Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

latimes.com

Post reply on HN
Print view View original

231–240 of 253 posts

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

#231

Post by prvit »

blahblah123456 wrote: post #76
bhtru wrote: post #69

Earlier quoted context omitted.

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.

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.

Aren’t bank transfers the obvious alternative to Coinbase payments? That wouldn’t have worked.

Regular bitcoin transaction OTOH would presumably have worked just as well as credit cards.

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

#232

Post by prvit »

HWR_14 wrote: post #154
CameronNemo wrote: post #107

Earlier quoted context omitted.

A real cryptocurrency wallet also would have worked.

How would it have worked without the ability to communicate with the blockchain. I could double and triple spend to my heart's content.

Credit card payments have the same problem.

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

#233

Post by prvit »

tialaramex wrote: post #208
bhtru wrote: post #194

Earlier quoted context omitted.

Wouldn't you still need some sort connection to the greater network to use a credit card? Of course if you're speaking about cash then yes, but BTC also comes in the form of physical coins as well if you really wanted it.

> Wouldn't you still need some sort connection to the greater network to use a credit card? Nope. Reminder for those new to how credit cards actually work, there are two distinct transactions and they are not connected. Authorization transactions establish that this is, in fact, really a credit card issued by BIG BANK, and optionally that some credentials you've got are genuine (e.g. a PIN for modern chip and PIN car…

Bitcoin wallets can do the same. You can sign transactions without internet connectivity.

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

#234

Post by [deleted] »

prvit wrote: post #233
tialaramex wrote: post #208

Earlier quoted context omitted.

> Wouldn't you still need some sort connection to the greater network to use a credit card? Nope. Reminder for those new to how credit cards actually work, there are two distinct transactions and they are not connected. Authorization transactions establish that this is, in fact, really a credit card issued by BIG BANK, and optionally that some credentials you've got are genuine (e.g. a PIN for modern chip and PIN car…

Bitcoin wallets can do the same. You can sign transactions without internet connectivity.

[deleted]

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

#235

Post by ceejayoz »

knorker wrote: post #227
ceejayoz wrote: post #210

Earlier quoted context omitted.

In the case of BAYC specifically, though, the contract guarantees that. https://boredapeyachtclub.com/#/terms > When you purchase an NFT, you own the underlying Bored Ape, the Art, completely. > Subject to your continued compliance with these Terms, Yuga Labs LLC grants you an unlimited, worldwide license to use, copy, and display the purchased Art for the purpose of creating derivative works based upon the Art (“Com…

> you own the underlying Bored Ape, the Art, completely. No, you just have a license to use it according to a license. That's very clearly "not owning". It's something, but it's not owning.

Did you miss the first part? The original copyright owner is explicitly saying in their terms that you get ownership.

You’re just restricted by contract to pass on said ownership if you sell.

It’s like a house with a homeowners association. Can’t ditch the HOA by selling. Still own the house.

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

#236

Post by tialaramex »

prvit wrote: post #233
tialaramex wrote: post #208

Earlier quoted context omitted.

> Wouldn't you still need some sort connection to the greater network to use a credit card? Nope. Reminder for those new to how credit cards actually work, there are two distinct transactions and they are not connected. Authorization transactions establish that this is, in fact, really a credit card issued by BIG BANK, and optionally that some credentials you've got are genuine (e.g. a PIN for modern chip and PIN car…

Bitcoin wallets can do the same. You can sign transactions without internet connectivity.

The credit card transaction involves fungible currency, the Bitcoin transaction doesn't do that. As a result the batch operation succeeds for the credit card.

Six equivalent cards, each performing six offline transactions for $5 each results in thirty six $5 transactions, $180 from one account to various merchants. Settlement transactions can complete more or less instantly or take several days, you don't care and your card isn't involved.

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

#237

Post by arcturus17 »

LeafItAlone wrote: post #225
arcturus17 wrote: post #118

Earlier quoted context omitted.

> Crypto does solve a few real world issues (fast, global, cheap, secure, anonymized transfer of value). I pay people from Argentina to Ukraine and there are myriad ways I can transfer them money quickly (seconds, sometimes), cheaply (down to fractions of cent on the dollar) and securely without resorting to crypto. I have no need for total anonymity but from what I hear crypto is not great on that front, either.

Can you share your methods of doing this? I’m naive and unfamiliar with payments that are settled in seconds and also fractions of a cent to conduct, but would like to learn.

I can do an instant SEPA transfer within the EU for a flat fee of 20€… For 5,000€ that’s literally fractions on the cent. There are plenty of other options if you dig deep into permutations of banking systems, neobanks, payment apps, etc.

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

#238

Post by knorker »

ceejayoz wrote: post #235
knorker wrote: post #227

Earlier quoted context omitted.

> you own the underlying Bored Ape, the Art, completely. No, you just have a license to use it according to a license. That's very clearly "not owning". It's something, but it's not owning.

Did you miss the first part? The original copyright owner is explicitly saying in their terms that you get ownership. You’re just restricted by contract to pass on said ownership if you sell. It’s like a house with a homeowners association. Can’t ditch the HOA by selling. Still own the house.

This is all legal theatre to distract from the fact that there is no ownership change. Which is what I said.

You yourself said that all you get is a license, not ownership.

That is not even remotely close to the legal basis under which HOAs have power, which is a lien on the house, not with you.

House: You bought a house with an HOA lien.

NFT: You licensed (do not own) an image. Like YOU quoted there is no ownership change at any point.

These are not even remotely similar.

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

#239

Post by prvit »

tialaramex wrote: post #236
prvit wrote: post #233

Earlier quoted context omitted.

Bitcoin wallets can do the same. You can sign transactions without internet connectivity.

The credit card transaction involves fungible currency, the Bitcoin transaction doesn't do that. As a result the batch operation succeeds for the credit card. Six equivalent cards, each performing six offline transactions for $5 each results in thirty six $5 transactions, $180 from one account to various merchants. Settlement transactions can complete more or less instantly or take several days, you don't care and yo…

What’s the issue with Bitcoin in this context?

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

#240

Post by dwild »

chrismcb wrote: post #217
blahblah123456 wrote: post #76

Earlier quoted context omitted.

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.

If you were going to talk about the beginning of the movement, and then compare it to a credit card. . Consider his this would have worked at the beginning of the credit card movement. You would have pulled out your triplicate form and your credit card imprinter and basically made your IOUs that way... And then mailed them in!

You can build a transaction and sign it in Bitcoin without sending it though. It just that they weren't ready for that, and probably were not interested in doing it that way either.
Post reply on HN