re: Official CryptoTalk Thread

I think the biggest, earliest use case for NFTs right now is going to be ticket sales to events. Then once that is mature, you can have the NFT in your wallet and sports teams can give you other special NFTs during the game that you can't get anywhere else. Things that could be worth money one day.

Imagine if when the Saints won the superbowl, they could pass out some special token commemorating it, but only for people that were at the game.

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get in NOW and when blockchain really hits mainstream you'll be loaded.

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my point is replying to maclauer was all that sounds more value storage narrative than usage based price.

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Take Telcoin as an example. They're setting out to be a premium remittance provider, and while it's abundantly clear on their website that they've based it upon blockchain technology, Joe Schmoe doesn't need to care about that. You simply send your FIAT and they will convert it to whatever other FIAT you need on the other end, using a blockchain network in between. Send USD to AUSD or Zimbabwean currency in seconds. Goodbye, expensive and slow Western Union. And you can use it now in some markets.

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thank you for an example that supports my point. I didn't say it was worth 0, but near 0$, in the case of telcoin, worth about 0.04$ and that price is boosted with a large amount of speculation not based off actual usage value. now what does near 0 really mean, I think its subjective but would argue 0.04 is near 0. it would probably be much less than 0.04$ based on actual usage value

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Yea maybe I'm just a boomer in the crypto world, but I can't for the life of me understand NFTs (outside of digital trading cards). Owning a sports highlight or a digital gif makes no sense to me.

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I mean their real real usage is probably for porn and money laundering.

Where would one store digital assets given out by QR code scanning?

How would one prevent counterfeiting of said digital asset without a permanent signature like an NFT?

How much easier would it be to automate this kind of thing using NFTs and crypto wallets rather than scanning QR codes of every ticket holder?

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Gold on a nice run while bitcoin dies is a bad look. I’m running away from the SOV narrative and toward the usage narrative, and appears you’re doing the same.

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gold hasnt done anything in 6 months though, right?

im doubting the crypto usage narrative right now. the whole NFT use case is not worth trillions of dollars, anyways

im playing the memes and marketing and planning a 100% exit into stable coins within the next few months

the only use case to justify these blockchain billion dollars valuations is as a global decentralized SoV, as a replacement for storing wealth in precious metals or bonds or real estate.

ill stay open minded, of course, but its pretty obvious to me this market is mostly just who has the best PR team or charismatic leader

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what usage is that, buying sending converting? (eta i mean actual usage for joe schmoe using erc20 coins for accomplishing some function in his day to day life not fees accrued by speculative traders)

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the stalwart tweeted out the usages today

-You can buy tokens.
-You can stake tokens for interest.
-You can lend fiat to token buyers.
-You can hold tokens.
-You can swap tokens.
-- You can borrow against your tokens
-- You can trustlessly let a third party buy tokens on your behalf
-- You can arbitrage token mispricings across different exchanges
-- You can frontrun other people's token arbitrage trades
-You can buy insurance on your tokens.

All starting to feel like a pyramid scheme

Avalanche shared a video on twitter yesterday of a company implementing a device into vending machines that allows you to pay with different tokens. Heres the twitter of the company doing it. quanterall

Absolutely.

I understand that I'm playing the casino right now, that's why I want to close my alt positions and move into stablecoins before the bear market arrives. Once the bear market is here, I want to use those stablecoins to buy up BTC, ETH, LINK and take those for a ride and just hold. I like TEL so much I might hold that and pump more money in when the market is down, too.

I'm sure I won't close out at the tippy top, nor will I buy back in at the very bottom, but i'd rather miss out on 10 or 20% of profit than sell too late and be on the wrong end, or buy too early than buy too late.

yea but i think 1) enough people still are believing in past cycle history, which will top us around sept-oct and 2) ETH has some promising near-term catalysts. so i do think theres still alpha left in this cycle

i can also see the flippenning narrative getting spun up again like we saw in 2017

maybe we will get a Fortune 500 announcement or something like that too