'Jack Dorsey's First Tweet' NFT Listed For $48 Million, Ends With Best Offer of $280 (coindesk.com) 56
An anonymous reader quotes a report from CoinDesk: A non-fungible token (NFT) of Twitter founder Jack Dorsey's first ever tweet could sell for just under $280. The current owner of the NFT listed it for $48 million last week. Iranian-born crypto entrepreneur Sina Estavi purchased the NFT for $2.9 million in March 2021. Last Thursday, he announced on Twitter that he wished to sell the NFT, and pledged 50% of its proceeds (which he thought would exceed $25 million) to charity. The auction closed Wednesday, with just seven total offers ranging from 0.09 ETH ($277 at current prices) to 0.0019 ETH (almost $6). "The deadline I set was over, but if I get a good offer, I might accept it, I might never sell it," Estavi told CoinDesk via a WhatsApp message on Wednesday. Estavi has two days to accept the bid, or it will expire.
I'm loving it, and I rarely eat at McDonald's (Score:5, Insightful)
That appears to be a 99.9999% discount. But I still think he paid too much for it.
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Who knew???
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Eating at Mc Donalds would be illegal in Germany ?
Re:I'm loving it, and I rarely eat at McDonald's (Score:4, Funny)
crypto entrepreneur Sina Estavi purchased the NFT for $2.9 million in March 2021
Wow. Such business. Much entrepreneur.
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It probably worked out for him, though.
He was able to briefly con people into thinking that NFT's were actually worth something for a brief moment in time, and probably sold a lot more of them because of that.
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The new Beanie Babies.
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be better [twitter.com]
Is this reality? (Score:5, Insightful)
Did this man really believe he was about to turn a 10x profit in one year from "owning a tweet"? If he was looking to say sell it for 5 or 6 million i'd stillthink it was silly but that's kinda still grounded in reality and a good return.
Starting to really sound like "affluenza" is going to legit make it into the DSM-VI. Absolute brain rot.
Re:Is this reality? (Score:5, Insightful)
Re:Is this reality? (Score:4)
I don't know man. If you happen to know a lot of people with low IQ it might be pretty profitable to grab up with worthless garbage and flip it onto someone stupid.
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Just donate. Being generous, by buying an NFT you're just making a donation but paying a bunch of fees to do it. Being cynical, you're purchasing public virtue points that you hope to later sell for a profit.
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Just donate.
People are more likely to donate when they believe there is a personal benefit. I do donate to an extent, but I am like most people.
Again, I have no intent to purchase an NFT. I am just honest to myself and admit the right circumstances could change my mind. I also acknowledge different people ascribe worth differently. I can see an instance where I might buy one, and thus I don't agree with disparaging others for wanting to. I will, however, agree that people buying them as an investment are likely going
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Wrong tweeter (Score:1)
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Did this man really believe he was about to turn a 10x profit in one year from "owning a tweet"?
NFTs are just things pedos trade amongst eachother while trafficking.
$ for nothing and your X for free (Score:5, Insightful)
>"A non-fungible token (NFT) of Twitter founder Jack Dorsey's first ever tweet could sell for just under $280."
I just laugh at all these people. NFT has to be one of the biggest scams I have ever seen. None of this non-stuff is worth anything. Hey, it's your money, spend a billion on it or $1. But don't come whining to anyone later.
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But don't come whining to anyone later.
No doubt he'll get some sort of tax 'deduction' (read: scam taxpayers out of real money) on the "losses" of his "investment".
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But don't come whining to anyone later.
No doubt he'll get some sort of tax 'deduction' (read: scam taxpayers out of real money) on the "losses" of his "investment".
Tax deductions on capital losses clearly don't work the way you seem to imagine them.
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Tax deductions on capital losses clearly don't work the way you seem to imagine them.
Well given something he paid $2.9 million for just was valued at $280 it doesn't take much accounting magic to write down the value of the "asset".
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Tax deductions on capital losses clearly don't work the way you seem to imagine them.
I'm not talking about how I know they work - rather the "inventive ways" he/his "accountants" will figure out how to get some money out of it.
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I never really understood it, what NFT are but when they did one for wikileaks/julian assange to raise 50 million It made perfect sense as a means of donation to support a cause.
