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re: Remember when NFTs were all the rage, especially those stupid Ape ones?
Posted on 11/17/22 at 9:50 am to SlowFlowPro
Posted on 11/17/22 at 9:50 am to SlowFlowPro
quote:
So you flipped some tulips early in the bubble? Great.
Means literally nothing in this conversation.
Plenty still have value and could be sold now for great gains.
I just use them as a vehicle to aquire more crypto, which they're based on.
Crypto getting hammered has lowered the price of nfts more than the nft fad itself not being as popular
1
Posted on 11/17/22 at 9:50 am to rocket31
quote:
i think the floor was $250k when he paid a million
So you are arguing the NFT that had a "floor" of $250k last year and allegedly has a current value of $74k, may be worth 6-figures in 10 years?
Posted on 11/17/22 at 9:51 am to Fun Bunch
quote:
I've specifically said the grifters who made money off of this absolute nonsense are geniuses, so kudos to you sir.
100%. I wish I would have been one of them. But I’m too risk averse.
I have bought crypto but only small amounts to fund my shady internet sports gambling
Posted on 11/17/22 at 9:52 am to Fun Bunch
quote:
I've specifically said the grifters who made money off of this absolute nonsense are geniuses, so kudos to you sir.
Yeah getting in early on a legal scam is really good.
The problem is that most people don't time things so easily. Lou Pai only got his hundreds of millions b/c his wife divorced him.
Saying you flipped some NFTs for 6 figures in the past ignores a lot of current data, specifically, how much of that profit is now tied to NFTs
Posted on 11/17/22 at 9:52 am to Fun Bunch
i mean, in the blockchain space, beyond bitcoin; NFTs are the only thing I can see having value long term
people like owning jpegs of digital animals that they can flex on other people
its a display of status and flexing said status is a fundamental human motive
and now you can do it on a blockchain to anyone with access to the internet.
people like owning jpegs of digital animals that they can flex on other people
its a display of status and flexing said status is a fundamental human motive
and now you can do it on a blockchain to anyone with access to the internet.
Posted on 11/17/22 at 9:52 am to Fun Bunch
quote:
I've specifically said the grifters who made money off of this absolute nonsense are geniuses, so kudos to you sir.
Believe it or not, there is still money to be made every day. While frequency is down due to market conditions, it is still out there.
One of my NFTs utility is access. The big players and influencers provide it's holders with alpha on which projects are likely to produce a quick flip scenario, provide us with whitelists and exit points. Free mint opportunities come up as well. 3 weeks ago I was able to make $1k off of clicking a button 10 times.
This post was edited on 11/17/22 at 9:57 am
Posted on 11/17/22 at 9:54 am to Deactived
quote:
Plenty still have value and could be sold now for great gains.
It's just a smaller subset of the people who got in real early. If those people sell, the bottom falls out further for everyone else.
This isn't just an NFT issue. People are refusing to drop the prices of their homes for sale, still. Used cars, too. We haven't seen a big shift in prices, which they argue shows that the dip isn't really coming.
quote:
Crypto getting hammered has lowered the price of nfts more than the nft fad itself not being as popular
Well no shite
It's all the same bubble economy. The "tendies economy"
Posted on 11/17/22 at 9:56 am to rocket31
quote:
people like owning jpegs of digital animals that they can flex on other people
When their covid stimulus and bubble profits dwindle, and they have to get real jobs in a shite economy without the bubble economies to hop into, you think this will continue?
quote:
its a display of status and flexing said status is a fundamental human motive
and now you can do it on a blockchain to anyone with access to the internet.
Status is stable.
The items used to show status change constantly.
Again, you're assuming a lot for this faith.
Posted on 11/17/22 at 9:56 am to OweO
quote:the narrative will soon be that it was all just for fun, games, and lulz… never any sort of investment
Jones will be here in a little while to tell us why this isn't as dumb of an investment as it seems like.
Posted on 11/17/22 at 9:56 am to SlowFlowPro
quote:
So you are arguing the NFT that had a "floor" of $250k last year and allegedly has a current value of $74k, may be worth 6-figures in 10 years?
If/when ETH returns to it's value in January, it would be right back at floor price. It is tied to the value of the underlying currency.
Posted on 11/17/22 at 9:58 am to SuperSaint
quote:
the narrative will soon be that it was all just for fun, games, and lulz… never any sort of investment
This is going to be the argument of a different population once they have to go back to the real world, for sure.
Just like there is a huge population who has lost a ton of real money holding the bag that is being somewhat ignored in this thread (in the discussion of long-term viability of the assets and industry).
Posted on 11/17/22 at 9:59 am to HeadyMurphey
quote:there is still money to be made in every sort of market even in a down market…. Thanks for clearing that up for us
Believe it or not, there is still money to be made every day. While frequency is down due to market conditions, it is still out there.
Posted on 11/17/22 at 9:59 am to Fun Bunch
The only people these were the rage to were the same people that say #blacklivesmatter. Make of it what you will.
Posted on 11/17/22 at 10:00 am to HeadyMurphey
quote:
If/when ETH returns to it's value in January, it would be right back at floor price. It is tied to the value of the underlying currency.
a. Why not just buy ETH?
b. How does this make any sense? It's value is based on ETH and not the NFT value itself? So the putative buyers won't create their own valuation of the NFT themselves? And they do this convoluted movement to avoid buying ETH directly...why?
Posted on 11/17/22 at 10:00 am to SlowFlowPro
quote:
The items used to show status change constantly.
Again, you're assuming a lot for this faith.
well as the world becomes more digitalized, having some of the first NFTs in a digital space seems like it would be a valuable thing to own, the thesis isnt even that complicated.
Posted on 11/17/22 at 10:01 am to HeadyMurphey
quote:
Strong Community (which provides introverts with a "family", but also creates buying pressure)
This is something I think is hurting some projects longterm. Just people selling to each other and scaring away new people with big sales. A buddy of mine wanted a degen ape awhile back and the floor price was like 7-8k. Normal people can't get into some of those communities
Posted on 11/17/22 at 10:01 am to SlowFlowPro
quote:It's proof of ownership and an easy way to transfer ownership.quote:The question is why this has value.
An NFT is on the blockchain. It has a token address,
Posted on 11/17/22 at 10:02 am to Fun Bunch
Someone paid 2.9 million for the image above, and I just posted it for free.
NFT's are worthless.
Posted on 11/17/22 at 10:02 am to Areddishfish
quote:
The only people these were the rage to were the same people that say #blacklivesmatter
woke libs hated NFTs
some of you are truly dumber than my dick
Posted on 11/17/22 at 10:03 am to SlowFlowPro
quote:
How does this make any sense? It's value is based on ETH and not the NFT value itself?
The market has created a value of the NFT, about 62 times the value of ETH. Those holders watch the market and adjust accordingly. They are not going to let a 72% drop in value of the currency create a discount of their perceived value of the NFT.
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