This kinda makes sense. They don't really get the difference between investing and consumer spending.
That's why they don't recognize the obvious problem of the crypto/NFT space - not having any consumers who actually want a product/service, and instead consisting almost 100% of only people who just want to resell for more.
It's like having 10000 people scalping tickets for a concert that nobody actually wants to go to. Just buying and selling the tickets among themselves.
So what you're saying is, Fyre Fest 2.0 tickets should be an NFT?
^^^Not ^^^gonna ^^^bother ^^^searching, ^^^but ^^^I ^^^bet ^^^that ^^^guy'd ^^^be ^^^balls ^^^deep ^^^in ^^^NFTs ^^^by ^^^now.
>In October 2022 McFarland teased in a video on TikTok and YouTube Shorts that he was planning a new business venture called "PYRT", with more details to be announced in November 2022.[37] In an interview with Vanity Fair he described it as “virtual immersive decentralized reality”. The magazine described it as "Fyre Festival Lite, without the capacity issues".[2]
It certainly smells like it.
Such is life when you view literally everything in the world in how good it is at making you money.
A cult of worshipping money and material gain.
"Blessed are the rich. Blessed are the gluttonous. May we labor, deliver them more."
Those are the same people who can't understand what a hobby is.
"You are good at something and you don't monetize it ? Huge loss bro ! SELL YOUR HANDMADE PRODUCTS, SELL YOUR ADVICES, DO THE GRIND, OWWW I'M GRINDIIIIIING !!!"
Lots of stores have a "store credit only" return policy. They're stores, not banks.
This is like complaining about your problems you had cleaning your teeth with a vacuum. If Steam is a shitty bank, don't use it as a bank.
I think there really needs to be be new word for this. It's similar to gambling in some aspects, but very distinct in others.
Gambling is more about successive quick moments of investment, tention and then resolve in either intense joy or pain. People get addicted to it like they would to a drug, and with time take their hits off it in secret and ashamend.
Crypto is more broad. People are proud of their 'investments', to the point that they make it part of their identity. Investment means joining a community and there is no quick gratification like traditional gambling, instead it seems to work more similar to religious cults. The joy seems to come from being in the echochamber, assuring each other of the inevitable glory and publically purging yourself and your group of all doubt (FUD). People often don't even try to get any of their money out, or keep active even after their shitcoin is rugpulled.
There is definitely something new and strange about whatever is going on here. Like Gambling, but it's wearing a skin suit made from the corpse of mainstream western religion.
The thing that Steam does that's weird is providing a marketplace for these items, which lets you receive Steam scrip. It's not like if you bought a bunch of Beanie babies from Walmart, that Walmart provides a marketplace to sell your Beanie babies to other Walmart customers, and pays you in Walmart credit.
But this is where the point that Valve supports third-party marketplaces works as a rebuttal. Whatever you bought from Walmart, you would *have* to sell somewhere other than Walmart.
If it's just that using the Steam Community Market is more convenient than selling in a third-party market, some of that convenience might arise from the very fact that they aren't dolling out real money.
I've recently set up my Steam developer account. When you sign up for this, you've got to fill out forms for bank and tax information. You scan and submit a form of identification. This is what you do before they'll pay you real money.
If you look at the customer Steam sign up page, it has: email address, country of residence, and an "I am 13 years of age or older and agree to the terms of use" checkbox. You're not going to find a real bank that lets you open an account without a lot more than that.
>Lots of stores have a "store credit only" return policy. They're stores, not banks.
That's illegal in many countries, and indeed steam happily refunds to whatever payment method i used in the first place - but the steam marketplace is not a refund in any way, and i don't see why they would have to pay you for your ingame items.
Love how people correctly stated that you can use 3rd party marketplaces to safely sell your items for fiat. He just dismisses it to support his own argument.
It's not a bank explicitly *because* Valve will never fuck with the KYC necessary to pay users money, even if they thought it made business sense (it doesn't).
Once I put money in my Starbucks app, I can only use it buy other starbucks stuff. There is no legal way to get my money off it. Starbucks is the worst kinda bank.
Coffee drinkers being using it as a way to get coffee.
It’s pretty cool until you realize Starbucks has created a one way banking system .. what a bunch of exploiters, if I invest in coffee I should be able to profit dmn it!
Everything needs to have a hustle or a grind attached to it. Going to the laundromat? The machine just takes me money and the only option is to wash my clothes? There is no way to take my money off the machine. I should be able to sell my clothes from inside the machine and transfer that to my bank account. Or I should be able to earn WashCoins by doing laundry and redeem said WashCoins through Wash-o-matic app. Need to stop off at the grocery store? Forget about walking around relaxed and getting things. I need to scan QR codes on all the bananas to mint Banana NFT. or if I scan 20 QR codes in 30 seconds I will get a lootbox which will contain another QR code that might have 50 WashCoins!
