Crypto Sponsorship for the AFL - and now NFTs

[Chief]

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[melbournemartin]

Bitcoin went from $49,000 to $43,000 in one week a few weeks ago.

You do realise that stocks can also drop 15% in a week?

 

[RUNVS]

Why is this suddenly an issue now, yet it wasn't an issue last year when the Bulldogs had a partnership with Coinspot, and there were other crypto exchanges advertising at grounds?

Crypto is here to stay and will only get bigger. Any one who thinks otherwise is in for a shock.

No one notices anything the Bulldogs do.

 

[Blue and Silver]

Here's a nice test against confirmation bias, under what conditions would you accept that you were wrong?

I will admit cryptocurrency is a legitimate technological innovation when it becomes a commonplace method of transaction.

When would people who are fans of the technology admit that it has not worked?

 

[bzparkes]

Here's a nice test against confirmation bias, under what conditions would you accept that you were wrong?

I will admit cryptocurrency is a legitimate technological innovation when it becomes a commonplace method of transaction.

When would people who are fans of the technology admit that it has not worked?

If it's no longer relevant.

The trading part of crypto, whilst being the most famous part, isn't actually the biggest objective of most projects. Yes, they want to run as a profitable entity however if you actually research into what Ethereum is aiming to achieve for instance, you'll probably understand that there's a much bigger vision behind crypto than getting rich from magic internet money.

 

[happy_eagle]

If you invested $100 a month into Bitcoin since 2021, you'd have just under $1 million USD right now.

Is there a source on this ?

 

[kickazz]

I'm a supporter of crypto and blockchain tech. There's actual real use cases for crypto/web3 in the real world - and I'm not just talking about NFTs and the metaverse. Look at DeFi and its potential in decentralised lending, collateralisation, smart asset management, flash loans, decentralised identity etc. We aren't talking about a pie in the sky anymore.

Having said all that... just as I'm opposed to mass marketing of gambling ads, I also am pretty opposed to mass marketing of platforms that trade speculative assets.

Does owning cryptocurrency give you an actual stake in any of that though?

 

[bzparkes]

Is there a source on this ?

Yeah I find where I posted the video. It was a couple of months ago. Gimme a bit, playing some games RN.

 

[kickazz]

Is there a source on this ?

Probably means 2012, not 2021.

There's only been one month (not even) since 2021. Hard to turn 100 into a million in that time.

 

[Rod Stroker]

Here's a nice test against confirmation bias, under what conditions would you accept that you were wrong?

I will admit cryptocurrency is a legitimate technological innovation when it becomes a commonplace method of transaction.

When would people who are fans of the technology admit that it has not worked?

If it hasn't worked then why are governments banning it in some countries (because they don't have the ability to control it) or taxing it (to make money off it)?

 

[Rod Stroker]

No one notices anything the Bulldogs do.

They were certainly noticed around 5PM AEST on the last Saturday in September in 2016, courtesy of a lop sided free kick count.

 

[bzparkes]

Does owning cryptocurrency give you an actual stake in any of that though?

Ethereum is probably the biggest project for this right now. Eth 2.0 was offering up to 16%pa returns but you need a significant investment and be prepared to tie it up for a long time. Stablecoins are always good to stake though. Can get up to around 10%pa returns and they follow FIAT currency so you don't have to worry about market dumps at all.

 

[bzparkes]

Probably means 2012, not 2021.

There's only been one month (not even) since 2021. Hard to turn 100 into a million in that time.

Oh s**t, I certainly did. Didn't notice I got them the wrong way around ffs.

 

[RUNVS]

If it hasn't worked then why are governments banning it in some countries (because they don't have the ability to control it) or taxing it (to make money off it)?

because it is often used in very illegal activities and a lot of governments are not a fan of drug and human trafficing.

 

[bzparkes]

because it is often used in very illegal activities and a lot of governments are not a fan of drug and human trafficing.

You know which countries are banning it right? China and Russia.

You might want to reconsider this comment...

 

[happy_eagle]

Oh sh*t, I certainly did. Didn't notice I got them the wrong way around ffs.

Thought something was off, because I had put about a similar amount into crypto in 2021
Wheres my millions

 

[kickazz]

because it is often used in very illegal activities and a lot of governments are not a fan of drug and human trafficing.

That's not the real reason, at the best of times governments don't like you taking lots of cash out of the country

 

[RUNVS]

That's not the real reason, at the best of times governments don't like you taking lots of cash out of the country

Funny that, given governments survive on tax.

 

[bzparkes]

Thought something was off, because I had put about a similar amount into crypto in 2021
Wheres my millions

I'd be asking the question myself also haha.

 

[Chief]

Bitcoin was over $49,000 a few weeks ago and now it has just gone under $39,000. That is basically a 20% decrease in a matter of weeks.

Bad as the $aussie.

 

[Scotland]

Bitcoin was over $49,000 a few weeks ago and now it has just gone under $39,000. That is basically a 20% decrease in a matter of weeks.

Tell that to the people that bought them for $1.

 

[joy division]

Looking at Cryptocurrency from a trading standpoint is as ignorant and naive as dismissing a company because they're listed on the ASX. Bitcoin is not what cryptocurrency is about and is the equivalent of a Ford Model T in the car world.

 

[Scotland]

Looking at Cryptocurrency from a trading standpoint is as ignorant and naive as dismissing a company because they're listed on the ASX. Bitcoin is not what cryptocurrency is about and is the equivalent of a Ford Model T in the car world.

Without BTC the whole house of cards falls down.

 

[Rod Stroker]

The level of ignorance in this thread is astonishing, but unsurprising

 

[WillHayward]

Is it any different from gambling sponsorship?

Yeah which is also s**t .

At what stage did we all get brainwashed into believing that commercialising everything to nth degree was "normal".

At some stage in the 80s and 90s we all got to believe that full blown capitalism was "fun" and good for everyone.

It's bullshit.

The AFL should be the custodian of the game with the game as paramount. It's nobodies business to "own".

Instead they are temporary leaches who use the history and culture of the game to line their pockets and then claim they are great capitalists.

 

[WillHayward]

Looking at Cryptocurrency from a trading standpoint is as ignorant and naive as dismissing a company because they're listed on the ASX. Bitcoin is not what cryptocurrency is about and is the equivalent of a Ford Model T in the car world.

Bitcoin is not a cryptocurrency.