nobokov
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February 2016
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NFT Art
May 10, 2022 15:17:58 GMT 1
NFT Art , by nobokov on May 10, 2022 15:17:58 GMT 1, So what happened to all the talk of communities and the various schemes that people were promoting?
So what happened to all the talk of communities and the various schemes that people were promoting?
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NFT Art , by Carl Cashman Art on May 11, 2022 7:26:50 GMT 1, Anyone purchased and otherside deeds?
Anyone purchased and otherside deeds?
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nobokov
Junior Member
๐จ๏ธ 4,948
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February 2016
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NFT Art
May 12, 2022 15:38:47 GMT 1
NFT Art , by nobokov on May 12, 2022 15:38:47 GMT 1, Stupidity reigned free for far too long. Hopefully this is the end to the mania.
Stupidity reigned free for far too long. Hopefully this is the end to the mania.
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Jaylove
Junior Member
๐จ๏ธ 1,599
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November 2016
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NFT Art
May 12, 2022 16:03:43 GMT 1
NFT Art , by Jaylove on May 12, 2022 16:03:43 GMT 1, Told yโall. Watching someone explain the value of an NFT was always cringe.
Told yโall. Watching someone explain the value of an NFT was always cringe.
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NFT Art
May 12, 2022 16:20:55 GMT 1
via mobile
NFT Art , by Adam The Collector on May 12, 2022 16:20:55 GMT 1, Burn baby burn
Burn baby burn
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Pawel
Junior Member
๐จ๏ธ 3,801
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June 2015
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NFT Art
May 12, 2022 16:30:21 GMT 1
NFT Art , by Pawel on May 12, 2022 16:30:21 GMT 1, Bored Apes' floor still over $172k so I'd say it's far from over.
Bored Apes' floor still over $172k so I'd say it's far from over.
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telecine
New Member
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October 2008
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NFT Art
May 12, 2022 16:30:49 GMT 1
via mobile
NFT Art , by telecine on May 12, 2022 16:30:49 GMT 1, Mugs game
Mugs game
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nobokov
Junior Member
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February 2016
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NFT Art , by nobokov on May 13, 2022 1:31:04 GMT 1, Stupidity reigned free for far too long. Hopefully this is the end to the mania.
Dad, how did you get into this forum?!
Stupidity reigned free for far too long. Hopefully this is the end to the mania.
Dad, how did you get into this forum?! When will you stop disappointing your mom and I? |
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nobokov
Junior Member
๐จ๏ธ 4,948
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February 2016
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NFT Art , by nobokov on May 13, 2022 1:48:20 GMT 1, When will you stop disappointing your mom and I?  not as much as when I noticed all my icons on the desktop shuffled around this morning! You need more double-click practice!  Jokes apart, blockchain is a great technology. It needs regulation, but it's great. Surely after this recession it will be used for ownerships of cars, houses etc - if regulated. JPGs turned in NFT are silly, I agree, but if they have a functionality and a return, they are a great item. Surely if you knowhow and when to sell them, they can also bring a lot of money. Making 5k in a day from the couch drinking beer is a pretty good profit. I didn't understand the reasoning behing NFTs, then som money and free prints started showing up at the door...so....
When will you stop disappointing your mom and I? not as much as when I noticed all my icons on the desktop shuffled around this morning! You need more double-click practice! Jokes apart, blockchain is a great technology. It needs regulation, but it's great. Surely after this recession it will be used for ownerships of cars, houses etc - if regulated. JPGs turned in NFT are silly, I agree, but if they have a functionality and a return, they are a great item. Surely if you knowhow and when to sell them, they can also bring a lot of money. Making 5k in a day from the couch drinking beer is a pretty good profit. I didn't understand the reasoning behing NFTs, then som money and free prints started showing up at the door...so.... Yeah it's always fun to fleece the naive. I wish I had jumped in to get in the fun. Missed the boat completely. |
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NFT Art , by Jules Leotard on May 13, 2022 2:12:40 GMT 1, I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well.
Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out).
I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well.
Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out).
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J0NNY
Junior Member
๐จ๏ธ 1,054
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NFT Art
May 13, 2022 3:33:22 GMT 1
via mobile
NFT Art , by J0NNY on May 13, 2022 3:33:22 GMT 1, I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out).
What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ).
I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out). What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ). |
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NFT Art , by Jeezuz Jones Snr on May 13, 2022 4:00:06 GMT 1, Looks like Bitcoin etc. are taking a hammering also. I think only because I am older and the fact I have not got a fecking clue what's going on with it all is the only reason I didn't buy any  Basically there is uncertainty for investments. Stocks are falling: - because of China on hold due to Covid. - because of greed of Petrol/Oil producers. - because of Russia and the stop of imports + billionnaires spending abroad - because the feds are increasing rates so people are forced to stop buying shit and get themselves in debt for generations. unfortunately they are doing it too fast and people will still buy shit and find themselves with even bigger debt. - Cryptos are down because of Russia (they were the biggest minters and buyers. Now they can't buy shit and trade anything because of the Visa, Mastercard, AMex block. Thanks to that d.head of Putin. - Crypto are also down because California (and then the US) are trying to regulate (and tax properly) the market. -Crypto are also down because China is frozen due to Cavid and bad prevention from their government. - Cryptos are VERY volatile. We discovered in the years that sometimes you only need a TWEET from Elon Musk or Korea or China to drop the whole market 20% down or 400% up in a day. So, you can;t predict it. Surely in the long term it's pretty evident that it will be the "way to go" and way to prove ownership of deeds or else. In our case art. Artists need to understand that it's not just a "selling a jpg of their painting". But it has to be used as a "token" of appreciation and support. As sort of sponsorship. Also people need to be taken accountable for their scams. Way too many (unpunished) rug pulls.
I think all assets/investments will slowly come off the boil this year and for 2023, its probably all ready happening quikcly. If the US has a recession a lot of the west will follow also. All the sanctions on Putin and it looks like the West will suffer a big downturn also, he will be loving that.
Like many countries, here in Australia interest rates and inflation are going up so there will be some pain ahead for many and for families who are over leveraged. A lot will need a big buffer in savings to get through it. We'll see how things develop.
Looks like Bitcoin etc. are taking a hammering also. I think only because I am older and the fact I have not got a fecking clue what's going on with it all is the only reason I didn't buy any Basically there is uncertainty for investments. Stocks are falling: - because of China on hold due to Covid. - because of greed of Petrol/Oil producers. - because of Russia and the stop of imports + billionnaires spending abroad - because the feds are increasing rates so people are forced to stop buying shit and get themselves in debt for generations. unfortunately they are doing it too fast and people will still buy shit and find themselves with even bigger debt. - Cryptos are down because of Russia (they were the biggest minters and buyers. Now they can't buy shit and trade anything because of the Visa, Mastercard, AMex block. Thanks to that d.head of Putin. - Crypto are also down because California (and then the US) are trying to regulate (and tax properly) the market. -Crypto are also down because China is frozen due to Cavid and bad prevention from their government. - Cryptos are VERY volatile. We discovered in the years that sometimes you only need a TWEET from Elon Musk or Korea or China to drop the whole market 20% down or 400% up in a day. So, you can;t predict it. Surely in the long term it's pretty evident that it will be the "way to go" and way to prove ownership of deeds or else. In our case art. Artists need to understand that it's not just a "selling a jpg of their painting". But it has to be used as a "token" of appreciation and support. As sort of sponsorship. Also people need to be taken accountable for their scams. Way too many (unpunished) rug pulls. Good post and yes all you say is happening it seems. I think all assets/investments will slowly come off the boil this year and for 2023, its probably all ready happening quikcly. If the US has a recession a lot of the west will follow also. All the sanctions on Putin and it looks like the West will suffer a big downturn also, he will be loving that. Like many countries, here in Australia interest rates and inflation are going up so there will be some pain ahead for many and for families who are over leveraged. A lot will need a big buffer in savings to get through it. We'll see how things develop. |
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qest
New Member
๐จ๏ธ 619
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March 2018
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NFT Art , by qest on May 13, 2022 4:11:18 GMT 1, I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out). What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ).
