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ultrafilter posted:Everyone is either in denial or counting on being able to get out before the bubble pops. There's also being a true believer. That's different from being in denial. Genuinely insane assumptions about how the world works, where all the obvious flaws don't matter.
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Nov 17, 2021 16:20
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funeral home DJ posted:The Pittsburgh Penguins’ “Consol Arena” was named after a coal company that went bust after a few years, which is still loving hilarious. Imagine being in a coal company and thinking not only that coal will go on forever but that you’ve got money to burn strapping your name on an arena. Fools and their money, etc. etc. TBH Pennsylvania bringing back the console wars in the mainstream/having a Coalcoin just because the city of Miami is doing it is entirely on brand
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Nov 17, 2021 16:20
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funeral home DJ posted:Whoever the goon was that pointed out that, in theory, you could have two NFTs pointed at the same target URL, you fuckin’ nailed it my friend. How does one even tell which one is the "real deal" if they're functionally identical?
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Nov 17, 2021 16:31
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There Bias Two posted:How does one even tell which one is the "real deal" if they're functionally identical? I'm launching TrustCoin tokens for decentralized vetting.
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Nov 17, 2021 16:35
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There Bias Two posted:How does one even tell which one is the "real deal" if they're functionally identical? Woah thats a whole lot of FUD Im seeing here
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Nov 17, 2021 16:38
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There Bias Two posted:How does one even tell which one is the "real deal" if they're functionally identical? None of them were ever real
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Nov 17, 2021 16:45
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Hey! Now someone else also has the same pretend ape picture as me! What the heck?! Honestly though I do think a low fee network could do a cool decentralized digital music market with NFTs. The functionality would be getting rid of the blood sucking middlemen in the music industry. The draw/pitch to users would be, hey if you want these artists to not starve maybe consider buying their art instead of streaming it. It probably wouldn't work because most people really like not valuing artistic labor.
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Nov 17, 2021 17:03
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So, Bandcamp but with crypto stapled on?
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Nov 17, 2021 17:06
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Justa Dandelion posted:Hey! Now someone else also has the same pretend ape picture as me! What the heck?! The biggest problem is that it is not technically feasible to store things like music catalogues on the blockchain. The nature of the technology means that any data you put on there requires an exponentially greater amount of storage from nodes on the network, since so many of them will need to keep copies of the blocks. (It's basically the opposite of the way things currently work, where a single file on a server can be accessed by many users on different computers. Instead, a single file on the blockchain has to be stored on many different servers running the blockchain nodes, but will only be able to be accessed by one user.) So you end up with needing to keep the actual music file in an AWS bucket, and at that point you're just doing NFTs but with MP3s instead of PNGs.
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Nov 17, 2021 17:07
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A Wizard of Goatse posted:So, Bandcamp but with crypto stapled on?
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Nov 17, 2021 17:09
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LanceHunter posted:Based on what happened last time, they'll be able to end the naming rights early for pennies on the dollar. Enron: *Changes company name to Astros Field* "AHAHAHAHAHAHAHAHAHAHAHA-
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Nov 17, 2021 17:13
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https://www.youtube.com/watch?v=ZwFiWZzAlRUquote:Alisa Verkuijl
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Nov 17, 2021 17:35
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funeral home DJ posted:Whoever the goon was that pointed out that, in theory, you could have two NFTs pointed at the same target URL, you fuckin’ nailed it my friend. It would be more fun to watch idiots scamming Dunning Krugerrands out of each other if not for the massive waste involved. Also them loving up electronics markets.
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Nov 17, 2021 17:40
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A better comparison would be if they decided to burn a forest down to power a recording studio for a day, rather than comparing the environmental toll for flying musicians on tour and whatever NFTs think they do. Which is “everything” to coiners
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Nov 17, 2021 17:43
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zedprime posted:Come now, it could be Bandcamp with crypto DRM. i don't think anyone involved in crypto is capable of programming functional DRM.
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Nov 17, 2021 17:49
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since when has DRM needed to be functional?
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Nov 17, 2021 18:03
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Or programmed?
