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Ray Houghton
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Points: 3927 		Post Options Post Options   Thanks (0) Thanks(0)   Quote irish_major Quote  Post ReplyReply Direct Link To This Post Posted: 27 Jan 2022 at 10:57am
Originally posted by McG McG wrote:

NFTs lads, what’s the focking story? Fools and their money or am I missing something?

Anyone who tried to convince me that NFTs are going to have any value (other than being a valuable tool for money laundering) would be told that they are a total f**king idiot. 
Here we go again
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Fee people will get rich off it. Majority will make feck all or lose lots
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Originally posted by Shedite Shedite wrote:

Originally posted by McG McG wrote:

NFTs lads, what’s the focking story? Fools and their money or am I missing something?
NFT is a technology concept that covers a load of things, the first thing it's being used for is art which is a bit beyond me, but then again so is regular wall art. I can see how an artist would prefer to sell their art as NFT, where you can apply terms, so you sell your art, but retain a 10% ownership of future sales. 

The criticisms of Art as NFT's are that...
 - shure couldn't anyone just copy that. Well you can buy a print or take a picture of the Mona Lisa too, doesn't mean you own it.
 - you have the art on computer, what good is that. Most art collectors, buy art to appreciate in value, not to hang in their hallway. If you think it goes up in value, having it on computer is easier to store than a vault.

Royalties is one piece that a lot in entertainment seem to think it might break into. Currently royalties for playing a song on radio, or running an old episode of Only Fools and Horses, generates a cheque of 50c or whatever to everyone involved. This could make that whole process a lot more seemless.

If you're interested in it, there's a great podcast called Bankless, Mark Cuban did an episode about 2 years ago that he talks through a lot of ideas he has for how he could use it.

There's no intrinsic value though, you can't do anything with it at all. At least stocks, gold etc have something backing up their value.

Going to be a lot of people stung by it. John Terry is pushing some sh*te line of it lately. 
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I'm up a little bit from last year on cardano, took my stake and some profit out over the year and I've just got 800 quid left in which was profit. I'm gonna carry on buying 50 quid every month as I think it'll eventually go to £3-5 but if it doesn't I've not lost my pension or anything.
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Jack Charlton
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Originally posted by nvidic nvidic wrote:

Originally posted by Shedite Shedite wrote:

Originally posted by McG McG wrote:

NFTs lads, what’s the focking story? Fools and their money or am I missing something?
NFT is a technology concept that covers a load of things, the first thing it's being used for is art which is a bit beyond me, but then again so is regular wall art. I can see how an artist would prefer to sell their art as NFT, where you can apply terms, so you sell your art, but retain a 10% ownership of future sales. 

The criticisms of Art as NFT's are that...
 - shure couldn't anyone just copy that. Well you can buy a print or take a picture of the Mona Lisa too, doesn't mean you own it.
 - you have the art on computer, what good is that. Most art collectors, buy art to appreciate in value, not to hang in their hallway. If you think it goes up in value, having it on computer is easier to store than a vault.

Royalties is one piece that a lot in entertainment seem to think it might break into. Currently royalties for playing a song on radio, or running an old episode of Only Fools and Horses, generates a cheque of 50c or whatever to everyone involved. This could make that whole process a lot more seemless.

If you're interested in it, there's a great podcast called Bankless, Mark Cuban did an episode about 2 years ago that he talks through a lot of ideas he has for how he could use it.

There's no intrinsic value though, you can't do anything with it at all. At least stocks, gold etc have something backing up their value.

Going to be a lot of people stung by it. John Terry is pushing some sh*te line of it lately. 

What's the intrinsic value of some paint on a piece of canvas tho? The only value on anything like that is what someone is willing to pay for it.

Even the intrinsic value of gold hasn't been tied to currencies since the 1930s. 
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Fair points, gold cna be used to make jewellery though, it does have some intrinsic value.

At leats art can be hung up and admired, you're not hanging up a NFT to look at. The majority anyway, some do include physical pieces. 
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Like everything there will be a small percentage of wealthy people who will/already have made a lot of money out of digital currencies however there will be a huge percentage of regular joe's trying to make a quick buck who will be left holding the baby!
I could agree with you but then we'd both be wrong.
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Jack Charlton
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Originally posted by nvidic nvidic wrote:

Fair points, gold cna be used to make jewellery though, it does have some intrinsic value.

At leats art can be hung up and admired, you're not hanging up a NFT to look at. The majority anyway, some do include physical pieces. 
There's two types of art as I see it...
- Art that people hang up to look at, which people buy to use and don't expect to resell
- Art that people but as investors that they plan to sell for more at a later date. That's what Art NFT's can replicate. 

