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TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

thenftbay.org

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Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#121

Post by Cthulhu_ »

kashyapc wrote: post #96
theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

I'll quote this response[1] from the other day's thread: "Imagine a world where all or most of our interactions are in the digital realm. When you wake up in this place you are naked, cannot show anyone anything about yourself, but you are very rich. Now how do you show others that you are rich? Simple, you buy Gucci NFT clothes that other naked peasants can see. That's what's happening." Someone in the thread elabor…

You get a certificate of ownership for your clothes - but you don't actually hold that certificate, it's a digital record in some database.

I mean, it's as valuable as what others believe it's worth, and like any common object with the word 'supreme' on it, there's people who consider these things valuable.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#122

Post by cr1895 »

dcolkitt wrote: post #114
cr1895 wrote: post #63

Earlier quoted context omitted.

>You could have a tangible copy of the Mona Lisa that is physically indistinguishable from the real one. It certainly would not be. It might look very very similar, but in no way indistinguishable to the degree that one digital file is literally the same as a copy of itself.

Top forgeries are so similar that it often takes a team of experts independently examining a piece until the fake is detected. Are you seriously trying to claim that the reason the original Mona Lisa has value (vis-a-vis a high quality forgery) is because of the minute tangible composition of the paint? I’m sorry, but no. It’s clearly the intangible provenance. Otherwise forgeries wouldn’t fall in value when detected…

>Top forgeries are so similar that it often takes a team of experts independently examining a piece until the fake is detected.

And even if it might be difficult to tell apart, it isn't literally the same thing.

>Are you seriously trying to claim that the reason the original Mona Lisa has value (vis-a-vis a high quality forgery) is because of the minute tangible composition of the paint?

I'm not sure how you concluded that is what I said. I never made any statement as to why it is valued the way that it is.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#123

Post by cslarson »

theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

FYI, $200 is the current bid on that nft and isn't accepted by the seller for obvious reasons. BoredApeYachtClub nfts have a floor price of 52.42 ETH on opensea so the 66 ETH price tag the seller has on it is likely more in ballpark. 52 ETH is about $217k.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#124

Post by Macha »

djyaz1200 wrote: post #69
ahelwer wrote: post #26

Earlier quoted context omitted.

I think I can explain. I understand why others value them, although I don't agree with the valuation (as a litmus test, I also think shelling out $30k for a genuine Rolex is very stupid). My lack of agreement also does not prevent me from participating and profiting off the people who think they do have value, although I have not done so. There are basically two theories of their value: the collectible theory and the…

This is a good explanation of why some people perceive NFT's to have value, setting aside if they do or not. The people who believe they have value I think expect at some point a business model will emerge to provide them with income for access to the "art" they "own". The way to make a business model is to associate copyright ownership with the NFT ownership and then assert those rights by filing DMCA takedowns (and…

> The way to make a business model is to associate copyright ownership with the NFT ownership and then assert those rights by filing DMCA takedowns (and/or lawsuits) everyday to anyone who displays the "art" without paying for the privilege and using the NFT owners original work as the source file.

The issue is you need the legal process to tie ownership of the NFT to ownership/transferrable license/whatever of the work. And once you're setting up that legal process, what then do you need the NFT for?

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#125

Post by moolcool »

theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

The craziest thing about it to me is just how _absolutely hideous_ most of the profitable NFT art is. The BAYC apes are just some of the ugliest designs I've ever seen. Remarkably ugly stuff.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#126

Post by npteljes »

serverholic wrote: post #65
rory wrote: post #34

Earlier quoted context omitted.

> they never degrade on the blockchain I don't think this part is generally true, since the image itself isn't hosted on the blockchain. ...which brings me to: as someone who knows very little about this technology, why aren't the images themselves stored on the blockchain? Are they simply too big for that to be feasible?

They are put on IPFS which can exist forever.

URLs can also exist forever. The real point is that they are digital assets that don't exist on the blockchain itself.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#127

Post by nathias »

theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

So in this case a scam would be when you pay the price the author wants and not a scam is when you just take it?

I get that the pirates would be against NTFs that are the tech of future DRM systems, but they could at least be honest about it. They aren't a scam, or killing the planet etc. they are bad because they are useful for copyright.

I found this intro useful: https://nftschool.dev

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#128

Post by gigatexal »

of all the things the crypto world has given us: a fixed number of digital coins, smart contracts, all teh blockchain based companies, NFTs are the stupidest most useless things except for those minting and selling them then they're still shit to sell to the gullible.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#129

Post by neilalexander »

serverholic wrote: post #65
rory wrote: post #34

Earlier quoted context omitted.

> they never degrade on the blockchain I don't think this part is generally true, since the image itself isn't hosted on the blockchain. ...which brings me to: as someone who knows very little about this technology, why aren't the images themselves stored on the blockchain? Are they simply too big for that to be feasible?

They are put on IPFS which can exist forever.

"can" being the operative word but is very very far from guaranteed. If you wake up one day to find that no IPFS nodes are pinning the content anymore, it is as good as gone.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#130

Post by ahelwer »

Macha wrote: post #124
djyaz1200 wrote: post #69

Earlier quoted context omitted.

This is a good explanation of why some people perceive NFT's to have value, setting aside if they do or not. The people who believe they have value I think expect at some point a business model will emerge to provide them with income for access to the "art" they "own". The way to make a business model is to associate copyright ownership with the NFT ownership and then assert those rights by filing DMCA takedowns (and…

> The way to make a business model is to associate copyright ownership with the NFT ownership and then assert those rights by filing DMCA takedowns (and/or lawsuits) everyday to anyone who displays the "art" without paying for the privilege and using the NFT owners original work as the source file. The issue is you need the legal process to tie ownership of the NFT to ownership/transferrable license/whatever of the w…

Ease of entry, transferability, etc.
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