All of you r****** were pro NFT. POS. Blockchain of everything. The provenance! Ask Bieber how that worked. Valuation.
Once again... I'm talking about BTC, and you keep coming back with NFT. When you can make a solid argument against Bitcoin that can be dealt with rationally, I am ready to listen.
Don't read it. My point is valuation. The stuff has utility as a means to sell your gram of heroin. YOU were all pointing to point of sale, NFTs and the blockchain as revolutionary and all it gave us was ICOs. Hot mic quotes from SBF about the magic money box. Is it tradeable? Yes. I sold my BTC bc I lost access to liquid vol. I have money with FTX.com which I'll probably see in 2030. VALUATION. Nothing has fundamentally changed since 2015 yet the coin has appreciated 150-fold due to corporate mining cos and ETF adoption. Wasn't it supposed to hit $500K on the ETF rollouts? I can probably link you to the threads. You made the same arguments for NFTs that you're making for BTC.
Sorry, @Baron. https://www.elitetrader.com/et/threads/nfts-the-next-wave-of-stupidity.357041/page-3#post-5348286
I'll be quick. If you dump trucks were so laughably wrong about NFTs and the utility of provenance for a turd... what makes you right, now? 99% value gone in months.
I don't think I have ever made arguments for NFTs because I personally didn't believe in them. So you might be thinking about John. With reference to valuation, I think since 2015 the price has appreciated spectacularly, but it is true that in the past few years, and especially with ETF adoption, we haven't quite seen the price appreciation that I thought we would. I am personally surprised by the amount of supply that has been made available, but this does also mean that all the supply has been soaked up. It's okay if you don't believe in the narrative of Bitcoin, but if it truly does underpin the financial system going forward because it will be the only thing that people can trust to not be inflated at the whim of a central bank, then the 21 million coins spread amongst 8 billion people means that we are exceptionally early. It's a really simple proposition in my opinion. Am I better served by a currency that nobody can control and that I can use anywhere in the world, or am I better served by a currency that the government manipulates at will and always ensures that I'm losing my purchasing power? I can clearly envision the monumental benefits of the entire world agreeing on a monetary standard that no corporation or country can manipulate. Everything else we do in the world is downstream of this. There are more and more people every single day who learn about Bitcoin and buy some for the future. I don't know where the tipping point is, but once we hit a critical mass and everybody learns that they need to have some Bitcoin, then we will no longer need to be having these discussions. And I really do think this day is coming.
What has ETH given us other than more magic money boxes and ridiculous gas fees? Where is the killer app? NFTs? Dry-ship manifests on the blockchain? Instead of your scarcity diarrhea you keep repeating... I'm waiting.
This is a great explanation of the evolution of money. I think the problem most of the population has with BTC is that it exists in another universe outside of our physical one. Without the network it’s useless. I believe the possibility of a network failure is remote, but most people don’t know how these things work. There is no trust without understanding. The proof of work concept has always seemed a little weird to me. Throughout our history proof of work was a physical result that made something better for somebody. At this point in the game I don’t think BTC can claim that. I still believe that BTC usage as a means to transact for ANYTHING is necessary to keep this train going. That ability is something BTC hasn’t acquired. A hybrid system that requires you to covert it before you spend it puts a ceiling on the market. Most of the population isn’t that sophisticated.
We're sitting at the March 2021 peak with BTC. Since then we've had inst-investor adoption and large public mining operations. The SPX has gained 40% in USD. Fiat!