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TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

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Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#71

Post by serverholic »

fooyc wrote: post #53
theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

NFTs are a scam, but saying that it's because you can download them without paying is missing the point. You could say the same thing about movies, music, games, art. People in the cryptocurrency community believe that NFTs are used for money laundering. It's also believed that prices are inflated artificially to trick gullible or greedy people into buying them. But the download thing ? It's missing the point.

A scam implies someone is getting hurt. Yet I haven't seen anyone getting hurt. You might say that people will get hurt when the bubble pops but people have been saying the same thing about crypto for awhile.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#72

Post by mythz »

jordemort wrote: post #55

If an NFT just contains a URL, is there anything stopping me from minting a bunch of new NFTs that contain the same URLs as existing NFTs? Is there some sort of uniqueness constraint on the URLs or is it just taken on faith that nobody would ever do that? What if I added some nonsense (like, I dunno, an fbclid) to the URL query string? What if I minted duplicates of all the NFTs on the Ethereum chain on the Solana ch…

There's no such constraint, it would be futile even if there was, you can just copy the image to a different web server and get a different URL.

What's going to be interesting to watch is when one of the heavily CDN's used goes down so NFT owners are left with receipts of broken links, even better if a CDN gets hijacked and gets configured to return the same Rick Roll clip for every NFT link.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#73

Post by yabones »

Isn't funny how the same generation that almost bankrupted the entertainment industry with piracy (their words, not mine) is now crying and stomping their feet because of exactly the same copy-paste 'piracy'. It doesn't go both ways, scarcity simply doesn't exist with digital goods, nor does ownership. We proved two decades ago that average people don't care about copyright, why would anybody be so naive to think adding a blockchain would change anything?

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#74

Post by NoGravitas »

ohgodplsno wrote: post #35
ahelwer wrote: post #26

Earlier quoted context omitted.

I think I can explain. I understand why others value them, although I don't agree with the valuation (as a litmus test, I also think shelling out $30k for a genuine Rolex is very stupid). My lack of agreement also does not prevent me from participating and profiting off the people who think they do have value, although I have not done so. There are basically two theories of their value: the collectible theory and the…

>they never degrade on the blockchain That's entirely wrong. None of the NFTs are stored on the blockchain, merely a bit of JSON that contains a link to your image. If you're lucky, it's hosted on IPFS (and it'll disappear whenever everyone stops seeding it). Otherwise, it's just a link to your image host of choice, and the author is free to replace it with the image of a dick in three months, deleting all your resal…

I mean, the collectible theory can be right, and NFTs can still be for laundering money and finding suckers. I can see how they could function as the equivalent of the signature on a signed and numbered print. But no one is paying thousands of dollars for ugly monke or lion picrew pfps based on the art.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#75

Post by fooyc »

ekabod wrote: post #59
fooyc wrote: post #58

Earlier quoted context omitted.

What is stopping you from selling a movie you've just downloaded ? The movie industry is a scam !

it would be selling a link to the location of a movie file.

Which would be better than all streaming platforms today who don't even let you download what you have bought

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#76

Post by cr1895 »

etothepii wrote: post #13
theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

The tried and tested answer is to think about "buying" the Mona Lisa. If the Louvre offered the opportunity for someone to be called the owner of the Mona Lisa but they could never take it out of the Louvre or any way control it what would that sell for? I suspect many, many millions of dollars.

>If the Louvre offered the opportunity for someone to be called the owner of the Mona Lisa but they could never take it out of the Louvre or any way control it what would that sell for? I suspect many, many millions of dollars.

I thought that was a fairly normal thing? That is, someone buys or owns a work of art but it's left in a museum in perpetuity.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#77

Post by jagger27 »

serverholic wrote: post #61

I honestly don't think this is the big "gotcha" that people seem to think it is. An NFT can be traced back to the creator. So you don't have the same history or satisfaction of giving back to the creator of the NFT. I think people on here are getting too caught up in the technical. I can print out a shiny charizard pokemon card but it isn't the same thing is it? A better way to think about NFTs is exchanging a moneta…

> I think people on here are getting too caught up in the technical. I can print out a shiny charizard pokemon card but it isn't the same thing is it?

In this case it is bit for bit identical. My inkjet printer Charizard would never pass as real.

> A better way to think about NFTs is exchanging a monetary gift to the creator of something you enjoy for a collectable.

This is called “buying art”.

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#79

Post by goodoldneon »

chrisco255 wrote: post #15
theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

Yes, you can screenshot the Mona Lisa or print out a signed Mickey Mantle rookie card, but it's not the same thing is it? The verifiable timestamp and record of account associated with a wallet address (public key) that is known to be associated with the artist that produced the work is the same as establishing physical provenance for a unique item. And as for value goes, NFTs are far more liquid than physical art wo…

The painting example isn't valid. There's 1 original painting that only 1 person (or group) can own. Anyone who buys a print has something fundamentally different than I do; I have the painting hanging in my house. With a digital image, there isn't an original: all copies are equivalent (save for compression)

Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)

#80

Post by NicoJuicy »

chrisco255 wrote: post #15
theshadowknows wrote: post #11

I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…

Yes, you can screenshot the Mona Lisa or print out a signed Mickey Mantle rookie card, but it's not the same thing is it? The verifiable timestamp and record of account associated with a wallet address (public key) that is known to be associated with the artist that produced the work is the same as establishing physical provenance for a unique item. And as for value goes, NFTs are far more liquid than physical art wo…

Comparing a digital cartoon of a monkey ( as usual) with a painted and original Mona Lisa is just wrong.

NFT's are mostly here to sell you avatar's of tech-minded people who create ( and even generate) as much as possible avatars.

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