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Thread: Crypto In a Roth - I'm trying it

  1. #16
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Crypto In a Roth - I'm trying it

    The NFT thing is such a scam
    What would you say.....ya do here?

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    Boston Red (10-07-2021)


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  4. #17
    Member Redsfaithful's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by RedTeamGo! View Post
    The NFT thing is such a scam
    Nah, it's really not, most of what's happening right now is a mania but NFTs are going to be a part of everyone lives in the future.
    Turning and turning in the widening gyre
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  5. #18
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by Redsfaithful View Post
    Nah, it's really not, most of what's happening right now is a mania but NFTs are going to be a part of everyone lives in the future.
    https://www.google.com/amp/s/www.pcg...ith-dollar27m/

    'Evolved Apes' NFT creator Evil Ape disappears with $2.7M
    By Andy Chalk

    First Published 1 day ago
    Total scam
    What would you say.....ya do here?

  6. #19
    Member 757690's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by RedTeamGo! View Post
    From what I read in the linked article, it seems like the NFT’s are legit and are still being sold. There does seem to be a scam revolving around them, but the NFT’s themselves were not scams.
    Hoping to change my username to 75769022

  7. #20
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by 757690 View Post
    From what I read in the linked article, it seems like the NFT’s are legit and are still being sold. There does seem to be a scam revolving around them, but the NFT’s themselves were not scams.
    Lol the creator of the NFT scammed these idiots out of $2.7 million, deleted his entire online presence and disappeared with the money.
    What would you say.....ya do here?

  8. #21
    Member 757690's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by RedTeamGo! View Post
    Lol the creator of the NFT scammed these idiots out of $2.7 million, deleted his entire online presence and disappeared with the money.
    Again, he seems to have run a scam. But I don’t believe the scam was the NFT’s. They were legit. He just was con artist who used NFT’s as his vehicle.

    This reflects on the guy, not NFT’s.\

    From the article:

    The thing is that everyone did get what they paid for, an NFT," they said in an email sent to PC Gamer. "At the end of the day any promises of a game or other development fall out of the scope of your purchase."
    Last edited by 757690; 10-07-2021 at 05:32 PM.
    Hoping to change my username to 75769022

  9. #22
    Waitin til next year bucksfan2's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by Redsfaithful View Post
    Nah, it's really not, most of what's happening right now is a mania but NFTs are going to be a part of everyone lives in the future.
    I don't quite get the NFT mania. So I can be the owner of a digital image, what does that actually entail? Can I display that image, someone can right click and copy that image, you don't own anything physical.

  10. #23
    Daffy Duck RedTeamGo!'s Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by bucksfan2 View Post
    I don't quite get the NFT mania. So I can be the owner of a digital image, what does that actually entail? Can I display that image, someone can right click and copy that image, you don't own anything physical.
    Anyone can absolutely copy the image, save it to their phone, etc.

    This is at best a pyramid scheme
    What would you say.....ya do here?

  11. #24
    Member 757690's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by bucksfan2 View Post
    I don't quite get the NFT mania. So I can be the owner of a digital image, what does that actually entail? Can I display that image, someone can right click and copy that image, you don't own anything physical.
    It’s no different than owning the original print of a photo. Or really, even a painting. What makes the original of a painting worth so much more than a replica that looks exactly like it?

    I honestly don’t understand the art market, but then again, I do dabble in the baseball card market, which makes as much or as little sense.
    Hoping to change my username to 75769022

  12. #25
    Member Redsfaithful's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by RedTeamGo! View Post
    lol yes, that was a scam, they do happen obv, the entire space isn't though
    Turning and turning in the widening gyre
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  13. #26
    Member Redsfaithful's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by bucksfan2 View Post
    I don't quite get the NFT mania. So I can be the owner of a digital image, what does that actually entail? Can I display that image, someone can right click and copy that image, you don't own anything physical.
    People obsess over this, but it's the decentralized proof of ownership that's more important to wrap your head around. I think some of the issue is that people only hear about the large art sales, etc. which isn't actually most of the space, and ignores the point of art anyway, which is owning the thing. People have always been able to make prints of existing art to hang in their home if they feel like it, that doesn't change the fact that people do actually desire to own the real thing.

    But art is only a part of it all anyway.
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  14. #27
    Member BernieCarbo's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by Redsfaithful View Post
    But art is only a part of it all anyway.
    Yeah, isn't the whole point of this is that the token can represent anything? It could be something physical like a house, or even an idea.

  15. #28
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by BernieCarbo View Post
    Yeah, isn't the whole point of this is that the token can represent anything? It could be something physical like a house, or even an idea.
    Yep. I'm getting to be too cynical, but there's a small opportunity here for a really revolutionary paradigm shift where ownership in society is more widely distributed and power is taken from the really entrenched wealthy and institutions. I don't think it'll happen (the cynicism) but the chance is there.
    Turning and turning in the widening gyre
    The falcon cannot hear the falconer;

  16. #29
    Member JaxRed's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by bucksfan2 View Post

    I am probably 1000% wrong on this one, but the shoot for the moon time frame has probably passed, it will be volatile, and probably won't outperform the S&P over a given period.
    It could change tomorrow. But when I started this thread less than a month ago I had $11K of Crypto. Now it's $14K. (Haven't bought more, just moved it around). I think there's a chance it could still go big over next 10 years, and that's why I went in.
    Bud Selig: "I'm the worst commissioner ever"
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  17. #30
    Waitin til next year bucksfan2's Avatar
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    Re: Crypto In a Roth - I'm trying it

    Quote Originally Posted by JaxRed View Post
    It could change tomorrow. But when I started this thread less than a month ago I had $11K of Crypto. Now it's $14K. (Haven't bought more, just moved it around). I think there's a chance it could still go big over next 10 years, and that's why I went in.
    I am about to cash my measly stake of bitcoin in to buy some gold clubs!

    FWIW, I think over the next decade I think the S&P has a better chance of doubling than Bitcoin does. (famous last words!)

    When I look at Bitcoin, for it to go big, lets assume double, you are looking at it going over 120,000/coin. That is hard for me to fathom, at the same time, I am a big Apple fan, and for that stock to double you are looking at a market cap just shy of 5 trillion.

    I will admit I am a bit of a crypto skeptic, its just something I can't wrap my head around.


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