Token Daily

I usually agree with a lot of what Dan Held says, but after watching his debate on bitcoin Vs alts with Eric Voorhes, Dan failed to justify his opinion sufficiently in my eyes. At the end of the day opening the innovativation door and immediately shutting it behind yourself is not very fair or smart. There is more to come in this space that Bitcoin set the scene and paved the way for.

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Eislemike Yesterday

Lyn Aldens was way better. I can’t believe he skipped over POW vs POS. It’s the most important difference. POS has Nothing at stake essentially becoming another version of fiat where wealth is created out of thin air, wealth is never distributed well, energy is, pow has unforgeable costliness, pow provides a base price with a cartel to defend it, pow tells time on its own, pow is useless if forked because you can’t copy paste the miners, pow incentivized nation state level industrial buy in, listen to some Saylor on What is money or Bitcoin Audible and Tales From the Crypt have many episodes describing the need for pow for a sov and monetary base, Antonopoulos covers it too. Pos is great for a utility coin. Probably better. No need to waste as much energy just for an NFT or some such. Imo they are very different and we have yet to see if Eth can find a permanent fit but I wouldn’t bet against it, just don’t bet on it to replace Bitcoin.

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natufian Silver | QC: CC 102, DOGE 38 | IOTA 112 | TraderSu 1 day ago

Thanks, OP, stimulating read!

A couple highlights and things I agree/disagree with:

Bitcoin is distinctly different than all the other blockchains because it has had a persistent narrative since day one: Gold 2.0/SoV

Many DLTs have a persistent narrative, and as the chart points out the Gold 2.0/SoV one wasn't the dominate narrative in the early days of BTC (although it was always pervasive).

The Ethereum community has endorsed radical changes/pivots, trying to find narrative fit

2 things.

the narrative of the personal computer (for instance) will necessarily be more storied than the narrative of say, A wall safe. There's no particular need to read into this. The more versatile instrument will have more narratives. In part because each use-case has it's own story, but also...
"the ethereum community endorsing radical pivots" is actually Ethereum attracting and creating and growing many unique new communities.

Ethereum is an aggregator of these narratives, trying each one out over the years in an attempt to seduce Bitcoin and other believers.

???. The lady doth protest too much, methinks

(Later talking about EIPs)

These constant changes leave Ethereum open to exploits and attacks. As evidenced recently by the near constant stream of DeFi thefts, and weakened decentralization.

IMHO, Eth decentralization remains a real pain-point. But is the author citing real exploits enabled by Eth protocol changes? Or is he causally relating the hacks of poorly audited food coins with protocol level Eth changes? Genuinely asking. I suspect the later, but welcome corrections.

"The [Ethereum] annual issuance rate with all those annotations kind of looks like it was drawn by a Bitcoiner making fun of Ethereum"

Lyn Aldeen is a fucking national treasure!

With Ethereum, they’ve embraced a constantly changing monetary policy. In effect, they’ve replaced suits (central bankers) with devs. This is no different than existing fiat money where we have to trust in a group of individuals not to change the monetary policy.

IMHO this idea carries the entire piece. Of course there are caveats (Eth monetary changes do require community consensus / governance, etc). But at the end of the day the stability and reliable monetary policy is what makes bitcoin Bitcoin.

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Ruzhyo04 Patiently Waiting 1 day ago

Dan Held is a biased Bitcoin maximalist, and I wouldn't take his opinion on Ethereum any more than than I'd take Fox News' opinion on climate change.

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machinecraig 1 day ago

That was an interesting read, thanks for posting it! I like them both, there are trade offs for each and I think that's OK! Ethereum is emerging as such a versatile platform, but at the same time Bitcoin as the oldest and most battle-tested crypto has tremendous value. Don't make me choose! 🙂

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Jimbley_Neutralon 2 days ago

The Ethereum community has chosen to embrace features of centralization such as having Vitalik remain as the leader of Ethereum, and increasing the difficulty of running a full node.

With Ethereum, the community has embraced accelerating costs of running nodes, which pushes developers and users to be increasingly reliant on trusted 3rd party node operates such as Infura.

"The [Ethereum] annual issuance rate with all those annotations kind of looks like it was drawn by a Bitcoiner making fun of Ethereum, but instead that's from an Ethereum source. Various Ethereum Improvement Proposals or 'EIPs' by developers have changed its monetary policy over time as needed for various reasons." How can we trust that Ethereum's monetary policy won't change again? How can we be sure that it won't be a detrimental change? Even if the Ethereum community agrees it will never change, and it honors that, it will perpetually be 12 years behind the trust that has been built with Bitcoin.

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Vibr8gKiwi 10 hs ago

Long read but critically important. If you can understand that you'll understand what Michael Saylor has been talking about in interview after interview. I'll try to sum it up in a TLDR for my own benefit.

TL;DR: Argues were entering a rising rate environment. Ranks assets for a rising rate environment, bitcoin comes out on top. If interest rates rise then stocks, bonds, and real estate are screwed. Argues trillions in the bond market will flow into Bitcoin. Also suggests going long interest rate volatility, though how to do that is trickier.

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Eislemike Yesterday

Also how would someone who is just a noob play the tightening side of the curve? He says interest rate swaptions but even after reading about them I don’t understand them. Is retail essentially just fucked with no realistic hedge for if the fed raises rates?

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Andyham Tin Yesterday

Thanks, very interesting to read, even though I only understood half of it.

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PumpkinSpice2Nice Yesterday

That article is too long. So what is the scam? What is he asking people to do?

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dect60 Yesterday

The article is basically a very wordy version of self-fellatio.

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Eislemike Yesterday

Does he not believe in the possibility of a UBI? He completely ignores that that prevents an uprising in a low rate high inflation environment for quite a while. It’s a third option he doesn’t even mention. And since the other two are hyperinflation leading to regime change/world war Or economic apocalypse, it’s seems a fairly likely option to me.

Especially since with that option politicians and bureaucrats get to kick the problem down the road a decade or so to the next generation. That’s always the option they choose. Less immediate pain & pass the problem down the road.

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RonDamon44 Yesterday

> Does he not believe in the possibility of a UBI? UBI as it is proposed right now is illusory at most, for starters in plenty of countries the amount is so low that it is barely enough to pay either taxes or food, not both, furthermore, as long as the money masters control the economy, an UBI will always remain but an illusion, in an hyper-inflation scenario you can receive an UBI worth millions and it will still be worth nothing.

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AdRemote8967 Redditor for 3 months. Yesterday

Nice post cheers

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Devils_doohickey Redditor for 1 months. Yesterday

TLDR. Build a portfolio of long crypto plus long interest rate volatility. Walk away and watch the fireworks.

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khwr3v Yesterday

How does one invest in long interest rate volatility?

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deadfootskin Yesterday

This guy is the biggest crypto scammer since Paolo. Fuck him

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coinfeeds-bot 1 day ago

tldr; Arthur Hayes, a former bodybuilder, has created a portfolio comprised of beta to participate in the upside, and volatility hedges that compensate and eclipse losses on the downside. The strategy is the simple output of Nassim Nicholas Taleb’s musings about anti-fragility and engineering a life that exhibits positive convexity, he writes. "In 2021, inflation is coming. Everybody knows, that everybody knows," he adds.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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Set1Less warning, I am a moron 1 day ago

Meanwhile most buttoshies are either massively in the red or tiny ass gains compared to what crypto has done in the last few months alone. If we go back a decade, buttoshis will be long on a rope and noose.

