Thoughts? NFT

[El Presidente]

 

 

UNITED CIGARS LAUNCHES FIRST NFT CIGAR

April 6, 2021 

United Cigars Director of Operations, Oliver Nivaud, has launched the first NFT (Non-Fungible Token) cigar. NFT is a unit of data on a digital ledger called a blockchain, where each NFT can represent a unique digital item, and thus they are not interchangeable. NFTs can represent digital files such as art, and other forms of creative work. Nivaud has spearheaded the formation of Concept Cigars, a new venture that will be used to create concept cigars.

Like a concept car, a concept cigar is made to showcase new styling. Concept cars are often shown at motor shows to gauge customer reaction to new and radical designs which may or may not be produced. Concept cigars a similar premise, it may never go into production directly, but possibly could. In time, a concept cigar could undergo many changes before the design is finalized and produced. This is not necessarily a production-intent prototype, just a concept cigar for now with future projects in the works.

Full article:   https://www.cigarjournal.com/united-cigars-launches-first-nft-cigar/

[mprach024]

Bet it’s good, these things are lost on me

[PapaDisco]

Sheesh!  What's next?? Paper Money?

 

[El Presidente]

2 minutes ago, mprach024 said:

Bet it’s good, these things are lost on me

.......you couldn't understand it either 

[Kevin48438]

So, I buy a cigar I can’t smoke?  My purchase is just a form of approval of some artwork?   I own this artwork, conceptually (not physically), and can therefore trade it?  

I’m not sure what I’d actually own.

[mprach024]

2 minutes ago, El Presidente said:

.......you couldn't understand it either 

Not even remotely

[Hammer Smokin']

4 minutes ago, Kevin48438 said:

So, I buy a cigar I can’t smoke?  My purchase is just a form of approval of some artwork?   I own this artwork, conceptually (not physically), and can therefore trade it?  

I’m not sure what I’d actually own.

you just explained bitcoin. 

[MrBirdman]

NFT’s are a scam. It’s just a question of how far the scheme will inflate before people realize they are literally buying nothing - no product, no rights of ownership, nothing. 

[JZBdano]

I blame it on not enough sunlight and fresh air.  Too much time on lockdown in the basement.  Computer nerds need to get out into the real world sometimes or they come up with wacko stuff like this.   

 

We don't want concept cigars, we want LGC MdO No2s and HUPCs.

[Kevin48438]

Maybe I do understand it.  Just seems like such a fantastically bad idea, I must have missed something.

I have a hard time with paying good money for things that are purely intellectual, non-informative “items.”  Its value is 100% confidence based.  I prefer things with an intrinsic value.   Years ago I bought a couple bitcoins.  If I recall, I wrote down a long code on a paper I assume is lost.   I could never figure out how to spend any or do anything with it.   I don’t even know how to access my bitcoins now.

I don’t know.   I think I’m missing something.  There is something coming with sports collectibles along these lines soon also.   So there has to be something to it.

[Chibearsv]

So I buy nothing for around $1000 and hope someone is dumber than me and offers me more for my nothing in the future?  I’ll stick with coins and gold. 

[benfica_77]

This is the evolution of the pet rock concept....

https://en.wikipedia.org/wiki/Pet_Rock

It's a load of $hit...people are going to lose a lot of money on this crap

[Kevin48438]

2 minutes ago, Chibearsv said:

So I buy nothing for around $1000 and hope someone is dumber than me and offers me more for my nothing in the future?  I’ll stick with coins and gold. 

And how does one enjoy these nothings in the meantime?  At lease one can look at and display a baseball card.  

[Mrcpt]

United cigar.. these are the cigar authority folks who tried to claim a Siglo VI was exactly the same as a DR Cohiba red dot. 

[Bijan]

9 minutes ago, Kevin48438 said:

Maybe I do understand it.  Just seems like such a fantastically bad idea, I must have missed something.

I have a hard time with paying good money for things that are purely intellectual, non-informative “items.”  Its value is 100% confidence based.  I prefer things with an intrinsic value.   Years ago I bought a couple bitcoins.  If I recall, I wrote down a long code on a paper I assume is lost.   I could never figure out how to spend any or do anything with it.   I don’t even know how to access my bitcoins now.

