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Stripe Crypto

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Re: Stripe Crypto

#311

Post by MathCodeLove »

wmf wrote: post #271
quadrifoliate wrote: post #166

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

Stripe is largely selling well-made shovels for the gold rush here. ... This time around, they ... don't have any exposure to the volatile world of ETH or other coins. Which is... even more evil? They're encouraging an externality which harms normal people but not them.

They're not encouraging crypto anymore than a liquor store encourages alcoholism. The liquor store may lower the barrier to entry for obtaining a bottle of alcohol, but it's ultimately the alcoholics choice to enter the store and purchase it.

Offering a product is not evil or immoral. It may be amoral but that's not the same as immoral. Ultimately the market decides what stays and goes except in extraordinary circumstances.

Re: Stripe Crypto

#312

Post by reaperducer »

wahnfrieden wrote: post #224
quadrifoliate wrote: post #166

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

My interest in web3 + art is from finding new livable income sources for artists generally. Less about big money speculation, more about getting more artists supported such that they don’t need a day job or purely commercial art pursuits (as opposed to “fine art”). I understand the current state of crypto isn’t near offering this outside of hyped speculative investments I’m also not interested in ideas on a shelf tha…

My interest in web3 + art is from finding new livable income sources for artists generally

You should track down the New York Times article from this past weekend. From memory, it says that despite all the hype, almost no artists are making any money from NFTs. The average sale price is less than $400, which doesn't even cover materials.

Re: Stripe Crypto

#313

Post by TacticalCoder »

hemantv wrote: post #262
quadrifoliate wrote: post #166

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

It's high spread market. Any financial firms are salivating at how to take advantage and profit from it. Coinbase whole business is spreads.

> Coinbase whole business is spreads.

Coinbase collects fees. Even if the spread is minimal (I think Bitcoin goes to something silly like 8 decimals but even for a book in USD, the bid/ask spread may be 39 842.54 vs 39 482.55, so a spread of one cent), Coinbase still takes a fee on every trade. And they take a fee from both the buyer and the seller.

I'm not sure their business is related to spreads.

Re: Stripe Crypto

#314

Post by tashoecraft »

atlantas wrote: post #270
fivre wrote: post #253

Earlier quoted context omitted.

This is a solved problem: you pay them for their work, which is how artists have made money since time immemorial. The degree to which artists can make a living off their art is a function of demand and discoverability, not whether they have a payment system (they do need this, but they already have them). I'd be curious to know what fraction of NFT enthusiasts had previously commissioned a piece of art, and of those…

In the current system when an artist creates something and sells it, they typically get paid once, often lowballed. The buyer may turn around and sell it for 100x. The buyer made far more than the artist, who gets nothing in this scenario. With NFTs the artist can get a cut of every transfer indefinitely.

No you're assuming based on what seems like no knowledge of the industry.

Re: Stripe Crypto

#315

Post by aerostable_slug »

atlantas wrote: post #270
fivre wrote: post #253

Earlier quoted context omitted.

This is a solved problem: you pay them for their work, which is how artists have made money since time immemorial. The degree to which artists can make a living off their art is a function of demand and discoverability, not whether they have a payment system (they do need this, but they already have them). I'd be curious to know what fraction of NFT enthusiasts had previously commissioned a piece of art, and of those…

In the current system when an artist creates something and sells it, they typically get paid once, often lowballed. The buyer may turn around and sell it for 100x. The buyer made far more than the artist, who gets nothing in this scenario. With NFTs the artist can get a cut of every transfer indefinitely.

> With NFTs the artist can get a cut of every transfer indefinitely.

Too bad this hadn't been invented when Ted Nelson was alive.

Re: Stripe Crypto

#316

Post by goosedragons »

wahnfrieden wrote: post #279
goosedragons wrote: post #228

Earlier quoted context omitted.

I think Patreon and similar is probably a better avenue for digital. More consistent support than selling peices as NFTs or in meat space and with digital I think you're more likely to find 100 people willing to spend $10 for a new wallpaper each month than 1 willing to spend $1000 on an NFT.

NFTs don’t need to be as expensive as that, that’s only because currently all attention is on high-priced eth ecosystem Patreon is also a huge rent seeker, we can do better for artist direct payment Patreon is not passive income - people expect regular updates and special work/insight for private audience In terms of consistency, meat space has big issues with accessibility and reach Lastly you can look at the result…

I never said Patreon is passive income but it's consistent. The artist gets money for their output every month. People are only going to pay so long as they feel they get value. Unlike a subscription for rarely updated software you can still use that Wallpaper you got from being a patreon even if you're not subbed anymore.

NFTs aren't passive either nor are they consistent.

The whole point of NFTs is the scarcity aspect. Sure, you could maybe do 100 $10 NFT "prints" instead but now they need to manage that aspect and predict demand.

NFTs mimic the meat space art world with all the same problems like infrequent unpredictable sales with few benefits like convenience.

Re: Stripe Crypto

#317

Post by MathCodeLove »

atlantas wrote: post #270
fivre wrote: post #253

Earlier quoted context omitted.

This is a solved problem: you pay them for their work, which is how artists have made money since time immemorial. The degree to which artists can make a living off their art is a function of demand and discoverability, not whether they have a payment system (they do need this, but they already have them). I'd be curious to know what fraction of NFT enthusiasts had previously commissioned a piece of art, and of those…

In the current system when an artist creates something and sells it, they typically get paid once, often lowballed. The buyer may turn around and sell it for 100x. The buyer made far more than the artist, who gets nothing in this scenario. With NFTs the artist can get a cut of every transfer indefinitely.

Oh so it's a pyramid scheme as well? What a horrible payment system. Imagine if whenever you sold your car you had to take a fraction of what you received for it and give it back to the dealership (or rather, the manufacturer in this case).

Re: Stripe Crypto

#318

Post by lern_too_spel »

siruncledrew wrote: post #122

That’s an interesting 180 degree turn from saying “no” to crypto support to now allowing crypto support. What regulations changed behind the scenes?

If anything, with the recent executive order, I expect the regulatory landscape to change quickly to make cryptocurrencies even less desirable to support for payment.

Re: Stripe Crypto

#319

Post by unreal37 »

reaperducer wrote: post #312
wahnfrieden wrote: post #224

Earlier quoted context omitted.

My interest in web3 + art is from finding new livable income sources for artists generally. Less about big money speculation, more about getting more artists supported such that they don’t need a day job or purely commercial art pursuits (as opposed to “fine art”). I understand the current state of crypto isn’t near offering this outside of hyped speculative investments I’m also not interested in ideas on a shelf tha…

My interest in web3 + art is from finding new livable income sources for artists generally You should track down the New York Times article from this past weekend. From memory, it says that despite all the hype, almost no artists are making any money from NFTs. The average sale price is less than $400, which doesn't even cover materials.

What exactly are the "materials" to create an NFT?

Photoshop?

Re: Stripe Crypto

#320

Post by QuikAccount »

almostkorean wrote: post #299
QuikAccount wrote: post #290

Earlier quoted context omitted.

NFTs are a shit way of supporting artist and a lot of high profile artist are just having people make NFTs with links to their work without permission so they aren't really making anything off this situation.

What makes it a shit way of supporting artists? I have seen some fraud like you describe, but I think it makes a lot of sense for digital only artists.

The fraud I describe makes it a shit way of supporting artist. As for digital only artist, there are plenty of non-NFT ways to support them. Commissions, Patreon, and merch to name a few.
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