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Keanu Reeves Thinks NFTs Are a Joke

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Re: Keanu Reeves Thinks NFTs Are a Joke

#41

Post by jollybean »

jazzyjackson wrote: post #16
winddude wrote: post #9

NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.

I lean in the same direction, I thought ICOs were a very cool way to replace kickstarter: raising funds, staking ownership, if some enterprise was successful you could even sell your share at market value, or cash out early if you're starting to doubt the campaign's ability to ship the product (if you can find someone willing to take the risk at a lower price) Unfortunately even more than that they lend themselves to…

This is misunderstanding of the situation derived I think from a believe that the technology somehow changes the use case.

ICO's are a scam because they are essentially unregulated securities.

If all securities were unregulated, then they would all be scams.

The moment you strongly regulate ICO's, then they don't get their pop, they lose their allure, and they make no sense.

There's no material or commercial advantage to Crypto or NFT's, or rather, any advantages they might offer are outweighed by the drawbacks.

And so the big remaining advantage is for scammers, which is why they take advantage of it.

Re: Keanu Reeves Thinks NFTs Are a Joke

#42

Post by awill88 »

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll go ahead and attack the technology itself.. it’s frustrating is all and counterproductive if you ask me. FWIW, I think the value of NFTs are ridiculous but the idea is cool. It just sucks seeing tabloid bullshit driving discussions about a ingenious technology and what’s left is a bunch of thrashing comment threads expressing for or against, for or against.. gets old.

Re: Keanu Reeves Thinks NFTs Are a Joke

#43

Post by NetOpWibby »

awill88 wrote: post #42

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll g…

Welcome to the Internet. That’s always gonna be something people are vehemently opposed to, and most people won’t go deeper than surface level to understand what they’re against.

Re: Keanu Reeves Thinks NFTs Are a Joke

#44

Post by bellyfullofbac »

asddubs wrote: post #31
QuadrupleA wrote: post #23

Earlier quoted context omitted.

I think any takedown of crypto and NFTs is a benefit to society at this point, so I welcome whoever is debunking it.

sure, but you're also kind of setting the precedent that random famous people's opinion on things they have no expertise on matters, which probably isn't good for debunking things in the long run

I mean, the precedent has been there for a looong time, and grandparent commenter certainly didn't set it...

As to the why, it's probably related to social status. In the old days people paid attention and listened to the people with status (who usually became leaders), nowadays with celebrity culture it's somehow inverted, a good looking person who can act or sing gets put on stage, and they get the attention (for singing, acting, or looking good), and they gain status.

Re: Keanu Reeves Thinks NFTs Are a Joke

#45

Post by gorgoiler »

lelanthran wrote: post #39
winddude wrote: post #9

NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless.

> NFTs are technically good, with strong fundamentals, and real world applications, the same way ICOs were. But the way they are used has been absolute shit, and nothing sort of utterly useless. I keep thinking that all the use-cases for NFT's can be replaced with current digital certificate signing. Transferring something only needs signing with the private key, right? What are the real-world use-cases for NFT that…

You don’t even need that level of technology. If I bought an NFT of someone’s cat all they’d need to do is tweet that I did so, from their blue ticked alt.

Re: Keanu Reeves Thinks NFTs Are a Joke

#46

Post by Meph504 »

awill88 wrote: post #42

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll g…

Well the problem is, we need something that is a creditable implementation block chain, Nearly all uses today are dodgy. The almost all seem to think creating a system of false scarcity and convincing people that it makes it valuable.

Mining is pointless, waste of power and resources, So I agree it is the technologies fault, it has yet to have something to seemingly implement its usage in a way that is useful.

Re: Keanu Reeves Thinks NFTs Are a Joke

#47

Post by Meph504 »

Slow_Hand wrote: post #15

Nothing against Keanu Reeves, but why is his opinion about NFTs worthwhile news to anyone? The story isn't inconveniencing me in any way, so I should let it go and move with my life, but I can't help but feel that stories of this nature are nothing more than noise; useless, trashy noise that clogs our minds and doesn't add value to anyone other than a magazine editor who needs to cover SOMETHING for engagement's sake…

Did you look at the context, his opinion was asked about NFTs specifically related to the new matrix project(https://niftys.com/thematrix) that he is associated with, typically one would expect a celebrity endorsement for things being used to promote their up coming projects.

When a celebrity in this situation doesn't it draws the attention of people.

Re: Keanu Reeves Thinks NFTs Are a Joke

#48

Post by awill88 »

NetOpWibby wrote: post #43
awill88 wrote: post #42

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll g…

Welcome to the Internet. That’s always gonna be something people are vehemently opposed to, and most people won’t go deeper than surface level to understand what they’re against.

It’s funny because when I think about that, it makes me go, damn, is that the destiny of all speech and interaction between people on the internet? Regardless of our attempts to bring brilliance and added dimension to our existence and social constructs, at the end of the day, in its current form, argumentation and personalities on the internet get reduced down to binary forms, physically, logically, spiritually.

Re: Keanu Reeves Thinks NFTs Are a Joke

#49

Post by kumarvvr »

awill88 wrote: post #42

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll g…

While I agree politically with the idea of a distributed ledger, this implementation (and I am sure a lot of thought has gone into design of distributed ledgers) of making computational complexity as a pre-condition to participate in the ledger is rightfully criticized. The world, overall does not benefit from using the blockchain, in any form, just for the energy consumed.

Re: Keanu Reeves Thinks NFTs Are a Joke

#50

Post by awill88 »

Meph504 wrote: post #46
awill88 wrote: post #42

It’s irritating to constantly read so many articles devolve into attacks on the blockchain itself, indirectly blaming the proof of work algorithm and the amounts of energy it uses. It’s always the same theme, oh this stuff is silly, oh and it’s destroying our planet too, what a terrible thing. The tone comes off as we’re here to tear down a side effect of decentralized authenticity and once exposed as a sham, we’ll g…

Well the problem is, we need something that is a creditable implementation block chain, Nearly all uses today are dodgy. The almost all seem to think creating a system of false scarcity and convincing people that it makes it valuable. Mining is pointless, waste of power and resources, So I agree it is the technologies fault, it has yet to have something to seemingly implement its usage in a way that is useful.

Plenty of waste, yes, but distributed authority of history has lots of intrinsic value IMHO, plenty of uses, and I suppose I’m optimistic more will emerge than what’s out there today. Copyright enforcement or decentralized DRM seem like natural evolutions.. I mostly agree, but I disagree with the general concept that blockchain is bad. At most, cryptocurrency is bad, but I don’t think it had to be bad, if that makes sense.
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