I have no problem with folks using BitCoin (well, I do have a problem with the energy cost of BitCoin) as a currency. What makes no sense is investing in it. It's like investing in Euros or US Dollars. It makes no sense. Essentially it's a pyramid scheme - it only works if other folks keep buying in thinking they are going to make money too.
Top Shots
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Totally Kafkaesque
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There is a scarcity factor though, not there in currency. The US can print as much money as it wants (and does, it essentially just printed another $2 trillion today) but the amount of Bitcoin available to be coined in finite.Shirley wrote: ↑Wed Mar 10, 2021 3:45 pmI have no problem with folks using BitCoin (well, I do have a problem with the energy cost of BitCoin) as a currency. What makes no sense is investing in it. It's like investing in Euros or US Dollars. It makes no sense. Essentially it's a pyramid scheme - it only works if other folks keep buying in thinking they are going to make money too.
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Sort of. You can't really just print as much money as you want without your economy collapsing. I think we've learned that lesson by now.
And I get that scarcity adds value, but usually you have to have something else that makes that scarcity relevant. Like people desire houses on the beach. And there are only so many lots on the beach so those two things together make those lots very expensive. You don't get that same value out of the scarce lots around a swamp.
And I get that scarcity adds value, but usually you have to have something else that makes that scarcity relevant. Like people desire houses on the beach. And there are only so many lots on the beach so those two things together make those lots very expensive. You don't get that same value out of the scarce lots around a swamp.
Totally Kafkaesque
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Bitcoin was supposed to be 'alternate currency.'
It turned into 'weirdo fucking investment strategy on Blockchain.'
Lucrative right now for sure. But I just don't see it ever becoming a unified currency or something. Maybe a 'bridge' currency, but it needs less volatility.
My meager $100 purchase like a month or so ago has varied between $92 and $160. That's ridiculous.
It turned into 'weirdo fucking investment strategy on Blockchain.'
Lucrative right now for sure. But I just don't see it ever becoming a unified currency or something. Maybe a 'bridge' currency, but it needs less volatility.
My meager $100 purchase like a month or so ago has varied between $92 and $160. That's ridiculous.
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So after 80+ years Topps is going public (via SPAC). They are describe as a trading card and NFT company.
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Can anyone ELI5 an NFT for me? I just looked it up on Wikipedia and I'm more confused than when I started.
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"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
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mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
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You have now just created more questions.
Dances with Wolves (1) - BSF
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
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Can anyone ELI5 ELI5 for me?
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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Explain Like I'm 5.
As in this shit is way over my head someone please explain it to me like I'm a fucking 5 year old so my stupid self can understand.
Dances with Wolves (1) - BSF
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
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Ah. I love that.BSF21 wrote: ↑Wed Apr 07, 2021 2:12 pmExplain Like I'm 5.
As in this shit is way over my head someone please explain it to me like I'm a fucking 5 year old so my stupid self can understand.
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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Let's say I draw a dick in MS Paint and want to sell it. I upload it to an NFT auction site and someone buys it. Now, since it's a jpg of a dick, it can be copied and distributed all over the internet for everyone who wants to look at my awesome art. However, the buyer of my original dick was given a unique "code" to prove that they're the owner of said member. My dick drawing is all over the internet, but his is the only one with 'value' since he paid for it and 'owns' it. Should my dick go up in value because I become famous or something, he can choose to sell it, in which case the "code" not only dictates that I get some of the sell-on fee, but it also records the transaction, so in a hundred years there's a digital trail of every time it's changed hands, and luckily for me, I also get a cut every time it has changed hands.
The real question is, why would anyone want to purchase the picture when they can literally just look at it online for free? Because the transaction history and market have decided that owning the one true dick has value. There's literally nothing that backs it up ("non-fungible") other than ppl deciding that it does.
Replace my MS paint dick with any digital file, and that's the gist of it.
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Yea. I don't get it or how it demonstrates value. Sounds like something very scary lawyers can now threaten people with?
And this all has to do with crypto?
Man the world just moves too fast.
And this all has to do with crypto?
Man the world just moves too fast.
Dances with Wolves (1) - BSF
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
"This place was rockin'," said BSF21.
"There is nothing ever uncommon about BSF21."
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"Well, replace my dick with any digital file" sounds like a southern exclamation from 100 years in the future.
You know what you need? A lyrical sucker punch to the face.
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Hypothetically, if you were to draw a dick in MS paint, where could I go to buy such an image? I'm looking to invest in art and be more cultured.P.D.X. wrote: ↑Wed Apr 07, 2021 2:49 pmLet's say I draw a dick in MS Paint and want to sell it. I upload it to an NFT auction site and someone buys it. Now, since it's a jpg of a dick, it can be copied and distributed all over the internet for everyone who wants to look at my awesome art. However, the buyer of my original dick was given a unique "code" to prove that they're the owner of said member. My dick drawing is all over the internet, but his is the only one with 'value' since he paid for it and 'owns' it. Should my dick go up in value because I become famous or something, he can choose to sell it, in which case the "code" not only dictates that I get some of the sell-on fee, but it also records the transaction, so in a hundred years there's a digital trail of every time it's changed hands, and luckily for me, I also get a cut every time it has changed hands.
The real question is, why would anyone want to purchase the picture when they can literally just look at it online for free? Because the transaction history and market have decided that owning the one true dick has value. There's literally nothing that backs it up ("non-fungible") other than ppl deciding that it does.
