An NFT That Saves Lives • Hacker News Board

Re: An NFT That Saves Lives

#21

Post by Diederich » Tue, May 04, 2021, 4:01 PM UTC

hoppyhoppy2 wrote: post #6

Has Mr. Graham done an honest calculation of how many lives will be lost to the environmental impacts of NFTs if they become mainstream?

Is Ethereum anything like bitcoin in terms of power utilization/environmental impact?

Re: An NFT That Saves Lives

#22

Post by psswrd12345 » Tue, May 04, 2021, 4:02 PM UTC

Amazing how short sighted HN is when it comes to NFTs. Blindly accepting the "bad for climate" tripe and showing utter ignorance to the upcoming transition away from energy guzzling proof-of-work to a proof-of-stake world. Sad to see this community act so willfully ignorant to all things crypto.

Re: An NFT That Saves Lives

#23

Post by eloff » Tue, May 04, 2021, 4:02 PM UTC

spamalot159 wrote: post #10

fallat wrote: post #5

I don't think anyone understands that this is purely a "fun" thing to raise money. Yes, it's exactly like a donation drive.

Except for that it uses technology that harms the environment. I don't think this trend is "fun" compared to a normal donation drive when it has these negative side effects.

The environmental harm of a single ethereum transaction is very low. Lower than a fundraising dinner. Please take your nitpicking elsewhere.

They're literally aiming at saving thousands of lives and the comments are all focused on how bad NFTs are. Give me a break, talk about missing the point.

Re: An NFT That Saves Lives

#24

Post by endisneigh » Tue, May 04, 2021, 4:03 PM UTC

I don't get it. A non-profit is inherently a centralized entity. What's the point of using a blockchain in this scenario?

Re: An NFT That Saves Lives

#25

Post by nrmitchi » Tue, May 04, 2021, 4:03 PM UTC

I'm not sure why this is an NFT other than trying to capitalize on the current craze. NFT or not, a charity should still "issue a public report tracking how this specific tranche of money is spent, and estimating the number of lives saved as a result". Having decent reporting on how efficient your charity is feels like it should be basic table-stakes in order to raise more money in the future.

Is this really any different than a charity asking for donations?

Edit: asking for one very large charitable donation.

Re: An NFT That Saves Lives

#26

Post by endisneigh » Tue, May 04, 2021, 4:03 PM UTC

eloff wrote: post #23

spamalot159 wrote: post #10

Earlier quoted context omitted.

Except for that it uses technology that harms the environment. I don't think this trend is "fun" compared to a normal donation drive when it has these negative side effects.

The environmental harm of a single ethereum transaction is very low. Lower than a fundraising dinner. Please take your nitpicking elsewhere. They're literally aiming at saving thousands of lives and the comments are all focused on how bad NFTs are. Give me a break, talk about missing the point.

> The environmental harm of a single ethereum transaction is very low. Lower than a fundraising dinner. Please take your nitpicking elsewhere.

Source? I'm curious to see exactly how the environmental harm of a fundraising dinner is quantified.

edit:

When I google "ethereum transaction energy cost" the Google featured snippet says 50kwH for a single transaction. I find it hard to believe that it would take 50kWH to cook a single dinner. If you're referring to multiple dinners, then you would have to subtract the cost to eat in general as eating is a human necessity - hence me asking your source since I'm genuinely curious.

Re: An NFT That Saves Lives

#27

Post by psswrd12345 » Tue, May 04, 2021, 4:04 PM UTC

prtkgpt wrote: post #11

detaro wrote: post #8

Earlier quoted context omitted.

Seems fairly clearly just jumping on the bandwagon. Clearly people right now spend lots of money on NFTs for whatever reasons, so sell one and get money the buyer probably wouldn't have donated otherwise.

I believe, this is a great example to raise funds with the NFT models. Crypto to save human life.

This + the NFTs will make for truly excellent virtue signaling.

Re: An NFT That Saves Lives

#28

Post by [deleted] » Tue, May 04, 2021, 4:04 PM UTC

spamalot159 wrote: post #2

Seems like even PG is succumbing to the hype of NFTs. I don't understand how this will be any better than just doing a donation drive and it could possibly be worse for the planet.

[deleted]

Re: An NFT That Saves Lives

#29

Post by betterunix2 » Tue, May 04, 2021, 4:04 PM UTC

TacticalCoder wrote: post #17

spamalot159 wrote: post #10

Earlier quoted context omitted.

Except for that it uses technology that harms the environment. I don't think this trend is "fun" compared to a normal donation drive when it has these negative side effects.

> Except for that it uses technology that harms the environment. Apparently it's on Ethereum. Ethereum is already using an hybrid PoW / PoS (proof of stake) chain and at some point the PoS chain should be the only one. It PoS works, the impact on the environment should be a rounding error.

Great, get back to us when it actually happens, right now it is an environmental disaster.

Re: An NFT That Saves Lives

#30

Post by motohagiography » Tue, May 04, 2021, 4:06 PM UTC

advisedwang wrote: post #19

Is the donation still tax-deductible if you do it through a NFT?

I've suspected that the point of NFTs is to transfer cryptocurrency into an asset with a different volatility proifle without "realizing gains," or even use them as loss makers to offset capital gains, so indirectly, maybe?