For those that don't know, this is one popular way of laundering money.
The other is real estate (which is how Trump made his comeback from early business failures).
this post was submitted on 21 Nov 2024
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You’re not paying for the original banana (well, you are, but you’ll have to replace it with a banana of your own sourcing every few days), and presumably the duct tape is ordinary as well, and there’s no special secret trick to correctly arranging it, so anyone reading this could perfectly recreate the artwork at home. You’re paying for the receipt certifying you to be the one person who paid for the concept. In other words, it’s like a NFT, only more ecologically sound.
Ethereum, the blockchain that the vast majority of NFTs are based on, switched to proof-of-stake over two years ago. It doesn't use significant amounts of energy any more. So there isn't even the "more ecologically sound" distinction here.
There's still the cost associated with having your transaction stored forever on the blockchain across millions(?) of devices, but it's only a few dozen bytes so the impact isn't much.
Indeed. And there's a future update for Ethereum being worked on to implement a "state expiry" system, which means data wouldn't be stored forever unless you actually paid for it to be. I've been quite impressed with Ethereum's continued development over the years, in contrast to Bitcoin which basically ossified.
Still an NFT though, a insignificant, worthless bit of code pointing to a "thing" you "own"
Yes, so? All I was disputing was the issue of whether they're "ecologically sound." They're fine now, they don't consume massive amounts of energy. Use them or ignore them as you wish.
It says at the end of the article someone took the original banana off the wall and ate it.
do you ever think about how the original paint that Da Vinci used to paint the Last Supper faded away hundreds of years ago?
At this point the money laundering couldn't be more blatant...
How much could one banana cost, Michael? 6 million dollars?
Saved you a click: This news article was indeed from Nov 20, 2024
Great example that shows that some people clearly just have too much money.
My banana is for sale as well. I'll throw in a whole roll of duct tape.