Quote:
Originally Posted by Monkey Throttle
I’ve always found newsgroups like this to be extremely helpful/beneficial. An awesome place to exchange ideas/help/information.
I just wanna give back.
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To speculate, only use money that you don't need. Sound advice of Feb 2002 by Warren Buffett:
"After all, you only find out who is swimming naked when the tide goes out." (
https://www.berkshirehathaway.com/20...001letter.html).
If also NFTs used to get your interest in the past, read for example this (spoiler: NFTs didn't age well):
"Are NFTs really dead and buried? All signs point to ‘yes’" (October 2023):
https://theconversation.com/are-nfts...-to-yes-214145
Excerpt:
"As with Bitcoin and similar speculative tokens, the primary driver for buying NFTs was greed. Seeing the initial price rises, people hoped they too could make huge profits. NFTs are essentially a superficially sophisticated form of gambling. Like Bitcoin, they have no fundamental value.
Generally, one would only profit from buying an NFT by finding a “greater fool” willing to pay even more for it. So there was never a shortage of people – including some quite famous ones – talking them up and hoping to instil a fear of missing out. (...)
For a while there were large increases in the prices of many NFTs. But like all speculative bubbles, it was likely to end in tears. Although it’s almost impossible to predict when a bubble for a speculative asset will burst, we have seen this process play out before.
Centuries ago there were the Dutch tulip, South Sea and Mississippi bubbles. Around 1970, there was a speculative bubble in the shares of nickel miner Poseidon. Then came the Beanie Baby and dotcom booms of the late 1990s – and more recently, meme stocks and Terra-Luna cryptocurrency. (...)
A recent report covering about 73,000 NFTs estimated 70,000 are now valued at zero. This leaves 23 million people holding a worthless “asset”.
One high-profile example is an NFT of the first tweet by then-Twitter CEO Jack Dorsey. Crypto entrepreneur Sina Estavi bought this NFT for US$2.9 million in March 2021. When he tried to sell it a year later the top bid was US$6,800."
February 1637: speculative tulip bulb trade collapsed abruptly in The Netherlands:
