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yohoho io

2021-06-02

¡¡¡¡flag PeaFunk

¡¡¡¡(May 27, 2021 at 11:16)

¡¡¡¡Cryptocurrency is the worst invention of the 21st century.

¡¡¡¡15 10

¡¡¡¡flag jrocksdh

¡¡¡¡(May 27, 2021 at 11:17)

¡¡¡¡Silly

¡¡¡¡65 3

¡¡¡¡flag Lemmyschild

¡¡¡¡(May 27, 2021 at 11:18)

¡¡¡¡….its early yet.

¡¡¡¡85 9

¡¡¡¡flag mnorris122

¡¡¡¡(May 27, 2021 at 11:24)

¡¡¡¡Cryptocurrency is useful for many things, but NFTs make my mind explode

¡¡¡¡8 3

¡¡¡¡flag Jvhowube

¡¡¡¡(May 27, 2021 at 11:25)

¡¡¡¡There are some projects that are quite smart and useful. Most of the garbage deserves to get washed away though – talking about the scams / money grabs. I’m thinking the recent -50% is just the start of another bear market – good riddance until the next cycle.

¡¡¡¡4 1

¡¡¡¡flag nvranka

¡¡¡¡(May 27, 2021 at 11:26)

¡¡¡¡If it is, then we are lucky.

¡¡¡¡25 8

¡¡¡¡flag pourquois-pas

¡¡¡¡(May 27, 2021 at 11:36)

¡¡¡¡blockchain will be revolutionary. I’m still not sold on its application as a currency. NFT’s actually have a lot of promise – like confirming ownership of original digital art (the music biz is all over this), but the stuff we’re hearing about in media is mostly for entertainment.

¡¡¡¡21 7

¡¡¡¡flag Freerideguy14

¡¡¡¡(May 27, 2021 at 11:36)

¡¡¡¡It’s gunna be a very rough decade for you if you continue with this take my fren

¡¡¡¡13 6

¡¡¡¡flag sino428

¡¡¡¡(May 27, 2021 at 11:42)

¡¡¡¡@mnorris122: Some of these NFTs seem stupid for sure, but its really no different than art, or sport collectables, or baseball cards, etc. I mean those aren’t my thing at all but they are big business. This is really just the digitization of those things.

¡¡¡¡I mean look at the selling of that first tweet. What is the difference between that and say someone having gotten their hands on the first iphone prototype, or something like that.

¡¡¡¡15 1

¡¡¡¡flag daugherd

¡¡¡¡(May 27, 2021 at 11:53)

¡¡¡¡@sino428: difference is the idea that you ¡°own¡± something digital that has been replicated and broadcast. Do you own it when the author typed it or clicked upload or do you own it based on the first view, it¡¯s too ambiguous and really a way to flex that you have too much money. Owning a physical proto iPhone however is different. It¡¯s real and it¡¯s actually scarce. The value is still only perceived based on market demand but at least it¡¯s physical and eliminates the question of what it means to have it.

¡¡¡¡13 8

¡¡¡¡flag ADGproductions

¡¡¡¡(May 27, 2021 at 11:57)

¡¡¡¡@PeaFunk sounds like someone sold instead of holding HAHA

¡¡¡¡25 8

¡¡¡¡flag suspended-flesh

¡¡¡¡(May 27, 2021 at 11:59)

¡¡¡¡@PinkEbike:

¡¡¡¡Can we get NFT and Crypto filters to go along with the E-bike filter, please?

¡¡¡¡10 2

¡¡¡¡flag ROOTminus1

¡¡¡¡(May 27, 2021 at 12:01)

¡¡¡¡@sino428: except that it isn’t; all of those collectables are tangible, and have some intrinsic worth (even if its close to ¡ê/$0).

¡¡¡¡NFTs are the promise of ownership of “something else” that relies on a constant stream of spending to maintain that claim. It has an indefinite negative intrinsic value.

¡¡¡¡8 0

¡¡¡¡flag mnorris122

¡¡¡¡(May 27, 2021 at 12:01)

¡¡¡¡@sino428: The difference is that here is Jack Dorsey’s first tweet. twitter.com/jack/status/20?lang=en

¡¡¡¡There’s no scarcity to it. A Gretzky rookie card or the first ever iPhone sold is collectible because it’s rare.

¡¡¡¡4 2

¡¡¡¡flag Lloydmeister

¡¡¡¡(May 27, 2021 at 12:16)

¡¡¡¡@mnorris122: and you can go to Paris and look at the Mona Lisa.

