Earlier quoted context omitted.
Which is why there are rules and layers of checks to actually IPO - another term misappropriated to ICO like currency was misappropriated for cryptocurrency to mislead; stock markets would lose all trust and credibility if they didn't curate and require due diligence.
Perhaps we should look forward to innovations like “Special Purpose Acquisition Coins” then? SPACs have gotten rid of much of the diligence traditionally part of the IPO process.
€2.6M spent for a book at auction, believed they would own the IP
141–150 of 398 posts
Re: €2.6M spent for a book at auction, believed they would own the IP
#142Re: €2.6M spent for a book at auction, believed they would own the IP
#143This is, obviously, silly. There are a lot of silly cryptostuff. Silliness aside though, this highlights a point to me. Methods of organising are (1) very important (2) relatively undiverse (3) hard to create out of whole cloth. The creation/ascendance of "modern" joint stock companies circa 1600 was (arguably) responsible for some serious revolution. The 90s produced some very interesting examples: GNU, Linux, Wikip…
The fact that cryptocurrency schemes like DAOs allow people to raise vast sums of money in very short spaces of time with no evidence of anyone involved having the ability, skills or even intention of delivering anything, seems to be fundamentally flawed to me. It seems that you are only going to attract dreamers who want to be able to get rich really quickly without having to do anything much, and I wouldn't have th…
OTOH, I think cryptocynicism may be blinding us to the possibility of doing exactly what this hapless bunch did, but actually ending up owning the copyright to something... as they intended. The road from there to something noteworthy is still long, but I don't think it's inconceivable.
As I said, silliness is prevalent. That doesn't mean something useful can't emerge. But obviously, yes, most of most of the stuff happening is a comical blend of mercenary, hapless and foolish... guided by the smell of riches.
Re: €2.6M spent for a book at auction, believed they would own the IP
#144I made the mistake of diving a bit deeper into the group who bought it and found a proposal where they are talking about literally burning the book they just bought after digitizing it for … reasons I guess [0] At this point I just hope its some sort of practical joke or whatever because this just seems a bit much. [0] https://forum.spicedao.xyz/t/nft-of-the-book-w-proof-of-jpeg...
Fuck me, they’re talking about using JPEG as an archival format before destroying the original. What is going on here.
Re: €2.6M spent for a book at auction, believed they would own the IP
#145Earlier quoted context omitted.
> Because the book remains on-chain, the book does not die, but crosses the boundary of physical to digital. It reminds me of the video game SOMA, where people upload a brain-scan of themselves to live on after some catastrophe, essentially making a digital copy of their consciousness. But because they are also still physically alive, they see the digital version of themselves as a clone, someone else. To "complete t…
SOMA was brilliant. That moment in particular I think was really thrilling, it made me consider some pretty fundamental questions about consciousness in a totally absurd setting. The setting I think helped isolate the core questions really well I felt. Trying not to spoil it by discussing it, if anyone hasn't yet you really should try it, it's a really unique experience in gaming and that's hard to come by these days…
Re: €2.6M spent for a book at auction, believed they would own the IP
#146Earlier quoted context omitted.
"Decentralized" means "out of the reach of law enforcement". Or at least that's what these people treat it as.
Hey that's pretty unfair, I was just chastised a couple days ago for implying the killer use case for the blockchain was criminality!
Re: €2.6M spent for a book at auction, believed they would own the IP
#147I made the mistake of diving a bit deeper into the group who bought it and found a proposal where they are talking about literally burning the book they just bought after digitizing it for … reasons I guess [0] At this point I just hope its some sort of practical joke or whatever because this just seems a bit much. [0] https://forum.spicedao.xyz/t/nft-of-the-book-w-proof-of-jpeg...
That's pretty insane. Oddly enough - the process in a library for digitising a copy of a book can be fairly destructive, as far as I understood from those doing it (at CUDL). The spine is chopped off, to make it easier to put it into a machine for scanning all the pages. The digital images can (should?) then be stored in a format that allows zooming, for example : https://cudl.lib.cam.ac.uk/view/MS-ADD-03967/1
The general consensus among modern librarians came around on that subject, and now this kind of destructive processes is rare and generally frowned upon. A librarian friend once explained to me there was always two "schools" among librarians:
1. Those who only value the content of books. For those, copying/digitalizing a rare book is all that is needed in order to preserve said book.
2. Those who also value the physical object of the book as a historical artifact. For those keeping rare books in good condition is also necessary for preservation.
In the middle 1900s with the mass adoption of the microfilm, the first school gained the upper hand, and many libraries conducted mass projects of microfilming and destroying historical archives. Those were mostly motivated by a false belief that books were super fragile and wouldn't last anyway (I mean, if you believe the book will fall apart on its own, then you would be less reticent about using destructive methods to make the best copy possible).
In the last few decades the tides changed, librarians realized that books are not that fragile, and can be kept pretty much indefinitely if closed and protected from humidity (and fire). Also they realized that microfilm is crap, and that copying/digitizing is a error prone process, so a lot of stuff was lost because someone skipped a page, or the film was damaged, and the original was destroyed. So the movement to keep originals grew in strength, being almost a consensus now a days, and modern digitizing processes/machines are specially designed to be gentle and non destructive.
Re: €2.6M spent for a book at auction, believed they would own the IP
#148I had commented before the other week so I'm gonna quote myself from now whenever I see NFT: > I see a whole new wave of fouls about to lose their money to ponzi schemes and over-hyped "investments", much like it happened with the bitcoin/crypto train.
Sorry to be that guy, but I got stumped by 'fouls'. You probably meant to write 'fools'.
Re: €2.6M spent for a book at auction, believed they would own the IP
#149My favorite part of this story is that they DAO has actually raised ~$8m, spent $3m on the book (10x the expected auction price), then the "core team" has started paying themselves ~$30k a month[0]. Also, how is this "decentralised" when one person owns over 50% of the voting token? [0] https://snapshot.org/#/dunedao.eth/proposal/0x2038fc240d0e85...
It's unbelievably funny and scary at the same time. This is the profile of their "Marketing Lead": https://twitter.com/YOJIMBO_KING/media Qualifications listed for their team include "Bitcoin Class of 2013", not sure if a joke or not? The impression is that this is a bunch of 13 year olds who suddenly got a windfall...
Re: €2.6M spent for a book at auction, believed they would own the IP
#150This is, obviously, silly. There are a lot of silly cryptostuff. Silliness aside though, this highlights a point to me. Methods of organising are (1) very important (2) relatively undiverse (3) hard to create out of whole cloth. The creation/ascendance of "modern" joint stock companies circa 1600 was (arguably) responsible for some serious revolution. The 90s produced some very interesting examples: GNU, Linux, Wikip…
> stupidity and creativity are often neighbors That seems to be true in movies, but in the real world new advancements are created by experts that know the basics. Serendipity is part of that, but you need to have the basic knowledge. I will concede, thou, that ideas to be rich can come from anywhere as the only metric is to convince investors, to produce something useful is not required.
I certainly wouldn't have elected to create the current blaze of cryptmadness, but the fact that most of what it produces is scams and bullshit doesn't mean nothing else can come out of it.