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Comment by JumpinJack_Cash | Hacker News Reader

You can consume a Fortnite skin or a Call of Duty weapon.

The point is that you cannot consume crypto, it's a problem which is understood inside the community, that's why the push for NFTs which started as legitimate art to enjoy on huge 8K screens or VR headsets but quickly ended up becoming Twitter avatars built for the purpose of trading and offloading to a bigger fool.

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You consume it by trading it or, for a direct analog to your example, by showing off your wallet balance. Your Fortnite skin is no more consumable than a BTC. It just has a different value and use.

> > You consume it by trading

Hence the SEC is right to clampdown on crypto for violations of securities law, in order to prevent bubbles that emerge when the only use for something is trading it for something else. We already have that, people who want to participate in that game know where to go, the stock market.

> > for a direct analog to your example, by showing off your wallet balance

That's the most circular thought I've ever heard.

1st, you need to read up on how commodities and securities are regulated. 2nd, showing off your wallet balance is the same as showing off your NFT, and NFTs, digital skins, etc. are all obviously consumables.

Trading a commodity doesn't consume it. If I trade a hamburger, the hamburger isn't consumed. It's only consumed when I eat it.

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