▶️ Watch on 3Speak --- Traditional Systems are always nibbling at the controversial aspect of crypto and this is because of the validation that crypto is not flawless. Crypto is however not trying ...
Comments
@depressedfuckup: I feel like the government doesn’t have a clear definition of what they consider a security or not. I’ve seen several cases where certain assets have been called securities and later called assets. I agree that NFTs have intrinsic value. Similar to art. You pay the price you think the art (or in this case, the NFT) is worth. It’s really about how you feel about the NFT or piece of art. But I feel like crypto is the same. Even though in the case of crypto, you buy and sell at market value, things like hodling and limit orders exist for intrinsic assessment. If you feel that a certain project is worth more than it is currently selling on the market, you wait until others can appreciate the value you see in it and are willing to buy at that price.
@sapphirecrypto: DeFi is a niche that performs exceptionally well during bull markets. Greed drives the frenzy as high APR rewards generally appreciate, as opposed to remaining stagnant or depreciating. However, it's a sector that ultimately needs to be exited during bearish times... kind of like an ice cream shop at the beach shuts down during winter. It just becomes a money pit. NFTs tend to fall into the same categorization.
@jfang003: I think it is definitely the human factor. The FOMO into NFTs/Defi were something that appealed to people who wanted money. Unfortunately, the hacks or crash destroyed the dreams of a lot of people. Investing into bad projects doesn't help and they lost a lot of money. Along with all the hacks/rugpulls, people just lost hope from it being overhyped.
@joetunex: My internet sucks at the moment, will be back to watch this but I had a critic view of NFTs in its early days as well, I just felt it a lot is being paid for it without usecase until Splinterlands helped me change that perspective, so it boils down to getting to know projects and the same can be said for DeFi.
@takhar: I think for many people what gave them that perception was how DeFi and NFTs went from overperforming to underperforming in a relatively short amount of time. Both of them were new and that was they're first cycle. I believe they both have great potential when more utility and more robust systems are built in place to prevent hacks and exploits.
@hivebuzz: Congratulations @josediccus! You received a personal badge! powered up at least 50 HP on Hive Power Up Day! This entitles you to a level 2 badge Participate in the next Power Up Day and try to power up more HIVE to get a bigger Power Bee. May the Hive Power be with you! You can view your badges on your board and compare yourself to others in the Ranking Check out our last posts: Hive Power Up Month Challenge May 2023 Winners List Be ready for the June edition of the Hive Power Up Month! Unveiling the Exclusive Web3 Berlin Conference Badge. HiveBuzz Adds a Touch of Excitement!