gingerjon Posted January 16 Share Posted January 16 55 minutes ago, Just Browny said: Very telling lack of self awareness on this thread. I actually agree on NFTs/crypto: they are a pyramid scheme but I think most people have cottoned onto that in the last six months or so. Basically, if you're not using the trading of NFTs to launder money then I'm going to doubt your sanity and also sell you this lovely bridge. 1 Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett) Link to comment Share on other sites More sharing options...
SalfordSlim Posted January 16 Share Posted January 16 5 hours ago, GUBRATS said: Nothing wrong with Love Island We'll agree to disagree on that one! Link to comment Share on other sites More sharing options...
LeytherRob Posted January 16 Share Posted January 16 18 minutes ago, gingerjon said: Basically, if you're not using the trading of NFTs to launder money then I'm going to doubt your sanity and also sell you a limited edition JPEG file of this lovely bridge. Corrected for accuracy 3 Link to comment Share on other sites More sharing options...
Wiltshire Warrior Dragon Posted January 16 Share Posted January 16 (edited) As I noted elsewhere on these fora recently, I am 72 years old. Any chance of a glossary to go with this thread? Edited January 16 by Wiltshire Warrior Dragon words omitted 1 Link to comment Share on other sites More sharing options...
Tommygilf Posted January 16 Share Posted January 16 12 minutes ago, Wiltshire Warrior Dragon said: As I noted elsewhere on these fora recently, I am 72 years old. Any chance of a glossary to go with this thread? I'll try my best! NFT = Non Fungible Token. Basically an item, usually an image or a graphic, that you own a sort of copyright for. Crypto Currency = Digital only currency that can be bought and sold through online marketplaces much like foreign exchange markets work. Anything else? 1 Link to comment Share on other sites More sharing options...
Dunbar Posted January 16 Share Posted January 16 On 15/01/2023 at 15:17, SalfordSlim said: Anyone care/want to explain to me WTF the deal is with Crypto & NFT's? I genuinely have no idea how you can attribute any value to these things I am not sure about the others but Bitcoin, by design, is a finite resource. There can only ever be 21 million Bitcoin with around 18.9 million currently mined. It gets intrinsically harder to mine as more Bitcoins are in circulation. This means more and more processing power is needed. Anyway, that's a discussion for another day. It's finite number is a reason for the value - like gold, as there is not a never ending supply it holds value due to scarcity. But surely this is one of its drawbacks as a currency. Like gold, people will hold them to realise a growth in value over time rather than use them as currency. "The history of the world is the history of the triumph of the heartless over the mindless." — Sir Humphrey Appleby. "If someone doesn't value evidence, what evidence are you going to provide to prove that they should value it? If someone doesn't value logic, what logical argument could you provide to show the importance of logic?" — Sam Harris Link to comment Share on other sites More sharing options...
Wiltshire Warrior Dragon Posted January 16 Share Posted January 16 1 hour ago, Tommygilf said: I'll try my best! NFT = Non Fungible Token. Basically an item, usually an image or a graphic, that you own a sort of copyright for. Crypto Currency = Digital only currency that can be bought and sold through online marketplaces much like foreign exchange markets work. Anything else? Thanks for that, TG. I struggle a little bit with the concept of 'sort of copyright'; to me, copyright seems a very black and white notion, with no room for 'sort of's - you either have the copyright for something or you don't (albeit I realise that there can be disputes at times) Your crypto currency definition is also helpful, but what can it be used for in contexts other than buying and selling the currency itself? As for anything else, what are JPEGS, please? Link to comment Share on other sites More sharing options...
