I'm with you on NFT's, I'm struggling to get my head around the huge cost of some cartoon image.neilj007 wrote: ↑Thu Dec 30, 2021 2:50 pm @bazza - some well articulated arguments here. To my mind, I try to treat it like digital gold....but us oldies have great difficulty in understanding the general concepts around it....but I do understand it from the scarcity perspective, the halving, the stock to flow models etc etc; the deFi perspective; I don't really "get" the NFT's mind you, or rather the value attributed to them..
I just can't deal with it's volatility and that's why I've been in and out a few times not having lost anything but nothing life changing either- give me a classic Porsche anyday (Is a classic Porsche a store of value??)
In some ways, crypto is no different to any currency - it's all backed by confidence...if the confidence goes, the value goes...and the powers that be will certainly try and derail crypto by whatever means
I also worry about EFT's that are now cropping up and the leverage on crypto - it makes it all the more "unpure" if that makes sense and open to manipulation
I certainly wouldn't trust britcoin, or whatever crypto any central bank decides to issue...
However, I read briefly that the music industry are exploring NFT's as a means to prevent unauthorized copying of artists material.
The SEC have so far only permitted a futures Bitcoin ETF, but this does not require the actual purchase of Bitcoin.
If a Bitcoin ETF is approved in the future, funds will have to purchase actual Bitcoin to hold.
Regarding your classic Porsche example, if it's rare then it certainly is a store of value (and great enjoyment)