131–140 of 253 posts
We would do well to start separating the mechanism that stores value from the mechanism of exchange.
That's why I think something like GNU Taler backed by ordinary dollars is a much better way for selling burgers and pizza in any foreseeable time-frame.
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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…
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.
If you can't use it to keep armed men authorized to use deadly force from putting you in a cage for the rest of your life it will at best be peripheral. That's why people use the currency of their nation. They must pay taxes and fees to exist as a part of society. Not doing so means you either fall off the social ladder or are imprisoned and have your life destroyed. It's one thing that Modern Monetary Theory gets ri…
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Yes, but in real life blame doesn't matter. What matters is the alternative (a hardwired credit card terminal or cash) would've worked, and this didn't.
A real cryptocurrency wallet also would have worked.
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.
Not fast. Most cryptocurrencies have unbearably slow transaction or confirmation times. Maybe if you are buying a car, they will be confirmed by the time the paperwork is done. Even with initiatives like the lightning network, it's still slow. So much so that some of the major exchanges will tally your transactions off-chain, to be confirmed later.
> cheap
It really isn't. Be it gas fees or computational power
> secure
Eh, depends. Surely the transaction itself may be from the blockchain's viewpoint. But if your coins get stolen or your exchange gets hacked you really have no recourse. And that's just one issue. And before anyone says "hardware wallet", exploits have been found for those as well, assuming they were even secure to begin with.
> anonymized
They are not anonymous. With a few exceptions, all transactions are visible in the chain, forever. This works as long as you never need to convert to/from fiat. The moment you do, your identity is exposed - even retroactively. It's way worse than cash. Tumblers only help so much.
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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.
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The loss of fidelity between the physical original and a $15 print is comparable to 10,000 generations of jpg decoding and re-encoding.
The original you see today isn’t the original that would have been seen immediately after it was painted. Mona Lisa is pretty crap anyway, if you ever find yourself in the Louvre, look at what’s hung on the opposite wall. Now that is an impressive painting.
> 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.