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I never really understood it, what NFT are
They're a scheme to pump Ethereum. The idea is that if people believe there's an NFT "gold rush", they'll buy Ethereum and use it to mint NFTs. This benefits Ethereum investors, because unlike trying to recruit more people directly into the ponzi scheme, any money dumped into minting NFTs is permanently removed from circulation (the Ethereum developers refer to it as "burning"). Minting NFTs is a one-way process. Contrast this against Bitcoin (and most other altcoins), where anyone new who "invests" in
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It would be interesting to survey NFT links and see what proportion still link to something.
Also interesting to calculate the total sale price of the ones that don't.
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And what proportion still link to the same thing as when the NFT was minted..
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Crypto is no different to any other currency in so much as it has an intrinsic worth if people give it such. FIAT currencies are no more than pieces of paper (or entries on a spreadsheet) and are just as "made up" as crypto is - the difference being is it's more widely accepted. All currency has an imaginary "worth" based on it's relation to something physical e.g. gold. and this changes over time and even established currencies change in value over time (i.e. 1 dollar today is worth a lot less today than i
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> I never really understood it, what NFT are
A NFT is a position in a queue. The "value" is you hope that you can sell it to another sucker ^H^H^H buyer.
A NFT may have unique art associated with your position but you have ZERO rights to the art. You are buying/selling your position in the queue.
* Line Goes Up - The Problem With NFTs [youtube.com]
* Josh Strife Hayes - What the hell are NFT's? [youtube.com]
Hence the memes No Fucking Thanks, or Nothing For Trade, Nitwits Financial Trading, etc.
--
When did Blender Guru become a NFT shil
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I just don't understand why anyone would pay anything for a NFT. Looks like just a bunch of scammers looking for a greater fool.
In this day and age, digital assets are worth nothing. They can be freely exchanged and stored so why would they have any value?
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An NFT is just a cover for the exchange of money and/or services. If someone were to transfer millions of dollars to someone else, there would be questions and consequences. Now they can just say "It's for an NFT!", and the questions stop (when they really shouldn't).
Re: $ for nothing and your X for free (Score:3)
Exactly.. 280 for what could be had for free with a screenshot.
I'd buy that for a dollar! (Score:3)
Eh, no, never mind, that's still a dollar too much.
Although I could trade his NFT for 48 million of my very own EcuadorCoins. Freshly minted using a very imaginative process.
I've got something better I can sell this guy (Score:4, Funny)
Iranian-born crypto entrepreneur Sina Estavi purchased the NFT for $2.9 million in March 2021
He over paid.
I have something even better - eNFT: the "ephemeral NFT"
It's produced by the process of just me thinking it up, so it's every ecologically friendly; it's also why it's much cheaper than normal NFT: only $500,000!
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what's the sound? (Score:4, Insightful)
Strange thing about NFTs... (Score:3)
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Same thing happens with real "art" too. Some rich dude spends a ton of money on something stupid as a tax write-off or because an illegitimate business needed to launder their income (oh look, a bronze sculpture of dog shit that includes a few "free" kilos of cocaine, what a deal!). Then when said rich dude tries to resell the art in a legitimate marketplace, it doesn't fetch nearly as much money.
Also, the value of art is very subjective and like they say on that pawn shop show, it might be a very long ti
Re:Strange thing about NFTs... (Score:5, Funny)
sox puppet (Score:2)
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Should have listed it with Wata Games.
Winning investment (Score:2)
"I might never sell it" Great idea! The investment isn't a loss until you sell it for a loss. He's totally winning.
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Well, that is 2.8 million tax deduction just waiting to happen.
At last... (Score:2)
... NFTs are nearing their actual value.
It's Almost As If... (Score:2)
It's almost as if that sale last year for 2.9 million dollars last year was a pay-off, or a money laundering transaction, and not a considered purchase at fair market value.
Don't forget the gas! (Score:1)
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I somehow miss the days of good old vapourware, which was more environmentally friendly than contemporary gasware.
Or what will expire? (Score:2)
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Oh. Oh no. Expiring NFTs.
This would make an already environmentally devastating system even worse. Turns the whole hot-potato NFT sell-it-before-it-loses-all-value thing even more explosive and volatile.
I am sure cryptobros would fucking love it.
And it's worth... (Score:1)
Nothing at all.
I'll think of something witty (Score:2)
NFTs are completely potty (Score:2)
I am not particularly keen on the fine art market anyway, but NFTs seem to represent the worst aspects of fine art "investment". All the exclusive money value, but very little cultural value. I suppose some works of art are so culturally important as to be beyond price, like the works of Leonard da Vinci or Pablo Picasso, for example.
To me, the value of true original works is that they represent history and heritage, which are far more valuable than mere money. A fake Picasso is not history, even if it is p