¡¡¡¡5 3

¡¡¡¡flag gnarlysipes

¡¡¡¡(May 27, 2021 at 12:36)

¡¡¡¡@mnorris122: Right. Too many people conflate NFTs with cryptocurrency. The common thread of the blockchain has many useful applications.

¡¡¡¡3 1

¡¡¡¡flag fracasnoxteam

¡¡¡¡(May 27, 2021 at 13:52)

¡¡¡¡@ADGproductions: non lambo for him

¡¡¡¡17 3

¡¡¡¡flag jfry

¡¡¡¡Plus

¡¡¡¡(May 27, 2021 at 14:03)

¡¡¡¡Confirming ownership of art has positive uses. Unfortunately block chain tech is way to energy inefficient to use or support at this time. Ethereum 2.0 has promise of reduced energy consumption of that block chain network, but that doesn’t address Bitcoin or any of the other blockchain coins.

¡¡¡¡Besides all that, it seems the current purpose of NFT is to launder money not necessarily support artists or collect art.

¡¡¡¡”According to The University of Cambridge Bitcoin Electricity Consumption Index, Bitcoin has an electricity consumption of 129.24 TWh per year ¨C that¡¯s more than entire countries such as Argentina and Ukraine, which consume 125.03 and 128.81 TWh each year, respectively. In comparison to Canada, Bitcoin uses approximately a quarter of the electricity that Canada would consume in a year.”

¡¡¡¡energyrates.ca/crypto-mining-why-does-bitcoin-use-so-much-energy

¡¡¡¡9 4

¡¡¡¡flag sino428

¡¡¡¡(May 27, 2021 at 14:17)

¡¡¡¡@mnorris122: Maybe the iphone was a poor comparison saying a prototype. Say you had the first production iphone off the assembly line. Call it serial #000001. It itself is not rare because there were millions of identical phones produced. But its probably valuable because its the first one, the original one.

¡¡¡¡With regards to the Dorsey tweet, the NFT gives you the original digital copy, not a copy of something you viewed on the internet. Like the article pointed out, this is not really any different than art, where there may be thousands of copies or prints of a piece that are almost indistinguishable from the original, but there is only once signed copy by the artist. Or think of game used memorabilia. At the end of the day its just a nike basketball shoe or football, etc. But people will pay thousands of dollars because that shoe belonged to Lebron or Kobe. Even though the first tweet has been viewed millions of times, there is only one original.

¡¡¡¡Now don’t get me wrong, some of this shit is absolutely stupid and insane. Nor do I buy any of it myself. But these NFTs aren’t any dumber than some of the other “collectable” shit people pay alot of money for.

¡¡¡¡4 0

¡¡¡¡flag pink505

¡¡¡¡(May 27, 2021 at 14:20)

¡¡¡¡@ADGproductions: It’s HODLing in the crypto world not holding….

¡¡¡¡6 12

¡¡¡¡flag pink505

¡¡¡¡(May 27, 2021 at 14:34)

¡¡¡¡(Below Threshold)

¡¡¡¡@ROOTminus1: Remember when when all things went digital. It was going to be the end of the world. This stuff is a bit of a generation “hey boomer” kind of thing…

¡¡¡¡Most kids today wont ever own or pay off their homes..

¡¡¡¡Most kids are happy to pay 15$ a month for spotify/apple and none of them own a single song or album

¡¡¡¡Most kids don;t see a huge difference between a text or speaking with the person directly

¡¡¡¡But I digress….

¡¡¡¡Buy gold and see what happens….the kids ain’t buying gold, the kids aren’t buying our houses when we get old or die, the kids don’t go to the bank and other then birthday money from grandparents don’t us cash. The world has changed us boomers and Xer need to get over it and buy the dam ebike.

¡¡¡¡Electronic cash is the future if you pick the winner it will be like amazon/apple/google, pick the loser and it will be like the corner store,/blackberry/the newspaper….NFTs: don’t get them but don’t get tangible collectables either.

¡¡¡¡11 0

¡¡¡¡flag thustlewhumber

¡¡¡¡(3 days ago)

¡¡¡¡Art world is a massive money laundering marketplace.

¡¡¡¡4 1

¡¡¡¡flag acali

¡¡¡¡(3 days ago)

¡¡¡¡@pourquois-pas: There is already a way to own digital art. Its called copyright.

