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

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

#141

Post by SuoDuanDao »

cr1895 wrote: post #63
dcolkitt wrote: post #38

Earlier quoted context omitted.

But you're not paying for the tangibility. Digital image replication is near perfect. You could have a tangible copy of the Mona Lisa that is physically indistinguishable from the real one. The reason people pay millions for artworks is because of the intangible provenance. If the value was the tangible, then tangible digital replications would sell for the same value as the original.

>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.

>one digital file is literally the same as a copy of itself.

That's the problem NFT's seek to solve ;). You may not think it's a problem, but a lot of people on the production side of digital artwork do.

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

#142

Post by sharperguy »

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…

It's like the difference between a genuine pokemon card and a print-off. The print-off looks just like the original, except for a missing security hologram.

In theory, you could use the print-off in games of pokemon at home with friends with no problem.

So why is the genuine one worth more? Because its the genuine card printed by The Pokemon Company, and you can prove it.

So in a sense, NFTs distill the "genuine" part and separate it from the need for a physical token or card.

That said, I am highly skeptical that any NFT will be worth the many thousands people are paying from them now in a few years time. Especially as the platforms they are based on fail to scale and transaction fees become ever more problematic.

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

#143

Post by chrisco255 »

mythz wrote: post #52
dcolkitt wrote: post #38

Earlier quoted context omitted.

But you're not paying for the tangibility. Digital image replication is near perfect. You could have a tangible copy of the Mona Lisa that is physically indistinguishable from the real one. The reason people pay millions for artworks is because of the intangible provenance. If the value was the tangible, then tangible digital replications would sell for the same value as the original.

Which is running the same scam as buying a Star [1], except it's done on a blockchain selling to greater fools who are being promised of untold riches that will come their way from buying a row in a database containing a link to a CDN [1] https://twitter.com/smdiehl/status/1445795674696597506

The problem with "buying a star" or selling a star is there really is no provenance for it.

Your bank account is simply a row in a Cobol database managed by some archaic institution. Your stocks in your Robinhood app are the same. You seem to be demeaning the value of database records when so much of the world economy is merely that.

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

#144

Post by programmarchy »

jordemort wrote: post #55

If an NFT just contains a URL, is there anything stopping me from minting a bunch of new NFTs that contain the same URLs as existing NFTs? Is there some sort of uniqueness constraint on the URLs or is it just taken on faith that nobody would ever do that? What if I added some nonsense (like, I dunno, an fbclid) to the URL query string? What if I minted duplicates of all the NFTs on the Ethereum chain on the Solana ch…

The timestamp and signature would disprove your claim, and evidence of your fraud would perpetually exist on the blockchain if someone wanted to hold you accountable.

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

#145

Post by BEEdwards »

dcolkitt wrote: post #119
notkaiho wrote: post #51

Earlier quoted context omitted.

but a digital image is not tangible, i.e. something you can have displayed, in a physical frame, in meatspace.

Half of my Twitter feed is profile pics of NFTs being displayed prominently. In a pre-digital pre-social media world you’re right. But in the modern world where people spend more time socializing online than in meatspace, digital goods become easier to display than physical ones. I think a lot of HN doesn’t get this because they don’t spend much time on social media. But for someone like Steph Curry, putting an ape i…

>Half of my Twitter feed is profile pics of NFTs being displayed prominently.

And I could in 30 seconds, find the most expensive nft, copy the image and use that as my profile picture...

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

#147

Post by programmarchy »

yabones wrote: post #73

Isn't funny how the same generation that almost bankrupted the entertainment industry with piracy (their words, not mine) is now crying and stomping their feet because of exactly the same copy-paste 'piracy'. It doesn't go both ways, scarcity simply doesn't exist with digital goods, nor does ownership. We proved two decades ago that average people don't care about copyright, why would anybody be so naive to think add…

Because now the apparatus of digital rights enforcement can be exercised by independent creators, without the need for leviathan media companies with hordes of lawyers. It enables simple and easy self-publishing for artists.

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

#148

Post by neilalexander »

fooyc wrote: post #36

You could do that with movies, music, art, games, anything digital. NFTs are a scam, but this is completely missing the point. Unless the point is that every digital property is a scam.

You're conflating two wildly different things: buying "ownership" and buying "license".

NFTs are represented to people as buying ownership of something, as if you are the one true owner of whatever-it-is and it is yours to do with what you will, including selling or re-selling it.

Most digital content (think films, music, games) is not bought, it is licensed. You buy the license which grants you some rights to consume it, but there are also restrictions (thou shalt not redistribute, re-sell etc) and those rights are often not irrevocable.

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

#149

Post by willio58 »

programmarchy wrote: post #144
jordemort wrote: post #55

If an NFT just contains a URL, is there anything stopping me from minting a bunch of new NFTs that contain the same URLs as existing NFTs? Is there some sort of uniqueness constraint on the URLs or is it just taken on faith that nobody would ever do that? What if I added some nonsense (like, I dunno, an fbclid) to the URL query string? What if I minted duplicates of all the NFTs on the Ethereum chain on the Solana ch…

The timestamp and signature would disprove your claim, and evidence of your fraud would perpetually exist on the blockchain if someone wanted to hold you accountable.

Yeah this is the thing. You can’t prove ownership if you copy paste a jpeg or a url. You prove ownership with the blockchain.

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

#150

Post by 5040 »

michaelmrose wrote: post #88
fooyc wrote: post #58

Earlier quoted context omitted.

What is stopping you from selling a movie you've just downloaded ? The movie industry is a scam !

A movie requires as input substantial fulfilling meaningful work and produces as output something that people find meaningful. Rendering the output file artificially scarce may itself be bullshit but doing otherwise does leave us with the challenge of how to pay for that work. The price set for enjoyment of that file is set to a value that the majority of people can afford even if they have to wait for it to say hit…

Prices aren't obvious. Movies are a good example of this.

>Surprisingly, during the court battles over the legality of the VCR, the studios began selling their movies on Betamax and VHS—to play on the very devices they were trying to outlaw. Trying to have it both ways, they began selling movies on video cassettes for retail prices up to $100). In 1977, Twentieth Century Fox was the first when they released Patton and MAS*H, which had been in theaters seven years prior, and The Sound of Music, which had its theatrical release in 1965. The first movies on videocassette weren't exactly new releases. Given a family of four could watch a movie at the theater for about $15 in 1977, $100 for a videocassette of the same movie seemed outlandishly expensive. But from the studios' perspective, that was a fair price to own a movie versus the lower price to rent a seat in a theater to watch it. The price Fox set for these first releases became the standard for the industry.

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