Josh: 00:00:01

The following podcast contains adult language and

Josh: 00:00:03

content, not suitable for children.

Sean: 00:00:05

Some topics may contain graphic details.

Sean: 00:00:08

So a general trigger warning is in place.

Sean: 00:00:10

We appreciate

John: 00:00:11

you being here.

John: 00:00:11

So please

Sean: 00:00:12

enjoy the show.

Sean: 00:00:24

No anxiety.

Sean: 00:00:24

2022.

Sean: 00:00:25

It's a new me, baby.

Sean: 00:00:28

That's the backward.

Sean: 00:00:28

Keeping that in.

Sean: 00:00:29

I'm starting confident.

Sean: 00:00:30

20, 22 news.

Sean: 00:00:32

Sean.

Sean: 00:00:33

What's up WCA maniacs.

Sean: 00:00:34

Who cares?

Sean: 00:00:35

It doesn't matter.

Sean: 00:00:35

I'm up.

Sean: 00:00:37

You better believe it from here.

Sean: 00:00:38

It's downhill.

Sean: 00:00:39

Fuck me.

Sean: 00:00:39

I lost all confidence already from the start.

Sean: 00:00:42

Welcome wicked maniacs.

Sean: 00:00:43

It's 2022.

Sean: 00:00:45

It's your boy, Sean hosting for the first time this year.

Sean: 00:00:48

God, my, uh, two friends and or bullies with me.

Sean: 00:00:51

Josh.

Sean: 00:00:52

John, what is up?

Sean: 00:00:54

My dude's bullets.

Josh: 00:00:57

Yeah, we're not bullies, but

Sean: 00:01:01

questionable bullies.

Sean: 00:01:02

We're going to move on.

Sean: 00:01:03

Maniacs gets bullied.

Sean: 00:01:07

There is true.

Sean: 00:01:08

There it is.

Sean: 00:01:09

There it is.

Sean: 00:01:09

The truth has been revealed.

Sean: 00:01:11

Yeah.

Sean: 00:01:12

Wicked maniacs.

Sean: 00:01:13

Welcome to another episode of a Reddit on Wiki, where we researched

Sean: 00:01:17

things using Wikipedia and Reddit as our primary sources of research.

Sean: 00:01:22

Yes.

Sean: 00:01:23

I said research using research.

Sean: 00:01:24

It doesn't matter.

Sean: 00:01:25

We're moving forward.

Sean: 00:01:26

We're moving past it.

Sean: 00:01:30

Shawn, a

Josh: 00:01:34

new year old shot, new year's

Sean: 00:01:37

same me, I guess, as you

Josh: 00:01:40

guys know.

Josh: 00:01:41

Maybe season three,

Sean: 00:01:43

if season two ever ends, if season one ever ends, who really

Sean: 00:01:47

fucking knows at this point, but as you guys know, uh, it's your boy, Sean,

Sean: 00:01:53

I don't do scripts all off the dome.

Sean: 00:01:56

We're going to start the first half in Wikipedia.

Sean: 00:01:59

Then we're going to go to ad break.

Sean: 00:02:00

So you guys can pay us and rate us five stars, and then we're

Sean: 00:02:03

going to go to the Reddit section.

Sean: 00:02:06

All right.

Sean: 00:02:07

So starting off hot today's topic and F teas.

Sean: 00:02:13

So not just what are NFTs, but uh, what are the problems with

Sean: 00:02:18

NFTs and why they're problematic.

Sean: 00:02:20

If you want to know a detailed explanation into what NFTs are

Sean: 00:02:25

a fun fact, you can go back to.

Sean: 00:02:28

The season two finale of shots and thoughts, the live Twitch episode, where

Sean: 00:02:32

I took 13 to 14 shots of straight liquor.

Sean: 00:02:35

Uh, so I don't know how detailed that is of an explanation

Sean: 00:02:39

to be quite honest with you.

Sean: 00:02:40

But, um, I think we got the point across, so you can go listen to that, but, uh,

Sean: 00:02:46

John Josh, 2021 was the you of the NFT.

Sean: 00:02:51

What do you guys know about it?

Josh: 00:02:54

Uh, does NFT mean no further

Sean: 00:02:58

texts?

Sean: 00:02:59

Definitely not, definitely not.

Sean: 00:03:02

Is Jansport in hand

John: 00:03:04

or tall face?

Sean: 00:03:08

Definitely not.

Josh: 00:03:12

Uh, I think it stands for non fungible tokens.

Sean: 00:03:17

That is

Josh: 00:03:18

correct.

Josh: 00:03:18

Josh.

Josh: 00:03:19

That is correct.

Josh: 00:03:20

Yes.

Josh: 00:03:22

I'm a finance

Sean: 00:03:23

bro.

Sean: 00:03:24

Wow, nice.

Sean: 00:03:26

I frequently visit a Reddit R slash uh,

Josh: 00:03:29

stocks.

Josh: 00:03:30

Finances.

Josh: 00:03:31

I have lost millions this year.

Sean: 00:03:34

I Claire.

Sean: 00:03:40

That's right.

Sean: 00:03:41

Josh, an NFT is a non fungible token.

Sean: 00:03:45

Does that mean anything to either of y'all what the fuck is fungible?

Sean: 00:03:51

I'm going to get into that

Josh: 00:03:52

fun guy, like, like a mushroom.

Josh: 00:03:54

Is

Sean: 00:03:54

it a mushroom?

Sean: 00:03:56

But there are no, I mean, there could be mushrooms involved in a NFT, but not

Sean: 00:04:01

specifically in the, uh, definition.

Sean: 00:04:05

So.

Sean: 00:04:06

I should probably just hop straight into it.

Sean: 00:04:08

Huh?

Sean: 00:04:09

Oh wait, wait, wait, wait.

Sean: 00:04:10

Before we do that, we got to do the housekeeping stuff.

Sean: 00:04:12

I never do that, but 20, 22, it's a new me.

Sean: 00:04:15

Housekeeping.

Sean: 00:04:16

Here we go.

Sean: 00:04:17

What's your housekeeping on, uh, the fucking house, you know, um, guys, before

Sean: 00:04:24

we get started, if you want to go ahead and give us a five star review, you

Sean: 00:04:28

could do that, uh, through Spotify, good pods, pod, chase, or apple podcasts,

Sean: 00:04:34

all of that shit and our website too.

Sean: 00:04:37

I figured that out, you could do that on our website.

Sean: 00:04:39

So if you haven't done that already, go ahead and do that.

Sean: 00:04:42

Uh, they could, they could

Josh: 00:04:44

also give us four, three stars.

Josh: 00:04:46

I don't

Sean: 00:04:46

care.

Sean: 00:04:46

Don't do that.

Sean: 00:04:47

That's fine.

Sean: 00:04:48

But if you do that, you are a contract truly obligated to, uh,

Sean: 00:04:52

pay for the $10 tier on our Patrion.

Sean: 00:04:54

So rate wisely,

Josh: 00:04:58

we will find you,

Sean: 00:04:59

we will find you and we will take.

Josh: 00:05:03

And moving honorable

Sean: 00:05:04

fungible tokens and your fucking fungible tokens.

Sean: 00:05:07

They are mine now.

Sean: 00:05:10

All right.

Sean: 00:05:10

So let's get into a brief description into what an NMT is, and then I'll

Sean: 00:05:15

go into the problems with the NFTs.

Sean: 00:05:19

Okay.

Sean: 00:05:20

So you guys are coming into this blind.

Sean: 00:05:22

Y'all know nothing about NFTs.

Josh: 00:05:24

Yeah.

Josh: 00:05:24

I don't have 2020 vision.

Sean: 00:05:26

Ah, okay.

Sean: 00:05:29

I got you.

Sean: 00:05:29

I got you.

Sean: 00:05:30

It took me a while.

Sean: 00:05:31

Took me a while.

Sean: 00:05:32

Right, right, right, right, right.

Sean: 00:05:34

Okay.

Sean: 00:05:35

So an NFT or a non fungible token is a unique and non interchangeable

Sean: 00:05:41

unit of data stored on a blockchain, which is a form of digital ledger.

Sean: 00:05:48

And if Ts can be associated with reproducible digital files,

Sean: 00:05:52

such as photos, videos, and.

Sean: 00:05:56

And FTS use a digital ledger to provide a public certificate of authenticity,

Sean: 00:06:01

authenticity, or proof of ownership, but do not restrict the sharing or

Sean: 00:06:07

copying of the underlying digital files.

Sean: 00:06:11

The lack of interchangeability, uh, parentheses fungibility distinguishes NFTs

Sean: 00:06:18

from blockchain cryptocurrencies, such as Bitcoin and MTS have drawn criticism

Sean: 00:06:23

with respect to the energy cost and carbon footprint associated with validating

Sean: 00:06:28

blockchain transactions, as well as their frequent use in art scams, further

Sean: 00:06:34

criticisms challenged the usefulness of establishing proof of ownership and an

Sean: 00:06:39

often extra legal unregulated market.

Sean: 00:06:43

So does that make sense to you guys at all?

Sean: 00:06:46

If not, I kind of can explain it.

Josh: 00:06:49

Okay.

Josh: 00:06:50

Let me take it a dumb way.

Josh: 00:06:53

So.

Josh: 00:06:55

NFTs are a digital product of some sort that you can trade back and

Josh: 00:07:03

forth and they're worth of value.

Josh: 00:07:06

And when you do that, you basically write it in a ledger saying

Josh: 00:07:10

that this person now owns this.

Josh: 00:07:14

Is that kind of what?

Josh: 00:07:15

Like a digital ledger, I guess, pretty close.

Sean: 00:07:18

John, what

John: 00:07:19

did you, but did it say that you can share it?

Sean: 00:07:24

So here, here in lies, one of the, and I'll get more into it

Sean: 00:07:28

when I read more of the Wikipedia, but essentially what NFT is, is

Sean: 00:07:33

imagine, uh, you make an NFT, right?

Sean: 00:07:37

And you make a, an, a digital painting and we'll say that's an NFT currently.

Sean: 00:07:42

That is worth nothing.

Sean: 00:07:44

It's just a piece of art it's worth it's worth.

Josh: 00:07:48

Okay.

Sean: 00:07:49

It's okay.

Sean: 00:07:49

You want your makeup?

Sean: 00:07:50

You make a beautiful piece of art.

Josh: 00:07:52

Can we each do a digital art and post

Sean: 00:07:55

it?

Sean: 00:07:55

It's going to be a Dick.

Sean: 00:07:57

Goddammit.

Sean: 00:07:58

Oh, join us for our Patrion.

Sean: 00:08:00

When we play a Jackbox games and draw nothing but dicks on those gal.

Sean: 00:08:04

Yeah.

Sean: 00:08:04

I'll be alone.

Sean: 00:08:05

But uh, so say we make a painting, right.

Sean: 00:08:09

And that we make an NFT of a digital drawing.

Sean: 00:08:12

And then, uh, somebody is like, oh, I like this piece of art.

Sean: 00:08:16

That's worth $10.

Sean: 00:08:18

And then now everybody knows, oh, that piece of art is worth

Sean: 00:08:21

$10 and then it can go up.

Sean: 00:08:22

It could go down essentially, blah, blah, blah.

Sean: 00:08:25

Kind of like a, I know John hates sneakers.

Sean: 00:08:27

I don't know your stance on Josh, but like a pair of sneakers, like pair of

Sean: 00:08:31

Jordans or we'll, we'll go Kanye west.

Sean: 00:08:34

That's that's probably the most crazy ones.

Sean: 00:08:37

Yeezys.

Sean: 00:08:38

They retail for two 20.

Sean: 00:08:40

That shoe is worth $220.

Sean: 00:08:42

But the hype and the demand for it and people buying it and selling it, there,

Sean: 00:08:47

there, the resell value, which is the actual value, or depending on the UC

Sean: 00:08:52

will go for, let's say like a thousand dollars, holy shit, something like that.

Sean: 00:08:58

But

John: 00:08:58

that's a physical product.

Sean: 00:08:59

That's a physical product.

Sean: 00:09:01

This is, this is what makes it even dumber than buying Yeezy's.

Sean: 00:09:05

This is a, this is a digital product.

Sean: 00:09:08

Now you can just fucking screenshot, right?

