The Crypto coin thread

[Retired Climber]

12 minutes ago, Mick Dempsey said:

You sell NFTs?
Thats complete bollocks though isn’t it? (NFTs I mean)

I can't tell you if they are bollocks or not. My opinion is that some are. 

When most people think of NFTs they think of those silly NFT collectibles that were popular. Those, in my opinion, are simply a tax on stupidity. If you think that giving someone your money in return for absolutely nothing is a good idea, you deserve to pay the tax. It's not much different to crypto though, a few people made a fortune early on, and that gave the idea enough hype for it to be treated as an investment opportunity. 

 

On the other side of the coin, are things like fNFTs, that can actually be useful. I'm preparing / collating all of the research and notes from my first book to sell as a fNFT. Due to the nature of these, I can sell the collection to a group of people, rather than an individual. I wouldn't be able to find anyone who would give me £100 K for the stuff, but I will be able to find a couple of thousand people who will give 500 quid each to own part of the fNFT. It's just the modern day equivalent of first editions being valuable. 

[Mick Dempsey]

Just googled fNFT, none the wiser.

Good luck with it anyway!

[Stere]

The whole thing was/is a pyramid scheme or maybe thats too simple an idea?

 

NFTs included in that

[Conor Wright]

1 hour ago, Stere said:

The whole thing was/is a pyramid scheme or maybe thats too simple an idea?

 

NFTs included in that

The whole world is a pyramid scheme

just be glad you're nearer the top than the bottom.

 

 

[Retired Climber]

4 hours ago, Mick Dempsey said:

Just googled fNFT, none the wiser.

Good luck with it anyway!

An fNFT is simply one that can be split up, with smaller pieces sold. It's handy, as in my example, a load of people can buy a piece if nobody would want to spend the money the whole thing would cost. 

[Mick Dempsey]

Even less tempting.

[AHPP]

Two tenths of **************** all then.

[Retired Climber]

18 minutes ago, Mick Dempsey said:

Even less tempting.

It depends. A small part of something valuable, is better than owning all of something that's worth nothing. It all depends on the perceived value. It's no different to diamonds, precious metals, or even cash really. 

[monkeybusiness]

22 minutes ago, Retired Climber said:

It depends. A small part of something valuable, is better than owning all of something that's worth nothing. It all depends on the perceived value. It's no different to diamonds, precious metals, or even cash really. 

It is though - all of those are both physical and have provenance. They aren’t simply a geek’s made up scam-dosh.

[Retired Climber]

14 minutes ago, monkeybusiness said:

It is though - all of those are both physical and have provenance. They aren’t simply a geek’s made up scam-dosh.

Cash has no physical value. The others are partially only valuable because they are desirable.