It's time for us in the tech world to speak out about cryptocurrency

Re:It's time for us in the tech world to speak out about cry... by dumbfounder on Sunday May 30, 2021 @04:51PM (#27336618)

I think NFTs will transform the concept of ownership, and take power away from major corporations in the process. This is just one aspect of crypto that I think more than justifies its value. But there is a ton of hype and a ton of bad stuff going on yes, but that will be pushed to the background as it goes more mainstream. All people inside the industry think this is just the beginning and there is a lot of value to be extracted. Is it overvalued for what it delivers on today? 100%. But I believe it will catch up and surpass it soon. There are multiple singular companies that are more valued than the entire crypto market right now. It’s a drop in the bucket.

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Re:It's time for us in the tech world to speak out about cry... by idlewords on Sunday May 30, 2021 @05:13PM (#27336854)

I don't understand the belief that any of this takes power from corporations. If you look at NFTs right now, big participants include the NBA, Sotheby's, and a whole lot of venture capital. What's the dynamic that's going to shut them out as they become more lucrative?

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Re:It's time for us in the tech world to speak out about cry... by dumbfounder on Sunday May 30, 2021 @05:36PM (#27337079)

Creators of content controlling that content without the need for big corp involvement, which can be corporations yes, but also the little people. This could be access/distribution, royalties, licensing, and more.

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Re:It's time for us in the tech world to speak out about cry... by cratermoon on Sunday May 30, 2021 @06:36PM (#27337582)

The big corporations have binders full of techniques to take control of content from the little creators and claim it for themselves. A popular one right now goes: A one-person operation making and selling designs could find their online work subject to pointless DMCA complaints or even threats. They'd crumble at even the threat of a big corporation actually suing for infringement. Now the big company copies the individual's designs, and collects rent on something it didn't create.

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Re:It's time for us in the tech world to speak out about cry... by ttepasse on Sunday May 30, 2021 @05:33PM (#27337050)

An NFT is ... a digital receipt that “money” flowed at one moment in time. The referenced digital artwork or something is only referenced by an URI. That is ownership? Seems a very transformed concept to me.

My supermarket gives me an NFT in paper form every-time I buy something.

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Re:It's time for us in the tech world to speak out about cry... by ZephyrBlu on Sunday May 30, 2021 @06:54PM (#27337737)

Except the NFT the supermarket gives you isn't cryptographically verified.

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Re:It's time for us in the tech world to speak out about cry... by EliRivers on Sunday May 30, 2021 @05:07PM (#27336775)

I think NFTs will transform the concept of ownership

The current concept of ownership appears to be that if I own something, broadly speaking, that means people generally agree (and the state, and ultimately their monopoly on force, will back up) that I get to say what gets done with it and who gets to make use of it, and that it's not OK for someone else to take it away from me without my consent.

If NFTs are going to change that, I'm not sure I like it.

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Re:It's time for us in the tech world to speak out about cry... by dumbfounder on Sunday May 30, 2021 @05:12PM (#27336843)

I meant to say concept of ownership of digital content. My wording was ineloquent.

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Re:It's time for us in the tech world to speak out about cry... by delaaxe on Sunday May 30, 2021 @05:16PM (#27336884)

Ownership is information, not the underlying asset

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Re:It's time for us in the tech world to speak out about cry... by dumbfounder on Sunday May 30, 2021 @05:37PM (#27337094)

Exactly, but it will be also about the underlying asset soon. This is what my company is working on: Darkblock.io

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