Because talking about the subject of the thread is derailing the thread it seems, we don't talk about crypto
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Line Goes Up - The Problem with NFTs (Dan Olson)
- Thread starter theme park joe
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Ya, ETH Proof of Stake is always just around the corner. For years now.
It's never happening.
A lot of the points that he makes about blockchains are things that I've literally spent hours explaining to managers (part of my previous job as an IT architect). Blockchains don't actually solve any practical problem. From a purely theoretical standpoint they're quite technically interesting, but nobody needs a blockchain. Immutability is good, but most of the problems that you have with data quality and trustworthiness don't come from someone screwing with the database - they come from people just typing it in wrong in the first place.
Blockchains are pointless for 99.9999% of scenarios. Which is exactly why NFTs were invented - they exist solely to validate the existence of the blockchains they live on. It's all bullshit.
Blockchains are pointless for 99.9999% of scenarios. Which is exactly why NFTs were invented - they exist solely to validate the existence of the blockchains they live on. It's all bullshit.
Talking about crypto being bad and shouldn't be allowed on this site - in a thread about why crypto is bad = thread derail?
Come on maudes you can do better than that.
Come on maudes you can do better than that.
Amazing video. Best video made yet on the subject matter and its myriad pitfalls. All of this is a pyramid/ponzi scheme and in anthropological terms, can be boiled down to a civil war in kind between high status males who don't "make it" and higher status males who do "make it".
After recently watching all of münecat's vids on MLMs it's hard not to see how the rhetoric and just overall process behind Crypto evangelism and especially NFTs is just that, but way worse. Hell to MLM's credit at least they're actually selling a real product, shitty as they usually are. NFTs are just fucking nothing. Crypto seems like you can make some money if you buy and hold(though just buy a normal fucking index fund in that case), but even that's really questionable, and with so many cryptos coming out it's just a massive scheme at this point to sucker people with FOMO who were late on BTC or ETH or whatever to bank on some new one in hopes it blows up with whatever cure-all they're claiming sets them apart.
We don't talk about crypto, no, no, no
We don't talk about crypto
I don't think anyone is actually asking to ban the discussion of NFTs, even if those are the words they're using in their posts. They're just ultimately being inarticulate and reductive.
I think all we're really asking for is the clearance to bully cryptobros into submission and it's really the perfect answer here
I think all we're really asking for is the clearance to bully cryptobros into submission and it's really the perfect answer here
I'm down with the discussion of NFTs continuing as it is relevant / current news, but people who are shilling for them should be stopped in their tracks.
About a half hour into the video. Will probably watch it in chunks since it's damn long, but holy crap is it well crafted! just a precision takedown of the entire process so far, and starting back with the housing crash as a basis is brilliant in both its metaphor and its literalness.
What drives me up a fucking wall is the energy consumption. The whole process is built from the ground up to just waste energy for the sake of it. It's like this big dick-waving contest to solve equations that have zero value other than being solved to generate coins. It's so wildly stupid.
Also fun that some of the biggest proponents of bitcoin are mega rich bankers, IE, the people we're supposed to be fighting with deregulated money. It's wild.
What drives me up a fucking wall is the energy consumption. The whole process is built from the ground up to just waste energy for the sake of it. It's like this big dick-waving contest to solve equations that have zero value other than being solved to generate coins. It's so wildly stupid.
Also fun that some of the biggest proponents of bitcoin are mega rich bankers, IE, the people we're supposed to be fighting with deregulated money. It's wild.
I mean, that's the thing, right? Dan touches on it, but essentially the libertarian-right reaction to the 2008 crash was that they should be the ones on top, not Wall Street people. It's petit bourgeoise vs. bourgeoise, and the only winning move is to not play.
That's why I've always heard it described as Captain Planet levels of villainy. Cryptomining is just turning on the pollution machines for no tangible useful reason.
What an complete and utter takedown of the whole thing from all angles. Crypto is just indefensible at this point.
So many guest readers :D Hbomb was almost a given, but I was suprised when Mother's Basement showed up :D
This video is phenomenal. There are so many red flags to crypto but the privacy issues were incredibly surprising - given how it markets itself as being 'anonymous' and 'protected. A takeaway I got is that registering for a meta mask account is an incredibly dangerous proposition.
The whole summary is that crypto is made by egotistical programmers with no understanding of the real world and he brings receipt after receipt for 2 hours. Savage.
The whole summary is that crypto is made by egotistical programmers with no understanding of the real world and he brings receipt after receipt for 2 hours. Savage.
Really enjoyed this video, though it's a bit too long to easily watch it in one sitting. That's of course not a criticism, since the chapters give you very neat places where you can pause, and jump in later.
