Was just curious if any of the MFK fam were following the Crypto / NFT craze on here?
Anyone into Crypto / NFT on here?
- Thread starter Fat Homer
- Start date
^ im impressed your parents bought some, most of the time i hear its the younger gen that buy it and then their parents ask them to help get in on the action…
I am old- in my 70s. I worked in wall street in the 1980s and early 90s. I was a broker, a financial planner and, in the end, a pension consultant to large defined benefit plans. Today I am retired and my main source of income is dividends. I have managed family and personal money for over 40 years.
I do not understand crypto or NFTs. I see no intrinsic value to them. I see no rational way to value them. So I will leave it to others to buy and sell this stuff and I will invest my money in things I understand. I would be more inclined to invest in a company which buys, sells and holds these tings for others. I would rather own the casino than be a gambler.
I do not get buying things in the metaverse either.
Every time I listen to explanations of crypto/nfts and why to own them, I keep hearing "The king has no clothes!"
I do not understand crypto or NFTs. I see no intrinsic value to them. I see no rational way to value them. So I will leave it to others to buy and sell this stuff and I will invest my money in things I understand. I would be more inclined to invest in a company which buys, sells and holds these tings for others. I would rather own the casino than be a gambler.
I do not get buying things in the metaverse either.
Every time I listen to explanations of crypto/nfts and why to own them, I keep hearing "The king has no clothes!"
TwoTankAmin
i trade in traditional stocks and am starting a business doing NFT’s so know how confusing it all is…I guess the easiest way to explain Crypto in modern day terms is that its a new decentralised currency for purchasing products from very select companies (mainly ones owned by Gen X / Z type people) and to purchase NFT’s… there is also staking crypto or just straight trading it in the sense you would trade currency to play the odds of it raising or falling…
Now for the NFT side of things, it really depends on what type of NFT you get into, as there are those that like stocks that pay off dividends each month, then there are those that allow you to vote in what direction a company takes or what actions they perform…
For example, a lot of the European football (soccer) clubs have tokens (NFT) so that owners of said NFT can vote on uniform designs, ideas for what they should do for events etc…
There is also the social aspect of owning NFT’s in the form of PFP’s for gaming platforms, character skins etc… kind of the younger versions way of showing off to the world in a virtual space the way the old millionaires might own a lot of cars…
But as the whole metaverse / NFT / Crypto world keeps evolving they are being used in other ways as well, such as exclusive club memberships etc, where in order to get into said venue, you have to show that you own their NFT in order to even get through their front door to be a patron…
i mean just speaking to a few investors they also compared the craziness to the .com boom of the 90’s except back then companies maybe evaluated anywhere from 10-100x its value, where as with the crypto world it can be valued at anywhere from 1000-10,000x its value…
I was too! I am practically broke right now, so I don’t have very much money to invest!
My uncle is practically rich! He bought some amount of bitcoin and something else really early on.
I still don’t understand what an NFT is.
That sucks! Nothing worse not being able to get back into your wallet… hope it isnt too much in there…
Easiest way is to think of it as digital artwork that has benefits, just that the level of benefit depends on the rarity of the artwork…
like if its super common (mass produced) you might only get basic benefits from it such as a vote on a football clubs home and away jersey design…
on the rarer end, you could get paid “X” amount of crypto each month for being the lucky owner of a 1 off or 1 of 10 piece of art… which could also be sold for a stupid amount of money…
I will never understand why some pay thousands for little more than jpegs of pixelated monkeys...
i sold at the wrong time,
i’d imagine it will continue to tank for a time as conflict continues…
my understanding is That R country uses a lot / has a lot of the bitcoin…
i’ll dabble again when i’ve got some funds to invest -
i’d imagine it will continue to tank for a time as conflict continues…
my understanding is That R country uses a lot / has a lot of the bitcoin…
i’ll dabble again when i’ve got some funds to invest -