xQc debates a viewer in discord on whether NFTs are a short-term scam or a good investment for the future. xQc takes the former, his viewer the latter.
Subscribe to my other Youtube channels for even more content!
xQc Reacts: https://bit.ly/3FJk2Il
xQc Gaming: https://bit.ly/3DGwBSF
xQc Clips: https://bit.ly/3p3EFZC
Please subscribe, like and turn on notifications if you enjoyed the video!
Streaming every day on Twitch! https://twitch.tv/xqcow
G-FUEL 'The Juice' ► USE CODE "XQC" FOR 30% OFF - https://gfuel.com/collections/the-juice
Stay Connected with xQc:
►Twitter: https://twitter.com/xqc
►Reddit: https://www.reddit.com/r/xqcow/
►Discord: https://discord.gg/xqcow
►Instagram: https://instagram.com/xqcow1/
►Snapchat: xqcow1
- WATCH MORE -
Among Us: https://www.youtube.com/playlist?list=PLKeR9CeyAc9as68PDcqQUGd7erKulABIU
Daily Dose of Internet: https://www.youtube.com/playlist?list=PLKeR9CeyAc9ZH3cZR0QguDQ7_-2hgVowK
Jackbox Party Games: https://www.youtube.com/playlist?list=PLKeR9CeyAc9Z-qcdp7jq8UKCjNI0nRH1W
Viewer Picture Reviews: https://www.youtube.com/playlist?list=PLKeR9CeyAc9YlTaj3ENlo8d-oa65uSSiK
Memes: https://www.youtube.com/playlist?list=PLKeR9CeyAc9aHzd9UHK6VncJwPuNZ4qqG
Reddit Recap: https://www.youtube.com/playlist?list=PLKeR9CeyAc9ZLiWPuqd4HU32W63O0n4H4
Jubilee: https://www.youtube.com/playlist?list=PLKeR9CeyAc9YPzqPwUJPzInpMgcUwdIWQ
Edited by: Daily Dose of xQc
If you own copyrighted material in this video and would like it removed please contact me at one of the following:
https://twitter.com/DailyDoseofxQc
►dailydoseofxqc @gmail.com
#xQc #NFT #Scam

How do you give us a little bit of background? How do you uh, i just turned 28. uh? Okay, okay, i have it reasonable, okay. So so what do you think of everything you got a jobs link uh? No. I've actually made like quite a bit of money, just playing video games and uh, like i said in the donation, like i've, been in the crypto space for like eight years so like i've made, i don't know a decent amount of money that i rolled from, like Playing video games into crypto pretty much okay, um, okay, so there were, there was three donator andy's uh about um.

I i was going to specifics um. I can't really tell which one was you, but i have an idea. All i was saying is that um? Let's not talk about the we're gon na talk about lit if you want about the the real life applications of crypto as a and blockchain as a technology. I understand that uh yeah because i don't know all about it, but what i meant more is um.

Explain explaining um the actual real life use or the the actual value of the monkey or nfc. If you want just yeah the actual art piece, not like not the energy technology, the actual the art pieces, because i'm trying to tie real life use and whatnot to a piece of art yeah. I get that and i also want to say i'm not going to like shill any like projects or anything like that, like you were saying before you know like i'm not going to talk about like any specific anything like that like so i'm not going to be Like you know, pump the price of something right now or anything like that. Just so, you know right away um, but okay, so like the way i look at it at least is like crypto as a whole has been evolving for, like you know a decade now right and like prior to like three four years ago.

A lot of it was just like speculative. No one really knew like if anything was gon na amount to anything in the crypto space at all. This was before, like nfts were really even a thing like they were a little bit of a thing back in like 2017, but like they didn't really get popular until recently, and a lot of what you're saying is true, like a lot of the crypto like nft Projects are just like overhyped like pump and dump type. You know, like a lot of people, are gon na end up losing money if they like they fomo into them.

But at the same token, though, there's a ton of value behind the way it works so like when i was donating you - and i was telling you like you know, if you understood more about it, it would maybe change your opinion. It's because of like, if you understand voda, what is that, if i said what, if you understand what, if you understand, if you understood more about more about together, like yeah, yeah, sorry anyways, like what you're saying before about you know, we can talk more about, like The blockchain technology and everything like that like when you look at the nft space as a whole, that's what makes it so valuable is the fact that, like say, for example, i don't know like a michael jordan basketball card right, like you know, like the number one Trading card company, it's called panini and like they make trading cards right and you can buy like a you - can buy like a michael jordan basketball card. That's like numbered out of five there's, only five of them in existence right and because there's a bunch of michael jordan fans. That card has a lot of value.
It's nothing more than a picture on a piece of paper or a piece of cardboard. You know what i mean like that: that's really like not valuable, but it's valuable, because people say that it has value yeah. Then it goes with that. Just that's just what anything any product anything at all, actually for sure yeah, but the problem with it and the reason why, like why nfps are so much like you know how the reason that they've, like revolutionized, the way everything works right now and it's going to Just continue to happen is because the fact that that michael jordan card someone in you know china can literally make a counterfeit version of it.

That looks nearly identical and they can just sell it. For you know hundred thousand dollars somebody - and you really have no way to know for sure, if that's a legitimate or authentic card, like there's, really no way to tell for sure besides buying it from someone, that's reputable, that's really the only insurance you have don't get Mad at me, because this is a very uh zero head twitter argument when it comes down to authenticity or what it looks like when you have it technically, when something is digital, it's it's even easier to counterfeit. You can make it perfect, looking right so yeah we can make it literally perfect. You could make it, you could make it a mirror image, but the thing is, the difference is in the same thing can be said for like a counterfeit trading card as well.

Like a charizard, for example, you could have a counterfeit, that's like literally identical. You know what i mean like. You literally, cannot tell the difference between the two, but with you with what you said about like the digital space and with the crypto space in general. That's why blockchain technology is so revolutionary, because blockchain technology is completely open source.

