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Zil posted:This is good for bitcoin "wallet inspector" will soon be a real profession
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Jan 26, 2022 11:32
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A kid born today, will in 30 years have only a vague idea what the term NFT is, but he and everyone around him will be using NFTS in everything everywhere always. It is primarily a digitally enforced contract technology, just as valid as a written contract, and far more flexible and applicable across anything and everything you can think of! This contract is recorded on a public ledger and is tied to: 1. An asset that can be publicly traded. 2. A digital placeholder that can be anything from a simple jpeg to a cube sculpture with screens built on the inside that is updated by the artist or by an algorithm codes into the contract( google “beeple cube”) The specific value of the contract is what determines the inherent worth of the NFT (Intrinsic Value for the finance bros). Most people are skeptical of the value of an NFT beyond the infamy of the artist or art. What actually matters outside the niche art world is the intrinsic value of the contract tied to the NFT. For example, imagine Walmart stops accepting USD and adopts an in-house system like how video games have in game currency. This move gives them more control and security over their margins so there is no chance every store and brand doesn’t do this over the next 30 years. These are backed by crypto Walmart tokens on the Walmart in house blockchain, or an established blockchain they have a deal with(this contract would be an NfT as well Hehe). A variety of NFTs sold by Walmart give you Walmart tokens to spend in the store. Some have perks in the contract, like a free shopping spree of $1000 once a year. Since nft a can be publicly traded like a stock, a market firms around this NFT. This is the formation of another layer of market that humans have never had before. It adds a lot more complexity and flexibility to your and my life as people with money that they give and take in the economy. The nft has a graphic/animation tied to your Walmart account(also digitally represented through an nft) that can scan the barcodes of what you buy so that you can just walk in and out of the store. (aside: do you see how this makes banks leas relevant? Not worthless, but less powerful). Much easier and cheaper than hiring cashiers, with the added bonus of a seamless customer experience that takes the liability off of Walmart and onto the customer. Fusion of a publicly traded asset and a highly customizable contract mixed with creative and modern uses of animation and graphic design gives you endless opportunities across all of society where using NFTs on blockchain is insanely more efficient and environmentally friendly than our current logistical structure. We see NFTs dominated now by art and collectibles because that’s the use that has the least amount of barriers to entry and is what the technology easily caters to, but as we have more time with NFTs, you will see banks using them as investments vehicles, similar to the theory behind how mortgages were packaged prior to 2008. Every legal document you ever sign will be an NFT of some form. Your subscriptions and memberships sill be tied to NFTs. Your identity cards, your criminal history, your movie tickets, your health insurance profile, your contract with your employer. Everything will be an NFT because it is recorded forever and is easily referenced, impossible to cheat or delete(in 99.99% of cases) is a coded dynamic contract that can be updated and be given dynamic properties that aren’t possible in the current legal contracting framework. Legislature will be NFTs, the law will literally be tied to an nft. If you think of how smoothly cellphones replaced dial up, or how the internet has completely pushed television and radio out of the picture (pun intended) its easy to see how nfts will take over everything we do in pretty much all areas of life everyday.
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Jan 26, 2022 11:49
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Source ur quotes.
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Jan 26, 2022 11:56
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google beeple cube ron paul kill your parents 2024
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Jan 26, 2022 12:00
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Mac and Cheese posted:beeple cube Cool! 
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Jan 26, 2022 12:22
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Mac and Cheese posted:A kid born today, will in 30 years have only a vague idea what the term NFT is, but he and everyone around him will be using NFTS in everything everywhere always. It is primarily a digitally enforced contract technology, just as valid as a written contract, and far more flexible and applicable across anything and everything you can think of! This contract is recorded on a public ledger quote:For example, imagine Walmart stops accepting USD and adopts an in-house system like how video games have in game currency. This move gives them more control and security over their margins so there is no chance every store and brand doesn’t do this over the next 30 years. These are backed by crypto Walmart tokens on the Walmart in house blockchain, or an established blockchain they have a deal with(this contract would be an NfT as well Hehe). A variety of NFTs sold by Walmart give you Walmart tokens to spend in the store. quote:Fusion of a publicly traded asset and a highly customizable contract
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Jan 26, 2022 12:28
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Mac and Cheese posted:The nft has a graphic/animation tied to your Walmart account(also digitally represented through an nft) that can scan the barcodes of what you buy so that you can just walk in and out of the store. When I worked in China, there were supermarkets where you would just scan at the door and it monitored everything you grabbed and deducted it automatically when you left, no need to even scan barcodes. This is going full horrific corporate dystopia daydreaming about a world run on NFTs and it's STILL not as far-thinking and actually-based-in-reality as what already exists.
