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

Visa Buys CryptoPunk #7610

twitter.com

Post reply on HN
Print view View original

81–90 of 138 posts

Re: Visa Buys CryptoPunk #7610

#81

Post by asah »

DSingularity wrote: post #69
space_rock wrote: post #50

Earlier quoted context omitted.

The scammers are skilled at washtrading the prices high and getting attention on social media. Lots of standard salesman/con artist tricks to get people to fomo buy in

But that’s basically all of crypto. The trick is to get out early /s.

"all of crypto" has a soft landing as gold bugs and others diversify trillions into crypto.

NFTs have a soft landing if/as crypto whales diversify into NFTs. Traditionally, collectibles are a much smaller market than commodities and currencies because their uniqueness reduces their liquidity. The "huge" art market ($50B) is dwarfed by precious metals ($10+T).

Re: Visa Buys CryptoPunk #7610

#82

Post by woofster »

mgh2 wrote: post #72
dageshi wrote: post #56

Earlier quoted context omitted.

It's interesting to me, I've never bought a single crypto thing of any type but I look at the speed it's developing and popularity and it reminds me of the internet circa early 2000's when things were moving fast. The internet nowadays is a bit stale by comparison, crypto seems to be where the action and energy is.

The internet was really useful back in the days though, even for skeptics. Crypto is still an idea searching for a problem (not discounting the possibility that it won't find one though). At this point, it seems like pure promotion, marketing & propaganda fueled by social media, a negative externality of the internet itself. Simple equation: trash in, trash out. But sure, "a man's trash can be another's treasure". No…

dude I buy my drugs with BTC, what problem you tryin to search?

Re: Visa Buys CryptoPunk #7610

#83

Post by ahtihn »

randall wrote: post #60
the_gastropod wrote: post #29

Earlier quoted context omitted.

Mind sharing just one?

Concert tickets, where the artist gets a pct of fees on scalping.

Why do you need crypto for that? Just make a standard ticket ecommerce site and add some functionalities for ticket resale.

Re: Visa Buys CryptoPunk #7610

#84

Post by rattlesnakedave »

the_gastropod wrote: post #29
rattlesnakedave wrote: post #24

Earlier quoted context omitted.

Not only is this a small sum of money for Visa to throw away, this is a small sum of money for an NFT collector to throw away. To me most criticism of NFTs is reminiscent of criticisms of modern art. Very few understand the scope of what "non fungible token" means. There are PLENTY of use-cases for a publicly verifiable token issued by a 3rd party and owned by you, other than art, if you just use a little imagination…

Mind sharing just one?

sure! think of how we currently use cookies in web2. Imagine being able to issue a unique token that does the same thing, but it's stored on the ethereum blockchain. So it can be traded, sold, bought, etc. And there's no clearing the cache. Only invalidation on the server side.

The possibilities are both horrifying and wonderful.

Re: Visa Buys CryptoPunk #7610

#85

Post by micromacrofoot »

lottin wrote: post #57
azemetre wrote: post #49

Earlier quoted context omitted.

Yeah, when I realized you don't actually "own" it through any licenses it made me sour on the whole idea. Is there a reason why people couldn't be granted a license to do whatever they wanted with an NFT? Seems kind of arbitrary to do so, but I'm sure there's a reason why it's like that.

Because anyone can mint an NFT, whether they have a license or not, so it would require a bureaucracy to check the validity of the NFTs, and so on, in other words a central authority. And if the system relies on a central authority then it makes no sense to trade the licenses on a blockchain, as the blockchain only adds an unnecessary step. Skip the blockchain and go directly to the central authority.

I keep expecting to read something that makes NFTs seem reasonable but the more I read the worse they sound.

Re: Visa Buys CryptoPunk #7610

#87

Post by capiki »

wc- wrote: post #74

There's a lot of back and forth about the general idea of NFT's, why would visa do this, the usual HN pros and cons of crypto, etc, in this thread. To the software devs on HN that might scroll past this, before you close this tab because of all the crypto stuff when you want to read about coding, hang on a sec! There are some really really cool new user experiences being unlocked with so-called "web3" tech. Micro tra…

Any pointers to projects doing/enabling microtransactions in crypto?

Re: Visa Buys CryptoPunk #7610

#88

Post by moralestapia »

wc- wrote: post #74

There's a lot of back and forth about the general idea of NFT's, why would visa do this, the usual HN pros and cons of crypto, etc, in this thread. To the software devs on HN that might scroll past this, before you close this tab because of all the crypto stuff when you want to read about coding, hang on a sec! There are some really really cool new user experiences being unlocked with so-called "web3" tech. Micro tra…

Yeah, I'd like to jump on that bandwagon, if you have any leads please share them. Best.

Re: Visa Buys CryptoPunk #7610

#89

Post by Philip-J-Fry »

mmahemoff wrote: post #59
gokhan wrote: post #26

Earlier quoted context omitted.

Would you go to Louvre to see Mona Lisa if you have an atom-by-atom identical copy at home? How much would you pay for the original? What is "original" in this case? Which ship of Theseus is the original one? I don't say, as art, some NFTs are not pretty. I just say they don't represent the same value (for me) as some people think. A CryptoPunk does not have a physical representation, so the one you and I see on our…

Many museums are in fact showing fakes. Seems that people don't care as long as they know there's only one official version of it hanging somewhere, even if that's not the original. I think that's analogous to owning the one NFT that was officially minted by the work's creator, even when there's infinite digital copies of the work possible. https://www.fastcompany.com/90170415/so-many-museums-are-fil...

I wouldn't say that people don't care because they know there's only one official version of it hanging somewhere.

I think it's more so that people don't know that they're looking at a fake. I would be surprised if you told someone that the painting they're looking at is fake and they're response is "oh I don't care". I'm sure they'd be at least a bit disappointed.

Re: Visa Buys CryptoPunk #7610

#90

Post by micromacrofoot »

hanklazard wrote: post #2

I find their explanation so strange… they are adding it to their “collection of historic commerce artifacts”? Do they run a financial network or a museum? If I were a shareholder, I would not be happy with this move.

This is outrageously common; Fidelity owns ~12,000 pieces of artwork, for example. They have curation and management staff too.
Post reply on HN