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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

#81

Post by doopy1 »

emilsedgh wrote: post #55
rejor121 wrote: post #22

Nobody could see this coming! Lol Seriously, crypto has yet to solve any real world problems I’ve faced. And NFTs are just the worst. Money laundering schemes at best. If I can’t buy an apple easily with crypto, it’s useless.

Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value). But it seems that some people thought it fixes the "i want to get rich fast" problem, and was bloated as a result. It was never meant for that problem.

No realistic takes on crypto allowed on HN, you might get banned.

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

#82

Post by doopy1 »

nikanj wrote: post #32
rejor121 wrote: post #22

Nobody could see this coming! Lol Seriously, crypto has yet to solve any real world problems I’ve faced. And NFTs are just the worst. Money laundering schemes at best. If I can’t buy an apple easily with crypto, it’s useless.

Fully anonymous global ransomware would be really hard without cryptos. Monetizing hacked boxes would be much tougher if you could not turn them into Monero miners.

It's not fully anonymous even WITH crypto. They have call centers. Banning crypto won't make ransomware go away, it will just increase the cost of ransom.

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

#83

Post by cratermoon »

yawnxyz wrote: post #73
jjtheblunt wrote: post #65

Earlier quoted context omitted.

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

but you can order a print of the Mona Lisa very easily for like $15

The loss of fidelity between the physical original and a $15 print is comparable to 10,000 generations of jpg decoding and re-encoding.

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

#84

Post by burnished »

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…

re: C, it was also a restaurant review and a pretty ringing endorsement.

When I got to the end all I could think was "weird yelp review". I really enjoyed it.

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

#85

Post by soared »

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, it’s koolaid flavored like money with an anti establishment label on it.

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

#86

Post by arcticbull »

elif wrote: post #68
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.”

Do you have a citation for that?

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

#87

Post by hnthrow1010 »

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.

>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.

It is because blockchains cannot actually be used to do any of those cool tech things in any meaningful way. If you try to build any of those things on top of a blockchain you will realize quickly that blockchains are bad solution. The only purpose of them is to pump up the value of a casino token which is then used to pay a tax to the operators of the network. It's no surprise that after this nonsense you're only left with irrational actors.

And that is only for the average user; for the whales, the purpose of them appears to be mainly profiting off of massive amounts of fraud and criminal activity while maintaining the plausible deniability of being able to say "technically we don't control the blockchain so we're not responsible".

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

#89

Post by mnd999 »

rglover wrote: post #34
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…

> exactly the force needed to distribute crypto more widely into more hands Yes, but not "crypto." Bitcoin. The entire crash was due to VCs and hedge funds overleveraging into shitcoins [1]. It started with Luna and that created a domino effect for the rest of it. Sprinkle on the panic typical to all markets and kablamo. In essence, that's good (albeit painful to some degree) because it's a truly free market. Bad pla…

Bad players will be back next week with a better con.

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

#90

Post by jameshart »

throw_nbvc1234 wrote: post #54
jameshart wrote: post #31

Earlier quoted context omitted.

Are you sure? Certainly the first person to buy a bored ape from BAYC, they definitely entered into a legal contract with BAYC that granted them a copyright license. But if you bought a Bored Ape NFT from someone else, did the sale contract you made with them definitely include another copyright license transfer? Or did you just buy an NFT? What if the previous owner of your Bored Ape, while they held the copyright,…

I don't think they're transferring the copyright but granting IP and commercial rights to the NFT holder. As many of the other commenters are pointing out, this isn't the typical way NFT's work but some are like this. Just like some NFT's don't point to a url but either are stored on chain (cryptopunks) or via content-based addressing (IPFS hash). https://www.businesswire.com/news/home/20220311005470/en/Yug...

The problem is when you buy a second hand bored ape, you don’t have any direct contract with BAYC.

They might be able to enforce terms of their original contract on the first party buyer - ‘once you sell the ape you no longer have this license’. But they have no contractual relationship (no ‘privity’) with you.

Perhaps possession of the ape entitled you to go to BAYC and get a license contract?

That’s great, so long as BAYC 1) continues to honor that agreement (and since you have no contract with them to begin with there’s nothing obliging them to do so) and 2) continues to exist. If they go under and their copyright in their apes gets auctioned off, good luck finding whoever acquired your ape and persuading them that since you own a hash in a blockchain they really have to grant you a license to use that ape.

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