131–140 of 195 posts
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How can crypto be a store of value when the market price fluctuates so wildly? Bitcoin, etc fell much more in one day recently than the Turkish lira fell over many months. And one is supposedly using Bitcoin to avoid inflation in the lira?
You can save in USDT for what it's worth.
Anything but USDT. USDT is poison.
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There are no rights to Bored Ape works. They are algorithmically generated so they are public domain.
I am aware of the legal discussions around the hypotheticals, but has that actually been tested in court? Define algorithmically generated? There are certainly tools for randomizing the mix of image elements that are present in a piece of art, and combining them, but does that only apply if I used a computer to do it? What if I draw 300 reference images, photocopy them, cut them out, and sit down with a set of dice a…
> A claim based on a mechanical weaving process that randomly produces irregular shapes in the fabric without any discernible pattern.
That is so specific that I have to believe there was a court case where someone attempted to claim copyright for that kind of process.
But to answer your question to define algorithmically generated, the requirement is that “whether the ‘work’ is basically one of human authorship, with the computer [or other device] merely being an assisting instrument, or whether the traditional elements of authorship in the work (literary, artistic, or musical expression or elements of selection, arrangement, etc.) were actually conceived and executed not by man but by a machine.”
(Citation to: https://www.copyright.gov/comp3/chap300/ch300-copyrightable-..., see §313.2).
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Your not buying the rights, that's the most annoying thing about NFTs, that people don't get.
> Your not buying the rights, that's the most annoying thing about NFTs, that people don't get. You are buying the rights, but they're rights that exist in a pseudo-legal system that has no enforcement and isn't recognized by any existing legal authority. Some kind of enforcement could exist one day though. For instance, it's possible that your house in a "metaverse" might only display art for the NFTs that it verifi…
Buying an NFT is buying the right to the NFT. It's not buying the right to the art.
Even if NFTs were backed by law, so that if I use your private key to transfer the NFT to me you would be able to use the law to come after me for theft, what I stole from you wasn't the rights to the art.
What the grandparent post was complaining about was that it's not even the rights to the art.
If you buy the rights to the ape, then you can sell copies.
I suppose the holder of an NFT can sell a "copy NFT". Maybe that's the next thing. Selling an NFT of an NFT of an NFT of a Beatles song. With a holder chain making sure that whoever minted the NFT-of-NFT at the time did hold the parent NFT.
That last paragraph is of course exactly the kind of nonsense that is at the core of NFT, so you should expect these derivative NFTs to start becoming a product soon. If you can sell NFTs-of-art, why not NFTs-of-NFTs?
Anyone can sell copies of the Mona Lisa (because expired copyright). Anyone can make NFTs of it, too. Why would NFTs minted by the Louvre be more real?
To me, NFT is performance art. It makes you think about intangible ownership. But outside of being performance art it's worthless.
explain to me what crypto and NFTs are and why they are bad without knowing anything about crypto and NFTs
It's astonishing to me that people will just buy into any success story that involves crypto and NFTs. People don't question why poorly drawn pictures are being bought for thousands of dollars, don't question why there are hundreds of altcoins on the market and some "cryptocurrency experts" are supposedly "offering free tips" on investment. The whole space is rife with scams and embellishments and yet there are so ma…
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Look at Turkish Lira inflows into crypto in recent months. You'll see the value. Also check out the inflow of USD as the Federal Reserve printed trillions of new dollars
Any evidence that this represents the common man freeing himself from the economic authorities and not just the privileged class using it for capital flight and tax evasion?
The real priviliged class uses regular banking, private banking services[0], they don't need bitcoin.
It's the Engineer in Nigeria trying to conserve his 5 figures at most wealth for his family who needs Bitcoin.
The 7 or 8 figures guy just calls his nearest bank and they will give him the whole package and even launder the money for him.
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The scarcity might be artificially created, but that doesn't make it any less real.
I mean, it depends. If you live in Tokyo, the scarcity is real-real. If you live in a city, where just a re-zoning solves a lot of problems, the issue is atleast mostly solvable, even if it means shaking down a whole pyramid of government officials, and in some places, the housing crisis is bad enough, that they're aproaching the critical mass of people to make this happen.
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People question it all the time. And a house has obvious utility. It's also kind of a share in the city's future. It can be mispriced but it's not entirely based on hype.
I'm not talking about the houses, though. I'm talking about mortgages. Have you ever wondered why you can't just save up for a house and buy it with cash? Why do you need to first acquire this thing called a mortgage? What part is the bank actually playing in this transaction? You'll pay tax to them for 30 years but what exactly are you getting in return? These are the questions that need to be asked.
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Why limit it to crypto? People don't question why the value of houses seems to magically rise globally despite no tangible value being added to the assets in most cases. People don't question why Wall Street traders get rich by trading second derivatives of mortgage backed securities with each other all day. What makes a mortgage any more "real" than an NFT?
The magical value of houses has been a concern for decades (see numerous housing crash episodes) but there is a difference: the payment stream from a mortgage is enforced by laws and backed by the ability to take ownership of the mortgaged property. Perhaps a better comparison would be NFT vs mortgage _insurance_.