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Folks, I think this NFT thing is done now. Have’t seen it in my YT recommends for days now.
Yeah it's a shame because these GPUs are really good for creation and VR etc, but I can't see it crashing any time soon....
@richardyot @Carnbot
this time it is not miners.. they are suffering by this shortage same way like others..
https://www.forbes.com/sites/stephenmcbride1/2021/02/24/theres-a-chip-shortage-and-tsmc-holds-all-the-cards/?sh=30e91945771d
https://www.reuters.com/article/us-autos-chips-breakingviews-idUSKCN2AU1UE
man, it's just starting.
https://www.foxbusiness.com/technology/nyc-film-director-sells-fart-for-85-cashing-in-on-nft-craze
and this is even more insane than selling farts. This this is going completely bananas.
https://www.coindesk.com/lindsay-lohan-partners-with-justin-sun-to-release-nfts-on-tron
Yes but any supply shortage is exacerbated by many people buying the cards for mining.
https://www.bbc.co.uk/news/technology-56114508
https://www.pcgamer.com/uk/gpu-shortage-mining-crisis-solutions-or-mitigation/
Pandemic social deprivation mass psychosis.
That’s not quite what is going on here. What is value? How can value be determined unless at least two parties come to a voluntary agreement? Crypto falls into this class. Value is determined voluntarily and the available supply are visible to everyone via blockchain. This is the opposite of how “money” is created out of thin air and manipulated via interest rates and supply by central banking authorities.
This is really horrible. Number of wasted energy in US - 67%, just electricity 24%
bitcoin needs to grow more, to stop this wasting and use it for somehing meaningful.
LOL. Again, “value” is relative. People paying for the use of electricity for their own purposes is their business and no one else’s.
The “what about“ approach to argumentation is a style mis-direction.
Good post.
Where I'm far from a Crypto evangelist or even a complete convert, I have a far greater fear about that last sentence than I do about crypto currency. That fear is not based on any "media" source but on common sense looking at the numbers and the practices of (primarily but not exclusively) the US government. It is indeed scary.
Most of the money in circulation is created as bank credit, when people take out loans (which they do voluntarily).
https://www.bankofengland.co.uk/-/media/boe/files/quarterly-bulletin/2014/money-creation-in-the-modern-economy.pdf
I hate what it says, but that chart itself is a masterpiece.
Interesting... this guy is selling a VCVrack composition as an NFT. It's on that Tezos blockchain based platform I mentioned.. and he's only asking 1 $XTC (I think that's only a little over $4) But still... interesting way to sell electronic compositions like this that aren't really typical song compositions. https://www.hicetnunc.xyz/objkt/8739
That’s very interesting.
The more I think about it the more I predict that it won’t so much be for actual artworks/opuses/songs etc, but rather, things like reviews, how-to, ‘the making of’, and that kind of interstitial informational glue we swim though every week.
Can never have enough red pixels
That’s outrageous! It’s clearly a blatant copy of a red pixel I once drew in the late 80s.
@wim @skiphunt,,,
)/it's the ID i see in the current «control» push to an androIDgynous society ,,,
how does it feel to be swallowed by the silicon snake? (for me)it sure takes getting used to
)
as you say @richardyot, "how to create scarcity in a world of limitless digital abundance" and ... why would we want to?
......
nwo//own er ship (and the UN-ing of the world?)?
the old scarcity thinking looking to hold on in the face of abundance
as will burroughs reminds us ...
«control» does not like to give up «control»!
....
interesting article @richardyot ... i remember seeing the "money" display at the british museum ... the exhibits leading toward the ever less human contact in their expression ... bitcoin seems like a «control» wet dream,, what's that line? ,, "computer says 'NO'"
but ... screaming "NO" in the face of the future, never seems to slow it,
so, what to do?
as @wim says "crypto mining is bad or good for the environment. It is here to stay." ,, this seems to be the case ,, be it bitcoin, or a future, "carbon-credit" ,,, the machine is here.
i like that our Love of music and music apps allows us to vent steam,,, to breathe through our thoughts,,, no matter how emotional we are to them
)
facebook recommended this memory today ... it seemed relevant
🎶 to us all ,, whatever are futures 🎶
Didn’t read all the comments to see but a recent story came out the a lower level women’s professional tennis player sold a 3inch by 6inch section of her skin on her arm between elbow and shoulder for $3000 via NFT’s just a few days ago. Crazy. She said you can put a temporary tattoo or hentai there.
