Bitcoin, Digital Gold 2.0?

howtze — Thu, 07 Jan 2021 07:03:00 +0000

Simply math and logic, decentralized, limited supply, institutional FOMO…

Bitcoin’s immutable monetary policy makes it a very attractive contender for better money… if not the best. #FewUnderstand ~ Jason Chew, Bitcoin Malaysia #1 Group

If Bitcoin (BTC) is destined to be
the digital gold,
this is the gap it has to / is going to fill.

Screenshot from https://8marketcap.com/

Supply and Demand

Amount of gold is not finite
as people tend to believe.

Bitcoin is transparently finite,
pure mathematics and logic
verifiable via public ledger.

Originality and Scarcity

Gold is scarce,
but it will never be ‘provably’ scarce.
Few understand the difference.

As Bitcoin becomes more mainstream
people are starting to understand
why the underlying technology
is so groundbreaking and
it is this hard cap of 21 Million bitcoins
that separates it from anything
the world has ever seen before.

Originality creates value.
Scarcity protects it.

从短期来看，比特币经历了从计算机代码逐步演变为准国际货币的过程，比特币占国际储备份额可能升至1%左右，比特币的合理价格在6000至7500美元左右。

从中期来看，比特币占国际储备份额比重可能升至日元的水平，那么比特币的合理价格在2.3至3万美元左右。

长期来看，如果比特币有机会发展成为最重要的国际储备货币，那么比特币的价格可能升至40万美元以上。

比特币的出现表明区块链要得到关注，但比特币不要随便进入，因为这些新生事物都有很大的不确定性。

DYOR – Do Your Own Research.

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ROTD: Non-Fungible Token (NFT)

howtze — Sun, 16 Aug 2020 05:21:45 +0000

Another type of digital assets.
‘Fungibility’ applies to real-world assets as well as digital ones.
Unlike Bitcoin, which has a supply of 21 million identical coins, NFTs have individual characteristics that set them apart from a typical cryptocurrency: unique, rare, indivisible.
Deep inside a non‑fungible token, metadata describes what makes this asset different from all the rest. This is a permanent, unalterable record that describes what this NFT represents — almost like the certificate of authenticity that you’d get with a rare painting.
While developers have the freedom to generate an infinite supply of certain assets, they also have the power to limit the number of rare, desirable items in existence.
NFTs can only be bought, sold and held whole. Remember the rules of non‑fungibility: you can’t purchase 10% of a plane ticket, or collect 50% of a baseball card.
NFTs aren’t an Ethereum-only thing — these tokens are also supported by other blockchains including TRON, EOS, NEO, and Dapper Labs’ Flow blockchain.
There’s two ways of measuring their success: the number of users they have, and the USD value of assets bought and sold on the platform.
Three key reasons why tokenization has the potential to make things even better: ownership, transferable, authentic.
Your socmed handle can be taken away from you in a heartbeat. NFTs cannot. Blockchain technology helps enshrine your ownership rights — and make digital assets a heck of a lot easier to move around.
NFT use cases: art, collectibles, gaming, virtual assets, real-world assets, identity.
Crypto domain name providers like the Ethereum Name Service and Unstoppable Domains, offering extensions including .eth and .crypto.
Rare NFTs can equal big bucks — like when a one-of-a-kind diamond is auctioned off.

Pros of NFT

They could unlock new revenue streams in gaming, sports, the arts, and technology.
NFTs could introduce millions of people to cryptocurrencies for the very first time.
They can transform our attitudes toward ownership — and make it possible to own a real-world asset that’s thousands of miles away.

Cons of NFT

Building decentralized apps for non‑fungible tokens can be tricky and time consuming.
Much more simplification is needed so NFTs are easy to use for people who know nothing about blockchain.
NFT games can have a ”hot potato” effect. Players buy an asset in the hope of selling it on for a profit, but if the market collapses, they can make a nasty loss.

NFT Stats

All these stats making promises of astronomical growth don’t tell the full story, though. The NFT space does have its challenges.
According to Nonfungible.com’s annual report, most projects have a poor retention rate — and in 2019, the vast majority were used for three months or less. As of February 2020, just 3.5% of these platforms were used for more than 10 months.
The liquidity of NFTs is also a crucial measure of how healthy a marketplace is, but in 2019, just 12% of newly created assets actually circulated between users.

Big NFT News in 2020 (so far)

Back in March 2020, Tyler and Cameron Winklevoss revamped Nifty, a centralized exchange that allows people to sell their tokens and withdraw their profits in fiat.
Companies are using NFTs to help consumers establish ownership and control over their DNA data, and others are planning to launch peer-to-peer marketplaces for NFT mortgages and rentals.
NFTs are even being created for journalistic content in a bid to tackle fake news.

What’s Next?

A straightforward user interface will be crucial for unlocking mainstream adoption.
As endless experimentation takes place, we’ll likely see several NFT projects crash and burn. Some will struggle to maintain the excitement and momentum they have immediately after launching.
As such, if you’re tempted to snap up a pricy token worth a few hundred bucks, make sure you’re not left holding a hot potato.

Full artcile: https://cointelegraph.com/magazine/nonfungible-tokens/

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