www.kraken.com/en-us/learn/what-is-dai
I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out). What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ). Just to be clear, DAI isn't backed by USD and maintains its 1:1 by crypto assets/contracts. It may not always remain 1:1. Some other recent examples of the hazards of that approach. www.kraken.com/en-us/learn/what-is-dai |
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J0NNY
Junior Member
๐จ๏ธ 1,054
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December 2014
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NFT Art
May 13, 2022 4:24:24 GMT 1
via mobile
NFT Art , by J0NNY on May 13, 2022 4:24:24 GMT 1, What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ). Just to be clear, DAI isn't backed by USD and maintains its 1:1 by asset backed crypto assets in contracts. It may not always remain 1:1. Some other recent examples of the hazards of that approach.
Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto
What do you mean? Iโm sure the only Crypto you had to purchase his art with was the Dai which is always 1 for 1 with the USD. All the ETH sales are secondary where he only gets a cut of the sale ( bit the artist resale rights ). Just to be clear, DAI isn't backed by USD and maintains its 1:1 by asset backed crypto assets in contracts. It may not always remain 1:1. Some other recent examples of the hazards of that approach. Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto |
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qest
New Member
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March 2018
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NFT Art , by qest on May 13, 2022 4:34:33 GMT 1, Just to be clear, DAI isn't backed by USD and maintains its 1:1 by asset backed crypto assets in contracts. It may not always remain 1:1. Some other recent examples of the hazards of that approach. Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto
Just to be clear, DAI isn't backed by USD and maintains its 1:1 by asset backed crypto assets in contracts. It may not always remain 1:1. Some other recent examples of the hazards of that approach. Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto Agree, funny how the dollar still rules even with crypto. Still spooky though and it seems a lot of people do think there is a direct correlation. Risk abounds. |
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NFT Art , by Jules Leotard on May 13, 2022 5:50:25 GMT 1, I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out). History repeats itself. Once this uncertainty ends, it will spike up again. When people realize investing in stocks is pointless and banks have crazy interests, everyone will head back to crypto and art. If you can, buy the dip; if you canโt, just wait and let the things pass. The technology is excellent.
โIt is easier to fool the people, than to convince them they have been fooled." -Mark Twain
I am disappointed. I was really trying to get my head around the concept to launch my own series of NFT's under the name of ByTheNFT. Oh, well. Damien Hirst was very forward thinking when he included the option of taking a physical work of art or the worthless NFT. He'd be looking pretty bad if he had bamboozled 9,000 people into buy a jpg. Then again, I would be curious if, after making everyone jump through hoops to purchase his art with crypto for the last year, he has shifted out of crypto or if he is taking massive losses holding onto all of it (I guess I could look up the exchange rates at the times of the releases to figure this out). History repeats itself. Once this uncertainty ends, it will spike up again. When people realize investing in stocks is pointless and banks have crazy interests, everyone will head back to crypto and art. If you can, buy the dip; if you canโt, just wait and let the things pass. The technology is excellent.
โIt is easier to fool the people, than to convince them they have been fooled." -Mark Twain
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NFT Art , by Jules Leotard on May 13, 2022 5:55:09 GMT 1, Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto Agree, funny how the dollar still rules even with crypto. Still spooky though and it seems a lot of people do think there is a direct correlation. Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip). The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out. They give you your money back whenever you decide to claim it minus their profit.
Yes but for the sake of the argument Of Hirst using falling cryptos itโs still is pegged at a USD. Whether ETH drops or rises itโs still at 1 USD worth of ETH ( unless they change it which over short term is unlikely). Itโs about as stable as itโs gonna get in the Crypto Agree, funny how the dollar still rules even with crypto. Still spooky though and it seems a lot of people do think there is a direct correlation. Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip). The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out. They give you your money back whenever you decide to claim it minus their profit.
