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CNN is selling public domain images as NFTs

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Re: CNN is selling public domain images as NFTs

#21

Post by kranke155 »

mwattsun wrote: post #20
kranke155 wrote: post #17

Earlier quoted context omitted.

Is this a joke? This article continues with the fully absurd “carbon narrative” that’s been imposed onto blockchain even though huge amounts of NFTs are being minted on the Tezos chain, which used orders of magnitude below Ethereum’s energy usage. Minting an NFT on Tezos is something like turning your phone on in terms of energy usage. Please, let’s stop with the wild misinformation - not all NFTs are made the same w…

> Is this a joke? I don't think it's fair to call it a joke, but if your intention is to shut down discussion that works. There is a robust discussion about blockchain energy usage which doesn't appear to be ideological, but I don't know enough yet to say.

There are multiple blockchain implementations, many of which now use virtually 1000x less energy than the previous gen. The whole point of the energy consumption was the so called Proof Of Work system, which has been replaced in multiple new blockchains (Polkadot, Tezos, Algorand) with Proof of Stake which has comparatively nil energy usage. Algorand has actually promised to be carbon Negative by buying up carbon credits.

The Carbon narrative at this point is really only applicable to two blockchains - Ethereum and Bitcoin. Bitcoin has virtually no smart contract usage, while Ethereum is now in the process of moving towards a Proof of Stake system. The carbon narrative is just that, a narrative.

I won’t even try to defend Bitcoin as I find it loathsome in every way.

Re: CNN is selling public domain images as NFTs

#22

Post by kranke155 »

BeKindAndLearn wrote: post #19
JumpCrisscross wrote: post #15

Earlier quoted context omitted.

Agreed. Don’t see the problem with this. The joke is on the people buying these.

I have a couple issues as a third party: 1. NFTs and cryptocurrency have avoided being heavily regulated so far, and it seems businesses have begun pulling out there "history of fraud and market manipulation", textbooks. We have enough of an issue with bottom-to-top flows of wealth right now that just poo-pooing bad behavior because the people being scammed or stupid or arrogant doesn't exactly seem constructive. Esp…

Proof of Stake (PoS) is here and it is being used by Ubisoft/Tezos. Literally the only blockchain left to convert is Ethereum, all the other NFT chains - Tezos, Algorand, Solana - are PoS.

Seriously criticising blockchain due to energy usage will age like milk, considering what’s happening. Everyone is in PoS expect Ethereum. Your whole argument here is just a criticism of the Ethereum blokchain.

Re: CNN is selling public domain images as NFTs

#23

Post by mwattsun »

kranke155 wrote: post #21
mwattsun wrote: post #20

Earlier quoted context omitted.

> Is this a joke? I don't think it's fair to call it a joke, but if your intention is to shut down discussion that works. There is a robust discussion about blockchain energy usage which doesn't appear to be ideological, but I don't know enough yet to say.

There are multiple blockchain implementations, many of which now use virtually 1000x less energy than the previous gen. The whole point of the energy consumption was the so called Proof Of Work system, which has been replaced in multiple new blockchains (Polkadot, Tezos, Algorand) with Proof of Stake which has comparatively nil energy usage. Algorand has actually promised to be carbon Negative by buying up carbon cre…

Then it appears the complaint that NFTs using too much electricity that you see on Twitter a lot is about Ethereum doing proof of work, which it won't much longer as it transitions to proof of stake. I'm really interested in Chia, which is proof of space. I wouldn't give it much consideration except it's by Bram Cohen who did BitTorrent.

Re: CNN is selling public domain images as NFTs

#24

Post by jollybean »

kranke155 wrote: post #17
mwattsun wrote: post #11

I understood NFTs better after reading this, what seems to me, fair and objective article and afterwards really don't see much utility in them. I can see how they might serve a purpose in a very narrow, specialized set of circumstances. https://www.ask.com/culture/what-are-non-fungible-tokens-nft...

Is this a joke? This article continues with the fully absurd “carbon narrative” that’s been imposed onto blockchain even though huge amounts of NFTs are being minted on the Tezos chain, which used orders of magnitude below Ethereum’s energy usage. Minting an NFT on Tezos is something like turning your phone on in terms of energy usage. Please, let’s stop with the wild misinformation - not all NFTs are made the same w…

BTC usage of enormous amounts of electricity is not a joke, no.

Re: CNN is selling public domain images as NFTs

#25

Post by jollybean »

kranke155 wrote: post #21
mwattsun wrote: post #20

Earlier quoted context omitted.

> Is this a joke? I don't think it's fair to call it a joke, but if your intention is to shut down discussion that works. There is a robust discussion about blockchain energy usage which doesn't appear to be ideological, but I don't know enough yet to say.

There are multiple blockchain implementations, many of which now use virtually 1000x less energy than the previous gen. The whole point of the energy consumption was the so called Proof Of Work system, which has been replaced in multiple new blockchains (Polkadot, Tezos, Algorand) with Proof of Stake which has comparatively nil energy usage. Algorand has actually promised to be carbon Negative by buying up carbon cre…

"which has been replaced" - no, because people are still using the 'old way' in which case it's besides the point: blockains are still needlessly consuming copious amounts of energy.