¡¡¡¡2 6

¡¡¡¡flag kirchenschlager

¡¡¡¡(3 days ago)

¡¡¡¡(Below Threshold)

¡¡¡¡mad because you didn’t get in early. its ok man. we’re still early

¡¡¡¡1 0

¡¡¡¡flag frreride4life420

¡¡¡¡(3 days ago)

¡¡¡¡@mnorris122:

¡¡¡¡3 9

¡¡¡¡flag boozed

¡¡¡¡(3 days ago)

¡¡¡¡(Below Threshold)

¡¡¡¡@mnorris122: “Cryptocurrency is useful for many things”

¡¡¡¡Are any of them legal?

¡¡¡¡2 6

¡¡¡¡flag GBeard

¡¡¡¡(3 days ago)

¡¡¡¡(Below Threshold)

¡¡¡¡@jfry: @jfry: Under methodology the charts show that efficiency is increasing drastically every year with ASIC miners, .8 J/Gh to .04 J/Gh, that is a 20 fold increase in efficiency in 7 years. Also this bit: “The amount of electricity consumed every year by always-on but inactive home devices in the USA alone could power the Bitcoin network for 1.9 years.” That puts it into perspective a bit better. We aren’t crucifying people who leave stuff plugged in or forget to turn stuff off, are we? Are we wondering the societal cost of leaving your coffee maker plugged in when you leave for work? This is just the latest FUD narrative.

¡¡¡¡8 4

¡¡¡¡flag Jvhowube

¡¡¡¡(3 days ago)

¡¡¡¡@boozed: lol your boomer is showing

¡¡¡¡3 0

¡¡¡¡flag suspended-flesh

¡¡¡¡(3 days ago)

¡¡¡¡@gnarlysipes: I’m all about the blockchain, but I’m willing to bet that 98% of NFTs are purchased with crypto which really makes twisted sense but isn’t really relevant on an MTB site other than to generate comments like this one. Unless YT starts accepting BTC for sold out bikes, I’d rather not have to wade through the content. Not a big deal either way tho.

¡¡¡¡2 5

¡¡¡¡flag pourquois-pas

¡¡¡¡(3 days ago)

¡¡¡¡@acali: yes and no… an NFT for digital music is effectively like owning the old school record press plate masters, not the copies used to produce records, the actual masters.

¡¡¡¡it seems from this thread that a lot of people need to get over there dated understanding of things digital as not being “real”.

¡¡¡¡1 4

¡¡¡¡flag pourquois-pas

¡¡¡¡(3 days ago)

¡¡¡¡@boozed: blockchain allows for less friction in the currency markets. Have you ever moved a decent sum of money around? it takes forever… try selling a house, buying a house, paying off everyone involved… it takes weeks for funds to move around. Why? antiquated systems, inefficient checks and balances and a whole bunch of hands dipping into the pot along the way.

¡¡¡¡3 1

¡¡¡¡flag suspended-flesh

¡¡¡¡(3 days ago)

¡¡¡¡@pourquois-pas: Exactly. Every system that touches our money makes money from it and deprives us from doing so.

¡¡¡¡6 0

¡¡¡¡flag sino428

¡¡¡¡(3 days ago)

¡¡¡¡@pourquois-pas: where do you have you money that it takes weeks to move around? I agree that the current system isn¡¯t the most efficient but saying it takes ¡®weeks¡¯ to get the money in order to buy or sell a house is quite an exaggeration.

¡¡¡¡1 0

¡¡¡¡flag suspended-flesh

¡¡¡¡(3 days ago)

¡¡¡¡@pink505: How about You do You.

¡¡¡¡2 0

¡¡¡¡flag endurogan

¡¡¡¡(3 days ago)

¡¡¡¡@Lloydmeister: and the museum can charge you to enter otherwise you dont get to see the mona lisa unless the nft is an unreleased peice its impossible to regulate who has copies of it

¡¡¡¡2 0

¡¡¡¡flag endurogan

¡¡¡¡(3 days ago)

¡¡¡¡@jfry: clearly the solution is to get rid of canada

¡¡¡¡1 0

¡¡¡¡flag enduroFactory

¡¡¡¡(3 days ago)

¡¡¡¡blockchain will run everything you do and interact with in life, silly no its progress

¡¡¡¡2 1

¡¡¡¡flag sprecks57

¡¡¡¡(3 days ago)

¡¡¡¡Would you say the same if you would have spent 10 USD on it in July 2010?

¡¡¡¡6 1

¡¡¡¡flag boozed

¡¡¡¡(3 days ago)

¡¡¡¡@pourquois-pas: “try selling a house, buying a house, paying off everyone involved… it takes weeks for funds to move around. Why?”

¡¡¡¡Because legislation requires them to.

¡¡¡¡You “it’s about the tech!” guys are so precious. It was never about the tech. It’s always been about “number go up!”

