Official Cryptocurrency Thread: Skepticism to Speculation to FIGHT! FIGHT! FIGHT!

Discussion in 'The Mainboard' started by Nantucket, Jan 29, 2017.

  1. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    Depends on what the user is holding the NFT for. A certain percentage of all royalties under this NFT/app go back to the DAO. The project is built around people selling their projects. The DAO is the community/stakeholders who control all changes to the project and contract.
     
  2. construxboy

    construxboy xenForo is the new TMB
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    Two questions:

    1) Are there different "levels" of NFTs? Clearly what you are describing is quite a bit different than a Punk or a NBA Top shot, right? Those two things sound like collectibles to me.

    2) Can you describe the quoted post with a more standard business analogy?
     
  3. Andy Reocho

    Andy Reocho Please don't get lost in the sauce
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    I currently own two racing chicken NFT's. BETA testing starts in just over a month.

    Zed Run is a horse racing NFT.

    https://www.the-mainboard.com/index...ee-our-new-cocks.181593/page-87#post-16997219

    If you have more questions, feel free to post there(NFT thread), so we don't clog up this one
     
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  4. user15000

    user15000 Well-Known Member

  5. user15000

    user15000 Well-Known Member

  6. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    1) There are categories like Collectibles, Utilities, Art, 1/1, Avatars, Metaverse Characters, Play to Earn, etc,. Gamification is a huge utility being missed here. So is computer, machine, or AI generated art. And 99.9% of NFT files are not even .jpeg format.

    2) Do you have employee stock ownership with your company? Do you get to propose changes and vote on the direction of the company with your stock ownership? Or is that big boy stakeholder type stuff for the CEO, COO, and the investors? DAOs are like employee stock ownershp + stakeholdership + decentralization of the company. As soon as my product sells out the 10K tokens that were minted have the ability to burn or stake their NFT, which allows them to access our website, utilize our app/plaftorm, and be part of 50% ownership in the DAO wallet and any changes to the roadmap.

    Or you can simply launch your project in our platform, make your money back in less than 10 sales (out of a max of 20K currently) , and then sell our NFT for more or less than you paid for it.

    Recurring revenue and royalties wasn't mention here and should probably be mentioned. But even on the avatar and collectibles side, the Gutter Cat in my avatar on the left is currently at a floor price of 7 ETH but the HODL shirt and bloodshot eyes have been selling for 10 ETH the last few days. And I paid less than .1 ETH for it.
     
  7. HuskerInMiami

    HuskerInMiami Well-Known Member
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    You can buy additional shirts/eyes for the NFT's? I hadn't heard that.
     
  8. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    No, those are the specific rarity traits of Gutter Cats. The floor price is about 7 ETH for a Gutter Cat, but the tshirt and eye traits on the cat in my avatar is about 10 ETH currently.

    You can't change them, but certain traits are just more sought after or rare. Gold Crowns, for example, are really popular across most of the NFT avatars and would sell higher than the secondary floor.
     
  9. Lip

    Lip Well-Known Member
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    But what if I just really want to buy a jpeg of a rock?
     
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  10. Oranjello

    Oranjello Well-Known Member
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    How is the DAO, in this particular case, setup?
     
  11. construxboy

    construxboy xenForo is the new TMB
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    Thanks for the explanation. So in terms of avatar/collectibles, what makes the recurring revenue and royalties work? Take your Gutter Cat avatar. Someone can just copy and paste that exact avatar, right? They wouldn't be able to say they own it, since you still would be shown as the owner. But where does that matter? Are their sites where they would use it that check those things? Or is it just that they could not then try to re-sell it themselves without the proof of ownership? But is that just a technical designation? If someone owns a Blu Ray of a movie, they could burn me a copy and sell it to me. I know that it's not legal. But if I just use it for my own use, I'm unlikely to get caught.
    I guess I'm wondering where the enforcement authority resides?

