Well I am sure by now you have heard a lot about cryptocurrencies and NFTs and you have probably thought...And why is it affecting the art world?
What Can i buy with this?
How do you sell it if the price goes up?
Where can I buy these coins and digital art?
What is the block chain and why is it important?
Is it really a decentralized currency? how is that even possible?
Well I am here to bring you the uncomfortable truth.
What Can i buy with this?
Well with most crypto currency you have to use the USD to purchase them and in order to buy raw materials, good, services, pay rent, groceries, gas, land a home or anything actually important you can not use crypto currency for.... Unless you live in El Salvador.
So are the cryptocurrency generation really living in magical fairytale land of pretend with their crypto wallets. Well if you are buying something with USD just to get a number on a screen and then convert it back to the same thing you bought it for that is kinda magical...hahahaha
Well... I have always been someone with crazy ideas and I would never speak bad against it but yes you can create your own monopoly world with art and coins....
How do you sell it if the price goes up?
You sell it just like any other digital stock you purchase I recommend the app WeBull. There are also bitcoin ATMs now that you can convert cryptocurrency at...It is very impressive. I would even say that it is probably pretty important to get in that space...Because if you really think the United States government is going to lose control over the USD well please call me and tell me how.
You can also trade cryptocurrency amongst your peers that you had to buy with USD with a crypto wallet.
You can learn more about these wallets at coinbase
Where can I buy these coins and digital art?
Webull you can use to buy crypto currency.
Foundation.app I hear is a solid source for NFTs. You are own though. This is not financial advise and I am not your advisor.
What is the block chain and why is it important?
Blockchain from a software stand points is very important because it traces coins. That means every time you make a purchase of something it is a record of it.... But the information is not really able to be viewed by everyone...
Question: How does mining allow me to get coins then and convert them to money?
I always though that was an interesting feature. To allow users to be able to mine to get currency that they can actually convert....hmmm....? Well I have never done that and maybe if you all know someone that has done that please send them my way.
That feature is very symbolic of how it works to build wealth... you need a whole lot of energy to get some mule sometimes lol
Question: Well Donnavan if everything goes digital wouldn't that mean we would be at the mercy of who ever is controlling the technology? is it really decentralized.
Giving up paper currency means you are giving your power to someone behind a screen... but you do have a digital wallet that you can use... that is also traced and allows for crypto currency exchanges to be done in person.
Is it really a decentralized currency? how is that even possible?
Question: So Donnavan that does not feel decentralized? how do we make it decentralized.
Well you would have to buy land, create roads, housing, farms, shopping centers, network, satellite, cell towers, create your own devices and paper currency and practice open accounting. Open accounting means everyone knows how much money each other has and how they are spending it.
Wow. That does not sound very realistic does it????
Well it is realistic...The technology is there...You just have to find a group of people willing to use the technology and cut out the converting process to USD... people willing to start over... and then you have to create a supply and demand channel based on cost and use of raw materials, goods, services and all of that fun stuff.....
"Art is key here because Art helps people feel a sense of progression...And that's one of the reasons why NFTs are important to the growth of the cryptocurrencies space.... and allows Creators to gain value and users to show appreciation by abiding by copyright uses"
Now go out there and create your own world!!!!! Or you could just join mine and I will do the work for you and we just have FUN FUN FUN.