Tommygilf Posted January 16 Share Posted January 16 Just now, Wiltshire Warrior Dragon said: Thanks for that, TG. I struggle a little bit with the concept of 'sort of copyright'; to me, copyright seems a very black and white notion, with no room for 'sort of's - you either have the copyright for something or you don't (albeit I realise that there can be disputes at times) Your crypto currency definition is also helpful, but what can it be used for in contexts other than buying and selling the currency itself? As for anything else, what are JPEGS, please? I suppose with the NFTs the issue is that like any image on the internet, a screenshot can negate it. For Cryptos, some places are starting to accept it as legal tender. More broadly now I suppose its like buying a niche foreign currency that you never intend to actually use. With my legal hat on, its a bit of a nightmare from a criminal perspective. Money laundering and hidden accounts are common. Basically any dark web purchases almost exclusively use Crypto now. A JPEG is just an image file type. 1 Link to comment Share on other sites More sharing options...
gingerjon Posted January 16 Share Posted January 16 4 minutes ago, Wiltshire Warrior Dragon said: Thanks for that, TG. I struggle a little bit with the concept of 'sort of copyright'; to me, copyright seems a very black and white notion, with no room for 'sort of's - you either have the copyright for something or you don't (albeit I realise that there can be disputes at times) Your crypto currency definition is also helpful, but what can it be used for in contexts other than buying and selling the currency itself? As for anything else, what are JPEGS, please? A jpg/jpeg is a graphics file online. A lot of the photos you see on websites will be jpg/jpeg files. The whole point about NFTs is that they are, fundamentally, a scam. The nearest 'real world' thing I can think of is if you've ever seen those 'name a star' adverts. The thing is, you're not *really* naming a star but someone, somewhere is keeping a record that says that this star has this name. The NFT 'ownership' is similarly not really real but there's a directory somewhere (or should be) that says you 'own' this image or this file kept at this link. Some businesses accept some crypto currencies. Not many and not always above board. 1 1 Build a man a fire, and he'll be warm for a day. Set a man on fire, and he'll be warm for the rest of his life. (Terry Pratchett) Link to comment Share on other sites More sharing options...
SalfordSlim Posted January 16 Share Posted January 16 (edited) Is the Jaguar on the Leigh badge a Jpeg? Edited January 16 by SalfordSlim Link to comment Share on other sites More sharing options...
Les Tonks Sidestep Posted January 16 Share Posted January 16 5 minutes ago, SalfordSlim said: Is the Jaguar on the Leigh badge a Jpeg? Did you mean to spell monstrosity wrong? Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 10 hours ago, Tommygilf said: Cryptocurrencies have at least an understandable enough logic behind them for me. NFTs are really a bit stupid, a scam even. Thankfully RL hasn't gone down the socios fan token route either. " Monorail , Monorail , MONORAIL " Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 (edited) 4 hours ago, SalfordSlim said: We'll agree to disagree on that one! I only watch it , with the mute button on i don't listen to them , pity I can't get it in slow motion ? Edited January 16 by GUBRATS Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 4 hours ago, Wiltshire Warrior Dragon said: As I noted elsewhere on these fora recently, I am 72 years old. Any chance of a glossary to go with this thread? It's all BLX 1 Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 48 minutes ago, Dunbar said: I am not sure about the others but Bitcoin, by design, is a finite resource. There can only ever be 21 million Bitcoin with around 18.9 million currently mined. It gets intrinsically harder to mine as more Bitcoins are in circulation. This means more and more processing power is needed. Anyway, that's a discussion for another day. It's finite number is a reason for the value - like gold, as there is not a never ending supply it holds value due to scarcity. But surely this is one of its drawbacks as a currency. Like gold, people will hold them to realise a growth in value over time rather than use them as currency. Can you use them in Wetherspoons? Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 44 minutes ago, Wiltshire Warrior Dragon said: Thanks for that, TG. I struggle a little bit with the concept of 'sort of copyright'; to me, copyright seems a very black and white notion, with no room for 'sort of's - you either have the copyright for something or you don't (albeit I realise that there can be disputes at times) Your crypto currency definition is also helpful, but what can it be used for in contexts other than buying and selling the currency itself? As for anything else, what are JPEGS, please? It's all BLX 1 Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 40 minutes ago, Tommygilf said: I suppose with the NFTs the issue is that like any image on the internet, a screenshot can negate it. For Cryptos, some places are starting to accept it as legal tender. More broadly now I suppose its like buying a niche foreign currency that you never intend to actually use. With my legal hat on, its a bit of a nightmare from a criminal perspective. Money laundering and hidden accounts are common. Basically any dark web purchases almost exclusively use Crypto now. A JPEG is just an image file type. Who do you buy it off ? Link to comment Share on other sites More sharing options...