Sean: 00:09:12

So really technically when you screenshot it, you don't own it, but

Sean: 00:09:18

the NFT is not even really the picture.

Sean: 00:09:21

It's just proof that you own the picture that can be copied by anybody else.

Sean: 00:09:29

So really, I don't understand.

Sean: 00:09:32

Yeah, that that's why, uh, what fungible means financial finance bro

Sean: 00:09:37

wise, is that a Bitcoin, every Bitcoin is fungible because every Bitcoin can

Sean: 00:09:44

be interchanged with another Bitcoin.

Sean: 00:09:46

All Bitcoins are created equal, right.

Sean: 00:09:48

And FTS are non fungible because one NFT does not equal another hen Ft.

Sean: 00:09:54

Oh, okay.

John: 00:09:54

So me coming in and like listening to that finale that you

John: 00:09:58

guys did on end up back in season two, I was actually on that live one.

John: 00:10:03

You guys were opening up NBA top shot.

John: 00:10:05

Yes.

John: 00:10:06

Right.

John: 00:10:07

And I.

John: 00:10:09

Even though I listened to that.

John: 00:10:10

I still couldn't wrap my head around it.

John: 00:10:12

It was pretty much opening basketball, like virtual basketball packs of NBA

John: 00:10:18

moments where it's an essentially a fucking YouTube clip of a moment.

John: 00:10:22

Exactly.

John: 00:10:22

Right.

John: 00:10:23

And it's like $500 for let's say, I don't know.

John: 00:10:26

I bet you, if Steph Curry had the, you know, when he broke the three-pointer

Sean: 00:10:29

record.

Sean: 00:10:30

Oh, you got to believe that's a top shot right now.

Sean: 00:10:32

Right?

John: 00:10:33

That's probably like worth,

Sean: 00:10:34

I don't know, maybe millions or the.

Sean: 00:10:38

Yeah,

John: 00:10:39

yeah.

John: 00:10:39

For an essentially like something that you can clip on YouTube and then just

John: 00:10:42

put on a nice little canvas fucking

Sean: 00:10:44

background.

Sean: 00:10:46

Exactly.

Sean: 00:10:47

Is that what it is?

Sean: 00:10:48

That what an NMT is like an NFT.

Sean: 00:10:49

So an NBA top shot, that is a version of an NFT, right?

Sean: 00:10:54

So you buy like a pack of these top shot things and then you open up a pack and

Sean: 00:11:00

then it, it comes out looking like a playing card, but then it's like a cube.

Sean: 00:11:04

And then the key rotates to the description of the stat.

Sean: 00:11:07

It showcases like a logo for the type of pack.

Sean: 00:11:10

And then the other side of the cube will be like the clip of the play.

Sean: 00:11:14

And that's what you, that's the NFT.

Sean: 00:11:16

But really the, the main thing is the clip of the play.

Sean: 00:11:19

And the clip of the play is fucking, you can find that shit on YouTube.

Sean: 00:11:23

You can.

Sean: 00:11:23

Yeah, you can.

Sean: 00:11:24

So really,

Josh: 00:11:27

so this is kind of gray in the area between ownership in like the modern day,

Josh: 00:11:34

like the digital world, you know, what.

Josh: 00:11:36

So this is something that actually like, um, I have a few photographer friends and

Josh: 00:11:41

they have this issue when they like put their photos up on a website to sell it.

Josh: 00:11:48

Yup.

Josh: 00:11:48

Um, they own that, but there's nothing, there's not stopping anything

Josh: 00:11:53

from someone just screenshotting that image and then repurposing

Josh: 00:11:56

that for whatever they want now.

Josh: 00:12:00

So there gets the gray area of, do you really own yours shit, right.

Josh: 00:12:06

Or can someone just take it, upload it somewhere out like this podcast,

Josh: 00:12:11

someone could just take this podcast, throw it up on a YouTube channel.

Josh: 00:12:15

I don't know, but like they could do that.

Josh: 00:12:17

Right.

Josh: 00:12:18

But, um, but they got for nothing and it's like, where does, where does proof

Josh: 00:12:25

of ownership and, and when does it begin?

Josh: 00:12:29

Like, it's a very.

Josh: 00:12:30

It's kind of getting into full-on philosophical question.

Sean: 00:12:34

The internet is still very much like the fucking wild west.

Sean: 00:12:37

There are no rules for better or for worse.

Sean: 00:12:41

Yeah.

Sean: 00:12:41

Correct.

Sean: 00:12:41

Could I ask

John: 00:12:42

a follow-up question with what Josh said?

John: 00:12:44

Yeah.

John: 00:12:45

So for example, like going on with the NBA top shot thing again, you know, those

John: 00:12:50

clips are owned by the NBA, correct?

John: 00:12:53

Yes.

John: 00:12:53

Yep.

John: 00:12:53

By you buying the NMT, do you now have owner rights to that specific clip?

Sean: 00:13:00

See, I don't think so because you're not going to get, you're not, you're

Sean: 00:13:06

not going to get paid for every time.

Sean: 00:13:07

They, this is what we thought originally like, oh shit.

Sean: 00:13:09

Do you get paid every time?

Sean: 00:13:11

Like you get like a YouTube play.

Sean: 00:13:13

Like if they play that clip on YouTube, do you get paid?

Sean: 00:13:15

No, I think your name is just on this YouTube description as owning

Sean: 00:13:20

the clip, but you don't like it, but again, since it's so easily

Sean: 00:13:24

replaceable, you don't own the clip.

Sean: 00:13:26

You just have you own the receipt to the.

Josh: 00:13:30

Right.

Josh: 00:13:31

So you just, that's weird.

Sean: 00:13:35

So it's like, why is that?

Sean: 00:13:36

The NFT is just, today's fucking hype beast for sneakers or clothing

Sean: 00:13:44

or anything, but it's not physical.

Sean: 00:13:46

So which makes it sort of worse because at least I have

Sean: 00:13:50

my stupid ass pairs of Yeezys.

Sean: 00:13:51

I can hold them.

Sean: 00:13:52

I can hold them, wear them.

Sean: 00:13:54

You can't copy and paste these.

Sean: 00:13:55

You can buy another pair, but you know what I mean?

Josh: 00:13:59

Yeah.

Josh: 00:13:59

I guess I could put them on and

Sean: 00:14:01

then you could put them on me and you can run away.

Sean: 00:14:04

I mean, I wear all my, I wear all my shoes.

Sean: 00:14:06

I'm not like the sneaker heads, though.

Sean: 00:14:08

If that makes you feel better about my stupid spending habits,

Sean: 00:14:11

I want to fund you my tokens, man.

Sean: 00:14:16

You want, but then we'll get later into this.

Sean: 00:14:18

If you make a fungible token, then you know, it's going to be a one for

Sean: 00:14:23

one, most NFTs are made by artists thinking they could make money,

Sean: 00:14:26

but then surprise you not really.

Sean: 00:14:30

Okay,

Josh: 00:14:31

so fall, fall a few follow up questions.

Josh: 00:14:34

Um, so if you own that clip, that Steph Curry, three point

Josh: 00:14:39

shot, you own a clip like that.

Josh: 00:14:41

You buy a bunch and then you get a bunch of Steph Curry, three point shots.

Josh: 00:14:45

Could you then upload that on YouTube as a montage and not get

Josh: 00:14:50

claimed because you technically own

Sean: 00:14:53

those clips.

Sean: 00:14:54

I guess if he's green record, the top shot and like go through all of your

Sean: 00:14:58

top shot cards, who's to say, you know, that's, that's not fine illegal.

Sean: 00:15:04

Cause he owned those.

Josh: 00:15:05

You own those clips,

Sean: 00:15:06

right?

Sean: 00:15:07

Technically speaking.

Sean: 00:15:08

Yes.

Sean: 00:15:09

But now the only way we could do this is if we go right now, buy an NBA top shot.

Sean: 00:15:15

And if I can upload that shit to you,

Josh: 00:15:17

I think this might be a test.

Josh: 00:15:18

We're going to try this.

Josh: 00:15:19

I think now

Sean: 00:15:20

technically still has his and he was like, I really should've sold that.

Sean: 00:15:23

Oh my God, there's a lamp on this desk.

Sean: 00:15:26

I accidentally turned it off and I don't know how to turn.

Sean: 00:15:29

Oh, just kidding.

Sean: 00:15:30

Okay.

Sean: 00:15:30

But Ryan was like, I should've sold that fucking NBA top shop, like then.

Sean: 00:15:35

Cause it was hot then.

Sean: 00:15:37

Cause it, yeah, it was the peak.

Sean: 00:15:39

It was the absolute peak.

Sean: 00:15:40

And it was Tyler Herro.

Sean: 00:15:42

Who is uh, who was in the finals at the time.

Sean: 00:15:45

Was that, was that 20, 20?

Sean: 00:15:48

Oh my God.

Sean: 00:15:49

Jesus Christ.

Sean: 00:15:50

Season two was a long time ago.

Josh: 00:15:53

Um, fuck.

Josh: 00:15:55

I was gonna ask something else.

Sean: 00:15:57

No, that was 20, 21.

John: 00:15:58

No, 2020 was the finals with the heat and the Lakers.

John: 00:16:02

That was July 20, 20.

Sean: 00:16:05

Oh.

Sean: 00:16:05

But when we opened the top shot, Tyler Herro was still popping I guess.

Sean: 00:16:10

Cause that was definitely this year.

Sean: 00:16:11

Cause that's, that's what I, I had already met you John.

Sean: 00:16:14

I didn't, I didn't really meet you until December 20, 20.

Sean: 00:16:21

Oh we had, I was this year.

Sean: 00:16:22

Yeah, because we were nominated for all those awards.

Sean: 00:16:25

Oh, that's right.

Sean: 00:16:25

Oh, that one was like March dude.

Sean: 00:16:27

Yeah.

Sean: 00:16:28

And then we also lost all those awards together.

Sean: 00:16:30

6, 6, 6, 6, 8, whatever, whatever.

Sean: 00:16:34

So you didn't give you getting nominated

John: 00:16:38

God

Josh: 00:16:38

dammit.

Josh: 00:16:39

Does Caucasian not

Sean: 00:16:40

care?

Sean: 00:16:41

No, you have enough

Josh: 00:16:42

Josh.

Josh: 00:16:43

You're right.

Josh: 00:16:44

You're right.

Josh: 00:16:45

We just talked about this last episode.

Sean: 00:16:48

Okay.

Sean: 00:16:48

So now that we, any more questions before we go into the Wikipedia

Sean: 00:16:53

of why they are initiating?

Josh: 00:16:54

Oh, I guess my L my last comment was, I guess it's just kind of the new,

Josh: 00:16:59

uh, like you said, I guess Yeezy's, but it's just the stock market over again.

Josh: 00:17:03

You're hoping things go up and, you know, the, the demand will judge, whether it's

Josh: 00:17:11

worth more or worth less, and it's more of a gamble than actually owning something.

Josh: 00:17:15

I guess that's the whole concept.

Sean: 00:17:17

Exactly.

Sean: 00:17:18

NBA top shot felt exactly like stocks.

Sean: 00:17:20

Cause you were like.

Sean: 00:17:21

Like any kind of market news, you know, a card at that time, a card

Sean: 00:17:26

could fucking boost up in value.

Sean: 00:17:29

Like you could have one game.

Sean: 00:17:30

Yeah.

Sean: 00:17:30

You could have a fucking card.

Sean: 00:17:33

If some shitty player hits, it was worth nothing.

Sean: 00:17:36

But then that shitty player breaks some kind of like weird record, some kind

Sean: 00:17:39

of statistical record boom up in value.

Sean: 00:17:42

And then you spec out and you make money back in GameStop.

Josh: 00:17:46

So it was just stocks basically.

Josh: 00:17:47

Yeah, it is stocks.

Sean: 00:17:48

Okay.

Sean: 00:17:49

Yeah.

Sean: 00:17:49

But like kind of fake stocks is real money.

Sean: 00:17:55

Fake stocks.

Josh: 00:17:56

Yeah, I got ya, I guess.

Sean: 00:17:58

Okay.

Sean: 00:17:59

So here are the issues and criticisms as listed on the NFT

Sean: 00:18:03

fungible or the NFT Wikipedia page.

Sean: 00:18:07

Okay.

