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This is genuinely the best analogy yet
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Nov 6, 2021 13:09
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I want to nitpick about the definition of scams here. By the rules explicitly stated in the libertarian hellscape handbook all of this is great! Epic Beard Man(EBM) put some amount of effort pixelating a pig using what appears to be a bird on a stick. While on the other side of the rock the man who sold his beard for what was described as a pig but appears to be a bird. He bought a link that's listed on the immutable database ledger of the future that will forever point to that specific server link that currently hosts a pig-bird because that's what immutable means, I think. No kink shaming.
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Nov 6, 2021 13:27
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https://twitter.com/coffeebreak_YT/status/1456701329368403972
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Nov 6, 2021 14:45
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NFTs actually using tangible art, and lovely art at that, of which any means of actually showing off what you have means it can be effortlessly and endlessly duplicated, inherently gives it a much shorter shelf life than cryptocurrency which remains usefully vague and easy to bullshit around and repackage with new buzzwords.
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Nov 6, 2021 14:53
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https://twitter.com/ReinH/status/1456753521387208707?t=7FMzOb8SQ-RghkKDhBcmIA&s=19
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Nov 6, 2021 14:58
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Talorat posted:Is there a crypto system that doesn't rely on burning insane amounts of energy and also doesn't have this rich get richer design? Are those the only top options? Oh there's also a method based on completely wasting as much hard drive space as you possibly can!
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Nov 6, 2021 16:52
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Talorat posted:Is there a crypto system that doesn't rely on burning insane amounts of energy and also doesn't have this rich get richer design? Are those the only top options? most have both of these flaws
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Nov 6, 2021 16:53
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Main Paineframe posted:a NFT can be anything. it's just a snippet of text in the blockchain You can burn an NFT, right? Has anyone ever used this to put a taunt or piece of incriminating evidence in the blockchain, then sold it to the, uh, interested party so that they can destroy it?
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Nov 6, 2021 16:58
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Feste posted:You can burn an NFT, right? well you cant remove things from the blockchain so this would not work
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Nov 6, 2021 17:00
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punishedkissinger posted:well you cant remove things from the blockchain so this would not work Only the transactions would remain
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Nov 6, 2021 17:03
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If I recall correctly, “burning” just means sending it to a dead address, so if you wrote the incriminating evidence directly on the block chain it would be there forever.
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Nov 6, 2021 17:16
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Yeah you just send it to an address nobody can access and its "burned" in the same sense that you get burned when you forget your wallet password.
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Nov 6, 2021 17:22
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Blockchain is basically exactly the same as technical analysis. In technical analysis you grab your safety crayon with your whole fist and you draw different triangles on a chart of stock prices, and then make up complicated names for the different shapes. "OH this one is called a Descending Crescendo Echo". If you push through the jargon you realize everything comes down to basically astrology you make up with your own hand drawn constellations. Blockchain is exactly the same but you start with the most basic and dated computer concepts like a hash or a token ring LAN and then you mush them together and combine them while making up similar phrases like ownership, burning, NFT and all this other bullshit jargon until people start to believe there's something there that isn't running md5sum in a loop until your strawberries are dry.
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Nov 6, 2021 17:28
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Vesi posted:I'm glad you asked Of loving course.
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Nov 6, 2021 17:57
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Halibut Barn posted:Oh there's also a method based on completely wasting as much hard drive space as you possibly can! The whole thing is designed to inconvenience us personally, as the cryptobros are gobbling up all the chips and leaving none for us to upgrade our posting stations. 
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Nov 6, 2021 17:58
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Nothing on a blockchain takes only 60 seconds to complete
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Nov 6, 2021 18:01
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Talorat posted:If I recall correctly, “burning” just means sending it to a dead address, so if you wrote the incriminating evidence directly on the block chain it would be there forever. LoL, thank you both. So the answer is always that blockchain stuff is dumber than you expect it to be?
