NFTs: Liberal Back Scratch Fever
I was ready! I was On Board! Profile created on Opensea - check. I had purchased cryptocurrency and was ready to convert this into a trading card - check! My son is an amazing artist - check! Now what? The normal sign up, upload, and get selling right?!? WRONG!
It took over a week to try to get an account sorted out, along a hitch hiker's highway right out of the Twilight Zone, a short story called "Opensea." I am still not sure why it wasn't working for me. It took less time to open three crypto wallets - no brief task! So what is any tech savvy investor going to do? Drop-kick Opensea - and check out Rarible! It must be better, right? It is a little less trouble figuring it out. But guess what kind of artist you have to be to make art that can be sold as a Non-fungible token? You have to have multiple social network accounts that show a long history of viewership! Hit the brakes! Then you have to be approved...tell me you are skidding!
Why can't a guy sell anything he wants as an NFT that anyone can buy, and then melt it down for ETHR whenever he wants, just like game gold on NIJ? I was finally figuring it out. There is so much copyright infringement going on in these NFT trading sites, who would want to make it easy for violated, professional artists to get a profile so they can do something about it? Or, why allow other artists to create a larger supply of art for what would be an incredible idea, where the originators are making bank on Minecraft stickmen pictures? Less supply equals greater demand! Greater demand creates volatility just like that old BIT of Burden; however, we don't need no stinking Bitcoin anymore!
There are better options than Bit too! DOGE coin has room for growth with inflationary self-regulation, something any small business merchant would want (/marquee) (Take your daily income and buy groceries with it before it tanks for the weekend.....). This is why all the crypto tokens are based on ETHR. Options trading in cryptocurrency means something totally bad for Bitcoin. Like, we got options elsewhere! Not to mention Uncle Sam printing a bunch of dollars and buying all the cryptocurrency trading platforms with the stroke of a pen. Call those dollars whatever you want: Ben DOGE, George GEM, ETHR Jackson… One ring to rule them all, and in our darkness bind them...
Therein lies the rub. The NFT websites are, in my opinion, not just Bitcoin back-scratchers, but tremendous scams to sell digital trading cards for $100,000k from the chosen few to the privileged, which cross-cancels moral integrity. The entire NFT Crypto niche can go belly up, and many of those cards become worthless and untradable skeleton keys. Why can't the art on those NFTs be melted down for a gas fee just like other ETHR backed cryptos? Oh, it will. It will eventually. And I won't be using Opensea or Rarity to sell collectible art that can be melted down for the equivalent amount of ETHR that I bought it for? But then again who needs any of that horribly tangled mess. It is more uncomfortable than a wallet full of rewards cards!
You want to make shopping fun and complicated? Buy a gift card from Amazon and use their new gift card small change consolidator. Or, ask your politicians to push gift card reforms, and you may buy gift cards that never expire, that are FDIC protected and can have custom pictures or be simple barcodes. An FDIC protected gift card is bigger than the rarity of gold or cryptocurrency. It is a nuclear pen on a blank check, where the limited resource is time for negotiations and political term limits. It is the Crispr tool on slate Ebola. The real reason we can print all the money we want is that Gene editing has just eliminated the need for a nuclear pen. No more silos, no more SRBMs, just the most economically devestating virus of all time and a million ways to crack it open.
Mic Drop
