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NFTs Are a Dangerous Trap

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Re: NFTs Are a Dangerous Trap

#761

Post by snarf21 »

Bayart wrote: post #740
snarf21 wrote: post #489

Earlier quoted context omitted.

NFTs are nonsense and just as much a pyramid scheme as everything else crypto. People will get left holding the bag at the top just like with CryptoKitties. I have several hand painted reproductions of famous paintings (impressionist). I get just as much enjoyment looking at them on my wall as I have at the museums looking at the real ones. I don't need to have $100M. I'm glad that content creators are getting paid n…

What's nonsense is dismissing the idea and the work that's been done because there are people looking for a cash grab. Following from that logic, you should throw your routeur in the garbage dump. After all, the early days of the Internet were filled with shady companies selling buzzwords. So the Internet is by essence trash, right ? NFTs are revolutionary for digital assets and allow for something beyond the world o…

I think you have my comments out of context but to each their own. Do you believe in NFTs enough to put your entire net worth in them? I don't see this current pump and dump ending any better than CryptoKitties but I guess time will tell for sure.

Re: NFTs Are a Dangerous Trap

#762

Post by chaostheory »

arcticbull wrote: post #129
chaostheory wrote: post #27

Earlier quoted context omitted.

Isn’t his argument moot due to ethereum’s eventual transition to proof of stake

I’m sure Vitalik will deliver we just have to wait (skeleton meme). That is to say I’ll believe it when I see it.

What hasn't he delivered on? Does he have any track record of delivering what's been promised? If I recall correctly, proof of stake already started to roll out this year.

Re: NFTs Are a Dangerous Trap

#763

Post by gonehome »

ThomPete wrote: post #759
gonehome wrote: post #753

Earlier quoted context omitted.

Arguably in app purchases have already corrupted a lot of the game space into slot machines. Tokens take that a step further and make it worse. Incentives create the world. On one side you have Apple Arcade trying to align incentives for a better global outcome/end state. On the other you have in-app purchases, loot boxes, and NFTs - trying to maximize profit for the house.

again you cant take the human minds tendency to attach value to things in their life and to operate in hierarchies. NFTs were inevitable as tokens of value because they function as physical objects. You can say thats a scam but all ypu are saying is that you dont yet attach value to NFTs. Anecdotes are not the way to validate your claim though.

They don’t function as physical objects though, people just pretend they do - that’s the scam part.

Re: NFTs Are a Dangerous Trap

#764

Post by hnick »

arcticbull wrote: post #119
jamesgreenleaf wrote: post #37

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.

It serves the token holder if said party just declares the ticket or other item a forgery or otherwise invalid, and doesn't let you in the venue or locks your account. It also serves the holder if they want a safe secondary market to resell or trade tokens.

So basically, decentralisation doesn't serve the vendor, only the consumer.

Re: NFTs Are a Dangerous Trap

#765

Post by nikisweeting »

echelon wrote: post #726
nikisweeting wrote: post #722

Earlier quoted context omitted.

The incentive is that the players care about it, and players will actively choose games that respect their avatar/NFT ownership because it allows them to show off their prized avatar and share their persona with a larger audience.

Okay, but that doesn't mean companies will have economic incentive to support decentralization. Games don't honor any fiat currency or stocks I hold, any unlocks I made on other platforms, or my Reddit upvotes. This is going to go nowhere.

Game platforms have been providing cross-game "unlocks" / achievements for years, and they're only moving more towards that (this is one of the whole reasons for Epic, Riot, etc. shipping their own launchers, it gives them a runtime on the client where they can securely share state between games).

It's going to be huge for VR in particular:

- https://www.roadtovr.com/getting-social-oculus-unifying-mult...

- https://ieeexplore.ieee.org/document/8845288

Re: NFTs Are a Dangerous Trap

#766

Post by soulofmischief »

smt88 wrote: post #462
soulofmischief wrote: post #192

Earlier quoted context omitted.

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.

There is no substance to your reply, so I can't even refute it. It sounds like something copy/pasted from a crypto startup's landing page.

I'm just being terse. Happy to expand but it seems the sentiment is not well received here.

Re: NFTs Are a Dangerous Trap

#767

Post by ThomPete »

gonehome wrote: post #763
ThomPete wrote: post #759

Earlier quoted context omitted.

again you cant take the human minds tendency to attach value to things in their life and to operate in hierarchies. NFTs were inevitable as tokens of value because they function as physical objects. You can say thats a scam but all ypu are saying is that you dont yet attach value to NFTs. Anecdotes are not the way to validate your claim though.

They don’t function as physical objects though, people just pretend they do - that’s the scam part.

That's not the right premise for the discussion.

A stone is a physical object, some stones are worth more than others.

You can call the fact that humans apply value to thing a scam but that would give you a suboptimal understanding of the world.

Re: NFTs Are a Dangerous Trap

#768

Post by [deleted] »

ThomPete wrote: post #767
gonehome wrote: post #763

Earlier quoted context omitted.

They don’t function as physical objects though, people just pretend they do - that’s the scam part.

That's not the right premise for the discussion. A stone is a physical object, some stones are worth more than others. You can call the fact that humans apply value to thing a scam but that would give you a suboptimal understanding of the world.

[deleted]

Re: NFTs Are a Dangerous Trap

#769

Post by okareaman »

Can_Not wrote: post #718
okareaman wrote: post #625

Earlier quoted context omitted.

I feel your take is the correct one. I'm old enough to remember when home video recorders were criticized because porn, but porn was just the kick off to the wider world of video uses and purposes.

That comparison is really the opposite, the open question on the morality of porn does nothing to damage the usefulness of home video recorders. On the other hand, the morality of NFT's is already mainstream while the usefulness is an open question that's leaning toward "not really".

At the time, people were buying video players and recorders just to watch porn because people hadn't figured out and weren't in the habit of time shifting their video viewing. Porn was really the only thing they seemed good for. That was my point.
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