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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

#61

Post by addicted »

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.

Even if that’s the case, does anyone think procedurally generated computer art of Bored Apes would be worth even a fraction of a few dollars if it wasn’t for crypto marketing making people believe they can sell it for much more? In other words, the only value these things have is the belief that a bigger sucker will come around who will pay even more for it.

And has it actually been copyrighted with the USPTO and the various copy protection agencies across the world? Because if not, then who will actually enforce it and what legal backing does that copyright have?

And if it has been copyrighted, then what value does putting it on a blockchain add when the copyright enforcement is being maintained by the same entities that would have done it if it was on Shutterstock?

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

#62

Post by BoorishBears »

rscnt wrote: post #41
djbusby wrote: post #6

Earlier quoted context omitted.

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 a…

It's great to see a perspective from the ground on this.

I'm originally from an "emerging market" (aka 3rd world country) and I don't share the enthusiasm crypto bros do about emerging markets interacting with crypto.

It's rarely from a beneficial place. Crypto is absolutely perfect to allow a corrupt government to quietly siphon the nation. No planes full of dollar bills, no heavy gold bricks. Just a movement from one digital address to another.

Sure in a pinch it might be a lifeline, but it's a flimsy lifeline and these countries need a lot more than a glorified remittance system to recover. It's fun to laugh at NFT bros trying to buy overpriced restaurant food, but last few months have likely been disastrous for a lot of very poor people.

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

#63

Post by ceejayoz »

yieldcrv wrote: post #19

These merchant adoption and abandonment stories are always implementation issues with no inspiration or education. A) Point of Sale systems have handled this "volatility" issue for an entire decade. Use an implementation that shields the merchant from volatility. They usually liquidate for you. B) Why would you list the prices in ApeCoin or Ethereum? Just show dollars and accept whatever, because A) handles whatever…

If a crypto-themed restaurant can’t get it right, what hope do the rest have?

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

#64

Post by 7ewis »

mojomark wrote: post #5
rvz wrote: post #2

> “Yes, ethereum is a currency in a way where you can exchange [non-fungible tokens, or] NFTs and stuff … but as far as buying food and all that, maybe not,” one crypto-enthusiast diner, Marc Coloma, said as he munched on fries outside the restaurant. “People want to hold onto their ethereum. They’re not gonna want to use it.” Then what is the point then? Apecoin and Ethereum certainly cannot be used for payments and…

> 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…

I agree to some extent, but there are far too many shitcoins out there and people think it's all a 'get rich quick scheme'. There's also lots of bad press about crypto scams, we have things like Terra and other stablecoins losing their peg, all these smart contract hacks etc.

Then we have all the whales and hedge funds manipulating the market, pump and dumps... it's really is the wild west out here still unfortunately. On top of all that, your parents probably think Crypto.com is the only place to buy it, and the more tech inclined may read 'not your keys, not your crypto', create a wallet and lose the keys or typo an address and lose the coins.

Plus we can't forget all the newer investors, over the past year or two. All of which are probably deep in the red right now and will sell at any opportunity when things look to start improving (and probably tell their mates to avoid it too).

I think the whole industry needs to take a step back, quietly work away for a few years, keep building things, improve security, increase trust. Drop all the DeFi farming pools with the ridiculous earn rates, stop the hype every time a new coin is launched. Get back to basics, create some real utility.

I'm not sure what the answer is on stablecoins or encouraging people to spend crypto. I think it's become too ingrained in peoples heads that crypto is an investment rather than a currency. Stablecoins were a partial answer to that, but they also kind of defeat the purpose too. We're back to trusting the US government, Tether and/or algorithmic stablecoins - which so far have proved to _not_ work. I believe it will take decades for people to stop tracking their crypto holdings and always converting it back to local currencies. Maybe we need some 'super' stable coin, that's backed by stocks, currencies (fiat and crypto) globally but not pegged to any one thing, kind of like an ETF? Is that possible algorithmically though and would governments ever legalise it and allow people to be paid in it?

I do think the tech that the crypto industry has created is great, and I do hold numerous cryptocurrencies (and am making a loss too...) but we're a long way off making prices recoveries, rebuilding trust and actually becoming useful in society.

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

#65

Post by jjtheblunt »

Uptrenda wrote: post #56
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.

It works fine with actual art but I've yet to see an NFT comparable to say: the Mona Lisa. When I got into the blockchain space ~9 years ago I would have never imagined years later people would be going crazy over pictures of jpegs. People used to discuss amazingly cool tech stuff: like SSL oracles or privacy-preserving payment protocols. Now it's all about what the price is and moronic NFTs. It's embarrassing.

is that because physical paints can't be immediately copied like a sequence of bits can?

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

#66

Post by yieldcrv »

roywiggins wrote: post #27
yieldcrv wrote: post #19

These merchant adoption and abandonment stories are always implementation issues with no inspiration or education. A) Point of Sale systems have handled this "volatility" issue for an entire decade. Use an implementation that shields the merchant from volatility. They usually liquidate for you. B) Why would you list the prices in ApeCoin or Ethereum? Just show dollars and accept whatever, because A) handles whatever…

If a crypto-themed restaurant doesn't think it's worth it, I can't see how anyone else would either. Like, this is their whole brand!

This crypto-themed restaurant didn't research a single thing, I wouldn't use it as validation or invalidation

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

#68

Post by elif »

jboggan wrote: post #53

Reminds me of a time that I played a Bitcoin poker game at some Google VP's place up in the hills with Charlie Lee and a few other early crypto luminaries in 2014. It took us over an hour to figure out sending BTC to the "buy-in" pot because most of us had 2FA enabled on our Coinbase accounts and the cell reception was so bad at that we couldn't get our confirmation texts. We ended up writing IOUs on a sheet of paper…

the first man to ever build and sell a car, recounting his critics in the transportation industry: “There’s nothing the matter with me. It’s you! You’re crazy if you think this fool contraption you’ve been wasting your time on will ever displace the horse.”

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

#69

Post by bhtru »

jboggan wrote: post #53

Reminds me of a time that I played a Bitcoin poker game at some Google VP's place up in the hills with Charlie Lee and a few other early crypto luminaries in 2014. It took us over an hour to figure out sending BTC to the "buy-in" pot because most of us had 2FA enabled on our Coinbase accounts and the cell reception was so bad at that we couldn't get our confirmation texts. We ended up writing IOUs on a sheet of paper…

That's more on simply poor cell service if anything at all though no?

The tech even then seemingly worked for you then. Your anecdotal is comparable to saying students at a college not being able to add one another on Facebook in it's early days, because the campus Wi-Fi was on the fritz.

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

#70

Post by labrador »

heyitsguay wrote: post #51
labrador wrote: post #45

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 we…

Yeah but the hippie movement was about realizing the untapped potential for social freedoms locked away behind a repressive and outdated society. (Before it burned out and dissipated) Crypto is about shallowly co-opting the patterns of discourse of genuine social movements to try and get rich quickly.

I agree with you. I was just trying to see it through the eyes of a young enthusiast
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