Meet FN Meka, the World's First AI Rapper Who Sells NFTs...
No way, I don’t know if this is good or bad, ridiculous or brilliant, lol.
Countries That Consumer More Or Less Electricity Than Bitcoin In 2021
https://smallbusinessprices.co.uk/bitcoin-electricity/
I wonder if there’s a chart for Countries that consume more or less electricity than watching TV or playing on the PlayStation or X box or Christmas lights?
I would love to see a breakdown of all elements to give context to this type of thing...gonna search this out...
if i good remember i saw stats where in 2018 (or 2019, don't remember) just christmas light in USA (not worldwide - just united states !!!) consumed during 2-3 months more electricity than bitcoin mining for whole year :-D ... also recently funny numbers were about clothes dryers consuming more electricity than bitcoin mining, or warm bath tubes same - more than mining, or especially funny was that stand-by devices in USA are consuming 1.7x more electricity yearly than bitcoin mining ..
And we are still not talking about real mess which is result of GOLD mining. Like toxic chemicals released to nature and stuff like that. Or hardcore mess caused by production o LiON batteries (google for cobalt mining) which are neede for super eco friendly nice electric cars :-D
This nonsense about bitcoin mining was debunked in detail many times but energy consumption alarmists will again and gain reopen it, ignoring facts and just yelling random numbers without context .. No wonder - those fairytales are spreaded mostly by mainstream media financed by banking system, for which Bitcoin is real threat. It's wasting of time to try explain it, luckily this yelling can't stop progress
Looking forward to close future when even biggest Bitcoin opponents will change opinion, after they will face orwellian reality of CBDC (central bank digital currencies) and Bitcoin will be only way how to run away from this horrible dystopia
The trouble with libertarian utopias is that we have laws and regulations for a reason. The whole premise of Bitcoin is that it can somehow replace our existing legal system with the magic of the trustless blockchain, which of course is an invitation for scammers to come and fleece the gullible.
One of the many drawbacks of Bitcoin is that it is illiquid, so the geniuses of crypto invented "Stablecoins" which track the dollar 1-to-1. Or do they?
https://crypto-anonymous-2021.medium.com/the-bit-short-inside-cryptos-doomsday-machine-f8dcf78a64d3
If people want to live in a fantasy world where dollar hyperinflation is just around the corner (™ 2008) that's up to them. Here in the real world it's Bitcoin that is heading for crash. Thank you for coming to my Ted Talk.
I think Bitcoin is too heavily adopted to crash now, there are so many people hoping that it does crash, so it's cheaper to buy again that I don't think it's possible, whilst it may dip a bit, most experts agree it will continue to escalate in the long term. The main thing experienced bitcoin investors fear is the sudden reappearance of Satoshi, who could suddenly decide to disrupt the market by flooding it with cheap bitcoin (as he has the most) or he might have dodgy political views which could devalue the project.
The NFT market is crashing as we speak:
As for Bitcoin, that will crash too at some point. 70% of the trading is done with a cryptocurrency named Tether (see the link I posted above). Last year, just as the pandemic got started, Bitcoin suffered a big crash:
So Tether starting printing unbacked cryptocurrency to inflate the market, and has continued doing so for the past year to the tune of hundreds of billions of dollars worth. This is what the majority of Bitcoin and crypto trading is being done with, and it's completely fraudulent. Once people try to exit the market in any kind of numbers they won't be able to because they can't redeem their Tethers for dollars. It's not even a ponzi scheme, it's outright currency fraud.
This is the problem with crypto in general. It's based on the belief that central banks are involved in a conspiracy against humanity, so the solution is to build a new financial system outside of the existing legal and regulatory framework. But the existing laws and regulations help to protect us from scammers and thieves. So this alternative structure is a dystopian hellhole of unscrupulous fraudsters who are more than happy to exist outside of the regulatory constraints and laws we spent centuries building.
Libertarianism is as naive and ultimately dystopian as communism. Anyone who thinks they can just dismantle society and rebuild it to fit with some narrow ideal is delusional.
China is already going down this road, and it's sinister as hell (the whole thread is worth a read):
However I don't see this happening in the West, because despite all their flaws (which are legion), our governments are democratic, unlike China.