Cryptocurrencies, and the next big thing

[moXJO]

I was too scared to jump on doge at .09.
.22 later

Everything is pumping.

 

[oilleak]

Crypto being accepted by mainstream ......USA stock exchange listing......Ripple looks like having a win ....Paypal and others expanding crypto accepted payments.........etc etc...

I think this could be 1/4 way through a stella run..........

 

[basilio]

Here is the ultimate "Old Tech/New Tech/Blue Sky" opportunity.

You can become a horse breeder, trainer and successful racer with your own digital race horse and buy and sell the fruits of your unique non-fungible horse tokens - and make out like bandits.

It seems exactly what was happening in Holland 400 years.. (This is not The Shovel)

A digital race horse just changed hands for $125,000 as crypto-mania and the boom in NFTs show no signs of slowing down​

Sophie Kiderlin
Apr. 22, 2021, 02:18 PM

• Digital race horses are being raced, traded and bred in a new crypto trend.
• The crypto horses are being traded for up to $125,000 and are based on NFT technology.
• Despite concerns of crypto assets being in a bubble, digital horses are becoming increasingly popular.
• Sign up here for our daily newsletter, 10 Things Before the Opening Bell.

A digital racehorse based on blockchain technology sold for $125,000 recently, as crypto-mania sweeps the markets.

In online game 'Zed Run', digital race horses can be raced, traded and bred. Different breeds and bloodlines make the horses unique, as well as their racing history. Players buy and own the horses in the same way non-fungible tokens - or NFTs - are bought and owned. It is inscribed into the blockchain code the horses are based on.

Zed Runs runs on the Ethereum blockchain. When it first launched in 2019, horses sold for around $30 - but prices have accelerated up to a peak of $125,000 and regularly exceed $15,000. Almost 11,000 horses have been sold since then and an additional 8,000 have been bred within the game. Different stables mix bloodlines and breeds with the aim of producing successful racers.

A digital race horse just changed hands for $125,000 as crypto-mania and the boom in NFTs show no signs of slowing down

Crypto horse racing platform Zed Run is the newest trend based on NFT blockchain technology. Digital horses can be bred, raced and traded in the game.

markets.businessinsider.com

 

[moXJO]

Time to make your own nfts on iPhone.

I think the aps called S!ng
No gas fees
https://savetosing.com/stories/

 

[ducati916]

A risk?



jog on
duc

 

[moXJO]

So just one of the horses I bought a couple of months back went from $19k to $64k(offered).
I also got that one in particular to spit out 4 foals that are worth $2-3k a pop.

I tried to focus in on decent odds horses. But the market has just run away at the moment. It's gone beyond what I was willing to pay. So now on a breeding schedule to get monthly income with the stable.

I was alerted to something newish so might pile into that.

 

[Roller_1]

So just one of the horses I bought a couple of months back went from $19k to $64k(offered).
I also got that one in particular to spit out 4 foals that are worth $2-3k a pop.

I tried to focus in on decent odds horses. But the market has just run away at the moment. It's gone beyond what I was willing to pay. So now on a breeding schedule to get monthly income with the stable.

I was alerted to something newish so might pile into that.

What is this you're talking about lol, NFTs?

 

[qldfrog]

What is this you're talking about lol, NFTs?

I know it is crazy but yes....
When money is Monopoly game value for our government, you will soon get paid fiat dollars for virtual work in SimCity...

 

[moXJO]

What is this you're talking about lol, NFTs?

Nft horse racing. Sorry forgot to put that bit in.

 

[moXJO]

I know it is crazy but yes....
When money is Monopoly game value for our government, you will soon get paid fiat dollars for virtual work in SimCity...

It's insanity:




Matty is an awesome investor in the space though.

 

[Roller_1]

It's insanity:




Matty is an awesome investor in the space though.

wtf, it's getting crazy(ier).

where can i read about the horse racing?

 

[moXJO]

Bas posted an article above. I was a little peeved. He did it before the drop and I wanted all the horses to myself at the time. And it was indeed insane that drop. I was lucky to nab any.