I had been familiar with the basics of the Bitcoin blockchain, and had already a pretty clear idea of what NFTs were going into this, and I still learned something new about it all and most of all I liked the clear parallels to the 2008 banking crisis that the video starts with. How on one hand you can see Bitcoin itself as a reaction to centralised banking failing, but where the people aren't interested in creating a better, fairer world. They just want to become those on top of it all, to become the boot, as Olson says so well. Everything else they claim about their technology, the supposed improvements it is to bring to society at large is simply bullshit. A commodification of everything isn't going to improve any social problems, and having pay huge transactions fees for the simplest actions isn't the way to improve anything about anything. It's all a grift.
I don't understand why Era moderation doesn't just chime in here briefly to say that they are against crypto shilling where it's clear it's just scamming people, and allow discussions about it otherwise. That's it, and you could probably argue that that's been your stand on this all along anyway. Instead opting to bully people with these silly looking "thread derail" warnings about a topic (NFTs being a scam, and Era shouldn't just let people scam other users) that's core to the video being discussed ("The Problem with NFTs").
I had been familiar with the basics of the Bitcoin blockchain, and had already a pretty clear idea of what NFTs were going into this, and I still learned something new about it all and most of all I liked the clear parallels to the 2008 banking crisis that the video starts with. How on one hand you can see Bitcoin itself as a reaction to centralised banking failing, but where the people aren't interested in creating a better, fairer world. They just want to become those on top of it all, to become the boot, as Olson says so well. Everything else they claim about their technology, the supposed improvements it is to bring to society at large is simply bullshit. A commodification of everything isn't going to improve any social problems, and having pay huge transactions fees for the simplest actions isn't the way to improve anything about anything. It's all a grift.
I don't understand why Era moderation doesn't just chime in here briefly to say that they are against crypto shilling where it's clear it's just scamming people, and allow discussions about it otherwise. That's it, and you could probably argue that that's been your stand on this all along anyway. Instead opting to bully people with these silly looking "thread derail" warnings about a topic (NFTs being a scam, and Era shouldn't just let people scam other users) that's core to the video being discussed ("The Problem with NFTs").
This video was amazing. I just sat through all of it in one sitting as it was just all so fascinating.
Shit is terrifying as hell.
Shit is terrifying as hell.
They chimed in. Era administration is fine with NFT talk and doesn't want to talk about banning it anymore.
from B-Dubs. Can't quote directly cause I got myself threadbaned in the Community Discussion thread said:
Also, this thread.
It won't get banned.
Finished the video, amazing and informative stuff. I knew enough about NFTs to know they're a scam but I didn't realise just how much of a scam the whole enterprise is, from the currency to the awful JPEGs
I mean, dunce hats all around for crypto bros after this. They'd probably even invest in Duncecoin
I mean, dunce hats all around for crypto bros after this. They'd probably even invest in Duncecoin
I invite the members of this prestigious forum to participate in an investment opportunity. Buy now these two NFTs before they become the new forum logo.
Nobody is talking about throwing "an entire community off the forum", just ban this scammy, environmentally destructive grift crap. The people can still stay so long as they don't shill for crypto.
You'd imagine a supposedly progressive-leaning forum like Era would understand the importance of not letting shit like this fly by, but apparently we're ok with scams of the ultimate order.
You'd imagine a supposedly progressive-leaning forum like Era would understand the importance of not letting shit like this fly by, but apparently we're ok with scams of the ultimate order.
I like how a central point of this video is that people make money on this essentially by generating hype in order to convince more suckers to buy in, but people who are clearly heavily bought in are using the same kind of techniques to obfuscate discussion.
It's like if a ton of Gaming Side thought they had the potential to make a ton of money if they defend their platform of choice.
It's like if a ton of Gaming Side thought they had the potential to make a ton of money if they defend their platform of choice.
This is a fantastic video. I was actually surprised to see how incredibly stupid and inefficient this Crypto/Blockchain garbage is, especially when so many cryptobros keep talking about how blockchain is the future of technology/software. How can people not see this crap for the obvious scam it is?
Thats the root purpose of most products in current day capitalism, the issue I have with all this is that the currency being talked about can only be used on terribly illegal purchases or traded by real money if someone is dumb enough to exchange it or malicious enough to keep exchanging it in order to keep the farse going…
The whole aspect about people doing this because they've put too much money in this scheme to let it die is the reason it keeps going and so many people got lured in I'm afraid ERA may be past the point of no return.
Being from a country where electricity rates are past the point people have to choose between having a meal or having the lights on without even being a mining outsource(yet) the prospect is terrifying.
