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Crypto Stamps And Nft's -

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Pillar Of The Community
USA
2502 Posts
Posted 01/24/2022   11:23 am  Show Profile Bookmark this topic Add modern_who to your friends list Get a Link to this Message
Is this stamp collecting or a load of crap?

What do you make of it?

Tom Droege, who runs Stamp Auction Network, sees that NFT's of stamps might be the best way to bring a new generation into philately.

As for myself, I prefer building my Scott International Volume One classics collection which has now been split into two binders and includes a nice US #1 and a penny black, along with a few favorite areas in Scott Specialty Series albums.

79dDjoO165s
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Larry, APS Member

Modern-Vue Stamps on eBay
Edited by modern_who - 01/24/2022 11:57 am

Valued Member
United States
17 Posts
Posted 01/24/2022   11:44 am  Show Profile Bookmark this reply Add giltanis to your friends list  Get a Link to this Reply
NFTs are a scam IMO and not just when related to stamp collecting. They are an attempt to draw more people into crypo currency ownership in the continued search for a greater fool to keep things going up.

NFTs aren't even what they pretend to be. They are at best a record that a transaction occurred and are not the asset(usually an image) and don't prove that someone had ownership when they minted the NFTing. NFT marketplaces are already full of NFTs minted for artwork the minter didn't own the rights to.
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Valued Member
United States
431 Posts
Posted 01/24/2022   4:30 pm  Show Profile Bookmark this reply Add Cephus to your friends list  Get a Link to this Reply
It's a load of crap. You're getting people to pay for things that aren't real with no control over the supposedly "real" thing. NFTs and crypto are a tax on dumb people. Some are making money off of it by taking advantage of the terminally gullible.
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Pillar Of The Community
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8143 Posts
Posted 01/24/2022   4:38 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
Spink just sold this NFT for 15,000 Pounds:

https://live.spink.com/lots/view/4-...uction-house
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Pillar Of The Community
USA
2502 Posts
Posted 01/24/2022   6:08 pm  Show Profile Bookmark this reply Add modern_who to your friends list  Get a Link to this Reply
rodgcam,

Wow, whoever wrote up this auction description for Spink can really pile it on. So I take it that this is a physical fragment to which you get to own some X's and O's in your "digital wallet." Well, isn't that special!

NFT could very well mean that that what you really get for your money is "Not an F'n Thing." But that doesn't mean you can't ride it to profits if you know what you are doing and want to play that game.

I have heard Bitcoin referred to as "a limited amount of nothing." Still I wish that I had 'bit' on some when it was available for about a dollar. But I'm neither a gambler nor a speculator and would rather live in reality, no matter how tough that might get.

There was quite a speculative stamp market in mint, never hinged, Western European stamps in the 1960's with stamp shops being raided by stamp speculators -- I dare not call them collectors -- for undervalued stock.

The Tonga "coin" stamp monstrosities were another thing that went for some crazy prices at the time.

Now, with countries such a Germany, it's not surprising to go to the latest Scott catalog and see the values drop some nearly every year. And Western European stamps of that era seem to hold the lowest catalog values among their country's issues.
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Larry, APS Member

Modern-Vue Stamps on eBay
Edited by modern_who - 01/24/2022 6:09 pm
Valued Member
Canada
54 Posts
Posted 01/24/2022   8:46 pm  Show Profile Bookmark this reply Add DeeBee to your friends list  Get a Link to this Reply
I prefer 'real' vs 'crypto'. Same with stamps.
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Valued Member
United States
113 Posts
Posted 01/24/2022   8:57 pm  Show Profile Bookmark this reply Add LadyGrace to your friends list  Get a Link to this Reply
I think it's stupid.
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Pillar Of The Community
Canada
1694 Posts
Posted 01/24/2022   9:11 pm  Show Profile Bookmark this reply Add Just_fella to your friends list  Get a Link to this Reply
Ummm I think of not only Bitcoin but the Euro too
Either way not valuable in my hands
Don't appreciate them the way another might
Not to say I'm not going to get some,
Sadly I gotta say though I feel it's the future,
They sell there hobby to the market way better

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Edited by Just_fella - 01/24/2022 10:21 pm
Valued Member
United States
113 Posts
Posted 01/25/2022   2:26 pm  Show Profile Bookmark this reply Add LadyGrace to your friends list  Get a Link to this Reply
I just can't imagine actually enjoying a collection like that. If you wanted to collect interesting online images why not just use Pinterest for free? It must be more about the "pride of ownership (or partial ownership)" of these little pixilated images. "trust me, it's worth something I swear!" Like a really geeky chest-thumping exercise. Of course, I could be a pot calling the kettle black.
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Pillar Of The Community
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Posted 01/25/2022   3:53 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
It just befuddles me. If I don't understand it I don't get involved and I completely do not understand this NFT manure.
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Valued Member
United States
162 Posts
Posted 01/25/2022   5:43 pm  Show Profile Bookmark this reply Add Gibby01 to your friends list  Get a Link to this Reply
With Facebook and Google working to create a 'Metaverse' there may come a time in the near future where some people spend a lot of more of their time in that world and these NFT's may end up tying into that "lifestyle". Whether this is the ground floor or an early bubble is just speculation at this point. I studied computer science back in college in '87-91. I remember we would have to get and submit some assignments by using kermit/ftp into the colleges mainframe systems. One professor spent much of his class time droning on about the future of computing. We were dumb college students and should have paid more attention to what they were telling us, we could have gotten into the ground floor of something huge, most did not. Whether NFT's have any relation to Stamp collecting is debatable, but like the birth of the internet 30 years ago, something is changing and people can either make it happen, watch it happen, or wonder what happened. At this point in my life I'll probably just be watching....
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Bedrock Of The Community
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Australia
35151 Posts
Posted 01/26/2022   12:16 am  Show Profile Bookmark this reply Add rod222 to your friends list  Get a Link to this Reply
I thought that a wonderfully produced Youtube.
Thanks for posting.

I understand a little more than I did an hour ago.
Albeit, at 2/3rds the way through, I dozed off.

I am no longer a World wide collector,
I stop there.

Query, did I get it right?
every time a sale occurs in the blockchain, the original artwork owner gets a %

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Edited by rod222 - 01/26/2022 12:19 am
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United States
10439 Posts
Posted 01/26/2022   02:46 am  Show Profile Check 51studebaker's eBay Listings Bookmark this reply Add 51studebaker to your friends list  Get a Link to this Reply
At best a gamble and at worst a scam... ultimately cryptos only have value if you can find someone who wants them.
Don
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Pillar Of The Community
United States
522 Posts
Posted 01/26/2022   08:14 am  Show Profile Bookmark this reply Add hoosierboy to your friends list  Get a Link to this Reply
Morning all,

Everything only has value if someone else wants it. I wish I could get paid for my movements as much as Beethoven did. At least you could physically hold the real thing. The old story that there is one born every minute now should be updated to there is one born every nanosecond.
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Valued Member
United States
92 Posts
Posted 01/26/2022   08:23 am  Show Profile Bookmark this reply Add pbmorris to your friends list  Get a Link to this Reply
NFTs only work for 1 of a kind items. What good is an NFT if 100K plus people have the real thing. If the post office ONLY releases NFT versions from now on, then we are stuck. Won't happen.
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Pillar Of The Community
United States
1229 Posts
Posted 01/26/2022   12:14 pm  Show Profile Bookmark this reply Add Timm to your friends list  Get a Link to this Reply
What was it that P.T. Barnum said?
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