676234e117

7 ms·

1.
by 676234e117 4y ago
Dan Olson's tone and bias is grating. > Why is the art of NFTs just so dang ugly? -- The folks who are steering all of this, the guys who are in charge, or the guys who go out and make something like Bored Ape Yacht club, like they&
2.
by 676234e117 4y ago
Have you ever purchased art or collectibles? It does not entitle you to IP rights or transfer any IP rights to you. Loans and DeFi - see Uniswap issuing ERC721 Liquidity Pool tokens. User accounts - exact same mechanism as ENS, but differen
3.
by 676234e117 4y ago
> How EXACTLY does NFT "hold custody" of anything not living fully on on the blockchain already? I am not suggesting it does. I am suggesting it allows you to hold ownership of an asset on the blockchain. At this point it means
4.
by 676234e117 4y ago
With a NFT of a GIF, you don't need to pay to see the content. People are not buying these tokens to see the content, because it is free for everybody to see. What Pearson is suggesting is a different model: that you have to buy the NF
5.
by 676234e117 4y ago
Sales volume has plunged from its early hype, but daily trades and activity remains higher than ever. In some corners of the market sales and royalties are still generating significant revenue for many artists, where prior to NFTs they did
6.
by 676234e117 4y ago
If you are asking "how does NFT hold custody" of a digital record then I assume you have never looked at how NFTs work at a technical level. If you know code, you can look at the ERC721 spec yourself. A practical example of an app
7.
by 676234e117 4y ago
I am a NFT proponent and this idea seems very broken. The royalty model is working fine in NFT art world because people are not paying to see the GIF or PNG, it is already free to download it in high resolution. Anybody can right click and
8.
by 676234e117 4y ago
Nothing stops tech companies from building crypto wallets or services that hold custody over users funds, a lot of them are already doing that. Building a new blockchain where they fully control the network and its features is harder.
9.
by 676234e117 4y ago
- ERC20 stablecoins are not a paper IOU but ok. - all these protocols are beta software, less than a few years old. Uniswap as one of the oldest is probably also the most secure. - NFT: ability to hold custody over a digital record without
10.
by 676234e117 4y ago
It appears this is mostly targeting specific hot wallet software that may have some compromised downstream signing library, since the wallets are closed source it is difficult for the community to get to the root of the problem. Storing val
11.
by 676234e117 4y ago
In the current electronic fiat system, a few companies control both the gates and the network. Crypto at the moment decentralizes the control of the network, which is already a step forward. Crypto can also be used to decentralize control o
12.
by 676234e117 4y ago
Facebook already tried this, it was called Libra.
13.
by 676234e117 4y ago
> Every time the merge is delayed, price drops You are conflating "people losing tokens" with "people losing the USD value of their tokens." It is very likely that the market becomes unpredictable before and after the
14.
by 676234e117 4y ago
It may never meet the impact of the web but held to that standard, maybe no technology ever will. The killer application is Ethereum and the ideas it has spawned, including new global financial instruments like stablecoins, decentralized ex
15.
by 676234e117 4y ago
By “loss” do you mean that of the exploiters losing tokens because the community decided not to follow the hacked chain? The goal of all the shadow forks and merge testnets is to find the different edge cases and failure states to answer th
16.
by 676234e117 4y ago
If you want more details you can always read the Gasper paper[1], the spec[2], or client code. It is complex to somebody not familiar with consensus and blockchain execution, but you might say that about any modern engineering. PoW is undou
17.
by 676234e117 4y ago
I agree with your point that PoS is more complex and has a wider attack net than PoW, but I don’t agree that users will not be able to coordinate on a new fork in case of a protocol failure. The worst that may happen is that another hard fo
18.
by 676234e117 4y ago
Maybe it is just 1 recipient. Which I think is still a fine display of the value of a decentralized payment option.
19.
by 676234e117 4y ago
The article is not really presenting any strong arguments aside from literal hand waving the "<complexity>". The same hand waves could be made for PoW. See the last time it made discussion[1]. The article suggests that two c
20.
by 676234e117 4y ago
If you look beyond the most vocal proponents you will see a range of opinions. I do think it will, over the next 10-20 years, completely revolutionize how we think about digital assets and digital currency. For the average user it might not
21.
by 676234e117 4y ago
What you are describing is a protocol-level bug, rather than smart contract bug. The merge has already occurred successfully a number of times on test networks, so it seems unlikely at this point. But if a catastrophic failure were to occur
22.
by 676234e117 4y ago
This might be surprising, but not every crypto user is a pure libertarian, or believes that code is law. A significant amount of funds extracted from this exploit were from whitehat hackers who took the funds and plan to return them, to avo
23.
by 676234e117 4y ago
Interesting analogy. Is this exploit a Hindenburg or a steam train wreck? It is probably both. The model of allowing governance updates from a contract owner on a bridge or rollup is not sustainable and will have to change to mitigate these
24.
by 676234e117 4y ago
It is important that users come to better understand the different risk profiles between: 1. Owning ETH with a non-custodial wallet. 2. Owning ETH on a CEX. 3. Depositing ETH into a smart contract to receive a wrapped asset. This includes r
25.
by 676234e117 4y ago
It is important that users come to better understand the different risk profiles between: 1. Owning ETH with a non-custodial wallet. 2. Owning ETH on a CEX. 3. Depositing ETH into a smart contract to receive a wrapped asset. This includes r
26.
by 676234e117 4y ago
The article hints at some of these at the end of the article, but here's a few things maybe: - the option for non-custodial and semi-custodial ownership of things like digital assets, from currency to domain names to other types of onl