The Case Against NFTs

I’m preparing to write two new essays about different aspects of cryptocurrency that I haven’t yet covered on this blog, dealing with first the massive incompetence and paranoia that’s baked into the scheme that shows how little its proponents understand about what banking actually is, and secondly, the incompetence and paranoia that many of them possess that demonstrates how little they know about what the money supply is.

In the meantime, I want to link here to this excellent essay explaining the entire NFT project from start to finish, and explaining exactly why you shouldn’t invest in it. I know it’s tl;dr for people who just want to “make money on the computer”, but the scam is complicated enough to require a lot of words to untangle it completely.

I haven’t received any comments on this blog yet, besides the test ones that I wrote. That’s okay. You can argue with me on Twitter if you like, but I’m getting a little bored with the claims and the insults and the ignorance. I’m starting to think that the pro-crypto people can’t write a single paragraph that makes a valid point without everything falling apart upon the slightest examination of their assumptions to point out all the incorrect ones. Google and Bing just started indexing my site, so I hope they start sending people who search for information on these topics here.

As you can see, I have no ads on this blog, and I make no money from it. I have no hidden agenda, and I’m only driven, at least for my posts on this subject, by an anger that so many people are wasting so much time and energy scamming people and wasting the Earth’s resources on a mammoth scale.

I’ll cover that in my next post, about the massive incompetence baked into the scheme, including “consuming the same amount of power as the Three Gorges Dam generates, to process transactions at 1% of the speed of my Raspberry Pi 400″. There are logical reasons why China banned this nonsense, and why we should ban it worldwide. Stay tuned.

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