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NFTs for music / auction music to the highest bidder via crypto tech


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1 hour ago, acid1 said:

[..] I wish there was a coin we could hook up to [email protected] and use crypto to actually solve cancer or covid19.

you can do this with theta edge node
https://medium.com/theta-network/theta-network-introduces-edge-compute-aiding-folding-homes-fight-against-covid-19-and-other-aac8742aeb12

https://www.thetatoken.org/

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1 hour ago, acid1 said:

I'm disappointed in the mining process by only the means that it feels like lazy pointless engineering to me. I am more impressed with the way cardano solved it via ouroboros. I wish there was a coin we could hook up to [email protected] and use crypto to actually solve cancer or covid19.

 

this type of stuff sounds nice in theory but in practice is meaningless.  if you are aware of the distribution of computing power you would see that most of the truly high powered machines are being used for corporate capital building.  the better solution is to skip this nonsense where low-efficiency consumer machines are used for small amounts of computation, and instead seize the means of computing and forcing them to instead perform useful computation, not useless revenue driven click optimization

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7 hours ago, zero said:

CNN is what it is when it comes to politics, but I found this article very easy to understand, for anyone else still asking wtf this is all about:

 

https://www.cnn.com/2021/03/14/tech/nft-art-buying/?iid=ob_lockedrail_longstory_pool


That article got most of it right except for the part about an NFT being a way to purchase digital art. It’s not the art you pay for. It’s the actual transaction that people are placing value on. It’s set up in a way that the right to conduct a specific transaction is sold and the act of being able to make the transaction is immutable.

 

The analog world equivalent would be a room of people bidding for the right to place their name in a book with a record of the date, time, amount, and the counter party they paid for the right to sign the book. They hand over the money, sign it, write the time, amount, and the counter party signs that they agree to forfeit their claim to the transaction. The record of the transaction is now owned by that bidder. Anyone in the world can now look at the permanent ledger and see that specific transaction actually took place and the record will never change.

 

The person who owns the record of that contract may wish to sell it in the future. The record of that contract can be constructed in a way that each resale pays the originator of the record a royalty. There are other spins on it but that’s the gist.

 

It is being pitched as a way for an artist to show the provenance of their work. They create the opportunity to conduct a scare number of specific transactions and say that those transactions represent some notion of originality. It’s all about perception. If everyone agrees that the trade of opportunities to conduct transactions in an immutable ledger is valuable and represents the things they are supposed to symbolize, then it does.

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6 hours ago, cyanobacteria said:

 

this type of stuff sounds nice in theory but in practice is meaningless.  if you are aware of the distribution of computing power you would see that most of the truly high powered machines are being used for corporate capital building.  the better solution is to skip this nonsense where low-efficiency consumer machines are used for small amounts of computation, and instead seize the means of computing and forcing them to instead perform useful computation, not useless revenue driven click optimization

 

you have no idea what you're talking about.

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40 minutes ago, hijexx said:


That article got most of it right except for the part about an NFT being a way to purchase digital art. It’s not the art you pay for. It’s the actual transaction that people are placing value on. It’s set up in a way that the right to conduct a specific transaction is sold and the act of being able to make the transaction is immutable.

 

The analog world equivalent would be a room of people bidding for the right to place their name in a book with a record of the date, time, amount, and the counter party they paid for the right to sign the book. They hand over the money, sign it, write the time, amount, and the counter party signs that they agree to forfeit their claim to the transaction. The record of the transaction is now owned by that bidder. Anyone in the world can now look at the permanent ledger and see that specific transaction actually took place and the record will never change.

 

The person who owns the record of that contract may wish to sell it in the future. The record of that contract can be constructed in a way that each resale pays the originator of the record a royalty. There are other spins on it but that’s the gist.

 

It is being pitched as a way for an artist to show the provenance of their work. They create the opportunity to conduct a scare number of specific transactions and say that those transactions represent some notion of originality. It’s all about perception. If everyone agrees that the trade of opportunities to conduct transactions in an immutable ledger is valuable and represents the things they are supposed to symbolize, then it does.

 

Danke for the concise distillation m8

 

I still think they're nada butt tulip futures, but hey prove me wrong kids, prove me wrong
 

Spoiler



 

 

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4 hours ago, cyanobacteria said:

then teach me senpai

 

teaching is for those who are willing to be taught, which is not you, and those who can teach, which is not me. these however are some bare facts:

  • [email protected] became the world's first exaflop-level computing system last year, and grew further on that throughout 2020, so no, it is not "small amounts of computation" by any stretch of the imagination
  • [email protected]'s stated goal is to contribute to medical research and help zero in on new drugs to combat illnesses, which it demonstrably has done and is doing, so no, it is not "being used for corporate capital building" and is not "meaningless in practice"
  • [email protected] is not monetised or click-driven in any way, it's a clear-cut example of a computing system that has been engineered for people to participate in altruistically, with ease and low cost, and solely for producing a public good

basically every sentence you wrote in that post, where [email protected] is concerned, is wrong.