So, when you buy, for example, uh uh lebron, james or michael jordan, nft from somebody right now that nft that has the same value that that trading card does. You can actually verify the authenticity by using the blockchain. The blockchain verifies that that is one of the five that were created. There are no counterfeits of it, and if there is a counterfeit that's made of it, it won't be the bloc it won't be.

In the same space in the blockchain that the you know, the original ones are, you know what i'm saying so like you're, immediately able to tell if something's, authentic or not, because of that reason right right, that's crazy! That's like that! That means that you could like buy an nft of lebron james, going for a slam dunk or something like that, and you can actually verify that this was an nfg that was created by the nba and it was sent to sent to you by the nba, like The actual you know the actual nba, it's not just like some counterfeit one that was made in someone's basement or whatever and you're able to verify that and then, when you traded someone else, they're able to verify as well. Oh yeah, this one actually did come from nba's crypto, blockchain nft platform, because you're able to look at where it exactly came from that's something that hasn't happened prior you know, that's something! That's never been yeah yeah yeah. Well, i understand i understand that use. That's always been.
The main argument is that that's, that is a good, an actual good product. That's a good technology! That's a good method. This game is so stupid. Dude yeah um we're talking about um the weight the way but by proportion um think about, isn't, isn't most from my perspective.

From my perspective, right as like an outsider, most of the nfd being used or the technology being used or or most of what i see is all the all the high behind these, like no there's, no michael jordan or there's no like um sydney, crosby from hockey Or something like that, it's all like crazy, uh, small rat with haircut small rats with eye like it's. It's really created out of created out of thin air with no restrictions, but no uh limitations. It's mac, it's it! You can max it as much as you want and whoever whatever creates them can literally just do whatever you want with it right. You can really yeah max it out.

Yeah here's the thing, though, like just a random person that has no anything like any kind of uh like influence, could make a crypto, and it just does absolutely nothing like if you go and look at like uh a website that shows you, like all the nfts That are in existence, i mean there's like millions and millions and millions of them that are worth absolutely nothing, yeah, okay and then the ones that actually have value have value. Because, like listen, i'm pretty much in agreement with you, where nft is there's a lot of them that are like extremely worthless, like uh, even like the green eyed monkey, that's selling for millions of dollars worth of ethereum like i agree that that's very stupid. I agree. 100 percent, but at the same time no we both can't say it's stupid because, if somebody's actually buying it not in a shitty way, so if somebody's legit purchasing it, then so be it because people buy things that are stupider all the time yeah.

It is crazy. No nothing you're stupid. If somebody wants that much money, but then it makes sense. It's not good with anybody.

It's through people who can't afford it, who don't want, do or who don't want to afford it, but somebody wants to buy it, they can buy it but the same yeah, but that can happen well. I was just going to say that, like if, okay, for starters, just the way life works in general, like if you're lower on the intelligence, you know scale like you're, probably gon na end up getting taken advantage of, i mean look at like indian scammers right like They send out the email that says hi, i'm i'm the prince of whatever, and i want to give you like a trillion dollars right like they don't even make it a realistic number and the reason why they do. That is because the only people that actually respond to the email are people that are like extremely stupid, like when you see that you got an email from the prince of england, saying that he wants to give you a check for eight billion dollars like if you Actually, respond to that you're, an idiot or if it's like, just a more reasonable amount, you actually might be able to get someone to respond who's like a little bit more intelligent, but then halfway through they realize wait a minute. This is a scam, so yeah the scammers weed out all the like, relatively mediocre for intelligence, and they only focus on people that are extremely stupid.
Well, that that same logic can be looked at in the crypto space in any space like in the stock market, literally anywhere people that don't know what they're doing that. Don't understand like emotions that don't understand like hey an nfp is literally an investment people. I don't understand that are going to get burned, yeah, it's going to happen! Okay, so now you're talking about it like it would be a minority except the way that what i'm currently saying personal experience, of course, um feel free to deny it. What i'm seeing is more like um things are steering that way, trying to trying to use dumb people um and that's the majority of it, not the minority.

It's not like the one guy that tried to push his trash one time out of a 100. What i'm saying now is nearly 10 out of 10.. It's gon na be some some some guy pushing some some product that has zero followers. What and the guys like some some multi-millionaire or whatever and now they're putting that product.

That's all i'm seeing i'm not seeing any other like actual legitimate products. I'm like! Oh, that's that that's cool none of it zero unless people have actual there are there's like one or two ones, i've seen, but unless, unless people, i think, i think that that's. The problem, though, is that it's the majority and when things are like that, like majority, then it's like it clouds the sphere and you can't see through it. Okay.

So if you look at like 2017, when, like the crypto market, was like going parabolic back, then um there was like like prior to that. There was really only like bitcoin and ethereum for, like a little bit of time, leading up to that right and like litecoin and a few others and then in 2017. When that massive rally happened. I don't know if you remember, but bitcoin went from like a thousand to twenty thousand yeah, and then you have uh cup coin milf coin dog coins exactly exactly and of all of those dog coins that came out of the woodwork.
There are a few by a few i mean a couple hundred that actually have some really nice value to them, and those are the diamonds that made it through, like any of the d5 projects, which are like decentralized finance. Um i mean ethereum was relatively new in that time period as well. That was, i mean. Ethereum was like less than a dollar each back then.

So it's like there was a lot of coins that ended up. You know being built then, and now they actually have use cases to them. Um, and i think the same thing is happening right now with nfts. I think that, like like in 2017, we saw a million altcoins come out of nothing and then a few of them lasted well.

Now we're seeing the same thing with nfps we're seeing a lot of things yeah. I understand that the problem is, though, is that who is? Who is your bitcoin of art nfts? Well, that's the thing is that like no one really knows for sure, because you know right now: it's all happening as we speak like it's in the moment. So so you understand that that the like responsibility of people at the forefront of it is damaging the sphere at a pretty pretty high rate. No, what was that take that again? Ah i'm just beginning as an outsider, my perspective is, is purely anecdotal right.