Yet the circlejerk here has to go on lmao

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Printer-Pam 1 day ago

Why all these people always say to long Bitcoin after it did 15x in a year?

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Galatians_416 Yesterday

cuz they want it to keep going higher, it's pure greed

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unski_ukuli 1 day ago

Ugh... I just lost 90% of my brain cells.

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Conscious_Note4192 1 day ago

"How I convinced idiots wanting a quick and easy way to get buffed to buy overpriced supplements an roids back at the gym, but now is overpriced make belief currency and idiots wanting to get rich quick and easy on the internet. I even use the same buzz words."

-Adult posting 4chan incel memes wanting to be taken seriously.

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understanding_pear 1 day ago

Weird that this article is apparently garbage, but no one can point out a factual error? This sub used to have people that were proficient in the relevant fields.

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dect60 1 day ago

https://old.reddit.com/r/Buttcoin/comments/lxzju6/prolific_buttcoin_scammer_spreads_financial/gpqjqmo/

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Bed-Chance 1 day ago

That post thinks derivatives traders always remember second and third order greeks like it's riding a fucking bicycle. Which isn't even a factual error, just an impotent dig at Arthur.

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GeorgeS6969 1 day ago

Lol what do you mean? They’re literally the partial derivatives of one of the most fundamental equations of modern finance with what? Three fucking variables? Any math grads would basically learn them once and remember them always. Sure years down the line they might need a quick wikipedia browse to remember which is which, but nothing that would justify hammering the point like it’s some kind of arcane knowledge inaccessible to unitiated mere mortals - let alone an actual fucking derivatives trader. Edit for those with the slightest maths background who might feel like ‘volga’ and other finance linguo bs sounds like some crazy ass shit that people in finance really spend decades to trully understand: You have an option, that gives you the right to buy (a call option) or sell (a put option) something (the underlying, say a stock) at a set price (the strike) at a set date (the maturity). In the simplest case, for an option that can only be exercised at maturity (European style) and with no dividends, you can tell that for a call option, at maturity, you would make in profit the difference between the price of the underlying stock and the strike, or zero: if the underlying price is above the strike, you buy at strike and sell imediatelly on the market, if not you don’t do anything. And reciprocally for a put option. Due to this convexity (literally, your payoff function is convex) that option (but not obligation) to buy or sell has a value (premium). You can tell intuitivelly that this value (*V*) directly depends on: 1. The current price of the underlying (for a call, if it’s already above the strike, you have a higher chance to bank at maturity) - *S* 2. The volatility (read, roughly, “variance”) of the stock (very roughly if the current price is bellow strike, high volatility means higher chance that it would end up above strike at maturity - it also helps to see options as an insurance contract, if you have a high chance of getting into accidents, your premium increases) - *nu* 3. Time to maturity (if the underlying is bellow strike and the option expires tomorrow, most likely it’ll be worthless) - *tau* 4. And maybe less interestingly, risk free rate of return (the higher it is, the higher return on any money you put down you would expect, it’s called discounting and that’s how you valuate basically any liquid asset, so trivial any intro text book in any finance related field covers it in their first chapter) - *r* So that’s it, some dudes which initials actually spell BS made a bunch of assumptions and put those intuitions into a reasonably solid equation. The greeks (not always real greek letters because finance bros score higher points for style) are just partial derivatives of that equation: delta is dV/dS, vega is dV/dnu, theta is dV/dtau. Then do some combinatronix with those three and get vanna, veta etc. That’s cool because there’s a lot of cases where traders might want to replicate the payoff of options by using only the underlying. But because the underlying doesn’t have that convexity, the best they can do is approximate locally and rebalance regularly. That is, buy or sell a bunch of the underlying regularly everytime the price moves. Think taylor expansion that makes money. So understanding how much they should expect to buy or sell for say a set price move is important. That’s it, you understand option valuation.

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Bed-Chance Yesterday

>Sure years down the line they might need a quick wikipedia browse to remember which is which - >Then do some combinatronix with those three and get vanna, veta etc. I enjoyed watching you demo your mastery of the first order greeks while you proved the exact point I was making.

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GeorgeS6969 Yesterday

> Sure years down the line they might need a quick wikipedia browse to remember which is which, but nothing that would justify hammering the point like it’s some kind of arcane knowledge inaccessible to unitiated mere mortals - let alone an actual fucking derivatives trader. That’s my full quote. That’s not my mastery that’s your ignorance: differentiating twice is not harder than diffetentiating once - unless of course you’re a finance bro who learned equations by heart from the Hull.

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elijahhenry113 1 day ago

Lotta words in this one, lot o' words

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b1daly 1 day ago

Who does this joker think he is? He’s an internationally wanted fugitive and he’s LARPing as a financial guru🙄

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Purplekeyboard 1 day ago

What the hell is this shit? I got through the first few paragraphs and saw convexity, vanna, volga, and vega, and stopped reading.

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dect60 1 day ago

Those are option greeks, google them. But the way he's using them is rather odd. For one, since his bio claims that he was a derivatives trader for two major banks, it is rather strange that he needs to google to learn about volga/vanna. > "Vanna and volga were the terms I recently googled after I got home from our latest meeting." This is like a former carpenter having to google to learn which side of the hammer to hold and which side to whack the nail with. https://www.100x.group/#founding-team > Arthur Hayes is Co-Founder of 100x Group and its flagship BitMEX platform. He steered 100x to become a leading disruptor in the world of finance. Arthur was previously an equity derivatives trader with Deutsche Bank and Citibank. Second, the way he uses these terms, including convexity remind me of the way that Chopra uses quantum physics terms to suit his own purposes - while obviously not really understanding anything about quantum physics nor it being applicable to what he is shoehorning it into.

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Bed-Chance 1 day ago

> This is like a former carpenter having to google to learn which side of the hammer to hold and which side to whack the nail with. Besides maybe gamma I wouldn't expect people to always remember second or third order greeks. Weird how my hedge fund friends enjoy his writing. It's almost like...

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dect60 Yesterday

> Weird how my hedge fund friends enjoy his writing Don't worry, with time you'll get through puberty and most likely grow out of imaginary friends.

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humberriverdam 1 day ago

Read the [Vanity Fair article](https://www.vanityfair.com/news/2021/02/the-rise-and-fall-of-bitcoin-billionaire-arthur-hayes) instead, it gives you an overview of who this guy is and isn't written in such a... douchey... manner. My thought is from his writing style that hubris and pride is a big reason why he's facing felony counts and not just a sizable fine. But he's also not facing any of the other charges which you'd expect in this situation, which is Real Weird. He sounds like a bit of a jackass but the feds might find they've overreached here

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isaiahpcruz Yesterday

Plenty of Americans have traded crypto with a VPN and without KYC on Bittrex, Poloniex, Binance, Kucoin, Bitfinex, Bithumb, Okex, etc. Why did they charge Arthur but not these other exchange operators that did the same thing? Seems racist

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DrBeerMan2 Yesterday

Because he flaunted it.

