they seem to be in very short suppl;y ATM. One might consider it as bad as being a "dearth".(of greater fools.

He's probably kicking himself in the a**, wondering why he hadn't spent that money on cocaine..
Speaking of stimulants it seems the greatest fool is catching a celebrity at the most euphoric state and sell them some NFTs rinse repeat hopefully the sheep will follow!
The manic phase is over now reality hits with the downers 😳.
 

captaincranky

Posts: 19,163   +8,308
The manic phase is over now reality hits with the downers 😳.
Did you know that in addition to being a (mediocre) pain killer, the synthetic opiate Tramadol, is also listed as having anti-depressant qualities?

 
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NightAntilli

Posts: 927   +1,186
no
to know =/= to think

I know english is hard, but let's not make this about contradictions. :)

since you like to make "smart" counter-arguments, tell me something of value that was made because Bored Apes are NFTs.
You think you know, but you don't. What you sound like is someone saying that they know what water is, and then explain how you think that pouring water on things makes them more dry rather than wet.

Are you asking if something of value was made, or if something was made that you personally find valuable? Because if it's the latter, nothing I say will be sufficient anyway.
And if you were truly paying attention, you wouldn't have asked that question. You would have known that they managed to raise a million dollars through BAYC that was donated to animal shelters, for example. Remember that, the next that you say that nothing of value was created.

But BAYC is basically an art community that is exclusively accessible to those that own one of the Bored Ape NFTs. And because of the limited seats, it makes access valuable and therefore the NFTs valuable. And since they hold real-life events like exhibitions and contests, some people want in and are willing to pay for it. If the value dries up, maybe so does the price... Or maybe it doesn't, due to its reputation and history. After all, art is a weird part of humanity.

I understand if it's not your thing. It isn't mine either. That doesn't mean it's not valuable. There's a lot of paintings out there that I wouldn't pay a dime for that sell for millions of dollars. To each their own. NFTs are still a technology, and a great technology at that. It shouldn't be dismissed because of the people that misuse it. You don't say that e-mail is a scam because phishing and spam exist.
 

godrilla

Posts: 583   +315
You think you know, but you don't. What you sound like is someone saying that they know what water is, and then explain how you think that pouring water on things makes them more dry rather than wet.

Are you asking if something of value was made, or if something was made that you personally find valuable? Because if it's the latter, nothing I say will be sufficient anyway.
And if you were truly paying attention, you wouldn't have asked that question. You would have known that they managed to raise a million dollars through BAYC that was donated to animal shelters, for example. Remember that, the next that you say that nothing of value was created.

But BAYC is basically an art community that is exclusively accessible to those that own one of the Bored Ape NFTs. And because of the limited seats, it makes access valuable and therefore the NFTs valuable. And since they hold real-life events like exhibitions and contests, some people want in and are willing to pay for it. If the value dries up, maybe so does the price... Or maybe it doesn't, due to its reputation and history. After all, art is a weird part of humanity.

I understand if it's not your thing. It isn't mine either. That doesn't mean it's not valuable. There's a lot of paintings out there that I wouldn't pay a dime for that sell for millions of dollars. To each their own. NFTs are still a technology, and a great technology at that. It shouldn't be dismissed because of the people that misuse it. You don't say that e-mail is a scam because phishing and spam exist.
Doesn't something of value have to limited in scope? How many Bored Ape NFts are there besides all the endless other NFTs are there? Before NFTs physical art was limited in scope like the Monalisa which only one exists hence it's infamous value. If there was a different Monalisa for every Bored ape nft do you think its value would hold? Hmmm?
Look outside on the streets everyone is an artist today 😂.
 

Feng Lengshun

Posts: 23   +12
Someone was watching Bieber's NFT price falls for so long, all so that they could make the Nice headlines. They could have done it when 1.2mil falls to 690k, but that isn't impressive. They could have done it on literally any other numbers, like when it dips below six digits for the first time.

No, they're waiting exactly for this moment, the soonest that they can have a Nice and eyecatching headline.

Hats off to that guy.
 

captaincranky

Posts: 19,163   +8,308
Someone was watching Bieber's NFT price falls for so long, all so that they could make the Nice headlines. They could have done it when 1.2mil falls to 690k, but that isn't impressive. They could have done it on literally any other numbers, like when it dips below six digits for the first time.

No, they're waiting exactly for this moment, the soonest that they can have a Nice and eyecatching headline.

Hats off to that guy.
Yeah, "click bait" strikes again. We're more than grateful to you for pointing that out to us. Is this the "grateful" emoji? :poop:

Still, dropping from 1.2 million to 69 thousand is way funnier. As cruel as it may sound, I'm ever so glad they waited..(y) (Y)
 

Puiu

Posts: 5,881   +4,888
TechSpot Elite
You think you know, but you don't. What you sound like is someone saying that they know what water is, and then explain how you think that pouring water on things makes them more dry rather than wet.

Are you asking if something of value was made, or if something was made that you personally find valuable? Because if it's the latter, nothing I say will be sufficient anyway.
And if you were truly paying attention, you wouldn't have asked that question. You would have known that they managed to raise a million dollars through BAYC that was donated to animal shelters, for example. Remember that, the next that you say that nothing of value was created.

But BAYC is basically an art community that is exclusively accessible to those that own one of the Bored Ape NFTs. And because of the limited seats, it makes access valuable and therefore the NFTs valuable. And since they hold real-life events like exhibitions and contests, some people want in and are willing to pay for it. If the value dries up, maybe so does the price... Or maybe it doesn't, due to its reputation and history. After all, art is a weird part of humanity.

