Non-Fungible Tokens, and how they are a non-fungible store of value like land.
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James
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Rajaah
Honorable Member
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LOL at the title of this thread.
This is probably a good place to say thanks for the heads-up on TrueBit and I wish I'd gotten into it even more. My $3000 investment turned into $4200 and counting, and that's through the great Reuters crash.
Anyway, back to the NFTs.
This is probably a good place to say thanks for the heads-up on TrueBit and I wish I'd gotten into it even more. My $3000 investment turned into $4200 and counting, and that's through the great Reuters crash.
Anyway, back to the NFTs.
Rangoth
Blackwing Lair Raider
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The one disagreement i have with the land analogy is that land is finite and a resource desired/needed by all. While any given type of NFT may be limited, there can be endless different types of NFTs. So really unless you are hooked into a single one for some reason its not a big deal really.
I like the idea as it relates to real world things, like tickets at concert/sports event, tethering it to a rare item as proof of authenticity, etc.
I know im missing out on millions, but i dont really understand the craze around the stupid bitmaps of shit. I know people are getting rich(wish i was one of them) but i see this particular interation as a fad that will fade. I looked into one of those links you sent and unless i was reading the auction site incorrectly, it seems like the history of many things did not prove a continued increase in sale value. Happy to keep learning though.
I like the idea as it relates to real world things, like tickets at concert/sports event, tethering it to a rare item as proof of authenticity, etc.
I know im missing out on millions, but i dont really understand the craze around the stupid bitmaps of shit. I know people are getting rich(wish i was one of them) but i see this particular interation as a fad that will fade. I looked into one of those links you sent and unless i was reading the auction site incorrectly, it seems like the history of many things did not prove a continued increase in sale value. Happy to keep learning though.
James
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Yes, the human imagination is an endless landscape, but that doesn't mean the economic activity centers built within that landscape aren't just as finite as any real world economic activity center, e.g. a city. There's shitloads of buildable land all across the US, but for some reason we just keep building taller buildings on the same plots of land? It's the same exact concept with NFTs - Bored Ape Yacht Club represents over a billion dollars worth of economic activity, and there are a very limited number of ways to stake out a position in that activity.
I'm not sure why anyone would expect any asset to always appreciate in value?
EDIT: Also, just to be a pedantic asshole, land being finite assumes Humans never make it off of Earth or out of the solar system.
Rangoth
Blackwing Lair Raider
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I dont expect it to, but reading your posts about how you buy little pics of bunnies for .01ETH and then flipped it for .5ETH or whatever. Im sure you did and its possible, but i looked at a ton of shit for sale and its sale hsitory, trend was mostly down
James
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My last big sale was last week, it has been in a down trend mostly for a week or so, but that's how it do. At the start of August, when we started talking about this, was the time to get in on a lot of this, which I sold a hair under $30k worth. Would have been happy to point you in some good directions at the time if you spoke up!
My most profitable collections so far:
The Wolfgang (this is all thanks to Floyd Mayweather Jr, however, so it may be discounted)
Lazy Lions
Wicked Ape Bone Club
FLUF_World
Ciphersquares
Blockchain Bikers
Curio Cards
Lonely Alien Space Club
My most profitable collections so far:
The Wolfgang (this is all thanks to Floyd Mayweather Jr, however, so it may be discounted)
Lazy Lions
Wicked Ape Bone Club
FLUF_World
Ciphersquares
Blockchain Bikers
Curio Cards
Lonely Alien Space Club
James
Ahn'Qiraj Raider
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Just 7k to get in, can probably flip it for a lot more in a couple of weeks.
James
Ahn'Qiraj Raider
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I suppose it depends on what you're talking about specifically. If you are talking about a specific NFT collection, it's a lot like the Second Life example, actually. You don't have any guarantee that value will be maintained post-hype, so you need to be careful with your investments and find teams/projects that you believe have staying power. If you're talking about PFP NFTs in general, the argument is that your digital self will need to express itself in the metaverse - I'm working on a big post about Loot which goes into this more, but they are actually creating characters based on your Loot metadata. If you're talking about NFTs in general, the Ethereum ecosystem and object permanence will create long term historical value for many of these pieces, e.g. Curio Cards, MoonCats, and Etheria were all dormant with unfinished mints from 2017 through March of 2021 just about, but now are exploding in value.
LachiusTZ
Rogue Deathwalker Box
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We need to repeat the image vs ETC NTF conversation for you again?
I would think a half dozen pages of you being the only person that couldnt understand what everyone else was talking about, would be enough.
Maybe not.
James
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Yes, go ahead, please go over your argument here again so that I can deconstruct it all over again and expose you for the flailing retard you are. You cannot copy an NFT, which is a non-fungible store of value like land. In fact, in the second post in this thread you can read the EIP-721 specification which refers to NFTs as deeds, because that's a great way to think about them.
But no, according to LachiusTZ I can just copy an image, create a new NFT, and make yours worthless, because I can't handle being wrong after looking like a total retard for dozens of posts.
But no, according to LachiusTZ I can just copy an image, create a new NFT, and make yours worthless, because I can't handle being wrong after looking like a total retard for dozens of posts.
James
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Like this is super simple shit, here:
Do you agree that:
A) Land is non-fungible.
B) Land is a store of value
And:
A) Non-Fungible Tokens are non-fungible.
B) Non-Fungible Tokens are a cryptocurrency.
C) Cryptocurrencies are a store of value.
But no, all you keep crying about is how you can right click and save an image to your desktop like the mental fucking space cadet you are.
Do you agree that:
A) Land is non-fungible.
B) Land is a store of value
And:
A) Non-Fungible Tokens are non-fungible.
B) Non-Fungible Tokens are a cryptocurrency.
C) Cryptocurrencies are a store of value.
But no, all you keep crying about is how you can right click and save an image to your desktop like the mental fucking space cadet you are.
James
Ahn'Qiraj Raider
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Go ahead and check out that Bored Ape Yacht Club collection: https://opensea.io/collection/boredapeyachtclub
Look at all these dumbasses with their NFTs that you can just copy and tank the value of. You know, that's a great idea, why don't you get started on that, you stupid motherfucker? Tank that BAYC value, should be so easy since it's just a matter of putting them on another blockchain, right?
Look at all these dumbasses with their NFTs that you can just copy and tank the value of. You know, that's a great idea, why don't you get started on that, you stupid motherfucker? Tank that BAYC value, should be so easy since it's just a matter of putting them on another blockchain, right?