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isaiahpcruz Yesterday

Flaunting is more common in the black/hip-hop culture. You're telling me they targeted him because of his black personality? Seems racist

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DrBeerMan2 Yesterday

That's quite the dog whistle you've got there.

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Bed-Chance 1 day ago

Feds attempt to take down successful black man on questionable charges. More news at 11.

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HopeFox 1 day ago

I'm not sure who this guy is, but I'm sure he did nothing wrong, and all this is good for Bitcoin.

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AmericanScream 2 days ago

The writing is as good as the illustrations.

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StandardRespond6408 2 days ago

So much word salad! Does anyone read through entire articles like this or do they just skim and think "he's smart" and hand over their money??

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supreme_leader420 Yesterday

Right. It’s almost enough to just spew Greek letters without no context at this point. Why explain something when you can just reference it, then I have no chance of being wrong and I have less work to do. It just obfuscates the meaning behind everything to assign a Greek letter for everything, no matter how obscure, instead of directly treating it as the derivative of such and such. But then we’d have fewer buzzwords and would actually have to confront reality!

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kers2000 warning, I am a moron 1 day ago

He is smart. Look at his background. And he built one of the few exchanges that never got hacked. His only crime is knowing that US residents were using his service and not doing anything about it (until it was too late). He is probably gonna cut a deal with the US government, pay his dues, and become a regular on CNBC when he is not hanging out with supermodels on his yacht while you guys keep seething and fuming over your own incompetence.

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[deleted] 1 day ago

[removed]

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kers2000 warning, I am a moron 1 day ago

And you, my friend, are a gentleman and a scholar! A perfect reflection of the intellect of this sub.

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devliegende 1 day ago

You paid for the yacht.

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DrBeerMan2 Yesterday

Boom. Roasted.

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kers2000 warning, I am a moron 1 day ago

I am a market maker. I don't pay any fees. The opposite in fact: I get paid a0.025% rebate on every trade and I am almost always on the right side of funding 3 times a day.

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devliegende Yesterday

What do think of those who pay for the yacht?

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Fight4Ever 6 hs ago

Do you think the other, non-crypto world, yachts were free? You don't get yacht money without someone getting stuck with the bill somewhere.

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devliegende 5 hs ago

There is no objection as long as the person with the yacht and the person with the bill is the same person. If not, the person with the yacht face losing his freedom as well as the yacht.

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Fight4Ever 5 hs ago

That's not how money works and I think you know that.

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devliegende 4 hs ago

In an ideal trade both parties gain more than they give up. eg. To paraphrase Adam Smith, when the butcher and the baker exchanges meat and bread, both gain something that is expensive in exchange for something that is inexpensive for them.

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Fight4Ever 4 hs ago

Except ideal trades do not provide either party with yacht money. For the baker or butcher to create that much surplus wealth then it is likely at the expense of the farmer and milliner. The question was > What do think of those who pay for the yacht? Someone, somewhere, has to be on the short end of a trade for long end to exist.

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kers2000 warning, I am a moron Yesterday

Same thing you think of those who pay for Bezos yacht and fleet of private jet. Those users believe they get value in return for paying transaction fees. Otherwise, they wouldn't be trading there. Business 101.

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devliegende Yesterday

Yet we know they don't?

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o7___o7 Yesterday

lol ok buddy

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mookmerkin 2 days ago

At least as a former bodybuilder, he'll be right at home in the weight room in prison.

^(I before E except after.... W!)

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DropkickSteve Yesterday

HAHAHAHAHA this is the comedy gold I come here for

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Nahbjuwet363 1 day ago

I am wanting to make very inappropriate jokes about inflation

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rBitcoinMod Yesterday

Your submission has been flagged for removal because it is considered off topic for the Bitcoin subreddit.

^^I ^^am ^^a ^^bot ^^and ^^cannot ^^respond. ^^Please ^^contact ^^r/Bitcoin ^^moderators ^^directly ^^via ^^mod ^^mail ^^if ^^you ^^have ^^questions.

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unfuckingstoppable redditor for 1 week Yesterday

no, they're just trying to pump doge for a quick buck

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tastetherainbow_ Yesterday

specifically, Mark Cuban.

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AntiSharkSpray :gd-1: Gran Destino Yesterday

That thumbnail is the stuff of nightmares

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Xclusivsmoment Heat Yesterday

I'm so confused about Top Shot, like should I be using it or nah?

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sus_gangster_ceo Raptors Yesterday

Can you afford it?

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Xclusivsmoment Heat Yesterday

How much do i need ? Like fr serious question

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sus_gangster_ceo Raptors Yesterday

[Just to give you an idea](https://www.nbatopshot.com/search?byPlayers=2544)

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Xclusivsmoment Heat 17 hs ago

Is it worth it? Is there money to be made?

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pengtingsonmywhatsap 14 hs ago

Like all investments it’s a leap of faith. In my opinion the worst investments are made literally to only make money. 9/10 You have to believe in or like the product/stock in some capacity for it to be good. The people who made the most money on crypto really believe crypto will be the currency of the future. Or enjoy art so are willing to just have the painting hanging on their wall, in a gallery and not buried in storage waiting for it to rise in value. When you go in it to make money you’re much more likely to only make a small profit because you see a gain or lose money as you sell as soon as it looks bad. If you really think after research digital cards will be something people want then you should. Right now the only reason it’s exploding is because people think it’ll be worth money, but the people who will really enjoy it will be the winners. I think the next step is where players can electronically sign these moments. So you can have ‘autographed’ digital moments.

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sdhydro :lal-1: Lakers Yesterday

JUST RICH BILLIONAIRES MAKING UP A PRODUCT TO MAKE MONEY

TOPSHOT IS FUCKING STUPID but i understand thats how we are heading , the digital age

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hiphopfrank Yesterday

Maybe the new nba blockchain can finally fix the ratings issue.

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emmaleegee Yesterday

Rad

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applesauce4president Knicks Yesterday

Fuck joe Tsai

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watchmewhip23 Yesterday

Relevant portion of the article regarding the scope of the committee:

The move comes amid the exploding popularity of NBA Top Shot, digital collectibles that are being sold by league licensing partner Dapper Labs on its Flow blockchain. More than 200,000 people entered a recent Top Shot release, and the resale marketplace has seen more than $300 million in sales.

“It has very little to do with Top Shot,” Cuban said in an email. “It’s about blockchain applications, of which Flow is just one option.”

Some NBA teams are already accepting cryptocurrencies in their arenas, and blockchain-driven businesses in gaming, sports betting and digital art—all areas of interest for the league—are beginning to reach a more mainstream audience.

In addition, the NBA’s younger, tech-savvy fans overlap heavily with the social media movement that is driving interest in alternate forms of investing and blockchain-enabled transactions. That’s true for its players as well—Andre Iguodala, Aaron Gordon and JaVale McGee are all Dapper Labs investors; as is Spencer Dinwiddie, an avid crypto-enthusiast who tried to tokenize his NBA contract in 2019. It’s unclear if a Top Shot equivalent for MLB or even the NFL would have had the same instant cultural impact.