Sean: 00:18:08

Issue number one, storage off-chain and FTS involving digital art generally do

Sean: 00:18:15

not store the file on the blockchain due to its size, the token functions

Sean: 00:18:21

in a way more similar to a certificate certificate of ownership with a web

Sean: 00:18:26

address pointing to the piece of art.

Sean: 00:18:28

In question, making the art still subject to link rot, because NFTs are functionally

Sean: 00:18:34

separate from the underlying artworks.

Sean: 00:18:37

Anybody can easily save a copy of an NFTs image, popular popularly through a

Sean: 00:18:43

right-click NFT supporters, disparaged the di this duplication of NMT artwork as

Sean: 00:18:49

quote right clicker mentality, and quote with one collector, comparing the value of

Sean: 00:18:54

a purchased NFT to that of a status symbol quote, to show off that they can afford

Sean: 00:19:00

to pay that much and quote the right.

Sean: 00:19:04

Quick, the white quicker mentality, the right click on the white

Josh: 00:19:08

clicker.

Josh: 00:19:09

I see what this is going shopping.

Sean: 00:19:12

I'm a, I'm coming back at you for the, uh, all the

Sean: 00:19:15

Neander tall descriptions.

Josh: 00:19:17

You know what I think we're deserving

Sean: 00:19:21

the ride clicker mentality phase spread via virally through

Sean: 00:19:26

its introduction, particularly among those who are critical of the

Sean: 00:19:29

NFT marketplace, who used the term to flaunt, the ability to capture

Sean: 00:19:33

digital art backed by NFTs with ease.

Sean: 00:19:37

This criticism was prompted by Australian programmer, Jeffrey

Sean: 00:19:41

Huntley, who created the quote NMT bay and quote modeled after the pocket.

Sean: 00:19:48

Pirate bay website, uh, the NFTE bay advertised a torrent file

Sean: 00:19:53

purported to contain 19 terabytes of digital art NFT images only

Sean: 00:19:59

compared his work to an art project from Pauline pants down, crazy name.

Sean: 00:20:05

And, and I hope that the site would help educate users on what NFTs are and are not

Sean: 00:20:13

face up pants down, Pauline pants down.

Sean: 00:20:17

That's nice.

Sean: 00:20:17

I hope that's real.

Sean: 00:20:18

That's fucking awesome.

Sean: 00:20:19

Okay, so that's concern.

Sean: 00:20:21

Number one, concern.

Sean: 00:20:23

Number two are the environmental concerns.

Sean: 00:20:27

So NMT purchases and sales are in meshed in a controversy regarding

Sean: 00:20:31

high energy usage and the consequent greenhouse gas emissions associated

Sean: 00:20:37

with blockchain transactions.

Sean: 00:20:40

A major aspect of this is the proof of work protocol required to regulate

Sean: 00:20:44

and verify blockchain transactions on networks, such as Ethereum, which

Sean: 00:20:49

consumes a large amount of electricity estimating the carbon footprint of a given

Sean: 00:20:55

NFT transaction involves a variety of assumptions about the manner in which the

Sean: 00:21:00

transaction is set up on the blockchain, the economic behavior of blockchain

Sean: 00:21:05

miners, as well as the amount of renewable energy used on these networks.

Sean: 00:21:11

I'm not going to lie to you guys.

Sean: 00:21:12

That was like a five line run-on sentence, Wikipedia.

Sean: 00:21:16

Be crazy like that.

Josh: 00:21:18

Yeah.

Josh: 00:21:18

I, this, this I do know about because, and this gets into a

Josh: 00:21:24

longer story of why hate Elon Musk.

Sean: 00:21:26

Let it, let it go.

Sean: 00:21:27

Baby long story,

Josh: 00:21:28

basically, uh, at the beginning of this year, when GameStop was

Josh: 00:21:31

popping off, you know, everyone's talking finances, you get interested

Josh: 00:21:35

because it's on every goddamn podcasts.

Josh: 00:21:36

Every God damn YouTube channel your wife.

Josh: 00:21:39

And so I'm like, oh,

Sean: 00:21:40

some people might buy at the absolute peak and

Sean: 00:21:42

still hold it to this day.

Sean: 00:21:44

But continue,

Josh: 00:21:45

who

Sean: 00:21:45

would do that?

Sean: 00:21:46

Definitely not of Neanderthal.

Josh: 00:21:51

Uh, um, so

Sean: 00:21:54

you Griff dude, and they're tall advice.

Sean: 00:21:58

No one would listen.

Sean: 00:21:59

Why would anyone

Josh: 00:22:02

finance?

John: 00:22:03

I was gonna say, call NMT, meander tall finance

Sean: 00:22:06

talks.

Sean: 00:22:06

Ooh.

Sean: 00:22:10

Now I can buy at peak, sell it.

Josh: 00:22:15

We talked about it.

Josh: 00:22:16

They weren't dumb.

Sean: 00:22:20

There'd be socially awkward, which would make them not very good at

Josh: 00:22:24

no, that'd be great at, uh, being in their mom's basement buying stocks.

Josh: 00:22:30

Um, so, so yeah, so I looked into Bitcoin and Ethereum because I was

Josh: 00:22:34

like, oh, like these are going up.

Josh: 00:22:36

They've been going up.

Josh: 00:22:37

Years now.

Josh: 00:22:39

Um, yeah, I'll buy a couple and, or not, not a couple of

Josh: 00:22:42

Bitcoin, but you know what I mean?

Josh: 00:22:43

Like fucking rich 0.0 0, 0 1, 3% or whatever it was.

Josh: 00:22:51

Um, and, uh, just see where it goes.

Josh: 00:22:54

And then, so I buy that in like April, so I hold onto it.

Josh: 00:23:02

It's going up.

Josh: 00:23:03

I make probably a couple dollars and then Ilan tweets that they will no

Josh: 00:23:10

longer be taking Bitcoin, uh, as, as, uh, like forms of money because

Josh: 00:23:18

of the environmental impact and Bitcoin stocks plummeted, vomited.

Josh: 00:23:24

And I lost a huge amount of money.

Josh: 00:23:27

I didn't put a ton in, right off the bat, but like, it was enough to be

Josh: 00:23:31

like, well, I'm never doing this again.

Sean: 00:23:34

I was.

Sean: 00:23:35

Yeah, mid to late 2020.

Sean: 00:23:38

I was, I was doing stocks to not great at it.

Sean: 00:23:41

You know, cause day trading during a job is ill advise ill advise,

Sean: 00:23:46

guys don't do it during work.

Sean: 00:23:48

You will miss something and then lose a lot.

Sean: 00:23:53

But, uh, yeah, it it's insane how much power Elon Musk has on the market.

Sean: 00:23:58

He will say, he will say, uh, I think he tweeted exactly this one time.

Sean: 00:24:04

I think he said Tesla stock is way too high.

Sean: 00:24:08

Then it fucking plummeted.

Sean: 00:24:10

Everybody that bought Tesla stock was owned.

Sean: 00:24:12

And guess who was also a part of that man of tall baby?

John: 00:24:18

I think I only bought like stocks, like a few times.

John: 00:24:21

I was just like, you know, I'm going buy a doge coins as a joke.

John: 00:24:23

I put in like 50 bucks and I'm to this day, I'm like, oh, I still

John: 00:24:27

have like, you know, $700 left on.

Sean: 00:24:30

Oh shit.

Sean: 00:24:32

Yeah.

Sean: 00:24:33

Put in $50 and you made 700.

Sean: 00:24:36

Yeah.

Sean: 00:24:37

Jesus.

Sean: 00:24:37

You're better than Sean who doing a way better than me.

Sean: 00:24:39

Way more interesting how Patrick was.

Sean: 00:24:41

Whiling out.

Sean: 00:24:43

Damn.

Sean: 00:24:44

I have a lot of friends.

Sean: 00:24:45

I don't know if they want to be named for doing well in the stock.

Sean: 00:24:49

Cause he know.

Sean: 00:24:49

And when you do well, people ask you questions and shit, you know, advice.

Sean: 00:24:54

And they don't want to be hassled, but I had a lot of friends that came

Sean: 00:24:56

up big and like quit their jobs.

Sean: 00:24:59

Oh shit.

Sean: 00:25:00

2020 was the absolute wildest time to fucking be

Josh: 00:25:05

in there.

Josh: 00:25:05

Meanwhile, we all started a podcast.

Josh: 00:25:07

Yeah.

Josh: 00:25:08

Yeah.

Sean: 00:25:09

I'm begging for $10 patrons saying I'll do anything on a video.

Sean: 00:25:12

So that's where I'm at right now.

Josh: 00:25:14

We won't let Sean handle the money.

Josh: 00:25:16

So

Sean: 00:25:19

Ilan said, Tesla's going up, baby.

Sean: 00:25:22

We just need Ilan to tweet about us one time.

Sean: 00:25:25

Fuck Ilan, man.

Josh: 00:25:26

That's what I started.

Josh: 00:25:27

Hating him.

John: 00:25:29

Sell it, man.

John: 00:25:29

You gotta sell it.

John: 00:25:31

Nah,

Josh: 00:25:31

man, he listened.

Josh: 00:25:33

He controls way too much power and he's just like a fucking four year old.

Sean: 00:25:37

Yeah, he has way too much power.

Sean: 00:25:38

It's insane.

Sean: 00:25:39

It's like comical, like, and I've lost.

Sean: 00:25:42

I haven't lost a ton of money cause I never put in a 10.

Sean: 00:25:44

Right.

Sean: 00:25:45

AKA scared money don't make money.

Sean: 00:25:46

But, but the few times I did get hit.

Sean: 00:25:49

I was like, oh, cause I was up in Tesla quite a bit.

Sean: 00:25:53

And then he said, LOL, Tesla's stock too high now.

Sean: 00:25:57

It's huge

Josh: 00:25:57

again.

Josh: 00:25:59

Yeah.

Josh: 00:25:59

It's huge.

Josh: 00:25:59

I'm still in that bitch, man.

Sean: 00:26:03

Never.

Sean: 00:26:04

I'm a Disney too.

Sean: 00:26:04

And that was cheap.

Josh: 00:26:06

So I do have an ethical dilemma with your climate change.

Josh: 00:26:10

Cause like when I bought it, I.

Josh: 00:26:12

I had heard about the, you know, uh, climate change

Josh: 00:26:15

concerns and stuff like that.

Josh: 00:26:17

Like, um, it is an issue.

Josh: 00:26:19

And I think, you know, I think maybe not Bitcoin, but doge coin and

Josh: 00:26:24

others are going to be here to stay.

Josh: 00:26:25

So it's like, how do you make those, you know, uh, yeah, ethical and good

Josh: 00:26:30

for the environment going forward.

Josh: 00:26:32

So I think that's something we should definitely consider going forward,

Sean: 00:26:39

for sure.

Sean: 00:26:40

So, um, to finish out the environmental concerns, uh, there are, like we were

Sean: 00:26:45

talking about, there are conceptual questions such as whether the carbon

Sean: 00:26:49

footprint estimate for an NFT purchase should incorporate some portion of

Sean: 00:26:53

the ongoing energy demand of the underlying network or just the marginal

Sean: 00:26:58

impact of that particular purchase.

Sean: 00:27:00

An analogy that's been described for this is the footprint associated with an

Sean: 00:27:04

additional passenger on any given airline.

Sean: 00:27:08

Some of, uh, some more recent NFT technologies use alternative

Sean: 00:27:13

validation protocols, such as proof of stake that have much less energy

Sean: 00:27:18

usage for a given validation cycle.

Sean: 00:27:20

Other approaches to reducing electricity include the use of off-chain transactions.

Sean: 00:27:25

As part of the minting of an NFT.

Sean: 00:27:28

A number of NMT art sites are also looking to address these concerns and some are

Sean: 00:27:33

moving to using technologies and protocols with lower associated footprints.

Sean: 00:27:38

Others now allow the option of buying carbon offsets when making

Sean: 00:27:43

NFT purchases, although the environmental benefits of these have

Sean: 00:27:46

been questioned in some instances.

Sean: 00:27:50

And if artists have decided against selling some of their own work to

Sean: 00:27:54

limit carbon emission contributions.

Josh: 00:27:58

All right, well hopefully it's going more environmentally

Josh: 00:28:02

friendly by the sounds of it.

Josh: 00:28:04

Yeah.