¡¡¡¡1 0

¡¡¡¡flag Will-narayan

¡¡¡¡(3 days ago)

¡¡¡¡@daugherd: To me it shows things are going the wrong way : This whole NFT thing should make us realize how stupid things have become with real world art and collectibles. Or more generally how money is disconnected from “real value”. So we should back up in the real world and stop wasting money, but instead we’re thinking hard to implement in virtual world the same stupid things as we’re already doing for real.

¡¡¡¡Of course we can’t prevent each and every form of irrationality, but if we all were a bit more down to earth, bit more human, we’d think about it more often and control ourselves. When the average family makes about 30000¢ã/year and some painting get sold for 100.000.000¢ã

¡¡¡¡As someone who tried to get some work in the bike industry as a CG artist but didn’t make a dime, this article is particularly “ironic”.

¡¡¡¡I got contacted by one of those NFT thing to copyright my pictures. I wouldn’t even understand the point. I was like “what ? It’s just a render, it’s the work that has value, the years of practice, the software knowledge, the design skills, not the render ?!”. And then the crypto art started going crazy :p

¡¡¡¡5 0

¡¡¡¡flag Mini-Pinner

¡¡¡¡(3 days ago)

¡¡¡¡@pourquois-pas: Quite the opposite is true. Block chain is simple 50+ year old computer science. The application as a means of transactional currency ledger is really the only novel thing about it. There is a reason we use databases, not block chains for most things. That’s not even mentioning the horrible environmental impact of proof of work.

¡¡¡¡1 0

¡¡¡¡flag Warburrito

¡¡¡¡(2 days ago)

¡¡¡¡Agreed about worst invention. It gave one huge benefit in my opinion…currency not tied to or controlled by a govt entity. However, it has opened a gateway to have new cryptocurrencies created by national or worldwide govt entities which will allow them to seize more power over your lives, financial situation, purchasing decisions, payroll, etc, it just hasn’t happened YET.

¡¡¡¡Its funny now, but it won’t be for long.

¡¡¡¡4 0

¡¡¡¡flag ctd07

¡¡¡¡(2 days ago)

¡¡¡¡@thustlewhumber: I’ve always thought modern art is just a front for money laundering, why on earth else would someone pay $2.5mil etc for some stupid dot or splash on a canvas…. its money laundering

¡¡¡¡1 2

¡¡¡¡flag pourquois-pas

¡¡¡¡(2 days ago)

¡¡¡¡@sino428: It takes 5 days to move funds from a bank to an online investment platform.

¡¡¡¡My good friend just sold a house and built another after buying land, so 3 transactions involved, and three lawyers offices, and three banks. It took 10 days from the initial payment until he had the proceeds sent to his account.

¡¡¡¡I actually am very skeptical of crypto as a currency. Not too fond of the Winklevoss’ controlling global currency. But I do hope it disrupts the financial system to a degree that makes it more consumer friendly and efficient.

¡¡¡¡1 0

¡¡¡¡flag pourquois-pas

¡¡¡¡(2 days ago)

¡¡¡¡@boozed: regardless, given the speed of the economy these days the financial institutions need to catch up. regardless of why they’re currently slow.

¡¡¡¡1 0

¡¡¡¡flag suspended-flesh

¡¡¡¡(2 days ago)

¡¡¡¡DTC bikes companies and (nearly) free equities trading platforms have benefited the consumer. Hopefully some long term good will come from this as well. “Why not?”

¡¡¡¡1 1

¡¡¡¡flag zephxiii

¡¡¡¡(2 days ago)

¡¡¡¡My gf’s dad sent her some money a month ago. We had to go to Walmart, stand/wait in line, and deal with a human to receive the money. While standing there I thought if he would have just bought some LTC, sent it to her wallet, it would have been faster, cheaper, and we wouldn’t need to leave the house!

¡¡¡¡Now there’s other ways that are better as well, I just thought that it was a real painful way of doing things compared to via LTC etc.

¡¡¡¡1 0

¡¡¡¡flag sino428

¡¡¡¡(2 days ago)

¡¡¡¡@pourquois-pas: still doesn¡¯t make any sense. 5 days is not ¡®weeks¡¯.

¡¡¡¡1 0

¡¡¡¡flag sino428

¡¡¡¡(2 days ago)

¡¡¡¡@zephxiii: that does sound painful but there are many platform (PayPal, Venmo, cash app, etc) where you can just send someone $usd immediately. No need to buy LTC.

¡¡¡¡1 0

¡¡¡¡flag zephxiii

¡¡¡¡(1 days ago)

¡¡¡¡@sino428: yeah I know, that’s why I mentioned Smile

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