Replace my MS paint dick with any digital file, and that's the gist of it.
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It's only valuable to people who value it at a given time (I know that sounds stupid). To me, the Mona Lisa ain't worth shit because I wouldn't have the money needed to buy it from the Louvre even if they wanted to sell it. If I want to see it, I just pull up the internet. But if it suddenly went on the market, every art collector in the world would be interested. But that's a small portion of the population. Now, as bitcoin shows, as more people value it, more people enter the market. A lot of people hold very small portions of bitcoin (Degen, for one I believe) now that financial markets see it as something tradable and as businesses start to accept it as currency. Same could happen with PDX's dick pic...and why wouldn't it?
You know what you need? A lyrical sucker punch to the face.
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It almost sounds like that's Top Shots plan, since you can't get your money out on your terms for a while.
You know what you need? A lyrical sucker punch to the face.
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Yeah, I have a friend who is playing around in there but only on the pack-buying then card-selling side. I can't imagine holding those as longer term investments.
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Lawyers are already on it ...
Are NFTs Securities?
In the case of NFTs that constitute art or collectibles, on the surface of things, such NFTs should arguably not be deemed to be securities. (Needless to say, any given NFT would have to be analyzed on its specific facts.) These NFTs are essentially finished products whose value is determined at a sale that is made directly to a buyer. For such NFTs to maintain or appreciate in value, there is typically no expectation or need for third parties to extend managerial efforts that will enhance the value of the NFT. As noted by the SEC staff in its 2019 Framework, “Price appreciation resulting solely from external market forces (such as general inflationary trends or the economy) impacting the supply and demand for an underlying asset generally is not considered ‘profit’ under the Howey test.” In other words, an NFT is not a security simply because it can increase in value.
However, NFTs that constitute art or collectibles may only be the tip of the iceberg. Many industry participants think the technological developments being driven by the demand for NFTs could lay the groundwork for expansion into an enormous variety of digital property rights. The analysis becomes more complex when considering the emerging trend towards these other areas, including the financialization of NFTs.
For example, certain projects propose to issue insurance policies in NFT form. This approach is based on the idea that each insurance policy is unique given such variables as the type of risk covered, extent of coverage, and premiums payable. In such structures, insurance writers contribute to a protection pool and receive a share of premiums from insurance buyers commensurate to their contribution to the protection pool. Such systems contemplate that the insurance writers will also be able to trade their share of the protection pool and accompanying rights to premiums on secondary markets.
Similarly, it is possible to mint NFTs in such a way that the original NFT issuer would receive a share of proceeds each time their NFT was sold — even long after their initial sale of the NFT. One can envision a scenario in which an artist could decide to sell such rights to future proceeds on a secondary market, perhaps even packaging them with rights to proceeds from other NFTs they created. Finally, platforms are emerging where NFTs can be used as collateral to borrow other cryptoassets.
In any of the foregoing scenarios, careful consideration would need to be taken to ensure that the underlying tokens being traded are not securities, so as to avoid the accompanying regulatory burden. If deemed to be a security, every sale of the token would need to be registered or exempt from registration under US securities laws. Furthermore, platforms dealing in the token would be required to register as a securities exchange or alternative trading system and broker-dealer.
And his one problem is he didn’t go to Russia that night because he had extracurricular activities, and they froze to death.
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There's just too much fucking money in existence.
Woman in ‘Disaster Girl’ meme sells the original photo for more than $473k
Woman in ‘Disaster Girl’ meme sells the original photo for more than $473k
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
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I think I hate all of this shit, but good for her.
I felt aswirl with warm secretions.
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At least I can understand this, as it's a tangible photo that is meme-famous. I can't wrap my head around a .gif file being arbitrarily worth millions because it is the only one with an encryption code.
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What happens when the NFL sells an NFT of a Fungible running back?
You know what you need? A lyrical sucker punch to the face.
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In case anyone is worried about my continuing lack of understanding all of this, I "get" buying an original pic from the originator far more than I get paying for one of 10,000 official videos of an NBA jump shot where you can also just search for the video.
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I'm no economist, but the word "bubble" comes to mind.The Sybian wrote: ↑Wed Apr 28, 2021 8:26 am
At least I can understand this, as it's a tangible photo that is meme-famous. I can't wrap my head around a .gif file being arbitrarily worth millions because it is the only one with an encryption code.
"beautiful, with an exotic-yet-familiar facial structure and an arresting gaze."
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Yea, Ali Spagnola made that bit easier for me to understand too:mister d wrote: ↑Wed Apr 28, 2021 8:58 am In case anyone is worried about my continuing lack of understanding all of this, I "get" buying an original pic from the originator far more than I get paying for one of 10,000 official videos of an NBA jump shot where you can also just search for the video.
mister d wrote:Couldn't have pegged me better.
EnochRoot wrote:I mean, whatever. Johnnie's all hot cuz I ride him.
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Yeah, but listening to her talk for 9 minutes left me wanting to drink bleach. Two days left in the auction, she is only up to $14,000. Maybe if she made the video 5 minutes longer I'd bid $500,000.
An honest to God cult of personality - formed around a failed steak salesman.
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I felt aswirl with warm secretions.
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Oh hey I had Solana as a client a couple years ago. Did not get to draw balls ):
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Rangers are selling 5,000 "virtual ticket" NFTs for Henrik's number retirement game with bidding starting at $20. So if they can find 5,000 or more "investors", they've just made $100,000+ doing absolutely nothing.