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Jan 26, 2022 12:37
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Can someone explain to me how NFTs enable VIP access to stuff any differently or more effectively than what HNWI schemes already provide? I get invites to some VIP (very light emphasis on the V) stuff, and receive some elevated privileges from my bank, as a consequence of having a reasonable amount of filthy fiat deposited with them, and from other entities as a result of owning or having owned stuff that is aspirational, or having attended previous events to which invites were only sent to qualifying individuals. There are certainly stratas above me, HNWIs, UHNWIs and so on, who are getting invited to events and such that I am completely oblivious to because I'm not at that level. As far as I'm concerned those events & privileges might as well not exist, because I'm not in those inner circles, so to speak. All of this is achieved and has been achieved for however many centuries - e.g. Gentlemen's clubs - without needing NFTs or indeed the blockchain. As far as I can make out the major "selling" point of NFTs (seems to only be that Bored Ape poo poo that is getting actual mainstream exposure, rather than everything else trying to emulate it) in this context is that the rest of the world gets to know your net worth? Is that supposed to be a good thing? That concept seems pretty gross to me on a fundamental level. Also, how useful is it to the companies pitching to these people? If I had got in early on an NFT that "mooned", it might have only cost me $1000 or something at the time, but now I'm supposed to be considered on the same level as actual celebrities who bought theirs for $100k or $millions? I might as well be a bum in these exclusive events as far as the other clientele is concerned, and about as useful - in terms of capital - to any entity attaching themselves to them. I must admit though - the idea that a Bored Ape Yacht Club event might involve the likes of Jimmy Fallon, Paris Hilton, Eminem, etc mixing with your average crypto true believer """millionaire""" is quite an amusing thought. Durzel fucked around with this message at 12:55 on Jan 26, 2022 |
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Jan 26, 2022 12:52
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Pretty much all of Cryptocurrency and Blockchain is just reinventing or recreating things that already existed in the past, but in a dumber and less efficient manner.Scam Likely posted:Add it all up, and if you scored more than 5 then you're a Crypto dipshit today. "Is a Libertarian" automatically gives 10 pts.
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Jan 26, 2022 13:01
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Durzel posted:
that's a lol
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Jan 26, 2022 13:31
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Durzel posted:Sadly because of the length I've seen people comment on it saying that they sat through 20 minutes and decided that he was "against crypto" so switched off. We probably shouldn't be surprised that they don't understand that a production should be edited for clarity and consistency. Production values and quality control really aren't their thing.
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Jan 26, 2022 14:13
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Taerkar posted:Pretty much all of Cryptocurrency and Blockchain is just reinventing or recreating things that already existed in the past, but in a dumber and less efficient manner. I wonder about the anti crypto liberation that must exist out there somewhere. What combinations of malfunctioning brain circuits can loop back to getting something basically right
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Jan 26, 2022 14:30
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ikanreed posted:anti crypto liberation 
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Jan 26, 2022 14:32
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TVsVeryOwn posted:I was talking to someone online today who had seen the Dan Olson video but still believed there was "promising technology behind crypto". I tried to tell him that the useful part of it was already deployed and called Git. Taerkar posted:Pretty much all of Cryptocurrency and Blockchain is just reinventing or recreating things that already existed in the past, but in a dumber and less efficient manner. Thread: https://twitter.com/colmmacc/status/1486025976819552263
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Jan 26, 2022 14:33
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https://twitter.com/danielralston/status/1485774388909592576
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Jan 26, 2022 14:36
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Ok, so I'm reading about the new NFT shoe startup that collected $5 million in funding and after the 4th time I think I'm finally starting to get it. Basically, you use the shoes for walking and then you get a nft jpeg of a shoe that you can customize. You then rent the jpg out to people who want to have the jpg and you become an NFT landlord and earn a living by walking. There is also something about NFT socks that I'm still not completely sure about. I'm gonna go read it again
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Jan 26, 2022 14:57
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The evolution from paying a monthly fee for everything to paying a monthly fee for nothing Incredible
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Jan 26, 2022 14:59
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GABA ghoul posted:Ok, so I'm reading about the new NFT shoe startup that collected $5 million in funding and after the 4th time I think I'm finally starting to get it. Basically, you use the shoes for walking and then you get a nft jpeg of a shoe that you can customize. You then rent the jpg out to people who want to have the jpg and you become an NFT landlord and earn a living by walking. There is also something about NFT socks that I'm still not completely sure about. I'm gonna go read it again Mods whats the policy on posting about self harm
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Jan 26, 2022 15:06
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That was both exhaustive and exhausting. Commentary runs on and on. And on. After 2:18 I'm not sure I gleaned much more from the original point, that "it's all mostly a new platform for the richer and "elite" to get richer". I watched another video of his where he breaks down the truth about chicken nuggets with similar seriousness with the same atomic-level point-by-point commentary. Good on him for getting the truth out, but that minutia was just overkill.
