$1000, 12,000%, 17 Miles discussed on Biz Talk Radio Programming
17 miles and seven days boonies first time already with two knees I read last week. I'm going to crush it. If my knee even got sore, I would never write a bike again, let alone by two new ones. And then, right, Right. Riding bicycles actually helps. It makes you feel better after. I mean, there's some miserable parts to it like you're climbing peddling is there you know, it's just It's just physics. I can steer him really easy. Exactly. Have a bike, so I'm good. I'm my joint base again. Just So if you bought Dodge Coin, by the way in the beginning the year you've enjoyed massive gains over the last four months. $1000 Dodge Coin purchase on January one. Yes, is now worth roughly 120,000 bucks. It's weird. 12,000% wasn't that the fake when they were supposed to just for a joke? It started out as sort of a joke, but any look at this tells you how perceptive currency works. This is how Fiat currency where there's a perception of value, and if you think it's worth something that it's worth something it's as simple as that stupid talk about that as a good friend, Alan Goran Alon Goren with Draper, Goran and home. Founding partner of by the way he is an expert on crypto is investing is an expert on Blockchain. Also an expert on on Crowdfunding and so on, and so forth isn't accurate along is that basically, if people think it's worth something, it's worth something. Yeah, and the crypto space People have been saying means our money, and I think I think that's more true now than ever, right. If people are believe it's worth something, Then it's worth something. People are willing to accept it. And, uh, and it's happening more and more. Well, I do feel I do feel that, uh, you know this kind of ties into the N F T, which which We'll talk about a minute. But, you know, before you buy Dodge coin in hopes of capitalizing on games, you got to remember that Popularity and reliability do not necessarily go hand in hand. Right Right along, there's there's there's more to us than just popularity. Correct. That's that's absolutely right. So popularity will drive engagement and price. In the short term. We'll drive sentiment will get people to want to buy it or purchase it, But it doesn't mean that it's being used. It's similar to what happened with game stuff right? People were talking about it. People were buying it for all sorts of different reasons. Oh, yeah, but the average Gamestop sword was doing terribly. Yeah, so it didn't correlate right? Well, what could go wrong? You're in the middle of 2021 in the middle of Kobe, You gotta sticks and risk company that sells games that everything you could buy online. They're selling in the sticks and bricks were not supposed to go outside. It made no sense. That's great. That's a great example. So it leaves me Holland to the question about N F. T s because once again Look, I will say this when it comes to a token like Dodge Coin, whose values extremely volatile. Don't invest any money or not compared prepared to lose right because you need I think it's just prudent advice until you know that there is some innate value in this long term. Ethereum, For example, Bitcoin, for example, right now, N F. T s on the other side offense. Is that a fad in your opinion along because there's two sides of this coin, right? Hey, you know, I think that that it's both a bubble and the future, So I think in the short term, there's so much hype. There's so much excitement very similar to the original dot com bubble. Yeah, but to look at the dot com bubble and then say, Okay, well, that was a fad and that went away would be insane. Right through the bubble, the industry group much much, much higher heights. And I think n F T s will be the same way It's the future collectibles. It's the future of baseball cards and common Books and more going to go away. But in the short term, there is a lot of hype and some things I think are over price. And once again, funds of funds ability means that an asset can be exchanged with a similar asset without losing value. Non fungible as in non fungible token, Okay would indicate that it's one of a kind, but here's my question. Okay, so any of these are one of a kind digital Assets. Digital collects collectable digital certificate of ownership. Okay, that's better based upon a physical ass, because it can be a piece of art. But here's but here's the thing. Here's the one of a kind thing. I'm having a problem with this thing, because if it represents a drawing or an animation or a piece of music or a photo, or a video, or even a tweet or a joke Hello Okay, That's the original part. That's the non fungible part. The N F T is really fungible. And here's the philosophy I want to put forward. I know this is really deep. The asset that the N F T represents is non fungible. Okay, It means that it's a one of a kind joke. A one of a kind tweet, but the N F T is not Unique. It's just another NFC, representing something unique. How do you wrap your arms around that Because that's a tough one for me and take it slow. You know, I think I think it's sort of been in a way. It's It's kind of like crypto in that if you believe it's worth something, it's Yeah. I'm going to have to write something on this. I'm gonna have to do is talk at your next summit about this because I bet this could be a good argument. I want to go. Listen, I'm not saying I'm against it. I'm just saying it's worth posing the question Correct. It's worth posing the question. And I think that we're waiting. I am waiting on legal precedents for licensing part of it because I can go on a website and lives something and actually check the box and say I have a license to this. Hey, you can do that with a piece of damn soft website. I can use it in the video. I can use it in different ways. Right? Right. But what happens if I meant so you get people are doing that with N F T. What happens if I take them? N f D and I send it to you silly, But you never checked that box. You have the right now to the license. I don't know. And once the legal precedents that explains that all of a sudden imagine when a band does do it. It doesn't just say, Hey, this represents one of 1000. Maybe it means this represents one of 10. People that can ever use this for commercial purposes. They need to define view of it goes up. There's some real value there. There's something interesting. Well, look at it. Listen, there needs to be some sort of a supply issue there right because the inherent value of something is based upon the scarcity of it and the perceived value of it. In other words, if there's Unlimited pesos. Right then what are they really worth? Nothing. If there's limited pesos at some point you're going to see with the elasticity the economy At some point they're running out of pesos because they're limited their finite. I think I'm dizzy. I think part of these this. I think these are aware that the I think these are the scholarly papers are to come out Holland. I think that's the next step on this. Is that you're going to see economists guys like art Laffer all the way to the new Harvard business school guys that are going to weigh in on this, and that's going to cause this. Like you say legal precedent to be to be questioned, and I think you're absolutely right. And when that happens, then we're going to have some. We'll have clarity correct. I think it's going to be so much fun. Hey, rice better. I mean, it's easy to compare it to comic books and collectibles and say, 11, and that I think is very legally clear..