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Eh I see your nuance and meet with further nuance. That was exactly the problem with Crypto. You had the base technology that had demonstrable value due to no

Eh I see your nuance and meet with further nuance. That was exactly the problem with Crypto. You had the base technology that had demonstrable value due to novel security mechanisms. But getting a lot of this value to investors was always difficult. And then you had technology that was useful for working with the base technology (NFT's, ZKSnarks, Smart Contracts) but was always going to be extremely difficult to extract value out of as a product. (Generally I see this category as a donation to open source programmers) And then you had a whole bunch of grifters and conmen trying to sell A or B as ridiculous science fiction transformations of the world. Even the businesses that had solid use cases, werent 10x or 100x valued. And most of them had to pivot out of the space as legislation caught up. The successful B projects just arent earth shattering. Which is proper imho. >and the currency uses have been totally dominated by scammers and criminals. Eh if this is true (which no longer seems to be the case outside of certain nations) keeping these mechanisms open and functional for my valid, legal use cases means that crime is having positive social outcomes.

marcus_holmes 4mo ago
I don't see NFTs (for example) as a valid product, it was always a scam. Always based on speculative gambling with no actual value to anyone underpinning it. And because of that, the whole "crime having a positive social outcome" doesn't work for me - doing crime to keep a scam going is not positive.
- protocolture 4mo ago
  >I don't see NFTs (for example) as a valid product, it was always a scam. Always based on speculative gambling with no actual value to anyone underpinning it. NFT is a protocol. Its technology. It shouldn't be a product, it should enable products. If NFT's were ever going to become widely used, they wouldnt be described as NFTs. Its like going around selling TCP/IPs to someone. Cryptokitties remains its most proven use case. The non fungibility of the token is perfect for encoding the unique genetics of the derpy looking cats. Theres no reason to pay eleven billion dollars for one, but the platform has never relied on that, just bit payments for trading and breeding. There's possible future uses in property trading, but again, the NFT should never be the point like the weird grifters tried to make happen.
  - marcus_holmes 4mo ago
    "In theory there's no difference between theory and practice. In practice there is" In theory you can use NFTs to make a valid product. In practice, it was part of the cryptocurrency culture who are locked into speculative gambling and so it was never going to be used for anything but that.

marcus_holmes 4mo ago

I don't see NFTs (for example) as a valid product, it was always a scam. Always based on speculative gambling with no actual value to anyone underpinning it. And because of that, the whole "crime having a positive social outcome" doesn't work for me - doing crime to keep a scam going is not positive.

protocolture 4mo ago
>I don't see NFTs (for example) as a valid product, it was always a scam. Always based on speculative gambling with no actual value to anyone underpinning it. NFT is a protocol. Its technology. It shouldn't be a product, it should enable products. If NFT's were ever going to become widely used, they wouldnt be described as NFTs. Its like going around selling TCP/IPs to someone. Cryptokitties remains its most proven use case. The non fungibility of the token is perfect for encoding the unique genetics of the derpy looking cats. Theres no reason to pay eleven billion dollars for one, but the platform has never relied on that, just bit payments for trading and breeding. There's possible future uses in property trading, but again, the NFT should never be the point like the weird grifters tried to make happen.
- marcus_holmes 4mo ago
  "In theory there's no difference between theory and practice. In practice there is" In theory you can use NFTs to make a valid product. In practice, it was part of the cryptocurrency culture who are locked into speculative gambling and so it was never going to be used for anything but that.