It's like it's just based on what i've seen right, i feel like it's most of it is like what i'm saying it's the same scenario like there's no good example like one like because it's evolving bro, that's the thing you got ta think about it's evolving as We speak so like no one really knows, what's gon na happen in the future, but we're seeing nfts that are evolving and they're going to be revolutionary, like say, for example, a musician like uh like a rapper, i don't know like who's the rapper, because now now I'm i'm bringing up real real uh examples and you're, giving me hypotheticals, i'm saying some guy's selling green monkey and they're saying some guy could be making music some guy could do that. It's not a good it's who is doing what right now! That's the problem! This is these are things that have actually happened, though. That's why that's why i'm saying it? Okay, so there's musicians that have sold nfts where it's like um the highest bidder on the nft of like their whatever it is that they're, you know trying to like auction or sell like popular musicians by the way um and artists. It'll include like if the highest bidder will be able to get like a backdoor pass with them when they, when they have their next, like tour or whatever or like uh like this, is why i'm saying that there isn't a lot of like extremely good cases.

Right now, but in the future we're going to see it happening more and more and more, and there are some right now and out of, like i said earlier too out of all the all the ones different aspects of crypto just out of all the different. I think nfgs are probably like the most like the least valuable out of all of the use cases in crypto, but i still think that there is a lot of value to it. I mean just being able to verify the authenticity of something by by looking at it on the blockchain. That's like amazing! That's like unbelievable people that want to sell artwork people that want to sell music, like all that is going to transition to the nft space over the next like decade.
It's just no! No, it doesn't happen. Okay, no, like i said, like i said when we always go to the technology. You'll always be right, like there's no argument against it, but what i'm saying is that it's it's just the majority of its current usage, because all we're seeing is just this um logan paul, pushing minted somebody mending his flip and it seems like i mean most of It is just um, it's just it's just gon na scam, us so so logan paul's minted that he created in 20 years from now in 40 years from now when people realize that nfts have taken over the way that, like music sales, happen, the way that artwork Sales happen the way that, like everything in the entire, like you know, world works, i mean even real estate is going to be traded on blockchain. I'm telling you like it's just never really going to happen.

Those original founding you know nfts that logan paul are meant for that. Logan paul is minting right now are going to be extremely valuable, because those were like the footsteps to everything that was like what was starting all of it and, like you can look at when bitcoin was at twenty thousand dollars each and then a year later, when It went all the way back down to like three thousand dollars each everyone thought that whoever bought bitcoin at 20 000 was a complete idiot right. The same thing can be said right now about people that are buying nfts, because they're not really gon na drop, but look what happened four years later, we're seeing bitcoin. You know approaching all-time highs right now and we're probably going to continue going over 100k or at least touch 100k like we have so much momentum, and the point i'm trying to make is that, like the nfts that people are buying right now, they're an investment they're Buying them as an investment they're not buying them because, like they think this, okay, okay, okay, okay, please, okay! Even though you're saying four fronts all that stuff - okay, let's be honest, except for like a couple of them or a couple project projects as they so call them, nobody is buying that, like skeleton mouse monkey and whatever i'm gon na use, who knows, though, that's the Thing because, like i said it's, it's the founding technology of nfts, like that, when people think about nfts and how they've revolutionized the way that the world is work, those were the ones that started it.
Those were the ones that paved the path like those were. The original ones they could be worth more than they are now so this is, it's always like this right, something new comes along doubters, blah, blah right and, and it it'll it'll, always like um translate over, and then things becomes more solidified right. The the thing i'm saying, though, is that, from my perspective, from my perspective, uh, the majority, if not all the uses of of the nft with art, is all really bad and um when people try to say yeah, but the technology. Let's be honest, none of them do it because of technology and what it means they they only do it because of what they get out of it and what they're getting out of it.

Now it's not about the technology has nothing to do with it at all. Nobody buys them saying guys it's because it's nft, nobody gives a they do it, because it's an investment and the reason that it's an investment issue, i don't know bro. I don't know because that's it's the same thing as what crypto was before nfts were a thing. People used to say the exact same thing about bitcoin.

Oh, this is nothing except you're still buying some sort of currency instead of buying some sort of random money made by some nobody yeah. But but the thing is bitcoin isn't even really a currency like it's you. It's the way it's evolved is it's used to hedge against the us dollar like that is strictly the only reason again again, because people that use it don't go like do the technology dude, the whatever they'll say dude, it's worth that amount of money for them. It's money, it's worth money, they don't give a about who made it? What kind of technology? If it's going to space, don't give a for them.

It's money and the story doesn't mean that those people that it's usage in outdoor applications - nobody gives a right. I don't know i don't know like. I think, that's the reason that it's gotten to the point that it's at. I think that if it was just like you know, a bunch of it wouldn't have gotten to the point where it's at it would have had its like pump and then it would have faded away and krypto would have just been something of the past.

And that would have happened multiple times when we've seen like these huge rises and then like a correction over the course of like two to three years and then and then it rallies again like that, never the rally again wouldn't happen. The crypto space as a whole. You know how much money is in the crypto space bro, it's like insane yeah, but things will always course correct on their own. Of course they whatever for now it's it's still kind of slow people, can't even explain these things.

That i mean i have to get a eight-year expert to explain. Half of it and it was in my feed on twitter is filled with it, and i still understand it. That's kind of the problem. Is it it'll take a bit of time to solidify it and now the problem is that it's used maliciously at high rates, and i think it damages the sphere.
So i always say be careful when doing something like that. I and - and i think it's crazy - the narratives that people have when buying like that when they sell when they sell to buy, to buy pictures right and then the narratives it's a this. It's a this. Is that no it's not it's, not, though, and by yeah people say: oh malicious.

