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Business Non whatable tokens? v. The All Encompassing Cryptocurrency Nonsense Thread

deficiT

deficiT

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So, I guess NFT's are all the rage at the moment. I felt like I had just recently gotten a handle on wtf cryptocurrency's we're and how they worked, and now it seems something newer has come around that is sucking in all of the tech nerds.

I figured I'd open this thread to talk generally and in-depth about crypto and tokens, so direct all related conversation here.

Whoever is able to formulate the best laymen's explanation for how crypto and tokens work, and what the difference is, I will drop it into this OP and give you credit.

As well! I have a cool offer for anybody interested. My cousin is launching his very own token. And all that's required to participate is following his accounts on Twitter, and starting up a wallet that can hold this token.

Participating in this can very possibly net you a good chunk of change (thousands USD), with no cost to yourself. Sounds scammy I'm sure, but yeah my cuz is a good dude, and again this requires no form of investment.

I'm doing it myself, so I'll be playing along as well. Anybody that is interested in participating, just comment as much in the thread and I will get you the details!
 
NFTs are definitely a fad right now, the NFT memes/art will die out is my opinion, some of the cool AI generative art NFT projects may remain, but the concept of an NFT (a unique token on the blockchain which can utilize smart contracts) is a powerful concept... I believe the techology will find use in immutable record keeping (imagine for example the deed to property existing immutably in a decentralized information system). Also the metaverse is a new thing, and NFTs play heavily into that... we'll see where that goes.

But yeah, 8 bit art like cryptopunks selling for millions of dollars is not going to last, that shit is just dumb.
 
The line is going down...

I mostly use crypto for buying drugs (as it should be) but I occasionally hold on to some if it looks like something interesting is happening. I got lucky with the timing in 2020 and the profits from that paid my way through my last year of university. There was a bitcoin halving this year so maybe that'll lead to some decent gains by the end of the year. That's what happened in the 12 months following the last 2 or 3 halvings, but really who knows. It's all essentially random with a little bit of hype mixed in.

But yeah it's mainly for buying drugs 👍
 
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