If the Odysee version of the video has any play back issues the back up YouTube version is here.
First up today I am going to go over a few bits of BTC news some considered bullish, some bearish and explain why each could have the opposite interpretation. I am going to explain how many crypto gurus seem to always get it right but how such is just trick like a con man might play in a fake psychic reading.
Next I want to cover a bit on what I consider the absolute stupidity of NFTs. I don’t hate NFT as a tech but what is being done with it right now makes crypto kitties look like a solid investment idea for a 40 year buy and hold strategy.
NFTs can lead to replacing entire industries that specialize in things like titles for property, perhaps some forms of contract law. Perhaps even company ownership. NFTs can become a way to secure ownership rights to physical assets. That is now what is going on now, what is going on now is stupid.
Spending 500K on a gif image is the very definition of stupid behaviour. When I can make 9 million copies of said gif or more. Saying but I have the rights to the original of a digital good that can be copied a million times is like saying you have the “rights” to a specific molecule of oxygen.
NFTs will in time revolutionize digital rights, they may end up creating a way for artists from musicians to authors to create royalty streams, etc. They may destroy in time title companies, music companies, publishers, etc. They have tremendous potential but I really think they are going to cause a massive crash in alt coins in the quite near future.
If you pay 10 dollars for the rights to a jpeg you are an idiot, if you pay 100 you are an idiots idiot, if you pay thousands email me, I have some NFTs to sell you, want the rights to TSPC #1? 10K and you can have it. And I would not even do it, I am to moral to take the money of an idiot that easily fooled.
- Flag Featured in this video is here – https://amzn.to/36wGHXK
- Microphone I use – https://amzn.to/3AXdS4C
- SEC Likely to Approve Bitcoin ETFs by November: Bloomberg ETF Experts – https://bit.ly/2UOvhMY
- $740 Million in Bitcoin Transferred to Huobi – https://bit.ly/3yd5wnc
- Bitcoin rejects $51K after Michael Saylor reveals new BTC purchase – https://bit.ly/3DbMBN3
- PayPal launches crypto buying and selling in the UK – https://reut.rs/3gtKqut
- Episode of Pomp’s Podcast I Mentioned – https://apple.co/3zfdjSG
- Another great episode of Pomp’s Podcast on Lightning – https://apple.co/3gryxFm