So what are you talking about? Okay? What what if i made 10 images right now on paint 10 of them, and i i minted all of them - and i said yo of yours - guys guys there's only 10 of these and i'm so cool at followers on twitch or whatever buy them. There's only 10 of them they're huge anybody bought them, and then i just and as you sold to them then it's like i mean oh yeah. A lot of it is that it's just in different methods, exactly because people that are excited about the crypto space because of the blockchain technology are in like that and they're also fans of you. It's the same thing as being a fan of michael jordan, like if you made an nft or if you made, if you minted 10 nfts, they would sell for a lot of money bro, because you have people that are really into crypto and you have people that Are like pretty big fans of you right, like yeah, like i said, if once people see more legitimate uses and more legitimate, uh uh ways if people are or evolving their project or whatever, what it'll, solidify and, of course correct it.

But now, though, the image people have of nfts is bad and honestly, can you really blame them out of them at all? I i currently the way the way it's used. It's true, it's disgusting i mean yeah, it can be, it depends on. If not, it's not is that it is an it and it no. No it's an ongoing thing.

You can't when you say it's all my money, though, like there's people that get burned yeah and i just feel like those people are not no. No. You cannot talk about something of a majority when using the example of the minority, it doesn't make sense. Hey look at this understand what you're saying hey nine of these people bought these look at this.

He said yeah, but i didn't lose it because i bought it for that. It's like okay! Well, these are two different scenarios that that's not that's, not how it's i don't tell you. I see what you're saying yeah like a lot of people, are losing a lot of money and that that majority outweighs the minority of people that are actually like. You know benefiting from it and the p.

A lot of the people that are benefiting from are this shady scamming. You know here is a good metaphor. If i say if i sell you um a bottle full of liquid some some cool new drink right, i tell you: oh yeah, okay, you have your bath water. You have to put up your butt for it to work and everybody uses it that way.

Right and everybody starts getting a bunch of really weird symptoms or whatever they start getting. They start getting sick because they put up their butt right and one guy says. Well. I don't need the research and you have to get to drink it right, the one guy and like yo, guys guys look at all the benefits of this juice.
It's like! Well, it's not people who are using it right now. I don't take time for google to convert just stop, putting up their butt, that's just kind of how it is and right now i think nft is everybody shoving up the monkeys up their ass and you coming along drinking it and being like yo guys? Look. It works for me, bruh yeah, no yeah, i think we're in the early stages of it. So there's a lot of like over hype.

Right now. I agree, but you have to understand, though, the reason the over hype is there in the first place is because of the value, because the fact that you can verify the authenticity of a of a virtual item i mean bro. Everything is going virtual right, like on world of warcraft, like i have a swift special tiger. I don't know if you ever played that game or not, but that's just like it's a mount.

That's worth like ten thousand dollars now right and it's nothing more than virtual pixels right and i don't own that blizzard owns that. It feels like i own it because it's my so special tiger, but i don't own that blizzard owns it completely and as as nfps are evolving and there's also gaming that are posted on blockchain right now, when you own that swiss special tiger, you actually own it As the player, that's another insanely cool, fair enough, then what tells you that your skin won't devalue, because blizzard says it: we're adding um we're releasing a new pack and we're getting more special tigers and the value dips, because now there's more supply. What tells you that, and if somebody's not going to make more or does it, what like um, i mean it could happen, but you just have to know that the game that you're investing in the blockchain game is, like i mean bro like like who would have Knew that associated tiger would be worth ten thousand dollars eight years after you know, okay, because i had an old league account that um a bunch of skins like um, the winter skins or the olympics for like corky and and then oh well, look they're re-released. My accounts work nothing now, oh wow.

So how did you control that this is this doesn't happen, yeah right? It's a dog company yeah! I know bro, like you, don't know that that's gon na happen for sure. That's why you put your money and you put your investment in smart areas. You look at the teams that built nft projects and you invest in ones that you feel are going to be there for a long time, ones that are passionate about it and then those are the ones that aren't going to screw over their customers or their players. You know, and the other thing too is like with the way blockchain works a lot of times if something's like minted out of 10, you can't just create more like there isn't like.
Oh now, there's 11 out of 10 or 11 out of 11, like if there's 10 that are created, there's 10 are created and that's it and then, if nfts continue to be popular years down the road, the original ones that are available now might be even more Valuable then so so they're they wouldn't be able to um, create, let's say the nba at least 10 of one. They wouldn't be able to one day just create more of it. I mean they technically could, but would the nba do that? Okay, i mean so now you know the standards of the nba, but what about the standards of some some random guy or some random entity or some cool project? What about these guys weapons when goes wrong and they need money? What happens when one thing when things start kind of like sinking a little bit, can you really try? Can you really trust the whole thing? Uh i mean, i guess not dude like if you have like a super pessimistic mindset about it like yeah. Of course, anyone could scam you at any time i mean twitch could shut down too, like how do you know jeff bezos isn't just gon na shut down twitch, you know, like you're, still investing your life into streaming right.

I think that could happen. I think comparing jeff, bezos and and and pseudo picasso with eight eight followers is a com, is a ridiculous comparison. Yeah, that's why the people that are investing their money into someone that has eight followers is is stupid. You know like well that, but that's most of the currently, i think i don't think it is at all i i i.

I think that most of the of the money being invested in the nft pictures a is most of it, no follower. I i that's what i think that's being promoted by influencers. I think that's one of the big problems. That's why it's why? But in the first place yeah and like i said that that is like kind of like the uh, the like the shitty aspect of it.

Like that does happen, your influencers are getting paid to promote you. You want to go today, i'm talking about. What's that, i'm not calling on andy, but if you go to any millionaire andy milinakis is twitter. Go to his last 10 promoted projects.