Josh: 00:28:06

Are we going to get into the scams?

Sean: 00:28:08

We are definitely the last, the last two sections are artists and

Sean: 00:28:12

buyer fees and plagiarism and fraud.

Sean: 00:28:17

All right.

Sean: 00:28:17

So let's hop straight into those.

Josh: 00:28:20

These might not even be the scams I'm talking about, but they might not

Josh: 00:28:22

be, well, we'll go, we'll get into yours.

Sean: 00:28:25

Yeah.

Sean: 00:28:25

I'll read these out and then feel free to happen with whatever schemes you heard.

Sean: 00:28:29

All right.

Sean: 00:28:29

So sales platforms, charge artists and buyers fees for minting fees for

Sean: 00:28:35

listing fees, for claiming and fees for secondary sales and analysis

Sean: 00:28:40

of NMT markets in March, 2021.

Sean: 00:28:43

And the aftermath of people's every days, the first 5,000 days

Sean: 00:28:48

selling for us $69.3 million, huh?

Sean: 00:28:54

Found that most NMT artworks are selling for less than $200.

Sean: 00:29:00

With a third selling for less than $100.

Sean: 00:29:03

Those selling below $100, we're paying network usage fees between 72 and a half

Sean: 00:29:10

to 157 and a half per cent of that amount, meaning that such artists that such

Sean: 00:29:17

artists or on average paying more money in fees than they were making in sales Jesus.

Sean: 00:29:24

So the last section is plagiarism and fraud.

Sean: 00:29:28

Um, there have been examples of artists having their work copied

Sean: 00:29:32

without permission and sold as an NFT.

Sean: 00:29:35

After the artists going hon died in 2020, her identity was assumed by a

Sean: 00:29:41

fraudster and a number of her works became available for purchase as NFTs.

Sean: 00:29:47

Similarly, a poster posing as banks.

Sean: 00:29:51

Succeeded in selling an NFT supposedly made by the artists for 330, $6,000

Sean: 00:29:58

with the seller in this case, refunding the money after the case, drew much

Sean: 00:30:02

media attention, a process, isn't it.

Sean: 00:30:06

You can see

John: 00:30:06

that one

Sean: 00:30:07

artist who, nobody knows who he is.

Sean: 00:30:11

They didn't, he do

John: 00:30:11

like a prank or some shit, but like a disappearing

Sean: 00:30:13

art.

Sean: 00:30:14

He did this thing where he sold a piece of art to somebody to sell for him.

Sean: 00:30:20

And then as soon as somebody like closed the bid and like bought it,

Sean: 00:30:24

uh, there was like a button in there.

Sean: 00:30:26

I don't know if he pressed it if he was in the building or not, but there was a

Sean: 00:30:29

button in there that, uh, oh yeah, that's shredded the artwork from the frame.

Sean: 00:30:35

So somebody spend millions of dollars on a bank CR and then he fucking

Sean: 00:30:39

just shredded it immediately over.

Sean: 00:30:41

Yeah.

Sean: 00:30:42

And then, I mean that in itself, I mean, if you, you know, depending

Sean: 00:30:46

on how you feel about that, I mean, Art, you know, that's yeah.

Sean: 00:30:51

I would not mind owning shredded Banksy.

Sean: 00:30:54

That's pretty fucking cool.

Sean: 00:30:56

Especially this.

Sean: 00:30:56

I mean, I would, I pay millions and millions of dollars.

Sean: 00:30:59

I know, but it would be cool to have, but yeah, he died.

Sean: 00:31:04

He was also just viral on Tik TOK because he, he has an exhibit

Sean: 00:31:09

opening in the Brooklyn museum.

Sean: 00:31:10

So he's been going around New York.

Sean: 00:31:12

Um, and then he has people like selling his artwork on the street

Sean: 00:31:16

next to like regular people artwork and like their Banksy originals.

Sean: 00:31:21

And he's just seeing if anybody buys throughout the day for like 15 bucks,

Sean: 00:31:24

20 bucks, like cheap and nobody, nobody thinks it's real Banksy art.

Sean: 00:31:30

Some people will buy it.

Sean: 00:31:31

Some people will haggle the guys.

Sean: 00:31:33

It's, it's funny to watch, but anyways, so there's a process known as sleepiness.

Sean: 00:31:42

Uh, a process known as sleep minting can also allow a F fraudster to mint

Sean: 00:31:48

an NFT in an artist's wallet and transfer it back to their own account.

Sean: 00:31:53

Without the artist becoming aware, this allowed a white hat hacker

Sean: 00:31:58

to mint, a fraudulent NFT that had seemingly originated from the wallet

Sean: 00:32:02

of the artist, people, the BBC reported a case of insider trading.

Sean: 00:32:07

When an employee, an employee of the NFT marketplace open C bought specific NFTs

Sean: 00:32:14

before they were launched with the prior knowledge that they would be promoted

Sean: 00:32:17

on the company's homepage and empty trading is an unregulated market that

Sean: 00:32:22

has no legal recourse for such abuses and their announcement of developing

Sean: 00:32:27

NFT support for the graphics editor, Photoshop, Adobe proposed creating an

Sean: 00:32:32

interplanetary file system database as an alternative means of establishing

Sean: 00:32:37

authenticity for digital work.

Sean: 00:32:40

And then that's it for Wikipedia guys.

Josh: 00:32:43

Okay.

Josh: 00:32:44

So, um, those weren't quite the, those are, you know, those are scams, I guess,

Josh: 00:32:49

but, um, the scams I was talking about was the, uh, pump and dump scams that

Josh: 00:32:54

allow yeah, I've been doing, uh, John probably appreciates the name, but,

Sean: 00:33:01

um, word on the street is John has pumped and dumped five times in a day.

Josh: 00:33:05

Yeah.

Josh: 00:33:06

Today, uh, today on this episode,

Sean: 00:33:11

that is a talent teasing you guys.

Sean: 00:33:14

Oh God.

Josh: 00:33:15

Um,

Sean: 00:33:15

boom, boom.

Josh: 00:33:21

Um, so yeah, so, uh, so big YouTube companies like

Josh: 00:33:26

faze clan and, uh, rice gum.

Josh: 00:33:29

They basically, they make these at FTS and by make, I mean, they are.

Josh: 00:33:36

You know, they sign up for the NFT thing, whatever, like, however you do it.

Josh: 00:33:40

And then they tweet out that, Hey, we're going to give away

Josh: 00:33:43

this much money in our new NFTs.

Josh: 00:33:46

We're super hyped about it.

Josh: 00:33:48

Uh, go buy some whatever.

Josh: 00:33:50

So then all their fans go and buy the new NFT, the price skyrockets, like thousands.

Josh: 00:33:58

I got a bunch of percentage points and then they, what they do is they just

Josh: 00:34:02

cash out because they own a lot of it.

Josh: 00:34:04

And then they make all that money and then their fans are left holding

Josh: 00:34:08

the empty bag of a worthless crypto.

Josh: 00:34:10

So

Sean: 00:34:11

that's kind of what I heard about too.

Sean: 00:34:13

Like people will, okay.

Sean: 00:34:15

So I'll make an NFT and then I'll make another account and buy that

Sean: 00:34:20

MFT NFT from myself for like $10,000.

Sean: 00:34:24

And then somebody be like, oh shit.

Sean: 00:34:25

That's where 10,000.

Sean: 00:34:27

Let me buy that while it's trending or whatever I'll pay.

Sean: 00:34:30

And then you, since you sold it and bought it from yourself for a thousand dollars,

Sean: 00:34:34

you put it up to sell for, uh, for $1,400.

Sean: 00:34:39

Yeah.

Sean: 00:34:39

And then somebody was like, oh shit.

Sean: 00:34:40

Yeah.

Sean: 00:34:41

That's it jumped up from zero to a thousand and it only

Sean: 00:34:44

went up $400 steel buy it.

Sean: 00:34:46

And then you just spent $1,400 on some shit that nobody cares about

Sean: 00:34:51

because the only year you're in a bidding war, you entered a bidding

Sean: 00:34:54

war between one guy and himself.

Sean: 00:34:57

Yeah.

Josh: 00:35:01

And that's the issue, right.

Josh: 00:35:02

You

Sean: 00:35:02

don't know because there's zero regulation for the shit.

Sean: 00:35:05

Yeah.

Josh: 00:35:05

It's just like Sean said the wild west and, um, it it's shitty

Josh: 00:35:11

and it should be illegal, but I don't know if it actually is.

Josh: 00:35:13

I don't know if there actually are laws against.

Sean: 00:35:16

Yeah, it's so new.

Sean: 00:35:17

I mean, I don't know the nuances of the legality of a lot of this

Sean: 00:35:21

stuff, but, uh, I am Sean and you know, the vibes at this point.

Sean: 00:35:25

So if you really want to do the research, that's up to you, my guy,

Sean: 00:35:31

but, uh, that's it for Wikipedia.

Sean: 00:35:33

We're going to get into some ads, uh, listen up, buy that stuff if you want.

Sean: 00:35:37

I guess, uh, if you don't want to, you can go ahead and buy our Patrion

Sean: 00:35:41

on the $10 tiers is what you want.

Sean: 00:35:43

There's a, you get everything.

Sean: 00:35:45

I can't tell you at $10.

Sean: 00:35:48

I can't explain how broke I truly am.

Sean: 00:35:52

E-log

Josh: 00:35:52

Scott do well in the doge coin.

Josh: 00:35:56

He

Sean: 00:35:56

loves sold at the wrong time.

Sean: 00:35:58

Really destroyed me.

Sean: 00:36:00

But, uh, yeah, we'll see you guys back after these ads, psych, unless you're

Sean: 00:36:04

on Patrion all we're already back bitch.

Sean: 00:36:06

No ads.

Sean: 00:36:07

This is what you paid for.

Sean: 00:36:08

This is what you get you better fucking believe it, baby.

Sean: 00:36:12

Welcome back to Reddit on Wiki.

Sean: 00:36:14

We're going to get into the Reddit section of this show.

Sean: 00:36:18

So I pulled up some fun stuff.

Sean: 00:36:21

Uh, but I'll get into the un-fun stuff first and kind of just more explanation

Sean: 00:36:26

on what the problem is with NFTs.

Sean: 00:36:29

Oh shit.

Sean: 00:36:30

I didn't even get to talk about this before we went to

Sean: 00:36:32

break a bonus Wikipedia shit.

Sean: 00:36:35

First time ever.

Sean: 00:36:36

Here we go.

Sean: 00:36:39

All right.

Sean: 00:36:39

So I wanted to talk about this, uh, but I forgot obviously, so,

Sean: 00:36:42

and I'm talking about it now.

Sean: 00:36:44

Uh, I'm going to go over the top 10 highest paid, uh, yeah, the

Sean: 00:36:51

highest prices paid for an NFT.

Sean: 00:36:54

Oh shit.

Sean: 00:36:55

Okay.

Sean: 00:36:55

Okay.

Sean: 00:36:56

Top 10.

Sean: 00:36:56

Here we go.

Sean: 00:36:57

I've got to count it out here.

Sean: 00:36:58

1, 2, 3, 4, 5, 6, 7.

Sean: 00:37:01

I'll edit this out.

Sean: 00:37:03

All right.

Sean: 00:37:04

Cool.

Sean: 00:37:05

Uh, I talked to during that.

Sean: 00:37:07

So I don't know if this is tan, but we'll go with it.

Sean: 00:37:08

All right.

Sean: 00:37:09

So the 10th, most expensive and empty sold was sold in 20 in July, 2021.

Sean: 00:37:17

It is the crypto punk number 5,217.

Sean: 00:37:24

Uh, and it's sold for $5.59 million.

Sean: 00:37:30

Oh, oh God.

Josh: 00:37:33

I wonder if we could clip our podcasts and make NFTs.

Sean: 00:37:38

Well, just fucking, we'll just, uh, run, train on between the

Sean: 00:37:41

three of us just upping its value.

Sean: 00:37:43

You know what I'm saying?

Sean: 00:37:44

Oh, God, you heard what?

Sean: 00:37:47

I said?

Sean: 00:37:49

I didn't misspeak.

Sean: 00:37:50

That's what I said, no context, Twitter.

Sean: 00:37:54

We're going to run, train on that NMT.

