2Yr·

‼️ Bill Gates says NFTs are '100 percent based on greater fool theory'

🚨 The tech billionaire Bill Gates has described NFTs as "100 percent based on greater fool theory" based - the financial concept that even overpriced assets can make money as long as you can find a greater fool to sell them to.

👀 On one of TechCrunch Climate Change event organized by TechCrunch, Gates said he favors Investments in assets with tangible results, like farms or factories, or a company that makes products (no surprise as the largest landowner in the U.S. 😂) and that he has no position in cryptocurrencies or NFTs. "I'm not involved in that. I'm not long or short in those things,", Gates said, suggesting that he is also leery of investments that aim to, "avoid taxation or any kind of government regulation."

😄 "Obviously, expensive digital images of monkeys are going to improve the world immensely,", Gates quipped, referring to the flagship project of the #nft, the Bored Ape Yacht Club.

🤔 What do you think of the attitude of Bill Gated, which btw also his friend Warren Buffet represents?

13 Comments

Dividende > Zinsen@GoDividend

2Yr

Maybe it's my lack of imagination or my age but I like to share their opinion

•

Felix@_Gonzo

2Yr

@GoDividend how come? So you just think it's also because of the non-existent intrinsic value?

••

Dividende > Zinsen@GoDividend

2Yr

@_Gonzo
-the stupid monkey 🐒 Doesn't pay me any dividends! -because it doesn't generate any sales, -because it doesn't create any added value, -because it doesn't create any jobs 😂 -It sits on some server and waits for someone to pick it up. Somehow the whole thing is just not tangible for me

•

Felix@_Gonzo

2Yr

@GoDividend Valid Arguments

•

Lucrash@KapriolenCapital

2Yr

@GoDividend Hmm but Crypto itself via Staking could already pay "dividends". But you have to consider the corresponding inflation mechanics of the coins, otherwise you can get out at +- 0. The monkey has also created labor because VC money has flowed through the hype of the monkeys in crypto booths which in turn have created jobs. Otherwise, it does not bring added value 🥴.

•

Danny@Dannys

2Yr

@GoDividend I feel

•

Sven@svenleowe

2Yr

Ok Boomer

•

Noah 🔅.@Prospector

2Yr

@svenleowe Mister Tesla 🤣

•

SharkAce@SharkAce

2Yr

He's also right🙃 applies to art in general. Art only has the value that someone else "dumber" pays for it, with the exception of historical works of art.

•

Smudo@Smudeo

2Yr

Ponzi scheme 2022, buy what does not exist 💋

•

Julius von Sylt@JuliusVonSylt

2Yr

Was easy to make money with it at the beginning of 2021 but now I would leave the fingers of

••

Marius@mgart_

2Yr

For what NFTs are today for the most part, I agree. Thought further and provided that the technology finds application, which I am convinced of, NFTs (technology behind it) are an interesting investment case. Concert tickets, proof of ownership in general, song rights... But to estimate today who will be the big players here, I cannot. There are already many who have specialized in this (Immutable X, Enjin...), but currently I am just watching carefully.

••

Der Spekulant@Derspekulant1

2Yr

You can also simply create an NFT and trade back and forth between 2 of your own wallets until you reach the desired selling price and then throw it on the market. Then a buyer comes into play who has no idea. The art market is determined by a few buyers in real life anyway. You have to watch the videos of highperformer Henning.

••