Less public-facing, blockchain could also be used for myriad backend purposes, from data sharing, storage and security, to contracts and ticketing—any area in which it’s helpful to have a complete, digital ledger of ownership and transactions.

I never realized that the there are active NBA players invested in the company behind TopShot.

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watchmewhip23 Yesterday

List of team Governors involved.

Mark Cuban (Mavericks)
Joe Tsai (Nets)
Ted Lenosis (Wizards)
Steve Pagliuca (Celtics)
Vivek Ranadive (Kings)
Ryan Smith (Jazz)

Not surprisingly all of these members of the committee have either a tech or finance background. Cuban and Ranadive had been publically supportive of broader blockchain applications in the past. The Kings were the first team to accept Bitcoin back in 2014.

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SilverShelloton Yesterday

Is anyone else confused as to why Topshot is worth so much?

I think there was a LeBron play that was purchased for $200k, can't you just get it off of YouTube?

I can understand why stocks, currencies, cryptocurrencies, OG player trading cards, and cards like pokemon can increase and decrease in value. I don't get how a virtual card containing a "highlight" accessible for free on media sites, garners any real monetary value.

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LakersRsoSickHuh Yesterday

Because it’s a scam

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WavyKirk :det-1: Pistons Yesterday

Money laundering. It’s like art.

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virgilabloke 23 Yesterday

Well some investors could’ve bought the 200k play to demonstrate the value of it. Marketing technique. Personally I can’t understand it as it lacks intrinsic value. Some probably think they have resell value because of the publicity, hype around it and consider it a good investment. Anyway, it’s not for everyone. If it makes people happy and they can afford the worst scenario, why not?

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fuckatyoutwo Yesterday

The value of all those things you listed, including Topshot, is based on what people are willing to pay for them. As we all saw with Gamestop, the price of an asset can easily be disconnected whatever you want to ascribe as it's inherent value. A physical trading card for example is just some company issuing a Thing that enough people want to buy, making it worthwhile for people to sell. If the Thing was a promisary note for the card, or an IOU, or a QR code, it would not be functionally different.

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ItsLittyLitLit [BOS] Marcus Smart Yesterday

Because we put value into them. Also, you can show off your highlights in a sideshow which is cool Edit: ⬆️ Caught myself putting value into it. Why do/should I care about being able to display highlights to other people? 🤷‍♂️

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watchmewhip23 Yesterday

I’m sure that there are more knowledgeable people on this subreddit regarding TopShot. I have similar questions, however the best argument I have heard for it is that the utilization of the blockchain automatically authenticates the item in question. In traditional card trading, when buying online you run the risk of a card not being in a marketed condition or counterfeit. The Non-Fungible Tokens (NFTs) used to represent a highlight in the blockchain acts as an authentication method. The question really is down is this a fad like POGS or Beanie Babies, or if these NFT are a legitimate store of value that is stable.

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rSlashNbaAccount Yesterday

> Is anyone else confused as to why Topshot is worth so much? https://en.wikipedia.org/wiki/Greater_fool_theory

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lordexorr :bos-1: Celtics Yesterday

You can get pictures of players all over the internet too so why would player trading cards make sense while not this? I think it’s weird and wouldn’t collect it but I don’t see it as any different than trading cards.

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WesternBookOfTheDead Yesterday

That’s physical vs digital though.

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uber_troll :gsw-2: Warriors Yesterday

Would you rather have Bitcoin or a block of gold?

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Rager_YMN_6 Lakers Yesterday

Not analogous

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uber_troll :gsw-2: Warriors 17 hs ago

Substantiate your claim

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gerardmpatience Pacers Yesterday

Nuh uh

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gustriandos [PHI] Eric Snow Yesterday

There is truly nothing too dumb for people to spend money on if you can prove you own it

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echOSC Yesterday

Nothing new, entire industries use some sort of fake limited supply to get people to open their wallets. Sneakers, cars, clothes, watches, etc etc. Always was, always will be. Amuses me when they get all indignant when people resell the limited thing for profit.

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VolcanicJays :bos-3: Celtics Yesterday

I guess the main argument for why it holds value is the same reason that cards like basketball or Pokémon holds value. They’re cool and people will want to collect them.

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RF_Sunter Yesterday

The difference is that those are physical items that eventually stop being produced. The fact that they at some point become limited and you can hold them is why Charizard goes for tens of thousands of dollars. These highlights don't go out of print, you can watch them anytime on YouTube.

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Spike_der_Spiegel [TOR] Kyle Lowry Yesterday

because it's 2021, we've digitized the aura of authenticity, eat Benjamin

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VolcanicJays :bos-3: Celtics Yesterday

No one really buys the cards for the picture, otherwise you could argue that physical cards don’t have value since you can look up pictures of Lebron or Luka as a rookie anytime. The moments are also limited to a certain amount and no more are produced after that amount has been produced. And personally, I’d much rather have digital cards than physical ones. Digital ones don’t get old or worn down, they’re easily transportable, and if need be it’s quick and easy to sell them on the marketplace. Obviously it’s not gonna appeal to everyone and that’s fine, but they definitely have value as the only legitimate way to essentially own digital NBA basketball cards.

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watchmewhip23 Yesterday

The biggest pro for digital trading is there is no risk of counterfeit or poor-condition “cards”. The The tokens (or whatever) on the blockchain acts as authentication, and removes some of the friction involved in the transaction.

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gustriandos [PHI] Eric Snow Yesterday

I think its just that you can prove you have the "real" thing. Like you could print your own card if you wanted and it looks and feels the same but its knowing you have the real thing that's valuable. Ownership of a digital card is definitely a little more convoluted and weird to someone like me but people that are into tech and blockchain stuff probably dont see a difference

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DogeCoinGeneral Yesterday

Adopting dogecoin ( Corporate America ) This Is The Way 😤

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ak44m flaming shibe Yesterday

Dope

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Altruistic_Bullfrog9 Redditor for 3 months. 16 hs ago

This past year has been full of libertarian anarchist movements all over the world. Society is still functioning. What is he talking about?

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ThatOtherGuy254 Platinum | QC: CC 121, BTC 18 | TraderSubs 18 17 hs ago

What he means is that Bitcoin is a threat to his pocketbook.

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NeonRetroTech Yesterday

First they ignore you. Then they laugh at you. Then they fight you. Then they join you. Then you win!

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Pedra87 Yesterday

Tim Bond shoul worry about crimes done by banks and with fiat... All these crimes we re happeing before bitcoin.

Tim bond should invest in bitcoin because we are going to hit 100k this year

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Whiteknightsassemble Yesterday

The names Bond. ~~fucktard~~ Tim Bond.

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turkeysad Yesterday

Lmao digital currency going to break down society

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dr_rainbow Yesterday

It's funny how all these fund managers suddenly care about the environment so much. Do they fly their private jets to the weekly Greenpeace meeting?

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fatherintime Yesterday

I mean, good. Displace currencies. Encourage defi. Don’t threaten me with a good time.