Sean: 00:37:58

All right next up selling for an approximately $6 million is people's

Sean: 00:38:06

oceanfront sold, uh, in March, 2021.

Sean: 00:38:09

All of these looking like 20, 21, the next one is 6 million and,

Sean: 00:38:15

uh, 34,000, uh, that would be X copies, a coin for the ferry, man.

Sean: 00:38:22

All right, coming up next at $6.6 million is people.

Sean: 00:38:27

Ooh, people again, people's crossroad coming in next at 7.6 million crypto

Sean: 00:38:35

punk number 7,804 cyberpunk coming back at it again with a cyberpunk

Sean: 00:38:43

number 3,100 selling for 7.7 million.

Sean: 00:38:48

So they're only

Josh: 00:38:49

the new banks, the digital banks.

Sean: 00:38:52

Kind of all these people, crypto punks people, they it's, they they're

Sean: 00:38:56

on the top 10 list multiple times.

Sean: 00:38:59

That's okay.

Sean: 00:39:00

Coming in, uh, another crypto punk number is 7,523 sold

Sean: 00:39:05

for a hot, hot $11.8 million.

Sean: 00:39:09

God damn.

Sean: 00:39:11

Holy shit.

Sean: 00:39:12

Oh,

John: 00:39:13

is the money real or is it also an NMT

Sean: 00:39:15

money?

Sean: 00:39:16

No, you're paying real money for this.

Sean: 00:39:19

People are paying either money or Ethereum for these and Ethereum is, is worth,

Sean: 00:39:25

let's say let's guess how much do you think one Ethereum is worth right now?

Sean: 00:39:30

$36,000.

Josh: 00:39:32

Oh, we're going in

Sean: 00:39:34

American?

Sean: 00:39:35

Yeah.

Sean: 00:39:35

We're going at American.

Sean: 00:39:36

Well, yeah, that's the only money that matters the fuck.

Sean: 00:39:38

Yeah, that's true.

Josh: 00:39:39

Uh, let's go

Sean: 00:39:40

39.

Sean: 00:39:41

You know, we have Canadian listeners.

Sean: 00:39:43

Look what?

Sean: 00:39:44

Go ahead.

Sean: 00:39:45

Your Canadian dollars.

Sean: 00:39:46

How much do you.

Sean: 00:39:47

It's worth $10 Canadian

Josh: 00:39:49

dollars.

Josh: 00:39:49

51,000.

Sean: 00:39:52

Okay.

Sean: 00:39:52

So w where theory is not quite Bitcoin level one at theory and Canadian

Sean: 00:39:59

dollars is worth 5,000, uh, $5,092.

Sean: 00:40:05

Oh, Bitcoin.

Sean: 00:40:07

Yeah.

Sean: 00:40:07

You guys are thinking Bitcoin money.

Sean: 00:40:09

This one is a, oh, oh,

Josh: 00:40:12

now you're a Bitcoin.

Josh: 00:40:14

We're a lot closer, but

Sean: 00:40:16

yeah, Bitcoin, you guys are a lot closer, but, um, one Ethereum to USD

Sean: 00:40:22

is worth $3,937 for fake fucking money.

Sean: 00:40:30

Fake money.

Sean: 00:40:30

It's real money is very much real money.

Sean: 00:40:34

Like,

Josh: 00:40:35

oh, actually

Sean: 00:40:37

all of these sold in Ethereum

Sean: 00:40:39

out.

Josh: 00:40:40

Damn it.

Josh: 00:40:41

If you think about it, John, like money is becoming.

Josh: 00:40:45

Fake in, in your words, right?

Josh: 00:40:48

Like you get your paycheck digitally.

Josh: 00:40:50

You get, you pay things through credit, through your debit card.

Josh: 00:40:53

You never really hold real money anymore.

Josh: 00:40:56

It's all just numbers.

Josh: 00:40:57

It's not really, it's technically just on the blockchain or whatever, but it's

Josh: 00:41:02

in a bank, but that's the blockchain.

Josh: 00:41:04

Yeah.

Josh: 00:41:04

I saw

Sean: 00:41:04

some stat today that in the youth that in the United States,

Sean: 00:41:09

uh, $1 bills are, uh, equally in circulation with a hundred dollar bills.

Sean: 00:41:15

Like they've gone down so much that they're used just

Sean: 00:41:18

as frequently as $100 bills.

Josh: 00:41:20

That's crazy.

Josh: 00:41:21

And you guys still pennies there.

Josh: 00:41:27

Penny has anymore.

Josh: 00:41:28

You guys just got rid of them.

Josh: 00:41:30

Yeah, we got rid of them a couple of years ago.

Josh: 00:41:32

Shit.

Josh: 00:41:32

Cause there was nothing.

Josh: 00:41:33

Yeah.

Josh: 00:41:34

They just, if you're paying in cash, everything is rounded

Josh: 00:41:35

up to the nearest 5 cent.

Josh: 00:41:37

Really?

Josh: 00:41:38

Wow.

Josh: 00:41:38

Yeah.

Josh: 00:41:39

I mean, it doesn't come in that, like I don't pay cash usually,

Josh: 00:41:42

so he charged the cents, but.

Josh: 00:41:45

Yeah.

Sean: 00:41:45

Okay.

Sean: 00:41:46

So let's round out the top three.

Sean: 00:41:49

Oh yeah.

Sean: 00:41:49

We weren't coming in with Bebo people's human.

Sean: 00:41:53

His NFT was called human one and it sold for $29 million.

Sean: 00:41:59

And then he done did it again later, uh, with every days, the first 5,000,

Sean: 00:42:06

um, it's sold for $69.3 million.

Sean: 00:42:11

Oh, nice to be out, dude, by PAC who sold, uh, the merge for 91.8 million

Sean: 00:42:22

fucking dollars and say almost a hundred mil for, for over a seat of an art.

Sean: 00:42:31

This is the

Josh: 00:42:32

dumbest artwork I've ever seen.

Josh: 00:42:34

Oh, you Googled it 9.8 and 91.8 million.

Josh: 00:42:39

Yeah,

Sean: 00:42:40

yeah, yeah, yeah, yeah.

Sean: 00:42:41

You know, I've always, it looks like two testicles.

Sean: 00:42:43

Yeah,

John: 00:42:44

I've always kind of wanted to just do some art like that.

John: 00:42:47

Like maybe one day I just fucking put a bunch of paint on my butt cheek, sit

John: 00:42:50

on it and then be like, here you go.

John: 00:42:53

And if Tim bro, and then just have fucking like all of us, just to be like, oh yeah,

John: 00:42:57

that, that's what that makes me feel

Sean: 00:43:00

something like, oh my gosh, that's what

Josh: 00:43:02

fucking Gary V or whatever his name does.

Josh: 00:43:05

He draws like stupid little stick figures and sells them.

Josh: 00:43:08

And that he makes, yeah, he makes a ton of money just because people follow him

Josh: 00:43:13

and they believe in his finance voodoo

Sean: 00:43:15

bullshit.

Sean: 00:43:17

What?

Sean: 00:43:18

Well I'm jealous.

Sean: 00:43:19

Yeah.

Sean: 00:43:20

I think it's Gary V anyway.

Sean: 00:43:22

Okay.

Sean: 00:43:22

So we, we have to slander at least one person per

Josh: 00:43:27

podcast.

Josh: 00:43:28

It's true.

Josh: 00:43:29

I will, I will share this here.

Josh: 00:43:30

I'll share this with the screen.

Josh: 00:43:32

Sorry.

Josh: 00:43:32

I'm derailing your

Sean: 00:43:33

episodes.

Sean: 00:43:34

You're fine.

Sean: 00:43:34

My guy, my episode, you already know you call it out.

Sean: 00:43:37

There meant to be the long ones people know going in

Josh: 00:43:40

that was shared.

Josh: 00:43:42

I got the shit, that

Sean: 00:43:44

grateful guard

John: 00:43:47

are you fucking kidding me?

John: 00:43:50

Fucking

John: 00:43:55

money off of this shit.

Sean: 00:43:57

Are you fucking kidding me?

Josh: 00:44:00

It's fucking ridiculous.

Sean: 00:44:02

There's a high percentage of NFTs that look like complete shit.

Sean: 00:44:08

Like a lot of them.

Josh: 00:44:09

Yeah, man.

Josh: 00:44:10

Like, cause cause people just do exactly what you said, John.

Sean: 00:44:15

Uh, a lot of them too, they are like made by AI.

Sean: 00:44:21

So the ma the minimal amount of work, Jesus, I want to

John: 00:44:27

try and network, we needed, we needed to do something like that.

John: 00:44:29

Right.

John: 00:44:30

Everyone just draws some, whatever, whatever you're into and just fuck.

Sean: 00:44:37

I used to fucking listen to Gary V like podcasts.

Sean: 00:44:40

And then like after a month I was like, oh my God, it's the same fucking shit.

Sean: 00:44:43

Every time that's fucking insane.

Sean: 00:44:47

Isn't it?

Sean: 00:44:48

Yeah.

Sean: 00:44:49

Yeah.

Sean: 00:44:49

It's just

Josh: 00:44:50

like, uh, you know, hate yourself and, and you'll do better

Josh: 00:44:54

in life, but some shit like that,

John: 00:44:57

never, never silly

Sean: 00:44:59

things

Sean: 00:44:59

in

Josh: 00:44:59

life, never sleep.

Josh: 00:45:02

I like to imagine bad things happen to me so that I get motivated.

Josh: 00:45:06

Like I think my mom died or something, and

Sean: 00:45:09

if you're not waking up at 5:00 AM every Saturday to go to

Sean: 00:45:12

a garage sale, you're fucking up.

Sean: 00:45:15

That's what makes the difference between millionaires and Millie and not

Josh: 00:45:20

meanwhile, he leaves out the part where his family was

Josh: 00:45:22

rich and he inherited money.

Sean: 00:45:25

We started from nothing.

Sean: 00:45:26

We owned a whole liquor store.

Sean: 00:45:28

Yeah.

Sean: 00:45:28

That

Josh: 00:45:28

sounds like starting from, so it sounds like you

Josh: 00:45:31

had something and then yeah.

Josh: 00:45:33

Yeah.

Josh: 00:45:33

It's just a bunch of.

Josh: 00:45:34

He uses his grift

Sean: 00:45:36

to grant more money out of respect that he drifted to 160,000.

Sean: 00:45:40

That's true.

Sean: 00:45:41

At a certain point.

Sean: 00:45:42

I can't

John: 00:45:43

hate from the bottom.

John: 00:45:44

I was never there.

Josh: 00:45:46

I never enjoy

Sean: 00:45:47

anything

John: 00:45:49

down.

John: 00:45:50

We got that in mockery.

John: 00:45:51

Pretty

Sean: 00:45:51

good.

Josh: 00:45:53

That should be our new bit.

Josh: 00:45:54

We just make fun of shitty people.

Sean: 00:45:57

Yes.

Sean: 00:45:59

Oh no.

Sean: 00:46:00

They're going to come out to us.

Sean: 00:46:02

Sue us for defamation.

Sean: 00:46:03

There's way too many shitty people.

Josh: 00:46:05

We're going to start with the, uh, it was the guy you hate in the

Sean: 00:46:08

wheelchair.

Sean: 00:46:09

I was Greg Abbott, Greg Abbott.

Sean: 00:46:11

God fucking

John: 00:46:12

damn could be Greg Abbott.

John: 00:46:14

Josh seems like he hates.

John: 00:46:15

Who do you hate Josh?

Josh: 00:46:17

A lot of people,

Sean: 00:46:18

I was going to say quite emotional.

Sean: 00:46:20

The rich,

John: 00:46:21

most of the rich would be Ilan.

John: 00:46:23

That could be Gary.

Josh: 00:46:24

Okay.

Josh: 00:46:24

Cool.

Josh: 00:46:25

Actually, I'll make fun of Canadian.

Josh: 00:46:26

I'll do Jordan Peterson.

Josh: 00:46:28

How about that?

Josh: 00:46:28

I

Sean: 00:46:28

have no idea who that is, but is that the, is that

Sean: 00:46:31

the, no, that's not that guy.

Sean: 00:46:32

I'm Carmita shag.

Sean: 00:46:33

Before I even

Josh: 00:46:34

start, it sounds like Kermit the frog.

