Crypto Sponsorship for the AFL - and now NFTs

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RUNVS said:
You do know that a lot of people lost everything in the dot com boom don't you?
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Yes.

A lot of people lose money in real estate, share, FOREX, commodities, starting up a new business, etc.

People lose money investing in anything. Not sure what your point is here.

Just like the gold rush, the successful pioneers will make a fortune whilst the ones that don't take appropriate precautions will go bust. The majority of people will join late and make minimal gains because it was too risky early on for them and only jumped on board when it became 'safe'.

People who have no tolerance for risk, or are simply too lazy to do the hard yards to understand what they are doing, have no place in investing in general unless they're happy to minimise their returns via a financial advisor, investment app and such.

If you're happy working 9-5 for someone else's dream and that makes you happy, be my guest.

Not all of us are satisfied with that lot in life though.
 
bzparkes said:
Yes.

A lot of people lose money in real estate, share, FOREX, commodities, starting up a new business, etc.

People lose money investing in anything. Not sure what your point is here.

Just like the gold rush, the successful pioneers will make a fortune whilst the ones that don't take appropriate precautions will go bust. The majority of people will join late and make minimal gains because it was too risky early on for them and only jumped on board when it became 'safe'.

People who have no tolerance for risk, or are simply too lazy to do the hard yards to understand what they are doing, have no place in investing in general unless they're happy to minimise their returns via a financial advisor, investment app and such.

If you're happy working 9-5 for someone else's dream and that makes you happy, be my guest.

Not all of us are satisfied with that lot in life though.
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but your talking about an investment when it is supposed to be currency

which is it?
 

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Power Raid said:
but your talking about an investment when it is supposed to be currency

which is it?
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Both.

I mean, you can buy FIAT currencies as an investment. So are they are currency, or an investment?

They can be both.

Crypto 'currency' is a broad label that only applies to a few. Most projects don't refer to themselves as 'currencies' because they are not.
 
bzparkes said:
It's fine to have an opinion, however you'd be doing yourself a disservice to be so dismissive of the greatest investment opportunity since the dot.com boom
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You mean when companies were grossly overvalued by hype and the US stock market lost 2/3 of its value?

Each to their own but people made money investing in Enron, HIH and ABC Learning too and I wouldn't refer to them as great investment opportunities on the basis that if you bought early enough and sold at the right time you made a killing. I've seen a million resource stocks that people manipulate from cents to dollars to cents that deliver nothing except directors fees.

Like I sad, it's simply a mechanism to buy something for X and sell it for Y to the next guy to sell for Z. That's all it has ever been. I've got time for anyone who owns that.
 
Scotland said:
You mean when companies were grossly overvalued by hype and the US stock market lost 2/3 of its value?

Each to their own but people made money investing in Enron, HIH and ABC Learning too and I wouldn't refer to them as great investment opportunities on the basis that if you bought early enough and sold at the right time you made a killing. I've seen a million resource stocks that people manipulate from cents to dollars to cents that deliver nothing except directors fees.

Like I sad, it's simply a mechanism to buy something for X and sell it for Y to the next guy to sell for Z. That's all it has ever been. I've got time for anyone who owns that.
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That's no different from buying investment properties. You only buy them for X to sell for Y to the next guy also.

Sure, you can earn passive income from them, just like you can from dividend shares and staking/yield farming in crypto. It's just an alternate opportunity, without the hassle of fees, additional taxes, lawyers, agents and so forth.
 
bzparkes said:
I mean, you can buy FIAT currencies as an investment. So are they are currency, or an investment?
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I think this is the bit a few are disputing.

A capital investment is just that - you buy a stake in something that you believe will generate wealth: a machine, a factory, useful materials, part of a company, licence to use and distribute software, etc. The investment goes toward wealth creation. The investment costs you but you hope it has has inherent value that will be realised at some point. And this wealth creation, be it real or potential, is what makes said capital investment attractive.

Trading currencies, like USD, AUD etc is not investing in the sense that the currency will generate any wealth. We like money because it can be used to buy things we want and we can have confidence in its purchasing power ( at least in the short term, and for strong currencies). Now you can make money trading them, but that's more speculation on price movements.

Blockchain and related technology has the potential (already is actually) to generate wealth. So buying a stake in companies that do this well, is 100% investing and probably a good one at that too.

The digital currencies themselves are a bit of a different matter. Owning them doesn't give you a stake in wealth creation, but you can (increasingly) buy stuff with them. But they are still a flaky form of currency at the moment. And if the technology proves to be superior in the future, will governments not issue their own digital currencies, and give out welfare and demand taxes in that?

Alternative currencies have come and gone throughout history, you don't need computers to create an alternative currency. At some point, they become worthless because people didn't have confidence in their ability to act as a currency.

I wonder how things like cryptos will be different. Is the expectation that several major States will fail, rendering their currency useless? Or will one of the cryptos (which one though, and why?) essentially take the place of gold? Remember, if you are stuck with a lump of gold it can always be used to create wealth, but with cryptos I have a doubt.

The endgame is interesting, will the world move to non State issued currencies as the preferred medium of exchange? A lot of upheaval would have to happen for that, but who knows?
 
The Adelaide Football Club has partnered with the world’s fastest-growing cryptocurrency platform, with a multi-year agreement encompassing the men’s and women’s teams.

The company's logo will appear on the back of the home and clash guernseys, while the agreement will bring to life other engagement initiatives.