When I see the crypto bros post here, it's like reading posts from cult members. They are fully indoctrinated and refuse to even accept the possibility that they are wrong. I'm not sure how many are true believers and how many are just desperately trying to come out on top of a broken system, but it's depressing either way.
History is littered with wreckage of countless people who threw themselves body and soul into pyramid schemes and greater fool scams.
All it takes as a combination of ignorance and desperation.
It's just that crypto is perhaps one of these most materially destructive scams ever created.
All it takes as a combination of ignorance and desperation.
It's just that crypto is perhaps one of these most materially destructive scams ever created.
A section of the video is devoted to how they enforce cult like mentality, how any questioning of anything crypto related is immediately dismissed as being a Luddite and not having faith. A section of the video is dedicated to an extremely ironic discord screenshot of someone saying "if this looks like a scam then every NFT room I'm in is a scam lol"
It's even worse than that too, he barely even touched on shit like crypto-colonialists and how they take advantage of, and benefit from actively destroying the environment by sucking countries in crisis dry and taking control of thier natural resources. In many instances they control and limit how people are allowed to spend thier crypto as well because it needs crypto donors (who don't live there) to vote on what it can be spent on.
Or how they are documenting peoples Identities on the blockchain to use as identification. Again, Cryptodonors have the power to vote and control what people are doing in these places because of how crypto works.
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This is the only crypto thread, probably in the history of the forum, that doesn't have the familiar set of crypto fans chiming in to support it every page. You can look at the other active threads and see them doing it, like in the thread about the current price crash.
I'd give credit to the video but I doubt they watched.
I'd give credit to the video but I doubt they watched.
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Isn't it nice? They don't want to actually engage with the topic beyond "TO THE MOON!"
The video pretty much tears down all of the 'positives' Crypto Bros claim, so they'd have to come up with some sort of argument against it , which they probably can't, either because they didnt watch the video or they just fdont have any comebacks .
"Do some research" doesn't apply to anything critical to their beliefs or acttions, unfortunately.
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"Do research" ok here's a two-hour, well-researched video with sources that links crypto and NFTs to the same finance bros that destroyed the economy in 2008.
I'm only 45 minutes in and I think this is up there with his flat earth video even if it lacks the incredibly interwoven narrative hook of the latter. Though I guess you could argue that NFTs being a vehicle to extract real world wealth and implant that into the crypto ecosystem to fuel its legitimacy is the interwoven narrative thread.
EDIT: I'd say the only drawback to this video is that you definitely need familiarity with the heaps of terminology used by crypto people that purposely obfuscate the (promises of the) way things work. Olsen does a great job giving flyby explanations but this is still going to be incomprehensible to people/marks who are still asking "what's an NFT" or "what's a bitcoin" in 2022.
EDIT: I'd say the only drawback to this video is that you definitely need familiarity with the heaps of terminology used by crypto people that purposely obfuscate the (promises of the) way things work. Olsen does a great job giving flyby explanations but this is still going to be incomprehensible to people/marks who are still asking "what's an NFT" or "what's a bitcoin" in 2022.
This is a fantastic video that thoroughly dismantles the sort of vapid meme- or FOMO-based crypto evangelism that tends to sprout up in most crypto discussions. It's great to see a philosophical explanation of *why* the crypto community is so hollow and unconcerned with the very obvious costs inflicted upon themselves and the rest of us. The point was never to actually improve the world or make something new and useful; it was always about placing themselves in positions of privilege within an arbitrary, harmful replacement for the existing arbitrary, harmful financial system. Except the replacement is actually somehow even worse by any practical measure.
I mean its telling how smooth this and the other crypto thread from last week involving the Signal engineer have gone. The funny thing is there's some decent discussions to be had; in one of the other posts I said that why do crypto over stocks and someone countered with the low barrier as opposed to daytrading which can lead to a discussion about how regular folks are locked out of hyper-capitalism (particularly when firms like Alphabet let one share rise to the thousands). It could be a good discussion on Capitalism and different systems of resource management. Problem is they don't hop in to discuss, its to soft peddle the snake oil, lol.
User warned: thread derail
I will echo other users here and say, ban crypto promotion in this forum, ban people peddling this scam here, ban the crypto OT.
Anyway, the video is excellent and I have been waiting for it for months now lol, but goddamn did it surpass my expectations!
Anyway, the video is excellent and I have been waiting for it for months now lol, but goddamn did it surpass my expectations!
User warned: thread derail
i think this is worth a conversation here.
Mods lock every thread attempting to discuss banning crypto as a topic so unless we want this thread to derail into that conversation and get locked (which would be very effective to silence the messaging of this great video and the discussin around it) we should probably stay away from that conversation.
Yeah, I noticed HBomb right away and some others. Will have to rewatch to see if notice Mother's Basement.
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