Bitcoin Forum

NOTE: read the replies to understand more

Iam very curious about NFT here is some question I ask myself and which I would also like your very own opinion about NFT.

I saw NFT was like Bitcoin when it started from the bottom pointing at the value I know bitcoin is bitcoin but....


The year 2021 and base on my research NFT started this year.
https://i.imgur.com/myehUui.png

Vs
Value from BTC was recorded in here starting at year 2014
https://i.imgur.com/mEbNG3f.png

but...

In the year 2009 BTC was invented in technology and social media was not as its best at that time and the was $O but when trading started it was $0.08



As some of you know NFT was said started this year and today is the day I was "very curious" about it but I was curious for like a month now but weeks came by and it was on my feed and today is kind of a free time for me so I search and search.


And here is something that I should use as an intro if you are also like me.

https://www.aljazeera.com/economy/2021/6/30/world-wide-web-source-code-nft-fetches-5-4m-at-auction (https://www.aljazeera.com/economy/2021/6/30/world-wide-web-source-code-nft-fetches-5-4m-at-auction)


--------------------------------------------------------------------------

I see potential here since it's the era of innovation of technology where games are in trend in the era of 21st century which NFT is used in games today. Comparing it from 2009 and 2021 I see potential since it's said to be used in games even I read the disadvantages.

https://www.bakertilly.com/insights/the-nft-market-the-future-of-trading-and-collecting (https://www.bakertilly.com/insights/the-nft-market-the-future-of-trading-and-collecting)

Questions

-What can you say about NFT?

from my subject

-can you say that NFT is the next BTC in the 5 to 10 years later?



Note: Iam still a noob about NFT correct me if you have some negative thoughts about what I have explained.

1. Your NFT chart is wrong, why you use 1 day chart instead of all time chart? ::) To make people thought NFT price is pumping? lol nope, there's already dump since April 2021 [1]

2. NFT is hype project same as ICO, IEO, IDO, DEFI etc etc, it's strange comparing NFT to BTC and NFT wouldn't become the next BTC, same as other project can't overtake BTC.

3. Online games or E-sports already exist in the past, so they can stand without NFT. Most of people were playing NFT games to earn money especially for third world countries, not to mention how greedy are them want to abuse the system.

---

[1] https://coinmarketcap.com/currencies/nft/

You can grab 2 charts of almost any decently volatile asset and there's a good chance that you could find decent similarities at certain timespans; and it doesn't mean it will perform the same way in the end.

Thank you for noticing the mistake and your response. I dont have the intention of "To make people think NFT price is pumping?". I'll correct it in a sec


I screenshot a few and crop I drag and drop photo when I upload I dont see the whole details incase you wondering so it's my mistake my goal is to show and compare the all year from NFT and BTC to what value it started and the value of the present. Next time Dont think in advance please some people dont have the same intention for we are individually different and it turns out I may have deleted or it was out of my mind that I did not screenshot the all year from when the minute a posted this.

https://i.imgur.com/Kvjnd0q.png


I also want to say Iam speaking about NFT growing more and more because games I know games and e-sports can stand alone without NFT. Iam not talking about games can exist with NFT along its side, I know they can exist without NFT but I would like to apologize if I did not clearly elaborate on your thought about my topic

Its actually NFTs against bitcoin so how can you convince someone to decide which NFT will become the next bitcoin in the next 5 to 10 years? And in my opinion there is no another bitcoin and if a project is projected in such a way it didn't have confidence on their own. NFT is just a hype and probably it won't even for the next couple of years so dumping the savings on it is serious risk.

You might be blinded by the hype price they've created that's why you can say something like this but in reality this is just the same as ICO hype before and it will eventually be gone. The charts of almost all NFT you would see will have almost the same price movement for over a month and I assure you that this won't last for 5 years or so maybe a 1 year or two is enough for it then we'll see another project created by them.

I don't know what is it but it would be almost similar to this again, a type of project(s) created to make a hype or pump and dump where investors will pour their money on it.

NFT is a good coin for holding. But it does not compete with Bitcoin. Bitcoin is the king of crypto currency coins and it always remains the king. But it's a good coin for holding. So, we can buy a small amount of NFT coins at current price and then wait for a dip to buy it again. But comparison between NFT and Bitcoin is a joke

This, how many times we have seen in this market a new type of investing vehicle that was supposed to bring a revolution to this market and even surpass bitcoin? We have seen this many times and it has always failed, and if anything the odds of NFTs are way worst than the odds of icos or defi, and this is because the number of scams in the NFT market are probably above the scams we saw with icos, so even if the public is naive even they will understand that investing in those coins is a bad idea and they will begin to avoid NFTs like the plague.

NFT trend starts this year, and that can last for many years but I don’t think this will be the next Bitcoin because they are also depending on the trend of Bitcoin. NFT is a good investment to those who understand its purpose, I’m into NFT games but i didn’t think about comparing this to Bitcoin because I know, BTC will still be on top.

NFT trend would really remain if there would be some continous demands of it on upcoming years to come but we cant really make out some conclusions yet on how it would be comes in upcoming years but lets see on how it do perform on this present day and on upcoming future.

Really hard to tell or to determine because  if you've seen most of them are on hype and i dont actually feel off their relevance
but lets see on how it would become.

