You have a point.
The NFT craze is not what it's hyped to be. I've been in crypto/Bitcoin for 10 years
(knew about ETH before it even launched, created both BTC and ETH farms, etc etc)
and have seen EVERYthing. E VRE Thing. The NFT hype is just like many other past iterations of the same thing-- different ways to separate you from your Bitcoin/money. Examples are... high-yield investment platforms, ICOs, masternodes, coins created for staking and now defi and NFTs.
Each 4 year halving cycle has the growth of Bitcoin and the introduction of new "ideas" that everyone gets all excited about but really when thought about are either scammy or just not that big of a deal.
Yes, an NFT is a collectible. It is not entirely scarce though. If it is a digital picture then yes, someone else can take a photo of your "scarce" item. Also, will someone in Italy/Hong Kong/Venezuela want your scarce item? No. You can say "I have this creation of _____," but the question is who else will buy it from you and what is the true value of it compared to other items on the market place.
Add in that there are numerous reports of NFTs being paid-for behind-the-scenes by the people that are selling them. Trust nothing that I say--- research it.
I'm not knocking HPIL in any way, I own an extremely large position from the trips. Just wanted to give information showing that Bill's one sentence post really does make sense when thought about.
There is only 1 truly scarce asset-- more of it will never be able to be created-- and everyone around the world is clamouring to get it. Everyone around the world is actually USING it right now as we speak. It has gone up an average of 200% Every Single Year since it was created, AND, in its entire existence, except for 1 year, has always had a higher high, year-over-year.
Starts with a B.
;)
Have fun, trade well, and don't fall for hype of any kind out there! Search for truth and facts and you shall be presented with both.
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