Tommygilf Posted January 16 Share Posted January 16 4 minutes ago, GUBRATS said: Who do you buy it off ? Going to have to be more specific than that mate? NFTs, Crypto, Dark web items? Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 4 minutes ago, Tommygilf said: Going to have to be more specific than that mate? NFTs, Crypto, Dark web items? Bitcoin Link to comment Share on other sites More sharing options...
Tommygilf Posted January 16 Share Posted January 16 2 minutes ago, GUBRATS said: Bitcoin There's various platforms and apps out there, personally I use Swissborg as a mate who runs a brokerage company recommended it. Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 Just now, Tommygilf said: There's various platforms and apps out there, personally I use Swissborg as a mate who runs a brokerage company recommended it. Who as in who ? Link to comment Share on other sites More sharing options...
Tommygilf Posted January 16 Share Posted January 16 1 minute ago, GUBRATS said: Who as in who ? Who do you buy stocks and shares, or a car, or a loaf of bread from? Other people willing to sell it. Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 Just now, Tommygilf said: Who do you buy stocks and shares, or a car, or a loaf of bread from? Other people willing to sell it. Well , a loaf of bread is Warburton's who bought the ingredients from a farm , a car from a car manufacturer , stocks and shares are essentially a share of ownership of a company Who makes the bitcoins ? Link to comment Share on other sites More sharing options...
LeytherRob Posted January 16 Share Posted January 16 1 minute ago, GUBRATS said: Bitcoin Bitcoin is one of the few more regulated cryptocurrencies and you can buy it via paypal along with Etherium(which is used to buy and sell most NFTs). The big draw of NFTs for those buying are 2 things On the more extreme value of NFT's it's basically a vanity purchase to show how rich you are, sometimes having one grants access to private members clubs for networking purposes. These tend to be what a lot the A lister types buy. Those looking for a get rich quick scheme. Because NFT's are bought and sold using crypto, they almost amplify the huge market volatility in crypocurrencies (Etherium jumped from $1200 for 1 coin to nearly $3500 at one point and fell back just as hard), meaning some lucky chances could make tens of thousands in no time at all. As i mentioned to in a previous post though it's a game of hot potato and the person left holding at the end frequently ends of gambling hundreds if not thousands of their money to be left with something that nobody wants, thus losing all value. There are a lot of start up cryptocurrencies all springing up now as people try to cash in on the fad and get in early on the next bitcoin, some are geniune but a lot tend to lead to 'pump and dump' schemes, where influencers will promote a new currency they've already invested in, then sell it off once the demand has driven price through the roof....all of which is highly illegal of course, but it's taking regulators time to catch up with a lot of this. 1 Link to comment Share on other sites More sharing options...
GUBRATS Posted January 16 Share Posted January 16 2 minutes ago, LeytherRob said: Bitcoin is one of the few more regulated cryptocurrencies and you can buy it via paypal along with Etherium(which is used to buy and sell most NFTs). The big draw of NFTs for those buying are 2 things On the more extreme value of NFT's it's basically a vanity purchase to show how rich you are, sometimes having one grants access to private members clubs for networking purposes. These tend to be what a lot the A lister types buy. Those looking for a get rich quick scheme. Because NFT's are bought and sold using crypto, they almost amplify the huge market volatility in crypocurrencies (Etherium jumped from $1200 for 1 coin to nearly $3500 at one point and fell back just as hard), meaning some lucky chances could make tens of thousands in no time at all. As i mentioned to in a previous post though it's a game of hot potato and the person left holding at the end frequently ends of gambling hundreds if not thousands of their money to be left with something that nobody wants, thus losing all value. There are a lot of start up cryptocurrencies all springing up now as people try to cash in on the fad and get in early on the next bitcoin, some are geniune but a lot tend to lead to 'pump and dump' schemes, where influencers will promote a new currency they've already invested in, then sell it off once the demand has driven price through the roof....all of which is highly illegal of course, but it's taking regulators time to catch up with a lot of this. So who do you pay the money to ? Who did they buy it off ? Who made it in the first place ? Link to comment Share on other sites More sharing options...
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