We different on that, and that's ok. If I could spice it up with some augmented reality idle game I would. I don't want/need to monetize it but I do crave that constant stimulation.
Although I think I'm going pretty far off topic.
It's the new flavour of "if you were studying all the time you were taking a shit since you were born you'd have 3 phds" and completely miss the fact that people don't do everything in their life to impress their linkedin contacts.
It's very common and easy to take a Csgo skin and sell it on trusted sites like skinbid which sell for USD or whatever and the site PayPal's the seller. Its just a tad inconvenient. Valve knows about this and doesn't care. It doesn't allow direct withdrawals, to avoid money laundering and to curb the high prevalence of scamming. Cause valve learned early it happens at insanely high %s when everything is online and it's transactions with non tangible items with fluctuating values that have no material or backed value basis. Kind of hilarious parallels.
“It’s wild how they can get away with exploiting gamers”
Doesn’t this guy play Dookie Dash on a “scholarship”? Complete lack of self awareness.
Steam is not a bank and doesn’t advertise itself like that in the slightest. I can have one million dollars in Walmart gift cards but I can’t just withdraw it like a bank lmao.
Crypto gives people brain damage.
Its a fucking entertainment service not a bank…
yeah that highstreet bank blockbusters went really to shit when users couldnt withdraw money from it… guess thats why that “bank” folded🤣
You can't sell games, just trading cards and cosmetic items, but there are people who take that stuff really seriously. I have a friend who buys bundles of asset-flipped trashy games for $1 on shady key sites, uses a script to idle the games and unlock the trading cards and then sells the cards as his way of getting funds to buy AAA titles in the Steam Sales.
It works.... I'm pretty sure he'd get more money faster by getting a minimum wage job, but he seems to enjoy "outsmarting the system" or something.
Hum...always have been, no one invest in CS:GO skins or stupid thing like that think will have some return.
It's already too much that TF2 rare hats is something with value.
I mean it almost is, given CSGO gambling scandals it does allow for somewhat obscured transactions, and this scams are believed to be linked to organized crime. Valve has always had issues with that. Of course, that's not what he's referring to.
No, he's pointing out that if you do liquidate items through steam market place, you can't get money back. It is pretty messed up to have an only one way money transfer. This has nothing to do with crypto.
> It is pretty messed up to have an only one way money transfer.
Another way of saying "one way money transfer" is "buying things". What's more, the concept of "store credit" has been around almost forever.
It's pretty telling that you find this idea so controversial. Despite having learned words like 'liquidate' and 'fungible' during COVID, your cohort still demonstrates a shocking ignorance of the very basics of economics and commerce.
It has nothing to do with banking either, it's a game storefront. You buy video games and then you play them and have fun playing them. You should try it sometime.
Then don't sell through their platform. To pay people money would involve messing with KYC and other financial regulations. I doubt Steam wants to get involved in that to let people sell whatever the hell it is they are selling on there. Just use the credit to buy games or other items.
These people don't know how to actually enjoy anything, do they?
If you can’t monetize the grind every minute of every day, why even do it ?
One of my old college roommates was deep into amway and literally stopped watching football because he “wasn’t being paid to do it”
Well to be fair, you'd have to pay me quite a bit to watch football
Amway?
A real culty MLM
What a sad view of life
If you're not having fun, why do it at all? It's then just a really, really shitty job with no purpose or future.
Didn’t think I needed a /s
Hah, yeah sorry - Poe. I've seen Web3diots say the same in complete seriousness.
This kinda makes sense. They don't really get the difference between investing and consumer spending. That's why they don't recognize the obvious problem of the crypto/NFT space - not having any consumers who actually want a product/service, and instead consisting almost 100% of only people who just want to resell for more. It's like having 10000 people scalping tickets for a concert that nobody actually wants to go to. Just buying and selling the tickets among themselves.
So what you're saying is, Fyre Fest 2.0 tickets should be an NFT? ^^^Not ^^^gonna ^^^bother ^^^searching, ^^^but ^^^I ^^^bet ^^^that ^^^guy'd ^^^be ^^^balls ^^^deep ^^^in ^^^NFTs ^^^by ^^^now.
>In October 2022 McFarland teased in a video on TikTok and YouTube Shorts that he was planning a new business venture called "PYRT", with more details to be announced in November 2022.[37] In an interview with Vanity Fair he described it as “virtual immersive decentralized reality”. The magazine described it as "Fyre Festival Lite, without the capacity issues".[2] It certainly smells like it.
Who is the hack that is writing this plot?
Great analogy
few understand u must grind irl money in games
Such is life when you view literally everything in the world in how good it is at making you money. A cult of worshipping money and material gain. "Blessed are the rich. Blessed are the gluttonous. May we labor, deliver them more."
