The underlying investment thesis is that there will be earnings. Fake money does not and never will have earnings. It may have utility, but it is not productive.
Real estate is also always perfect and efficiently valued. Never bought as a speculative asset.
Real estate can also be in a speculative bubble! You may remember this from a 15 years ago.
Eh. We got here because an investment bank had a negative outlook on NFTs based on the idea that most of the activity that has taken place in NFTs so far is from people looking to turn them around and sell them to someone else for more money (as opposed to the utility of the asset itself).
meb said that sort of analysis makes him so mad because you could say that about any asset. I think thatās completely wrong for reasons I have explained, but if you think heās right, then thatās fine. I think I have made my point.
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Lots of things have value that donāt have cashflows. Jesus do we really have to read the same post from Riverman another 12x today he has written 1000x in the last year. Literally no one thinks crypto is exactly like stonks.
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i think if weāre being charitable to one another, i would acknowledge that meb has a point that assets with no income flow (such as gold) can still be good investments for various reasons. and i think he would probably acknowledge that, other things being equal, not having income flow is a mark against an investment.
i also donāt think itās too controversial to say that many nfts are shit being bought for purely speculative reasons and with no hope of a long term value above zero. but in the nft space it can be hard to tell which offerings are like investing in copies of tv guide and which are like buying warhol lithographs.
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Most assets donāt have cashflows. Acting like WELL ACKSHULLY CRYPTO DONT HAS CASHFLOWS SO ITāS WORTHLESS is the ignorant side of this (not saying you are making this argument but itās a common one that has been made plenty).
I mean what percentage of people here who have bought NFTs think they are a bubble? It has to be at least 90%+. Iāve posted over and over itās a bubble and unsustainable. And yet the same terrible arguments keep getting made to try and have the same tired discussion that has been happening here because a few people canāt stop trolling the thread.
Dude you might want to reflect on why youāre so incredibly angry and aggressive here. Iām arguing that fake money and monkey drawings are poor investments and youāre losing it.
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i donāt think itās trolling the thread to post a story about a major investment bankās take on nfts, even if there are problems with that take.
Iām not angry? Bitcoin certainly isnāt fake money though. Iāve never once argued that monkey drawings were good investments. Quite the opposite. Iām convinced you donāt actually read the thread or understand who your perceived opponents even are here.
I think the point that the investment bank was making is if you looked at the market for Warhol lithographs thereās a relatively healthier ratio of people buying them to collect, hold and enjoy to people buying them primarily to flip them for more money than there is in the NFT market. They are correctly pointing out that this ratio matters for future price outlook.
Consider the source. Itās literally all he does here and is the exact definition of trolling.
lol we both know the same story was posted in the discord. i guess what matters is who posted it.
I donāt get how crypto can be fake money when I use it to buy pizza.
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Wait what are we talking about here? Strontium posted the article you guys have been discussing. Which is fine? Riverman is just driveby trolling with the Miamicoin and every other post. Posting the article seems fine.
If this is supposed to be a characterization of the recent exchange ITT, then I agree with Riverman that you seem unhinged and mad.
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This is flat out wrong on multiple levels. I can buy tokens that grant me an ownership percentage of a crypto project, stake those tokens to help secure it, and earn a return for doing so.
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Isnāt that true though? For instance, in the Covid thread, if churchill posts an article critical of the USās response to Covid or highlighting something good about the UK, everyone starts complaining about anti-US trolling. But if someone else posts the exact same article itās all good.
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It seems like bitcoin frequently gets stuck trading between a range, where it just bounces around. It seems like I could do well with simple buy x/ sell y strategy. Like right now, buy at $29 and sell at $31ā¦
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Cāmon dude, just in your last post you sarcastically characterized my position as 'but. butā¦ stocks represent something real!". And his first reply to this exchange was something about a ābunch of senior citizensā. Not that I care, but Iām not trying to retreat to the high road to make my point.