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Jan 26, 2022 15:10
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Now imagine you had to read a book instead.
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Jan 26, 2022 15:13
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Paladinus posted:Now imagine you had to read a book instead. Oh no. I'd prefer to get the audible version on YouTube instead
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Jan 26, 2022 15:23
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Honestly I think https://www.youtube.com/watch?v=XwMjPWOailQ is a better introduction to it all, the folding ideas video is so thorough and long and full of minutae while also having a lot of man talking in empty white space that's easy to get distracted from, whereas the Josh one is a pretty good 101 introduction to the common misunderstandings of what NFTs are and can do with a bit more in the way of easy to follow guides.
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Jan 26, 2022 15:39
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I'm really annoyed that a pretty big group of artists I know are randomly being offered an NFT seminar from this guy: I looked up his artist credentials and they involve zero actual art making. Dude writes code and travels the world posting Crossfit stuff and doing similar seminars. It feels justified to warn artists to stay away from this crypto-bro and his search for new bag holders.
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Jan 26, 2022 15:47
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Scam Likely posted:↑↑ Greg of Doom ↑↑ That was posted within an hour of it being released. Khorne fucked around with this message at 17:01 on Jan 26, 2022 |
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Jan 26, 2022 16:46
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I had to explain what 2008/9 was like to a kid who’s just out of college and he straight-face said “it wasn’t that bad, everything bounced back a year later” and holy loving poo poo do I hate the youths. I also completely understand why they are getting (and deserve to be) scammed
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Jan 26, 2022 16:56
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https://twitter.com/Bitfinexed/status/1486367402392707077?s=20 so lol what the gently caress, world gdp in 24 hr volume in one stable coin? https://coinmarketcap.com/ suuuuure
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Jan 26, 2022 17:03
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jokes posted:I had to explain what 2008/9 was like to a kid who’s just out of college and he straight-face said “it wasn’t that bad, everything bounced back a year later” and holy loving poo poo do I hate the youths. I am also old
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Jan 26, 2022 17:05
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( google “beeple cube”)GABA ghoul posted:Ok, so I'm reading about the new NFT shoe startup that collected $5 million in funding and after the 4th time I think I'm finally starting to get it. Basically, you use the shoes for walking and then you get a nft jpeg of a shoe that you can customize. You then rent the jpg out to people who want to have the jpg and you become an NFT landlord and earn a living by walking. There is also something about NFT socks that I'm still not completely sure about. I'm gonna go read it again
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Jan 26, 2022 17:06
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Sombrerotron posted:It's already beyond me that anyone would honestly think "yes I want all my purchases and sales, including ones that potentially concern great amounts of money, to be publicly visible for everyone in the entire world with an internet connection", but then... I use Venmo against my will because all my friends are on it, but I don’t understand why transactions need to be a social network.
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Jan 26, 2022 17:15
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Dinosaurs! posted:I use Venmo against my will because all my friends are on it, but I don’t understand why transactions need to be a social network. If someone has no seriously-held beliefs nor content of their character, what do we have left to measure them by but their purchases?
