I understand what a “share of a company” (stock) means. And I understand what an “ounce of silver” means. But I am lost as to what that excerpt was talking about.
That’s why I’m avoiding crypto.
And that’s why I’ll never be rich.
I guess.
NFTs are really weird. A certificate that says you own the original digital image of something (even if that original doesn't really exist).
Someone creates an image. Then it's copied all over the internet. You get an NFT from the creator saying that you "own" the original, like an original painting.
Doesn't give you copyright ownership. Doesn't give you anything original to hang on your wall.
As far as I can see, NFTs only get you two things:
1. Bragging rights (i.e, showing off that you have so much money, you can burn a bundle and not miss it).
2. Money laundering opportunity, as you buy and resell it at fake valuations.
And I still don't understand stock derivatives. When they were explained to me in the 1990s, it sounded like pure gambling.