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Crypto NFT and unregulated investment


Bristol Rob
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Crypto is interesting. I don't claim to know everything about it. But what I do know makes me want to avoid it. Environmentally it's very bad for the planet, in general it's murky and unregulated and it's value is speculative. Much of those are shared with NFT's as I understand it. With these things amongst others come added risks and complication.

However, it's such a huge market now where so many people hold money that I can't see any result other than some sort of Government intervention. 

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I'm relatively into crypto - agree with the post above though I should point out that there are some green cryptocurrencies which unfortunately seem to be overlooked. Very surprising considering the energy usage of some of them is completely unsustainable, which makes their rises all the more mystifying.

I'm still yet to 'get' NFT's. I grasp the basic concept of them but I've never once seen an example of a realistic use case.

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3 hours ago, The Batman said:

Isn't crypto just like the stock market?

Buy low, sell high.

What I don't get is people being able to pay for items with bitcoin (for example). How does that work? 

The same way as with cash. You send Bitcoin in return for an item.

The biggest difference is that Bitcoin is pretty dreadful. It's relatively slow (hour or 2), it's expensive to send, and it's dreadful for the environment as it uses so much power. As far as crypto's go, it's one of the worst, but it's the 'gateway' in to others.

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On 06/01/2022 at 16:48, nebristolred said:

I'm relatively into crypto - agree with the post above though I should point out that there are some green cryptocurrencies which unfortunately seem to be overlooked. Very surprising considering the energy usage of some of them is completely unsustainable, which makes their rises all the more mystifying.

I'm still yet to 'get' NFT's. I grasp the basic concept of them but I've never once seen an example of a realistic use case.

Sorare is a use case. You buy nft football player cards and enter them into 5 aside competition based on their real life scores to win Eth or more cards. The company recently raised 600 million dollars and is valued at over 4 billion dollars. 

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On 16/01/2022 at 03:31, Padlad said:

Sorare is a use case. You buy nft football player cards and enter them into 5 aside competition based on their real life scores to win Eth or more cards. The company recently raised 600 million dollars and is valued at over 4 billion dollars. 

Fair enough looks interesting even if a little specific - I'm not an expert on NFT's so this is partly my ignorance but I'm not sure that NFT's actually solve a problem here though? These things can be done (and are done) already. I'll definitely look into it though.

7 hours ago, Fordy62 said:

I bought some crypto worth £100 once. Just checked and it’s worth £5. 

As per gambling, don’t gamble more than you can afford to lose. 

Absolutely. The market in general has grown hugely though, so if you believe in the fundamentals of a project, and haven't just gone for some random ****coin, chances are you will be up over the years, unless you're quite unlucky. But treating it as a speculative punt is the golden rule for sure.

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