20i Domains

Early Adopters - NFT - Crypto - Interesting projects.

Discussion in 'General Board' started by dee, Feb 25, 2021.

  1. ian

    ian Well-Known Member

    Joined:
    Jan 2008
    Posts:
    4,202
    Likes Received:
    314
    Whilst I see your point, and many will argue that Bitcoins slow pace of development is hindering it, you have to ask what these existing projects are actually achieving right now. They are building for the future and by that point, I think Bitcoin will be the platform of choice, providing of course Bitcoin make a complimentary decision on their future direction. We are looking at advance / future technology here and existing projects may just be trying to run before they can walk; everything has to come together which will take time. I'm not a fan of Ethereum, their gas fees are hindering their project more than Bitcoins limited throughput. Matic will die by the sword based on what Ethereum does. Only time will tell.
     
  2. Domain Forum

    Acorn Domains Elite Member

    Joined:
    1999
    Messages:
    Many
    Likes Received:
    Lots
    articles.co.uk
     
  3. Ben Thomas

    Ben Thomas Well-Known Member

    Joined:
    Mar 2018
    Posts:
    1,937
    Likes Received:
    251
    I think that's the problem with ETH tokens, really. It all slides downhill when Ethereum does. There's not many tokens that can hold their own against Ethereum when it comes to a bearish dive, and no matter how good the platform of said tokens is, you are right insinuating that Ethereum practically controls what happens to every other token on its network.

    You're also right about the gas fees. But this is supposedly resolved when the merge is complete (whenever that may be). To put it in to perspective, I still have a couple of quid floating about in some Ethereum tokens. Only, say, £50. But I went to move that to my cold ledger the other week and the fees were about £120. My eyes popped out when it said the balance to be transferred was minus £70 something haha. Ridiculous.

    Also, unpopular opinion but NFT world is a bubble.

    Also another unpopular opinion. Everything a coin is created, aren't we literally just increasing the amount of money in the system?
     
  4. JMI

    JMI Active Member Acorn Supporter

    Joined:
    Oct 2015
    Posts:
    590
    Likes Received:
    93
    My feeling is that there is a future for blockchain and some coins but the whole thing is now at a critical point, built on a house of cards. Retail continues to fomo and "HODL" into any every new shitcoin pumped on YouTube only to find themselves locked in a digital prison with their lifes worth on a phone, you would think this bubble just has to pop - it's just when and what will be the trigger. As for ETH yes shocking gas fee makes it hard to move crypto and BTC is old and slow but has first move and might survive as a potential digital equivalent of gold (which I am sceptical about) but younger gen seem to buy into that. As for NFT I can see some application but think there will be a bubble and rugpulls like shitcoins along the way.

    I've noticed my bank has stopped all crypto purchases via any other smaller exchange except coinbase, when I quizzed them on the phone I was told it was because crypto was a scam and it was for my own safety.
     
  5. ian

    ian Well-Known Member

    Joined:
    Jan 2008
    Posts:
    4,202
    Likes Received:
    314
    I love it when banks consider crypto a scam. The irony given the current monetary system.

    I can see eventually all USD held in banks will operate on the blockchain, so USDC for example. I can see this happening in all countries. The question will ultimately be on what blockchain. There's no doubt that Bitcoin is the most secure, but of course banks don't like decentralisation of currency.
     
  6. Adam H

    Adam H Well-Known Member Exclusive Member

    Joined:
    May 2014
    Posts:
    1,717
    Likes Received:
    260
    Once ETH fixes gas fee's the dynamics will change for the lesser coins, I do beleive ETH will be the backbone for the majority of the technology based cryto, BTC will remain a store of value and potentially a monitary asset esspecially with the likes of Crypto.com's payment card and other providers doing their own versions in the future.

    That said, I've got a very diverse portfolio with different risk levels, time scale expectations etc. I'm not massively into NFT's , Meta projects I like and have put some investment into a few projects. I'm more interested in IDO's and staking where viable, again will be different once ETH gas fee's are sorted.

    For me, it all depends how this cycle is going to play out. SOL, AVAX, DOT, MATIC, eGLD, ADA, VET, LINK, HBAR, XRP all worth having a bag of in my opionion.
     
    • Like Like x 1
  7. WalkinDude United Kingdom

    WalkinDude Well-Known Member

    Joined:
    Jul 2012
    Posts:
    1,104
    Likes Received:
    93
    Just thinking aloud.

    NFT makes sense. There's an obvious need to make digital art, unique digital artefacts tradable. I get that.

    Crypto is an effort to defeat the Worlds Governments and Central Banks. If it isn't taxable then what is it worth? Given Taxes are used to create value or at least the basis for it. For Crypto to have have global utility it would have to have all the benefits the current system has but just be faster and cheaper to run. Open, taxable, trackable, trusted investigatable, ubiquitous.