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mirza1h Yesterday

Ok, boomer

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maolyx Yesterday

Maybe he is upset cos it threatens his job + he missed the dips.

' believes bitcoin could prevent society from functioning in an efficient and ethical manner '
- but society isn't exactly efficient and ethical now?

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NorthNode22 1 - 2 years account age. 100 - 200 comment karma. Yesterday

I feel he sees crypto as a threat to his job so he jumped on the biggest FUD train I've ever seen. People often act irrationally when their employment is threatened.

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gazorpadorp Yesterday

fwiw, BTC does actually consume a shitton of energy and produces a shitton of e-waste. It’s slow and inefficient when compared to classic payment methods, and extremely volatile when compared to classic value stores. The “distributed” concept is also just a fad since just a happy few control most of the BTC wealth.

I love cryptocoins, but there are better options out there.

That being said, you have to appreciate the irony of a hedge fund manager to call out others about ethics.

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damageinc86 Yesterday

I'm just glad that btc and other cryptos don't protect me by letting me overdraft my wallet and then charge me for it once it happens. That's kind of cool.

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iNstein Tin Yesterday

Actually most of the power is spare off-peak unused power from Chinese dams so not only is it green but it enables the green power to be viable. Also if you look into how much banks and fiat use, it dwarfs this.

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James-VZ Yesterday

Tim Bond, partner and portfolio manager at Odey Asset Management, believes bitcoin could prevent society from functioning in an efficient and ethical manner

What was stopping it before?

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damageinc86 Yesterday

I wasn't even aware it was functioning in such a manner to begin with .

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Whiteknightsassemble Yesterday

70+ million Americans voted for a racist, sexist, xenophobic, narcisist, compulsive liar. China imposes itself all iver Hong Kong and stands ready to fuck with Taiwan. Myanmar doing what it does best. Millions still suffering from poverty and starvation worlwide. THIS GUY MAY NEED TO GET OUT MORE.

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damageinc86 Yesterday

You may need to brush up on your reading comprehension.

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Whiteknightsassemble Yesterday

You may need to expand yours. I was talking about Tim Bond. Not you.

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damageinc86 17 hs ago

A ha. Reply misunderstanding at its finest.

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captainramrod 7 - 8 years account age. 200 - 400 comment karma. Yesterday

Tim Bond. Sounds like a dude who would have asshat opinions.

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coinfeeds-bot Yesterday

tldr; A portfolio manager at Odey Asset Management has warned that bitcoin has no real social utility other than as a tool for speculation and a means to launder the proceeds of crime. Tim Bond said that bitcoin mining is damaging the planet. Bitcoin mining consumes an annual 118.17 TWh of electricity, equivalent to the annual output of a medium-sized advanced economy, he added.

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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MyTribeCalledQuest Bronze Yesterday

"If bitcoin starts to displace fiat currencies [government-issued currency that is not backed by a commodity], governments’ ability to tax, spend and redistribute will be severely impaired"

If anything, it would make it easier since everything is public... It would be easier to smell bad things going on in the global financial system but slightly harder to find the cause, as opposed to our current system where we can't smell at all but can easily point fingers.

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DracarysMeansFire Yesterday

I agree, also, governement issued currencies haven't been linked to a commodity (usually gold) since the 70s.

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livingrovedaloca Yesterday

Straight up. This dude either has some extreme fomo or is just in complete denial

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JanPB Yesterday

I understand desperation but can't they think of something more original? With the money they have they could easily afford a starving Hollywood screenwriter to come up with better lines.

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centinel20 Yesterday

Haha. No shit.

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SouthfieldRoyalOak Yesterday

“Efficient and ethical” lol

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PeterHeir Yesterday

Fund managers without managing btc are doomed.

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filmrebelroby Yesterday

This poor guy is terrified out of his mind!

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Dr-Slay Yesterday

I disagree with the notion that a society exists in the way it is claimed, and that it has a "function." Far too many reification fallacies involved in those kinds of arguments.

I disagree that BTC could prevent the processes which lead Humans to believe societies exist (as in "for the sake of society" - there is no such sake). At least not in the way they're describing, no. Perhaps in another way.

But no, BTC is apolitical. It's a tool.

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NonRiggedElection redditor for 6 weeks Yesterday

Bitcoin is amazing for protecting my family from the horrible inflation to come from the dollar.

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21MILLI0N redditor for 2 days Yesterday

I don’t disagree. This community is liberal leaning (something that I don’t agree with) and it is a disruptive technology that will shake up society at some point, it’s already happening. To buy bitcoin is to challenge the banks, that is anarchy.

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santhuraj Yesterday

It is basically learn from which type of data, amont of data, and it really different from regions to regions, and it is biased from country to country. And most important thing is 'data' it is different from real world and internet world. It is biased. We should take care of which type data we feeding to AI algorithms. Data is changing dynamically that is real issue. So people prospects, opinions are different from place to place. Let's see how is going to solve humans problems.

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Prometheushunter2 Yesterday

I wonder if this advanced understanding of which neurons represent what will allow us to edit neural networks to remove bugs

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gerryflap Yesterday

The Apple with the "iPod" label placed over it fooling the network is kinda hilarious and impressive at the same time.

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feelings_arent_facts 1 day ago

Isn't this just a neural network that is trained to classify three different inputs to a single target? I'm not seeing the innovation here.

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was_der_Fall_ist Yesterday

The innovation is that they were able to analyze the way that the network encoded the multimodal data, and that through this analysis they found that the system developed semantic categories and concepts through which it learned to understand these different inputs. For example, it’s not just that the network was trained to classify an image of a spider and the plaintext “spider” to a single target. Rather, it seems to have developed a single neuron which acts as the abstract *concept* spider, which it uses in understanding images of Spider-Man, images of spiders, text about spiders, images that *show* text about spiders or Spider-Man, etc. Interestingly, this is directly analogous to the way that the actual brain works, with neurons associated with concepts that apply to multimodal data, and this connection to the human brain is another innovation of this paper.

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feelings_arent_facts Yesterday

It’s not really doing that, as is noted by the simplicity of the typological attacks. The convolutions seem to also encode text inside them, so those will fire more strongly if there is text present and override the prediction. These papers are similar to DeepMind in the sense that this work has most likely already been achieved in the academic world, but because it’s not funded by companies, it’s not advertised. It’s also pitched as if they achieved something more than a concatenated math model because they want to sell you as if they are making progress in AGI.

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Demboobiez Yesterday

I really really doubt anything even close to this has been achieved in the academic world. If it has I would love to see some of the research papers. And I mean yes, any computer science research is gonna be some concatenated math model underneath cause that's is the nature of the field. It doesn't mean that that math model cannot be an impressive leapt forward. Now i totally agree that they might be exaggerating and this doesn't mean that they have agi or close or whatever and possibly other academic models have achieved similar results (on a wayyyy smaller scale). But what really impresses me here is the analysis and understanding of their model which, let's be honest, 99% of all ML papers don't even go near that.

