Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

WallStreetBets members adopt 3,500 gorillas in six days

bbc.co.uk

Post reply on HN
Print view View original

131–140 of 321 posts

Re: WallStreetBets members adopt 3,500 gorillas in six days

#131

Post by nradov »

vmception wrote: post #95
pas wrote: post #78

Earlier quoted context omitted.

The estimated energy consumption of BTC is between the electricity consumption of Ukraine and Argentina. It's as if everyone would be a banker in Ukraine and every building would be a bank. Seems excessive.

And how many countries of energy does the other financial system use, for comparison?

That wouldn't be a valid comparison. There's a lot more to the other financial system than just currency and payments. Even if hypothetically the whole world adopted Bitcoin we would still need most parts of the other financial system.

Re: WallStreetBets members adopt 3,500 gorillas in six days

#133

Post by groby_b »

tarsinge wrote: post #84
edoloughlin wrote: post #53

Earlier quoted context omitted.

Can someone get busy wrapping endangered species as NFT's and direct the funds accordingly' Can't help but wonder how much habitat is destroyed by the generation of a token.

Not that much compared to other direct or indirect causes.

Uh... Selling a single token? 8.7MWh[1]

That's slightly less than the average US household consumes in a year.

[1] https://www.wired.com/story/nfts-hot-effect-earth-climate/

Re: WallStreetBets members adopt 3,500 gorillas in six days

#134

Post by colejohnson66 »

scotty79 wrote: post #92
tudorw wrote: post #48

Earlier quoted context omitted.

Can someone get busy wrapping endangered species as NFT's and direct the funds accordingly, timing seems about right...

NFT doesen't work like that. After minting it has nothing to do with the initial cause. It could work if they released and auctioned new NFT for each gorilla periodically.

But the person who the money/etherium is sent to could be the charity, no? As in, people donate their digital art or whatever to a charity and the charity auctions off the NFTs to raise money.

That’s the way real life charity fundraisers sometimes work: you donate a physical object and they sell it to raise money. The benefit over you selling at and donating the money is that you don’t have to deal with selling it. The usage of NFTs here would be to take advantage of the mass hysteria(?) surrounding them to drum up the price.

Re: WallStreetBets members adopt 3,500 gorillas in six days

#135

Post by hanniabu »

scotty79 wrote: post #92
tudorw wrote: post #48

Earlier quoted context omitted.

Can someone get busy wrapping endangered species as NFT's and direct the funds accordingly, timing seems about right...

NFT doesen't work like that. After minting it has nothing to do with the initial cause. It could work if they released and auctioned new NFT for each gorilla periodically.

Yeah, yearly support tokens for each gorilla

Re: WallStreetBets members adopt 3,500 gorillas in six days

#136

Post by IgorPartola »

groby_b wrote: post #133
tarsinge wrote: post #84

Earlier quoted context omitted.

Not that much compared to other direct or indirect causes.

Uh... Selling a single token? 8.7MWh[1] That's slightly less than the average US household consumes in a year. [1] https://www.wired.com/story/nfts-hot-effect-earth-climate/

Has there been any movement in the crypto world (that isn’t just creating new coins) towards switching algorithms such that BTC et al don’t use proof of work anymore?

Re: WallStreetBets members adopt 3,500 gorillas in six days

#137

Post by hanniabu »

epanchin wrote: post #51
tudorw wrote: post #48

Earlier quoted context omitted.

Can someone get busy wrapping endangered species as NFT's and direct the funds accordingly, timing seems about right...

A token that needed a regular transfer of funds to retain ownership would be really quite neat. A contract that showed I am the adoptee of Harry the gorilla, and provides a regular income for the charity. If I can’t keep up the payment I sell the token. Fail to pay or sell the token and it reverts to the charity issuer.

There's streaming (https://sablier.finance/), I'm sure this could be used. Although I'm not sure how it would be used in the NFT aspect. Maybe they could be used for gaming mechanism. "Upgrade your gorilla to a larger environment!" "Unlock a new toy!"

Re: WallStreetBets members adopt 3,500 gorillas in six days

#138

Post by vidarh »

scotty79 wrote: post #92
tudorw wrote: post #48

Earlier quoted context omitted.

Can someone get busy wrapping endangered species as NFT's and direct the funds accordingly, timing seems about right...

NFT doesen't work like that. After minting it has nothing to do with the initial cause. It could work if they released and auctioned new NFT for each gorilla periodically.

You "just" need to tie each NFT to a specific gorilla and raise enough to find someone willing to sell an annuity tied to the expected lifespan of said gorilla.

Or just raise enough for the average investment returns from the one-off sales to fund the charity.

Re: WallStreetBets members adopt 3,500 gorillas in six days

#139

Post by colejohnson66 »

ilikehurdles wrote: post #116
tudorw wrote: post #57

Earlier quoted context omitted.

Yes, but I cannot buy, sell and speculate with that.

Well you can put the tweet up for sale or auction on eBay. Just like with NFTs, you wouldn’t actually be transferring the underlying asset, nor would the tweet actually be hosted within eBay (or an NFT chain) for some kind of archival purpose, nothing stops you from selling it again on Amazon or Craigslist or any other marketplace (or another NFT). If Amazon, EBay, or the company behind the NFT decides to close up sh…

Yep. Take a look at Jack Dorsey. He’s “selling” the first ever tweet as an NFT and it’s currently at 2.5 million dollars.[0][1] But what does that even mean to “sell” a tweet? It’s still visible to everyone at its permanent URL.[2] What’s stopping Jack from just auctioning it off again later?

[0]: https://www.cnet.com/news/twitter-ceo-jack-dorsey-is-selling...

[1]: https://v.cent.co/tweet/20

[2]: https://twitter.com/jack/status/20

Re: WallStreetBets members adopt 3,500 gorillas in six days

#140

Post by beervirus »

TeMPOraL wrote: post #62
leg100 wrote: post #16

“But we all know the wag’s definition of a philanthropist: a man whose charity increases directly as the square of the distance.” ― George Eliot, Middlemarch

Well, if the evil side can exploit this phenomenon to great success (e.g. drone strikes allowing to kill people halfway across the world, and making it feel like playing a video game from 1990s), why can't the good side? We can despair about the nature of man all we want, but if in the meantime, we can get rich people here to spend a lot of money on helping people far away, that's still a huge net benefit for the wor…

Is it really evil to use drones to kill evil people?
Post reply on HN