Jpeg NFTs we’re great for profit, I wish the NFT hype would return, no doubt it will at some point
Crypto Currency - Believers Only
https://www.euronews.com/2023/09/08/more-than-11000-years-in-jail-for-crypto-firm-founder
11000 year jail term, no messing
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Assume the 5% are the ones Michael Owen guaranteed?
Who’d have thought it
99% of all NFTs were bought with crypto, not with cash, and all those who spent ‘stupid money’ probably acquired the crypto in question (Bitcoin/Ethereum) years ago for peanuts.
It just sounded mental back in 2021 as the crypto bull run was topping out so the equivalent price in $/£ was insane.
As mentioned many times in here, most people bought and sold at a profit during the run.
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benson eh?
Think about it, is someone going to transfer £100,000 to Binance, exchange it to Ethereum then buy an NFT?
That is technically possible but just doesn’t happen. Remember NFTs are bought with crypto and most rich people in crypto bought in years ago when the prices were much lower.
Take the Bored Apes for example which are minted on Ethereum, people were buying and selling in Ethereum, most of which was purchased for peanuts. Back in 2021 when each Ethereum was worth $4k, when someone bought an Ape for 30 Ethereum, it sounded a lot in FIAT (for dave) terms but in actual fact it wasn’t costing the buyer a lot.
Hursty most people bought and sold at a profit during the run.
That does not line up with statistics of trading that quote something like 80% of them consistently losing money. If there were all winners in that market then there would be no winners. HIGHLY unlikely that “most people” made a profit.
Morty-C-137
Crypto ‘Traders’ = Winners
FIAT stooges = Loosers
You need to get yourself on Reddit bro, it’s where all the winners hang