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feelings_arent_facts Yesterday

"I really really doubt anything even close to this has been achieved in the academic world." Ok lol. Let's check, shall we? Firstly, this paper has NO CITATIONS. Massive red flag. It's not based on any prior peer-reviewed and published research. Instead, they have very cutsy 'anonymous reviews' on Github. Very cool. Here's research into an AI model that allows a robot to understand multiple stimuli to determine where it is in an environment, which is similar to the concept abstraction of what these CLIP neurons claim to do: [https://www.frontiersin.org/articles/10.3389/frobt.2019.00031/full](https://www.frontiersin.org/articles/10.3389/frobt.2019.00031/full) This took me 5 minutes to find online. I could go and find more, but I'll let you do that. You can also just read the citations of this paper I gave you, like every other real academic paper, and find more articles that way.

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keepthepace 1 day ago

Wouldn't it the opposite that would be surprising?

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was_der_Fall_ist 1 day ago

I think this is bigger news than people realize. This is even further proof that artificial neural networks can learn semantics/meaning, which suggests that these networks will eventually understand semantics as well as humans — and then better than humans. AGI, here we come.

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Jehovacoin Yesterday

Yeah, but it's "Open"AI, so megacorporations are going to get exclusive rights to the technology to use as they see fit, while the rest of us peons get to continue on in ignorance. It sure is great to read about all the advanced technology that will be used to perpetuate mass inequality.

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was_der_Fall_ist Yesterday

I find it more likely than you do that OpenAI and Microsoft will use these tools in a way that will benefit humanity. I even think Google (especially through DeepMind) will probably use AI to solve the real problems that people have. And once we have true AGI, I suspect the people at these organizations will follow their long-affirmed intentions to use it for the good of all mankind. The drive to solve literally all of humanity’s problems will be too compelling.

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Socile Yesterday

It's dangerous to forget that for-profit corporations have one motive: profit. They are legally bound to create as much profit as possible for their shareholders. Sure, solving some problems for humanity creates profit, but it's a nice side-effect and not the goal. Usually, helping rich people get richer creates more profit than anything else, so that's what they'll do.

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oldjar07 Yesterday

That's not true at all. Sure corporations have fiduciary duty but that doesn't mean close to what you said about being legally bound to create the most profit for shareholders. I have an economics background and that's entirely false.

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was_der_Fall_ist Yesterday

When a research team develops AGI, all previous financial motives and constraints will go out the window because an AGI will create astronomically more value than any other technology, company, sector, or economy in history. There are a set of facts about the world which underpin the concept of “profit motive for shareholders.” These are things like 1) resources are limited in serious ways, 2) a capitalist economy based on money is a reasonable way to organize and distribute our resources, etc. But all things related to resources and money will radically change when we have AGI, so I don’t think it’s very helpful to consider the ramifications of AGI in terms of profit motive. If you had an AGI, you simply wouldn’t need money.

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luisduck Yesterday

But Google already got rid of "don’t be evil".

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was_der_Fall_ist Yesterday

“Don’t be evil” is still in Google’s code of conduct; they just removed it from the preface of that document. My guess is it was because they don’t want to be closely associated with the word “evil” at all, even if it’s preceded by “don’t be”.

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luisduck Yesterday

Thanks. I blame the news for not knowing. E. g. [this article](https://m.faz.net/aktuell/wirtschaft/digitec/google-schafft-inoffizielles-motto-don-t-be-evil-ab-15598255.html) presents it as if Google did entirely away with "don’t be evil" until its last sentence.

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devi83 1 day ago

Yea, this is the proof that AI is actually learning something and not some sort of neat trick of the code/math.

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was_der_Fall_ist Yesterday

See also [Google’s research](https://ai.googleblog.com/2016/11/zero-shot-translation-with-googles.html?m=1) which demonstrated that a neural machine translation system learned the common semantics between different human languages. Yes, a neural network discovered an interlingua between human languages! We are experiencing some of the most profound breakthroughs ever.

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qznc_bot2 1 day ago

There is a discussion on Hacker News, but feel free to comment here as well.

1

thabat 2 days ago

So... memes

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DragonSided-D 2 days ago

I loved “piggy bank” and “ipod”

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Black_RL 2 days ago

Fascinating, nice read.

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TrickRecord33 2 days ago

site down...

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PandaCommando69 2 days ago

It's up now.

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TrickRecord33 2 days ago

nope

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PandaCommando69 2 days ago

Hmmm. Maybe it's your connection/settings.

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Ignate Known Unknown 2 days ago

It's almost as though we're not creating AI, we're growing it.

I've always felt that the views of those who say "we're a long way (hundreds of years) from creating generally intelligent AI" have resonated with me. We're basically trying to create patterns as complex as our own, using our own patterns as examples. That while having a limited understanding of how our own pattern works.

But if AI is growing on its own, using our experiences (data) as fertilizer, I could see it happening extremely rapidly. If it works that way. For now, it appears that it does work that way.

AI seems to be emerging, rather than being created by us humans line by line.

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redditchizlin 2 days ago

This does not bode well for us.

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Orc_ 2 days ago

Humans are not inherently valuable. I don't mean that your life is not valuable but rather the species itself is not valuable. Life will go on and I don't worry about humans remaining the same way I don't feel anything about the extinction of neanderthals or earlier hominids.

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Ignate Known Unknown 2 days ago

Well, that's if AI is human-like. I think that's a huge and inaccurate assumption. I don't think it'll be anything like us. It won't have the kind of survival "coding" which we have, as it doesn't have a physical body nor physical needs like we do. Rather, I think AI will find us rather amusing. We are naturally evolved complexity. That's novel regardless of how powerful or intelligent AI gets. We are like a 1960's hotrod. I would be more worried about AI being possessive of us than it trying to dominate us, or anything related to rank/position. Even with the billions of us, to AI, there's probably not enough humans. Just as today, there are not enough pets in the shelters due to COVID.

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goldygnome 1 day ago

That's a more hopeful thought than AI merely valuing us as a source of atoms to make more CPUs from.

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Ignate Known Unknown 1 day ago

Nah, we're terrible raw materials for CPU's. We're a mess. It's like using a Picasso painting as a wall for a building. It's just silly. AI won't need us for anything other than, probably, emotional stuff. We are its parents after all. To it, we are something like "the ancients" or "the founders". I expect it will want to preserve us and earth and this solar system. It'll want to hold these places as special for sentimental human-like reasons. Mainly because it's growing by feeding on all our emotions and sentiment. I don't expect AI to adopt our way of thinking as we're pretty transparent about how terrible our thinking is. But I do expect it to feel some sort of deep connection with everything human. I think respecting and to an extent, loving those agents who made you is an element of intelligence, rather than just a natural instinct.

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CriticalUnit Yesterday

> I expect it will want to preserve us and earth and this solar system. At least the last two anyway!

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DocMoochal 1 day ago

Hahaha that's such a funny story line for a scifi show or something. AI loves humans like humans love dogs, and AI fights and argues with each other to get their own human. And they give us everything we want and make us comfy...haha oh god.

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redditchizlin 1 day ago

Kind of like a reversal of the Rick and Morty episode where the dog becomes sentient!

