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None. They are noticing the NFT hype starting to die down, and now need to keep the ferris wheel running with something. Crypto is only marketing, there is no a

by shafyy 5y ago

None. They are noticing the NFT hype starting to die down, and now need to keep the ferris wheel running with something. Crypto is only marketing, there is no actual value created.

deleted 5y ago
[deleted]
jp42 5y ago
I wish you go through Foundation of Blockchain lecture series by Tim Roughgarden and also understand what cryptography is. I bet you will change you mind on - there is no math in crypto.
- qorrect 5y ago
  He did not say anything about cryptography.
- Daishiman 5y ago
  So how has that mapped into actually useful projects?
cato23 5y ago
[dead]
- Tao331 5y ago
  Is this a counterargument?
doopy1 5y ago
NFT hype is still going strong. https://dune.com/rchen8/opensea https://dune.com/rchen8/opensea
- hiq 5y ago
  Is it? https://news.ycombinator.com/item?id=30745139 https://news.ycombinator.com/item?id=30745139
  - doopy1 5y ago
    Yes, it is! https://news.bitcoin.com/moonbirds-nft-sales-skyrocket-capturing-364-million-in-5-days/ https://news.bitcoin.com/moonbirds-nft-sales-skyrocket-captu... It's just not the same NFTs from 1-2 years ago that are doing high sales volume. Interest rotates around. Just look at the sales volumes overall.
    - hiq 5y ago
      My link explains that the wash sales prevent us from deducing anything from these numbers.
      - doopy1 5y ago
        Here's a thorough analysis of NFT wash trading. The activity is overstated, it's there, but the majority of volumes are not wash sales: https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering/ https://blog.chainalysis.com/reports/2022-crypto-crime-repor...
        hiq 5y ago
        These analyses can only come up with lower bounds rather than actual estimates. I'm not sure which part of the article you rely on to assert that "the activity is overstated", but it claims: > With blockchain analysis, however, we can track NFT wash trading by analyzing sales of NFTs to addresses that were self-financed, meaning they were funded either by the selling address or by the address that initially funded the selling address. Any wash sale not doing exactly that will be missed. The article itself is titled "Chainalysis Detects Significant Wash Trading and Some NFT Money Laundering" which does not bode well, on top of the arguments made in the HN comment I linked.

by shafyy 5y ago

None. They are noticing the NFT hype starting to die down, and now need to keep the ferris wheel running with something. Crypto is only marketing, there is no actual value created.

deleted 5y ago

[deleted]

jp42 5y ago

I wish you go through Foundation of Blockchain lecture series by Tim Roughgarden and also understand what cryptography is. I bet you will change you mind on - there is no math in crypto.

qorrect 5y ago
He did not say anything about cryptography.
Daishiman 5y ago
So how has that mapped into actually useful projects?

cato23 5y ago

[dead]

Tao331 5y ago
Is this a counterargument?

doopy1 5y ago

NFT hype is still going strong. https://dune.com/rchen8/opensea https://dune.com/rchen8/opensea

hiq 5y ago
Is it? https://news.ycombinator.com/item?id=30745139 https://news.ycombinator.com/item?id=30745139
- doopy1 5y ago
  Yes, it is! https://news.bitcoin.com/moonbirds-nft-sales-skyrocket-capturing-364-million-in-5-days/ https://news.bitcoin.com/moonbirds-nft-sales-skyrocket-captu... It's just not the same NFTs from 1-2 years ago that are doing high sales volume. Interest rotates around. Just look at the sales volumes overall.
  - hiq 5y ago
    My link explains that the wash sales prevent us from deducing anything from these numbers.
    - doopy1 5y ago
      Here's a thorough analysis of NFT wash trading. The activity is overstated, it's there, but the majority of volumes are not wash sales: https://blog.chainalysis.com/reports/2022-crypto-crime-report-preview-nft-wash-trading-money-laundering/ https://blog.chainalysis.com/reports/2022-crypto-crime-repor...
      - hiq 5y ago
        These analyses can only come up with lower bounds rather than actual estimates. I'm not sure which part of the article you rely on to assert that "the activity is overstated", but it claims: > With blockchain analysis, however, we can track NFT wash trading by analyzing sales of NFTs to addresses that were self-financed, meaning they were funded either by the selling address or by the address that initially funded the selling address. Any wash sale not doing exactly that will be missed. The article itself is titled "Chainalysis Detects Significant Wash Trading and Some NFT Money Laundering" which does not bode well, on top of the arguments made in the HN comment I linked.