161–170 of 786 posts
NFTs, the new way to spin a copyright or incorporate into DRMs, but since it pumps and is bullish for crypto, all cool kids are lovin it.
This is a complete misunderstanding of what an NFT does. The content isn't protected by the NFT, ownership is.
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lol, you seem to be forgetting every other system related to and directly supporting payment networks, clearinghouses, etc... oh, and all the regulatory frameworks. And the FED :)
I’m not. I’m saying by scaling just one small corner to bitcoins inefficiency it cannot be true as it would use 3x the worlds power supply. It cannot be true by induction. If we scaled those aspects up too we’d be taking hundreds or thousands of times more power than the world generates. By doing that id actually be making my argument stronger.
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One random idea I had was to use cryptomining to “soak up” excess power: so, for example, you could build nuclear out to meet peak load and then set up mining rigs to use the difference between peak and the current load, subsidizing the cost of power production. It’s probably a bad idea for other reasons, but it’s one way to reduce the environmental impact of PoW
You can reduce the energy output of a nuclear reactor both through the moderation of the fission reaction (via control rods, coolant temperature variation, neutron poisoning, etc), and through moderation of the electrical generator turbine (slowing down the turbine speed, venting steam, etc). There is no such thing as "excess power" for crytomining. Even if there was then that energy could just be stored using batter…
I was thinking the idea seemed to have some validity.. For ex: storage of solar/wind-powered is critical and the current inefficiencies and batteries rely on lithium and alternatives are still in research.(http://worrydream.com/ClimateChange/#moving-storage) ..
so in theory there's a system that can be built around the excess energy(of renewable systems) + crypto mining as a incentive for taking up renewable energy setups.(Of course this cannot convert the mined stuff back to energy so it's a one-way stuff at best and has it's own cons and pros).
NFT: non-fungible token. https://en.wikipedia.org/wiki/Non-fungible_token Expand your acronyms, peeps.
People are paying millions of dollars for artwork that doesn't exist.
The bid for Jack Dorsey's "first tweet" is over two million dollars. (What does that even mean?!)
Sure, I suppose you could link ownership of intellectual property or actual goods to NFTs, but what's the benefit? Who enforces it? And what happens when crypto is broken and people can't prove they owned the private keys?
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One random idea I had was to use cryptomining to “soak up” excess power: so, for example, you could build nuclear out to meet peak load and then set up mining rigs to use the difference between peak and the current load, subsidizing the cost of power production. It’s probably a bad idea for other reasons, but it’s one way to reduce the environmental impact of PoW
You can reduce the energy output of a nuclear reactor both through the moderation of the fission reaction (via control rods, coolant temperature variation, neutron poisoning, etc), and through moderation of the electrical generator turbine (slowing down the turbine speed, venting steam, etc). There is no such thing as "excess power" for crytomining. Even if there was then that energy could just be stored using batter…
The author claims it’s easier to mint an NFT than a currency...for all intents and purposes it’s no different to mint a erc20 token vs erc721, so the we shouldn’t pretend NFTs are somehow the lowest common denominator while “alternative currencies” are inherently complex. A shit coin is a shit going whether it represents a digital image or nothing at all other than a store of value people collectively agree on.
What everyone ignores is that not all NFTs can be described as representing a jpeg (the digital baseball card). sure many are that, but others actually include a transfer of the intellectual property they represent. Others have a “public” representation but have embedded files accessible only to the owner. Others represent ownership of digital items that can be used in various DApps across the ethereum blockchain.
And even assuming all NFTs were just digital baseball cards, if baseball cards were your thing, then I think you could acknowledge how valuable it is to be able to trace every baseball card that exists and otherwise be connected to a marketplace that include the ability to buy/trade/sell directly with other persons without a centralized authority regulating those transactions.
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This isn’t necessarily true: if the subsidies spread clean power generation then the percentage of miners that have bad environmental impacts will decrease over time. Also, since this would make relatively clean power sources cheaper, it would help phase out fossil generation capacity.
They're not "subsidies", they're just profits earned from selling what was mined, nothing useful happened, it simply makes the blockchain needlessly more expensive for everyone because a nuclear power plant is dumping hashing power into the network. Green energy doesn't change the fundamental nature of PoW, it inevitably expands to consume all available energy because the more energy you can burn the more money you c…
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lol, you seem to be forgetting every other system related to and directly supporting payment networks, clearinghouses, etc... oh, and all the regulatory frameworks. And the FED :)
I’m not. I’m saying by scaling just one small corner to bitcoins inefficiency it cannot be true as it would use 3x the worlds power supply. It cannot be true by induction. If we scaled those aspects up too we’d be taking hundreds or thousands of times more power than the world generates. By doing that id actually be making my argument stronger.
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Bikes have unique serial numbers. https://bikeindex.org runs a free website to let you lookup serial numbers and mark them as stolen, and there's also various other regional websites that do a similar sort of thing. If you want to buy a bike, make sure it has a serial number (and if the number was filed off, then yes it was probably stolen), and look it up on the index. How would an NFT be better than the above datab…
> How would an NFT be better than the above database in any way? It wouldn't depend on the benevolence of a third-party absorbing the cost of running the index. It would be geographically and culturally agnostic. Zoom out here and notice how little of the World's population is involved: https://map.bikewise.org/#0/84/-77 It would be globally unique and would not require the cooperation of manufacturers. Neither of my…
And it would still require a third party to benevolently run an app to search and make sense of the data from the ledger, and also to verify that the data inserted was actually real and not poisoning the db.
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Or, there’s an idea, just generate a random string, bundle it with the artwork and sign the whole damn thing using good old RSA. Achieves the exact same goal, uses a fraction of energy and no fancy tech.
Uh...no? These can trivially be copied (double spent), which means they're just as scarce as any digital data. Valueless without some significant proof of violence and hyper censorship ability enforcing copyright protection. The primary revolution of bitcoin was the invention of self enforcing digital scarcity.