Sean: 00:46:37

Oh, I thought you were going to say the fucking Wolf of wall

Sean: 00:46:39

street was definitely American.

Sean: 00:46:44

Uh, all right.

Sean: 00:46:45

So I've been back on getting into Reddit.

Sean: 00:46:49

Somebody put, uh, what is up with the NFT hate and this

Sean: 00:46:54

guy pretty much just went on.

Sean: 00:46:55

Uh, I want to try it.

Sean: 00:46:57

He was like, I feel like I miss some critical data that everybody

Sean: 00:47:00

else on Reddit has already learned.

Sean: 00:47:02

Can someone explain to this smooth brain, how NFT as a technology are going to

Sean: 00:47:07

fuck us up in the long slash short term?

Sean: 00:47:11

Okay.

Sean: 00:47:12

So in the top rated comment and I'll go for internet points here, the Reddit

Sean: 00:47:16

points, cause it's a lot is, oh my God.

Sean: 00:47:22

So it has Jesus.

Sean: 00:47:24

It has, I can't even see the amount of votes, but I see it has 156 awards.

Sean: 00:47:31

So those are like, uh, those are things that people pay for, I think, to give,

Sean: 00:47:36

to comments and posts that they, like, he got 156 different awards for this,

Sean: 00:47:42

but, uh, he said the answer that people hate NFTs is for a number of reasons.

Sean: 00:47:49

Here we go.

Sean: 00:47:49

I'm going to look.

Sean: 00:47:50

He listed them out.

Sean: 00:47:51

I'll read them out to you.

Sean: 00:47:51

The wicked maniacs, the non fungible or unreal reproducible part of NFTs.

Sean: 00:47:59

It's usually just a receipt pointing to art, hosted elsewhere, meaning that

Sean: 00:48:03

it's possible for the art to disappear.

Sean: 00:48:06

And the NFC becomes functionally useless pointing to a 4 0 4 page.

Sean: 00:48:11

Not found anyone

Josh: 00:48:13

think of that.

Josh: 00:48:14

That's

Sean: 00:48:14

true.

Sean: 00:48:15

Some art is generated based off the unique token ID, meaning a given piece

Sean: 00:48:20

of art is tied to the ID within the.

Sean: 00:48:24

But this art is usually laughably ugly, made by a bot who can generate

Sean: 00:48:30

millions of soulless pieces of art.

Sean: 00:48:32

Also, someone could just right click and save the piece of

Sean: 00:48:36

generated art, making the quote non-functional part questionable.

Sean: 00:48:40

Remember the NFT is only a receipt, even if the art it links to is

Sean: 00:48:45

generated off an ID in the receipt.

Sean: 00:48:49

All right, next one.

Sean: 00:48:51

However, and if Ts are marketed as if they're selling you the art itself,

Sean: 00:48:56

which they're not, this is rightfully called out by just about everybody.

Sean: 00:49:01

You can decentralize receipts because those are small and plain text and

Sean: 00:49:05

inexpensive to login the blockchain.

Sean: 00:49:08

But the art needs to be hosted somewhere.

Sean: 00:49:11

If the server where the artist hosted goes down, your art is gone.

Sean: 00:49:17

Um, shit, NFT mentors are often art Deeves minting, others works

Sean: 00:49:23

and trying to spin a profit.

Sean: 00:49:25

The anonymous nature of NFTs makes it hard to crack down

Sean: 00:49:29

on, and the moderation is poor.

Sean: 00:49:31

And the NFT communities, artists whose artists who get into NFTs with a sincere

Sean: 00:49:38

hope of making money are often hit with a harsh reality that they're losing more

Sean: 00:49:43

money to minting the NMT of their art than it is actually making a profit.

Sean: 00:49:48

Each individual minted art piece costs about 70 to a hundred dollars USD.

Sean: 00:49:55

Okay, cool.

Sean: 00:49:56

That's where we go of Canadian dollars.

Sean: 00:49:59

Yeah.

Sean: 00:49:59

Thousands.

Sean: 00:50:01

All right.

Sean: 00:50:01

And we talked about this kind of briefly this next point, but most huge sales

Sean: 00:50:06

are actually the seller selling it to themselves under a different wallet, to

Sean: 00:50:12

try to grift others into thinking the token is worth more than it actually is.

Sean: 00:50:17

Wallet IDs are not tied to names.

Sean: 00:50:20

Therefore are anonymous enough to encourage drumming up fake hype example.

Sean: 00:50:26

If you meant a piece of art that is worth technically speaking, $0 until

Sean: 00:50:31

somebody pays a price for it, the price is what the market dictates

Sean: 00:50:35

is the value for your art piece.

Sean: 00:50:38

Say you're down $70 already from minting, and nobody is buying your art.

Sean: 00:50:43

Bam.

Sean: 00:50:43

You get the idea to start a second.

Sean: 00:50:45

Crypto wallet, pretend it's someone else.

Sean: 00:50:48

And you sell your art piece.

Sean: 00:50:50

That which again is worth $0 to yourself.

Sean: 00:50:53

For $12,000, let's say that's your whole savings account.

Sean: 00:50:57

Converted into crypto.

Sean: 00:50:59

The transaction costs a few more bunk bucks, but then there's a public

Sean: 00:51:05

record of your art being traded for 12.

Sean: 00:51:07

K.

Sean: 00:51:08

You go on Twitter and claim to all your followers.

Sean: 00:51:11

Oh my God.

Sean: 00:51:11

I'm shaking.

Sean: 00:51:12

My art just sold for 12 K and then a picture of the transaction.

Sean: 00:51:17

The second amount is it, your second account then puts the NFT

Sean: 00:51:20

on the market for a second time.

Sean: 00:51:22

This time for 14,000 someone who isn't you makes an offer because they saw

Sean: 00:51:27

your Twitter thread and decided your art piece must be worth at least 12 K.

Sean: 00:51:33

Maybe it's even worth more.

Sean: 00:51:34

Now that poor stranger is down 14.

Sean: 00:51:37

K and you turn 12 K and a piece of artwork.

Sean: 00:51:40

$0 into 26.

Sean: 00:51:41

K John, why are you taking

Josh: 00:51:44

notes?

Sean: 00:51:47

I'm like, what?

John: 00:51:49

Fuck.

Josh: 00:51:52

Yeah.

Josh: 00:51:54

Bullshit.

Josh: 00:51:54

There's so many

Sean: 00:51:56

things, so many bad reasons, a few more creating artificial scarcity as a

Sean: 00:52:01

design goal, which is very counter to the idea of free and open web of information.

Sean: 00:52:07

And it makes the privatization of the web much easier using that artificial scarcity

Sean: 00:52:12

to drive a speculation market hurts.

Sean: 00:52:15

Most people accept hedge funds.

Sean: 00:52:17

We afters, and the extremely lucky NFTs are driven by hype making NFT investors,

Sean: 00:52:23

scammers, super outspoken and obnoxious.

Sean: 00:52:27

This is why the tone of the conversation around NFTs is so resentful to them

Sean: 00:52:31

because people are sick of being forced to interact with these NFT high BS

Sean: 00:52:37

and then, uh, questionable legality haven't, uh, NFTs are a Haven for money

Sean: 00:52:44

laundering schemes because crypto is largely unregulated and anonymous.

Sean: 00:52:49

Um, gamers, here we go.

Sean: 00:52:51

John gamers are angry because game publishers love the idea of using NFTs

Sean: 00:52:57

as a way to squeeze more money out of micro-transactions buying a digital

Sean: 00:53:02

hat for your character is only worth anything because of artificial scarcity

Sean: 00:53:06

and bragging rights, NFTs bolster.

Sean: 00:53:09

Both of those

Josh: 00:53:11

that's true.

Josh: 00:53:11

I guess microtransactions and video games were kind of the first iteration.

Josh: 00:53:15

Yep.

Josh: 00:53:16

Horrible.

John: 00:53:16

I mean, this is what was

Sean: 00:53:18

like for real,

John: 00:53:21

super bad at that.

John: 00:53:22

I know when I forgot what game it was.

John: 00:53:25

Well, whichever let's bring it back to the Witcher when they had one of the, one of

John: 00:53:28

the DLC packs that they had, and it was a ridiculous fucking, um, horse armor skin.

Sean: 00:53:34

Oh no, that was Skyrim went ham on them fallout.

John: 00:53:39

I had the same issue

Sean: 00:53:40

evolve.

John: 00:53:41

Yeah.

John: 00:53:42

Evolve, but that's like, but that's the GTA is fucking

John: 00:53:45

horrible at that with all their

Sean: 00:53:47

micro-transactions.

Sean: 00:53:49

Yeah, it reminds me, I remember seeing a back, like way back, like when DLC

Sean: 00:53:55

was becoming a thing and somebody was like, it is crazy how video games are

Sean: 00:53:58

essentially getting away with releasing and making people pay full price for

Sean: 00:54:03

unfinished games only to sell the DLC separately that finished the game.

Sean: 00:54:08

I'm like, this is, should be illegal.

Sean: 00:54:12

I want

John: 00:54:12

to say it was like EA too.

John: 00:54:14

But like when they started releasing like loot boxes and

John: 00:54:17

those were just like terrible.

John: 00:54:20

And then I know two K for, for some time, like God in some issues

John: 00:54:24

because, um, they were kind of encouraging gambling for, for some

Sean: 00:54:29

of the games I'm like, oh yeah, card packs and blue boxes

Josh: 00:54:34

and land.

Josh: 00:54:36

You have to pay real money sometimes to get them.

Josh: 00:54:38

Then it just.

Josh: 00:54:39

Yeah,

John: 00:54:39

like VC, like virtual currency there.

John: 00:54:41

It's like, you got to pay real money to have fake money in the

John: 00:54:43

game, which is goddamn ridiculous.

Sean: 00:54:45

So

Josh: 00:54:46

someone, someone did the math for, I think it was star wars, Battlefront.

Josh: 00:54:49

Someone did the math and it was like, you had to place 600

Josh: 00:54:52

hours to unlock everything.

Josh: 00:54:54

And it's like, okay, well, average people who work every day are not

Josh: 00:54:57

going to be able to pay, play that, you know, like that's possible for

Josh: 00:55:01

some people, but most people are going to have to pay to get the things.

Josh: 00:55:05

And it was paid a win.

Josh: 00:55:06

Like you, you, the, the higher you get like upgrades that you

Josh: 00:55:10

had to pay for, and then you were just better at the game then.

Josh: 00:55:15

So had such bullshit.

Josh: 00:55:17

Yeah.

Josh: 00:55:18

Yeah.

Josh: 00:55:20

Capitalism

Sean: 00:55:21

Bain capital as a baby.

Sean: 00:55:24

All right.

Sean: 00:55:24

Moving on to the next one.

Sean: 00:55:25

This is from, uh, the subreddit sad cringe.

Sean: 00:55:28

Uh, NFT dude thinks he can stop people from right-clicking.

Sean: 00:55:32

So somebody tweeted out Twitter is working on a collect collectibles profile

Sean: 00:55:37

tab, NFTE view, and NFT details view.

Sean: 00:55:40

So they showed like what that would look like in Twitter.

Sean: 00:55:43

And they posted like a picture of an NFT and some user said, this is an unlicensed

Sean: 00:55:48

use of blanked out ape, expect a DMC.

Sean: 00:55:52

And then somebody replied to that with a, a picture of, it looks like the

Sean: 00:55:58

guy's profile picture, which is like a, looks like one of those crypto,

Sean: 00:56:02

like, uh, like an NFT of an ape.

Sean: 00:56:05

Okay.

Sean: 00:56:05

Oh, yes.

Sean: 00:56:06

Yeah.

Sean: 00:56:06

Yeah.

Sean: 00:56:07

So he, he just re posted the guy's profile picture and said, I love my new NFT.

Sean: 00:56:11

And then the guy replied, your tweet will be gone with.

Sean: 00:56:16

And then somebody replied to that four pictures of the same NFT, like four

Sean: 00:56:21

different pictures of the same NMT.

Sean: 00:56:23

And they said, somebody, please do something.

Sean: 00:56:25

This is a legal,

Josh: 00:56:32

I love the troll.

Josh: 00:56:34

Good man.

Josh: 00:56:36

It's just, it's such a pretentious thing to be like, I own this thing.

