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I am glad NFTs exist: they have provided another pressure-relief valve for the massive money printing by the Fed, so that money doesn't all go into real-estate

I am glad NFTs exist: they have provided another pressure-relief valve for the massive money printing by the Fed, so that money doesn't all go into real-estate and commodity speculation, which really harms normal people. It isn't a huge market, but every little bit helps. The crash will be biblical, obviously.

TheCondor 5y ago
Doesn’t the NFT and crypto bubble hurt normal people when it bursts? At least with commodity speculation, you potentially have some overpriced goods, here you literally have some nothing. I really like the efficiency and utility of cryptocurrency but I suspect it will all be set back decades, there will likely be efforts to outright ban/outlaw it after the crash.
lexapro 5y ago
>The crash will be biblical, obviously. You don't know that and you especially don't know when. So please don't use words like "obviously" for things that aren't obvious at all.
- dbancajas 5y ago
  > , and they can reissue another one to replace it. I can make my own website that accepts only apes with mustaches into my site's private area. What's not obvious to you? If you pick up a unique stone off the street with an art printed on it and value that at 50K USD (remember anybody can pickup a stone and it's not difficult to put art on a stone). And then you have a group of people trading that at 50K isn't it obvious the value will go to 0$ when their interest dries up?
  - bostonpete 5y ago
    I'm inclined to agree as I'm extremely skeptical of NFT's but I'd note that your "stone" thought exercise could also be applied to things like trading cards or other collectibles, which also have no objective value but often preserve their value over time (though not always).
  - thevinter 5y ago
    "If you pick up a unique stone off the street with an art printed on it and value that and then you have a group of people trading that at 50K" Didn't you just describe art?
- recursivedoubts 5y ago
  I do know with existential certainty[1] and I know exactly when (in human terms) as well, but I am not going to say... Do your own astral projection research. [1] - it was revealed to me in a dream
- stjohnswarts 5y ago
  Yeah we all the market will crash eventually because that is the nature of markets and of humanity, but people claiming prescience about it are either using inevitability or "taking a chance and calling it", neither of which proves anything unless they can give a precise date and relative "size" of said crash. Otherwise it's just saying "I bet the sun will come up tomorrow"
AccountToUse 5y ago
NFTs and Evergrande, doing everyone a favor by taking money out of circulation

TheCondor 5y ago

Doesn’t the NFT and crypto bubble hurt normal people when it bursts? At least with commodity speculation, you potentially have some overpriced goods, here you literally have some nothing. I really like the efficiency and utility of cryptocurrency but I suspect it will all be set back decades, there will likely be efforts to outright ban/outlaw it after the crash.

lexapro 5y ago

>The crash will be biblical, obviously. You don't know that and you especially don't know when. So please don't use words like "obviously" for things that aren't obvious at all.

dbancajas 5y ago
> , and they can reissue another one to replace it. I can make my own website that accepts only apes with mustaches into my site's private area. What's not obvious to you? If you pick up a unique stone off the street with an art printed on it and value that at 50K USD (remember anybody can pickup a stone and it's not difficult to put art on a stone). And then you have a group of people trading that at 50K isn't it obvious the value will go to 0$ when their interest dries up?
- bostonpete 5y ago
  I'm inclined to agree as I'm extremely skeptical of NFT's but I'd note that your "stone" thought exercise could also be applied to things like trading cards or other collectibles, which also have no objective value but often preserve their value over time (though not always).
- thevinter 5y ago
  "If you pick up a unique stone off the street with an art printed on it and value that and then you have a group of people trading that at 50K" Didn't you just describe art?
recursivedoubts 5y ago
I do know with existential certainty[1] and I know exactly when (in human terms) as well, but I am not going to say... Do your own astral projection research. [1] - it was revealed to me in a dream
stjohnswarts 5y ago
Yeah we all the market will crash eventually because that is the nature of markets and of humanity, but people claiming prescience about it are either using inevitability or "taking a chance and calling it", neither of which proves anything unless they can give a precise date and relative "size" of said crash. Otherwise it's just saying "I bet the sun will come up tomorrow"

AccountToUse 5y ago

NFTs and Evergrande, doing everyone a favor by taking money out of circulation