I don't think a single one of them has over a hundred followers. That's that's! That's that that's just what i'm saying and i think he owes it and these projects would never fly and they would you wouldn't even call them products. We call them a misery if it wasn't promoted by some people with a lot of followers now, wouldn't it yeah and something like that is gon na end up being worthless. The problem is that you say something that's most of it.

I think it might be. Most of it just like on like just like the all coins in 2017, most of them ended up being absolutely dog most of them, but if you spent a lot of time in it and you researched it and you were logical and you used like intelligence and You, actually you know in research, you ended up making money. You ended up profiting yeah, i mean the same way as buying into internet in a perfect world. You're right, that's that's kind of like you know, let's be honest, that's kind of like communism.
You know it's. You know, i guess i don't know you. What's the dude's name from shark tank, the one that owns the mavericks, i can't remember his name on the top of my head. What that's that that was! That was that's a good analogy.

I think that's fine yeah yeah! I'm just saying in a perfect world, everybody will do we'll. Do the research we'll get the right projects we'll get the non-scanner look at the whatever right, but i think right now it's important if you understand, there's a big danger because most of it isn't and yes i get it it'll change it over. I never said it's a permanent thing, but i'm saying that uh, your average joe can't navigate things safely with a good safeguards and good guidelines yeah. If they don't do research yeah.

I agree. They're gon na end up losing money you're eighth year, andy compared to to joe blow yeah. I know i i get that and like i also lost money too, like i lost quite a bit of money in 2017 when, like the markets, crashed um, but the thing is, i was still passionate about it because i understood what was happening underneath the hood of Krypton as a whole and like that's what kept me in the space and then as it gets more and more mainstream and it becomes adopted by not just speculative investors but, like you know, big ass corporations that are buying. You know millions and millions of dollars worth of different cryptos.

What i was saying before about mark cuban too mark cuban didn't care at all about crypto for the longest time within the last two years, when he started to recognize what was happening with like defy, which i said before he got a huge boner bro he's on. I understand what you're talking about the problem is that you use examples like extreme big corporates, jeff bezos, somebody who are literal vcs, venture capitals who don't have to care. They don't they're, not they don't they they're. That's the whole point.

They don't have to care. That's really the whole point of it and you're, comparing that you're, comparing these guys to the average buyer, making it 12 an hour. It's just an unfair comparison. No i'm comparing them because it shows like the most intelligent people in the world are transitioning into this space.

Right mark cuban didn't care about crypto. Now you see him on podcasts wait, but if it fails, he doesn't matter either. I'm saying if it fails and it up, he doesn't it. How many products has he invested in it that failed? Oh dank tonight? What? If you told everybody to do the same thing here, people will be losing their houses and what are you all about yeah? I know that, but you also need to take risks in life as well like uh you can afford when you're broke, though what? What is this about, that that comes down to the lead, investing advice, which i don't even think, you're you're supposed to do whatever right.
Well, yeah, you know, like the financial advisor thing, blah blah blah. You know, i'm not sure i don't like have conversations or like you know, but but it's crypto when it's blockchain, so i mean we're chilling because it's something really really good lately. So we're good to go here. Well, that's the other thing too is, and i'm glad you brought that up because pretty much everyone, that's really passionate about crypto, doesn't have a problem with regulation at all.

They think that regulation is good as a whole because of the fact that what you're talking about the main thing that you're complaining about people getting you know just scammed completely like that, will be happening less and less and less um. Hopefully i mean i feel like that: same type of thing happens in the stock market all the time i feel like it's rigged as hell, but regardless, though, regulation is a good thing because it makes it where there's more legitimate, stuff happening and less like gray black Areas, you know just not good, okay, okay, all i was saying is that um, i think you have to take us. I think we will have to take a step back we're going to take when you're taking financial advice from uh elites or whatever that are, that are a lot of times. Little venture capitals right that have money to that they're just going to put around and most will fail, and someone will pop the off right is that the whole point of venture capital right? Yes right so so i think i i think a good example of your of your of your mark cuban okay i'll fire back then i'll do a copy paste the same thing, but with failure.

Um elon musk, with dogecoin pump pumping the out of it always promotes it, go crazy on it and where is dosh going how uh, i think dogecoin is like worthless personally. Okay, so if he dumps 20 million and it fails - and it goes to zero when it was in the morning, do you think that he cares about it? You think that it affects his morning, coffee, no it doesn't it doesn't. So so why tell everybody to jump in a ship that you know will probably sink when some when you have a yacht or 20 yachts? Behind it, i mean for starters: dogecoin is still like a really really large market cap like there's. Still it's still top ten.

It's got a lot of money in it still so it's only down like i think it peaked at like 70 cents or something it's like 24 cents. It's like yeah, it's down from where it was, but because it lives on it. Literally, it's living on life, support from promotion, isn't it and when he says oh guys, jump in the ship, everybody jumps sending some people, that's the problem with it is that if i, if i made right now, 10 10 images - and i didn't tell you about it - And i and i made a new twitter account, and i i was guys by my nfts - i wouldn't get a single sale in the next one million years right because right now on stream, i said guys, look at me guys and i promoted it it would. They would sell in half a second.
So how is that any different than like when you look at artwork bro like look at some abstract art? That looks like absolutely disgusting, i mean it looks like somebody took a paintbrush and just a paint bucket just dumped it on the damn canvas right, but because it's like a popular artist that piece of artwork will sell for millions of dollars. Right, oh yeah, for sure. Just it just happens, that's the same thing. It's it's an identical situation like, except for this time the art person that's selling their artwork as an nft doesn't get scammed because they're not going through, but a company yeah with music.

I didn't sell them on a dream, though i didn't embark on a thing that that caused the money for for the investment or whatever they bought it for the value they get immediately now not for the the the the whole sphere around it yeah because artwork. This is why i brought up the thing about world of warcraft as well, yeah and you're, not going to convince me that everybody enjoys it. My my purple headed monkey. No, they don't enjoy it that much if they care that much about it, they would they would have gone or bought art way back point, but it didn't yeah okay, so they don't like them that much the world the world is complete.

