Crypto and NFTs aren’t welcome in <em>Grand Theft Auto Online</em>
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I was actually talking with someone earlier about how you really don't hear much about NFTs anymore. I haven't run into someone calling me a loser because I don't believe BTC "is for sure the currency of the future" in well over a year. The entire space seems delightfully less loud these days.
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I think the only serious thing I've heard in the cryptosphere in the last couple months was some ballyhoo about some companies like Capital One piloting a "digital dollar" program which had the usual suspects in a tizzy, but AFAICT it was all a big nothingburger.
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A guaranteed procedurally generated NFT in every single loot box? That kind of of benefit?
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It was bullshit propped up by low-interest loans. Wealthy people were able to take out loans backed by stocks or whatever and invest in all kinds of garbage. Tenuously middle class people had savings they could invest in all kinds of garbage because their mortgage rates were low.
The minute the Fed shut off the free money faucet, the whole thing came crashing down.
In bad economic times, the scams are the first to go.
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We’re going to make our own
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When it turns out one of the largest and most visible crypto exchanges was probably a scam (not withstanding the fact that bitcoins as implemented, and as run, are probably a scam, too) it tends to cool the enthusiasm for them, because people hate being reminded they were ripped off/lost money/were stupid.
<Insert relevant Forest Gump meme here>
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They're certainly continuing the tantrums as of recent Ars story threads, what with the superior technology arguments of "have fun staying poor, you're just jealous haters".
Sunk cost gives people fatal brain scramblies.
I see a lot of self-ascribed cryptocurrency and stock "degens" posting about how ponzis are their only hope against despondency, it's not even funny at this point.
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The bubble came and went. NFT holders are left with their stupid pictures, some of the scammers got away with it, and FTX collapsed and may take the economy with it.
We live in an Onion headline.
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Most, it some old ones come back, like the current ongoing rent to own housing scam, where the contract allows the “renter” to keep the money and the property if the loan isn’t paid in 10 years, and the monthly payments will never cover the price in 10 years.
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It is great that not just gamers are overwhelmingly stating that "Web3" plans for hypermonetization and finapping of all media is toxic.
It is not "news" to the rest of us, but we need more large developers like Rockstar to speak truth to idiocy, and hopefully publishers can follow.
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Did they ever try to explain what their "digital dollar" would offer that current internet banking does not ?
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Guess when the line goes down and (poorly AI-drawn) cartoon monkey and crypto has lost most of it’s value makes them slightly quieter.
Though now that Musk has bought Twitter, seems like half the remaining “users” there are bots pushing Dogecoin “to the MOON!™”
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...but for a game that's all about shooting people and stealing stuff, shouldn't an FTX sim be allowed? 
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...but for a game that's all about shooting people and stealing stuff, shouldn't an FTX sim be allowed?
I don't think there's a lot of shooting people in the crypto space.
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Given how much money is getting lost by, potentially, very desperate, and already proved wildly unstable and extremely insecure young men who staked their very identities in crypto and NTF who are now destitute, made fools of and have nothing to lose...?
Wait...
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Less loud, but more and more stupid as the hodls aggregate ever further.
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That's weird, I thought NFTs and cryptos were pretty much automatically online versions of grand theft.
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Updating "when you're in a hole, stop digging":
When you've hodled yourself into a hole, stop hodling.
When you've hodled yourself into a hole, stop hodling.
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That's a good question. I know the Fed is looking into it and from what I can tell, it seems to mainly be about a better/faster payment network to replace ACH transfers. There's also some discussion around how cash-like to make it, such as do they allow transactions to be reversible or not. Generally, cash transactions aren't reversible but people have gotten used to being able to reverse electronic ones. That could be critical to acceptance because while reversibility definitely comes with a cost, it's kinda hard to fat finger your way to a seriously expensive mistake with cash.
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Captain Trips
Smack-Fu Master, in training
“NFTs are like a box of shit. You never know what you’re gonna get, but you know it will stink.”
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Now if Rockstar would stop spamming my console with ads for GTA Online while I have GTA installed, maybe I'd resume playing GTA V single player.
And to go back a few more years, how about allowing Max Payne 3 to be played single player without a Rockstar Club account, as the steam store page lied to me that it was possible when i bought it?
And to go back a few more years, how about allowing Max Payne 3 to be played single player without a Rockstar Club account, as the steam store page lied to me that it was possible when i bought it?
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Yep. If anyone thinks hardcore cryptobros are sad, they need to look into meme stock bros. Especially the Bed Bath and Beyond Bagholders.
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They did not, but were able to confirm that I just don’t understand crypto, the genius of Bankman or the infinite wonder of blockchain. So at least I understand my failings and know where I need work.
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Grand Theft Auto Online... what do NFTs actually add to the game?
Minecraft: Minecraft already does most of the NFT promises without NFTs. The NFT worlds is weird. NFT worlds does not generate the seed. Mojang does! NFT Worlds is selling Mojang's computer-generated work. How were they able to sell the seeds? Doesn't Mojang own the seeds? This means that you can claim bored apes before they are made
I haven't seen or read any features that NFTs enable that Xbox Live isn't doing, except 1-2 things that don't involve selling something. Most of it has been done by Xbox Live already. There seems to be finding a way to "break the tech oligarchy"... which I have no idea what that means. Just... release on PC and make an open system to import / create characters if you want to do that for video games
Minecraft: Minecraft already does most of the NFT promises without NFTs. The NFT worlds is weird. NFT worlds does not generate the seed. Mojang does! NFT Worlds is selling Mojang's computer-generated work. How were they able to sell the seeds? Doesn't Mojang own the seeds? This means that you can claim bored apes before they are made
I haven't seen or read any features that NFTs enable that Xbox Live isn't doing, except 1-2 things that don't involve selling something. Most of it has been done by Xbox Live already. There seems to be finding a way to "break the tech oligarchy"... which I have no idea what that means. Just... release on PC and make an open system to import / create characters if you want to do that for video games
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It's really simple:
NFTs exist to get you to buy crypto.
The fundamental valuation of the US Dollar rests on the fact the US Government will take them as payment for taxes. They could take other things, but they definitely will take them as payment for US taxes.
Crypto has nothing like that. There is no product or service which people will definitely accept some crypto-currency for. A particular market might exist that exclusively takes crypto, but whatever that market sells could probably be purchased directly with dollars somewhere else.
That is (was) the job of NFTs: to be the thing which people valued and therefore give value to the crypto-currencies you needed to buy them. This means that, if a person wants to buy an NFT, they have to turn their real money into the fake money needed to buy them. And that is/was the goal: to bring more liquidity into the crypto ecosystem.
In order to do this, NFTs had to be able to do things that people wanted. Even if those things could be done without NFTs, the crypto-cult needed NFTs to be able to do something. And then they pushed those things as if NFTs (and the crypto-currencies behind them) were the only solutions to those problems.
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And now you understand the crypto industry's rebranding of forced microtransactions as "Web3".
Every single avatar or game component must be tied to a marketplace in order to sell new fools into the cryptocurrency ecosystem, benefiting Bitcoin with new liquidity as much as Eth and the tokens that underpin NFTs.
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