Re:NFT projects are just MLMs for tech elites
by jollybean on Friday October 01, 2021 @12:52AM
(#28714701)
"There are an infinite number of potential NFTs. "
There are an infinite number of made up currencies as well.
Because neither of them function as a currency then they are the same thing, the difference being, with NFT's you own some 'art' or something like that, with Crypto you own a 'number'.
The 'potential usefulness' of Crypto makes it feel like it has more material merit, but in practice, they're not useful (not yet), so they might as well be NFTs.
There are no Crypto models today that make sense in any real systematic way, other than some governments reasonable attempts to be more digital, which comes wit a bunch of scary caveats as well.
Currency is a form of social credit that is fundamentally tied to the economy in which it is used as a means of transaction, there is no escaping that reality. We can't just magically make up some thing that is independent of that underlying reality.
If we could merely overcome the kludigness of banks, and the transnational cost of VISA - and make something a little more easily internationalized ... those things would help, but those probably are going to have to be a function of 'good governance'. Maybe the experiments in New Zealand and Sweden etc. will pay off if they can find something that works, that can be expanded upon.
There are an infinite number of made up currencies as well.
Because neither of them function as a currency then they are the same thing, the difference being, with NFT's you own some 'art' or something like that, with Crypto you own a 'number'.
The 'potential usefulness' of Crypto makes it feel like it has more material merit, but in practice, they're not useful (not yet), so they might as well be NFTs.
There are no Crypto models today that make sense in any real systematic way, other than some governments reasonable attempts to be more digital, which comes wit a bunch of scary caveats as well.
Currency is a form of social credit that is fundamentally tied to the economy in which it is used as a means of transaction, there is no escaping that reality. We can't just magically make up some thing that is independent of that underlying reality.
If we could merely overcome the kludigness of banks, and the transnational cost of VISA - and make something a little more easily internationalized ... those things would help, but those probably are going to have to be a function of 'good governance'. Maybe the experiments in New Zealand and Sweden etc. will pay off if they can find something that works, that can be expanded upon.