311–320 of 786 posts
NFT's are Bullshit: https://samim.io/p/2021-03-05-non-fungible-tokens-nft-are-bu... In Summary: 1. The NFT doubles down on the worst of copyright, the property metaphor, & tries to impose old ideas of scarcity & exclusion on the digital realm, where both are obsolete. 2.NFTs are an absolute ecological disaster
NFTs make perfect sense for representing a claim on things that can be used, like event tickets or in-game virtual goods. But as certificates layered on top of collectibles... I'm not so sure. With something like CryptoKitties, you can do something with the tokens (play a virtual pet game). But with something like CryptoPunks you're essentially paying for digital beanie babies, which are worse than real ones since an…
> But with something like CryptoPunks you're essentially paying for digital beanie babies, which are worse than real ones since anyone can display and enjoy the image you paid for. It seems like the obvious counterpoint is that perhaps all of these “collectible” scarce physical things which are bought and sold for huge amounts of money (art, coins, relics, etc.) are in fact being used simply as a way to identify a un…
So it's like a DOI?
DOI's can apply internally, so a book can have one, a chapter can have one, paragraph, sentence.
I guess someone will blog the difference at some point
Earlier quoted context omitted.
Neither the content nor the ownership is protected by the NFT. The NFT has literally no connection to the content at all, except that someone said, "Hey, buy this and you own the 'original'!" Except in all things digital, "original" means absolutely nothing. There's a guy who has been selling property on the moon[1]. This is exactly the same thing. 1. https://www.usnews.com/news/articles/2013/03/25/meet-the-man...
People are attempting to create a new world so scary and different to what you know, that it seems insane and completely off base. But we know what we're doing. We know this is leading to the future of a world where artists and fans can take back and redefine ownership. It doesn't matter what you think ownership is. We're redefining it. :) See you on the other side.
Ethereum's Proof of Stake Beacon Chain launched in December 2020 and has worked smoothly since then. The launch was the first of the three phases of ETH2, by the end of which Ethereum will be fully reliant on Proof of Stake - with no dependence on energy mass-consuming Proof of Work - and be massively more scalable.
The author's criticism aside and on the subject of the nascent NFT market, I hope in the future multiple MMORGs recognize NFT sets and allow players to unlock certain digital items, traits or characters by proving ownership over an NFT within that set.
Being able to migrate digital assets across virtual worlds could lead to the emergence of a global cyber culture with universally recognized digital cultural items.
Independent film/animation/interactive studio here- NFT's are a cool new space we are very excited about experimenting in. I usually like Seth Godin's stuff but that blog post feels like an old rich man yelling at a cloud that exists in a dimension he doesn't understand. Doesn't he know all the NFT stuff is going on in Ethereum which is transitioning to POS which mitigates the whole "crypto mining is the death star s…
Ethereum has been "transitioning" to POS for years and it is still using POW. It reminds me a bit of nuclear fusion that is always "30 years away".
Even worse here as he mentions NBA Topshots which is on Flow, PoS and likely uses up less electricity than his blog.
It is odd, I've been involved in the cryptocurrency scene from the beginning, and I've seen the whole "Bitcoin kills Mother Gaia" talking point pop up every couple of years - but I've never seen such prolonged parroting as this last cycle. It is a silly complaint, because it never considers the wastefulness of the status quo. But it is an interesting method of attack, trying to conceal the fact that it is a call for…
That’s a dead easy argument to debunk. If each visa payment used 600kWh like a Bitcoin transaction visa alone would consume 3x as much power as the entire world generates and produce 100% of the worlds ewaste. So no, the status quo is orders of magnitude more efficient on a unit basis by definition.
Bitcoin Cash forks Bitcoin to provide a block size limit that allows these kinds of throughput levels, while Ethereum enables both sophisticated transaction compression methods and layer 2 models, that can achieve Visa-scale throughput without raising layer 1 block sizes.
So attacking the cryptocurrency concept based on Bitcoin's peculiar shortcomings is misguided.
NFTs make perfect sense for representing a claim on things that can be used, like event tickets or in-game virtual goods. But as certificates layered on top of collectibles... I'm not so sure. With something like CryptoKitties, you can do something with the tokens (play a virtual pet game). But with something like CryptoPunks you're essentially paying for digital beanie babies, which are worse than real ones since an…
> NFTs make perfect sense for representing a claim on things that can be used, like event tickets or in-game virtual goods. There’s absolutely no reason for that to be decentralized, only one party can honor the tokens anyways. Like most things crypto they don’t actually make sense for anything.
Why is there no global market place for reselling digital event tickets? Certainly Ticket master and the other retailers could agree on an open standard protocol, pay for a centralized clearing house, and create a digital market place. But they don't. And they don't because it isn't in any of their local interests to maintain such a thing.
This problem, which is fundamentally social and economic in nature, is what is solved by smart contracts. It allows the creation of a public commons, not one that technically couldn't exist, just one that no private actor is ever incentivized to create.