The Crows are the first Australian sporting club to partner with the company and follow some of the world’s biggest sports and entertainment brands, including Formula 1, UFC, Paris Saint-Germain Football Club, Philadelphia 76ers, Los Angeles Lakers, Montreal Canadiens, Los Angeles Kings, esports team Fnatic, Lega Serie A and Twitch Rivals.

The AEG-owned and operated Staples Center in Los Angeles has also been renamed with teh company's name, while most recently the AFL entered into a five-year agreement with the leading cryptocurrency platform.

The company "has aligned with some of the highest profile sporting teams and organisations around the world, and to be part of that family is significant,” said Adelaide Football Club CEO Tim Silvers.

“Innovation is at the core of [the company] and there will be many opportunities for us to work together.

“Cryptocurrency and blockchain technology are evolving rapidly and while it is still early days in Australia, we are excited to work with a global leader in the company over the journey to bring new opportunities to fans and members.”

Founded in 2016, the company is accelerating the world’s transition to cryptocurrency, serving more than 10 million customers globally and built on a foundation of security, privacy and compliance.

“Partnering with the Adelaide Crows takes our commitment to Australian sports a step further by cementing our position as a leader in the Australian market,” said the company General Manager Asia & Pacific, Karl Mohan.

“The Crows are the pride of South Australia with over 30 years in existence and they have the most successful team in the AFLW competition, being the only club to have won multiple premierships.

“Their vision of ‘bringing people together to achieve great things’ is what resonates the most with our brand attributes and we look forward to supporting a team that not only has deep-rooted history but has also been a champion of women’s sport.”
 
Chief said:
The Adelaide Football Club has partnered with the world’s fastest-growing cryptocurrency platform, with a multi-year agreement encompassing the men’s and women’s teams.

The company's logo will appear on the back of the home and clash guernseys, while the agreement will bring to life other engagement initiatives.

The Crows are the first Australian sporting club to partner with the company and follow some of the world’s biggest sports and entertainment brands, including Formula 1, UFC, Paris Saint-Germain Football Club, Philadelphia 76ers, Los Angeles Lakers, Montreal Canadiens, Los Angeles Kings, esports team Fnatic, Lega Serie A and Twitch Rivals.

The AEG-owned and operated Staples Center in Los Angeles has also been renamed with teh company's name, while most recently the AFL entered into a five-year agreement with the leading cryptocurrency platform.

The company "has aligned with some of the highest profile sporting teams and organisations around the world, and to be part of that family is significant,” said Adelaide Football Club CEO Tim Silvers.

“Innovation is at the core of [the company] and there will be many opportunities for us to work together.

“Cryptocurrency and blockchain technology are evolving rapidly and while it is still early days in Australia, we are excited to work with a global leader in the company over the journey to bring new opportunities to fans and members.”

Founded in 2016, the company is accelerating the world’s transition to cryptocurrency, serving more than 10 million customers globally and built on a foundation of security, privacy and compliance.

“Partnering with the Adelaide Crows takes our commitment to Australian sports a step further by cementing our position as a leader in the Australian market,” said the company General Manager Asia & Pacific, Karl Mohan.

“The Crows are the pride of South Australia with over 30 years in existence and they have the most successful team in the AFLW competition, being the only club to have won multiple premierships.

“Their vision of ‘bringing people together to achieve great things’ is what resonates the most with our brand attributes and we look forward to supporting a team that not only has deep-rooted history but has also been a champion of women’s sport.”
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How appropriate that the club that brought us 3rd degree burnt feet courtesy of convince-yourself-it-is-harmless fire-walking is being sponsored by the cult of crypto coins. 😁
 

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A lot of spending on advertisement.

I'm sure that's a good thing and not a sign of a need for extremely fast growth to offset losses

On SM-A515F using BigFooty.com mobile app
 
Power Raid said:
I'm not sure why crypto is allowed to call itself currency

currency should be a defined word that does not include investments
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It is called a currency because you can literally use it as a legal tender
 
Power Raid said:
Some crypto is real and will survive but for the rest, are they a pyramid scheme or Ponzi scheme? I'm thinking Ponzi
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Or are they just products/services that went to the market but couldn't get established enough to survive.

Surely you know how many small businesses open up compared to how many actually survive yeah?
 
bl4ke said:
It is called a currency because you can literally use it as a legal tender
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That's not what legal tender is. Currency and Legal Tender are two different things.

Legal tender by definition has to be accepted for payment of a debt. I, a shop, the government, a bank, do not have to accept cryptocurrency to settle debts. They do have to accept Australian legal tender though.

AFAIK only one crypto is legal tender, and that is only in El Salvador.
 
kickazz said:
That's not what legal tender is. Currency and Legal Tender are two different things.

Legal tender by definition has to be accepted for payment of a debt. I, a shop, the government, a bank, do not have to accept cryptocurrency to settle debts. They do have to accept Australian legal tender though.

AFAIK only one crypto is legal tender, and that is only in El Salvador.
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Actually a business can choose not to accept paper or coin money if they choose.

So you don't have to accept legal tender anymore if your business doesn't accept it.

Just like some business won't accept card and only cash.
 
kickazz said:
That's not what legal tender is. Currency and Legal Tender are two different things.

Legal tender by definition has to be accepted for payment of a debt. I, a shop, the government, a bank, do not have to accept cryptocurrency to settle debts. They do have to accept Australian legal tender though.

AFAIK only one crypto is legal tender, and that is only in El Salvador.
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I've been to countless cafe's during COVID that have denied people using physical legal tender as payment. Do they HAVE to accept it?

There are over 15 000 companies in the world accepting Bitcoin as payment
 
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