    Last point on the Floor price: Isn't that still subject to demand? If everyone in the world, other than you, decided that Gutter Cat was only worth .1 ETH now, how would you prevent that?

    We can move over to the NFT thread if needed.
     
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  12. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    I think the discussion sits well here and in the NFT thread. NFTs are crypto and only benefit this space. Plus, this thread needs actual conversation instead of embedded tweets, incorrect information, and being talked down to.

    Yea, you could easily right click and save the NFT. Please do. Free marketing. I own the intellecutal property rights, and can market this however I wish as long as I'm not using the Gutter Cat logo and brand.

    The floor price is based on active sales. If sales stop and someone list it for a lower amount, the floor drops. The floor price factors the demand + the cheapest current opportunity to buy. How do I prevent the "floor price" or the value of Bitcoin or any crypto or investment from dropping or determining it's value? Supply and demand.

    The recurring revenue and royalties really lies on the artist/creator side. In the covnersation of Gutter Cats, there is a DAO which funds hit that wallet and I have a voice in how those royalties are issued among the community. But really, I'm referring to the recurring revenue and royalties as part of my business model as an additional reason to move my art, app, or utility to a smart contract an on the blockchain.

    People want a clip of Lebron James passing a ball that 10,000 other pepole have, and beanie babies was a thing. People collect shit. Do you and have fun. You'll be spending a lot more money now than if you did this a few months ago!

    There's two separate DAOs/treasuries involved in my project. You can choose to stake or burn your token and proportionally own 50% of either of the two DAOs, or both.

    There will be windows to stake and burn our token. It's honestly very similar to altcoins or staking/farming on Ethereum mainnet. Here's a screenshot of our tokenomics.

    Screen Shot 2021-08-25 at 10.13.54 AM.png
     
  13. user15000

    user15000 Well-Known Member

  14. danny2430

    danny2430 Well-Known Member
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    Does anybody on here have much experience with staking? I’m still on an exchange and wondering if I should make the transfer over to crypto.com for the rates they offer, or just switch to a hardware wallet like ledger that offers some staking but obviously the security
     
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  15. user15000

    user15000 Well-Known Member

  16. HuskerInMiami

    HuskerInMiami Well-Known Member
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    I moved my BTC/ETH/LTC over to Celsius and have gotten decent returns so far. Havn't had any trouble as of yet.
    It's nice to get an email every Monday morning sharing how much interest I got instead of my money sitting in the bank getting 0.
     
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  17. Tug

    Tug Well-Known Member
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    Celsius has worked well for me. I’ll note that they reduced the apr on some of the alts I hold but it’s not been a big deal
     
  18. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    You should switch to a hardware wallet any ways, but you don't have to use Ledger to stake or farm in their liquidity pools. 100% move your funds to a Ledger or hardware wallet and off an exhange, IMO.

    What are you looking to stake?
     
  19. danny2430

    danny2430 Well-Known Member
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    Yeah at some point the security will just have to take priority

    I’m really trying to stake as much as possible, plan on continuing to DCA with periodic lump dumps over the long term
     
  20. HuskerInMiami

    HuskerInMiami Well-Known Member
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    Why do you say this? I'd rather get interest. I'm also scared of losing/deleting/forgetting password/etc.
     
  21. danny2430

    danny2430 Well-Known Member
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    This is kind of my concern as well.

    If all these exchanges are insured, what’s the risk? I know it’s not your keys, but it’s still your money isn’t it?
     
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  22. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    Idk personally I feel like I’m going to keep my investment as safe as possible. There’s several safe ways to store your password and private keys. Do you not have a safe deposit or fireproof box? Or somewhere you keep valuables?

    Check Twitter and the users who had their account drained on exchanges like Coinbase how that insurance and support is working out. Search ‘Coinbase hacked’.
     
  23. danny2430

    danny2430 Well-Known Member
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    Well I’m officially scared shitless, def getting a ledger nano
     
  24. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    Don’t be scared just be in control of your wallet and private keys
     
  25. danny2430

    danny2430 Well-Known Member
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    Software wallet good enough or just hardware wallet?
     