I understand if it's not your thing. It isn't mine either. That doesn't mean it's not valuable. There's a lot of paintings out there that I wouldn't pay a dime for that sell for millions of dollars. To each their own. NFTs are still a technology, and a great technology at that. It shouldn't be dismissed because of the people that misuse it. You don't say that e-mail is a scam because phishing and spam exist.
It's not valuable. It's a cash grab that fools paid for because "celebs" bought them (written as "bought", read as "received"). This is a fact, not an opinion.

All of the "benefits" you mentioned have nothing to do with NFTs. A community can be made in many ways.
 

godrilla

Posts: 583   +315
Yeah, "click bait" strikes again. We're more than grateful to you for pointing that out to us. Is this the "grateful" emoji? :poop:

Still, dropping from 1.2 million to 69 thousand is way funnier. As cruel as it may sound, I'm ever so glad they waited..(y) (Y)
Still beats the headlines from a few months ago saying make millions on NFTs pure marketing BS!
 

captaincranky

Posts: 19,163   +8,308
Still beats the headlines from a few months ago saying make millions on NFTs pure marketing BS!
And I completely agree with you. Perhaps my post wasn't sarcastic enough. but why push it?

However, I think your point would be better served quoting this guy Feng Lengshun, who was promoting, (tacitly, perhaps surreptitiously), that the article was, "click bait".

But who who knows? He did end with, "Hats off to that guy" :confused:.
 

NightAntilli

Posts: 927   +1,186
Doesn't something of value have to limited in scope? How many Bored Ape NFts are there besides all the endless other NFTs are there? Before NFTs physical art was limited in scope like the Monalisa which only one exists hence it's infamous value. If there was a different Monalisa for every Bored ape nft do you think its value would hold? Hmmm?
Look outside on the streets everyone is an artist today 😂.
There are 10k Bored Ape NFTs. Might seem like a lot, but they are all unique, derived from a limit amount of assets (somewhere around 270 if I recall correctly).

If there was a different Mona Lisa for every Bored Ape, do I think its value would hold...? Well, if it was purely about the art, and it would be valued the same, the full collection would be the same value as the current single Mona Lisa, with each single entry having a variance of some being more valuable than average and some less valuable than average.

It's not valuable. It's a cash grab that fools paid for because "celebs" bought them (written as "bought", read as "received"). This is a fact, not an opinion.

All of the "benefits" you mentioned have nothing to do with NFTs. A community can be made in many ways.
A community can indeed be made in many ways, but it cannot easily be made exclusive with a specific amount of members and with a timeless unique pass that cannot be faked, and with other possibilities that have not yet even been figured out.

You're stuck in the old way of thinking. That is your limitation. It's the same mail vs e-mail argument in a different coat of paint. So let me put it this way.
Sure, you can send a message through mail, but can it be received within 5 seconds? The answer is no. At best it will take one day instead of 5 seconds. And you have seen how significant that one small difference ultimately became and how it has influenced society.

NFTs are no different. Sure. You can create a club of 10k exclusive members. But can the members change immediately and freely for a price obvious to anyone at any time? Can they be anonymous? Can it be guaranteed that it never exceeds 10k? Can it be guaranteed that there are no imposters with fake member cards? Can it be guaranteed that only those members receive the benefits and not someone else that lives in the same place or borrows the card from someone else? And so on and so on.

It might all sound insignificant, but ultimately, they all are very significant, just like the 5 second vs 1 day difference was significant and people didn't see it at the time.
 

godrilla

Posts: 583   +315
There are 10k Bored Ape NFTs. Might seem like a lot, but they are all unique, derived from a limit amount of assets (somewhere around 270 if I recall correctly).

If there was a different Mona Lisa for every Bored Ape, do I think its value would hold...? Well, if it was purely about the art, and it would be valued the same, the full collection would be the same value as the current single Mona Lisa, with each single entry having a variance of some being more valuable than average and some less valuable than average.


A community can indeed be made in many ways, but it cannot easily be made exclusive with a specific amount of members and with a timeless unique pass that cannot be faked, and with other possibilities that have not yet even been figured out.

You're stuck in the old way of thinking. That is your limitation. It's the same mail vs e-mail argument in a different coat of paint. So let me put it this way.
Sure, you can send a message through mail, but can it be received within 5 seconds? The answer is no. At best it will take one day instead of 5 seconds. And you have seen how significant that one small difference ultimately became and how it has influenced society.

NFTs are no different. Sure. You can create a club of 10k exclusive members. But can the members change immediately and freely for a price obvious to anyone at any time? Can they be anonymous? Can it be guaranteed that it never exceeds 10k? Can it be guaranteed that there are no imposters with fake member cards? Can it be guaranteed that only those members receive the benefits and not someone else that lives in the same place or borrows the card from someone else? And so on and so on.

It might all sound insignificant, but ultimately, they all are very significant, just like the 5 second vs 1 day difference was significant and people didn't see it at the time.
Communication is different from art though. Art can be seen by many as a luxury while shaving time from communication can benefit everyone having a blockchain form of art aka NFTs only benefits well I can't think of any tangible benefit to society.
 

NightAntilli

Posts: 927   +1,186
Communication is different from art though. Art can be seen by many as a luxury while shaving time from communication can benefit everyone having a blockchain form of art aka NFTs only benefits well I can't think of any tangible benefit to society.
NFTs are not limited to art. Anything that is non-fungible, which is actually most things, can be documented using NFTs. That's things like cars, realties, degrees, passports, drivers licenses, wills, and more. Basically, all documentation services that are tied to specific identities can now be organized without requiring a notary, governmental office or other centralized entity.