Bitcoins anyone?

[StylinRed]

I had ordered a few helium miners from syncro.bt, back at the end of March or so

Fuckers still haven't shipped, and are still coming up with bs excuses

They had a few mini shipments to Europe and the US distributors, who supposedly just scalped the units and shipped out random orders, not following the queue

Their official discord doesn't allow commenting, and emailing support is like playing Russian roulette to get a reply

I asked for a refund, and included all my details, in the message

They reply back with asking for me to repeat the same details

Then I never heard back -_-

[unit]

my gf bought a bobcat miner like 4 months ago and just got it last week.

[Razor Ramon HG]

Originally Posted by SkinnyPupp

A painting is worth what someone will pay for it... You're basically making my argument for me

If someone owns the Mona Lisa, they can say they have something worth $130 million or whatever, because someone will pay that

If someone has an NFT and says it's worth $30K, I say try selling it for that.

Yeah, but people aren't selling Mona Lisa NFTs that have been appraised by Sotheby's.

NFTs you see right now are comparable to regular artists/folks (for the most part) posting their drawings on like eBay marketplace.

You're totally missing the point.

[SkinnyPupp]

Originally Posted by Razor Ramon HG

Yeah, but people aren't selling Mona Lisa NFTs that have been appraised by Sotheby's.

NFTs you see right now are comparable to regular artists/folks (for the most part) posting their drawings on like eBay marketplace.

You're totally missing the point.

Who is buying these $30,000 JPEGs?

It's funny, I've been a bitcoin proponent from day 1 (though I have to say I don't like the "culture" that spawned from it). You can see it right here in this 9 (!) year old thread.

The funny part is many of the things people said about bitcoin but were wrong and we argued about back then, are actually right about NFTs

BTW I totally accept that I may be missing the point, I just haven't seen anyone prove it... If I see someone sell an NFT for 5 figures and turn that into bitcoin or fiat, that would certainly help convince me. But more likely it just means the bubble is even bigger than I thought.

[unit]

lots of people are buying these 30k jpgs, because they have worked their way up in the opensea market to be able to afford 10 eth or whatever it is. hardly anyone is actually dumping their hard earned savings into eth to buy a 30k jpg, other than celebrities like steph curry who just bought a bored ape for 55 eth, or 180k usd. check out the volume on opensea and you can see how fast the market has grown, and in my opinion it's still growing, but i can't say for how long.

https://ca.movies.yahoo.com/opensea-...133114338.html

i agree that most nfts are worthless and will become worthless again someday, but some actually have utility. some of them are for example, part of play to earn games. there is a game called axie infinity that you can earn somewhere around $2k per month playing 8 hours a day. the problem is you need a good team, and that consists of buying 3 'axies' that are nfts. a good team costs around $3-4k right now that will make earning the in game crypto more effective.

sure 2k doesnt sound like a ton of money but a lot of the players are from developing countries. they have a program called 'scholarships' where owners of axie teams can 'hire' scholars from the phillipines to play their teams for them and they get something like a 50/50 split on the currency earned. you should see how many scholars apply to these positions.. if you are accepting applications to hire scholars, you'll get at least 20 in the first few hours. i've seen some guys have over 100 teams of scholars that they manage. so even after the split, thats like making 100k per month... of course these are guys who either bought axies when they were cheap, or have traded their way up to having lots of eth in their wallets... either way it's pretty interesting stuff and it proves that there is some real utility in play to earn with nfts.

[Razor Ramon HG]

Originally Posted by SkinnyPupp

Who is buying these $30,000 JPEGs?

It's funny, I've been a bitcoin proponent from day 1 (though I have to say I don't like the "culture" that spawned from it). You can see it right here in this 9 (!) year old thread.

The funny part is many of the things people said about bitcoin but were wrong and we argued about back then, are actually right about NFTs

BTW I totally accept that I may be missing the point, I just haven't seen anyone prove it... If I see someone sell an NFT for 5 figures and turn that into bitcoin or fiat, that would certainly help convince me. But more likely it just means the bubble is even bigger than I thought.

I think NFTs are in a very big price discovery phase as it's a completely new concept and asset right now. That and the inherent greed in people and you have the price action and amount of junk on Opensea right now.

With that said, I don't think it takes away from the core concept of NFTs and means it has no monetary value. There is monetary value, it just varies from piece to piece because art in most cases is original and subjective.

I'll be honest. While this sounds hypocritical, I don't own any NFTs because I don't see the value in them that makes them worth it for me. However, my personal beliefs doesn't mean others don't see the value in it.

If a bunch of people think a picture of a pepe is worth $30,000 and I think it's worth $3, who am I to say they are wrong?

P.S. I am not defending that some NFTs deserve to be worth $30,000. I am just saying that the blanket statement of NFTs having no value is wrong.

[SkinnyPupp]

Originally Posted by Razor Ramon HG

I'll be honest. While this sounds hypocritical, I don't own any NFTs because I don't see the value in them that makes them worth it for me. However, my personal beliefs doesn't mean others don't see the value in it.