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Nov 6, 2021 18:20
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Talorat posted:Is there a crypto system that doesn't rely on burning insane amounts of energy and also doesn't have this rich get richer design? Are those the only top options? Not really, no. There's Proof of Storage, where you render a bunch of hard drive space unusable and then get mining power corresponding to how much hard drive space you burned, but that's basically just a matter of how many hard drives you can afford. Rich-get-richer is basically a fundamental design property of blockchain poo poo. Since it's decentralized and anonymous and trustless and all that, giving out coins and network influence equally to everyone would result in people spinning up a ton of lightweight VMs and having them all connect up as separate nodes. Blockchain's solution to that problem is to require nodes to commit non-trivial amounts of real-world resources, and render those resources unusable by anything else while they're associated with a node. That way it doesn't matter how many nodes someone creates, they only get network influence in proportion to the resources they can afford to commit. That's also why the vast majority of mining work is pointless - they're wasting computing power just to demonstrate that clients actually have that computing power available and aren't trying to lie to the network. Similarly, proof of storage writes semi-random garbage to the hard drives just to prove that the hard drives are there and aren't being used for anything else. The random garbage is totally useless, it's just there to prove that the node's owner really did spend money on computer equipment for the sole purpose of mining crypto. The computer equipment itself is mostly unnecessary, it's just to show how much actual money the node is committing to being able to mine. There's a little actual processing miners have to do to keep the network functioning, but that doesn't take more power than Iceland.
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Nov 6, 2021 18:27
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ghosTTy posted:It's unbelievable how much this thread is a signal that it's still very early NC;DR (No Chart;Didn’t Read)
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Nov 6, 2021 18:28
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Feste posted:LoL, thank you both.  The answer is always that blockchain stuff is dumber than you are able to fathom it could be, even more than you think is possible to expect it to be! Not to be a broken record, but I always had an idea that the particulars of the “Lightning Network “ would be silly and redundant, but I was not prepared for something so incredibly dense, procedurally dumb and opaque, and so horrible but actually written where others can see it in public and sign on!!! As a person with an insight into this (not only as a part of professional training and competency testing but also as a genuine rubber-room enthusiast for two decades), the “Lightning Network” is incredibly funny to me because it’s touted as a fixed improvement” to Bitcoin and Blockchain woes. “That’s Goddamn Stupid!” Doesn’t make as good on a T-shirt logo, though. YMMV
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Nov 6, 2021 18:50
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Interpol (the band) got together with Lynch to make NFTs. They preemptively saved their rear end from scorn by claiming they'd buy in carbon credits to compensate the energy waste. Now local cartoonists i follow on Twitter are thinking of entering the game, and shills only egg them on. For someone like the band but more so for small-time cartoonists, it really does seem like a no brainer to enter, fleece some idiots and cash out right away, right? I would say that as this becomes more common and more corporations/brands just enter, sell and then cash out, you would think this would eventually lower the value of the things, but there's also fresh cash constantly coming in from stuff like fans of bands buying in, so maybe it will be a self sustaining cycle an it's here to stay? Super sad about it but i wonder if it's even worth getting mad at my favorite band or cartoonists for trying to cash in.
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Nov 6, 2021 20:36
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Zefiel posted:Interpol (the band) got together with Lynch to make NFTs. They preemptively saved their rear end from scorn by claiming they'd buy in carbon credits to compensate the energy waste. Yes, it'd be cool if they were able to cash out, but people like 'local cartoonists' are exactly who they want to sign up. They're probably not gonna cash out, cryptobros aren't interested in that poo poo. However, they sure are gonna burn some ether to mint the NFTs, so number goes up!
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Nov 6, 2021 20:54
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What's the next stage, people buying up NFT CDOs? And by people, I mean your pension fund.
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Nov 6, 2021 20:58
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ShredsYouSay posted:What's the next stage, people buying up NFT CDOs? And by people, I mean your pension fund. Misread this as "NFR CODs" but that also would not be out of place at all in 2021
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Nov 6, 2021 21:02
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Zefiel posted:Interpol (the band) got together with Lynch to make NFTs. They preemptively saved their rear end from scorn by claiming they'd buy in carbon credits to compensate the energy waste. There's a scam that claims to destroy the planet that we've decided to participate in, but don't worry! There's also a scam that claims to save the planet that we'll be participating in as well.