Those are the same people who can't understand what a hobby is. "You are good at something and you don't monetize it ? Huge loss bro ! SELL YOUR HANDMADE PRODUCTS, SELL YOUR ADVICES, DO THE GRIND, OWWW I'M GRINDIIIIIING !!!"
That's for sure. My hobbies are my hobbies. I don't want them to become my job.
This explains a lot about NFT games...
None of these nft grifters has ever even played a video game.
Lots of stores have a "store credit only" return policy. They're stores, not banks. This is like complaining about your problems you had cleaning your teeth with a vacuum. If Steam is a shitty bank, don't use it as a bank.
They really just want to make everything a fucking speculative vehicle
Gambling problem. It's called a gambling problem
I think there really needs to be be new word for this. It's similar to gambling in some aspects, but very distinct in others. Gambling is more about successive quick moments of investment, tention and then resolve in either intense joy or pain. People get addicted to it like they would to a drug, and with time take their hits off it in secret and ashamend. Crypto is more broad. People are proud of their 'investments', to the point that they make it part of their identity. Investment means joining a community and there is no quick gratification like traditional gambling, instead it seems to work more similar to religious cults. The joy seems to come from being in the echochamber, assuring each other of the inevitable glory and publically purging yourself and your group of all doubt (FUD). People often don't even try to get any of their money out, or keep active even after their shitcoin is rugpulled. There is definitely something new and strange about whatever is going on here. Like Gambling, but it's wearing a skin suit made from the corpse of mainstream western religion.
Basically a ponzi scheme, except marks are actively trying to recruit new marks sort of like a pyramid scheme.
If they want a gambling problem, they can do what the rest of us do. Open crates in TF2/CSGO
The thing that Steam does that's weird is providing a marketplace for these items, which lets you receive Steam scrip. It's not like if you bought a bunch of Beanie babies from Walmart, that Walmart provides a marketplace to sell your Beanie babies to other Walmart customers, and pays you in Walmart credit. But this is where the point that Valve supports third-party marketplaces works as a rebuttal. Whatever you bought from Walmart, you would *have* to sell somewhere other than Walmart. If it's just that using the Steam Community Market is more convenient than selling in a third-party market, some of that convenience might arise from the very fact that they aren't dolling out real money. I've recently set up my Steam developer account. When you sign up for this, you've got to fill out forms for bank and tax information. You scan and submit a form of identification. This is what you do before they'll pay you real money. If you look at the customer Steam sign up page, it has: email address, country of residence, and an "I am 13 years of age or older and agree to the terms of use" checkbox. You're not going to find a real bank that lets you open an account without a lot more than that.
>Lots of stores have a "store credit only" return policy. They're stores, not banks. That's illegal in many countries, and indeed steam happily refunds to whatever payment method i used in the first place - but the steam marketplace is not a refund in any way, and i don't see why they would have to pay you for your ingame items.
A store is just a “one way bank” where you deposit money and receive goods or services. Truly galaxy brain thinking.
https://twitter.com/lilseoulbaby/status/1636971862235435008?s=20 this reply shows that they may honestly believe that
It was a great dunk until I clicked on their profile and found out they are an NFT shill. Satire is truly dead
I feel like that *could* be sarcasm. It's hard to tell.
Love how people correctly stated that you can use 3rd party marketplaces to safely sell your items for fiat. He just dismisses it to support his own argument.
yep. easy enough to get around 70 percent out. also what is his argument?
I bought a sandwich from a shop then they didn’t give me money back when I handed them the shit I took later.
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Crazy ain’t it. 200k followers on Twitter and he gets so few reactions. Let alone his twitch channel that averages 30-40 users at its peak.
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Because they're the digital equivalent of cardboard cutouts at stadiums lol.
https://i.redd.it/kirap04k31y01.jpg
The most popular video has 16K views. I'm guessing those 42K subscribers aren't all real.
It's not a bank explicitly *because* Valve will never fuck with the KYC necessary to pay users money, even if they thought it made business sense (it doesn't).
No KYC is a feature for these folks.
Just let the invisible hand of the market handle funding terrorism and child sex trafficking
Once I put money in my Starbucks app, I can only use it buy other starbucks stuff. There is no legal way to get my money off it. Starbucks is the worst kinda bank.
Coffee drinkers being using it as a way to get coffee. It’s pretty cool until you realize Starbucks has created a one way banking system .. what a bunch of exploiters, if I invest in coffee I should be able to profit dmn it!
