Anyone dipping into Crypto or is it all too good to be true....

[ioweddie]

NFTs, BTW, are different, they use the Blockchain infrastructure but it's an actual investment. Of course it's still a risky investment in an unregulated area, but at least there's some logic to it, as opposed to investing directly in Cryptocurrency.

What are NFT's and BTW ? Thanks Eddie

 

[markjay]

What are NFT's and BTW ? Thanks Eddie

NFT - What Is NFT Art? (How Does It Work)

Most commonly used to invest in digital art.

BTW - stands for 'by the way'....

 

[chic0821]

there are so few Nums left in circulation and the price is shifting up all the time.

Really good explanation of how it works. One question, where can I buy some NUM's

 

[DrNick]

NFT - What Is NFT Art? (How Does It Work)

Most commonly used to invest in digital art.

BTW - stands for 'by the way'....

Bored Ape Yacht Club - NFT Price Floor - Chart & Stats

Get the floor price, historical price chart, volume and other relevant sales metrics of the Bored Ape Yacht Club NFT collection

nftpricefloor.com

As an example of nfts. As usual, if you don’t understand it, don’t “invest”!
I’m pretty sure that anybody who understands crypto will not invest-they will start their own coin project.

They are just clonable Ponzi schemes so get in early and get out early.

 

[ChrisEdu]

I'm sure Elon can point you all in the right direction!

 

[Borys]

All due respect to all opinions
I don’t know much about crypto but mate of mine suggested to invest in XRP. I did 1K and I made 5.5K profit in two months. Whole increase Stalled now. Funds made Easily transferable to your normal bank account (which I did), on offer there is even a Visa Debit Card.I Used Crypto.com - brilliant to me or maybe it was just a luck. On other hand, my mate is making around 22K a week profits, bit of a geek he is thou. I don’t have courage to do what he does and he will not disclose his secret’s obviously. Tried even when drunk.

 

[Darrell]

All due respect to all opinions
I don’t know much about crypto but mate of mine suggested to invest in XRP. I did 1K and I made 5.5K profit in two months. Whole increase Stalled now. Funds made Easily transferable to your normal bank account (which I did), on offer there is even a Visa Debit Card.I Used Crypto.com - brilliant to me or maybe it was just a luck. On other hand, my mate is making around 22K a week profits, bit of a geek he is thou. I don’t have courage to do what he does and he will not disclose his secret’s obviously. Tried even when drunk.

BS.

 

[markjay]

A man in his eighties goes to see his GP.

"What seems to be the problem?" asks the GP.

"Doctor, I can only manage being intimate with my wife once a week" says the man.

"You're 85. Once a week isn't bad at all. What were you expecting?"

"Well, there's a bloke down the pub who tells everyone that he can do it twice a day, and he has my age"

"Why don't you do the same then?" responds the GP.

"Do you mean that I should ask him how he does it?" asks the man.

"No, I meant why don't you also tell everyone that you can do it twice a day...?"

 

[JHS]

A man in his eighties goes to see his GP.

"What seems to be the problem?" asks the GP.

"Doctor, I can only manage being intimate with my wife once a week" says the man.

"You're 85. Once a week isn't bad at all. What were you expecting?"

"Well, there's a bloke down the pub who tells everyone that he can do it twice a day, and he has my age"

"Why don't you do the same then?" responds the GP.

"Do you mean that I should ask him how he does it?" asks the man.

"No, I mean why don't you also tell everyone that you can do it twice a day...?"

Once a WEEK?
Randy sod!

 

[Borys]

BS.

Thank you, very polite

 

[Darrell]

Thank you, very polite

You’re welcome.

 

[Borys]

You’re welcome.

Driving a van, running own business, so much debt that don’t know what day it is and thinks knows everything lol

 

[Darrell]

Driving a van, running own business, so much debt that don’t know what day it is and thinks knows everything lol

You’re obviously not talking about me then. lol (whatever that means)

 

[m80]

Once a WEEK?
Randy sod!

Don't tell his wife,
there's a good chap.

 

[Dryce]

NFTs, BTW, are different, they use the Blockchain infrastructure but it's an actual investment. Of course it's still a risky investment in an unregulated area, but at least there's some logic to it, as opposed to investing directly in Cryptocurrency.

An 'investment' in what.

So you buy some bit of cr*p digital art that's a NFT. What differentiates that from the same bit of cr*p digital art that's not a NFT.

NFTs as hyped don't solve any sort of problem. They're misunderstood and people buy into the hype. People forget that art and other works are legally protected.

 

[Dryce]

Really good explanation of how it works. One question, where can I buy some NUM's

Turned out the John Wick series bought up the last ones in circulation to use as markers.

 

[markjay]

An 'investment' in what.

So you buy some bit of cr*p digital art that's a NFT. What differentiates that from the same bit of cr*p digital art that's not a NFT.

NFTs as hyped don't solve any sort of problem. They're misunderstood and people buy into the hype. People forget that art and other works are legally protected.

NFT is something that someone might want in future to buy from you and pay you more than you initially paid for it

In essence it's not too different from buying the (physical) work of a young and unknown artist in the hope that one day someone will pay you good money for it.

It's risky, and it's unregulated so there are many potential pitfalls, but it's an investment.

It's not digital currency, but it uses the same engine (Blockchain) to secure the transaction even though it's purely digital.

The key difference between buying Cryptocurrency and investing in NFTs is a bit like the difference between the roulette table and the horse racing. In the case of the former, it's pure luck. In the case of the latter, there's some element of rational knowledge that you can apply that increases the odds in you favour above pure chance.

 

[Dryce]

It's not digital currency, but it uses the same engine (Blockchain) to secure the transaction even though it's purely digital.

The point is it adds no actual value - no tangible protection.

In practical terms you can basically secure a digital product by taking a hash - registering the hash - use the hash to verify it - record who owns the product along with the hash in a ledger.

No Blockchain needed. It's a red herring.

But to those who can't think these through (and plenty of IT people have got caught up in the idea that blockchain is more useful than it actually is) it all sounds like some sort of new tangible thing that has value.

I chose my example of the Ford Focus in my post above quite deliberately.

 

[MikeInWimbledon]

All due respect to all opinions
I don’t know much about crypto but mate of mine suggested to invest in XRP. I did 1K and I made 5.5K profit in two months. Whole increase Stalled now. Funds made Easily transferable to your normal bank account (which I did), on offer there is even a Visa Debit Card.I Used Crypto.com - brilliant to me or maybe it was just a luck. On other hand, my mate is making around 22K a week profits, bit of a geek he is thou. I don’t have courage to do what he does and he will not disclose his secret’s obviously. Tried even when drunk.

When you say “made,” do you mean that you actually realised that gain, or is it still just a paper gain?

As for the guy who claims he is making a million a year, is he, again, actually making and banking that money, and visibly spending it? A million a year “isn’t much these days,” but it’s still visible enough in terms of “lifestyle choices.”

.

 

[Bobby Dazzler]

A million a year “isn’t much these days,” but it’s still visible enough in terms of “lifestyle choices.”

.

In that case I’ll have your million a year, as you probably won’t miss it