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J0NNY
Junior Member
๐จ๏ธ 1,054
๐๐ป 705
December 2014
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NFT Art
May 13, 2022 6:59:16 GMT 1
via mobile
NFT Art , by J0NNY on May 13, 2022 6:59:16 GMT 1, Agree, funny how the dollar still rules even with crypto.ย Still spooky though and it seems a lot of people do think there is a direct correlation.ย Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".ย
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip).ย The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out.ย They give you your money back whenever you decide to claim it minus their profit.ย
I understand that. But what I donโt really understand is that as itโs pegged to 1 USD of an ETH are you actually really going from USD to ETH to DAI as the conversion fees seem to be quite a bit cheaper than gas fees going from straight to ETH?
Agree, funny how the dollar still rules even with crypto.ย Still spooky though and it seems a lot of people do think there is a direct correlation.ย Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".ย
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip).ย The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out.ย They give you your money back whenever you decide to claim it minus their profit.ย
I understand that. But what I donโt really understand is that as itโs pegged to 1 USD of an ETH are you actually really going from USD to ETH to DAI as the conversion fees seem to be quite a bit cheaper than gas fees going from straight to ETH? |
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aberdoom
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๐จ๏ธ 581
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NFT Art
May 13, 2022 8:04:13 GMT 1
via mobile
NFT Art , by aberdoom on May 13, 2022 8:04:13 GMT 1, "Buy when people are fearful. Sell when people are greedy."
Crypto will bounce eventually. It will go through a few ups and downs along the way, but these prices are great entry point.
"Buy when people are fearful. Sell when people are greedy."
Crypto will bounce eventually. It will go through a few ups and downs along the way, but these prices are great entry point.
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bigp
New Member
๐จ๏ธ 530
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January 2012
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NFT Art , by bigp on May 13, 2022 8:34:37 GMT 1, Stupidity reigned free for far too long. Hopefully this is the end to the mania.
The use cases are limitless but it needs to be totally decentralised where YOU actually own it, current platforms such as Opensea will die as they actually own your NFTs on their servers, if their website goes down or hacked you can say goodbye to your $200k NFT, and trust me this will happen..
So in my view the current set up of NFTs is going to end in tears..
Here's an article of a Web3 community which is building a truly decentralised infrastructure, where You will own your data making it near impossible to get hacked.
elastos.info/nft-use-cases/
Stupidity reigned free for far too long. Hopefully this is the end to the mania.
This isn't the end of NFT's this is just the start, an Nft won't just be a cartoon jpeg image, it will be hiring a movie, deeds to your house, proof of vehicle ownership and so on. The use cases are limitless but it needs to be totally decentralised where YOU actually own it, current platforms such as Opensea will die as they actually own your NFTs on their servers, if their website goes down or hacked you can say goodbye to your $200k NFT, and trust me this will happen.. So in my view the current set up of NFTs is going to end in tears.. Here's an article of a Web3 community which is building a truly decentralised infrastructure, where You will own your data making it near impossible to get hacked. elastos.info/nft-use-cases/ |
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qest
New Member
๐จ๏ธ 619
๐๐ป 713
March 2018
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NFT Art
May 13, 2022 13:27:21 GMT 1
NFT Art , by qest on May 13, 2022 13:27:21 GMT 1, Agree, funny how the dollar still rules even with crypto. Still spooky though and it seems a lot of people do think there is a direct correlation. Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip). The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out. They give you your money back whenever you decide to claim it minus their profit.
www.kraken.com/en-us/learn/what-is-dai
help.coinbase.com/en/coinbase/getting-started/crypto-education/dai-faq
"Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, DAI isn't backed by US dollars in a bank account. Instead, itโs backed by collateral on the Maker platform."
