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Keanu Reeves Thinks NFTs Are a Joke

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Re: Keanu Reeves Thinks NFTs Are a Joke

#51

Post by [deleted] »

jollybean wrote: post #41
jazzyjackson wrote: post #16

Earlier quoted context omitted.

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 advantag…

[deleted]

Re: Keanu Reeves Thinks NFTs Are a Joke

#52

Post by awill88 »

kumarvvr wrote: post #49
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.

How else could you verify the ledger without computational power without the reliance on an authority? This is assuming that we are philosophically considering authority as undesirable for ledgers.. like I get it, proof of work at this point is kind of BS in the sense that it’s not accessible for the individual so it loses all its novelty in the libertarian sense.. energy just feels like a problem that is solved elsewhere, I don’t think we should be calling it wasteful if humanity is on the brink of fusion and newer cleaner sources of energy.. I dunno, scrutinizing energy consumption just seems like an easy target, too easy, like lazy.

Re: Keanu Reeves Thinks NFTs Are a Joke

#54

Post by mmmeff »

awill88 wrote: post #52
kumarvvr wrote: post #49

Earlier quoted context omitted.

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.

How else could you verify the ledger without computational power without the reliance on an authority? This is assuming that we are philosophically considering authority as undesirable for ledgers.. like I get it, proof of work at this point is kind of BS in the sense that it’s not accessible for the individual so it loses all its novelty in the libertarian sense.. energy just feels like a problem that is solved else…

Iota

Re: Keanu Reeves Thinks NFTs Are a Joke

#55

Post by libertine »

dartharva wrote: post #36
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…

Keanu, or literally any famous celebrity's word has more impact solely because they are a celebrity. Much more people will be interested to know what he thinks than what you and I think about NFTs. It sure seems asinine considering he is no expert in the field, but that's just how it is. Fame trumps expertise when it comes to having your voice heard.

Or better yet, everyone is entitled to an opinion, and he has is own opinion since he's being associated with some NFT project - so at bare minimum someone briefed him about it, best case scenario, he actually studied it enough to have an educated opinion.

You don't need to know how to program smart contracts to have an opinion on NFTs, and the guy has been around and knows what fads and trends look like, and probably has dealt with these types of concepts from the whole Matrix culture around it.

Plus we all know NFTs survive on hype, and he knows how hype works.

Does this make him an opinion leader?

I don't think so, but he does have an opinion apparently and thinks people shouldn't take these NFTs seriously.

Re: Keanu Reeves Thinks NFTs Are a Joke

#56

Post by ryanlol »

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…

This isn’t a news article, it’s a blog post.

Re: Keanu Reeves Thinks NFTs Are a Joke

#57

Post by Bombthecat »

heybecker wrote: post #4

There is no spoon. Just a hash of a jpeg of a spoon on a blockchain.

I don't get it either. I understand that there are legit use cases for nfts.. But this stuff is insane.. Links to pictures selling for thousands of dollars.. Sometimes i think im just too stupid and maybe its just a new generation and instead of spending thousands of dollar for Gucci it goes to nfts..

Re: Keanu Reeves Thinks NFTs Are a Joke

#58

Post by kamray23 »

awill88 wrote: post #50
Meph504 wrote: post #46

Earlier quoted context omitted.

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…

How will you use a blockchain to do either of those things. DRM is only truly useful for interactive media anyway, so even if you have some kind of decentralized encrypted data decrypted on sufficient transaction, that data flows out of something into pixels and sound waves at some point. No real advantage to be gained over just doing the same in an ordinary W3 online storefront. Copyright management is very doable with stuff like NFTs, but that's management as a separate thing from enforcement. A blockchain cannot automatically detect misuse of copyrighted material or do anything about it even if something on the blockchain knew. It just doesn't seem reasonable to do these things.

On the other hand, the main advantage we should consider with blockchain is decentralised computation. Decentralised computation can possibly be managed and regulated by a cryptocurrency which itself is tied to the value of decentralised computation and as such does not exist as some imaginary token of value from artificial scarcity. The ability for a system to exist all over the world and to communicate and compute everywhere can be important to many applications. Communication, fintech, serverless services, license management, ownership management, the very idea of smart contracts etc.

That's where the real meat of the system lies, and not in online artificial scarcity tokens distributing a soulless, valueless illustration procedurally generated like millions like it based off a bunch of templates drawn in paint over about an hour.

Re: Keanu Reeves Thinks NFTs Are a Joke

#59

Post by kamray23 »

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…

NFTs are smart contracts and as such come with automatically enforced terms. You can create a token which expires, useful for licensing. You can create a token which pays royalties to an artist with every sale. You can create smart financial instruments which are technically NFTs and which skip the regulation put on the financial industry to perform more risky investments, and even automate functions like profit sharing or paying off a bond. You can even develop various semi-fungible tokens that do all these things!

You can't do that with PGP. You'd need to run a bank to get most of that and some of that is illegal on a global level so even as a bank you'd have to dip outside the law. These are the real uses of NFTs, not artificial scarcity magic internet tokens associated with procedurally generated soulless art from templates made in paint over 5 minutes.

Re: Keanu Reeves Thinks NFTs Are a Joke

#60

Post by kamray23 »

1cvmask wrote: post #5

Et tu Keanu… From the man who starred in the metaverse movie The Matrix. Then again Caesar never saw it coming from Brutus.

you do realise the matrix is a horrible dystopia in which all of humanity is enslaved and deceived, though

probably not the best comparison to make

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