261–270 of 411 posts
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This is the equivalent of someone seeing how much a Picasso sells and wondering if they should become an artist. For every success, there are 10,000 failures.
That's true, but in the Picasso scenario I actually need to learn to do art. In the NFT case, apparently a 3rd grade level of photoshop skills would do.
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I must be getting old because I just don't get NFT's. They look stupid and I don't get why anyone would buy them. Declining tech companies and startups seem to be trying to crowbar them into their products much like Blockchain when it was new and shiny. Perhaps younger me would of seen something I can't anymore.
The only implementation of NFTs I've come across that doesn't look like a fly-by-night operation is NBA's Top Shot, where you can buy video NFTs of special moments in NBA history. At the very least, you can buy a piece of IP directly from the IP holder, and receive a package that's nicely presented. It's still totally overpriced, but I can see at least some value. It still needs to go a step further technologically.…
You're not really buying the IP in any meaningful way, though, you just get a non-exclusive, non-transferable (!) right to display it. They can still air it or license it to others without paying you royalties.
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But it’s not. It’s a token on a blockchain with some metadata. You’d actually need a separate legally binding contract to link it to actual ownership, and at that point you could have just made up the legal contract without any blockchain or token… With your example, if the game goes down, an NFT of the in-game purchase isn’t going to be very useful. What’s the difference between having a token or not of the content…
Imagine an indie game developer creating an open-world game where you can use your Sims furniture, Warcraft sword, Stardew Valley animals and so on. I don't quite understand your first point. Edit: the NFT is verifiable in your wallet and comes from a verified source
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Do you even know what you're talking about? In the US, a billionaire has more money at the end of the day if they just pay taxes on it than if they give it to charity and take the deduction. The only other way a charity helps a billionaire save on taxes is if they use the charity's assets (e.g. boats, helicopers, real estate) as personal assets. But that's felony tax fraud. A billionaire wouldn't be likely to risk pr…
Yeah, charities aren't full tax avoidance for the rich. It's more of a dick swinging contest amongst the wealthy with some tax breaks to take some of the sting away. At least some good may come from these contests though. Even if 90% of the funds go to pay charity management salaries it's better than nothing.
This article conflates NFTs with cryptocurrency, in a way that looks to me to be intentional in order to bolster his argument that crypto is for rich people to conspicuously consume and to pump and dump on the plebs. NFTs aren't money, or currency and just because they can be created on some blockchains doesn't make them so. I also don't see a genuine effort from the author to really understand why proponents think t…
Satoshi is dead, the dream is dead, people are just trading the corpse
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What has happened in those 12 years has been a great deal of scams, get rich quick scheme a and instability. Bitcoin has also become dominated by a few major players and is a power structure in itself, not really benefitting ordinary people much at.
Bitcoin is NOT dominated by a few major players. A few years ago when some large commercial players wanted to increase the block size, they weren't able to do so because a majority of nodes on the network rejected their code. The Bitcoin network has stayed remarkably stable and it's still possible to run a node on a raspberry pi, which is done exactly because the Bitcoin community value the ability of normal people t…
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What has happened in those 12 years has been a great deal of scams, get rich quick scheme a and instability. Bitcoin has also become dominated by a few major players and is a power structure in itself, not really benefitting ordinary people much at.
the ecosystem from 12 years ago is radically different from what it is now. Heck, it's radically different from what it was just 2 or 3 years ago. And well, it benefits (smart) ordinary people. That is, those who have invested or are investing. Smart money is here - and small investors are here too. And I'm saying purposefully "investing" as opposed to "trading". The former doesn't require any technical skills. As fo…
I was involved in a blockchain (DeFi) startup. All the blockchain companies are mostly a huge pyramid scheme. The company I worked for has a lot of big claims, raised millions, wanted to solve world hunger, prioritized partnership, marketing, while having no working implementation. Others in the eco system are the same. The NFT scene is even more BS. It could destroyed uninformed people's life, just like gambling. Ho…
"I worked for a sleezy startup that was scamming people, therefore all companies are scams"
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The only implementation of NFTs I've come across that doesn't look like a fly-by-night operation is NBA's Top Shot, where you can buy video NFTs of special moments in NBA history. At the very least, you can buy a piece of IP directly from the IP holder, and receive a package that's nicely presented. It's still totally overpriced, but I can see at least some value. It still needs to go a step further technologically.…
> At the very least, you can buy a piece of IP directly from the IP holder You're not really buying the IP in any meaningful way, though, you just get a non-exclusive, non-transferable (!) right to display it. They can still air it or license it to others without paying you royalties.
And even then, I'd say those mass-manufactured DVDs with 90 mins of content are intrinsically more valuable than a GIF-length video clip.
How long before Amazon starts paying their workers in a BezosBucks cryptocurrency that can only be redeemed at the Amazon company store? https://jacobinmag.com/2021/07/amazon-warehouse-communities-...