211–220 of 221 posts
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Non-fungible tokens are not about payment, they are about cryptographic ownership of uniqueness.
>they are about cryptographic ownership of uniqueness My web browser has a novel and advanced attack on the cryptosystem built into it I have dubbed the right-click-copy-image attack. I’ve even managed to replicate it on my phone.
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I think that art-to-NFT flow is not really about storing value long-term, but about money laundering. To be more specific, the main purpose of the "object" is to provide plausible-deniability for one half of an exchange where the other half can't be shown because it's illicit.
A popular hot take, but if that were the case, the art market should have collapsed when NFTs were booming, and recovered after they disappeared. Unless you can give a credible alternative that has eclipsed both.
How would one measure "the art market" in a way that can be graphed?
> should have collapsed
Through what mechanism would it "collapse? Laundering tricks don't involve bidding wars or high volumes of items. Consider this scenario:
1. Alice wants to transfer $5m to Bob in exchange for something off the books.
2. Bob goes and buys anything he can find that seems to have a consistent ~50m price point. Since Bob's task doesn't require any specific item, he doesn't get into bidding wars to drive up prices.
3. Bob privately sells it to Alice, who deliberately pays a higher amount of $55m. No auction, no bidding wars.
4. Alice can either resell the item to unrelated people for probably ~$50m, or keep it around for a bit to provide either plausible-deniability or a future tool for an inbound cloaked transaction with someone else.
How would that kind of activity charge up "the art market" in a way that is easy to measure?
> when NFTs were booming
Most of that boom was other speculation. My point is that an NFT by cyber-Rembrandt is a lot more convenient than certificate a real Rembrandt held in a freeport as its ownership shifts.
The trick is getting something where the generally-accepted value is high enough that transactions can plausibly be hidden as noise in the signal.
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You can also just commission the art you need, a few hundred dollars is damn good money in much of the world( even in the US, if a small painting takes a few hours to make, 400$ can be a fair price). That said, I feel this article is really about our active recession. Rich people are cutting back too it seems.
the materials (custom canvas, paints, brushes, multiple layers of varnish, packaging, shipping) are expensive and they have been getting very much more expensive since COVID. so a few hundred $ for a small painting is not a lot.
That's actually the only art I've commissioned so far.
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By saying this, you must understand that many more people may die for this purpose, and even yourself.
Did you read what he said? You are guaranteeing the war will continue if you reward an invasion with land.
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Did you read what he said? You are guaranteeing the war will continue if you reward an invasion with land.
It's just lie. If, for example, NATO gives clear guarantees to join in for Ukraine in the case of next attack(if any agreement on ending the war is reached), then there will definitely not be a next attack.
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Did you read what he said? You are guaranteeing the war will continue if you reward an invasion with land.
It's just lie. If, for example, NATO gives clear guarantees to join in for Ukraine in the case of next attack(if any agreement on ending the war is reached), then there will definitely not be a next attack.
According to your theoretical, Russia could attack and immediately invalidate Ukraine's ability to join NATO by re-triggering a conflict.
Come on is this stuff really that hard?
The art world is just fine. Pretentious art speculation maybe not so much. In a way, we are actually in a golden age. I lurk on social media accounts of amateur art enthusiasts around the globe with (IMHO) good taste who seek out interesting little known artists and post it on their feeds. I am introduced to so much great art that I probably would have never known about otherwise. If I see something I like, I search…
We are in a golden age for discovering art that you really wouldn't get to see otherwise. I would not even call myself a hardcore art enthusiast but I stumble upon great art all the time on Instagram, as you mentioned, from around the globe.
It's really cool.