Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

thenftbay.org

Post reply on HN
Print view View original

191–200 of 257 posts

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

#191

Post by clippablematt »

pavlov wrote: post #155
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…

An NFT is a bit like going to a book signing. The author sits there, but instead of signing your book, he just hands you a piece of paper with a number printed on it and says "next". You also need to give him a pile of casino tokens in exchange. With luck, somebody else will appreciate your story of how the famous author touched this uniquely numbered piece of paper while thinking about his book, and will give you a…

Youre almost there. But its more like tens of thousands of people putting hundreds of billions of dollars on the line to say that they witnessed the author sign your book, verifying your claims to whoever challenges them.

Which turns out to be pretty useful and maybe have value.

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

#192

Post by nefitty »

Cthulhu_ wrote: post #121
kashyapc wrote: post #96

Earlier quoted context omitted.

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.

The best analogy I've heard is, "Imagine you spent $1,000 for a painting. Now, instead, imagine you spent $1,000 to buy the receipt."

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

#193

Post by djyaz1200 »

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…

I presume those who support NFT's (I'm not among them) would suggest that owners would use the legal process in some cases to set a precedent for enforcing rights so that people end up respecting those rights. Like parking tickets for private parking lots, the incentive would be just pay to avoid the hassle if you want to use the asset legitimately. I think the odds of this "pay to display" business model coming together are low but if they did it could be a big financial opportunity for those who hold the rights to valuable content.

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

#194

Post by freddref »

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 just printed out that image and stuck it on my wall.. nice.

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

#195

Post by royaltheartist »

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…

Noticing a lot of takes on here that are side-stepping the "You don't actually own anything" part to suddenly focus on community buildings, as if a community has formed on the basis of receipt collection

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

#196

Post by laughingbovine »

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 a certificate of authenticity. If you buy a nice watch which comes with a piece of paper saying that Rolex made it, what's actually worth money here? The watch is worth the money, provided you can prove that it was made by Rolex and not a knockoff. Is the certificate of authenticity itself worth money? Ehh... sort of... but only if you have the watch its authenticating. Who would buy the piece of paper alone?

What about if i can make infinite identical copies of the watch? Things stop making sense once there is no scarcity.

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

#197

Post by ohgodplsno »

ahelwer wrote: post #49
ohgodplsno wrote: post #35

Earlier quoted context omitted.

>they never degrade on the blockchain That's entirely wrong. None of the NFTs are stored on the blockchain, merely a bit of JSON that contains a link to your image. If you're lucky, it's hosted on IPFS (and it'll disappear whenever everyone stops seeding it). Otherwise, it's just a link to your image host of choice, and the author is free to replace it with the image of a dick in three months, deleting all your resal…

> No, it authenticates the seller Reminds me of that tweet about how programmers are like compilers that read things until they find the first concept they disagree with, then post it like an error message. Read the directly-following parenthetical.

Now now, I'm a smart compiler: I read an entire paragraph of bullshit before calling it out, with detailed error messages.

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

#198

Post by IntelMiner »

BEEdwards wrote: post #145
dcolkitt wrote: post #119

Earlier quoted context omitted.

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...

The part that still baffles me is that if you did that, the NFT community would just say "oh well that's not the REAL owner!" and pretend you don't exist

Similarly if you "stole" the blockchain receipt of an actual NFT, therefore gaining "ownership" of it, the NFT community would simply pretend the person you stole it from was still the "real" owner, despite having zero "verifiable" status to it, beyond having possibly tweeted it before you did

I have to use a lot of quotes because even in a hypothetical there's so many variables that applying real world properties to just make my head hurt

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

#199

Post by IntelMiner »

carnitine wrote: post #120
notkaiho wrote: post #44

Earlier quoted context omitted.

People continue to misunderstand even the above, and think that it's somehow actually conferring them the rights to all the bytes, and the results are hilarious: https://twitter.com/JackShawhan/status/1457951413368016899

That’s obviously not someone being serious.

How can you definitively prove that?

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

#200

Post by cuzBchain »

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 akin to them holding www.google.com, which is a memory block in a distributed database in a machine network to other machines.

I don’t need to use DNS to transmit/receive bits but only Google can transmit and receive from google.com using the DNS network

There’s nothing stopping people from setting up their own tribal network now that high speed reliable physical networks exist and cloud is push button deploy for an expert.

Like video subscriptions everyone is selling a platform to own memory addresses abstracted into a domain, and NFT.

Our internet is a multiverse of the same old electron states printing differently depending on preferences

I think humanity is starting to realize again the mainstream ephemeral value store (dollars) is not the only one. The network that generates these experiences is.

Who cares how much we spend (money is just an emotional abstract) so long as the network lives?

Long live the network

Post reply on HN