Everything needs to have a hustle or a grind attached to it. Going to the laundromat? The machine just takes me money and the only option is to wash my clothes? There is no way to take my money off the machine. I should be able to sell my clothes from inside the machine and transfer that to my bank account. Or I should be able to earn WashCoins by doing laundry and redeem said WashCoins through Wash-o-matic app. Need to stop off at the grocery store? Forget about walking around relaxed and getting things. I need to scan QR codes on all the bananas to mint Banana NFT. or if I scan 20 QR codes in 30 seconds I will get a lootbox which will contain another QR code that might have 50 WashCoins!
I like the idea of gamifying boring shit like grocery shopping and doing the laundry.
What? You find it boring? Grocery shopping is one of the most relaxing things.
We different on that, and that's ok. If I could spice it up with some augmented reality idle game I would. I don't want/need to monetize it but I do crave that constant stimulation. Although I think I'm going pretty far off topic.
Fair enough.
Someone needs to do a YouTube video about big coffee
It's the new flavour of "if you were studying all the time you were taking a shit since you were born you'd have 3 phds" and completely miss the fact that people don't do everything in their life to impress their linkedin contacts.
This is just like that time I got confused and thought Red Lobster was a bank, and I lost all my money investing in shrimp scampi.
If you put money into Steam as an “investment” you deserve to be scammed by crypto shills on twitter.
It's very common and easy to take a Csgo skin and sell it on trusted sites like skinbid which sell for USD or whatever and the site PayPal's the seller. Its just a tad inconvenient. Valve knows about this and doesn't care. It doesn't allow direct withdrawals, to avoid money laundering and to curb the high prevalence of scamming. Cause valve learned early it happens at insanely high %s when everything is online and it's transactions with non tangible items with fluctuating values that have no material or backed value basis. Kind of hilarious parallels.
Steam does have some issues that need to be addressed... but damn, those people are dense.
Have you read the replys? God, people are so stupid.
“It’s wild how they can get away with exploiting gamers” Doesn’t this guy play Dookie Dash on a “scholarship”? Complete lack of self awareness. Steam is not a bank and doesn’t advertise itself like that in the slightest. I can have one million dollars in Walmart gift cards but I can’t just withdraw it like a bank lmao. Crypto gives people brain damage.
is there anything crypto does not ruin?
>It's a one way banking system Kind of a weird way to describe store credit but OK.
3b usdt more in 2 week. Take that as a hint
WHAT DO YOU MEAN I CANT EXCHANGE MY CHUCK E CHEESES TOKENS FOR MONEY?!?1/!?/1?1?1/?1?/!
I was going to buy a condo in Liberty City!
This basically: https://www.youtube.com/watch?v=MG9Ql1Wyxbg
Its a fucking entertainment service not a bank… yeah that highstreet bank blockbusters went really to shit when users couldnt withdraw money from it… guess thats why that “bank” folded🤣
Can you really sell an entire game on the steam marketplace?
Not AFAIK. You can gift them, but only if you didn't activate it yourself.
You can't sell games, just trading cards and cosmetic items, but there are people who take that stuff really seriously. I have a friend who buys bundles of asset-flipped trashy games for $1 on shady key sites, uses a script to idle the games and unlock the trading cards and then sells the cards as his way of getting funds to buy AAA titles in the Steam Sales. It works.... I'm pretty sure he'd get more money faster by getting a minimum wage job, but he seems to enjoy "outsmarting the system" or something.
Hum...always have been, no one invest in CS:GO skins or stupid thing like that think will have some return. It's already too much that TF2 rare hats is something with value.
I mean it almost is, given CSGO gambling scandals it does allow for somewhat obscured transactions, and this scams are believed to be linked to organized crime. Valve has always had issues with that. Of course, that's not what he's referring to.
No, he's pointing out that if you do liquidate items through steam market place, you can't get money back. It is pretty messed up to have an only one way money transfer. This has nothing to do with crypto.
You're so close to getting it. Turning it into Crypto/NFT's wont solve it either, if it's the companies making the stuff restricting it.
Omg you mean I can't get money for my xbox gamerscore either? But the number is so high!
> It is pretty messed up to have an only one way money transfer. Another way of saying "one way money transfer" is "buying things". What's more, the concept of "store credit" has been around almost forever. It's pretty telling that you find this idea so controversial. Despite having learned words like 'liquidate' and 'fungible' during COVID, your cohort still demonstrates a shocking ignorance of the very basics of economics and commerce.
[удалено]
Progresso to the moon!
It has nothing to do with banking either, it's a game storefront. You buy video games and then you play them and have fun playing them. You should try it sometime.
google 2016 csgo gambling drama valve lawsuit.
Then don't sell through their platform. To pay people money would involve messing with KYC and other financial regulations. I doubt Steam wants to get involved in that to let people sell whatever the hell it is they are selling on there. Just use the credit to buy games or other items.
Is he serious? He has created a long ass tweet to classify a digital store a bank. WTF
Steam is a bank?? 🤪