Agree, funny how the dollar still rules even with crypto. Still spooky though and it seems a lot of people do think there is a direct correlation. Risk abounds. Not sure that you understand this, but for it to be "pegged" to the dollar, DAI would have to hold that many dollars in reserve which means...you're just buying it with dollars and someone is letting you feel like you are in on the "action".
They are making money by hitting people with conversion fees from USD to ETH to DAI (roundtrip). The reality of it is you pay them with USD and they hold onto that in a bank account to cash you out. They give you your money back whenever you decide to claim it minus their profit.
That is not correct. There are different ways to peg. DAI doesn't peg that way, and neither does UST which has been the cause of its recent issues. That these are all backed by dollars seems to be a common and rather frightening misconception. www.kraken.com/en-us/learn/what-is-daihelp.coinbase.com/en/coinbase/getting-started/crypto-education/dai-faq"Dai (DAI) is a decentralized stablecoin running on Ethereum (ETH) that attempts to maintain a value of $1.00 USD. Unlike centralized stablecoins, DAI isn't backed by US dollars in a bank account. Instead, itโs backed by collateral on the Maker platform." |
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Deleted
๐จ๏ธ 0
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January 1970
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NFT Art
May 13, 2022 14:56:50 GMT 1
NFT Art , by Deleted on May 13, 2022 14:56:50 GMT 1, Lol.
Grandads
Lol.
Grandads
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nobokov
Junior Member
๐จ๏ธ 4,948
๐๐ป 6,901
February 2016
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NFT Art
May 14, 2022 2:37:16 GMT 1
via mobile
NFT Art , by nobokov on May 14, 2022 2:37:16 GMT 1, Stupidity reigned free for far too long. Hopefully this is the end to the mania.
This isn't the end of NFT's this is just the start, an Nft won't just be a cartoon jpeg image, it will be hiring a movie, deeds to your house, proof of vehicle ownership and so on. The use cases are limitless but it needs to be totally decentralised where YOU actually own it, current platforms such as Opensea will die as they actually own your NFTs on their servers, if their website goes down or hacked you can say goodbye to your $200k NFT, and trust me this will happen.. So in my view the current set up of NFTs is going to end in tears.. Here's an article of a Web3 community which is building a truly decentralised infrastructure, where You will own your data making it near impossible to get hacked. elastos.info/nft-use-cases/
Case in point
www.businessinsider.com/coinbase-warning-users-could-lose-crypto-bankruptcy-earnings-2022-5
Coinbase, one of the largest cryptocurrency exchanges, said its users might lose access to their holdings if the company ever went bankrupt.
Stupidity reigned free for far too long. Hopefully this is the end to the mania.
This isn't the end of NFT's this is just the start, an Nft won't just be a cartoon jpeg image, it will be hiring a movie, deeds to your house, proof of vehicle ownership and so on. The use cases are limitless but it needs to be totally decentralised where YOU actually own it, current platforms such as Opensea will die as they actually own your NFTs on their servers, if their website goes down or hacked you can say goodbye to your $200k NFT, and trust me this will happen.. So in my view the current set up of NFTs is going to end in tears.. Here's an article of a Web3 community which is building a truly decentralised infrastructure, where You will own your data making it near impossible to get hacked. elastos.info/nft-use-cases/Case in point www.businessinsider.com/coinbase-warning-users-could-lose-crypto-bankruptcy-earnings-2022-5Coinbase, one of the largest cryptocurrency exchanges, said its users might lose access to their holdings if the company ever went bankrupt. |
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iamzero
Full Member
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May 2011
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NFT Art
May 14, 2022 7:31:43 GMT 1
via mobile
NFT Art , by iamzero on May 14, 2022 7:31:43 GMT 1, Itโs a highly volatile market that isnโt for everyone. Watched a video saying that Bored Apes were down to a third of what they wereโฆ not as bigger drop as LUNA. One account that was worth $16.2 million in early April is now worth around the value of a cup of coffee. Huge manipulation and Coinbase are showing themselves to be just as shady as the rest. Only been into crypto for a year but itโs way more interesting than what this art scene has turned into.