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Nov 6, 2021 21:05
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As best as I can tell a lot of the things like bands or Square-Enix are mostly looking at NFTs as merch, which is probably the most logical way to look at it if you don't want to turn the bug over and see the antic scramblings of an inexperienced, mentally-impaired God.
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Nov 6, 2021 21:13
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Zefiel posted:Interpol (the band) got together with Lynch to make NFTs. They preemptively saved their rear end from scorn by claiming they'd buy in carbon credits to compensate the energy waste. the people getting talked into making NFTs are getting fleeced too creating and selling NFTs costs cryptocurrency, with no guarantee that they'll even make back that upfront cost, and even less guarantee that they'll be able to convert that funny money back to dollars in the end. and the whole time they'll be embedded in the crypto ecosystem, surrounded by thirsty scammers and unrealistically attractive offers in every direction, creating endless temptation for people who only entered crypto in the first place to make a quick buck
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Nov 6, 2021 22:03
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Main Paineframe posted:the people getting talked into making NFTs are getting fleeced too When I learned that you need to buy the crypto to make an NFT, the scam finally made complete sense. As other posters mentioned, the NFT evangelists don’t give a crap about the NFTs (even going as far as just attaching loving Hyperlinks as proof of ownership of an image Jesus Christ), they’re just looking to sell their emissions pogs to other people as a means of cashing out. Even if this wasn’t a mess for the environment and energy usage, and it was free to create NFTs, the drat thing falls apart once you realize that someone else can screenshot your “owned” image and create an NFT for ownership of the same exact image at a different Hyperlink, then sell or license that work for less money. If I’m corpo-shitpants and some dude has a picture of a cartoon monkey eating rear end and wants to license it for $500, what’s preventing me from screen-shotting it, changing two or three colors or reversing the image, and just licensing it to myself for free?
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Nov 6, 2021 22:47
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EorayMel posted:Misread this as "NFR CODs" but that also would not be out of place at all in 2021 I would wear an NFT CODpiece, and sell receipts for URLs to millions of unique cryptbros. We’d have to do the deal off-chain, though, to fool the IRS crypto-squad, the Unmentionables.
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Nov 7, 2021 01:46
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Detective No. 27 posted:https://twitter.com/ReinH/status/1456753521387208707?t=7FMzOb8SQ-RghkKDhBcmIA&s=19 i unitonically do this when interviewing architects. i ask them what they see as interesting developments in the industry and to try to predict where it’s heading. anyone who starts getting excited about blockchain gets a polite ‘don’t call us we’ll call you’
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Nov 7, 2021 02:12
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PIZZA.BAT posted:i unitonically do this when interviewing architects. i ask them what they see as interesting developments in the industry and to try to predict where it’s heading. anyone who starts getting excited about blockchain gets a polite ‘don’t call us we’ll call you’ There is no freaking way I could avoid laughing the applicant out of the room if they mentioned “blockchain” during an interview, even to walk my dog. It just calls into question your entire decision making process, to the point I would legit ask them how a brain development that retarded remembers to breathe effectively. “In. What’s next?” (USER WAS PUT ON PROBATION FOR THIS POST)
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Nov 7, 2021 02:20
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DerekSmartymans posted:Not to be a broken record, but I always had an idea that the particulars of the “Lightning Network “ would be silly and redundant, but I was not prepared for something so incredibly dense, procedurally dumb and opaque, and so horrible but actually written where others can see it in public and sign on!!! I'm not familiar with it, what's so stupid about it? I mean other than the fact that it's basically an online bank that pretends to operate with bitcoins but actually doesn't, because the only way to make bitcoins usable as a currency is not to use them.
