Shortly after OLGA was discovered, this fact was added to the Wikipedia NFT article. The exact text was; A single-unit coin was minted with the name OLGA and the description “One & Only”. It was minted at the following time 2014-06 12T19:19:02:107 GMT. This is the first true NFT ever minted. Sources backing up the claim were also included. Believe it or not, all references to OLGA are now removed […]
Etheria made a spreadsheet of the first NFTs and NFT-like experiments. OLGA is listed as #3 but I am confident it’s actually the first true NFT. Here’s @etheria_feed’s tweet: The first candidate is a Counterparty asset called THING. I don’t think it belongs on this list. It was registered with a quantity of 1,000,000,000 tokens. It does not have a description nor any pointer to artwork. In 2021 all but […]
This is a follow-up to my post where I argued that Kevin McCoy’s pre-NFT experiment, however brilliant, was not a real NFT. More information has surfaced which proves my point. It took me a while to verify this claim. The artwork was originally recorded on the Namecoin blockchain but there are not that many Namecoin explorers out there. They are not easy to make sense of either. I did eventually […]
Kevin McCoy’s 2014 art piece Quantum was sold at Sotheby’s for $1,420,000 – presumably as the first NFT ever minted. I do not agree it’s the first NFT. I see several reasons why: It was a name record, not a token, hence not a Non-Fungible Token. It got destroyed. It is forever lost. The auctioned token is a replica, not the original. Before I emphasize my points, here’s the background. […]
I found a website with economic charts from 1971 until today. The site is simply called wtfhappenedin1971.com. It’s a collection of interesting economic graphs showing the demise of the US (and the West) since that particular year. In case you’re not familiar with the context, watch President Nixon ending the Gold Standard in August of 1971: P.S. Wtfhappenedin1971 is by a bitcoin company called RiverFinancial. I do not know who […]
Are all DeFi tokens listed on Ethereum? I went through the top 100 projects under Coinmarketcap’s DeFi tab and clicked on each one to find their respective platforms. 10 do not have a platform listed. Most likely they have their own chain. 77 are on Ethereum 34 of these are exclusively on Ethereum 36 are on the Binance Smart Chain 9 of these are exclusively on Binance 20 are on […]
The electric vehicle producer Daymak Avvenire promises bitcoin mining in their upcoming Spiritus Deluxe model. Delivery is estimated for 2023 but you can pre-order it already now. Their campaign states: The Daymak Spiritus will be the first electric car in history to mine cryptocurrency while it is parked, including Bitcoin, Doge, Ethereum, Cardano, and more. This makes no sense! Cardano is not mineable. It uses proof of stake. You need […]
Let’s entertain the idea of becoming a billionaire through investing. How much risk will you need to take? How much capital should you have initially? I will explore two radically different approaches: Compound interest, i.e. above average return year after year Warren Buffet style. Multiple 10x returns without blowing up. Einstein called compound interest the eighth wonder of the world. Even if you achieve a modest 10% annual return over […]
Bitcoin has been a rather good investment. Everyone knows that. But how does it compare to alternative cryptos? Some, like Ether and Doge, have outperformed Bitcoin. But many more have tanked. Do you remember coins like Peercoin, BitShares, the DAO? Let’s compare these two strategies: “BTC” – As a true Bitcoin Maximalist, you hold BTC only! “TOP TEN” – Buy the top 10 coins from Coinmarketcap, 10% each. I’ll test […]
I did a little bit of research on inflation. Here are my notes. What triggers hyperinflation, quote Wikipedia: Hyperinflation is often associated with some stress to the government budget, such as wars or their aftermath, sociopolitical upheavals, a collapse in aggregate supply or one in export prices, or other crises that make it difficult for the government to collect tax revenue. May the pandemic, with its frequent lockdowns and exuberant […]