andydp
Tenured Full Professor
Posts: 3,010
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Post by andydp on Jul 7, 2022 17:55:08 GMT
I still don't understand either Bit coins or NFTs (I'm sure I'm not the only one)
It seems GM and the Corvette Division were intent on selling a Mint/Neon green Corvette NFT. This also came with a real mint green Corvette. If you owned the NFT you would be the only person to own that car for one year, before they released the color for the rest of the mortals
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jackd
Assistant Professor
Posts: 813
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Post by jackd on Jul 7, 2022 19:52:24 GMT
A clue to the viability of Bit coins and their cousins, consider the fact that they are always valued in dollars.
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Post by LFC on Jul 7, 2022 19:56:07 GMT
I still don't understand either Bit coins or NFTs (I'm sure I'm not the only one) It's bragging rights, usually with nothing physically attached.
The only real purpose I've read about for them is to add liquidity to normally illiquid assets. For example you could take a physical asset like artwork or real estate and have it owned by a holding company. That company then issues an NFT that allows you to take outright ownership if you wish. The advantage comes from simplifying the sale transaction. You simply put the NFT for the thing you effectively own and the buyer now has the right to take possession (and your rights to it end just like any sale) but there are no title transfers required.
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Post by indy on Jul 7, 2022 20:31:42 GMT
To quote Charlie Munger: "In my life, I try to avoid things that are stupid, and evil, and make me look bad in comparison to someone else, and bitcoin does all three". You can't 'understand' things like this, but they exist anyway. Take Donald Trump...please.
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