There is no 'carbon narrative' there is just a reality that BTC is consuming vast amounts of energy.

Re: CNN is selling public domain images as NFTs

#26

Post by withinboredom »

kranke155 wrote: post #22
BeKindAndLearn wrote: post #19

Earlier quoted context omitted.

I have a couple issues as a third party: 1. NFTs and cryptocurrency have avoided being heavily regulated so far, and it seems businesses have begun pulling out there "history of fraud and market manipulation", textbooks. We have enough of an issue with bottom-to-top flows of wealth right now that just poo-pooing bad behavior because the people being scammed or stupid or arrogant doesn't exactly seem constructive. Esp…

Proof of Stake (PoS) is here and it is being used by Ubisoft/Tezos. Literally the only blockchain left to convert is Ethereum, all the other NFT chains - Tezos, Algorand, Solana - are PoS. Seriously criticising blockchain due to energy usage will age like milk, considering what’s happening. Everyone is in PoS expect Ethereum. Your whole argument here is just a criticism of the Ethereum blokchain.

It’s generally a good idea to state what an abbreviation is before using it. POS may mean Point of Sale, piece of shit, petty officers, etc. I think you mean “proof of stake” but it took a bit of digging around to guess that.

Re: CNN is selling public domain images as NFTs

#27

Post by kranke155 »

withinboredom wrote: post #26
kranke155 wrote: post #22

Earlier quoted context omitted.

Proof of Stake (PoS) is here and it is being used by Ubisoft/Tezos. Literally the only blockchain left to convert is Ethereum, all the other NFT chains - Tezos, Algorand, Solana - are PoS. Seriously criticising blockchain due to energy usage will age like milk, considering what’s happening. Everyone is in PoS expect Ethereum. Your whole argument here is just a criticism of the Ethereum blokchain.

It’s generally a good idea to state what an abbreviation is before using it. POS may mean Point of Sale, piece of shit, petty officers, etc. I think you mean “proof of stake” but it took a bit of digging around to guess that.

Altered for clarification you’re right.

Re: CNN is selling public domain images as NFTs

#28

Post by kranke155 »

jollybean wrote: post #25
kranke155 wrote: post #21

Earlier quoted context omitted.

There are multiple blockchain implementations, many of which now use virtually 1000x less energy than the previous gen. The whole point of the energy consumption was the so called Proof Of Work system, which has been replaced in multiple new blockchains (Polkadot, Tezos, Algorand) with Proof of Stake which has comparatively nil energy usage. Algorand has actually promised to be carbon Negative by buying up carbon cre…

"which has been replaced" - no, because people are still using the 'old way' in which case it's besides the point: blockains are still needlessly consuming copious amounts of energy. There is no 'carbon narrative' there is just a reality that BTC is consuming vast amounts of energy.

BTC is its own problem. I am talking only about NFTs and chains that make them possible. Major NFT markets now exist in Ethereum, Tezos, Solana and Algorand blockchains. Ethereum is the only one that has this problem and it’s working on ending it through an upgrade.

Re: CNN is selling public domain images as NFTs

#29

Post by kranke155 »

jollybean wrote: post #24
kranke155 wrote: post #17

Earlier quoted context omitted.

Is this a joke? This article continues with the fully absurd “carbon narrative” that’s been imposed onto blockchain even though huge amounts of NFTs are being minted on the Tezos chain, which used orders of magnitude below Ethereum’s energy usage. Minting an NFT on Tezos is something like turning your phone on in terms of energy usage. Please, let’s stop with the wild misinformation - not all NFTs are made the same w…

BTC usage of enormous amounts of electricity is not a joke, no.

Not relevant since BTC has nothing to do with NFTs.

Re: CNN is selling public domain images as NFTs

#30

Post by 0xcde4c3db »

kranke155 wrote: post #28
jollybean wrote: post #25

Earlier quoted context omitted.

"which has been replaced" - no, because people are still using the 'old way' in which case it's besides the point: blockains are still needlessly consuming copious amounts of energy. There is no 'carbon narrative' there is just a reality that BTC is consuming vast amounts of energy.

BTC is its own problem. I am talking only about NFTs and chains that make them possible. Major NFT markets now exist in Ethereum, Tezos, Solana and Algorand blockchains. Ethereum is the only one that has this problem and it’s working on ending it through an upgrade.

> Ethereum is the only one that has this problem and it’s working on ending it through an upgrade.

It might decline in popularity, but it's unlikely to actually end just because PoS is deployed. Someone will almost certainly rebrand the current PoW-based Ethereum chain+software and continue to maintain and promote it. This already happened once because the Ethereum principals rewrote history after their favorite smart contract turned out to have a major exploit [1] [2].

[1] https://en.wikipedia.org/wiki/The_DAO_(organization)

[2] https://en.wikipedia.org/wiki/Ethereum_Classic

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