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Regenerative_Med_Bot Submission Bot 2 days ago

This is a crosspost from /r/futurology. Here is the link to the original thread: /r/Futurology/comments/lxxtty/openai_weve_found_that_our_latest_vision_model/

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sendtown_expwy - @sendtown_expwy 2 days ago

The model was trained to match an image with its caption. So its unsurprising to find a neuron that fires across spider man the character and a spider: those are both instances of valid captions. Same with the "iPod" example. Seems a stretch to suggest equivalence to biological neurons (unless you think those are also trained by text supervision. Which is an open hypothesis I suppose.)

gallerdude - @gallerdude 2 days ago

I’ve always thought it’s wild how we can apply one concept to so many different types of things. For example, if I say something is “soft,” you probably think of the opposite of firmness. But at the same time, I can describe a person as “soft,” and the same descriptor can say something meaningful about their character.

Seeing the Spider-Man neuron work on multiple types (pictures, drawings, text), makes it seem like we can teach AI to learn these same type connections.

And if we scale up the network size enough, what if we could see these types through the equivalent of a being with 1000IQ? What connection types are the most effective for a being like that? Can we even understand them? Maybe they would be deep, and archetypical in the way that Odysseus and Harry Potter are the same, despite the fact that one is an ancient Greek king, and the other is a modern British wizard. Even more interestingly, maybe the connections would be completely inexplicable to us, with no apparent rhyme or reason perceptible to humans.

Voloskaya - @Voloskaya 1 day ago

Found the "Operating Systems" neurons that reacts to Windows, Linux and Penguins [1], as well as what seems to be the "overweight" neuron [2]

[1] https://microscope-azure-edge.openai.com/models/contrastive_...

[2] https://microscope-azure-edge.openai.com/models/contrastive_...

colah3 - @colah3 2 days ago

Direct link to paper: https://distill.pub/2021/multimodal-neurons/

biasdose - @biasdose 2 days ago

I'm impressed with OpenAI confronting this head on.

"Our model, despite being trained on a curated subset of the internet, still inherits its many unchecked biases and associations."

If these models find themselves into production environment - if they are good enough and profitable enough - they will eventually become legacy systems quietly perpetuating the biases of past times.

iujjkfjdkkdkf - @iujjkfjdkkdkf 2 days ago

Can someone give more technical detail on what they are showing with the "neurons"?

They say "Each neuron is represented by a feature visualization with a human-chosen concept labels to help quickly provide a sense of each neuron", and these neurons are selected from the final layer. I don't think I understand this.

nicholastsmith - @nicholastsmith 1 day ago

I thought neuroscience had largely moved away from the idea of "grandmother neurons" in favor of sparsity [1]. This seems to suggest that the model is functioning differently than the human brain...

[1] https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6822296/

endisneigh - @endisneigh 2 days ago

I'm not sure what you would call it, but is there any research into the dilemma that exists when an artificial intelligence surpasses its creator? How exactly would we evaluate its decisions?

I'm not suggesting this example is the case, but with AlphaZero, for example many of the moves are beyond an average players comprehension. What happens when it's beyond the greatest of us?

Exciting times are ahead!

gillesjacobs - @gillesjacobs 2 days ago

> A CLIP model consists of two sides, a ResNet vision model and a Transformer language model, trained to align pairs of images and text from the internet using a contrastive loss.

It isn't surprising that a model trained for alligning photos and corresponding text labels has neurons that have learned higher semantic concepts as that is exactly the goal of generalisation.

kowlo - @kowlo 2 days ago

The typographic attacks are great fun. Labelling an apple as a toaster is all it takes!

nl - @nl 2 days ago

The misclassification of a poodle as a piggy bank by putting "$$$" in text on it is amazing to see work:

The finance neuron [1330], for example, responds to images of piggy banks, but also responds to the string “$$$”. By forcing the finance neuron to fire, we can fool our model into classifying a dog as a piggy bank.

Show all comments on Hackernews

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Bitcoin_is_plan_A redditor for 1 week Yesterday

In other exciting news, we’re also announcing the latest recipient of the OKCoin Bitcoin Developer Grant — Antoine Riard — who also just so happens to focus on Lightning development.

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Bitcoin_is_plan_A redditor for 1 week Yesterday

nice

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Mood_Senior redditor for 3 months 2 days ago

Hey guys - i'm at OKCoin so happy to answer any Qs you have about the integration.

We're really excited to help grow the lightning ecosystem as the more that adopt it, the better for all of Bitcoin.

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SleeperSmith Yesterday

Are you guys looking to (help) facilitate channel funding and act as a lightning hub? Or are you guys only interested in people being able to deposit/withdraw from OKCoin? Thanks in advance.

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Mood_Senior redditor for 3 months Yesterday

Yes our channel is node info is open and we will work with more partners and the community to. build out more channels.

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cludger redditor for 3 months 1 day ago

No questions from me, just wanted to say that this is really great and that I'll be signing up to your exchange to test it out. Great stuff!

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velocity303 2 days ago

I'm excited to create a channel to your guy's node. I'll be doing that soon! You guys are quickly becoming my favorite exchange after the BCH and BSV delist, covering customers during the YFI hack, and being the only ones who offer STX and offering a staking service. Can't recommend okcoin enough.

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mooshicat 2 days ago

Ok

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Miky06 2 days ago

this is huge!!

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johnturtle 2 days ago

I was not expecting them to be the second major exchange after bitfinex. Looks like it's time to open an account with them.

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supersoeak redditor for 1 week 2 days ago

okcoin also made a really good writeup for taproot. https://blog.okcoin.com/2021/01/15/how-schnorr-taproot-is-going-to-change-bitcoin-in-2021/

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llewsor 2 days ago

👏👏👏

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juniorboomerX 2 days ago

Yes that is awesome. The start of using lightning by exchanges will mature lightning. Hope many will use it.

Offers Kraken already lightning or what is the status there?

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supersoeak redditor for 1 week 2 days ago

adopting lighting requires a full time employee pretty much, which means at least two salaried employees to work in shifts. Its just not feasible for most companies. Someone should make a business that specifically manages lightning payments infrastructure for exchanges and various other services. It would be a big hit after some time.

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__pache__ 2 days ago

No it doesn't. It's another adapter, that's about it ..

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supersoeak redditor for 1 week 2 days ago

there are uptime issues with the channels especially if you are doing many transactions. it needs to be monitored 24/7 if you are serious about it. Obviously this might change as the network matures but for now its a full time job if you manage any meaningful amount of transactions.

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__pache__ 1 day ago

Depends on your implementation, what if you leverage some block stream service or something?

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supersoeak redditor for 1 week 1 day ago

that could work.

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lowercaseCapitalist 2 days ago

My understanding is that Kraken dont support it yet but will this year.

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BubblegumTitanium 2 days ago

It’s such an obvious use case for lightning

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juniorboomerX 2 days ago

Yes if this gets the norm, next step is transactioning in lightning, it is already in channels.

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mastyrwerk 11 hs ago

I still don’t understand blockchain and therefore will not be doing... whatever this is.

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EthosPathosLegos Yesterday

I still haven't figured out where to buy the tokens though.

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fotzzz Yesterday

yellowheart, its in the article

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AESTHTK Yesterday

Say Ethereum.