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@hijexx thanks for the explanation. the pieces are slowly coming together, but it all seems just so sketch/scammy.

 

this whole discussion about NFT's has got the gears turning again when it comes to the definition of what art is exactly. got me thinking back to the days when I was interested in art theory, Tolstoy's definition of "true art," crap like that. bet the old bugger wouldn't be pleased if he knew alien cat jpegs are bringing in mad crypto bucks to ruskie hackers posing as "artists."

 

I personally couldn't see myself partaking in this sort of thing UNLESS the McGriff Burlap series goes up for auction at some point. I'd chip in a shiny nickel or two to own a slice of those MSPaint masterpieces...

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Its kindof like having limited edition vinyl even though an mp3 recording of that vinly is on limewire.

 

Everyone has copies of the music, and anyone can listen to the music, but only 250 people have the round piece of PVC with the soundwaves of the music etched into it

 

Where money meets the world of art, there's very little that makes any sense.

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some deep shit here y'all:

https://www.iheart.com/content/2021-03-14-kings-of-leon-have-generated-2-million-on-nft-sales-of-their-new-album/

Quote

"It's like, there has to be a first band to release their album on 8-track, and then cassette tape, and then CD, and then digital. So, we knew that those bands probably got a little bit of pushback from people thinking that ... like a compact disc probably didn't seem very tough or cool back then," bassist Jared Followill added. "But, then it kind of takes over and that becomes the only way that people ingest that world. But, just like any other form of art, it's just buying art, it's encoded, it's your own personal piece of art that only you can have. It's like, you can go to the Louvre and take a picture with your phone of 'The Mona Lisa,' but you don't own 'The Mona Lisa.' So, you have this thing, this piece of art, and sure, people might be able to try to recreate it, but they don't own it, you do. You've got the codes. It's very, very futuristic and it'll take a second for people to wrap their heads around it — it took us a good bit."

 

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7 hours ago, usagi said:

 

teaching is for those who are willing to be taught, which is not you, and those who can teach, which is not me. these however are some bare facts:

  • [email protected] became the world's first exaflop-level computing system last year, and grew further on that throughout 2020, so no, it is not "small amounts of computation" by any stretch of the imagination
  • [email protected]'s stated goal is to contribute to medical research and help zero in on new drugs to combat illnesses, which it demonstrably has done and is doing, so no, it is not "being used for corporate capital building" and is not "meaningless in practice"
  • [email protected] is not monetised or click-driven in any way, it's a clear-cut example of a computing system that has been engineered for people to participate in altruistically, with ease and low cost, and solely for producing a public good

basically every sentence you wrote in that post, where [email protected] is concerned, is wrong.

this would be a great post if anything you said contradicted anything I said.  it's great the work they're doing but don't pretend there aren't idiots running it on decade old hardware in a way that is counterproductive due to advances in energy efficiency of CPUs

cryptocurrencies have economic incentivization built into them to require efficiency energy usage in order to avoid losing profits.  the "altruistic" [email protected] project does not so no doubt many people are CPU-mining, a complete and utter waste of electricity in comparison to how much computation could be done on dedicated recently designed GPUs.  ask yourself why important medical research requires the begging of researchers for the common people to lend their random computers to help rather than receiving what they need through the allocation of public funds

Edited by cyanobacteria
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feels like you are paying for an extremely personalized autographed cd that will kick back some royalties to the artist, and also log your sale when you buy it and eventually sell it. except it isnt a CD or anything you would spend collector $$ on anyway. I still cant wrap my head around any advantage to the consumer other than it somehow being scarce and collectible. I guess one selling point is that someone, somewhere will be able to see that I was the 1st or 2nd or 8th person who purchased it?

it feels as if music is not the right place for this new tech...its cool that artists will get some royalties...but...

 

this is like BTC except u cant even use it to buy drugs. fucking useless

Edited by colunga
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5 hours ago, cyanobacteria said:

this would be a great post if anything you said contradicted anything I said.  it's great the work they're doing but don't pretend there aren't idiots running it on decade old hardware in a way that is counterproductive due to advances in energy efficiency of CPUs

cryptocurrencies have economic incentivization built into them to require efficiency energy usage in order to avoid losing profits.  the "altruistic" [email protected] project does not so no doubt many people are CPU-mining, a complete and utter waste of electricity in comparison to how much computation could be done on dedicated recently designed GPUs.  ask yourself why important medical research requires the begging of researchers for the common people to lend their random computers to help rather than receiving what they need through the allocation of public funds

it does contradict what you said, in very clear English and using your quotes, point by point. save your word salad bullshit and weaselly constantly goalpost-moving counter arguments for someone who can be bothered.

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10 minutes ago, usagi said:

it does contradict what you said, in very clear English and using your quotes, point by point. save your word salad bullshit and weaselly constantly goalpost-moving counter arguments for someone who can be bothered.

I'm sorry you can't apply a critical analysis to the use of computational power. also you completely misread my post claiming that I claimed [email protected] is corporate capital building.  Don't bother replying if you're not going to be factual and read the plain English in my post

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