Bitcoins/Litecoins/Virtual Currencies

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Torrid

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Dr. Dre wears a new pair of nike air force 1s every day. We live in an age of inequality that has never really been seen before. Rich people literally have nothing else to spend their money on and they like things that showcase how much money they can waste. NFTs are the new toy for them.

Although I do like how NFTs can be a way for starving artists to not starve. If it's a way to funnel wealth without coercion from rich idiots to poor artists, then great.
 
Lightning Lord Rule

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Kais said:
Make a FoH NFT Series. Bets on which will be more valuable, 14 days, kate's hoof, or Lorrie's fake tits.
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Make forum registration a NFT...

R.8b6fc180952fe9e15fecaf64d3873661
 
T

Torrid

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lol Cardano doesn't even have smart contracts yet and it's one quarter ETH's market cap. Fools and their money
 
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James

James

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Lightning Lord Rule said:
Correct me if I'm wrong but what you linked is more of just an ID? What I'm talking about is more like a private club where the access pass is an NFT.
Selling people the perception of exclusivity!
Click to expand...

I guess I'm unclear on the difference between an ID and an access pass? When you register with ENS, you mint an NFT which serves as an ID token.
 
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James said:
I guess I'm unclear on the difference between an ID and an access pass? When you register with ENS, you mint an NFT which serves as an ID token.
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Right. And if you don't have that 721 token, your ID only displays as your wallet address, correct? So in my 'for instance' imagine you needed a 721 token to register for FoH.org. Or a 721 token to see the Pol forum on the site, similar to what I've done with Latinum. Or a 721 token to make a post at the extreme end...

That's actually kind of spooky. Taken to its logical extreme, you could in theory monetize the entire internet, making what was once 'free' enormously expensive. That'll be .0001 ETH for that shitpoast sir, thank you and drive thru!
 
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Arden

Arden

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Lightning Lord Rule said:
That's actually kind of spooky. Taken to its logical extreme, you could in theory monetize the entire internet, making what was once 'free' enormously expensive.
Click to expand...

Now you're beginning to get it. How to monetize the internet has always been an issue since the beginning of the internet. This is built in Internet monetization.
 
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Arden said:
Now you're beginning to get it. How to monetize the internet has always been an issue since the beginning of the internet. This is built in Internet monetization.
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I've kind of always gotten the concepts involved in it, just never put a lot of thought into it.

I can see it going to the way of 'everything is now crazy expensive and poors are locked out', but otoh I could see it also going 'since we think everything digital has value, none of it does' IE the plot to 'The Incredibles'. In all likelihood there will be both of those extremes operating in tandem rather than all of one or another. The trick as always is ID'ing the things that will take off early.

Either way, I foresee enormous upheaval over this in the not so far term. Finance is part of it, but data itself is going to be swept up into this whirlwind if it picks up enough steam. There's also trying to foresee what the major gov players will do when a critical mass is reached that threatens their power over information. Not over $ per se, but data. That's assuming no such agency or CCP Mil intel doesn't already have their tentacles into ETH at the ground floor, which wouldn't shock me in the slightest.


This is approaching derail/tinfoil territory though, so grain of salt and all that.
 
James

James

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Lightning Lord Rule said:
So in my 'for instance' imagine you needed a 721 token to register for FoH.org.
Click to expand...

Yep, this is exactly what ENS implements, it gives you the token necessary to ID yourself for registration in the first place, and yes, you've taken it to the logical conclusion (which, imo, is the core purpose of crypto and especially not derail/tinfoil hat territory) that the new internet has a value layer that didn't exist in the previous version, things you wouldn't realize just sitting on your Bitcoin.
 
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Mist

Mist

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Lightning Lord Rule said:
That's actually kind of spooky. Taken to its logical extreme, you could in theory monetize the entire internet
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You can already try to put a paywall anywhere you want on the internet. Unless your content is amazing, no one will buy it. NFTs do nothing new other than let people sell their ownership on their own terms, which honestly isn't something that content makers actually want to implement.

For instance, you could purchase digital media that are linked to NFTs, like CDs or movies, and then you'd be able to actually resell or trade things that you purchased. But the people selling that content would never actually implement that system; they don't want people reselling digitally purchased products. A video game company doesn't want you selling your account or your characters elsewhere, they want it to happen on their marketplace or not at all.

NFTs are actually great for a bunch of pro-consumer ideas, really allowing for true ownership of digital goods, but that stuff will never, ever get implemented.
 
Arden

Arden

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Lightning Lord Rule said:
I've kind of always gotten the concepts involved in it, just never put a lot of thought into it.

