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Once again the HN community completely missing the point on crypto and this time on NFTs. Bunch of unimaginative people who think they're smarter than everyone

by kobasa 6y ago

Once again the HN community completely missing the point on crypto and this time on NFTs. Bunch of unimaginative people who think they're smarter than everyone else but have missed out on the biggest technological investment opportunity of the past decade and continue to remain petty and close minded on something they somehow still don't even understand. I'll throw you guys a little bone. Imagine sports card collecting, in the real world the hassle of keeping it in good condition, sending it to get it graded, then finding a buyer online, sending it again, and then hoping to get paid...all of that is full of friction and generally a terrible experience. NFTs like NBA Top Shot allow you to bypass all of that and the process of opening a pack, finding the price of it, and selling it can be done all in seconds. It is legitimately a 10x improvement from a logistical standpoint. And that's just scratching the surface, it's not only 10x more convenient and easier to find liquidity but it's actually programmable so there's pretty much infinite stuff that can be built on top of it like analytical tools, games that it integrates with and tracking ownership and getting athletes involved and displaying in virtual spaces and attaching digital custom signatures etc etc. Even if you personally don't like it or think "its stupid", the popularity of some of these products is undeniable. It is legit blowing up and has disrupted previous industries that people who get it refuse to go back to old ways. Sorry the market has spoken and your take is wrong.

grzm 6y ago
> Once again the HN community completely missing the point > I'll throw you guys a little bone. Just leave this out. You're part of the the community you're lumping here.
gge 6y ago
Whenever crypto comes up on HN all the comments are either copium, Tether, or people saying "I'm not wrong its the market thats wrong". Amazing to see how the tech/SV mainstream completely missed out on Defi, and are now missing out on NFTs. This comment explains HNs relationship with crypto perfectly: https://news.ycombinator.com/item?id=24310174 https://news.ycombinator.com/item?id=24310174. Good quote from @balajis: "Crypto is what comes after Silicon Valley"
- elnygren 6y ago
  "tech/SV" in no way missed out on Defi, they own a pretty big part of it. Check out a16z, sequoia portfolios or check out the founders of the top defi projects... > "Crypto is what comes after Silicon Valley" yet some of the biggest success stories to come out of crypto are "Silicon Valley" (or close enough in this context) companies such as Coinbase ?
  - gge 6y ago
    Disagree. A16Z is the exception, not the rule (and I can only see 3 defi protocols in their portfolio: COMP, UNI, MKR). What defi projects has Sequoia invested in? There are many VCs who are into crypto that have invested in smart contract platforms (i.e. ETH killers), but missed out on investing in the actual applications built on Ethereum (Defi protocols). The applications have heavily outperformed the ETH killers. USV is an example of this, pioneering the fat protocol thesis and completely missing out on actual applications. While there are SV based crypto companies like Coinbase, the majority of things happening in crypto happens outside of SV. Binance, FTX, Bitfinex, Bitmex, Bitstamp are all non US. Out of the top 10 defi projects, only 2 are SV based and the majority are non US based. In crypto SV is not the center at all, which is very different to the internet where SV is obviously the center
Igelau 6y ago
You seem to know a lot about NBA Top Shot, so I'm hopeful that you can clarify some things for me that I couldn't quite understand from the documentation on the web or from reading the smart contracts on GitHub. If I own a Moment, how do I download the associated video, archive it, and view it offline? Do I get the rights to do that, or does the moment only consist of the metadata that allows me to view the content? Is it even that? Is the Moment really just a way to hang a tag that says "I've got this one and this one" on a website that hosts all the actual content?

by kobasa 6y ago

grzm 6y ago

> Once again the HN community completely missing the point > I'll throw you guys a little bone. Just leave this out. You're part of the the community you're lumping here.

gge 6y ago

Whenever crypto comes up on HN all the comments are either copium, Tether, or people saying "I'm not wrong its the market thats wrong". Amazing to see how the tech/SV mainstream completely missed out on Defi, and are now missing out on NFTs. This comment explains HNs relationship with crypto perfectly: https://news.ycombinator.com/item?id=24310174 https://news.ycombinator.com/item?id=24310174. Good quote from @balajis: "Crypto is what comes after Silicon Valley"

elnygren 6y ago
"tech/SV" in no way missed out on Defi, they own a pretty big part of it. Check out a16z, sequoia portfolios or check out the founders of the top defi projects... > "Crypto is what comes after Silicon Valley" yet some of the biggest success stories to come out of crypto are "Silicon Valley" (or close enough in this context) companies such as Coinbase ?
- gge 6y ago
  Disagree. A16Z is the exception, not the rule (and I can only see 3 defi protocols in their portfolio: COMP, UNI, MKR). What defi projects has Sequoia invested in? There are many VCs who are into crypto that have invested in smart contract platforms (i.e. ETH killers), but missed out on investing in the actual applications built on Ethereum (Defi protocols). The applications have heavily outperformed the ETH killers. USV is an example of this, pioneering the fat protocol thesis and completely missing out on actual applications. While there are SV based crypto companies like Coinbase, the majority of things happening in crypto happens outside of SV. Binance, FTX, Bitfinex, Bitmex, Bitstamp are all non US. Out of the top 10 defi projects, only 2 are SV based and the majority are non US based. In crypto SV is not the center at all, which is very different to the internet where SV is obviously the center

Igelau 6y ago

You seem to know a lot about NBA Top Shot, so I'm hopeful that you can clarify some things for me that I couldn't quite understand from the documentation on the web or from reading the smart contracts on GitHub. If I own a Moment, how do I download the associated video, archive it, and view it offline? Do I get the rights to do that, or does the moment only consist of the metadata that allows me to view the content? Is it even that? Is the Moment really just a way to hang a tag that says "I've got this one and this one" on a website that hosts all the actual content?