If a bunch of people think a picture of a pepe is worth $30,000 and I think it's worth $3, who am I to say they are wrong?

P.S. I am not defending that some NFTs deserve to be worth $30,000. I am just saying that the blanket statement of NFTs having no value is wrong.

You're arguing 2 different things with me, one of which I don't agree with.

If some people think a picture is worth $30K, by all means, go buy it

But this isn't art collectors buying painting, or gem collectors buying rare rocks, or weirdos who buy animal parts.

It's all the same collection of people, all hoping to be the one who becomes the suckee rather than the sucker. They're like a pile of zombies crawling all over each other, some buying at $3 some at $3000 and some at $30,000. Just devouring each other with bloated ETH wallets from the last boom, trying to be the one that ends up on the top of the pile of zombie meat before it collapses.

Because it doesn't matter if you or I would buy an NFT... That's not what I'm arguing here. What matters is, who would? Maybe some people who just really are getting conned by the whole thing, or some celebrities or athletes, but more likely it's other "bitcoin millionaires" playing the next version of the gambling game.

If you happen to be able to sell something for $30K, great for you. Good luck with that, but maybe someone will buy it from you. But that person doesn't see any value in that JPEG, they just want to sell it to the next guy for $60K. And so on.

[unit]

even collectors for other mediums of value are generally collecting so they can sell it to someone else later.. if i offered you the mona lisa for 1 million you probably wouldn't want it if i stipulated that you could not under any circumstances sell or profit from having it. 1m is a lot of money for something that just sits in your living room and is nice to have.

if you could profit from it then you'd take out a mortgage and then resell it for at least 100m extra.

of course these things are a little different right now, but whos to say they will always be that way? cryptopunks, bored apes, and even curio cards are selling at Christie's and Sotheby's these days. 4 months ago you could buy a bored ape for 1 eth... now the floor on them (cheapest one you can buy) is 40 eth.

https://www.theverge.com/2021/5/11/2...ale-larva-labs

https://www.sothebys.com/en/buy/auction/2021/ape-in

https://news.bitcoin.com/british-auc...-on-october-1/

[StylinRed]

It's the most ridiculous thing in the world (NFTs) insane high risk to hold, ud be crazy to, but if u were just buying n selling it would make sense as long as ur fine with high risk trades

I wouldn't touch it, but can see why some would want to

[Razor Ramon HG]

Originally Posted by SkinnyPupp

Because it doesn't matter if you or I would buy an NFT... That's not what I'm arguing here. What matters is, who would? Maybe some people who just really are getting conned by the whole thing, or some celebrities or athletes, but more likely it's other "bitcoin millionaires" playing the next version of the gambling game.

If you happen to be able to sell something for $30K, great for you. Good luck with that, but maybe someone will buy it from you. But that person doesn't see any value in that JPEG, they just want to sell it to the next guy for $60K. And so on.

There are a lot of reasons some one might buy a NFT for the same reason that someone might buy a painting in real life. Some buy might it as an investment, some might buy it to launder money, and some might buy it because they like digital art.

Not every NFT is going to cost five digits in the same way that the painting hung at your local coffee shop didn't cost a million.

If your problem is that people are buying for the sole purpose of flipping it for a quick buck, well, that's just capitalism and is not something limited to just NFTs.

Again, I'm not against or for NFTs. I can just see why people are interested in it and that there's a valid use case for them. If you think of them as trading cards for millennials, I think it helps wrap your head around the concept.

[$_$]

Originally Posted by $_$

up 154% since I last posted about it ... up prob 150x since end of last year / begig of this year ... if you haven't checked it out, plz check it out. it's #solanaszn and it has the best chance of bringing real adoption

[Razor Ramon HG]

I bought some a week ago on a whim because my cousin (a crypto trader) mentioned it. Told me to get some because it's trendy and there's a lot of volume. He thinks it's ultimately vaporware though (as with most cryptos).

[unit]

its not only trendy but it's a contender to replace etherium for the nft market which is why its pumping so hard.

[StylinRed]

I had Solana earlier in the year then sold it cuz it looked like it was a dud :/

[mikemhg]

Originally Posted by SkinnyPupp

You're arguing 2 different things with me, one of which I don't agree with.

If some people think a picture is worth $30K, by all means, go buy it

But this isn't art collectors buying painting, or gem collectors buying rare rocks, or weirdos who buy animal parts.

It's all the same collection of people, all hoping to be the one who becomes the suckee rather than the sucker. They're like a pile of zombies crawling all over each other, some buying at $3 some at $3000 and some at $30,000. Just devouring each other with bloated ETH wallets from the last boom, trying to be the one that ends up on the top of the pile of zombie meat before it collapses.

Because it doesn't matter if you or I would buy an NFT... That's not what I'm arguing here. What matters is, who would? Maybe some people who just really are getting conned by the whole thing, or some celebrities or athletes, but more likely it's other "bitcoin millionaires" playing the next version of the gambling game.