I don’t know.   I think I’m missing something.  There is something coming with sports collectibles along these lines soon also.   So there has to be something to it.

This is worse than bitcoin. Bitcoin is quite literally fungible. They're all the same. It has some price per bitcoin, you have some you get that price. These NFT tokens are unique the opposite of fungible. Someone has to want the exact one you happen to have...

[Kevin48438]

And an NFT token is nothing more than a record on a computer (or a network of computers)?

[Bijan]

1 minute ago, Kevin48438 said:

And an NFT token is nothing more than a record on a computer (or a network of computers)?

It's the same as a bitcoin just unique, instead of generic. Same technology essentially.

[Kevin48438]

3 minutes ago, Bijan said:

It's the same as a bitcoin just unique, instead of generic. Same technology essentially.

So, yes.   I don’t really understand bitcoin either.   The idea of owning a computer record that corresponds to nothing more than a mere idea and then hope that other people’s confidence in this scheme remains, is baffling to me.  It’s like betting on the dumbness of others.  Probably a good bet.

[mprach024]

It’s all has to do with blockchain, AI, machine learning, analytics, SaaS, integration and intelligence, but mostly the easy explanation is....cloud.  So it’s pretty simple.

 

@Habana Mike which buzzwords did I leave out? ...Don’t say Snowflake...

[Bijan]

Just now, Kevin48438 said:

So, yes.   I don’t really understand bitcoin either.   The idea of owning a computer record that corresponds to nothing more than a mere idea and then hope that other people’s confidence in this scheme remains, is baffling to me.  It’s like betting on the dumbness of others.  Probably a good bet.

The scheme is valid as far as schemes go though. But yes the main danger is loss of confidence or just loss of interest on the part of others.

People spend millions or billions of dollars on electricity to generate new bitcoins and that secures the transactions as well (they charge a fee for each transaction as part of this). Pretty much where the value of bitcoin comes from (the cost of mining). It's analogous to gold mining and the price of gold. But yes entirely virtual, so more likely people will lose interest or lose confidence in it entirely.

[Kevin48438]

1 minute ago, Bijan said:

The scheme is valid as far as schemes go though. But yes the main danger is loss of confidence or just loss of interest on the part of others.

People spend millions or billions of dollars on electricity to generate new bitcoins and that secures the transactions as well (they charge a fee for each transaction as part of this). Pretty much where the value of bitcoin comes from (the cost of mining). It's analogous to gold mining and the price of gold. But yes entirely virtual, so more likely people will lose interest or lose confidence in it entirely.

Yeah, that was me.   I do understand there is some intrinsic value to bitcoin, but still haven’t wrapped my brain around it completely.

This looks much worse.  It’s not even currency but a collectible.  Thats only value is someone points at it and anoints it as valuable.  Tom Brady (or whomever) points at a computer entry and says that one is special.  He promised to only point once per year, therefore it’s rare.  Then a market develops because multiple people now want it.   Really?

[dragn270]

I didn’t understand bitcoin when it first came out and now there’s NFT? What’s the backing for both scenarios? Like my digital money I see when I look at my bank account at least has something physical to eventually back it up, as in I can cash out that value anytime. But with bitcoin and NFT am I buying or investing? Will I ever see a return?

[Chas.Alpha]

I am currently working on a conceptual #1 hit single. No one gets to hear it, but I promise even the most discerning ear will love it!

Please send $100 to: [email protected]

😀

[MPS]

NFT's are actually an incredible space right now. As with most collectables you have to filter out 99% of the garbage to find the real value and what will appreciate incredibly. For anyone in the know there are still undervalued items out there that will be extremely profitable like Hashmasks. I think all the original stuff, blue chip stuff, hasn't seen anything close to a top yet. Were talking Punks, Beeple, Glyphs, founder kitties etc... Also the Sports side of NFT's have incredible upside I'm just not sure about the platforms they are running on. There are ways to get exposure if your involved in the crypto space by investing in platform coins or indexes such as NFTX and B2. 

Have a look:

https://opensea.io/

 

[Bijan]

I just don't see it. Unless the NFT ownership can be linked to something like copyright rights that are legally enforceable, it's not useful (at least to me). Anyone and everyone has access to the actual digital file which is actually useful and you only have digital proof that you "own" it.