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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)

#181

Post by conception »

Macha wrote: post #139
conception wrote: post #110

Earlier quoted context omitted.

NFTs are a great idea but what people are doing with them now is a scam. I’m not sure if it will ever come to pass but imagine what the rumors for GameStop’s nft could be - a decentralized steam. People can build whatever client they want and it uses the blockchain to determine if you own a particular digital game. Then when you want to see it you can just sell the nft. Obviously there are a lot of considerations to…

> I’m not sure if it will ever come to pass but imagine what the rumors for GameStop’s nft could be - a decentralized steam. Let's look at the issues of this one. Let's imagine you wanted to buy FIFA 2025 on this NFT steam. As a game purchaser, you want to play the game. It'd also be nice if you can resell it when you're done, but this is a secondary use case. As a game publisher, EA want only people who own the game…

There are a number of digital issues to handle and for large companies the classic “how is blockchain better than a central database” doesn’t pass.

For a smaller dev, does saving some percentages of profits to distribution make sense?

As for DRM, I don’t think an nft solves that or piracy in general but neither does the current system.

I guess the question of nfts is “Is it possible for ownership of unique digital goods to exist without a central authority controlling it?”

Doesn’t seem like a bad question to ask, and I don’t think the tech is there, but the idea of an nft could answer it.

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

#182

Post by jordemort »

programmarchy wrote: post #167
neilalexander wrote: post #154

Earlier quoted context omitted.

The blockchain tells you that you "own" whatever was at the URL at the point of time that it was written onto the chain. There is no continuing or on-going guarantee that the content at the URL won't change after that. If there is no content hash in the receipt and the original URL is now defunct, how do you prove authenticity?

One way would be to store a hash of the content at that URL with the NFT, but there's actually a better way. IPFS supports the concept of immutability [1], so you could just use an IPFS URL with a content identifier. It also allows for revisions linked to the original content identifier. [1] https://docs.ipfs.io/concepts/immutability/

Is it correct that things can disappear from IPFS, if nobody is continuing to bother to pin the content? It seems like you could get an immutable URL this way, but that there's still no guarantee that the URL will remain accessible.

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

#183

Post by neilalexander »

jordemort wrote: post #182
programmarchy wrote: post #167

Earlier quoted context omitted.

One way would be to store a hash of the content at that URL with the NFT, but there's actually a better way. IPFS supports the concept of immutability [1], so you could just use an IPFS URL with a content identifier. It also allows for revisions linked to the original content identifier. [1] https://docs.ipfs.io/concepts/immutability/

Is it correct that things can disappear from IPFS, if nobody is continuing to bother to pin the content? It seems like you could get an immutable URL this way, but that there's still no guarantee that the URL will remain accessible.

Yes, that is correct. The IPFS nodes with the relevant content may go offline, people who are pinning the content may just decide to not pin it anymore for whatever reason and then eventually the content would just disappear from people's caches.

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

#184

Post by clippablematt »

kumarvvr wrote: post #5

Am glad this is happening. A handful of people actually know what are NFTs. Those with half knowledge are curious about their insane transactions. Those who are dumb or greedy or both, think NFTs are the next best thing. Events like this will even out the playing field, as the dumb ones will fear that their investments might wnd up on the torrent interwebs .

Nobody in the nft space cares about this. It’s being shared around and everyone thinks it’s funny that there are people so angry about nfts and that they think this is a “gotcha”, people are happy the content is being distributed and recorded by all the seeders.

It’s wild how divisive nfts have become. I’m pretty sure everyone has such an abusive relationship with money and value that they’re blinded by it all and fearful of anything that embraces it. That probably makes sense as an attitude to have, but it’s also silly.

https://youtu.be/vMDBmP56s8o

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

#185

Post by clippablematt »

falcolas wrote: post #100
skizm wrote: post #83

Earlier quoted context omitted.

You can tell who minted it. So the "uniqueness" comes from the fact that the original artist minted the NFT and the timestamp tells you if this was the first and/or only one minted by this artist for this URL.

Until the artist needs money, and “mints” more NFTs for the same URL.

That’s on them and their reputation. Why would an artist intentionally damage their community and legitimacy.

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

#186

Post by BTCOG »

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…

Bitcoin is a real, hard money that you will clearly see take over as a reserve over the next decade, and it's secure. It solved problems. Everything else, especially including Ethereum are nothing more than psuedo-intellectual scams. Ethereum has already changed their monetary consensus six times within five years. Play fiat games, and win fiat prizes.

You know you're only commenting this to get a rise, though.

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

#187

Post by pketh »

SuoDuanDao wrote: post #133
Uehreka wrote: post #95

Earlier quoted context omitted.

> the age old “this isn’t for you” is applicable here I disagree. When people are going around calling this a revolution that will change the fabric of society, they can’t just revert to “maybe it’s just not for you” when they have trouble explaining it or defending it. Either this is revolutionary or it’s a niche thing, but it can’t be both.

But doesn't every revolution start out with a niche of early adopters that see the potential in something where everyone else just sees the clunky first prototype? Bitcoin in the early days may not have been for you, but if your retirement fund starts holding an amount of crypto it will become 'for you' then. The Tesla Model 3 is for a lot more people than the model S, and so on. Why would a revolution need to be 'fo…

> Either this is revolutionary or it’s a niche thing, but it can’t be both.

My reading of this is that it's describing something at a single point of time. So to use your example, the Tesla S was niche, _then_ the 3 evolved the idea to become revolutionary.

Some niches eventually become revolutionary, but they're not both niche and revolutionary at the same time.

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

#188

Post by BTCOG »

chrisco255 wrote: post #15
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…

Yes, you can screenshot the Mona Lisa or print out a signed Mickey Mantle rookie card, but it's not the same thing is it? The verifiable timestamp and record of account associated with a wallet address (public key) that is known to be associated with the artist that produced the work is the same as establishing physical provenance for a unique item. And as for value goes, NFTs are far more liquid than physical art wo…

Chrisco255 - This is precisely the rub of the scam. You bought it, hook, line, and sinker. But this is 100% incorrect. An NFT owner does not own the artwork. You are just scammed into thinking you bought a free and downloadable to all JPEG image.

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

#189

Post by handrous »

ghuntley wrote: post #98
fooyc wrote: post #70

Earlier quoted context omitted.

With the TPB parody and everything, this a satire against intellectual property in general, not just NFTs, right ?

It's the spiritual successor of https://www.noyaml.com .

Somehow I'd missed that one. I agree with its general point, but the "this is what SQL would look like as YAML" joke actually looks almost exactly like how I write SQL. Maybe I've been doing it wrong all these years....

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

#190

Post by willcipriano »

andreilys wrote: post #66
PragmaticPulp wrote: post #30

Earlier quoted context omitted.

> The verifiable timestamp and record of account associated with a wallet address (public key) that is known to be associated with the artist that produced the work is the same as establishing physical provenance for a unique item. Not really. In your Mona Lisa example, an NFT would be more like a blockchain based ticket to the Louvre that has a link to a Mona Lisa JPEG. That’s the mismatch in NFT discussions: The be…

They might be valuable to other members of the NFT believers group in the same way that rare baseball cards are valuable to other baseball card collectors, but the rest of us just aren’t interested in trading digital baseball cards of JPEGs. Well that's the point isn't it? It's valuable within the in-group that the person is part of. It increases their status within the crypto community and gives them access to exclu…

> Much in the same way that I marvel at peoples ability to spend millions of dollars on Modern art (Basquiat's for example look like a 5 y/o drew them), NFT's to me serve a similar function.

Money laundering?

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