If you happen to be able to sell something for $30K, great for you. Good luck with that, but maybe someone will buy it from you. But that person doesn't see any value in that JPEG, they just want to sell it to the next guy for $60K. And so on.

You're totally right, and historically speaking (i.e the Tulip crash), most of these things don't pan out well down the line.

https://en.wikipedia.org/wiki/Tulip_mania

This is yet another get rich quick scheme that I believe will collapse at some point here, if I'm wrong, quote me here. This won't pan out long term, especially these ridiculous NFT JPEGs of garbage pictures.

The very fact that the people who involve themselves in this stuff and feel the need to drum up excitement by attempting to engage people into this stuff should be a clear sign of that.

It reminds me of an MLM scheme.

[SkinnyPupp]

Originally Posted by mikemhg

You're totally right, and historically speaking (i.e the Tulip crash), most of these things don't pan out well down the line.

https://en.wikipedia.org/wiki/Tulip_mania

This is yet another get rich quick scheme that I believe will collapse at some point here, if I'm wrong, quote me here. This won't pan out long term, especially these ridiculous NFT JPEGs of garbage pictures.

The very fact that the people who involve themselves in this stuff and feel the need to drum up excitement by attempting to engage people into this stuff should be a clear sign of that.

It reminds me of an MLM scheme.

Yup and like I said, people were saying the same thing about Bitcoin. But at the time it was obvious to see that they were wrong, and they were proven wrong.

This time it's obvious they're right, and I think they'll be proven right.

That doesn't mean some people won't make a lot of money. Like if that dude sells that NFT for 13 ETH, and sells that ETH into BTC or USD. (and don't forget to pay your taxes! )

[Manic!]

Did some research on NFT bidding. To make a bid or offer you have to have the crypto in your wallet. When you make an offer it's a contract. As soon as the person accepts the money is automatically sent.

[Razor Ramon HG]

Originally Posted by mikemhg

This is yet another get rich quick scheme that I believe will collapse at some point here, if I'm wrong, quote me here. This won't pan out long term, especially these ridiculous NFT JPEGs of garbage pictures.

It probably won't collapse, but people will likely be holding bags as it phases out of popularity, e.g. cryptokitties.

Originally Posted by SkinnyPupp

This time it's obvious they're right, and I think they'll be proven right.

NFT will succeed simply because there is a very valid use case for them.

The limiting factor I think right now is the amount people trying to make a quick buck that sort of discredits it. But I guess people might argue that it's the price you pay for adoption.

[unit]

its an immature market trying to find it's best use. selling pictures of apes is clearly not it's best use, but as long as the nft market stays alive, the early projects will be desired, kind of like wanting a gordie howe rookie card.

the slug nft i own is a garbage picture, but it actually has utility. its a ticket to 3 years of gary's conference veecon, as well as other value he is constantly throwing on and has committed to for the next 40 years. while it may not be worth what it's worth right now if it weren't for hype in the nft market, it does have some intrinsic value unlike so many others. same applies to the gaming nfts that actually help people earn money which pays off the nft, then creates an income as well.

personally i think nfts are here to stay, but i don't think they've found their ideal use yet.

[mikemhg]

Originally Posted by unit

its an immature market trying to find it's best use. selling pictures of apes is clearly not it's best use, but as long as the nft market stays alive, the early projects will be desired, kind of like wanting a gordie howe rookie card.

the slug nft i own is a garbage picture, but it actually has utility. its a ticket to 3 years of gary's conference veecon, as well as other value he is constantly throwing on and has committed to for the next 40 years. while it may not be worth what it's worth right now if it weren't for hype in the nft market, it does have some intrinsic value unlike so many others. same applies to the gaming nfts that actually help people earn money which pays off the nft, then creates an income as well.

personally i think nfts are here to stay, but i don't think they've found their ideal use yet.

So you dropped $2K USD for a JPEG of a slug that acts as an "exclusive" ticket to Gary Vee's little pow wow conference for the next 3 years?

No offence but say that out loud and tell me that doesn't sound crazy

[unit]

when you buy a $200 concert ticket do you think of your purchase as a barcode? whether it's a jpg or not, it's more like a ticket and membership.
it's a 3 day conference for 3 years, so you have to value that 3 year pass for at least $1000 no matter how you look at it.
(some) people are paying like $10k to go to ted talks, $2k for veecon + perks for the rest of gary's life seems reasonable.

[SkinnyPupp]

Not knowing who "gary" is, the fact that it's a ticket for something makes it seem a lot better than just a jpg. Still dumb just not AS dumb

[westopher]

Sounds more like an MLM scheme than ever now haha.

[SkinnyPupp]

Yeah once they start attaching "personalities" to this stuff and "branding" it definitely leans more that way

[BlackV62K2]

When you log onto some of your old exchange and thought you have emptied them out but find $15 worth of coins lol