Earlier quoted context omitted.
why?
The joke | V . ° . . O ° \|/ You -> ^
Ahhhh.....you seem pretty
certain of yourself, don't you?
TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
251–257 of 257 posts
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#252Earlier quoted context omitted.
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."
And any other person can have an identical painting, but without the receipt. NFTs are a scam to introduce artificial scarcity and make someone else pay for it. The "art" (speaking of the picture in the root comment) hardly has any value itself.
I agree, but also have to add:
Does any (normal, non digital) art (say picture or sculpture) have any value itself? Besides the value of the material of course.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#253Earlier quoted context omitted.
There's no such constraint, it would be futile even if there was, you can just copy the image to a different web server and get a different URL. What's going to be interesting to watch is when one of the heavily CDN's used goes down so NFT owners are left with receipts of broken links, even better if a CDN gets hijacked and gets configured to return the same Rick Roll clip for every NFT link.
What are the most popular CDNs used for this crap?
> What are the most popular CDNs used for this crap?
They're using IPFS and/or Arweave so nothing that can simply go down. Decentralization yay.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#254If 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…
There's no such constraint, it would be futile even if there was, you can just copy the image to a different web server and get a different URL. What's going to be interesting to watch is when one of the heavily CDN's used goes down so NFT owners are left with receipts of broken links, even better if a CDN gets hijacked and gets configured to return the same Rick Roll clip for every NFT link.
They're using IPFS and/or Arweave so nothing that can simply go down. Decentralization yay.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#255Earlier quoted context omitted.
None at all, since those "unique" assets can be copied freely because the blockchain is public. I'm really puzzled about why aren't they publishing a low-res copy of the image, and sending the buyer of the NFT the unpublished high-res version. That way only the buyer (and the artist) would have that file, and by keeping it secret they could make it rare, albeit not necessarily valuable.
Same reason they're not assigning copyright or granting a commercial license as part of the sale -- it's just a scam, and those things aren't necessary for the scam to function. And because the marks think that they're gonna get rich off owning a blockchain pog with a link to a monkey jpeg, the art doesn't have to be good, either.
> Same reason they're not assigning copyright or granting a commercial license as part of the sale -- it's just a scam, and those things aren't necessary for the scam to function.
A lot of projects actually do assign a license to the sale.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#256I 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…
You're right, it's just nonsense based around artificial scarcity and commodification of something, in a way that is not grounded in material reality, it is the logical conclusion of financialization, the trading of assets on increasing levels of abstraction to the point where they quite literally have no material value.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#257Earlier quoted context omitted.
> ITT: People who don't know what NFT's are explaining what they think NFT's are to other people who don't know what NFT's are. Then you should explain what they are. If you can't (or won't), why should we care? > If you are actually interested in how NFT's work, interesting projects using them, or just want to have a conversation around the topic that isn't just snarky morons jacking each other off, I highly encoura…
> Then you should explain what they are. I'm not a blogger or evangelist, plenty of people are and discuss this daily. Go find them on Twitter if you care, or not, makes no difference to me. > If it's not a scam or cult, then just publish something on the web. There are hundreds of whitepapers on the topic freely available all over the web. Every project worth following does this and there is no shortage of it. Hones…
its strange how hn is so intellectually curious about technical subjects
then as soon as people can make money from the tech, people who decide it's an immoral scam and have no curiosity take over the conversation
the internet has convinced us that people who believe something strange must be wrong