For now then consider out on having some  consideration  on your risk management towards investing.

I think it is too early to compare NFT with BTC. The hype of NFT can be over, or people aren't really interested again with NFT. 5-10 years is a long time, everything is possible to happen. Also, if we learned from history, I am not sure if there is another crypto coin that can be as good as Bitcoin. Bitcoin is the only crypto coin made with a unique concept and it even makes Bitcoin possible to survive a long time. So, to compare NFT with BTC, better to see NFT progress in the next 1-2 years. IMO

Good spot on for the chart and you might see some of the charts that have also the same pattern as what you've seen.

NFT isn't just a single coin or crypto that can be compared to bitcoin but it's composed of many projects.

We don't know what they will be in the next few years and they're going to be tested once the bear market comes.

Iam not convincing anyone I am showing and asking people who have the same idea and thought as me.


Iam talking about specifically the value of bitcoin and today can be The value of NFT in the next 5 to 10 years. Like I said bitcoin is bitcoin yes it one of the kind but as I said I am pointing out the value.

Some projects are growing 1000 times faster than bitcoin if we look at their weekly and monthly charts, someone bought an NFT for 100 dollar and in the next week its worth 150K on the marketplace so in that case its more than Bitcoin but since we are talking about long term which is 5 to 10 years I don't even think that they will exist that much longer.

Or it couldn't be the same since they are on different niche in the market. I think 2017 was the year when first NFTs was created (correct me if I'm wrong) and that started on Cryptokitties afaik, well, just for someone that may read this thread but if you're referring to the trend I think it's most likely this year alone.

First, as I was reading the first lines of your text @op, I thought you meant NFTs in general, only got to know that the NFT you meant was a coin or tokens based on the price chart you posted.

The long and short of this matter is that bitcoin will always be bitcoin, there is nothing like next bitcoin anywhere, bitcoin will continue to do its thing while other coins out there will do their thing also, no coin out there will take the title of "next bitcoin" cus as long as crypto continue to exist, bitcoin will never die.

NFT coin or token might do well in the future, but that will never make it the next bitcoin, NFT will remain NFT while Bitcoin remain Bitcoin.

I think he actually got confused and are mixing up NFTs with the shitcoin called NFT which is what the chart depicts. They are two different things. Let's see if he comes and clarifies.

I am not sure what this "nft" is (the one in the chart), NFT is not a coin that we can check all of them together, we are talking about something that is different from nft to nft. Which means that there are some nft's out there which will gain 1000x value, and some that will become basically zero. When you consider that, yes there could be one NFT that increases in price just like bitcoin did, that is not impossible, depends on the NFT we are talking about, but there are some that will be zero as well so how do we know which one will be the good one? This is why I believe that we should not be looking at anything that is remotely grouped together, that will not give a healthy response.

There's a lot of projects already that says they can really replace Bitcoin but no one succeed on this as of posting so even if there's a good hype with NFTs right now, I can't still see any reason to replace Bitcoin because they serve a different purpose and that is cryptocurrency. Bitcoin will stay on top while many altcoins will stay active to support Bitcoin, this is the normal trend.

He might just use the wrong chart on this but let's see if OP will confirm this or not.

It turns out that someone going LSD-blind reported a response from me, and a moderator going even more LSD-blind has deleted it. Neither the one who reported nor the moderator seem to have realized that I was asking about the most relevant point in this thread, which is what the OP needs to clarify:


I don't know if I used bad wording or something but the last 5 replies are about the same thing, so my question can't be off topic or low value:

Reading your replies got me confused and possibly I end up making people confuse as well. Like I said Iam a noob at NFT.

but...Yes, the coin and the value are what I am talking about.

Everyone has different views if you have an issue with your deleted post maybe because I said that already.... To everyone who said bitcoin is bitcoin from the next 5 to 10 years I see bitcoin will still be on top and yes bitcoin is bitcoin and will remain bitcoin. To clarify everyone on my point of view on every reply Iam explaining that "I am only pointing out the value the worth of NFT the potential of the coin for the investors to invest or buy not becoming the king in the next 5 to 10 year. Again Iam only pointing out the value worth the amount of the value BTC from the time it was new and NFT.

Also if your going to point the thing I said in the previous reply of mine Like I said Iam a noob in NFT and base from I understand that everyone wants me to clarify what NFT Iam talking about.

From my understanding, your post is deleted because you elaborate that Iam comparing NFT and Bitcoin in which you understand that Iam comparing NFT to be the next BTC that BTC will be no more if NFT will grow. To simplify again, I see the potential of the NFT in the next 10 year attracting CEO's and rich investors like Elon Musk sharing to people my point of view and I want to see if someone has the same view when it comes to the worth, the value and amount of money is NFT]

PLus its my fault that I got people confused because of the subject. Big apologizes I'll change the subject

This issue is as old as hills. Every now and then we keep hearing that BTC is going to replaced by this coin or that project.  I was just reading this thread, Can Eth flip BTC and why this is good? (https://bitcointalk.org/index.php?topic=5369186.0). Though ETH is well established coin with huge cap and volume, still we can't say it can replace btc. You are right in your second point that NFT till now is just a hype. If its really something worthy, it has to prove it over a period of 4 to 5 years atleast.