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Nov 17, 2021 18:21
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A Wizard of Goatse posted:So, Bandcamp but with crypto stapled on? Bandcamp takes an absurd percentage of your revenue though. Adding on paypal fees and you're only walking with ~68% of your sales. E: to be clear though, I too believe NFTs are dumb as poo poo. Justa Dandelion fucked around with this message at 19:01 on Nov 17, 2021 |
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Nov 17, 2021 18:58
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Zil posted:I understand that those that are barely scraping by might need to resort to this when first getting an apartment, but I don't think they brag about it. Plus its coiners so its okay to point and laugh. It's not that they can't afford better, it's that every dollar spent on anything that isn't an absolute necessity is a dollar that's not (supposedly) earning massive gains in crypto markets One of the reason the Albanian Ponzi Collapse became the Albanian Civil War was because a lot of people had sold or mortgaged their very livelihoods to put more money into the money-go-up machine. Farmers were selling their livestock and seed and putting the money into the schemes, because the Ponzis were offering far greater rates of return than they could get from agriculture. Many people were selling their houses to get more money to invest in these schemes. Faced with absurd rates of return with no apparent limits or downsides, some people weren't satisfied with just putting their spare money into the scheme. The more money they put in, the more the gains would compound and the faster number would go up, so they sold everything they could afford to sell - they figured could always buy better stuff later after they'd cashed out their amazing gains and become incredibly wealthy! Or so they thought, right up until the schemes collapsed and all the money was lost.
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Nov 17, 2021 19:03
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Justa Dandelion posted:Bandcamp takes an absurd percentage of your revenue though. Adding on paypal fees and you're only walking with ~68% of your sales. Bandcamp host the music plus handles the sale. Any kind of crypto version would have similar if not higher fees.
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Nov 17, 2021 19:12
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Main Paineframe posted:It's not that they can't afford better, it's that every dollar spent on anything that isn't an absolute necessity is a dollar that's not (supposedly) earning massive gains in crypto markets People will read this and say “well the stock market” but unlike Ponzi schemes and crypto poo poo, equities are based in part on actual economic performance and you have rights as a shareholder. Also buying or selling a stock doesn’t turn a jungle into a hosed-to-death pile of ash
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Nov 17, 2021 19:16
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jokes posted:Also buying or selling a stock doesn’t turn a jungle into a hosed-to-death pile of ash
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Nov 17, 2021 19:53
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The company might, but the act of buying or selling the company’s stock doesn’t.
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Nov 17, 2021 19:54
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The phrasing you are looking for is that Bitcoin has an outsize effect on the environment dollar for dollar (even ignoring any utility real or imagined for Bitcoin or other securities). Finance is not without function (hopefully) and your impacts from buying the wrong stock range from implicitly acknowledging and encouraging torching the rainforest by increasing demand on the existing coupons related to rainforest torchers to explicit enabling by taking on the debts or coupons of the companies and polities doing the torching. The calculus is a little easier on Bitcoin cause it's not really doing anything on the side so you don't need to worry about buying the wrong Bitcoin since they are all wrong.
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Nov 17, 2021 20:12
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jokes posted:People will read this and say “well the stock market” but unlike Ponzi schemes and crypto poo poo, equities are based in part on actual economic performance and you have rights as a shareholder. Also buying or selling a stock doesn’t turn a jungle into a hosed-to-death pile of ash The stock market is pretty bad right now, but during the height of the Albanian Ponzi craze, the rates of return were in a whole different world. Part of the problem is that the different Ponzis started competing against each other, promising more and more unrealistic rates of return in an effort to win customers from each other. By the time of the collapse, Sude was offering to double your money in two months, and Xhaferri was offering to triple your initial investment in three months. Interest rates of 30+% every month are straight-up absurd.
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Nov 17, 2021 20:23
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Zil posted:I understand that those that are barely scraping by might need to resort to this when first getting an apartment, but I don't think they brag about it. Plus its coiners so its okay to point and laugh. https://youtu.be/9Tp9HfY_EMw
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Nov 17, 2021 20:31
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Zil posted:I understand that those that are barely scraping by might need to resort to this when first getting an apartment, but I don't think they brag about it. Plus its coiners so its okay to point and laugh. why rent or pay for all that waste space? also why dont they take a temp hit on coin gains and cash out and then buy the local power company and then give themseleves free power so they can turn 99% of their room into mining?
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Nov 17, 2021 20:46
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Justa Dandelion posted:Bandcamp takes an absurd percentage of your revenue though. Adding on paypal fees and you're only walking with ~68% of your sales. What? https://get.bandcamp.help/hc/en-us/articles/1500006084082-What-are-Bandcamp-s-fees- Just lol if you think 15% is high for an online portal.
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Nov 17, 2021 20:59
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Justa Dandelion posted:Bandcamp takes an absurd percentage of your revenue though. Adding on paypal fees and you're only walking with ~68% of your sales. The NFT doesn't replace any of the things Bandcamp does, though, it simply adds yet another service requiring an outside middleman who'll want their own cut on top of the existing ones. But while, say, Paypal adds a significant convenience and accessibility factor that means more sales in the end, I'm not clear at all on what NFTs would contribute in exchange.
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Nov 17, 2021 21:06
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Justa Dandelion posted:Bandcamp takes an absurd percentage of your revenue though. Adding on paypal fees and you're only walking with ~68% of your sales. I'd like to see numbers on that compared to the big distributors that provide music to other digital stores, Bandcamp's cut always sounded reasonable to me.