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Nov 7, 2021 02:22
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From the schaden thread:Happy Landfill posted:You gotta fill out a form 8300 for selling NFTs now
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Nov 7, 2021 03:22
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duffmensch posted:From the schaden thread: 
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Nov 7, 2021 03:24
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Elman posted:I'm not familiar with it, what's so stupid about it? I mean other than the fact that it's basically an online bank that pretends to operate with bitcoins but actually doesn't, because the only way to make bitcoins usable as a currency is not to use them. This looks like a good Lightning Network analysis and diss, though the China references might be a bit dated now and the author namedrops their own favourite cryptocoin two or three times: http://galgitron.net/Post/Why-Lightning-Network-Sucks-Balls
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Nov 7, 2021 03:56
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Elman posted:I'm not familiar with it, what's so stupid about it? I mean other than the fact that it's basically an online bank that pretends to operate with bitcoins but actually doesn't, because the only way to make bitcoins usable as a currency is not to use them. It doesn’t act as an online bank. I would say more like opening a pre-paid line of credit with every single entity you wish to do business with in the future. And it just so happens that any new or unexpected setup takes longer than the BTC multiple confirmations slowing down the blockchain’s built-in transactions. And even set up in advance, if something happens like a price increase (or Bitcoin loss in value) or extra fees or tax or buying an extra small coffee for a friend unexpectedly you may not have funded your specific wallet address and need to add money from another wallet (confirmed a couple of times on chain, just like a new account) or create multiple new wallets to push money back to funding or to a new “for tips” address. A 16 year old living in an urban area might have to pre-fund and de-fund hundreds of new addresses every day, and this “solves” the slow pace of the blockchain? Much less some McDonald’s coffee hour needing access to the chain hundreds of times an hour at seven (theoretical) transactions per second? With the ability to make Bitcoin wallets on the fly? It gets more unwieldy as the day progresses; honestly it gets dumber as you consolidate wallets and doesn’t take volatility of coiins into account at all. This will increase speed and drive adoption. It gets dumber as you try to increase types of transactions for the multiple uses of currency possible discretely and again, is affected by price volatility of butts which can change literally during a transition from buyer’s money to seller’s product. Which means you might need 1 Satoshi and need to create a new wallet for that single Satoshi to complete a deal. Other parts are actually confusing. Please, try to think about teaching this process(es) to your Mom & Dad over the phone two states over. It still isn’t done yet, and I refuse to think more tonight on it. I will warn you, some parts and use-cases get even more convoluted. 
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Nov 7, 2021 04:21
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I tried to read the wikipedia article and got as far as this image before my brain hurt
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Nov 7, 2021 05:20
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I don't think that's a problem. That's a fairly typical service layer diagram which is a common way of communicating design in the tech industry. It takes a great deal of effort to understand just how bad everything related to crypto is Well not NFTs. It's easy to understand how stupid NFTs are.
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Nov 7, 2021 05:38
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A lot about crypto makes sense considering it's literally based on broken chains of logic from people who don't understand it, and work backwards from the idea that 'this will make me rich'. You can't talk them out of it by pointing out the faults in the chain of logic, because they will instantly and effortlessly completely change their logic to something different, and back again. For almost certainly being people who'd spit bile at the idea of 'postmodernism' they embody the ideals perfectly. That and again, worship of capitalism as a religion and internalised ignorance of material realities is pretty key to it. The whole ancap ideology that goes on about 'decentralised' and 'non-hierarchal' structures and completely, genuinely misses and can't understand that capitalism inherently, absolutely requires centralisation and hierarchy. Though it's not like it's uncommon to treat supposed rules of capitalism as laws of physics and not social constructs that only matter as long as they are enforced.
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Nov 7, 2021 05:58
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Ghost Leviathan posted:A lot about crypto makes sense considering it's literally based on broken chains of logic from people who don't understand it, and work backwards from the idea that 'this will make me rich'. You can't talk them out of it by pointing out the faults in the chain of logic, because they will instantly and effortlessly completely change their logic to something different, and back again. For almost certainly being people who'd spit bile at the idea of 'postmodernism' they embody the ideals perfectly. you forgot the part where they know how it works and they put all their effort and work into trying to keep the scheme running anytime there’s a major sell off into an exchange with USD, like coinbase, they pull the plug. there’s more than a few old school sociopaths from wall st working with the exchanges. https://a16z.com/2021/10/05/our-proposals-to-the-senate-banking-committee/ goons are here shitposting while crypto feudal lords bribe the senate
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Nov 7, 2021 07:32
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