Bitcoin/cryptocurrency thread

[topcat(The most tip top)]

Not really. If you sell a Rembrandt to someone for £10m, you wouldn't say that person has lost £10m.

On the other hand, If I sell them a jpeg of a Rembrandt …

[DiegoDiego]

A bored ape jpg hasn't built up its value for hundreds of years, nobody thinks its non speculative value is more than a few quid, maybe a hundred at most. It's speculation in its purest form with next to no innate worth. 

I actually disagree somewhat. The Bored Ape brand is certainly seen as valuable and owning a Bored Ape gives you IP rights to that ape.

Regardless of that sidetrack, saying it wasn't a serious investment opportunity is a somewhat bizarre claim.

[welshbairn]

3 minutes ago, DiegoDiego said:

I actually disagree somewhat. The Bored Ape brand is certainly seen as valuable and owning a Bored Ape gives you IP rights to that ape.

Regardless of that sidetrack, saying it wasn't a serious investment opportunity is a somewhat bizarre claim.

When you say IP rights, do you mean copyright? In which case of course it would have value, a rapidly diminishing one if many other NFTs were sold with the same image.

Edited May 11, 2022 by welshbairn

[Aufc]

Why can’t there be some middle ground on crypto. Yes it is higher risk. Yes it is volatile. As with most investments, there is always risks. I don’t understand why people who haven’t invested in crypto are so determined for it to fail. Bizarre behaviour

[Detournement]

36 minutes ago, DiegoDiego said:

55 minutes ago, Detournement said:

Who? 

The data is publicly available, you can do your own research.

Trades have happened but it's all wash trading ie the same parties moving their money and NFTs between different accounts they control.

 

 

[welshbairn]

17 minutes ago, Aufc said:

Why can’t there be some middle ground on crypto. Yes it is higher risk. Yes it is volatile. As with most investments, there is always risks. I don’t understand why people who haven’t invested in crypto are so determined for it to fail. Bizarre behaviour

This post is representative of why I question the market. BUY NOW ON THE DIP, WE'RE ALL GOING TO BE RICH!!!! It's speculation on what other punters will do that is the entirety of its value. I suspect a lot of investors don't really understand the market but are terrified of losing out because clever people make out that they do with a lot of made up jargon.

On 10/05/2022 at 09:26, Satoshi said:

Was a fantastic time to buy a few hours ago (sadly I was unable to at the time) but still fairly good now.

This very much applies to the stock market as well.

Got to love a bit of a dip.

It may well keep crashing but if you've got good fiat reserves (or regular income) that just leaves more cheap buying opportunities.

I'll caveat this by saying I am comfortably down 10s of thousands £ from the peak (and bigger drop in crypto Vs stock market).

There will be new peaks for both, so a great time to load up.

 

Edited May 11, 2022 by welshbairn

[topcat(The most tip top)]

When you say IP rights, do you mean copyright? In which case of course it would have value, a rapidly diminishing one if many other NFTs were sold with the same image.

You’re not buying the copyright you’re in effect buying a numbered “limited edition” copy produced by the copyright holder.

[welshbairn]

4 minutes ago, topcat(The most tip top) said:

You’re not buying the copyright you’re in effect buying a numbered “limited edition” copy produced by the copyright holder.

So you can't even print out posters from your unique NFT and flog them? Why is the cost multiple times an analogue limited edition print?

Edited May 11, 2022 by welshbairn

[DiegoDiego]

You’re not buying the copyright you’re in effect buying a numbered “limited edition” copy produced by the copyright holder.

It depends on how the NFT contract is written, but if you buy a Bored Ape you buy the right to put the image on a hoodie, mug, sticker, make it into a feature-length cartoon or whatever. If anyone else does then you can take them to court in the same way Thistle could if I started selling replica Thistle shirts.

[gaz5]

 

In fairness, it's a market like every other.

Moves the same way for the same reasons.

I get that people don't like/understand crypto as a technology, but that doesn't detract from how all markets move.

