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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)

#91

Post by Tenoke »

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…

Can you explain to me why people buy movies or software they can get identical versions of on the other bay? Or why they go to a live concert with the band playing instead of a venue with an identical recording of it? Or why they buy a baseball card instead of printing it?

The reasons aren't singular nor quite the same but if you can answer those it might be easier to figure out why simplifications like 'i can have the same image' don't cover the whole value people derive from it.

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

#92

Post by e_proxus »

goodoldneon wrote: post #79
chrisco255 wrote: post #15

Earlier quoted context omitted.

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)

Actually, that would almost approach some "real" value for NFTs...

Let's say you have digital artwork in a lossless format. You then take the world by storm with the compressed version. Everyone loves it. You sell an NFT with a hash/URI/encoding of the original uncompressed version encrypted so only the owner on the blockchain can decrypt it.

Needlessly to say, this would only work for digital art that is compressible. The owner could perhaps prove that they really own the original by showing a differently compressed version of it.

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

#93

Post by ghotli »

I like that this exists. Seems to me that a non-fungible token that represents a receipt for a piece of art needs a different name entirely. It won't get one, but it's just one idea based on them that took off like wildfire.

An NFT is just a token on a blockchain that you can't own a fractional part of. You might desire the state of that token in a card game, or a pokemon variant that's on-chain. If what it represents is something off-chain, it's still an NFT -- just only useful because scarcity is a hell of a drug to humans apparently.

The Ethereum improvement proposals are a good place to start for other use cases other than a vehicle for artists / scam artists or whoever to get rich.

"EIP-721: Non-Fungible Token Standard" https://eips.ethereum.org/EIPS/eip-721 is a good place to start if you want the hard detail.

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

#94

Post by TekMol »

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…

Are you married?

Say a new technology comes up that lets me clone your wife. Perfectly. Down to the last atom.

Would you then be ok with your wife being destroyed and replaced by the copy?

If you are not ok with that - aren't you just as irrational as the people who buy NFTs?

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

#95

Post by Uehreka »

theshadowknows wrote: post #54
PragmaticPulp wrote: post #30

Earlier quoted context omitted.

> 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. Not really. In your Mona Lisa example, an NFT would be more like a blockchain based ticket to the Louvre that has a link to a Mona Lisa JPEG. That’s the mismatch in NFT discussions: The be…

That makes a lot of sense, and thanks for the detailed answers. The age old "this isn't for you" is applicable here...I don't see the value personally, but I understand the motivation behind it..sort of like how I don't mind streaming music vs "owning" a digital copy of it as .mp3 or whatever.

> the age old “this isn’t for you” is applicable here

I disagree. When people are going around calling this a revolution that will change the fabric of society, they can’t just revert to “maybe it’s just not for you” when they have trouble explaining it or defending it. Either this is revolutionary or it’s a niche thing, but it can’t be both.

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

#96

Post by kashyapc »

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…

I'll quote this response[1] from the other day's thread:

"Imagine a world where all or most of our interactions are in the digital realm. When you wake up in this place you are naked, cannot show anyone anything about yourself, but you are very rich. Now how do you show others that you are rich? Simple, you buy Gucci NFT clothes that other naked peasants can see. That's what's happening."

Someone in the thread elaborated:

"Nah... it's much worse: you're buying a banner that hangs over your head saying 'I own Gucci clothes', but you're still naked."

Elsewhere, a colleague of mine (also an artist) elaborated still further:

"Even worse: the person you bought the banner from can set fire to it at any time and you'll be left with nothing."

[1] https://news.ycombinator.com/item?id=29160040 ("NFT's aren't the answer to the problems of digital art")

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

#97

Post by [deleted] »

intothev01d wrote: post #82
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…

It's not about images. This is about digital authenticity and historical record that is easily verifiable in an open, global system. This is instantaneous transfer of those rights or assets to anyone else in the world. In-game purchases of items, tickets to an event, transfer any digital item and the verifiable rights/ownership of it. Mark Cuban has been a big proponent and has been implementing use cases and I think…

[deleted]

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

#98

Post by ghuntley »

fooyc wrote: post #70
ghuntley wrote: post #18

Earlier quoted context omitted.

Thanks :)

With the TPB parody and everything, this a satire against intellectual property in general, not just NFTs, right ?

It's the spiritual successor of https://www.noyaml.com.

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

#99

Post by aaron695 »

I like the repetitive HN comments which would exactly apply to any digital artefact.

A lot of delusion going on just to be part of the hate train.

Ooooh why buy books or movies or courses when anyone can right click (/left click on TPB)

And that's how many people now feel about physical books and CDs and Bluerays too. I think they are all stupid except picture books which I don't think can be done well digitally yet.

But some people do like buying that stuff, so books and movies keep getting made. And they seem somewhat happy. And a lot of the people who don't care about the digital ownership are also happy.

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

#100

Post by falcolas »

skizm wrote: post #83
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…

You can tell who minted it. So the "uniqueness" comes from the fact that the original artist minted the NFT and the timestamp tells you if this was the first and/or only one minted by this artist for this URL.

Until the artist needs money, and “mints” more NFTs for the same URL.
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