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Nov 17, 2021 21:14
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yeah 1/3 is a super light cut for any medium, Bandcamp's whole niche is the bare minimum services you need to get your music up for sale (they're not gonna do a lot of promotion, say) at a margin no other "publisher" can compete with. You could theoretically keep a little more of a percentage self-hosting, but it wouldn't be worth it unless one of your band members is a web developer with an extremely poor assessment of the value of his time, and naturally you're hosed as far as card processing etc. go
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Nov 17, 2021 21:26
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drk posted:i can't twitter good so I cant seem to link this directly, but here an actual copyright lawyer explains why NFT "contracts" really aren't, using the BAYC/MAYC terms as an example I read that, as difficult as it is on a phone, because I am not a lawyer, but understand just enough legalisms to enjoy this stuff when real lawyers chime in. Or like reading a document to pick out a Federal Judge have to say “buttcoin” on the record. This exchange was great!
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Nov 17, 2021 21:45
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funeral home DJ posted:To summarize the article: I can appreciate the scam, but are they really any better off now? I mean, is it not public like BTC, or can you “cash out” a percentage (fixer gets a cut) enough to live decently for a year or three like a decent lifestyle with pocket money? I always hear about the eth millionaires from jpgs but don’t know about eth like I do butts, because I always just figured it was like Litecoin or something. Edit: I’m not 100% ignorant of eth, just mainly that it was the reason gpus are evaporated and it was popular and “new” enough for a shitcoin to be like doge (in and out and in fashion). Is eth different than Litecoin or monero, or just the one the NFT stuff happened to be using when thought up? DerekSmartymans fucked around with this message at 22:27 on Nov 17, 2021 |
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Nov 17, 2021 22:16
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Ethereum is different in that you can write programs that are on the blockchain and can do "smart" stuff, like tokens and NFTs and lending and losing all your money due to programming errors. In contrast, the scripting in Bitcoin is so basic you can't really do anything fancy except send coins back and forth. Litecoin is just a Bitcoin clone. Monero is different in that it's built from the ground up with anonymity as a basis, and uses all this fancy cryptography tech to obscure where and how much money is being sent.
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Nov 17, 2021 22:37
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ymgve posted:Ethereum is different in that you can write programs that are on the blockchain and can do "smart" stuff, like tokens and NFTs and lending and losing all your money due to programming errors. In contrast, the scripting in Bitcoin is so basic you can't really do anything fancy except send coins back and forth. Litecoin is just a Bitcoin clone. Monero is different in that it's built from the ground up with anonymity as a basis, and uses all this fancy cryptography tech to obscure where and how much money is being sent. Ok that was all the stuff I did already know. Like the main use of BTC (crime) losing to Monero and my own Dad is asking about Litecoin (b/c PayPal :argh), and I knew enough of Eth to laugh at the DAO “hack (code is law, unless we fork it),” so I was more aware than I thought. This saddens me.
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Nov 17, 2021 23:58
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PhazonLink posted:why rent or pay for all that waste space? also why dont they take a temp hit on coin gains and cash out and then buy the local power company and then give themseleves free power so they can turn 99% of their room into mining?
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Nov 18, 2021 01:03
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A Wizard of Goatse posted:The NFT doesn't replace any of the things Bandcamp does, though, it simply adds yet another service requiring an outside middleman who'll want their own cut on top of the existing ones. But while, say, Paypal adds a significant convenience and accessibility factor that means more sales in the end, I'm not clear at all on what NFTs would contribute in exchange. they contribute innovation
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Nov 18, 2021 01:56
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funeral home DJ posted:Whoever the goon was that pointed out that, in theory, you could have two NFTs pointed at the same target URL, you fuckin’ nailed it my friend. So, hot new idea, to take this to the next level. I'm going to "mint" NFTs. The URL will be randomly pulled through existing NFTs. Just hundreds spontaneously created, all pointing at random other NFTs. Gonna add a little tag saying I actually made them and the others are fake, just to throw them off.
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Nov 18, 2021 05:32
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syntaxfunction posted:So, hot new idea, to take this to the next level. I'm going to "mint" NFTs. The URL will be randomly pulled through existing NFTs. Just hundreds spontaneously created, all pointing at random other NFTs. You have to pay fees for every one you mint, so the NFT community of scammers who are washing their money with etherium would appreciate your contribution to the price of eth.
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Nov 18, 2021 05:43
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What if I just make my own Blockchain NFT thing that wholesale copies theirs? It's all open source right? What are they gonna do, say forking a crypto thing isn't allowed?
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Nov 18, 2021 06:10
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