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Thread: Crypto Currency

  1. #211
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    Default Re: Crypto Currency

    Quote Originally Posted by Atomic Wedgy View Post
    NFT are going bananas, but I dont really have money to put into everything. Pretty happy with what I have.
    Yeah it feels so frothy like it's going to come crashing down hard soon, but who knows. Nothing in the space makes much sense.

  2. #212
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    Default Re: Crypto Currency

    So let me get NFT's straight...It's like owning a 1 of a kind painting. Except it's digital. And the only thing that says that it's 1 of a kind and not just a copy is the info written in the code proving it's 1 of a kind?

    I've never understood the reason for spending thousands on a piece that is the same thing as a copy in every detail that you visually see.
    12 Team, H2H, Keep 6 (in Bold)
    G, A, Pts, PPP, FW, SOG, Hits, Blocks
    W, Saves, S%, GAA, Game Started
    2C, 2LW, 2RW, 4D, 1Util, 2G, 5BN, 2IR, 1IR+, 1NA

    C: Horvat, Trocheck
    LW: J. Robertson, Byfield (C), Guenther
    RW: Pavelski (C), Giroux (C), Svechnikov (LW)
    D: Fox, Makar, Bouchard, Morrissey, Gudas
    Util: Meier (LW, RW)
    G: Oettinger, Georgiev, Samsonov, Woll


  3. #213
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    Default Re: Crypto Currency

    Quote Originally Posted by 2014olympicgold View Post
    So let me get NFT's straight...It's like owning a 1 of a kind painting. Except it's digital. And the only thing that says that it's 1 of a kind and not just a copy is the info written in the code proving it's 1 of a kind?

    I've never understood the reason for spending thousands on a piece that is the same thing as a copy in every detail that you visually see.
    Provenance and proof of ownership IS art. It's the entire art industry. Having all of this on the blockchain, and able to move it to a new owner seamlessly is huge. Or even with collectibles. Think of the money tossed around to send cards into get graded by a third party grader to not only confirm what condition they are in, but also whether they are legitimate. The legitimacy side of things is completely store din an immutable/unchangeable way on-chain. It's actually really useful.

    Now, all of that being said, the NFT space is massive speculation and gambling at the moment. It's completely berserk. But we shouldn't be completely surprised by this. Massive money was already being tossed around on digital collectibles before NFTs ever existed. A single set of NFL Fortnite skins, something that holds no utility, and can only be used within the game itself, earned 50 million dollars for Epic Games. This was already happening.

    But when all of the froth goes away at the next crash, there is still going to be the utility of an NFT that is super valuable, and there will also be the 0.00001% of the art/collectibles that people will value immensely.

    NFTs goes far beyond just art and collectibles though. This is just the entryway for a lot of speculators. But think of the utility of having your house deed be stored on the blockchain in a similar way. Currently they are stored in a physical location and you need to go locate them. It's actually absurd.

    There's also some really interesting use cases for their uses in supply chain management.

    I don't buy the arguments for a lot of uses for blockchain technology and the idea that it is some sort of utopian thing that is going to fix everything is also crazy, but there are real world uses for them that we are only getting started with and it's going to be interesting to see what happens as time goes on.

  4. #214
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    Default Re: Crypto Currency

    Ya I don't get the art NFT market. I don't get art market in general, it's all consumer driven to say the value of something. I especially don't get the NFT art market when it's an electronic file. It would make more sense to be that you buy a piece of art on a canvas or something, and it comes with a digital copy of it.

    Call me close minded tho lol.
    12 Team, H2H, Keep 6 (in Bold)
    G, A, Pts, PPP, FW, SOG, Hits, Blocks
    W, Saves, S%, GAA, Game Started
    2C, 2LW, 2RW, 4D, 1Util, 2G, 5BN, 2IR, 1IR+, 1NA

    C: Horvat, Trocheck
    LW: J. Robertson, Byfield (C), Guenther
    RW: Pavelski (C), Giroux (C), Svechnikov (LW)
    D: Fox, Makar, Bouchard, Morrissey, Gudas
    Util: Meier (LW, RW)
    G: Oettinger, Georgiev, Samsonov, Woll


  5. #215
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    Default Re: Crypto Currency

    Well, much of the high end art market is just tax sheltering as well.

  6. #216
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    Default Re: Crypto Currency

    Quote Originally Posted by doulos View Post
    Well, much of the high end art market is just tax sheltering as well.
    Very true. Spend $50mill on a piece of art to save $70mill in taxes. (I know it's not exactly that but that's how I feel like the rich people smoking cigars laugh about)
    12 Team, H2H, Keep 6 (in Bold)
    G, A, Pts, PPP, FW, SOG, Hits, Blocks
    W, Saves, S%, GAA, Game Started
    2C, 2LW, 2RW, 4D, 1Util, 2G, 5BN, 2IR, 1IR+, 1NA

    C: Horvat, Trocheck
    LW: J. Robertson, Byfield (C), Guenther
    RW: Pavelski (C), Giroux (C), Svechnikov (LW)
    D: Fox, Makar, Bouchard, Morrissey, Gudas
    Util: Meier (LW, RW)
    G: Oettinger, Georgiev, Samsonov, Woll


  7. #217
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    The Great One

    Default Re: Crypto Currency

    As the creator of this thread I am happy to see so many newcomers to the party.

    I will retire after this next bull run

    Thank you crytpo!

  8. #218
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    for Bitcoin?

    Would love to get in around the 3000 level....if it ever gets that low again.
    3k sounds like a beauty of an entry point!

  9. #219
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    Default Re: Crypto Currency

    Quote Originally Posted by Atomic Wedgy View Post
    On September 8th one bitcoin was worth almost $4700. Today one bitcoin is worth $3379.
    lol. I used to consider this crazy volatility. I was so naive back then.

  10. #220
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Alright, order filled around 6am.....

    Im in at $3000 usd
    You beauty!

  11. #221
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    Just wait until we see Bitcoin ETF's. Oh baby.
    Almost there on the ETFs in the US. Canada has some now as well. That just happened a few days ago.

  12. #222
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    Default Re: Crypto Currency

    Could be very very interesting if an ETF does go through in the states...
    Dobber Expert Pool Champion 2011-12

  13. #223
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    As the creator of this thread I am happy to see so many newcomers to the party.

    I will retire after this next bull run

    Thank you crytpo!
    It's been awhile since we first had this discussion Guru!

    Whats your portfolio looking like now?
    Dobber Expert Pool Champion 2011-12

  14. #224
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    Default Re: Crypto Currency

    Quote Originally Posted by Maaaasquito View Post
    It's been awhile since we first had this discussion Guru!

    Whats your portfolio looking like now?
    Very simple

    80% ETH
    20% BTC

    Looking to unload all of it and lock in profits by February-March or whenever ETH 2.0 is finally launched....and will probably short the market over the next couple years.

    How about you?

  15. #225
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    Default Re: Crypto Currency

    Quote Originally Posted by Mr. Guru View Post
    As the creator of this thread I am happy to see so many newcomers to the party.

    I will retire after this next bull run

    Thank you crytpo!
    Hell yeah buddy. Hoping for the same. Hard to think that if the next 6 months goes the way I suspect it will that I might be done "having" to work.

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