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DSA ✊

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  • 63 Posts
  • 254 Comments
Joined 1 year ago
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Cake day: March 16th, 2025

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  • John@lemmy.mltomemes@lemmy.worldWho could have seen this coming
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    11 days ago

    It’s always a catch 22 with crypto-skeptics, in my experience. I try to be vague enough so people simply understand the use cases and why there’s excitement for the tech, but then if I get too technical it “gets nebulous” since there’s lots of jargon. Very difficult to find the middle ground. In most cases, simply using the tech will clear up 99% of people’s questions … at least that’s how I got into it as a former skeptic myself.






  • John@lemmy.mltomemes@lemmy.worldWho could have seen this coming
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    11 days ago

    NFT-haters love to point out that the thing you ‘own’ is the blockchain token, not the actual art asset itself. I always find this argument silly since:

    1. the token is the whole point. The NFT revolution (or mania, if you want to call it that) is because the tokens are the enabling technology. Where the art itself actually lives is just secondary. Nobody is getting excited about the JPEGs themselves, not really (let’s be real, most of the “art” is dogshit). People got excited about what the tokens enabled. Just one example, I can send all owners of my photos (the tokens) additional art as a bonus thank you. I know exactly who has my tokens. I can also gate premium features (similar to Patreon) to token holders. This functionality is how Ticketmaster is exploring NFTs

    2. If I buy my digital wedding photos, or something on DeviantArt, or wherever, and if I lose that asset (computer wiped, whatever), I can just go and redownload it. It’s a copy. Of course it is. We live in a digital age. I don’t really understand why NFT-haters rave all the time about owning copies of the assets. Of course it’s a copy. Even onchain art assets are just ‘copies’ since it’s decentralized over 1000s of computers


    Isn’t that like owning an original photo?

    Anybody who’s ever used the technology will understand this immediately. Anybody who has actually bought/used NFTs understand how silly these ‘well technically…’ arguments are.

    What a good argument would be would be the distinct between ownership and possession:

    ownership = rights (human law, rulings/opinions, enforced top down. i.e. titles)

    possession = control (physics laws, math, enforced bottom up i.e. car keys)

    crypto IMHO was never about the former. “Ownership” will always live in the layer of social agreement. What crypto gives is “possession”: control above the TOS and paper rights that web 2 gave us. The first time the user can possess the keys to his stuff on a database that’s shared with other people (and not just the illusion of). This distinction is the reason why even though you do “own” your digital song/videos/game loot on amazon or PS5 via their TOS, you cannot trade it, swap it with a friend, resell it… The key never left your digital landlord, they just let you in to play. You had the papers for your car, but not the key. You never possessed what you owned.


  • In your opinion, how is that functionally different than when I sold photos on DeviantArt, and they got an email instead of a token? Are NFT-haters upset that art is being sold at all? Or are they upset about the delivery system?

    bought art and also given out/received pointers to the receipts as NFTs.

    I have NFTs with assets on chain as well, so in fact those ones aren’t just “pointers”.


  • John@lemmy.mltomemes@lemmy.worldWho could have seen this coming
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    11 days ago

    I’ve sold some photos as NFTs 🤷‍♀️, and I’ve bought some art from well known people like sabet and ame72.

    It’s not as ridiculous as people make it sound. It’s just these headlines of the most ridiculous examples sets people’s perception of the tech. It’s really not much different than patreon or something, except the creator doesn’t get totally screwed.





  • These are relatively new changes then

    Not really. Lightning has been around for many years. Ethereum transitioned to Proof of Stake back in 2022. Layer 2s on Ethereum went live in 2021-2023, continuing on and ever expanding up until today.

    I remember when a transaction cost $25 and 7 minutes

    For Bitcoin mainnet, this may still be the case, however in practicality 1) that’s still faster than tradfi settlement times (ACH takes 5-7 days to settle), 2) depending on the amount of money you’re moving, $25 might be very cheap, 3) most people will use Lightning if they value speed and cheap fees. With Ethereum, block times are every 12 seconds or something like that. So actually it’s not only fast but very consistent. Fees [on Ethereum] have been very cheap since blockspace demand has been muted the past couple years, however like Bitcoin most people prefer to use Layer 2s

    In any case, that wasn’t practical for anyone except organised crime

    that’s just simply not true.

    And the fact that crime is still a major user.

    I’ve got news for you, tradfi ain’t much better. Regardless, there’s a large and growing list of use cases that don’t involve “crime”: https://ethereumadoption.com/built-on-ethereum?view=byEntity. Exchanges, lending and borrowing, mortgages, insurance, derivatives, pay day loans, no-loss lotteries, social media, collectables, identification, certifications, streaming salaries, …



  • For normal transactions, it’s too slow and expensive, but for crime, that’s not a problem.

    I’m no lover of Bitcoin, but this is just false. Using the Lightning Network (basically a Layer 2 application on top), transactions are near instant and cost only pennies.

    Using the Ethereum network and L2s, which has an energy expenditure less than that of your dishwasher, you can move money instantly and for basically fee. There’s a reason big corporations like Visa and countless others are heavily investing in and building on Ethereum: it’s faster and cheaper than legacy tradfi rails. Also, it’s a pretty good way to get aid to Gaza and other war-ravaged countries, pay for privacy-respecting email and VPNs, etc.

    primary use case is crime, money laundering, drugs, assassination, ransomware

    In fact, crypto has moved on from 2009-era use cases: https://ethereumadoption.com/usecases/