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The part I don't understand about the crypto fear-uncertainty-doubt crowd is how binary they think the outcomes are going to be NFTs - yes you can right click
by aresant 5y ago
The part I don't understand about the crypto fear-uncertainty-doubt crowd is how binary they think the outcomes are going to be
NFTs - yes you can right click and save as. No they haven't figured out at scale how to attach the image / work to the ledger. Yes hype and pyramiding is a fucking disaster and people would go to prison trying those antics in any other industry. But digital art, music, & culture has a real deficit in ownership, provenance, etc.
Cryptocurrency - Yes there is pyramiding and wash trading galore. Maybe tether has inflated the entire market by a million percent. Yes proof of work uses too much energy. But gov't money printing, censorship, property rights, transfer complexity etc has left a vaccum for something that even resembles a currency that serves the individual.
As others have noted many times over we are very early, it is unlikely that we've yet seen what will be a broadly used solution but there is real product market fit here already illustrating massive demand.
On HN in particular how do you build something to serve to that end?
- spamizbad 5y ago> NFTs - yes you can right click and save as. No they haven't figured out at scale how to attach the image / work to the ledger. Yes hype and pyramiding is a fucking disaster and people would go to prison trying those antics in any other industry. But digital art, music, & culture has a real deficit in ownership, provenance, etc. There are several NFT "thought leaders" who have casually floated the idea of eliminating "right-click save-as" functionality for NFT'd images. So it seems to be slowly evolving in the direction of a DRM scheme.
- boopboopbadoop 5y agoTheir solution is to change browser functionality? Good luck.
- spamizbad 5y agoI think the idea was lobbying browser makers to do so. You could of course still pull the image in via cURL or whatever so its pretty dumb.
- taldo 5y agoI can imagine that someone is going to come up with a way to encrypt the stuff, such that only the holder of the private key "owning" the NFT can decrypt it, or something along those lines.
- cedilla 5y agoThe problem is that NFTs and cryptocurrencies don't even try to solve the problems of art ownership or everyday currencies, respectively.
- egeozcan 5y agoWe have a financial system, why not try to optimize it instead of trying to build something from scratch? The problems we have (long, inefficient transactions for example) are there because it's hard to do regulation right. You're not helping anyone by creating something impossible to regulate. It's like trying to solve misjudgements by completely getting rid of law, or trying to do law by public opinion (the consensus problem). Also there's always been a lot of new companies that serve customers with new financial tools. How you do banking did not stay the same in the last 20 years right? Yes it's slow but, as I said, it's hard to do innovation when you are playing with people's life savings. But suddenly a ponzi scheme comes and all sense is out of the window.
- piaste 5y ago> As others have noted many times over we are very early, it is unlikely that we've yet seen what will be a broadly used solution but there is real product market fit here already illustrating massive demand. https://en.wikipedia.org/wiki/Motte-and-bailey_fallacy https://en.wikipedia.org/wiki/Motte-and-bailey_fallacy "It's still early stage, PoW/Ethereum/NFTs are just the first iteration, there are potential applications in the future" is the perennial crypto investors' motte. "PoW/Ethereum/NFTs are revolutionary, they're here to stay, you would be so cool if you bought a hexagonal ape profile picture" is their bailey.