Discussion
As I'm getting somewhat weary of the stock market kicking me in the balls I thought I'd look at putting this month's punt money into NFTs.
They could be a flash in the pan or maybe there's some long term value to be had but as it's only a few hundred quid I'm quite relaxed about seeing what happens.
Anyone else here trading in them/know a reputable site on which to open an account? Any tips?
Cheers.
They could be a flash in the pan or maybe there's some long term value to be had but as it's only a few hundred quid I'm quite relaxed about seeing what happens.
Anyone else here trading in them/know a reputable site on which to open an account? Any tips?
Cheers.
I'm not sure the words reputable & NFT's really go together.
But i'll be interested to see what other peoples opinions are.
Personally I still haven't got my head round Crypto currencies yet though I can see the use for Blockchain technology.
As for NFT's, admittedly I've only got a vague grasp of what they are, but what I have heard about them, makes me want to run quickly away !! :-)
But i'll be interested to see what other peoples opinions are.
Personally I still haven't got my head round Crypto currencies yet though I can see the use for Blockchain technology.
As for NFT's, admittedly I've only got a vague grasp of what they are, but what I have heard about them, makes me want to run quickly away !! :-)
I echo the sentiment re wanting to run away but I thought that about Bitcoin when the work bore starting prattling on about it about five years ago and I wish I'd listened to him now.
I figure that I can afford to punt a monkey at it and if I lose it all it's not going to bankrupt me!
I figure that I can afford to punt a monkey at it and if I lose it all it's not going to bankrupt me!
NFTs will be quite interesting in due course. Lots of work going on to enable genuine investments to be issued via regulated tokens.
For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
DonkeyApple said:
NFTs will be quite interesting in due course. Lots of work going on to enable genuine investments to be issued via regulated tokens.
For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
Do you have any particular platforms in mind for the "legit" tokenisation space?For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
DonkeyApple said:
NFTs will be quite interesting in due course. Lots of work going on to enable genuine investments to be issued via regulated tokens.
For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
We're looking at a project to issue NFT's for clients when they pass KYC, the issue is - no internationally recognised standard as yet. Lots of players, but its a bit Betamax/CD/Mini-Disc/DVD/Vinyl at the moment.For example, why pay to list on AIM to access a small audience when you can list tokens and access a far larger and wider audience.
The problem will be that just like SPACs most will be junk that's just pumped up with dumb phones yet money to make an initial series of backers a big turn.
juice said:
We're looking at a project to issue NFT's for clients when they pass KYC, the issue is - no internationally recognised standard as yet. Lots of players, but its a bit Betamax/CD/Mini-Disc/DVD/Vinyl at the moment.
As in to allow other institutions to use that KYC? Or for you to know that KYC has actually been undertaken?juice said:
We're looking at a project to issue NFT's for clients when they pass KYC, the issue is - no internationally recognised standard as yet. Lots of players, but its a bit Betamax/CD/Mini-Disc/DVD/Vinyl at the moment.
It's all a bit strange at the moment as you're building a new series of exchanges that to be regulated must meet KYC/ML etc of their jurisdiction plus, the participants must do the same yet it's using a backbone constructed on the facile Digital Freeman of the Land drivel of the self disenfranchised. It's going to be interesting how the various exchanges fair. In the U.K. we're already getting the professional penny share spankers starting to try and get in as the promise of dirt cheap issues, looser regulation and access to a global mug list is just immensely tempting.
My gut feeling is that exchanges in Dubai will do better due to regulation being more about just paying lip service.
But if you can wade through all the corrupt more that is likely to flood this area the ability to peg a physical, tangible and priceable asset to a digital asset is what all this cryptojunk has been leading to and its hugely interesting.
DonkeyApple said:
It's all a bit strange at the moment as you're building a new series of exchanges that to be regulated must meet KYC/ML etc of their jurisdiction plus, the participants must do the same yet it's using a backbone constructed on the facile Digital Freeman of the Land drivel of the self disenfranchised.
It's going to be interesting how the various exchanges fair. In the U.K. we're already getting the professional penny share spankers starting to try and get in as the promise of dirt cheap issues, looser regulation and access to a global mug list is just immensely tempting.
My gut feeling is that exchanges in Dubai will do better due to regulation being more about just paying lip service.
But if you can wade through all the corrupt more that is likely to flood this area the ability to peg a physical, tangible and priceable asset to a digital asset is what all this cryptojunk has been leading to and its hugely interesting.
Another very interesting area is using Blockchain for Trade Settlement (versus the current DvP system) but I suspect CDS for example would have a lot to say about that !It's going to be interesting how the various exchanges fair. In the U.K. we're already getting the professional penny share spankers starting to try and get in as the promise of dirt cheap issues, looser regulation and access to a global mug list is just immensely tempting.
My gut feeling is that exchanges in Dubai will do better due to regulation being more about just paying lip service.
But if you can wade through all the corrupt more that is likely to flood this area the ability to peg a physical, tangible and priceable asset to a digital asset is what all this cryptojunk has been leading to and its hugely interesting.
juice said:
LooneyTunes said:
As in to allow other institutions to use that KYC? Or for you to know that KYC has actually been undertaken?
Both. juice said:
DonkeyApple said:
It's all a bit strange at the moment as you're building a new series of exchanges that to be regulated must meet KYC/ML etc of their jurisdiction plus, the participants must do the same yet it's using a backbone constructed on the facile Digital Freeman of the Land drivel of the self disenfranchised.
It's going to be interesting how the various exchanges fair. In the U.K. we're already getting the professional penny share spankers starting to try and get in as the promise of dirt cheap issues, looser regulation and access to a global mug list is just immensely tempting.
