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Digital collectibles on Instagram is winding down

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Re: Digital collectibles on Instagram is winding down

#141

Post by dgellow »

lying4fun wrote: post #137
dgellow wrote: post #112

Earlier quoted context omitted.

But NFTs aren’t about buying art. You buy a pointer to something, in this case the something is an instagram post containing the asset. A marketplace like bandcamp would be more interesting IMHO, I regularly buy digital artworks from games or movies, that’s more analogous to buying an album on bandcamp.

Its like saying you are not buying steam games, you are buying pointers to those games. I would say that you are in fact buying games/art, but doing so in a closed environment/ecosystem. An even better analogy is buying skins inside a game The marketplace you propose could be interesting, but IG already existed with a huge number of artists who’ve already had a following/status/lore. Also there is the exposure to a t…

On steam you are buying licenses and digital assets. An NFT is a pointer to something, not the thing it points to. People who bought NFT of instagram posts own a pointer to this post, and that’s it. It’s quite evident now they are winding down the feature, people who bought NFTs of instagram posts own a pointer registered on a distributed ledger that has no use anymore. You can trade it, but without Instagram support it lost its social value. They never bought the asset, they never engaged in a contractual relationship with the artist.

What you seem to want is a kind of tipping or patronage system integrated with Instagram if I understand correctly? Sounds like a cool way to support artists. NFTs are a very contrived way of achieving this.

Re: Digital collectibles on Instagram is winding down

#142

Post by illiarian »

DANmode wrote: post #138
illiarian wrote: post #132

Earlier quoted context omitted.

> Can also easily be said in a new conversation every year about new types of databases, frontend/other frameworks. I a) should be said, b) is often said, and c) more often than not is > Just isn't a compelling or concise enough argument for me That is not the entirety of the argument. But in true crypto-proponent fashion you skip from context from context, from tangent to tangent hoping to forget and ignore the gist…

I would not be surprised if US FedNow uses it now or later in their offering, launching this year. I wish you hadn't spent so much time fighting a straw man in my place, we might have been able to talk any sort of tech.

> I would not be surprised if US FedNow uses it now or later in their offering, launching this year.

"if", "sooner or later". Any ource of evidence for your wishful thinking?

> I wish you hadn't spent so much time fighting a straw man in my place

That's the problem with any crypto proponents: they have only demagoguery and wishful thinking instead of arguments. I literally started with skepticism that there are any people doing anything useful in crypto space.

Instead of "taking technology" you provided zilch (as I explained here: https://news.ycombinator.com/item?id=35505598).

Instead of "talking technology" you're saying "oh, there's absolute lack of any evidence, but I believe that FedNow will use ZK proofs" because if you believe strongly enough this will surely happen.

And so on. But sure, it's me who's fighting strawmen, and not crypto space profucing tons of bullshit.

Re: Digital collectibles on Instagram is winding down

#143

Post by theK »

illiarian wrote: post #135
theK wrote: post #130

Earlier quoted context omitted.

Oh, no I didn't talk about the "mythical builders" I talked about the actual builders. The crypo space has become very big in the past two cycles but every techie should be easily able to pick a decentralized chain, look at its community and identify those who build from those who grift.

> Oh, no I didn't talk about the "mythical builders" I talked about the actual builders. And those are? > look at its community and identify those who build from those who grift. Ah. "Just look at the discords" argument again. I'm having this conversation in the sibling thread. Let me summarise: This is equivalent to "just sift through millions tons of shit before maybe finding something worth looking at (which invar…

Me and others have already told you on multiple posts, the ecosystem is too big to just start pointing out random stuff.

Also, I really could not be bothered to go out of my way to compile examples just to feed a troll like you. DYOR and please stop perpetuating closed discussions.

Re: Digital collectibles on Instagram is winding down

#144

Post by theK »

illiarian wrote: post #134
theK wrote: post #129

Earlier quoted context omitted.

Okay, so you are 50ly away from earth. There are only two possible scenarios here 1. You and "your guys" have low delay comms to home which means you have network sync and so everything is dandy 2. You and your guys have delayed comms so everything relating to state back on earth is time delayed (ie: you live in the past when it comes to things related to earth) in this case it only makes sense to talk in the context…

> You and your guys have delayed comms so everything relating to state back on earth is time delayed (ie: you live in the past when it comes to things related to earth) in this case it only makes sense to talk in the context of that past So there's literally no point. Because that valuable thing is needed now, not X years in the future when the sync happens. The whole chain thing literally relies on fast internet ava…

You don't seem to understand how relativism works so I will not continue amusing your strenuous try at a counter argument. You have gotten your answers from me and others in this community. Either actually comprehend them or leave it alone.

Re: Digital collectibles on Instagram is winding down

#145

Post by jacknews »

theK wrote: post #31
tetrisgm wrote: post #4

What's interesting here is that it's not really affecting the perception of people who believe in web3. As someone who's working on a decentralized product, I speak with nft creators and collectors every day. They see this as a confirmation that Meta wasn't really in. There was also a perception that Polygon NFTs aren't as valuable. Interestingly, Reddit has managed to sell Polygon based profile pictures fine, and th…

I think there are two issues at play in the current NFT space, both exacerbated by the get-rich-quick potential of NFTs 1. NFTs as ownership standards are not there yet. Even on ETH, there are significant compatibility issues between NFT minters and discussion about downsides of the diverse storage architectures and ownership systems. 2. Classical business is still in flailing hands mode when it comes to adoption of…

I get why people view crypto as nothing but scam, it's certainly mostly scam, but there's a glimmer of an actual use there if people care to look.

AI is going to give us a crisis of authenticity, and here we have a tool that might address it.

Re: Digital collectibles on Instagram is winding down

#146

Post by [deleted] »

illiarian wrote: post #114
kordlessagain wrote: post #79

Earlier quoted context omitted.

Crypto is useful. A very long time ago there was a conversation about killer use cases. People on the ethereum side of the room thought programmable chains were it. People on the Bitcoin side said it was micropayments and script based post dating. I said that it was likely paying for compute resources that would be a killer use case. Implementing 402s would be that manifest: https://github.com/lightninglabs/aperture…

> I said that it was likely paying for compute resources that would be a killer use case. As if we didn't have ways to pay for compute resources already. > Now we’re moving deep into the AI markets, this will be a thing, combining both. Of course it won't. > That said, con artists will still try to hustle others. Indeed. By saying things like "innovative ways to pay for compute resources" and "our AI-enabled crypto b…

[deleted]

Re: Digital collectibles on Instagram is winding down

#147

Post by kordlessagain »

illiarian wrote: post #114
kordlessagain wrote: post #79

Earlier quoted context omitted.

Crypto is useful. A very long time ago there was a conversation about killer use cases. People on the ethereum side of the room thought programmable chains were it. People on the Bitcoin side said it was micropayments and script based post dating. I said that it was likely paying for compute resources that would be a killer use case. Implementing 402s would be that manifest: https://github.com/lightninglabs/aperture…

> I said that it was likely paying for compute resources that would be a killer use case. As if we didn't have ways to pay for compute resources already. > Now we’re moving deep into the AI markets, this will be a thing, combining both. Of course it won't. > That said, con artists will still try to hustle others. Indeed. By saying things like "innovative ways to pay for compute resources" and "our AI-enabled crypto b…

I’ve found that when I don’t state things as fact on here that I don’t end up getting as much ire, but sometimes I just know what I do is true and am too lazy to explain it in my glee in seeing it manifest.

Time will tell, but as of now there are still no killer uses for crypto, other than hustling others.

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