CitizenVectron Posted January 24, 2022 Share Posted January 24, 2022 Very worth the 30 minutes to understand why the entire thing is evil on every level (and a complete scam). 1 Quote Link to comment Share on other sites More sharing options...
DarkStar189 Posted January 24, 2022 Share Posted January 24, 2022 I'll check this out tonight. My head spins sometimes just trying to understand this stuff. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted January 24, 2022 Share Posted January 24, 2022 For a more in-depth, but relatively accessible video about both cryptocurrencies and NFTs: 1 Quote Link to comment Share on other sites More sharing options...
cusideabelincoln Posted January 25, 2022 Share Posted January 25, 2022 Fucking hell, the technical properties if NFTs made absolutely no sense to me for the longest time, but the fact it requires crypto to mint one just put it into perspective. And I honestly thought they had enough allocation to store a file the size of a picture, but apparently not. Quote Link to comment Share on other sites More sharing options...
DPCyric Posted January 25, 2022 Share Posted January 25, 2022 6 hours ago, cusideabelincoln said: Fucking hell, the technical properties if NFTs made absolutely no sense to me for the longest time, but the fact it requires crypto to mint one just put it into perspective. And I honestly thought they had enough allocation to store a file the size of a picture, but apparently not. Don't let this sensational media fool you there are several block chains that don't require the computational power that BTC or ETH require (also ETH 2.0 won't be resource intensive). Also there is a large amount of people in poorer nations able to put food on their plates because of P2E games. It's not all a pyramid scheme destroying the environment. Quote Link to comment Share on other sites More sharing options...
TwinIon Posted January 25, 2022 Share Posted January 25, 2022 So he starts off talking about the problem with NFT interoperability, which is obviously impossible. I don't think he even covered half the problems with NFT items existing across games, but I think he covers the problem well enough. I think the same is true of his issues with play to earn. I think he brings up a lot of good points, but doesn't cover all of my issues with the problems that arise. The core issue he has with P2E is building in a deliberately not-fun grind so that people that have more money than time will pay to skip it, and that creates poor incentives on both sides and a bad gameplay experience. I don't think that's all P2E games, but I think that is a lot of them, and I think he's right that it just amounts to a bad game. I think there's also a third category of NFTs in game problems that I think he skipped over, which is pretending NFTs allow for something entirely new. Play to earn games can exist without NFTs. Allowing players to create in-game and make money can exist without NFTs. Interoperability of items between games can exist without NFTs. Essentially all of the many of the promises of NFT gaming are perfectly possible or already in practice without the blockchain, so in order for the blockchain to bring value to gaming, it needs to both do something worthwhile and prove that the blockchain is even a good way to do that thing, which it almost always is not. Quote Link to comment Share on other sites More sharing options...
legend Posted January 25, 2022 Share Posted January 25, 2022 5 hours ago, DPCyric said: Don't let this sensational media fool you there are several block chains that don't require the computational power that BTC or ETH require (also ETH 2.0 won't be resource intensive). Also there is a large amount of people in poorer nations able to put food on their plates because of P2E games. It's not all a pyramid scheme destroying the environment. You can make more efficient blockchain consensus methods, but you will never beat the limited resource intensity of a centralized system. If nothing else, bear in mind by its very nature, blockchain makes *everyone* have to manage the ledger of your transactions even if only 0.000001% of the population of the people using that blockchain actually cares about those transactions; it must forever be a part of everyone's ledger. NFTs and the blockchain don't solve any actual problem; people keep trying to slap it on to things because of hype and/or the potential to scam more people. Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted January 25, 2022 Author Share Posted January 25, 2022 5 hours ago, DPCyric said: Don't let this sensational media fool you there are several block chains that don't require the computational power that BTC or ETH require (also ETH 2.0 won't be resource intensive). Also there is a large amount of people in poorer nations able to put food on their plates because of P2E games. It's not all a pyramid scheme destroying the environment. Etherium moving from proof of work to proof of stake is something that has been promised forever...but has yet to materialize precisely because it would cost the already-invested early adopters profit. It is most definitely destroying the environment at present due to its energy demands, and the amount of money going to help out people in poor nations is a tiny, tiny fraction of the money being made by those with entrenched interests who already own the vast majority of crypto. This is all explained in the 30-minute video I linked, and even more so in the 2-hour video Wade linked. Quote Link to comment Share on other sites More sharing options...
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