I'm not into either, FWIW
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Jack Charlton
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Originally posted by nvidic nvidic wrote:

Fair points, gold cna be used to make jewellery though, it does have some intrinsic value.

At leats art can be hung up and admired, you're not hanging up a NFT to look at. The majority anyway, some do include physical pieces. 

Plenty of people displaying art on screens in their homes now tbf. Screensavers on tvs hanging on walls made to look like artwork for example. Who's to say a unique piece of digital art secured on an NFT blockchain wouldn't be used like that? 

Even jewellery, it's only because people put a value on it that it has value. I know there's a connection to the rarity of specific metals but it's still demand that drives value, nothing else.

I do find it quite bizarre all the same but it's just supply and demand really. 
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Roy Keane
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My understanding is that the NFT is how the first tweet was sold.
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Weren't NFT's created as a platform in which Ethereum could be used as currency? As in the currency coming before the product which it is valued against. Surely if a product has to be created in order to make a currency functional, then the currency itself really has no value at all. 

I don't know much about crypto, but having listened to McWilliams' podcast last week, it seemed like this was the case.
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Jack Charlton
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Originally posted by The Huntacha The Huntacha wrote:

Weren't NFT's created as a platform in which Ethereum could be used as currency? As in the currency coming before the product which it is valued against. Surely if a product has to be created in order to make a currency functional, then the currency itself really has no value at all. 

I don't know much about crypto, but having listened to McWilliams' podcast last week, it seemed like this was the case.
Ethereum is one of the most usable of all the Cryptocurrencies. Bitcoin is like money, can be exchanged for good and services, but can only handle about 7 transactions a second so is never going to be able to be used as a money replacement. Ethereum is like programmable money. You can say "Pay this amount when scenario x is complete". So it opens a load of use cases around smart contracts, insurance, healthcare and pretty much anything you can think of. Whoever comes up with the right use case will be the one who makes Billions on it.

The link to NFT is correct in that you buy NFT's with Ethereum. I reckon a lot of the big time NFT investors are probably people who made a lot in Ethereum, and wanted something less volatile with some of their ethereum. 
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Are Revolut listing Shiba with their latest teaser? They already have DOGE. 
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Originally posted by Zinedine Kilbane 110 Zinedine Kilbane 110 wrote:

Originally posted by Bob Hoskins Bob Hoskins wrote:

But let's put our money where our opinions are. 

You can pick any 5 assets we put a hypothetical €50 on each of them. I'll stick with my five above and in 2 years time today what ever the price difference is the loser donates that money to Aoibheann' Pink Tie Thumbs Up 



Ha I’m not against Bitcoin, just think it’s very high risk and people should manage their risk. 
I would put a bet that on 8th Feb 2031 the Nasdaq out performs Bitcoin from here.
The problem with a 2 year period, it’s too short and is a bet if the next stock market crash happens before then.
If there is no crash Bitcoin will prob be higher but if there is a crash Bitcoin falls much lower.

8th Feb 2021
Nasdaq @ $14,000
Bitcoin @ $43,750

ZK we are at half way point in this bet. Although I didn't realise you had extended your side to 10 yearsLOL. I'll be living in my gold tower by then. 

Some surprising prices Bitcoin and Nasdaq are the same 1 year on. 

I picked the closing price of each date https://coinmarketcap.com/coins/

Nasdaq price Feb 8th 2021: Usd $14,000
Nasdaq price Feb 8th 2022: Usd $14,194.45

Bitcoin price Feb 8th 2021: €38,329.67
Bitcoin price Feb 8th 2022: €38,630.60 +
Bitcoin price Feb 8th 2023: ?

Ethereum price Feb 8th 2021: €1,449.19
Ethereum price Feb 8th 2022: €2,734.19 +
Ethereum price Feb 8th 2023: ?

Cardano price Feb 8th 2021: €0.5663
Cardano price Feb 8th 2022: €1.03 + 
Cardano price Feb 8th 2023: ? 

Chainlink price Feb 8th 2021: €21.12
Chainlink price Feb 8th 2022: €16.13 - 
Chainlink price Feb 8th 2023: ?

Polkadot price Feb 8th 2021: €19.11
Polkadot price Feb 8th 2022: €18.99 -
Polkadot price Feb 8th 2023: ?
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Will crypto be all over the super bowl later? Time to fill a bag with some Doge?
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Originally posted by McG McG wrote:

Will crypto be all over the super bowl later? Time to fill a bag with some Doge?
There's lots of ads anyway, not sure it's a sell signal
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Looks like good signs for xrp vs SEC
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How are the crypto converts viewing the current slump?
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