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Demon Non Fungible tokens

Diamond_Jim
in Melbourne Demons

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first the afl jumps into bed with the sports gambling industry

now their hip pocket is bulging as they jump into bed with digital non fungible tokens

any chance they could look after ... you know ... the err ... game of footy?

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    3 hours ago, daisycutter said:

    if you are interested, uncle, i have some excellent pet rocks i can sell you at a very reasonable price

    even better these pet rocks are metamorphised into a genuine virtual digital token and each one is unique

    don't thank me, just send me money and i will digitally register your new assets 

    Pet rocks come to mind -  at least you could hold a pet rock. 

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    NFT’s are very much here to stay. Theyre already huge and some are selling for close to a million bucks. 

    Why? yes you can buy and swap as previously mentioned. But also,  In an online world you can use an NFT as part of your digital identity i.e  put up on your social media pages as part of how you or your business defines itself  online. wearing a rolex may have impressed certain people in the past… ie people you actually met. But that's the old school version which was also stupid in its own way. If it was all just about telling the time you could just wear a swatch.

    A well known and /or exxy NFT on your social media pages or on the pages of your business might impress anyone who visits your sites. This  could be, depending on what you’re doing or want to do, many thousands of people per day. Try to argue that has no value!  The owner of an nft can be verified online in seconds so you can’t really duplicate it.

    Like it or not, as long as we’re in an online world NFT’s are here to stay and only going to get bigger. 

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    I don’t quite understand the value of NFTs but can’t deny the money flying about. Probably best to hedge bets and explore it.

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    It's like any gold rush where there's a fortune for the ones who are there on the ground at the start. For the second comers, there might be fortunes to be made or you might get fleeced.

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    A nephew the other day said he’d help me set my art up for the NFT market. Might as well have told me he was going to build a bridge out of mashed bananas. But thanks to this thread, I now understand! 👏🏻

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    Methinks this stuff is very similar to collecting tulips in Amsterdam 300 years ago,  bitcoin speculation, and barbie dolls.

    only worth what someone else will pay for them. And in the end if there is nothing behind it.  There is nothing.

    a lump of gold  can hurt if you drop it on your foot and there is enough of it.

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    A day of reckoning will come for cryptocurrencies and NFT's when someone decides to make them accountable for the carbon footprint.  For Bitcoin:

    And bitcoin is but one player in this digital space.

    Until fossil fuel use for electricity is minimised cryptos, NFT's etc will churn through unfathomable amounts of electricity with the accompanying environmental problems. 

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    Good point LH.

    A lot of the electricity for bitcoin mining is stolen or the servers are located in countries where electricity is cheap.

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    13 hours ago, The Stigga said:

    hGS5rJQCAe-eR7qMJU7eduteE2RX8ZJcrTRRYyP9

     

    53 minutes ago, 640MD said:

    Methinks this stuff is very similar to collecting tulips in Amsterdam 300 years ago,  bitcoin speculation, and barbie dolls.

    only worth what someone else will pay for them. And in the end if there is nothing behind it.  There is nothing.

    a lump of gold  can hurt if you drop it on your foot and there is enough of it.

    That jar of Magic Beans should be tulip bulbs.

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    6 minutes ago, Diamond_Jim said:

    Good point LH.

    A lot of the electricity for bitcoin mining is stolen or the servers are located in countries where electricity is cheap.

    Its amazing how they can piggy back private computers to access the electricity. 

    Even where electricity is cheap it is still a massive carbon footprint.  Policy makers, activists etc are so busy focusing on fossil fuels, global warming in general terms they aren't placing accountability where it lies. 

    Bitcoin et al should have as much heat on them as AGL.

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    The bitcoin world is perfectly aware of how much planet destroying they are doing. And for each "coin" that is "mined", the amount of electricity goes up. It's built in, intentionally. The analogy is that to mine more and more gold, you have to dig deeper and deeper into the ground. It's an artifice.

    Meanwhile the competitor "coins" are bragging that they don't use as much power.

    But ultimately, the people making money out of bitcoin can't bring themselves to address the problem, because they're making money. So how much of a problem can it be?

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    • Like 1
    2 minutes ago, Mazer Rackham said:

    The bitcoin world is perfectly aware of how much planet destroying they are doing. And for each "coin" that is "mined", the amount of electricity goes up. It's built in, intentionally. The analogy is that to mine more and more gold, you have to dig deeper and deeper into the ground. It's an artifice.

    Meanwhile the competitor "coins" are bragging that they don't use as much power.

    But ultimately, the people making money out of bitcoin can't bring themselves to address the problem, because they're making money. So how much of a problem can it be?

    That is why policy makers need to make them accountable. 

    At least put the spotlight/blowtorch on them.

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    4 hours ago, Wells 11 said:

    NFT’s are very much here to stay. Theyre already huge and some are selling for close to a million bucks. 

    Why? yes you can buy and swap as previously mentioned. But also,  In an online world you can use an NFT as part of your digital identity i.e  put up on your social media pages as part of how you or your business defines itself  online. wearing a rolex may have impressed certain people in the past… ie people you actually met. But that's the old school version which was also stupid in its own way. If it was all just about telling the time you could just wear a swatch.

    A well known and /or exxy NFT on your social media pages or on the pages of your business might impress anyone who visits your sites. This  could be, depending on what you’re doing or want to do, many thousands of people per day. Try to argue that has no value!  The owner of an nft can be verified online in seconds so you can’t really duplicate it.

    Like it or not, as long as we’re in an online world NFT’s are here to stay and only going to get bigger. 

    I'm with you there @Wells 11; got a brother who is into collecting (relatively) expensive watches. Can't see the point of it myself, it's not like they go any faster!

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