Josh: 00:56:41

And like, because I paid for it and no one else can own it and get mad at

Josh: 00:56:47

people who want to appreciate the art or the video or whatever it happens to be.

Sean: 00:56:54

Yeah.

Sean: 00:56:54

I w I wonder if they think it's like, like how photographers feel,

Sean: 00:56:58

but photographers made that shit.

Sean: 00:57:00

You know what I'm saying?

Sean: 00:57:01

They difference they made the art behind it.

Sean: 00:57:03

You just bought something that you think is worth shit, however much you paid for.

Sean: 00:57:08

You know what I mean?

Sean: 00:57:09

So

Josh: 00:57:11

it's like you said, they're not buying.

Josh: 00:57:13

To have it, they're buying it to sell it.

Josh: 00:57:16

They're there they're predators as well as they are prey, because sometimes they get

Josh: 00:57:22

conned into paying for something that's not worth anything, but the reason they're

Josh: 00:57:26

buying it is because they want to find the next sucker who will buy it for them for

Josh: 00:57:30

more money and make a profit off of it.

Josh: 00:57:33

They're not actually going into it because they're like,

Josh: 00:57:35

oh, I love fucking basketball.

Josh: 00:57:37

I want to own all these cards or whatever they are.

Josh: 00:57:40

They're like, I want to get a cool card so that I can rip off some other person

Josh: 00:57:46

who thinks that this is worth something.

Josh: 00:57:49

So fuck NFTs.

Sean: 00:57:53

This next one is from a Reddit R slash superstar.

Sean: 00:57:58

Uh, not tin foiling, but I found this amusing, the clickable dead pixel on

Sean: 00:58:03

nft.gamestop.com has a height and width.

Sean: 00:58:07

Can you guess what they have.

Sean: 00:58:12

And then, uh, the height is, uh, six, uh, or the, the width

Sean: 00:58:18

is 6.9 and the height is 4.20.

Sean: 00:58:23

And then literally every comment on this thread is nice.

Sean: 00:58:27

Nice, nice, nice, nice, nice, nice, nice, nice, nice, nice.

Sean: 00:58:45

I got two more.

Sean: 00:58:47

Here we go.

Sean: 00:58:49

Just kidding.

Sean: 00:58:50

Three more.

Sean: 00:58:51

So this one is a board ape NFT accidentally sells for

Sean: 00:58:57

$3,000 instead of $300,000.

Sean: 00:59:03

And then I shared it.

Sean: 00:59:05

Uh, mostly for the comments somebody wrote are we to believe that this

Sean: 00:59:10

monkey is still somehow worth $3,000.

Sean: 00:59:14

And then somebody said it's not even the monkey law.

Sean: 00:59:17

It's just the receipt for the fucking monkey.

Sean: 00:59:23

That's true.

Josh: 00:59:25

God damn.

Sean: 00:59:26

Oh, here we go.

Sean: 00:59:27

And then here's another one, uh, on a Reddit slash R slash shit posting.

Sean: 00:59:34

Nice.

Sean: 00:59:34

Uh, and somebody just, uh, put my collection of screenshotted NFTs

Sean: 00:59:39

and then as hundreds of photos

Josh: 00:59:41

of just other people's

Sean: 00:59:43

NFTs.

Josh: 00:59:46

Oh God.

Josh: 00:59:48

That's so funny.

Sean: 00:59:50

All right.

Sean: 00:59:50

And then here's the last one from Reddit, R slash tumbler.

Sean: 00:59:54

Remember that?

Sean: 00:59:55

Remember those days?

Sean: 00:59:58

Uh, no, y'all didn't have tumblers.

Sean: 01:00:00

I didn't even really use Tumblr.

Sean: 01:00:02

I was fucking, that was my.

Sean: 01:00:04

That was a,

John: 01:00:06

well, actually I know I'm not going to out myself.

Josh: 01:00:11

He wrote fanfic I fucking

Sean: 01:00:13

knew it, but

Josh: 01:00:14

the good shit.

Josh: 01:00:15

You know what I mean?

Josh: 01:00:16

Yeah.

Josh: 01:00:17

John's mad because they banned porn and that's where John's

Sean: 01:00:20

whole tumbler was born.

John: 01:00:23

I didn't have an account.

John: 01:00:24

I just, you

Sean: 01:00:24

know, and just John owned.

Sean: 01:00:26

Fuck.

Sean: 01:00:27

Yeah.

Sean: 01:00:27

nudes.tumbler.com.

Sean: 01:00:32

Well,

Josh: 01:00:32

you're

John: 01:00:33

highly specific.

John: 01:00:33

They're my guys from experience

Sean: 01:00:35

too, dude.

Sean: 01:00:36

Tumbler was just nothing, but fuck yet, insert whatever you want.

Sean: 01:00:40

Dot tumbler.com.

Sean: 01:00:43

I had a homie who posted selfies and was like the cover page of fuck.

Sean: 01:00:46

Yeah.

Sean: 01:00:46

Asian boys.tumbler.com

John: 01:00:49

facts.

John: 01:00:49

One time I was fucking at Filipino cuties.

John: 01:00:52

Yeah,

Sean: 01:00:52

exactly.

Sean: 01:00:53

Like, yeah.

Sean: 01:00:54

Filipino cuties that tumbler.com.

Sean: 01:00:56

Maybe I was in that bitch.

Sean: 01:00:59

You try to say, ah, don't really mess with

Sean: 01:01:05

stab the cap.

Sean: 01:01:06

All right.

Sean: 01:01:06

So this is a, from the Reddit tumbler, subreddit, somebody wrote, sometimes

Sean: 01:01:12

I go to myself, you know, I don't really understand what NMT is are.

Sean: 01:01:16

Then I go look into it and discover.

Sean: 01:01:20

Yes, actually I do know it NFTs are, it's just that every time I

Sean: 01:01:24

read about them again, I'm left.

Sean: 01:01:26

This can't be it.

Sean: 01:01:27

There has to be something else to make this make sense.

Sean: 01:01:30

But yet the answer is always, no,

Josh: 01:01:35

I'm so glad you ended it on that one, because that is how I feel.

Josh: 01:01:38

But this entire episode,

Sean: 01:01:41

somebody, somebody wrote in the comments I know is, uh, somebody

Sean: 01:01:45

wrote, wait, what is it empty?

Sean: 01:01:47

And then the top reply wrote, you know, those star registries, where you pay

Sean: 01:01:51

someone money to get a certificate that says you named a star and like, no one

Sean: 01:01:56

other than this one website recognizes it.

Sean: 01:01:58

Imagine that, but with URLs that go to JPEGs, instead of stars,

Sean: 01:02:05

It's

Josh: 01:02:05

true.

Josh: 01:02:07

It's so true.

Josh: 01:02:08

I don't know.

Josh: 01:02:09

The start might even be more.

Sean: 01:02:10

It might be worth more, to be honest with you.

Sean: 01:02:13

No doubt bit

Josh: 01:02:15

you point to it.

Josh: 01:02:17

Although someone takes a picture of it, then you're fucked, then you're fucking

Sean: 01:02:21

fucked.

Sean: 01:02:21

That's example, Sue your ass.

Josh: 01:02:26

I'll see you in court.

Josh: 01:02:27

Bucko, pull up your briefcase and

Sean: 01:02:32

hello.

John: 01:02:34

That's my star.

John: 01:02:35

That

Sean: 01:02:36

JPEG.

Sean: 01:02:38

All right.

Sean: 01:02:38

So instead of erotic fan fiction, because I'm still haunted by the last

Sean: 01:02:42

one re-read, uh, I went on, uh, I went on copy, pasta.com and then, um, just

Sean: 01:02:51

picked out some of the top three ones.

Sean: 01:02:53

I went by top up votes for the month and I picked some of my favorite ones

Sean: 01:02:58

and, uh, I have three different copy pastas for three different hosts.

Sean: 01:03:03

So what we're going to do.

Sean: 01:03:05

As we're going to roll on Google.

Sean: 01:03:07

The lowest number.

Sean: 01:03:08

We'll read what I think is the worst one.

Sean: 01:03:12

And then, uh, we'll go from there.

Sean: 01:03:15

Okay.

Sean: 01:03:16

All right.

Sean: 01:03:16

So everybody have their D 20 roller on Google.

Sean: 01:03:20

I rolled a 16.

Sean: 01:03:22

Uh, I rolled a seven

Josh: 01:03:27

roll, please.

Josh: 01:03:29

I also rolled a seven re

Sean: 01:03:30

roll baby roll roll off

Josh: 01:03:35

5, 4 14,

Sean: 01:03:38

Josh.

Sean: 01:03:39

This is the worst and wicked maniacs.

Sean: 01:03:41

Uh, again, this is the worst one, please, uh, stick through.

Sean: 01:03:45

Uh, you can, you can, uh, yeah, this will take probably

Sean: 01:03:50

about a two to three minutes.

Josh: 01:03:53

Will my browser allow me to open it?

Sean: 01:03:55

It is on Reddit, so it's shit.

Sean: 01:03:58

It's shit.

Sean: 01:04:02

All right, Josh.

Sean: 01:04:02

That is your copy.

Sean: 01:04:03

Pasta to read.

Sean: 01:04:05

We should save the

John: 01:04:06

worst for last,

Sean: 01:04:08

uh, I guess.

Sean: 01:04:12

Okay.

Sean: 01:04:13

Uh, John, that's all you buddy.

Sean: 01:04:15

Yeah.

Sean: 01:04:16

Okay.

John: 01:04:19

All right.

John: 01:04:19

So this is from posted by username normal.

John: 01:04:24

I underscore gamer posted 13 days ago, not good at math.

John: 01:04:28

So that's December 7th, 2021.

Sean: 01:04:32

Wow.

John: 01:04:33

It's a found in R slash teenagers.

John: 01:04:37

They said, so I don't care about sex and whatever.

John: 01:04:40

So, um, I'm in GameStop with my friend, which is a female, and she

John: 01:04:44

decides, while I'm trying to look for a new game to just grab my

Sean: 01:04:48

PP,

John: 01:04:50

I'm sitting there unaffected with no boner, still looking for a game.

John: 01:04:56

She's shocked at how I don't care.

John: 01:04:58

And all I say is.

John: 01:05:00

Hands off

Sean: 01:05:00

my cock.

John: 01:05:02

She's like how Falco kind of says it in super

Sean: 01:05:05

smash bros.

Sean: 01:05:07

My cat,

John: 01:05:10

she won't respond to my text update.

John: 01:05:13

She texted me back just saying, quote, all right, this is kind of problematic.

John: 01:05:19

Please.

John: 01:05:20

Don't cancel me.

Sean: 01:05:20

Wicked maniacs.

Sean: 01:05:21

We're reading.

Sean: 01:05:22

We did not write this.

Sean: 01:05:23

We are reading what is on Reddit.

Sean: 01:05:25

It could be a general

Josh: 01:05:26

genuine concern or not concerned, but like, maybe she's just wondering

Josh: 01:05:29

why he wasn't interested in there.

Sean: 01:05:31

Again, there

John: 01:05:32

there's an update when they, she texted me back just saying,

John: 01:05:37

quote, are you gay or something?

John: 01:05:40

And I responded with quote, show me your moves.

John: 01:05:45

Now

Sean: 01:05:45

I'm blocked.

John: 01:05:49

And I love, I love the comments.

John: 01:05:51

The top comment was like, no, I am not.

John: 01:05:55

I am a gamer

Sean: 01:06:00

and then they linked our backslash gamers.

Sean: 01:06:07

You love to see a community?

Sean: 01:06:08

Yes.

Sean: 01:06:10

All right, I'll read this next one.

Sean: 01:06:12

Uh, this is from the user, the underscore Wombles posted 12 days ago.

Sean: 01:06:18

The title is my 24.

Sean: 01:06:22

Uh, my 24 female boyfriend, 27 male will not stop calling his come

Sean: 01:06:27

Greg nog during Christmas time.

Sean: 01:06:30

No,

Josh: 01:06:50

it wouldn't be a Gregg.

Sean: 01:06:57

I want to continue, but John is dying.

Sean: 01:07:02

Oh my God.

Sean: 01:07:06

Oh God.

Sean: 01:07:07

Okay, here we go.

Sean: 01:07:09

First off.

Sean: 01:07:10

I am not joking.

