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At the Bored Ape restaurant, your ApeCoin is no good now

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Re: At the Bored Ape restaurant, your ApeCoin is no good now

#41

Post by rscnt »

djbusby wrote: post #6
BoorishBears wrote: post #3

Earlier quoted context omitted.

It didn't take a crypto crash, crypto has been a failed currency since BTC hit a dollar... Extreme deflation is arguably more deadly than hyperinflation. If you know that by holding a dollar today, you can get 2 dollars worth of goods tomorrow, why are you going to spend a dollar? Likewise, once Bitcoin went from fractions of a penny to a dollar, what incentive was left to spend it? You could argue an ideological wan…

BTC is official in El Salvador.

Most people in my circle that pay taxes and hold crypto disapprove this.

People are overall indifferent or disappointed with the decision.

We don't know who or whom holds the BTC that was bought with tax money.

It just takes a couple day of rain to have the capital flooded and our president is busy talking about crypto.

Web services build by the government are a disaster, can't handle a decent volume of requests or are simply too buggy.

With our taxes we've financed "chivo", the entire thing has been a disaster they spent an awful amount of dollars to have basically nobody use it.

Not even crypto bros use the chivo apps, most transactions can be attributed to people doing "scalping".

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#42

Post by teekert »

remram wrote: post #25
raylad wrote: post #16

Earlier quoted context omitted.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

You get copyright on a software-generated image? What's the point?

This has nothing to do with copyright. You own a piece of the blockchain, sad thing is that thing is not even an image or anything, its a url, and its target can change. It’s like a collective delusion.

This emperor has no clothes, but still mant people choose to believe.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#43

Post by imachine1980_ »

neilalexander wrote: post #26
raylad wrote: post #16

Earlier quoted context omitted.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

In many NFTs, the content itself is not covered by a hash (although the URL pointing to it is) so it would be incredibly difficult to prove that “ownership” in any case?

Would be more fun to ddos the hosting, or buy the domain

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#44

Post by koolba »

nikanj wrote: post #37
eknkc wrote: post #7

Earlier quoted context omitted.

Why would anyone want to buy food with crypto anyway? Can’t understand that. It is not faster. It is not cheaper to transfer. It is not even as anonymous as cash I’d say. I can see why would someone buy stuff online using crypto but this does not make much sense.

If you got cryptos from selling contraband, and would rather not pay taxes/leave a paper trail from converting to fiat

Spending crypto at a spot where you in person ate a burrito leaves its own paper trail.

I guess you could make an onion router style delivery network to get your meal, but you’d also have to convince thousands of others to use it as well to hide amongst them.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#45

Post by labrador »

Crypto, web3 and NFTs are social movements. They are the crowd that knows things. As the hippies used to say about LSD and counterculture, "You're either on the bus, or off the bus."

Crypto, web3 and NFTs are spiritual tech that is throwing off the shackles of corporate control and making a new society. It's an identity. It's a brand. It's a community. If I was in my 30's I'd probably be into it. I would know damn well there was a lot of hype, but so what, it's fun and maybe something amazing will come out of it. Meantime, it's a party, and we can all take turns at the mic making deep pronouncements about how we're empowering the forgotten poor of the world. What's not to like? Who cares if we lose money. It's the price of entry to the party.

Edit: This isn't what I believe. This is me trying to see it through the eyes of a young enthusiast

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#46

Post by ceejayoz »

pueblito wrote: post #24
raylad wrote: post #16

Earlier quoted context omitted.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

No, with copyright law you get ownership, the nft is just a public receipt

The copyright holder is free to write up a license that says the current holder of the NFT may use it as if they hold the copyright, though. Many NFTs don’t, but it’s possible.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#47

Post by rglover »

clpm4j wrote: post #8
mojomark wrote: post #5

Earlier quoted context omitted.

> That is a complete failure and it just took one crypto crash. Disclosure: I hold virtually no crypto (a few thousand XRP) As I watch this show from the sidelines, I wonder if the latest crash (and no doubt future crashes) isn't exactly the force needed to distribute crypto more widely into more hands, normalizing to some roughly steady state value. After several swings of the pendulum, you end up at some more or le…

Who does the distribution? The vast majority of people in the world can't afford to buy crypto. The people who hold most of the BTC, ETH, SOL, and whatever other major coins were already rich before they got into it. Maybe single digit thousands of people went from non-rich to rich through buying and holding crypto, but that's a tiny fraction.

> The vast majority of people in the world can't afford to buy crypto.

You can buy fractions of it, meaning the affordability is relative to the individual and what they can spend.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#48

Post by Bjartr »

raylad wrote: post #16
choward wrote: post #15

> Perhaps that was what Nguyen was thinking when he spent more than $330,000 on the various ape NFTs on display at his restaurant. Wow. I can't imagine what anyone is thinking when they pay that much to brag about some random blockchain that says they own an arbitrary URL that may or may not link to an image.

That actually doesn't apply to Bored Apes. With those NFTs you get copyright ownership of the image.

It's more complicated than that.

> The Bored Ape Yacht Club terms of service grant a commercial license to exploit the copyright of each Bored Ape to the owner of the relevant NFT.

So the holder of a Bored Ape NFT has a license to commercially use the off-chain image associated with the NFT by way of an on-chain URL. That license is granted by the actual copyright holders of all of the Bored Apes.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#49

Post by el-salvador »

BoorishBears wrote: post #17
fortzi wrote: post #13

Earlier quoted context omitted.

BTC is an official currency in San Salvador, which is arguably indeed a failed state. I’d argue, though, that it’s just another symptom of the reasons which made it a failed state in the first place (populism, corruption, etc.)

I largely agree, I mean the president that got it through last year also violated their constitution to get another term and was upheld by his own puppet court... But BTC hasn't helped at all. It's not even _the_ official currency, just one alongside USD, and yet it's already accelerated the country towards defaulting on their bonds. While all this goes down the president is still making noise about a "Bitcoin city".…

>It's not even _the_ official currency, just one alongside USD, and yet it's already accelerated the country towards defaulting on their bonds.

And its day to day usage is very low.

There was a spike in use after $30 sign up bonus and during the 2021 bitcoin conference and following months which attracted tourism from bitcoiners though.

Re: At the Bored Ape restaurant, your ApeCoin is no good now

#50

Post by crooked-v »

gkoberger wrote: post #23

I dislike crypto, especially NFTs. But here's my best attempt at understanding. BAYC transfers ownership of IP for the ape you've bought. It's not just a picture of the ape on OpenSean; you can use it. There's something really fascinating about this. It's one character, but it's also broadly part of the larger ecosystem. We're so used to, say, Disney owning IP. But what if you could spend $300k and have a restaurant…

> BAYC transfers ownership of IP.

Does it, though?

> Subject to your continued compliance with these Terms, Yuga Labs LLC grants you a worldwide, royalty-free license to use, copy, and display the purchased Art, along with any extensions that you choose to create or use, solely for the following purposes: (i) for your own personal, non-commercial use; (ii) as part of a marketplace that permits the purchase and sale of your Bored Ape / NFT, provided that the marketplace cryptographically verifies each Bored Ape owner’s rights to display the Art for their Bored Ape to ensure that only the actual owner can display the Art; or (iii) as part of a third party website or application that permits the inclusion, involvement, or participation of your Bored Ape, provided that the website/application cryptographically verifies each Bored Ape owner’s rights to display the Art for their Bored Ape to ensure that only the actual owner can display the Art, and provided that the Art is no longer visible once the owner of the Bored Ape leaves the website/application.

That's not IP ownership, just a conditional license, despite their talk of "owning" and "purchasing".

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