I'm with you on the buy the dip bullshit, as I explained in depth above.

[Derry Alli]

Didn't that KSI lose a fortune on they bored ape NFT's? 

[morrison]

Bit of chat on the Luna stuff:

 

 

[Left Back]

15 minutes ago, Mr. Alli said:

Didn't that KSI lose a fortune on they bored ape NFT's? 

Must have been some monkey business going on if so.

[topcat(The most tip top)]

So you can't even print out posters from your unique NFT and flog them? Why is the cost multiple times an analogue limited edition print?

Limited edition prints can be very valuable if it’s a Picasso lithograph or even a Dürer woodcut

The question should be why it costs more than a limited edition print of some generic and frankly shit art

[gaz5]

Limited edition prints can be very valuable if it’s a Picasso lithograph or even a Dürer woodcut

The question should be why it costs more than a limited edition print of some generic and frankly shit art

I'm with you on this.

NFT has some potentially practical applications that could be useful in the long run.

But the current "use case" and people actually willing to pay these crazy figures (and gas fees) is wild to me.

It has been a useful lesson in markets and investing for my wee one (using VeVe), so that's been handy at least.

[welshbairn]

33 minutes ago, topcat(The most tip top) said:

The question should be why it costs more than a limited edition print of some generic and frankly shit art

I wouldn't go as far as saying it's shit but I prefer Gorillaz work myself.

[Jambomo]

1 hour ago, DiegoDiego said:

1 hour ago, topcat(The most tip top) said:

You’re not buying the copyright you’re in effect buying a numbered “limited edition” copy produced by the copyright holder.

It depends on how the NFT contract is written, but if you buy a Bored Ape you buy the right to put the image on a hoodie, mug, sticker, make it into a feature-length cartoon or whatever. If anyone else does then you can take them to court in the same way Thistle could if I started selling replica Thistle shirts.

That’s kind of the flaw too though. Owning the copyright in general is useful because a lot of people respect it, but those willing to take the risk or just actual thieves, often don’t care about the copyright and just go right ahead.

The problem for copyright holders is that you can’t easily know when something is created that breaches copyright. Tracking it is nearly impossible and then your option is what, takedown notice? to prosecute them? You won’t get much out of either of those options. 

[DiegoDiego]

That’s kind of the flaw too though. Owning the copyright in general is useful because a lot of people respect it, but those willing to take the risk or just actual thieves, often don’t care about the copyright and just go right ahead.
The problem for copyright holders is that you can’t easily know when something is created that breaches copyright. Tracking it is nearly impossible and then your option is what, takedown notice? to prosecute them? You won’t get much out of either of those options. 

Indeed. And that's why I've spent my life carefully avoiding creating anything of intrinsic value, including my many posts on here.

[topcat(The most tip top)]

That’s kind of the flaw too though. Owning the copyright in general is useful because a lot of people respect it, but those willing to take the risk or just actual thieves, often don’t care about the copyright and just go right ahead.
The problem for copyright holders is that you can’t easily know when something is created that breaches copyright. Tracking it is nearly impossible and then your option is what, takedown notice? to prosecute them? You won’t get much out of either of those options. 

That’s kind of the flaw too though. Owning the copyright in general is useful because a lot of people respect it, but those willing to take the risk or just actual thieves, often don’t care about the copyright and just go right ahead.
The problem for copyright holders is that you can’t easily know when something is created that breaches copyright. Tracking it is nearly impossible and then your option is what, takedown notice? to prosecute them? You won’t get much out of either of those options. 

And given that, in this case, the one you “own” looks very much like a lot of other ones the scope to mix and match your own unique rip off/homage is obvious.

You could put one in a Red and yellow stripes strip on Diego’s one and sell it to him on t shirts outside Firhill

[DiegoDiego]

You could put one in a Red and yellow stripes strip on Diego’s one and sell it to him on t shirts outside Firhill

Done. PM me your wallet address and I'll send over some BTC.