NFTs

[Stoneage Dinosaurs]

What actually are these? I swear I've read a whole ton of stuff about these and I still don't properly understand what they are. Is it like that copyright protection you used to get with songs and stuff on iTunes, but for pictures online instead? Or have I misunderstood it? Sounds like shit for cunts (if I've understood it correctly)

[Zetetic]

No, they're not to do with "digital rights management" and preventing the copying of the actual art.

They're more like certificates saying that you own one art. You can't easily destroy, fake or copy this certificate. The certificate is irrelevant to being able to copy or view the art.

Yes, that has as much actual utility as it sounds like.

[Twit 2]

S4Cs

[Goldentony]

cunts paying ether for binary code and destroying the planet in the process

[touchingcloth]

They're more like certificates saying that you own one art. You can't easily destroy, fake or copy this certificate. The certificate is irrelevant to being able to copy or view the art.

del

They're more like certificates saying that you own one art. You can't easily destroy, fake or copy this certificate. The certificate is irrelevant to being able to copy or view the art.

ctrl + c

They're more like certificates saying that you own one art. You can't easily destroy, fake or copy this certificate. The certificate is irrelevant to being able to copy or view the art.

ctrl + v

[Chairman Yang]

I could easily destroy the Internet. I just don't want to.

[Sebastian Cobb]

I could easily destroy the Internet. I just don't want to.

Will you do it for 50 quid?

[garbed_attic]

https://decrypt.co/62898/the-10-most-expensive-nfts-ever-sold

CryptoPunk #7804: $7.5 Million



...

WhIsBe, a contemporary artist in New York City, is the man behind a series of NFTs depicting gummy bears in various creative forms.

Although WhIsBe was originally known for his gummy bear murals throughout Brooklyn and massive statues spread in public spaces throughout the world, he recently turned his artistic talents to the realm of NFT art.

Makes Nathan Barley seem like such a sweeter, more innocent time.

[Perplexicon]

It's a massive con so people with vast amounts of cryptocurrency they can't do anything with can dump it in to what is essentially a paper napkin that says 'you are now the owner of this jpg file', except you don't actually physically get the napkin and all the napkins are stored in a warehouse that could turn on the sprinkler system at any moment, and to make the napkin you need to consume as much energy as a small European city. Given that the commercial value of music and art has basically been reduced to nothing under late-stage capitalism, lots of artists and musicians WHO SHOULD KNOW BETTER are getting in on the scam or at least dipping a toe in to the scam waters, rather than say, pushing for UBI so we could all go and make art in peace without having to ascribe pointless, rotting commercial value to it or setting fire to our dwindling planetary resources. S4C of the highest order.

[Poirots BigGarlickyCorpse]

fuck art

put on plays using dried up dogshits as puppets

[touchingcloth]

What does it mean with the first ever tweet being cold? Can the owner edit it so it says "Iam Elon Musks and I am a pedo guy"?

[Stoneage Dinosaurs]

Thanks guys. Still don't fully understand it but it sounds like wank for horrible tech nonces, so cheers :D

[Ignatius_S]

https://seths.blog/2021/03/nfts-are-a-dangerous-trap/

[Gurke and Hare]

all the napkins are stored in a warehouse that could turn on the sprinkler system at any moment

Yeah, but there's (sometimes) a hash that will confirm that the sprinkler system has been turned on, so it's alright.

[touchingcloth]

What's the energy usage issue? Does it take up more resources than any other data centre somehow?

[Poirots BigGarlickyCorpse]

What's the energy usage issue? Does it take up more resources than any other data centre somehow?

I think it's to do with the NFT being a blockchain or needing a blockchain? And they take a shitton of energy to generate. So much for your precious Bitcoins

[Zetetic]

Yes, the process of making it difficult to delete, fake or copy the certificate - or token or whatever - and its ownership involves a lot of computers doing a lot of work to keep agreeing who owns what certificate/token/napkin.

[touchingcloth]

I don't understand the blockchain at all. I've read about it but it all reads as mystical nonsense. I think I'm best off without bitcoins or tokens.

[Stoneage Dinosaurs]

I bought some bitcoins the other day, but I took them down to the arcade and lost them all in the coin pusher. Felt like a right twat after that

[Poirots BigGarlickyCorpse]

I don't understand the blockchain at all. I've read about it but it all reads as mystical nonsense.

Oh good it's not just me. I can't be doing with this newfangled nonsense.

[shiftwork2]

I think it's a trick by the young 'uns.

Non fungus tokens do they think we're daft mushrooms?

[touchingcloth]

Oh good it's not just me. I can't be doing with this newfangled nonsense.

Part of me can't shake the feeling that it's all bollocks and no one investing in it is brave enough to say they don't understand the maths. Hipsters' new clothes.

[idunnosomename]

i'd never heard of that Beeple cunt before he guested on the Corridor Crew Youtube channel (which is about visual effects and stuff, consistently interesting)  and he was one of the most instantly obnoxious cunts I've ever witnessed in my life. also his teeth were gross. but mainly he's a cunt and I hope - as now he is stinking rich - that he gets stabbed. except not really that is just a topical hilarious joke.

[Elderly Sumo Prophecy]

It's what you search for if you want ladyman porn, isn't it? Or is that something else...

[brat-sampson]

Yeah, it's all basically bullshit. You don't own the image, you're basically 'buying' something just to receive a receipt that proves you bought and thus 'own' it. You can then sell that receipt for profit so somebody else can 'own' it and will have a receipt to prove it.

I deliberately say 'a' receipt, as of course things can also be sold multiple times, generating multiple receipts and multiple 'owners' of the same thing. The thing itself is digital so of course can be copied and shared endlessly and lossly across the internet, but only those that paid will get a receipt.

It's *literally* as fucking dumb as that made it sound.

[Paul Calf]

The cryptographically-unique tokens make it possible to create real-world scarcity for digital objects, and artists have seized on the opportunity presented by the technology.

I mean, this is essentially what it's about isn't it? "Come on, proles. You've had your fun, but don't you think 30 years of Internet is enough? Playgrounds are only for the rich. Off you fuck back into your hovels designed by artificial scarcity so you can gaze longingly at the first-class internet."

[touchingcloth]

I for one hope this ushers in an era of door-to-door Wikipedia NFT salespeople.

[GMTV]

If bitcoins are perceived to have value then I guess this is the next logical step in the process.

[Poisson Du Jour]

It is dumb, but isn't it just slightly dumber than the value assigned to gold, ludicrously-priced watches, high-end fashion, rare pokemon cards etc? People are pretty bad at assigning value to things.

[Sebastian Cobb]

I mean, this is essentially what it's about isn't it? "Come on, proles. You've had your fun, but don't you think 30 years of Internet is enough? Playgrounds are only for the rich. Off you fuck back into your hovels designed by artificial scarcity so you can gaze longingly at the first-class internet."

Yes but perplexingly the only people who believe in it are crypto nuts who almost certainly never really respected copyright and have been torrenting everything.