Itโs a highly volatile market that isnโt for everyone. Watched a video saying that Bored Apes were down to a third of what they wereโฆ not as bigger drop as LUNA. One account that was worth $16.2 million in early April is now worth around the value of a cup of coffee. Huge manipulation and Coinbase are showing themselves to be just as shady as the rest. Only been into crypto for a year but itโs way more interesting than what this art scene has turned into.
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nobokov
Junior Member
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February 2016
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Spacekid 9
New Member
๐จ๏ธ 62
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January 2022
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NFT Art , by Spacekid 9 on May 15, 2022 4:40:02 GMT 1, not entirely correct. If you keep your crypto with them (a virtual wallet that is really a Coinbase owned wallet) after purchasing it from their exchange, you will be an unsecured claim in BK. If you move it to your own wallet, there are no issues to your crypto. Not saying this isn't a slap to the consumer but that generalize statement isn't right.
you shouldn't be leaving your crypto at these virtual wallet because it's not your wallet, but it does help people give crypto a try because setting a wallet can be confusing.
not entirely correct. If you keep your crypto with them (a virtual wallet that is really a Coinbase owned wallet) after purchasing it from their exchange, you will be an unsecured claim in BK. If you move it to your own wallet, there are no issues to your crypto. Not saying this isn't a slap to the consumer but that generalize statement isn't right.
you shouldn't be leaving your crypto at these virtual wallet because it's not your wallet, but it does help people give crypto a try because setting a wallet can be confusing.
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NFT Art , by Lroy on May 15, 2022 9:50:36 GMT 1, Looks like Bitcoin etc. are taking a hammering also. I think only because I am older and the fact I have not got a fecking clue what's going on with it all is the only reason I didn't buy any Same as you !
What an old guy as Noir, or other artists as Hirst, Vhils are doing on Discord, and making giveaways ?! Just why ?! just because of bitcoins, NFsT etc ... It's a media for youths andor gamers usually, buying or trading their bitcoins ( One day, governments, can take all of them, and stop the value ) .
The internet is so crappy, full of advertisments and garish colors, choose your own print, book, cds, image, and like the beautiful ! Paper is so tasty ! as any support !
I don't lkie Spotify too etc...
I am a collector and I never watch TV...
Well, It si a good explanation about NFTs ? Or I missed the point...
NFT ? No F.cking Tradition.. ahahah
Looks like Bitcoin etc. are taking a hammering also. I think only because I am older and the fact I have not got a fecking clue what's going on with it all is the only reason I didn't buy any Same as you !
What an old guy as Noir, or other artists as Hirst, Vhils are doing on Discord, and making giveaways ?! Just why ?! just because of bitcoins, NFsT etc ... It's a media for youths andor gamers usually, buying or trading their bitcoins ( One day, governments, can take all of them, and stop the value ) .
The internet is so crappy, full of advertisments and garish colors, choose your own print, book, cds, image, and like the beautiful ! Paper is so tasty ! as any support !
I don't lkie Spotify too etc...
I am a collector and I never watch TV...
Well, It si a good explanation about NFTs ? Or I missed the point...
NFT ? No F.cking Tradition.. ahahah
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NFT Art , by Daniel Silk on May 28, 2022 9:43:15 GMT 1,
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Jimini Cricket
Junior Member
๐จ๏ธ 1,886
๐๐ป 1,267
December 2017
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NFT Art
Jun 16, 2022 22:47:54 GMT 1
NFT Art , by Jimini Cricket on Jun 16, 2022 22:47:54 GMT 1, Where did all the NFT champions and disciples go? Back to being fry cooks at McDonalds? Ha ha ha ha.
Where did all the NFT champions and disciples go? Back to being fry cooks at McDonalds? Ha ha ha ha.
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not as much as when I noticed all my icons on the desktop shuffled around this morning! You need more double-click practice! 