  26. user15000

    user15000 Well-Known Member

  27. HuskerInMiami

    HuskerInMiami Well-Known Member
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    I read that long article you posted last week and I learned a lot about Cuba and what some of these countries are going through. I hope bitcoin can be a change for the good. What I don't understand is, when I transfer BTC from my Coinbase to Celsius, I pay a fee of $30. How are they transferring money without paying these fees?
     
  28. user15000

    user15000 Well-Known Member

    Alex Gladstein has put out a ton of good articles on how people in other countries are using it. Check out some of his other stuff if interested.

    You shouldn’t be paying anywhere near $30 to move off Coinbase. I sent a large amount from Coinbase Pro to cold storage last week and it cost 8 cents. To your question though, I’d guess quite a few people are using the lightning network. El Salvador’s entire plan is using the lightning network, and it is basically free to send even the smallest amount of btc.
     
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  29. Penguin The Duck

    Penguin The Duck Well-Known Member / #NFT Influencer
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    Hardware. You want a Trezor or Ledger, bought directly from them and nowhere else.
     
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  30. Whammy

    Whammy Donde es
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  31. HuskerInMiami

    HuskerInMiami Well-Known Member
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  32. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    Sold 80% of my Luna and deposited on Anchor. Almost $100/day yield… I’ll prob top it up out of pocket.

    [​IMG]

    *This could all be a ponzi, algo stables/seigniorage are contentious subjects.
     
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  33. danny2430

    danny2430 Well-Known Member
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    That whole saying that nobody knows shit about fuck with the crypto market? Yeah today certainly applies
     
  34. Arrec Bardwin

    Arrec Bardwin La Araña Discoteca
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    I don’t think the split is really that big a deal, they already have the fix, just people need to update and resync.
     
  35. IV

    IV Freedom is the right of all sentient beings
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    I mean everything I just read sounded bad and then the chart just launches :roll:
     
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  36. Whammy

    Whammy Donde es
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    Yay us

     
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  37. user15000

    user15000 Well-Known Member

    Lol at loaning out btc for a .1% return. Ya that’ll be a no

     
  38. danny2430

    danny2430 Well-Known Member
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    Not that the 0.25% they offered before was amazing either.

    Really looking to bring in the entry level crypto investor I guess?
     
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  39. Whammy

    Whammy Donde es
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    Holy shit. Blockfolio (now FTX) does 8% up to the first 10k in any coin they have (including cash).

    I do have the BlockFi card but literally transferred the first round of rewards into cold storage immediately
     
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  40. kennypowers

    kennypowers Big shit like a dinosaur did it
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    Cardano really likes the weekends.
     
  41. user15000

    user15000 Well-Known Member

    I’m too lazy to look but Celsius has to be much better too.
     
  42. Arrec Bardwin

    Arrec Bardwin La Araña Discoteca
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    It was like 5% up to 1 BTC earlier this year
     
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  43. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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  44. danny2430

    danny2430 Well-Known Member
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    6.2% up to first BTC, 3.5 after
    5.35% on ETH
    4.06 on ADA

    Gotta be the best overall rates out there for the top 3
     
  45. Chumbolone

    Chumbolone Wigglin’ my toes on a mink rug…
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    I’m staking ETH on Lido and getting staking rewards rebalanced in ETH. Then I’m wrapping my staked ETH (stETH) on Anchor and turning it into bonded ETH (bETH), using it as collateral on a fairly safer ~30% LTV and getting another 12-13% rewards in UST - which I use to market buy more ETH or deposit into Anchor and grow that passive income best egg I posted above.
     
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  46. user15000

    user15000 Well-Known Member

    I’ve decided I’m all for nfts. Bring as many people into the space as possible, even if I think they’re largely worthless. His analogy is tongue in cheek and silly though.

    Not a whole lot has changed since October 2020 when 2 punks cost $4k.

     
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