I mean who's to say they don't like it that much they're buying they're buying it with like tons and tons of money so like they must like it enough to. You know, be risking and investing their money into it. But what i was going to say, though, why another reason why i think nfgs are extremely like uh, revolutionary and like that is because, if you look at the world, we live in it's getting more and more digital, like every single year. Right like, if you show your parents, that you know those skins that you had on riot, they would on league.

They would laugh at you and be like. Why is that worth anything? That's stupid! You know it's a video game, but you look at the kids now that are like younger than us. They live on their phone 24 7.. Everything is transitioning into crypto so like for me and you, if i like, show you my special tiger, i'm excited to show you it because i'm happy, i have it and you probably don't have one and i get to like feel good that i'm riding around on That mountain right and you get to you know whatever want one.

A lot of people would want one right. It's like a desirable item, so that's happening more and more with virtual things and nfts are literally the exact same exact same thing as that. Okay, you know what i mean. Can i imagine you.

I generally think that um this is just my own perspective. You don't understand the value of the technology and i'm actually actually excited, because i think nfc is a good it. It's a cool thing right that that you can definitely tell it's authentic and you'll, keep it and there's that amount, and it's yours right. I i generally think, even though the whole thing as a whole, the whole ship is going to sail right um.
I think some of it is a big-ass bubble. That's that's going that that's going to burst! Um! I don't i don't know. I don't think that many people are are going to be like. Oh man, i buy this new house and uh.

I want to put artwork and i'm putting this this tv and it has my nfp on it. I i don't. I don't see that it's just that. I don't see that happening yeah.

I think, what's cool like why i disagree with you there. I think that, like the fact that you can like buy different items for inside of like a virtual house and then you can like bring people like through twitter, i meant your real your real house, not not not like your sim city or your sins, whatever yeah. Well, yeah, okay! So well with what i just said, though i feel like that's another reason like uh nfts are cool. I mean just the fact that you can do that.

The fact that that's a thing like that that has value and like i agree with you bro everything - is in a major bubble right now. The same thing can be said about almost anything from a financial aspect in the world, like almost every single stock is overvalued. Like an unbelievable amount, does that mean that investing in the stock market is stupid and bad? I mean no, like you know, historically speaking, there's nothing better than investing like it's just the way that it is, but with that being said, okay nfts are new. I think that it's a high risk high reward investment.

I think that if you do your invest, if you do your research and you invest in like proper projects, it's something that can make you a lot of money in the future, but no one knows for sure. What's going to happen? Okay, i understand i, i understand, of course, there's value, there's there's always, but anything which i mean yeah, but you talk so much about it without bringing up any of the value you'll flame instantly monkey, but you won't like talk about that as a whole. What would you say, though, the values really made up? I thought you had value actual things you could apply to the real world like some actual things, but we're telling you about is just this. This um, what's up about this, oh, if someone's to buy it, he can that's worth it's worth that much to him.

That's that's the only difference. I thought you had like a oh, it's like a real life application. It's like yeah, i mean yeah, but it's still it. It's still like made of value.

It's just gon na i'm, i'm i'm gon na be able to everybody yeah, i'm not really sure what you're saying right now, but no me neither money down. What is this thing? I'm saying that there are real world cases like, for example, uh, like soulja boy, you know he's on twitch all the time like or he used to be at least imagine he made an nft that was like okay, the highest bidder will be able to have me Featured on one of their songs right, like don't, you think, that's kind of cool. The fact that, like a musician, is able to make all of the money from them being featured on someone's song without having to go through like a record label and everything like that and give like the the manager and their producer and all that thing. A huge cut of it, it's all strictly for them.
Now. That's awesome, bro, like that's. Why do you really eat? Do you really need an ethyl for that particular use? Well, i'm not sure, but the same thing happens with like selling music anytime, like a musician wants to sell their music, it has to go through like uh, you know whatever record label that they're signed through okay. I understand i understand it.

I i i guess somebody will come down to um it. Just it's just like a human thing like like what do people do? People are now like to have art in their house. Sometimes it replicas sometimes sometimes not replicas right, like yeah, do you do you actually see yourself in the future, having uh a flat two tv uh, a 90 inch on your wall and being like look that that is the purple headed monkey i bought eight years ago. Look at it like.

Okay, send me the the certificate of verification from purplemonkey.com. Okay, pull out my phone to oh wow, it's authentic, that's dang! It it's! No! I don't! I don't! I just don't see people doing that. It just sounds so crazy, yeah! I get it, but it's investment people, my people like i i get it. I get it, but the same thing can be said about real artwork bro like look at the mona lisa or whatever the hell like.

I don't know how people consume it now. You're not saying on a product of the house, gon na be consumed later on you're, not on a dream. It's something that can it's now, though, okay and the the you're not able to look at the monkey now, like yeah you're, a believer okay, but i could. I could i could look at it from a screenshot yeah.

What do you mean? No, what do you mean? I just i can see the monkey, whether i own it or i don't own it. That's the whole point. Okay, you can see the mona lisa, whether you own it or not, too. You can just go to google images, but for some reason someone will pay like one million, because i'm just saying i'm saying that's how people do things right now i get it you're saying on a dream about how people, how will people consume art in the future? That's a dream that that's a hypothetical that is an event and you're overselling that how people consume art right now, i'm gon na put a frame in my front in my living room: oh wow, it's so cool right! That's how people do things right, but the world is becoming more virtual.

