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Not sure how that's related to art though. Of course a self-referential system is good for internal consistency. The issue comes with trying to use it for anyth

Not sure how that's related to art though. Of course a self-referential system is good for internal consistency. The issue comes with trying to use it for anything outside the system, such as monkey jpegs.

chrisco255 5y ago
Not at all. It clearly works just fine as the marketplace volume suggests. Go right click save a CryptoPunk and try and sell it. Go make a BAYC clone and try and sell it. Try it out on chain, deploy your own copy of the smart contract. Or go and create a website and set up a Paypal account and try to sell some JPEGs. Let me know how that works out. Even if you succeed in making money, like selling a fake Gucci purse, you'd only succeed in increasing the clout of the original.
- mdoms 5y ago
  Most rational people argue that NFTs are a bubble/mania. Your argument that it's not because people are throwing wild amounts of money at them does nothing to convince us otherwise.
  - chrisco255 5y ago
    That's a loaded opinion. A lot of people said the same about Bitcoin, the internet, social media, electric cars, and mobile apps. My argument is that the system works just fine as a plausibly neutral ledger of account and for establishing provenance of ownership through reputation and convention. And in fact I very much prefer it to the legions of corporate lawyers enforcing man-made copyright laws and enriching monopolistic centrally distributed platforms such as app stores. I consider it much more sustainable, universal, accessible, and respectful of human rights and expression than the current systems in place.
- malermeister 5y ago
  I think we're talking past one another. I'm sure there's plenty of ways to make money by flipping various crypto assets. Where we disagree is our value judgement of that. I just don't see that as being useful per se, imo there's enough ways to move numbers around using computers already, a novel one can't really get me all that excited, especially considering its resource cost. I have yet to see a good argument for crypto that doesn't boil down to that. I think it's one of those "when you have a hammer, everything looks like a nail" scenarios. Marketplace volume isn't a good in itself if the markets don't do anything useful and waste a bunch of energy, but to people bought into crypto and capitalism really deeply it seems to be enough to get excited.

chrisco255 5y ago

Not at all. It clearly works just fine as the marketplace volume suggests. Go right click save a CryptoPunk and try and sell it. Go make a BAYC clone and try and sell it. Try it out on chain, deploy your own copy of the smart contract. Or go and create a website and set up a Paypal account and try to sell some JPEGs. Let me know how that works out. Even if you succeed in making money, like selling a fake Gucci purse, you'd only succeed in increasing the clout of the original.

mdoms 5y ago
Most rational people argue that NFTs are a bubble/mania. Your argument that it's not because people are throwing wild amounts of money at them does nothing to convince us otherwise.
- chrisco255 5y ago
  That's a loaded opinion. A lot of people said the same about Bitcoin, the internet, social media, electric cars, and mobile apps. My argument is that the system works just fine as a plausibly neutral ledger of account and for establishing provenance of ownership through reputation and convention. And in fact I very much prefer it to the legions of corporate lawyers enforcing man-made copyright laws and enriching monopolistic centrally distributed platforms such as app stores. I consider it much more sustainable, universal, accessible, and respectful of human rights and expression than the current systems in place.
malermeister 5y ago
I think we're talking past one another. I'm sure there's plenty of ways to make money by flipping various crypto assets. Where we disagree is our value judgement of that. I just don't see that as being useful per se, imo there's enough ways to move numbers around using computers already, a novel one can't really get me all that excited, especially considering its resource cost. I have yet to see a good argument for crypto that doesn't boil down to that. I think it's one of those "when you have a hammer, everything looks like a nail" scenarios. Marketplace volume isn't a good in itself if the markets don't do anything useful and waste a bunch of energy, but to people bought into crypto and capitalism really deeply it seems to be enough to get excited.