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Jan 26, 2022 17:37
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I like the idea of needing different gift certificates for every single store. Like whoever proposed it never stopped to think “hmmm why exactly DID civilizations move to some kind of widely accepted currency?” and it’s fascinating that it just didn’t occur to them
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Jan 26, 2022 18:10
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Khorne posted:People born after 9/11 and too young to know about the 2008 crash make up a significant portion of crypto & nft markets. The explosion of retail investing apps & tiktok peddlers is what caused this second wave (vs the first mainstream public wave in 2017 or so) of cryptomania. lol I never considered this. They think things are literally the best they've ever been. lmao
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Jan 26, 2022 18:31
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Things are the worst ever right now. It was better in the past when *waves hand vaguely at a time where person wasn't alive or was too young to remember/be aware of things*
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Jan 26, 2022 18:34
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things now are neither the worst nor the best. they are in the middle, and both sides have a point
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Jan 26, 2022 18:45
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it's like when you are driving a car over the cliff and you're starting to feel yourself going down but you think to yourself 'well this is alright right now i guess'
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Jan 26, 2022 18:46
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So I've been reading about how those monkeys got stolen from the original buyer's account on Opensea 1. When you signup on Opensea to sell your NFT, (or buy a NFT), you give Opensea the ability to control the NFT. Opensea can move your NFT's ownership to another person but they won't do it unless they have proof. 2. You list your item for <X> ETH, and to save on Gas fees instead of adding something to the blockchain, you generate a message that says, "I want to sell this for <X> ETH", you encrypt with your private key, give it to Opensea to store. Opensea does not put this on the actual blockchain, it just stores it in one of it's centralized databases. 3. Someone comes along and wants your NFT. He looks at how much Opensea is listing it for (based on the generated message) and tells Opensea, "Okay I want this, here's <X> ETH. The buyer also sends OpenSea the message as proof that you want to sell it for <X> ETH. First OpenSea checks to make sure you still own it by comparing the wallet address of the person who created the sale, then it transfers the ownership of it to the buyer after verification. 4. But let's say you actually wanted to list the NFT at <X+10> ETH. You can't just tell OpenSea to delete it from their central database that stores this. Because this message was available publicly, anyone who saved this message can just go to step #3 and tell OpenSea to allow him to buy it for <X> ETH because he has a signed message from you saying to sell it at that price. So what you need to do is make a transaction on the actual Ethereum blockchain saying, "This message I wrote about the price. Please never sell it based off this message" and poof that message is blacklisted and now you're free to relist your NFT at <X+10> ETH. So you go through the steps again to do that, now you have an NFT that's available for <X+10> ETH. 5. But it costs money to cancel the original <X> ETH sale. So to save on Gas fees, users figured out that if they move the NFT out of their wallet, OpenSea no longer sees that the NFT belongs to you. The message is tied to your wallet address so if it no longer matches OpenSea just assumes you sold it or moved it out of that wallet and removes that listing from their site. After the owner of the NFT sees that OpenSea removed their original listing, he believes he's free to relist the NFT. 6. The problem is that most people transfer the NFT back to their original wallet after they did the trick in #5. They generate a new message and list their monkey for <X+10> ETH and then wait for the next sucker. 7. The issue is the older message about selling for <X> ETH still exists in Opensea's database and is still valid. Apparently the hacker used their API or just scraped the website for these older signed messages. Once the hacker found those, he took that message to Opensea and basically said, "This guy wants to sell it for <X> ETH, here's the message that proves this was the price he wanted to sell at." Opensea looks at the message, verifies that you signed it, then also verifies that the wallet address is the same as when you originally signed the message. All of it checks out and Opensea sends the monkey to its new owner.
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Jan 26, 2022 18:46
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Mozi posted:it's like when you are driving a car over the cliff and you're starting to feel yourself going down but you think to yourself 'well this is alright right now i guess' Also known as "A Brexit"
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Jan 26, 2022 18:52
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Strong Sauce posted:So I've been reading about how those monkeys got stolen from the original buyer's account on Opensea So opensea is just a really good example of how well crypto folks code their stuff, is what I'm getting here
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Jan 26, 2022 18:53
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Somfin posted:So opensea is just a really good example of how well crypto folks code their stuff, is what I'm getting here You obviously must be explaining it wrong. Repeat after me: "Code. Is. Law."
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Jan 26, 2022 18:57
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Somfin posted:So opensea is just a really good example of how well crypto folks code their stuff, is what I'm getting here it actually works as expected. Opensea's not liable because ... well they're not regulated but if they were they could just point to the fact that these people didn't cancel their original sale. but look at how much i had to write to explain it... basically imagine all monetary transactions requiring that much ceremony just to sell and relist it for a different price and if you don't pay the proper cancellation fees someone can just come by and steal i t.
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Jan 26, 2022 18:58
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