I think folks might be losing the script on why mainstream Crypto is bad (artificial scarcity creates an economic incentive to burn a bucket of coal in order to generate a new cryptographic key longer than the last) relative to why NFTs are bad (they're typically a side-effect of mining Etherium, unless they're tied to a less scarce alternative like Dogecoin or some other shitcoin, but are otherwise forms of speculative ficticious capital that mystify the economy).
NFTs don't have to generate any more carbon than an Imgur link. They only do so as a consequence of Etherium mining, which is what they were intended to incentivize originally.
Any kind of decentralized computing or blockchain project is vastly inefficient relative to a centralized one. "NFTs but good" would just be a generalized version of CS:GO Skin Trading - nothing actually novel about NFTs has any merit, even if the basic concept of trading digital stuff might not be entirely terrible.
Any kind of decentralized computing or blockchain project is vastly inefficient relative to a centralized one.
If you'd issuing your own images tied to your own currency, it isn't decentralized. And if the seed is small enough, the computation time for the next increment isn't very costly.
Of course, this defeats much of the purpose of what Crypto and NFTs are supposed to provide. But most people speculating on them doing know that. So it doesn't really matter.
China isn't anti crypto because they want to cyberbully the guys on twitter you dislike, they don't like it for regulation reasons and how much power was being abused to mine crypto in China,both of which are pretty legitimate issues. so while they might say Etherium what most NFTs are minted with, is shite, they're not against NFTs or something as a concept
NFTs are dumb at a conceptual level, and I slightly resent China for pursuing the technology. Is it going to have me in tears? No, at the end of the day it's a drop in the bucket compared to the massive, undeniable good China is doing. Do I think it was a bad move? Yes. I'm of course wise enough to be wary of doing a Western Leftist but I think this is clearly not a good thing to do.
I'm honestly more offended by a Chinese bureaucrat championing IP protections than minting NFTs.
I mean it makes sense to do so. It's important for getting people to trade with you - China has a bit of a bad name in this regard so it's understandable to take a proactive approach.
It's beneficial to control the IP process. Less so to be subjected to it.
But its cynical af to get people to buy into IP by handing out lottery tickets and telling you to defend the system cause some of you may be winners.
Exactly, that's the part I take issue with. It's a system to be tolerated, not welcomed.
Sure beats bored chimps or whatever, those pictures look gorgeous.
I think its a move to purge the novelty for young people who are on the hype train.
You don't need to come up with reasons why they are doing it, they are telling you why they are doing it in the article and it's not this.
No you're right, they are only promoting IP to kids on World IP day using a digital IP ledger as a 5D chess move to turn kids away from IP
Intellectual property organization does experiment with intellectual property enforcement techniques. Nothing to really say about this yet until it starts getting rolled out on a larger scale and used outside testing programs like this.
