4 ms·

People can't just spin up new realities and re-sell the same original Picasso painting to 30 more people, but we can spin up infinite amounts of new NTF blockch

People can't just spin up new realities and re-sell the same original Picasso painting to 30 more people, but we can spin up infinite amounts of new NTF blockchains and submit the same JPEG to all of them. You cannot limit ownership of digital goods.

aaron695 6y ago
Clearly the 7,852,741,969 people on the planet (alive today) can buy paint and canvas for close to nothing and pump out art. Also not hard to photocopy things. You can even make them better. You have 4 copies of "The Scream" and then you have Andy Warhol. This meme to me makes so little sense, I can only see it exists because people want to destroy new ideas. That seems to be peoples default state. Think about the amazing Tulip industry, worth billions and billions and all the people 100s of years ago saying they are only stupid flowers. I'm not big on flowers but I do think they make the world a better place.
- insert_coin 6y ago
  An object, a real world object, can never be copied, never. Objects can only be imitated but the original is still the original. There are no 2 Picassos, there is only one and 8 billion imitations.
  - aaron695 6y ago
    Exactly the same as an NFT. Are we not having an original conversation because it's just ones and zeros? Except the average person can't tell the difference between a 'fake' Picasso and originals. Nor experts. Once again this meme that because ~infinity can be produced the value of all of them goes to zero is somewhat insane. We can produce ~infinity real paintings as well. I find it similar to the idea modern art is stupid and my child could do that, but I'm not earning millions with my kids because I'm too smart. Fine, spin NFT's up and make money. Lets see how we go. If you jump in right now you might be the first to print a million soup cans for a $1.
    - insert_coin 6y ago
      The conversation is original, the representation, the ones and zeros, is just that, a representation. When someone else reads these posts us two won't be having this conversation again. > Once again this meme that because ~infinity can be produced the value of all of them goes to zero is somewhat insane. We can produce ~infinity real paintings as well. The value of things is not dictated by how much of it we can produce. Value is not directly related to quantity but to the relationship between quantity, demand, and time. > Fine, spin NFT's up and make money. Lets see how we go. If you jump in right now you might be the first to print a million soup cans for a $1. Not interested. Lastly, you use the word meme out of context a lot like someone who just learned it, and you keep calling other people stupid, people you do not know. That is no way to have a conversation.
      - qqii 6y ago
        The specific representation (the part that has value) is protected by elliptic curve cryptography. Your point of supply, demand and time is a good one. The supply and costs to creating an NFT is low, but the demands for NFTs in general are also low. Popular NFTs have low supply as they are created by popular individuals, of which there are few. The demand for these NFTs are high for a numerous reasons including but not limited to speculation and investors simply having excess capital. From a technical perspective there is no limit to how many NFTs a popular artist could create but unless they are unique there isn't demand. Like anything, making money by creating NFTs is non trivial whilst only the successful outlines are reported.
        creshal 6y ago
        > The specific representation (the part that has value) is protected by elliptic curve cryptography. I don't think calling this "protected" is reasonable. You have some very weak guarantees that apply to one particular NFT platform, but this doesn't include being protected against fraud by the platform operators themselves, who can run a 51% attack whenever they want. (And in case of Ethereum, have demonstrated their willingness of doing so whenever smart contract results prove to be inconvenient to investors.) What do you gain over running a digital auction house on a RasPi? It'll be a lot cheaper to operate and is at no risk of having its underlying platform banned from multiple countries.
deleted 6y ago
[deleted]

aaron695 6y ago

Clearly the 7,852,741,969 people on the planet (alive today) can buy paint and canvas for close to nothing and pump out art. Also not hard to photocopy things. You can even make them better. You have 4 copies of "The Scream" and then you have Andy Warhol. This meme to me makes so little sense, I can only see it exists because people want to destroy new ideas. That seems to be peoples default state. Think about the amazing Tulip industry, worth billions and billions and all the people 100s of years ago saying they are only stupid flowers. I'm not big on flowers but I do think they make the world a better place.

insert_coin 6y ago
An object, a real world object, can never be copied, never. Objects can only be imitated but the original is still the original. There are no 2 Picassos, there is only one and 8 billion imitations.
- aaron695 6y ago
  Exactly the same as an NFT. Are we not having an original conversation because it's just ones and zeros? Except the average person can't tell the difference between a 'fake' Picasso and originals. Nor experts. Once again this meme that because ~infinity can be produced the value of all of them goes to zero is somewhat insane. We can produce ~infinity real paintings as well. I find it similar to the idea modern art is stupid and my child could do that, but I'm not earning millions with my kids because I'm too smart. Fine, spin NFT's up and make money. Lets see how we go. If you jump in right now you might be the first to print a million soup cans for a $1.
  - insert_coin 6y ago
    The conversation is original, the representation, the ones and zeros, is just that, a representation. When someone else reads these posts us two won't be having this conversation again. > Once again this meme that because ~infinity can be produced the value of all of them goes to zero is somewhat insane. We can produce ~infinity real paintings as well. The value of things is not dictated by how much of it we can produce. Value is not directly related to quantity but to the relationship between quantity, demand, and time. > Fine, spin NFT's up and make money. Lets see how we go. If you jump in right now you might be the first to print a million soup cans for a $1. Not interested. Lastly, you use the word meme out of context a lot like someone who just learned it, and you keep calling other people stupid, people you do not know. That is no way to have a conversation.
    - qqii 6y ago
      The specific representation (the part that has value) is protected by elliptic curve cryptography. Your point of supply, demand and time is a good one. The supply and costs to creating an NFT is low, but the demands for NFTs in general are also low. Popular NFTs have low supply as they are created by popular individuals, of which there are few. The demand for these NFTs are high for a numerous reasons including but not limited to speculation and investors simply having excess capital. From a technical perspective there is no limit to how many NFTs a popular artist could create but unless they are unique there isn't demand. Like anything, making money by creating NFTs is non trivial whilst only the successful outlines are reported.
      - creshal 6y ago
        > The specific representation (the part that has value) is protected by elliptic curve cryptography. I don't think calling this "protected" is reasonable. You have some very weak guarantees that apply to one particular NFT platform, but this doesn't include being protected against fraud by the platform operators themselves, who can run a 51% attack whenever they want. (And in case of Ethereum, have demonstrated their willingness of doing so whenever smart contract results prove to be inconvenient to investors.) What do you gain over running a digital auction house on a RasPi? It'll be a lot cheaper to operate and is at no risk of having its underlying platform banned from multiple countries.

deleted 6y ago

[deleted]