That's why i brought that up earlier bro like the the younger kids. Nowadays, they don't care as much about having the piece of artwork on their on their wall in their house. They care more about what they have on their phone, they buy a replica and then you think that somebody's going to buy uh they will absolutely want to have the real digital, no shot. Dude people are people already buy transition, people already buy real replicas and you think something is even more pristine because it's digital it can be a one-to-one perfect that they're gon na buy they're gon na buy or even into pristine's.
Just because it's because i think so the same reason that someone would buy the authentic mona, lisa or lebron james basketball card. I think that's a bubble and i think i think i think it's disingenuous to say that it's not overselling people on a dream or on on so many things that could happen all lined up one behind the other. Like i said, i don't disagree with you about it being a bubble. I think that i see more of like the value long term, because i feel like it's gon na revolutionize revolutionize the way that music is being sold.

I think that you're being able to remove the record label completely that picture attack uh music, music envy, it isn't being sold nobody. Nobody buys music, okay. Well, i mean look at groovybot, for example, there's a reason that got shut down because youtubers right, like uh, i don't know a youtuber that has a youtube channel where they're, like posting their music, a lot of times, there's like a manager and a record label and All that, like you know who oliver tree, is like he had this huge thing with his record label, where, like they were, limiting what he could do with his music and all this, and he was like super mad about it. He's talking about it on an interview with like uh h3h3 or something i don't remember, i can't remember where he was having an interview, but he was complaining about how his record label had like a strangle hold on well a lot.

A lot of these examples are from big people: rich people, influential people, people have a lot of followers. None of these apply to your average joke. None of them do i haven't heard once one i mean i'm an average joe who was able to, because you said what you said and you don't know it was that that you would be coming because of real life applications and how people will use it. Uh soldier boy isn't people this guy, isn't people the millennials, amazing people.

These are legends. These are the the top dog, the one percent. How? How does that help the the joe blow, the average consumer, the guy, who buys a replica of artwork to put in his living room? How does that help them? It helps them because, if they're intelligent, like i said before, and they do their research they're able to take advantage of it in a in a uh, you know, like a investment point of view and people into that people purchase that early, that things won't change. That um, that people will that that um, that it'll remain a good and valuable.
The idea that um people will consume art differently and will collect them differently. All these. The hype that it was all in one behind the other, like back to back to back to that, it's it like, i said it seems disingenuous for me to legitimately try to sell that on to the average person that can't promote things or can't pump and dump Things just just for them to own it or buy it or consume it. It just doesn't make sense it to me.

It feels like it. I like i'm, ripping them off or or um. I'm they're they're gon na they're gon na it up yeah. Okay.

So i don't know like there's so much more than just like the really wealthy people like when you're talking about how i was only bringing up like soulja boy, and you know, like they're, really wealthy people. Just the fact that, like the user, like just the random person that wants to buy the artwork or the song or whatever from the musician or the artist, is able to do that, that also benefits them like they don't have to be making money from it. In order for it to be an investment, you don't have to invest thousands of dollars and do an nfd project to be part of the experience like, for example, my girlfriend makes art right. It's not like super successful or anything like that, but she makes art on like canvas and like it looks really nice and she tries to sell it and like she might sell a couple of them here and there and like etsy and whatnot.

But it's not that you know it's not like she's, making a huge ton of money from it or anything like that. Okay, but as as nfts evolve in the future, there will be an nft place in like an nft area where people will be able to sell artwork through that and she would be able to, for example, sell or work on there and like she doesn't have to Be making millions and millions of dollars to be able to participate in it still or just the people buying it too, like let's say uh oliver tree makes a new song and yeah yeah like is that whatever i think i think it comes down to? How do people consume art out? I, i think it's a big hypothetical to say, uh, that this will remain or will be like a trend for a while like um. Oh, i that's how i consume art, that's how like weapons. We have a big collection of when you show up you pull up your ipads.

They look look at all what i have and you show your little you're like certificates of authenticity. Like i mean what are you doing? You have trading cards, you wait for your friend to come over and you open up your binder and you show them all your trading cards. What happens when i make me meet a new friend and i and i play world of warcraft with them right. I go on my swiss personal tiger and i'm like yeah check out this mount.

This is my like. You know. Why is possession on this? Like i said you know it yeah, i don't i don't. I don't think you get it it's it's just it's a how people do things it just comes down to i i j.
This is my opinion. By the way. Don't do this as a as a fact or say: i'm done for it's an opinion. Is it good? How, as people as humans, do we do things? How do we consume arts? I don't think there's a any and anybody does that we're saying, like i'm gon na pull up a binder and show you all my own nfts or whatever, like i don't know it just it doesn't seem like something that i would because it's really new bro, like The same thing that's happening right now is what was happening in like 2014 2015 with bitcoin.

No one understood bitcoin, myself included. That was when i was still learning about it, but like no one understood it, everyone thought like this is super foreign. I mean it's the same thing with the internet. Like you, you look at like interviews with people talking about the internet when the internet was first becoming a thing and they're like what is this internet thing? You know, like you, see the videos about it where people are just completely clueless.

Why do i need an email? I have an assistant that can just go. Send the letter out in the mail for me right like that's how they literally were thinking back then, but the internet completely revolutionized the way the world works and now the internet's an amazing, beautiful thing right like for so many different reasons. The same thing can be said for crypto and bitcoin in 2013. Bitcoin was confusing.

No one understood it. You fast forward, 10 years, nearly and now okay bitcoin makes sense. But now nfps are like confused. D5 is confusing, it doesn't make sense.

It takes quite a bit to be able to like fully grasp it and wrap your head around it, and even then you, you still are only looking at the fact that, like okay, okay as much to understand that okay, listen. But how do that does that person use or interact with that bitcoin they trade it they sell it. They get real-life money out of it. It's how it's, how they do it right yeah, and you can do that right now.

Right now, i think you're selling them on an ideal or oh, oh um. Things will be done this way or whatever, because by now i i mean, except put it on twitter and put it as your proper picture of oh yo. Look man, that's my new monkey. I mean i, i just don't see it yeah, i don't know like like.