    Virtual Meta worlds are an attempt to take on BIG tech which is proven possible because the current batch of BIG Tech took on and won against their predecessors. The difference now is this batch of BIG Tech have trillions of dollars to wipe out any competition that comes their way or buy it up. Any meta world which expects to have value would need billions of people to participate, spend money and time on it, and guess my question would be in return for what? The meta world exists, it's something anyone should be able to launch on at any time for any reason which is how the internet works. Fair enough Internet isn't 3d yet but that's a technical issue. We are being offered an alternative, something a private group creates and from that point on you are stuck within their 'matrix', their rules, their talents and abilities determine your meta future. Assuming Earth2 isn't just some clever new pyramid scheme, what's the stop FB etc from just simply copying it. The top Tech Giants FB, Microsoft, Twitter et all all had something in common. Immediate viability. Simple, obvious, signup and utility happens straight away. There wasn't join as
    and 'at some point in the future this an that will happen.

    Other feature was the services were all free. Nothing to pay, just put up with the ads. Are we saying a technology exists that has defeated these basic principles, that have remained undefeated for over a 1000 years? Every shop, market, website, market stall, always lets you walk in for free then they try and make you spend some money. Why would a service that says pay to get in the door then keep paying [similar to bars, nightclubs], be seen in any way as an evolution on reality?

    The meta verse or at least this new version of it will be a function of all of us built up over time surely? The idea is too complex for a bunch of people to come along and say we alone have it figured out.
     
  8. Trauiner United Kingdom

    Trauiner Active Member

    Joined:
    Feb 2016
    Posts:
    662
    Likes Received:
    70
    Do NFT's actually make sense? Unique digital artefacts are already tradable. Copy/Paste.

    Bearing in mind that when you buy an NFT, you don't actually own the 'thing' you're buying. You're simply buying a token that's linked to it.

    It's all 'made up' ownership and value. Which I do understand can hold value in itself but I feel it's all built on 'making easy money' at the moment and nothing else.
     
    • Agree Agree x 1
  9. cc976a United Kingdom

    cc976a Well-Known Member

    Joined:
    Jun 2007
    Posts:
    1,915
    Likes Received:
    10
    I think they make sense, and I do think the NFT space is here for the long term. It's like the .com rush of the late 90s. It will change a lot. 99% of NFT launches now will become worthless in 6 months or less granted, you can see it now with up to 30 launches a day trying to sell 10k NFTs at $300+$200 gas fees even before you know what you're getting. It will evolve, change and develop but will be here to stay.

    With the ETH changes planned for 2022 and 2023 it should not only tackle the ridiculously high gas fees but also lower the technical barrier of entry in to the NFT world. Its estimated 500k people own an NFT and are involved in the market space. Its a tiny number but it will grow.

    I'm interested to see what SOL does in this space. It doesn't have the traction right now despite much lower fees.

    ETH is the one that will see largest % growths, particularly with its current traction and position, and plans for the next 18 months. BTC will continue along its path. Interested to see where HNT goes too.
     
  10. dee

    dee Well-Known Member Acorn Supporter

    Joined:
    May 2013
    Posts:
    2,352
    Likes Received:
    348
    I'm still undecided about the current state of NFT world. Unlike the real use blockchain stuff going on there does seem to be a bit of the emperor's new clothes about a lot of it. I had a look at open sea.... the fees alone just to get started are ridonkulous. When you have DJ's stopping sets to show the crowd the 800,000 dollar squiggle he's just bought you know its gone a bit mental.

    Sol seems like its poised to do well. HNT I think is just getting started. Its about to start allowing 5G to use the network as a backhaul, basically allowing anyone to set up a 5G local hotspot. Potentially huge.
     
  11. sigh

    sigh Active Member

    Joined:
    May 2020
    Posts:
    242
    Likes Received:
    53
    Heh think of the hacking you can do with people using your hotspot :p
     
  12. dee

    dee Well-Known Member Acorn Supporter

    Joined:
    May 2013
    Posts:
    2,352
    Likes Received:
    348
    I guess ! It's all enterprise grade stuff. FreedomFi hardware about to kick off in the states.

    https://freedomfi.com/
     
  13. webber

    webber Active Member

    Joined:
    Sep 2019
    Posts:
    528
    Likes Received:
    139
    • Informative Informative x 1
  14. m4c Germany

    m4c Active Member

    Joined:
    Jan 2010
    Posts:
    84
    Likes Received:
    5
    Great thread :)
    - I know I’m late to the party - but aren’t domains the original NFTs?
    And we’ve all seen how the prices have jumped around over the years - and these are assets that also have a real, tangible value too…

    I reckon it’s going to be the same in the current NFT space - it will all be about the name behind it - just like a scrappy pencil sketch can be worth 10k IF it was done my Picasso. :
     
  15. webber

    webber Active Member

    Joined:
    Sep 2019
    Posts:
    528
    Likes Received:
    139
    No. It would be like saying phone numbers are like graffiti