Sean: 01:07:11

I wish I was joking.

Sean: 01:07:13

I've been with my wonderful boyfriend, Greg for over four years now.

Sean: 01:07:19

And this Christmas will be our third spent together.

Sean: 01:07:23

He's so much fun to be around.

Sean: 01:07:25

He's handsome, he's charming.

Sean: 01:07:27

And our sex life is great except for one small problem.

Sean: 01:07:32

Every year now, starting in December, he starts referring to his cum as Greg nog.

Sean: 01:07:40

When I first heard him say this, it was in context of a joke.

Sean: 01:07:45

So I laughed and then I forgot it.

Sean: 01:07:48

A few days after this, we were exchanging some spicy texts

Sean: 01:07:51

before he gets home from work.

Sean: 01:07:53

And he says to me, in all seriousness quote,

Sean: 01:08:01

in all seriousness, I can't wait to pour Greg Naga all over your face.

Sean: 01:08:11

I could not believe he just said that to me, but I didn't know what else to

Sean: 01:08:16

do at the time, but go along with it.

Sean: 01:08:20

Fast forward to this December, the phrase has reentered his vocabulary

Sean: 01:08:25

at the S at the same time every year, it makes me cringe beyond belief.

Sean: 01:08:31

But until this year he used it.

Sean: 01:08:33

Sparingly enough for me to just be able to laugh and say, shut the fuck up.

Sean: 01:08:38

I'm not sure that 2020 has done.

Sean: 01:08:42

I'm sure that 2020 has done at least some you repair irreparable,

Sean: 01:08:47

psychic damage to all people.

Sean: 01:08:49

But unfortunately for my boyfriend, this has manifested in the form of

Sean: 01:08:53

him referring to his comp as Greg nog.

Sean: 01:08:56

Non-stop this month, he has been using the term almost exclusively in all contexts

Sean: 01:09:03

and it is driving me bat shit insane.

Sean: 01:09:06

I sat him down for the talk last week, where I asked him very clearly

Sean: 01:09:11

and directly to stop at the time.

Sean: 01:09:14

He said he would, and it did slow down for a few days, but as is now

Sean: 01:09:19

days before Christmas, and he is back at it again with no end in sight,

Sean: 01:09:24

he means the absolute world to me.

Sean: 01:09:26

And I saw myself spending the rest of my life with him, but I have some

Sean: 01:09:30

serious doubts now, whether or not I can, if every Christmas is going

Sean: 01:09:35

to be like this, so please read it.

Sean: 01:09:38

What do I do to make this stop for good.

Sean: 01:09:43

Oh, man.

Sean: 01:09:45

That

Josh: 01:09:45

is so good.

Sean: 01:09:50

Greg nog is the funniest thing.

Sean: 01:09:52

The comments said, uh, uh, quote, beta woman refuses to understand

Sean: 01:09:58

Greg Greg gillionaire grind set.

Sean: 01:10:01

And then somebody commented below that.

Sean: 01:10:05

And the woman he manages to impregnate and will be inevitably be pregnant.

Sean: 01:10:14

Oh my God, Greg man,

Josh: 01:10:17

coming up with the puns.

Sean: 01:10:18

I like it.

Sean: 01:10:19

I hate it.

Sean: 01:10:20

But, uh, that was the best one on Christmas.

Sean: 01:10:23

Good God goddammit.

Sean: 01:10:26

So that was the best one.

Sean: 01:10:28

And we're going to end the episode with the absolute low

Sean: 01:10:30

light, the absolute worst one.

Sean: 01:10:32

Uh, if you want to paraphrase it a little bit, Josh feel free.

Sean: 01:10:36

That is a lot.

Sean: 01:10:37

Just hit the main points.

Sean: 01:10:38

You know

Josh: 01:10:39

what I think would be fun, Shawn.

Josh: 01:10:41

Do our show notes now.

Josh: 01:10:43

And we'll end the show with me just saying,

Sean: 01:10:44

oh, okay.

Sean: 01:10:45

Cause people, people will, people

Josh: 01:10:47

will get out of here.

Josh: 01:10:50

It will be a contest to see who will last

Sean: 01:10:53

you, you get a free $10 video of me doing no, just kidding.

Josh: 01:11:00

We'll make this into an NFT.

Sean: 01:11:01

Yeah, exactly.

Sean: 01:11:03

All right.

Sean: 01:11:03

So the end of the episode, shout outs, uh, happy new year guys, 2022.

Sean: 01:11:09

Uh, same us.

Sean: 01:11:11

Sorry.

Sean: 01:11:11

Uh, but uh, if you liked the show, go ahead and rate us and review

Sean: 01:11:16

us on, uh, wherever you get your podcasts, like good pods, pod

Sean: 01:11:20

chaser, apple podcasts, Spotify now.

Sean: 01:11:23

So go ahead and do that and make sure to follow us on all social media.

Sean: 01:11:26

If you need to find that you can, uh, go to our website, read it on wiki.com

Sean: 01:11:31

that has all our links to everything.

Sean: 01:11:33

And, uh, yeah, just, uh, hop on with Josh.

Sean: 01:11:36

We do have a Patrion.

Sean: 01:11:38

It is the cultivate, a network Patrion.

Sean: 01:11:41

Now, instead of read it on Wiki, so you're getting content from a Reddit on Wiki.

Sean: 01:11:47

You're getting content from let's start a cult.

Sean: 01:11:49

You're getting content from content.

Sean: 01:11:52

You're getting content from the Dumbfoundead pod.

Sean: 01:11:54

And eventually you're going to get content from shots and thoughts, but,

Sean: 01:11:59

uh, yeah, that's it for this episode, no plugs, except for a happy new year.

Sean: 01:12:05

We are going to start, uh, we're supposed to be tracking our resolutions now.

Sean: 01:12:09

Let's see if that's still going on, but a baby, the Wiki way.

Sean: 01:12:14

Not new years for us technically.

Sean: 01:12:16

Yeah.

Sean: 01:12:16

Yeah.

Sean: 01:12:17

Technically this is December, but, uh, yeah, that's it for this episode.

Sean: 01:12:22

See you guys.

Sean: 01:12:23

Oh,

John: 01:12:24

I think that we can say it now because of the second week of January.

John: 01:12:28

This

Sean: 01:12:28

is, this is, oh yeah.

John: 01:12:31

So shout out to our cultivate cultivate podcast network network, man.

John: 01:12:35

Shout out to let's start a Colt shout out to shots and thoughts.

John: 01:12:38

Shout out to our show, read it on Wiki.

John: 01:12:40

Shout out to pineapple pizza podcast, shout out to yield crime,

John: 01:12:44

shout out to weird distractions.

John: 01:12:45

And we're going to bring on some people in the

Josh: 01:12:48

future.

Josh: 01:12:49

He forgot his own

Sean: 01:12:49

podcast.

Sean: 01:12:50

Shawn don't found dead.

Sean: 01:12:52

The Dumbfoundead guys might be having an episode

Josh: 01:12:55

this week, right?

Josh: 01:12:56

Oh, that's true.

Josh: 01:12:57

We're going to be

John: 01:12:57

recording next week.

John: 01:12:58

So after seven months,

Josh: 01:13:01

no, I mean like when this episode comes out,

John: 01:13:04

oh yeah, it comes out January 10th.

Sean: 01:13:06

So it'll be around

John: 01:13:09

the same time.

John: 01:13:09

It's actually going to be the same day.

John: 01:13:11

So hi

Sean: 01:13:11

guys, this is a different network podcast, but I want to give them a special

Sean: 01:13:16

shout out because they, they gave us a lot of love on their huge announcement too.

Sean: 01:13:20

So I feel like it's fair, but, uh, shout out to the summit state of

Sean: 01:13:24

mind, boys, they just became the.

Sean: 01:13:27

Official Houston rockets, fan cited podcast for, uh,

Sean: 01:13:31

for the website fan cited.

Sean: 01:13:33

They're exclusive with that network.

Sean: 01:13:35

And, uh, they gave us a lot of love.

Sean: 01:13:37

The shout out, shout it out our episode a lot.

Sean: 01:13:40

And particularly said that the Superman one was their current favorite.

Sean: 01:13:44

So wait,

Josh: 01:13:45

they went with another network.

Josh: 01:13:47

Fuck them.

Sean: 01:13:48

Oh shit.

Josh: 01:13:51

No kidding.

Josh: 01:13:52

Good for them there.

Josh: 01:13:53

I'm glad they, they found a, a network that works for them.

Josh: 01:13:57

So, yeah.

Sean: 01:13:58

Awesome.

Sean: 01:13:58

Shout out to them.

Sean: 01:13:59

Uh, they gave us a lot of love on their episodes, so, uh, give them

Sean: 01:14:04

a shout out if you like, uh, the MBA, but uh, yeah, go Phoenix.

Sean: 01:14:09

Suns.

Sean: 01:14:10

Yeah.

Sean: 01:14:10

Phoenix suns are tied to they're cool too.

Sean: 01:14:12

All right.

Sean: 01:14:13

But, uh, that's it for this episode.

Sean: 01:14:15

We'll see you guys later.

Sean: 01:14:16

We're going to end with Josh's beautiful rendition.

Josh: 01:14:21

I've

Sean: 01:14:21

read it.

Sean: 01:14:22

Here we go.

Sean: 01:14:23

Bye guys.

Sean: 01:14:24

Oh, wait,

John: 01:14:24

hold on.

John: 01:14:25

I shot Sean.

John: 01:14:25

You need to add like background music to the shit while he's saying

John: 01:14:28

it.

Sean: 01:14:28

So it's one year.

Sean: 01:14:29

Oh, can you, uh, you're going to have to send me that, uh, that thing

Sean: 01:14:33

that you said we have with the music and the sound effects, I'm sure

Sean: 01:14:35

it's the same login for everything.

Sean: 01:14:37

All right.

Sean: 01:14:37

I'll find it.

Sean: 01:14:38

I'll put something in here.

Sean: 01:14:41

All right, we'll play you out.

Sean: 01:14:42

Josh.

Sean: 01:14:43

Women of Reddit.

Sean: 01:14:45

Here we go.

Sean: 01:14:46

Women

Josh: 01:14:47

have read it 18 feet.

Josh: 01:14:49

What is the most sexual sexy sex, sex, sexual sexy, factual, sexiest, sexier

Josh: 01:14:56

sex, sexual sexual sexy sex, sex, sexual sexy sexual sexist, sexy, or sex,

Josh: 01:15:04

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Josh: 01:15:12

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Josh: 01:15:21

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Josh: 01:15:29

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Josh: 01:15:38

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Josh: 01:15:45

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Josh: 01:15:58

Sexual sexy, sexual sexist, sexier sex, sexual 56 male sexual sexy sex, sex,

Josh: 01:16:07

sexual sexy sexual sexiest, sexier sex, sexual sexy, old, sexy sex, sexual,

Josh: 01:16:16

sexy, or sexy is sexy sex, sex, sexual.

Josh: 01:16:21

So.

Josh: 01:16:21

Sexy sexy, sexual sexy sexual sexist, sexier sexual sexy, sexual sexiest,

Josh: 01:16:30

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Josh: 01:16:38

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Josh: 01:16:47

sex, sex, sexual sexy sexual Alexia, Lexi, or sex, sexual sexual sexy sex.

Josh: 01:16:55

The sexual sex and sexual sexist, sexier sex, sexual sexual, sexy sex, sex, sexual

Josh: 01:17:02

sexy, sexy sexual sexiest, sexier sex, sexual sexual, sexy sex, sex, sexual

Josh: 01:17:09

sexy, sexual sexiest, sexier, sexy sex, sexual things you have done to an

Josh: 01:17:16

anti-social 36 year old man living with his parents and spend 16 hours a day.

Josh: 01:17:20

Addressing

Sean: 01:17:27

well done.

Sean: 01:17:27

My friend.

Sean: 01:17:28

Well done Josh.

Sean: 01:17:29

That's it for this week's

Josh: 01:17:30

episode.

Josh: 01:17:32

Love you guys.

Josh: 01:17:33

If you make that tweet at us

Sean: 01:17:35

tweet at us tweet at us the last line of this segment and we'll,

Sean: 01:17:39

uh, We'll give you a shout out.

Sean: 01:17:41

That's all we can give you.