My gut feeling is that exchanges in Dubai will do better due to regulation being more about just paying lip service.
But if you can wade through all the corrupt more that is likely to flood this area the ability to peg a physical, tangible and priceable asset to a digital asset is what all this cryptojunk has been leading to and its hugely interesting.
Another very interesting area is using Blockchain for Trade Settlement (versus the current DvP system) but I suspect CDS for example would have a lot to say about that !It's going to be interesting how the various exchanges fair. In the U.K. we're already getting the professional penny share spankers starting to try and get in as the promise of dirt cheap issues, looser regulation and access to a global mug list is just immensely tempting.
My gut feeling is that exchanges in Dubai will do better due to regulation being more about just paying lip service.
But if you can wade through all the corrupt more that is likely to flood this area the ability to peg a physical, tangible and priceable asset to a digital asset is what all this cryptojunk has been leading to and its hugely interesting.
There are people working in this area but all of the ones I’ve spoken to so far are missing parts of the puzzle. Would have considered investing in one a couple of years ago but they were so focussed on the tech that they just didn’t seem to want to address the commercial/market realities of what they needed to do to make it a success.
I’ve come to the conclusion that if/when it happens it’ll be done by one of a handful of existing players making a strategic decision to hire people to develop it and address the significant changes to existing business models that it would introduce.
Note: I am yet to buy I am still in research mode.
I find them super interesting and it feels like the same hype around crypto back in 2012/13. Just bought and sold by internet wierdos and conspiracy guys who think it will bring down the NWO and world banking control.
But.. the key difference is the ability to hype on social media. Rather than buried in the depths of the dark web or some back alley reddit forum.. they are being hyped on IG and bought / sold by GenZ celebrities.
I think this is classic 'punt' territory right now.. a gamble.. so be prepared to lose it.
However the minting element and scarcity of the NFTs along with the hypebeast culture / mentality.. I think there are opportunities out there for people smart enough to pre-empt the hype, get in and out quickly and play the game.
Have fun.. while you're doing it and don't take it to seriously.
I find them super interesting and it feels like the same hype around crypto back in 2012/13. Just bought and sold by internet wierdos and conspiracy guys who think it will bring down the NWO and world banking control.
But.. the key difference is the ability to hype on social media. Rather than buried in the depths of the dark web or some back alley reddit forum.. they are being hyped on IG and bought / sold by GenZ celebrities.
I think this is classic 'punt' territory right now.. a gamble.. so be prepared to lose it.
However the minting element and scarcity of the NFTs along with the hypebeast culture / mentality.. I think there are opportunities out there for people smart enough to pre-empt the hype, get in and out quickly and play the game.
Have fun.. while you're doing it and don't take it to seriously.
It does depend what the NFT is pegged to. For example, if you peg it to an equity issue then you can replicate an IPO perfectly in a purely digital environment. Issue more stock at later dates, pay staff, customers, suppliers in stock etc etc.
It's a means to take something like a SPAC and free it from physical exchange constraints while reaching a far wider global audience. With the real upside for small Cap sharks being that this audience will be much more easily duped into buying worthless junk as seen this morning as the news finally picks up on the bending over of football fans buying worthless crypto with valuable real money.
It's a means to take something like a SPAC and free it from physical exchange constraints while reaching a far wider global audience. With the real upside for small Cap sharks being that this audience will be much more easily duped into buying worthless junk as seen this morning as the news finally picks up on the bending over of football fans buying worthless crypto with valuable real money.
InformationSuperHighway said:
Note: I am yet to buy I am still in research mode.
I find them super interesting and it feels like the same hype around crypto back in 2012/13. Just bought and sold by internet wierdos and conspiracy guys who think it will bring down the NWO and world banking control.
But.. the key difference is the ability to hype on social media. Rather than buried in the depths of the dark web or some back alley reddit forum.. they are being hyped on IG and bought / sold by GenZ celebrities.
I think this is classic 'punt' territory right now.. a gamble.. so be prepared to lose it.
However the minting element and scarcity of the NFTs along with the hypebeast culture / mentality.. I think there are opportunities out there for people smart enough to pre-empt the hype, get in and out quickly and play the game.
Have fun.. while you're doing it and don't take it to seriously.
My thoughts exactly. If I lose a few quid so be it. I don't mind a gamble with affordable risk.I find them super interesting and it feels like the same hype around crypto back in 2012/13. Just bought and sold by internet wierdos and conspiracy guys who think it will bring down the NWO and world banking control.
But.. the key difference is the ability to hype on social media. Rather than buried in the depths of the dark web or some back alley reddit forum.. they are being hyped on IG and bought / sold by GenZ celebrities.
I think this is classic 'punt' territory right now.. a gamble.. so be prepared to lose it.
However the minting element and scarcity of the NFTs along with the hypebeast culture / mentality.. I think there are opportunities out there for people smart enough to pre-empt the hype, get in and out quickly and play the game.
Have fun.. while you're doing it and don't take it to seriously.
This is something I have thought about but not managed to pull the trigger yet. If you look at the prices of "popular" NFTs - you will see a huge spike, but this does not apply to every collection. For me I determined theres too much risk in: 1) selecting the "right" NFT, 2) choosing something where the price will remain stable long term. For as many successful NFT projects you will find just as many, if not more which do not offer a return.
If you're not having much luck with the stock market (i presume you are investing in individual stocks) - drip feed your money into a portfolio of mutual funds. If this is contained within an ISA youll pay not CGT on your gains.
If you're not having much luck with the stock market (i presume you are investing in individual stocks) - drip feed your money into a portfolio of mutual funds. If this is contained within an ISA youll pay not CGT on your gains.
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