31–40 of 264 posts
I'm very surprised that those (the JSON and the picture) are not stored in a decentralised way e.g. IPFS or Swarm. So if I buy an expensive NFT, and the domain goes down, the NFT is now worthless? We should be on the lookout for any of these domains expiring, then we will buy them and upload Rick Astley GIFs
I hate to admit it but I’m still struggling to understand why people would pay so much for NFTs. I feel like I fully understand what they are and why most people want me to believe it has value but I still don’t agree. I’m waiting for my mind to change but it hasn’t happened yet. It’s frustrating because so many people I respect are leaving their high paying jobs to work in web3 startups around NFTs and I feel dumb f…
Now of course there's a mountain of clueless suckers kicking off a regular tulip mania-style bubble. I wonder how many more weeks it will last.
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
I hate to admit it but I’m still struggling to understand why people would pay so much for NFTs. I feel like I fully understand what they are and why most people want me to believe it has value but I still don’t agree. I’m waiting for my mind to change but it hasn’t happened yet. It’s frustrating because so many people I respect are leaving their high paying jobs to work in web3 startups around NFTs and I feel dumb f…
Earlier quoted context omitted.
Proof of wasted space. Proof of space algorithms just fill hard drives with garbage.
Better than continuously burning electricity, yes? And if the stored data is actually useful, is the net result all that bad?
The real problem is any proof of resource scheme immediately becomes a grey goo where folks are incentivized to consume literally all that resource wether it makes sense or not. It has no negative feedback loop. It cannot make sense.
Also, because of market pricing of the tokens businesses cannot actually leverage it (as they don't want wacky prices that vary by the minute) so you're left with, as usual, illegal content, gambling, speculation and other misc crime. Basically why Filecoin has a small rack of hard drives' worth of stored data and Chia has exabytes and exabytes of garbage - or did, does anyone care about that one anymore?
It makes more sense to just store garbage if your goal is to run a neat little pyramid scheme.
(That might not make them worthless, since value is socially constructed, but it makes the claims of decentralization seem less impressive.)
I hate to admit it but I’m still struggling to understand why people would pay so much for NFTs. I feel like I fully understand what they are and why most people want me to believe it has value but I still don’t agree. I’m waiting for my mind to change but it hasn’t happened yet. It’s frustrating because so many people I respect are leaving their high paying jobs to work in web3 startups around NFTs and I feel dumb f…
The only real future for NFT's is a coupling with the physical world. Like buying physical art. Or proofing ownership of an asset like houses.
I will genuinely put effort in to starting a company that provides a blockchain proof of real estate ownership if this ever happens, just so I can fraudulently sell everyone's houses while they live in them after a few years. It'd be hilarious.