Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Khane
Got something right about marriage
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Selling an NFT is like trying to sell the provenance, not the art itself. This is what has been going on with NFTs, this is what people are arguing. The original tweet about creating an NFT of a diamond and then proclaiming the NFT is now worth what the diamond is and it doesn't even matter if the diamond is destroyed is what has been argued for probably 50 pages at this point.
NFTs are not actually worth anything, just because people have been paying for them doesn't change that fact. These people have been duped, just like minimum wage workers in 2006 buying a 400k home that was only worth 150k 3 years prior were duped into thinking these were real valuations of real assets that could only go up.
James
Ahn'Qiraj Raider
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Newp, it started with Visa buying a Cryptopunk and me explaining that NFTs are a non-fungible store of value like land.
Everyone right now is wondering A) will there be another 75-90% drop that spans years? B) will Cryptopunks also follow that trend? Most everyone seems to think yes on B if A is true, but NFTs are super illiquid so there's some debate. Some are arguing that the NFT market is the best hedge against crypto winters.
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See? Now that's an interesting take. That's like investing in gold when you thinks stocks are going to drop and vice versa. Not sure I agree, but crazier things have happened than this scenario.
Collectables were always a shit investment. The only collectables that are worth anything are the ones made from before anybody had any notion to save and preserve them. That's why they are rare, and that rarity is why they are valuable.
When I was buying comic books in the 90s, they all had 'COLLECTOR'S EDITION' and crap written on the covers. They printed millions of them and everybody was storing them carefully and not reading them for risk of lowering their value. My mom bought 'death of superman' books and she certainly didn't read them. Those are now worth like $30? Maybe? The worst time to invest in collectables (which are shitty investments to begin with) is during the mania. The only reason my collection may be worth a few grand is because wokeism killed the industry.
I still have my Griffey rookie cards too. The only ones worth anything are cased mint quality cards which have been appraised. Upper Deck ungraded cards look to be going for sub $100 on ebay right now. Topps cards are like 5 bucks. If you had successfully gambled that Griffey's career would have ended up as good as it did and bought 1,000 cards 30 years ago, you'd now have the problem of having them all appraised and flooding the market with them when you wanted to cash out.
When I was buying comic books in the 90s, they all had 'COLLECTOR'S EDITION' and crap written on the covers. They printed millions of them and everybody was storing them carefully and not reading them for risk of lowering their value. My mom bought 'death of superman' books and she certainly didn't read them. Those are now worth like $30? Maybe? The worst time to invest in collectables (which are shitty investments to begin with) is during the mania. The only reason my collection may be worth a few grand is because wokeism killed the industry.
I still have my Griffey rookie cards too. The only ones worth anything are cased mint quality cards which have been appraised. Upper Deck ungraded cards look to be going for sub $100 on ebay right now. Topps cards are like 5 bucks. If you had successfully gambled that Griffey's career would have ended up as good as it did and bought 1,000 cards 30 years ago, you'd now have the problem of having them all appraised and flooding the market with them when you wanted to cash out.
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Arden
Blackwing Lair Raider
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Definitely true. The oldest and most valuable baseball cards came with a pack of gum. Meaning, it was the gum you were interested in buying and the baseball card was just this little bonus no one cared much about.
There are really two arguments going on in this thread and people are conflating them. One argument involves the value of art/collectibles and the other involves the nature and utility of NFTs.
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LachiusTZ
Rogue Deathwalker Box
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Some people smear shit on their bodies and cut off their dicks.
But I wouldn't recommend it
James
Ahn'Qiraj Raider
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More than fine, but that doesn't mean Cryptopunks aren't legitimately valuable, or that NFTs cannot be pieces of art in their own right:
Tmac
Adventurer
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More than fine, but that doesn't mean Cryptopunks aren't legitimately valuable, or that NFTs cannot be pieces of art in their own right:
My personal preference is anecdotal.
Mist
REEEEeyore
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James
Ahn'Qiraj Raider
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James take a look at that vEMP token. I read a bit of their white paper but a lot of it went over my head... something about fucking over decentraland? Seems interesting but also maybe overambitious, like a Pomeranian chasing a truck.
So this looks a lot like what Deadbears are doing, converting their treasury from ETH to an alt coin ($FLOKI or $VEMP) and distributing that to people who stake their NFTs. I have a lot of faith in $FLOKI and Deadbears in general, they're almost finished minting!
Adebisi
Clump of Cells
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The way I see it I can infinitely copy the Mona Lisa if I wanted as well.
It's all about how people perceive the value of something, even if digital.
I dunno. Just go with it
Tmac
Adventurer
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