NFT's? WTF??

[avid]

What you don't hear of is the genuine losers. It reminds me of bookies and betting, some people only want to tell you of their 7 timer accumulator coming in not the 20 bets previously that ducked.

Some people have lost all their life savings in crypto and NFT's.

I'm gonna make one I got told it's not hard so on that note "not hard", I'm gonna call it "Captain Floppy" and draw a fed up looking penis, different hats, spurting jizz, cowboy outfit, stegyed floppy, etc

For there to be a winner there has to be a loser similar to the old pryamid scheme back in the 80's. It's were people believe those at the top to buy or give you money

You only lose if you sell or buy shit coins and don’t do your research. The people who loss are those who panic and sell or fomo when the prices are at all time highs.
Then when it drops they panic and lose faith and money. Bitcoin in 2017 peaked at just over £13000 and then went as low as £2500 but last month it was nearly £50000 a coin. It is volatile but every four years on the halving it has always beating it’s all time high.
I’m not trying to give financial advice I’m just stating the facts.

 

[avid]

@dar1437 Here have look Michael Saylor
CEO of Micro strategy.
MicroStrategy CEO Michael Saylor’s 17,732 BTC Holdings Now Worth $1.1B

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[dar1437]

Do all Cryptocurrencies work in a similar fashion, ie are they all mined?

 

[avid]

Do all Cryptocurrencies work in a similar fashion, ie are they all mined?

No some are proof of stake, so money invested into the network. Bitcoin is proof of work so mined. Ethereum is proof of work at the moment is but it is transitioning to proof of stake next year.
If you ever think of investing your £1 don’t buy when the price’s are high.

 

[dar1437]

So Ethereum will work in a very similar way to Bitcoin?
In the video, the guy make's out that it's completely unique.
Surely if you can have other currencies that do/ work/ can be used in similar fashions, it's not really that unique?

 

[avid]

The thing about bitcoin is that it is fully decentralised as there is no CEO and nobody knows the inventor. The ledgers are fully transparent and can be viewed by anyone publicly.
It has double the market cap of its nearest rival and there will only be ever 21 million in existence.
It’s called Digital gold for a reason. It has no leader and you know what happens to leaders they can be corrupted.
I think that’s why he believes it’s unique.
Satoshi Nakamoto(alias) either invented it play the biggest scam the world has ever seen or to say f*ck you to all the governments and bankers that have controlled our lives throughout history.
It’s the king at the moment but something might flip it eventually, maybe Ethereum.
Only time will tell

Ethereum is transitioning to proof of steak so will no longer be mined probably next year.

If go back to 2014 there was about 5.7 billion dollars in Crypto but today there is 2.178 trillion dollars in it and it has been as high as 3 trillion.
It is volatile more so than traditional stock markets but it is growing.
Bitcoin is the best performing asset in the world in the last 10 years. I can’t give you the answer why,it just is.
I will give you one bit of advice if you can’t control your emotions do not get into cryptocurrencies because it can bring you down but It can also give you highs.
It is risky and never put more money in than you are willing to lose. Research is key.

 

[dar1437]

Apologies if it seems like i'm trying to rain on your parade Av, but when someone sort of champions something, i feel it my duty to play the Devils advocate sort of thing. lol

 

[avid]

Apologies if it seems like i'm trying to rain on your parade Av, but when someone sort of champions something, i feel it my duty to play the Devils advocate sort of thing. lol

No worries pal I wouldn’t tell anyone to invest their money into crypto currency nor would I give them any financial advice I do my own thing and tried to be honest.
You never know it might be the biggest scam the world has ever seen.

 

[avid]

 

[chookey]

I often feel the World is going mad. Stories like these just confirm it.

The guy sold non physical "art" using non physical "currency". None of it is actually real. His loss however is very real. I'm trying not to laugh but it's not easy.

Just to add to my post above
Painting by a pig sells for £20,000

 

[avid]

Just to add to my post above
Painting by a pig sells for £20,000

All I can say is it must’ve been worth 20 grand to the person you bought it and they probably got more money than sense
The old saying you can’t take it with you

 

[Mick]

Some of it is stupid of course, just saying out loud I bought a digital artwork picture of a pig for 20K is beyond madness.

But seriously you will be buying your:

• Flight tickets as NFT's (if we ever get out of the uk again lol).
• Concert tickets will be NFT's
• Trains tickets
• Card games like top trumps
• MP3 Albums, etc
• Loads of things, the list of what you can use it for is endless.

DC universe has already brought out all the characters as NFT's
Basketball and Sports teams are starting to bring out NFT's in America.
Bands are starting to use them.

It's also impossible to fake an NFT as it runs on the same rules as Blockchain.
Example - you hack some website you can change something that changes everywhere - as its centralised.
You try and hack a blockchain you need access to everyones Mining Machines on the planet at the same time - de-centralised.
Mining is when a miner (computer owned by a human) checks a transaction is real and you are rewarded in a fraction of the coin for checking the transaction is real. if the hash (puzzle) comes back incorrect it gets pushed to another miner. so bob in London's machine is hacked, that then gets pushed to Fred in Australia, then bill in Pakistan...

I like it as its de-centralised, this is the key.
This means we own it, not the banks, not the governments, of course it needs regulation but we get to decide on that.

You cut out the greedy middlemen - and it's all on online ledgers for everyone to view.

 

[avid]

Some of it is stupid of course, just saying out loud I bought a digital artwork picture of a pig for 20K is beyond madness.

But seriously you will be buying your:

• Flight tickets as NFT's (if we ever get out of the uk again lol).
• Concert tickets will be NFT's
• Trains tickets
• Card games like top trumps
• MP3 Albums, etc
• Loads of things, the list of what you can use it for is endless.

DC universe has already brought out all the characters as NFT's
Basketball and Sports teams are starting to bring out NFT's in America.
Bands are starting to use them.

It's also impossible to fake an NFT as it runs on the same rules as Blockchain.
Example - you hack some website you can change something that changes everywhere - as its centralised.
You try and hack a blockchain you need access to everyones Mining Machines on the planet at the same time - de-centralised.
Mining is when a miner (computer) checks a transaction is real and you are rewarded in a fraction of the coin for checking the transaction is real. if the hash (puzzle) comes back incorrect it gets pushed to another miner. so bob in London's machine is hacked, that then gets pushed to Fred in Australia, then bill in Pakistan...

I like it as its de-centralised, this is the key.
This means we own it, not the banks, not the governments, of course it needs regulation but we get to decide on that.

You cut out the greedy middlemen - and it's all on online ledgers for everyone to view.

I think this was Satoshi’s dream to take the power away from the governments, Bankers and the middleman and give it to the people… well I hope so anyway

 

[avid]

The use case for Blockchain technology is vast and I think it’s just the beginning.
We will have to see what the advancement of quantum computers bring in the near future.

 

[avid]

I know remember on here @bilabonic has done well from crypto. I’d like to know his thoughts on Blockchain, crypto and where he thinks it is going.