I can see it going to the way of 'everything is now crazy expensive and poors are locked out', but otoh I could see it also going 'since we think everything digital has value, none of it does' IE the plot to 'The Incredibles'. In all likelihood there will be both of those extremes operating in tandem rather than all of one or another. The trick as always is ID'ing the things that will take off early.

Either way, I foresee enormous upheaval over this in the not so far term. Finance is part of it, but data itself is going to be swept up into this whirlwind if it picks up enough steam. There's also trying to foresee what the major gov players will do when a critical mass is reached that threatens their power over information. Not over $ per se, but data. That's assuming no such agency or CCP Mil intel doesn't already have their tentacles into ETH at the ground floor, which wouldn't shock me in the slightest.


This is approaching derail/tinfoil territory though, so grain of salt and all that.
Click to expand...

Yeah, that's kind of what I mean. Lots of people get the concepts, but not a lot of people have put much thought into the consequences. I think it's one of the least talked about but most important elements of the crypto paradigm shift. You can say I've got a tinfoil hat if you want, but I think that's largely intentional on the part of crypto devs.

I don't think it results in a scenario where poor people can't access the internet, but I DO think it results in a scenario where developers don't need to rely on adds or donations to earn money with their projects. In that regard, I think it's great.
 
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James said:
Yep, this is exactly what ENS implements, it gives you the token necessary to ID yourself for registration in the first place, and yes, you've taken it to the logical conclusion (which, imo, is the core purpose of crypto and especially not derail/tinfoil hat territory) that the new internet has a value layer that didn't exist in the previous version, things you wouldn't realize just sitting on your Bitcoin.
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I meant the implication that all of this wouldn't even be getting off the ground with at least the tacit approval or secret backing of the most nefarious intel agencies extant. A la Fakebook originally being a DARPA project. That is likely tinfoil territory.

Arden said:
Yeah, that's kind of what I mean. Lots of people get the concepts, but not a lot of people have put much thought into the consequences. I think it's one of the least talked about but most important elements of the crypto paradigm shift. You can say I've got a tinfoil hat if you want, but I think that's largely intentional on the part of crypto devs.

I don't think it results in a scenario where poor people can't access the internet, but I DO think it results in a scenario where developers don't need to rely on adds or donations to earn money with their projects. In that regard, I think it's great.
Click to expand...
Sure, left to its own devices such things could be great, but I'm HIGHLY skeptical that there's not some way for govs to manipulate this system and it's not a giant trap for the entire world.

Keep in mind, the VAST majority of the world's monopolies (and the fortunes that go with them) are built upon gatekeeping information or resources, and those current gatekeepers will be loathe to give it up without a fight. That some of these gatekeepers are getting on board the crypto train is not to me encouraging, but the opposite. It has me searching for where/how these giants such as mastercard are trying to insert themselves in such a way as to keep their control.

I'm not saying it's impossible to avoid such a scenario, as the people working on this tech are nothing if not nimble. The powers allayed against them in favor of the current order are the giants of current order though with multiple trillions of dollars at stake, to say nothing of the fate of nations. I can't believe that they don't have lots of smart people who have had this very conversation we are having and thought of a way to exploit the situation to their advantage...
 
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James

James

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Mist said:
A video game company doesn't want you selling your account or your characters elsewhere, they want it to happen on their marketplace or not at all.
Click to expand...

NFTs flip this dynamic on its head, secondary market sales tax can be baked right into the NFT (granted it's very easily circumventable using a wrapper but we've found out that isn't a huge deal so far). Why waste money developing and bootstrapping a niche marketplace when your NFT collection can get global exposure on an already existing marketplace with tons of available liquidity?

Lightning Lord Rule said:
I meant the implication that all of this wouldn't even be getting off the ground with at least the tacit approval or secret backing of the most nefarious intel agencies extant. A la Fakebook originally being a DARPA project. That is likely tinfoil territory.
Click to expand...

Not really tinfoil territory still imo, SHA-256 itself is secure because the NSA says so and cracking that would unwind the entire crypto ecosystem. Whether or not the NSA has a SHA-256 backdoor is a very legitimate question!
 
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Lightning Lord Rule

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James said:
Not really tinfoil territory still imo, SHA-256 itself is secure because the NSA says so and cracking that would unwind the entire crypto ecosystem. Whether or not the NSA has a SHA-256 backdoor is a very legitimate question!
Click to expand...
Hmm, interesting. I think that's one of those things where, even if they do have a backdoor they will always say they don't and deny anyone any access for fear of that info leaking. For that would unwind a LOT more than just crypto.

The other question to ask if this is all dependent on SHA-256, is what happens when quantum computers render all brute-forceable solutions irrelevant? Assuming that's possible. I haven't been keeping up on developments in that particular field.
 
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