 

[moXJO]

For those interested in what is the new internet or nfts:

Setup a metamask account. Basically your online wallet and credentials.

Matic wallet is good to convert eth to weth

Openseais site is where the nfts are sold.

 

[moXJO]

Sol network is blowing up big right now.
Trading is insane.

I'm using phantom and trading on

Dexlab

Dexlab is a decentralized exchange where the best Solana projects mint and list their tokens.

trade.dexlab.space

Sol ecosystem is a $millionaire factory at the moment.

 

[noirua]

Russian Finance Ministry submits crypto regulatory framework for review

Regulating crypto instead of a complete ban may bring benefits for the government such as an increase in revenue through tax.

cointelegraph.com

 

[qldfrog]

Russian Finance Ministry submits crypto regulatory framework for review

Regulating crypto instead of a complete ban may bring benefits for the government such as an increase in revenue through tax.

cointelegraph.com

Why do i find these days that Russian gov makes more sense than the West?
Am i just not Resetted enough for the West?

 

[noirua]

Hyperledger Budapest hosts: Blockchain and Quantum Resistance
May 18, 2023

A virtual meetup hosted by Hyperledger Budapest on May 18, 2023, featuring a discussion with Andras Szabolcsi and Daniel Szego. In this meetup they cover these topics:

* A non-mathematical introduction to recent directions of post-quantum cryptography

* A high level technology-management framework for analyzing quantum threats of a Blockchain protocol.

 

[noirua]

Cristiano Ronaldo unveils NFT series with Binance capturing career highlights

Cristiano Ronaldo teams up with Binance to launch a commemorative NFT collection celebrating his football journey from Madeira to Saudi Arabia, offering fans exclusive digital artworks and real-world rewards.

cointelegraph.com

 

[mullokintyre]

Cristiano Ronaldo unveils NFT series with Binance capturing career highlights

Cristiano Ronaldo teams up with Binance to launch a commemorative NFT collection celebrating his football journey from Madeira to Saudi Arabia, offering fans exclusive digital artworks and real-world rewards.

cointelegraph.com

Who remembers NFT"s?
They were going to be the next big thing, but died quicker than a mozzie at a BBQ.
But absolutely zilch is heard from them now.
It was a another brilliant use of Block Chain Technology that allowed a few scammers to get rich, not its gone.
From Forbes magazine

Imagine a world where a picture of a digital monkey could be worth more than your car or even your house. That’s the reality of Non-Fungible Tokens (NFTs) – a digital phenomenon that exploded 2021, made a few people very wealthy, and experienced a dramatic downturn.

The rise of NFTs captured widespread attention, drawing in artists, investors, and the curious. These blockchain-backed digital assets quickly went from hot topics to subjects of wary speculation. The story of NFTs is complex, marked by rapid growth, significant shifts in value, and a fair share of surprises. It’s a narrative that reflects both the potential and pitfalls of digital innovation and investment.
With the creation of cryptocurrencies and blockchain technology, NFTs emerged as a potentially revolutionary concept, transforming how we perceive digital ownership. At their core, NFTs are unique digital tokens, typically bought with cryptocurrency, representing ownership of a specific item or piece of content, such as digital art, music, or videos.

Unlike traditional digital files, which can be endlessly copied and shared, NFTs are distinguished by their uniqueness and scarcity, encoded and verified on a blockchain. The value of NFTs goes beyond the digital item itself; it’s about the verifiable ownership of the piece. This concept can be likened to physical art: while many can replicate or photograph the Mona Lisa, only the original holds true value.

This verification on the blockchain is a game-changer. It acts as a public ledger, recording every transaction and transfer of ownership of an NFT. This transparency and immutability assure the authenticity of the NFT, akin to a certified history of an artwork. This feature is crucial in distinguishing the original NFTs from copies, ensuring the value of the original remains intact and easily identifiable.

