61–70 of 411 posts
Q4 is set to be an amazing crypto run because all I see is lots of last minute FUD right now on all media channels, and of course from China. The OG FUD source has blown its final wad and banned all crypto “for real this time.” Let’s hope the USA isn’t as backwards thinking and sees that banning crypto is removing yourself from the new world economy.
The whole NFT craze lost me when tech founders I once highly respected started pushing and showing off their ugly gifs and trading cards on Twitter. Bad taste of the bored rich is not a new thing, but I hope NFTs won't become a noble tradition.
Most of the influencers are shilling something, obviously
The rebranding of MySQL as blockchain was a brilliant move for sales. Bit torrent is decentralized and it doesn't use "blockchain". "Blockchain" only works for money and nothing else
More than a decade on, approximately nobody uses Bitcoin for normal transactions. Compare with Venmo or MPesa, both of which launched around the same time, to se what actual digital money looks like. Both of those do way more transactions than Bitcoin and are much more widely adopted.
And that’s fine. That’s a completely defensible world view, that many smarter than me have held throughout history. But for heavens sake why are you spending your time on a forum about celebrating startups hosted by a venture capitalist?
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I'd wager billionaires donate a lot more to charities than they spend on nfts. Look at the Gates Foundation.
You don't need to be a billionaire to count as "bored rich", which I take to mean anyone who has too much money lying around and can't find better uses than shitty computer-generated "art" (note that this doesn't include people who buy these with the sole purpose of flipping them to a greater fool). There are a surprising number of bored rich people, especially when you consider all the new-found crypto wealth. Most…
Hate to burst your bubble, but that is 99.99% of the NFT market. There is maybe 5 people total who bought a NFT for art appreciation reasons, but aside from that rounding error the only reason anyone owns one is as a speculative investment.
If you take every long-refuted criticism of Bitcoin along with cherrypicked examples of cringe celebrities endorsing it, and you combine that with misinformed neo-Marxism and an unquestioning acceptance of government officials, you get this article. If your average sports writer actually wanted to understand the space, they could read something with real data: https://nydig.com/wp-content/uploads/2021/09/NYDIG-Bitcoi…
This is the exact kind of utopian fantasizing that the article talks about. Charming!
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Because the trust is distributed. One single person can't cause the entire system to break down or steal all them money. With blockchain coins, the incentives are aligned. The weird thing that happened with BTC that I don't think Satoshi could forsee is that the more valuable it got, the less usable it got. This is one of the unsolved issues: how to create decentralized consensus very very quickly that can't also be…
I don't trust the collective anonymous users of Bitcoin more than I trust my bank and the court system though. If someone hacks into my account, my bank will likely reimburse me for any losses. There are controls in place to stop them from stealing it al. If someone just transferred it to their own account, I could use the courts to get it back. If I use a credit card to pay a scam, I can do a charge-back. With crypt…
What if it's taken thorough wrongful civil forfeiture? Will you be able to afford to navigate the courts to get your assets back after they've been seized?
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Well, I found it to be a decent solution to support actual artists (esp. Photographers or folks like eBoy fame) who were already selling their digital art in genuine and honest capacity. But when some random guy without a story renders a thousand animated dogs from a script and the actual art is how to push it via Reddit bots, my support for artistic value creation has reached its limit.
I don't get this. The concept hasn't changed since and those genuine artists are still there you supported. Or things are only cool until they are not mainstream?
I would extend that by suggesting that NFTs should be a valid means of supporting new artists. The problem arises when people dump garbage into the market to make a quick buck. This will ultimately diminish the long term value of NFTs, meaning there is less value for those who are trying to make a living from their art (and even for those who are trying to make a living investing in art).
The whole NFT craze lost me when tech founders I once highly respected started pushing and showing off their ugly gifs and trading cards on Twitter. Bad taste of the bored rich is not a new thing, but I hope NFTs won't become a noble tradition.