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OpenSea is an online market for digital goods. A majority of the prices are denominated in cryptocurrencies (ie an item is priced at 1 ETH). As measured in USD,

OpenSea is an online market for digital goods. A majority of the prices are denominated in cryptocurrencies (ie an item is priced at 1 ETH). As measured in USD, OpenSea did 8% of Amazon's volume in a month.

dmitriid 5y ago
Had anyone tried to convert those fictional tokens to actual usable money, you'd very quickly find out that the actual volume is about 0%.
- Bayart 5y ago
  Off-ramping is a non-issue. It's like saying the stock market is worthless because its value is predicated upon keeping capital tied into it. Really, you can extend the same reasoning to any market. It's fine being a nihilist, but not very realistic.
  - dmitriid 5y ago
    > Off-ramping is a non-issue. It is. The moment any of those fictional tokens are used for anything other than meaningless exchanges with other fictional tokens, they are worthless. For now they are only perpetuating their perceived self-worth. > It's like saying the stock market is worthless Stock market is almost entirely worthless. It's the same speculation not rooted in objective reality.
    - reginold 5y ago
      ah, nevermind. I had written a thoughtful reply to one of your other posts but it's clear the gap between us is bigger than can be solved in this medium.
      - dmitriid 5y ago
        > I had written a thoughtful reply Ah yes. The fictional thoughtful replies that are as rare as examples of projects where blockchains solve anything. > or the gap between us is bigger than can be solved in this medium. Or, perhaps, the reply wasn't as thoughtful as you thought it was. Or, perhaps, you could post it as a blogpost to narrow the gap. But nope.
        reginold 5y ago
        Oo you know what would be cool is if we could have an anonymous coffee chat/virtual meeting. That would be fun!
        dmitriid 5y ago
        If you (and other crypto peddlers) can't put your thoughts down in a coherent form that doesn't raise more questions than gives answers, no amount of talking will help.
- deleted 5y ago
  [deleted]

dmitriid 5y ago

Had anyone tried to convert those fictional tokens to actual usable money, you'd very quickly find out that the actual volume is about 0%.

Bayart 5y ago
Off-ramping is a non-issue. It's like saying the stock market is worthless because its value is predicated upon keeping capital tied into it. Really, you can extend the same reasoning to any market. It's fine being a nihilist, but not very realistic.
- dmitriid 5y ago
  > Off-ramping is a non-issue. It is. The moment any of those fictional tokens are used for anything other than meaningless exchanges with other fictional tokens, they are worthless. For now they are only perpetuating their perceived self-worth. > It's like saying the stock market is worthless Stock market is almost entirely worthless. It's the same speculation not rooted in objective reality.
  - reginold 5y ago
    ah, nevermind. I had written a thoughtful reply to one of your other posts but it's clear the gap between us is bigger than can be solved in this medium.
    - dmitriid 5y ago
      > I had written a thoughtful reply Ah yes. The fictional thoughtful replies that are as rare as examples of projects where blockchains solve anything. > or the gap between us is bigger than can be solved in this medium. Or, perhaps, the reply wasn't as thoughtful as you thought it was. Or, perhaps, you could post it as a blogpost to narrow the gap. But nope.
      - reginold 5y ago
        Oo you know what would be cool is if we could have an anonymous coffee chat/virtual meeting. That would be fun!
        dmitriid 5y ago
        If you (and other crypto peddlers) can't put your thoughts down in a coherent form that doesn't raise more questions than gives answers, no amount of talking will help.
deleted 5y ago
[deleted]