I said i think that the world is just transitioning into more digital and i think that the younger generation is going to see more uses for it, and i think that the fact that there is so much money in it. The fact that the market cap of the crypto space and nfts and all of it is so high. It's like that for a reason, because people enjoy it just because you don't doesn't mean that other people do so like, for example, two people that are really into crypto are really excited when they get to show their friend the monkey with the green eyes. You're not because you're, not in that space, you don't find you don't have any passion for it or anything like that, but it doesn't mean that other people in the world don't so right.
.

By xQcOW

14 thoughts on “Are NFTs a Scam or Investment? | DEBATE”
  1. Avataaar/Circle Created with python_avatars Tú Nguyễn Trường Anh says:

    The people who are doing NFTs be talking " oh it's not about the money " when most artists I know (3d, 2d, fine art, anime ) is in it to sell their art at an INSANE AMOUNT OF MONEY that their normal commissions and contract work can't provide
    Not saying it's a bad thing, but " it's not about the money " makes me laugh my ass off every time

  2. Avataaar/Circle Created with python_avatars WingArt says:

    the NFT technology is really good, the hole thing with being able to verifie a picture, ticket, song, even property or whatever it might be is huge. BUT imo the nft space is a little but lost atm, right now it feels like its only bored rich people buying shit cous its new thing in the crypto space. it needs to mature and find its real purpose and it will, just give it time.

  3. Avataaar/Circle Created with python_avatars GG browny says:

    He acts like counterfitting something to be almost a 100% the same as the original is easy lmfao "some counterfitter in a basement" no shot buckoooooo. And on top of that there are ways to detect wether something is the real deal or not like age of fabric age of ink etc etc.

  4. Avataaar/Circle Created with python_avatars Son of Art says:

    This guys just a salesman. You invest in an idea, and you can win and lose. the economy shuts down and only then you see it was untangible. its the lie that you own something, believe in the idea. uneducated will get exploited all the time. this arguement is full of beating around the bush and not having structure arguement to advance the point

  5. Avataaar/Circle Created with python_avatars Son of Art says:

    People will always be getting exploited by technology, development, and upper class. The only thing you can do is educate on how to manage finance and understand business at the basic level. Consumerism, supply/ demand etc. This guy was invested in opportunity and won more than loss. That isnt common and he is bias by that as you can see so hes ignorant to reality of average consumer or he has bad intention. There is no difference between these types of investments and buying shares in a company. It took a lie in the beginning to build value and make it tangible, only until the economy shuts down and youre not given the money back do you realize its untangible. its simply just exploiting the uneducated in order to create something, and make the idea "more tangible"

  6. Avataaar/Circle Created with python_avatars Yo Han says:

    I mean even Felix himself realizes the use case. It's like fine art, in the future it will have. Most of it won't but there will come a time where the Mona Lisa of NFT will surface.

  7. Avataaar/Circle Created with python_avatars Corey Franklin says:

    I think they both brought up some good points. NFTs are just a virtual investment, its similar to selling art IRL, but NFTs are just easier. Its also why dead artists art is more expensive. Because it can never be replicated and nothing new can come out, therefore making it a rare thing.

  8. Avataaar/Circle Created with python_avatars SomeUp says:

    NFTS are a cult like figure that is mostly garbage. There are good pieces but almost every single NFT “investor” only cares about selling their generated monkey onto someone else for a higher price than they payed it for. If these “art” pieces didn’t have ETH or USD tied to them no one would care about the piece itself.

    NFTS at this point are playing the game of the bigger fool. Watching people talk about NFT on Twitter every single topic is talking about how they can dump it onto some other poor sap for loads of money. It’s a shame these NFTS soil the blockchain technology overall, there’s so much cooler thing you can do with dApps than making soulless art piles of shit.

  9. Avataaar/Circle Created with python_avatars Vladimir Kalashnikov says:

    the way you see it, is cause you dont understand it. alot people dont right now, cause they dont have the future vision on it. no one knows, but some take a risk, and see the vision and future in crypto

  10. Avataaar/Circle Created with python_avatars finn says:

    There are always going to be over-promoted pump and dump NFTs, its just there are more right now because its so new.

    Even if you had something big like Bitcoin for NFTs, there would still be pump and dump dogshit. Bitcoin is huge but you still get scam coins like savethekids etc.

  11. Avataaar/Circle Created with python_avatars Filibuster says:

    This guy talks about how nft or blockchain will be used to buy houses and music. Why can't we do it right now? Not like the tech will evolve and allow this to happen. We already have the technology. No one cares about it. I can buy music or house online anyway.

  12. Avataaar/Circle Created with python_avatars finn says:

    Xqc's arguments in this are so braindead. What value does something being physical have over a digital item? Especially if the digital item is a lot more secure.

    Because its not about the physical object its about the money behind it and the potential to make more.

  13. Avataaar/Circle Created with python_avatars epicpurevids says:

    I agree with XQC in most spots in this except that poor people should not take risks in the space, if you are poor and invested $1k into some of these projects they could have 100k+ now off that. If they are poor and lets say have 5k in the bank and decide to invest $1k into some early projects they like and hit something big like that it can be pretty life changing money, and if they lose it, they will still be poor and still have pretty much the same lifestyle, my point is as long as you don't chuck 100% of your net into risky shots, you won't just instantly go homeless or something like losing a damn house, you can responsibly invest into crypto and also be very poor at the same time. I personally know of a friend who turned a few thousand into 100k Altho im specifically talking about quality crypto, not NFT trash lmao. So yeah NFTs are inflated joke at this point. DEFI is where most the money was at/is at.

  14. Avataaar/Circle Created with python_avatars Flux as says:

    I dont think the guy mentioned it and i think its a big deal. Lets say bored ape yacht club, if u own one of their nft they host parties where only owners of their nfts can enter and meet other people and network, other benefits outside crypto and benefits in crypto

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.