iskander

23 ms·

211.
by iskander 5y ago
>The only value I can comprehend in all this is that of the ledger's utility in facilitating trading on the secondary market (since the artist doesn't need to go and vouch for everybody who eventually buys/sells the owners
212.
by iskander 5y ago
>NFTs are not durable Some of the more prized NFTs are entirely on-chain; I agree that ones which just encode a URL of an image feel very superficial and brittle. >Scarcity is entirely illusory across ecosystems Every successful ETH N
213.
by iskander 5y ago
It's kinda the opposite of DRM though, there's a strong culture of CC0 / public domain licensing in the NFT space. The idea is that you should be able to use and remix media freely but you can preserve a kind of monetary valu
214.
by iskander 5y ago
To really act meaningfully in the world outside crypto, DAOs needed to be wedded to LLCs so they can participate in the legal system. But...the DAO governance structure allows very low friction, high transparency coordination between pseudo
215.
by iskander 5y ago
Social interpretation of the contract that the token is attached to. e.g. if your Art Blocks NFT is on the Art Blocks contract, it's authentic. If it's the same image on a different contract, it's inauthentic. Just saw your e
216.
by iskander 5y ago
I thought so too but now met enough people who believe in that interpretation and seen the virality of it; feel like it might have cultural legs. We'll see if it survives the crypto bubble popping and the monetary value of all the expe
217.
by iskander 5y ago
Maybe the most likely future of all...
218.
by iskander 5y ago
It depends on your interests, I just joined a decentralized biotech discord where people are exploring alternative funding mechanisms for both non-profit science and biotech startups. There are quite a few art discords/communities that
219.
by iskander 5y ago
Nah, I kinda like it. It's a very idealistic and optimistic space with a vision for creating a commons that's not owned by any one commercial entity. The scams will drop away when the current bubble bursts but the web3 culture + t
220.
by iskander 5y ago
You can make art according to your own creative impulses (and get paid for that) or...you can make commissioned porn for furries. Choose wisely.
221.
by iskander 5y ago
It wouldn't have any value for lack of actual provenance (you can test this by trying to sell your own copy of Fidenza, please report back).
222.
by iskander 5y ago
A provenance certificate which is socially interpreted as ownership. Not going to argue whether that's a good or durable interpretation of ownership, just attesting that some people really do feel it.
223.
by iskander 5y ago
It's essentially a state of intention: people buying art to appreciate having it rather than with an intention of selling. Most people in the NFT space are flippers riding bubbles, but a few actual collectors really do exist.
224.
by iskander 5y ago
Some people really feel it, I know a few long-term collectors. Some people are into the VR galleries they assemble, others buy non-standard sized displays fit for specific NFTs to display in their homes. It's definitely an odd little c
225.
by iskander 5y ago
Why assume you need a pseudonymous persona to map onto a real world ID? Check out how DAO proposals work at e.g. https://gitcoin.co/grants/
226.
by iskander 5y ago
> then that infrastructure manages to survive and continue to provide value even after the cryptocurrency house of cards collapses. That's my optimistic forecast for what happens after the current speculative bubble pops. We'll
227.
by iskander 5y ago
I think you have to participate a bit in the non-speculative side to get a feel for the culture and social movement that's brewing there. New entrants aren't the ones to watch since they're probably jumping in to make money,
228.
by iskander 5y ago
It's legit very hard to sift through the scamminess of the space, I've been thinking of it as the cost of revolutionary potential: exponentially more people rush in to profit off "being early". I would say start with web
229.
by iskander 5y ago
I think it's easy to miss the content at the core of the movement given how thoroughly it's wrapped in gold rush and scamming. But the more time I spend around the space the more it seems that there is a legitimately transformativ
230.
by iskander 5y ago
I think what Stephen misses in his campaign against crypto is that the old ideals have already been coopted and smothered with the corporatization of the web and splintering of what was a decentralized ecosystem into a megacorp walled garde
231.
by iskander 5y ago
That's kinda the point. The "collector" can feel like they own it -- using an idiosyncratic new definition of ownership that you don't really have to agree with but other collectors/speculators/crypto peoplke a
232.
by iskander 5y ago
I remember getting hit by reordering when I was in college, getting by on a coffee shop job. The bank ordered a group of concurrently unresolved deposit/withdrawals to maximize the overdraft fees (I think I got hit with ~3x $35). It se
233.
by iskander 5y ago
...last quarter. They ran the housing market up 2x, took profits along the way, and dismantled the operation when banks put a cap on mortgages.
234.
by iskander 5y ago
>If they outbid everyone who actually wanted to live there, who were they planning to sell to? :P The same set of people who would move their price points up after a few months and get larger mortgages. This worked for all of 2020 and mo
235.
by iskander 5y ago
Because they would outbid people who actually want to live in those homes, essentially front-running the middle class to earn a massive profit.
236.
by iskander 5y ago
It's more complicated than that since they also have a huge influence on prices through Zestimates. They undoubtably kept housing prices rising for the past few years, which was very profitable to them as large scale flippers.
237.
by iskander 5y ago
If you cut past the gold rush and speculative bubble, the current uses are pretty mundane fintech stuff. Deposit savings, take out loans, &c.
238.
by iskander 5y ago
For newer cryptocurrencies you often buy them and then either (1) stake them (earn rewards for contributing to network security) or (2) deposit them in a crypto-bank like Aave and earn yield from having your money loaned out. Increasingly p
239.
by iskander 5y ago
Most crypto chains suck for small-to-medium payments. The fees on some layer 2 solutions for Ethereum look promisingly low (between $0.06 and $0.30 depending on the specific L2), but these are just starting to get adopted and integrated int
240.
by iskander 5y ago
That's my worry about the integration of crypto into tradfi (via BTC ETFs, stablecoin savings accounts, &c). It's OK if crypto is a hellstorm of speculation because it rides on top of rapid experimentation. However, it's

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