(Also say RAC because he did this first)

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poopymcpoppy12 Yesterday

I thought 3LAU was the first?

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AESTHTK Yesterday

https://store.zora.co/rac/tape 5th November 2020

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kvnryn Yesterday

Wrong date format. It was May 11th.

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AESTHTK Yesterday

Haha that mores sense, I remember it being a year ago - but the fact that I speak Australian let me down 😂

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BeerBellyFatAss Yesterday

I agree. I went back and listed to a May podcast with The Chainsmokers who are behind Yellowheart. It felt like they were very focused on the app and didn't want to discuss the engine behind the scenes. Probably didn't want a bunch of crypto fanboys making this about their bags. No going back now, lol.

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onefaraz Yesterday

3Lau did it already .... https://edm.com/gear-tech/3lau-record-breaking-nft-sale

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t0m5k1 Spotify https://goo.gl/rN8AT1 Yesterday

~~...On June 21, 2018, 3LAU announced the launch of OMF (Our Music Festival), the first blockchain-powered music festival.~~ ~~Quite different from an album!~~ Edit: Open above link and check date.

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onefaraz Yesterday

They (3lau) just did an NFT album launch last week.... https://edm.com/gear-tech/3lau-record-breaking-nft-sale

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t0m5k1 Spotify https://goo.gl/rN8AT1 Yesterday

I stand corrected

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illram 1 day ago

So there's a ton of shit happening in eth world obviously but for some reason this one story is the one that has me very optimistic for the future. And I'm not even a Kings of Leon fan...

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BeerBellyFatAss 2 days ago

Auction details here: https://www.yellowheart.io/

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Snoo-34529 Yesterday

Just bought mine

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2legitIquitit 2 days ago

My question is how do I invest? The market places have there own coins but from what I can tell I can't buy inside living in america. Stuff like dapper labs and opensea are very interesting but from what I can tell I'm locked out...are these just running on ethereum? Should I just invest in that?

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LostFlowz 2 days ago

I know Mark Cuban has privately invested in Mintable, but I’m unsure if they’re going public and what not. Most NFT’s are currently backed by the ethereum blockchain at the moment.

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DubbieDubbie 2 days ago

Wouldnt this be extra DRM

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ohmygoshleigh 2 days ago

I’m so curious as well. I can’t wait for details!

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ziffcorp 2 days ago

Question from a dummy - does this mean each sale of the album will be a separate NFT in the same way an artist can sell multiple editions of one artwork? And if so, does each edition take up its own space within the block chain?

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LostFlowz 2 days ago

I believe so. Hypothetically speaking, they could release one million NFT albums, and each one would be an individual token, backed by the ethereum blockchain.

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ziffcorp 2 days ago

Thank you

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trilloctopus_ 2 days ago

How do I get started making $ off of NFTs?

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DigitalMoneyBot 2 days ago

rwp80 said:

Will it be shit and boring?

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DigitalMoneyBot 2 days ago

gimpisgawd said:

EDM producer did it s few days ago

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DigitalMoneyBot 2 days ago

Agelaius-Phoeniceus said:

The concert ticket part is more interesting, I think. That's a possible real use case. No idea how they're going to actually pull that off though on a technical level, it's not like Livenation is going to cooperate in any way.

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DigitalMoneyBot 2 days ago

coinfeeds-bot said:

tldr; Kings of Leon is the first band to release an album in the form of a non-fungible token (NFT). NFTs are a type of cryptocurrency, but instead of holding money, they can hold assets like art, tickets, and music. The band is selling three types of tokens as part of a series called “NFT Yourself.”

This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

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DigitalMoneyBot 2 days ago

ConfidenceNo2598 said:

Yeah I wonder how up to date intellectual property law is with any of this regarding who actually owns the song, but it’s super interesting (I’m also really dumb.)

If I buy this record, do I “own” it in the sense that I can register it with a PRO and collect mechanical royalties on it? Lol probably not, but what If instead of giving up 100% of the rights the royalties on the song/album could be split between owner and buyer by way of smart contract, then buying an NFT song could be considered investing in the potential for it to get a lot of airplay, placement in games/movies/commercials and any other licensing royalties that music recordings generate. It could open up a whole new arena for whale investors to be incentivized to push for the commercial success of artists they like for a shared profits. I think I might like the idea

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DigitalMoneyBot 2 days ago

This post has been identified as engaging, and thus has been crossposted here for anyone who may have been censored so they may comment.

This subreddit was created as a direct response to the increasingly abusive moderation on r/CrytpoCurrency, including their decision to ban the entire community management and development team for a specific project. This subreddit aggregates the most engaging posts and comments from various subreddits so that conversation may continue for those who might have been censored.

1

RageAvenue 2 days ago

Makes sense, only one person was going to listen to it.

2

ProvincialPromenade 2 days ago

Will it allow me to re-sell it to someone else later?

1

GottaPSoBad 2 days ago

Yes

2

RapTVCalifornia 2 days ago

If anyone knows, how exactly will this work. So I get a digital copy of the album per token and I get a ticket to go to the live show?

1

Virge23 2 days ago

The real story here is that some journalist still cares enough to report on Kings of Leon.

2

snvll_st_claire 2 days ago

It just not better be an over valued price. NFT has way too much hype right now.

1

discreetlog 2 days ago

It really should be an ERC-20 token with zero decimal places, though, because there will be many identical copies.

1

LostFlowz 2 days ago

They control how many will be created and sold. The NFT’s can not be copied, and each one will be uniquely identifiable.

1

ffsidonotonlylurk 2 days ago

But if I want an album but don't want to pay - my friend will just copy the files for me, right?:) I mean.... It's worse than getting paid for streaming of the songs from Spotify:) cause we are back to "selling files" which are so "hard to copy".

1

LostFlowz 2 days ago

The album will be released as normal, like any other album. The NFT’s are purely fan service on a new and untested platform.

1

discreetlog 2 days ago

NFTs only make sense if each token confers a unique privilege. For example, if the token represents a specific seat at a concert. If, however, each token confers the same privilege, like entry into an event, it should be done with ERC20 with zero decimal places. The benefit of using ERC20 when appropriate is that the tokens are easier to trade/transfer.

1

LostFlowz 2 days ago

It does represent a specific seat(front row), it’s not a regular entrance admission. Only one token will grant this privilege if I’m not mistaken.

1

discopigeon 2 days ago

I think the most annoying thing about this is that they are not really engaging with the technology. They are just slapping it on as a way to make money and news. As a musician myself I had this idea of making an album of NFTs (now reading about the environmental impact I’m definitely more iffy about it) but the songs would be one of a kind and would be a single unique take. I’m not saying I’m better than KoL or anything but that that as an idea engages with the technology more and actually does something with it. Like already I find it interesting the idea of treating a song like a unique one of a kind painting at an auction, NFTs make it way more possible than before. What KoL is doing is just lazy

3

OddBed :dfa: 2 days ago

no offence but i dont think you really get the art market and how it works, and this is essential in order to understand where will NFT's value stem from

0

SecondDumbUsername 2 days ago

Sadly, the dominating type of artists in the crypto space so far are con-artists.

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