The rise of NFTs really kicked off during the Covid-19 pandemic, when digital culture took centre stage. Key to the NFT boom was the idea that digital ownership could carry as much prestige and value as physical ownership. High-profile sales of digital artworks and collectibles garnered media attention and public interest. People weren’t just buying a digital file; they were buying a piece of digital history, a status symbol, and, in some cases, a speculative asset.

NFTs also opened new avenues for artists and creators who previously struggled to monetise their work. They now had a platform to sell unique pieces, gaining new revenue streams and recognition. Additionally, some NFT collections offered unique perks to their holders, such as exclusive merchandise, event access, or concert tickets, adding to their allure.

The NFT market experienced exponential growth, with sales reaching billions of dollars. This surge was not just limited to art. It expanded into various sectors, including music, gaming, and even real estate in virtual worlds.
The story of NFTs took a dramatic turn, embodying the classic narrative of a meteoric rise followed by an equally swift fall. After the frenzy of the pandemic era, the NFT market began to show signs of strain, leading to a significant downturn.
This decline was multifaceted, stemming from a combination of factors. Initially, the allure of NFTs was partly driven by their novelty and the speculative hype surrounding them. Early adopters and investors were drawn to the possibility of quick returns, with some digital artworks and collectibles selling for millions. However, the initial excitement waned as the market was saturated with an overwhelming number of NFTs and the old fashioned economic principle of supply and demand came into play. The realisation that not all NFTs would retain their value or promise significant returns started to set in, leading to decreased buyer interest and market prices.
Another significant contributor to the fall was the broader economic environment. The NFT boom coincided with economic uncertainty, with the impacts of the Covid-19 pandemic resulting in higher inflation, interest rates and tighter monetary policy. As the world stabilised and markets returned to normalcy, the appetite for high-risk investments like NFTs began to diminish. This shift was compounded by the overall decline in the cryptocurrency market, closely tied to the NFT ecosystem. As the value of major cryptocurrencies fell, so did the purchasing power and enthusiasm of many NFT investors.

What Went Wrong?​

The steep decline of the NFT market can be attributed to several critical factors that, combined, led to what many describe as a bubble bursting. This downturn in the NFT space was not an isolated event but part of broader turmoil in the digital asset market, significantly influenced by significant catastrophes in the cryptocurrency industry and changing global economic conditions.
One of the critical events that sent shockwaves through the digital asset market was the collapse of Terra Luna, a prominent cryptocurrency project. Its failure eroded billions in market value almost overnight, contributing to a loss of investor confidence not just in cryptocurrencies but in associated markets like NFTs. This incident underscored the inherent risks and volatility in these emerging digital asset classes.
The FTX catastrophe further amplified this effect. As a key player in the crypto exchange domain, FTX’s bankruptcy had a domino effect, causing widespread panic and a sharp decline in crypto values. This plunge in the cryptocurrency market had a direct impact on these tokens. Since most NFT trading activity used cryptocurrencies, the devaluation of these digital currencies meant that investors had less capital to invest in NFTs. The resulting liquidity crunch was a significant blow to the NFT market, which heavily relies on the health and stability of the broader crypto ecosystem.
Beyond the crypto-specific factors, the NFT market’s downturn was also deeply intertwined with broader economic conditions. The world witnessed a tightening economic scenario, with rising inflation and cost of living affecting disposable incomes globally. As economies struggled to recover from the impacts of the pandemic, individuals and investors became more cautious with their spending, especially in speculative and non-essential assets like cryptocurrencies and NFTs.
This shift in economic priorities was particularly pronounced given the speculative nature of NFTs. During economic prosperity or stability, speculative investments like NFTs can attract significant interest and investment. However, in times of financial uncertainty, such as rising living costs and inflation, the risk appetite tightens. Investors and consumers tend to prioritise stability and security in their investments, avoiding volatile markets.
Combining specific disasters within the crypto world, like the Terra Luna and FTX collapses, coupled with a more challenging global economic landscape, created a perfect storm for the NFT market. The bubble that had rapidly inflated around these digital assets burst, significantly reevaluating their value and potential. This series of events is a stark reminder of the volatility and risk inherent in emerging digital asset markets.

Mick