Finding a Creature in Ethereum's Dark Forest

Re:Finding a Creature in Ethereum's Dark Forest by TacticalCoder on Wednesday December 29, 2021 @08:54AM (#29724787)

Not to take anything from cryptocurrencies but... Is there some proof-of-stake chain which copies, for free or nearly free (nearly free as in, for only the price of a normal transaction on that chain), all the "valuable" NFTs from Ethereum? For example something where everybody could have has many "yacht apes" (or whatever they're called)? I'd like myself a copy of everything, but without paying anything for it (I'm not talking about the copies where you still have to send valuable ETHs to get a cheaper price: I'm talking 100% free stuff). I know I could do it myself, but that's not the question: my question is if it already exist. I think it'd only be fair game. Pirate's life, aye!

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Re:Finding a Creature in Ethereum's Dark Forest by clippablematt on Wednesday December 29, 2021 @09:24AM (#29725035)

NFT content is 99% of the time already available free. You can think of it as one person paying the cost for everyone else to get free access. They are usually stored on ipfs or arweave so you can just follow the content id for the file you want. Beyond immediate metadata which you can access the use of the nfts are like keys to services (chatrooms, merch, club memberships) which you cant copy anyway because they are behind the private key of the owner of the nft.

So there would be very little reason to duplicate a chain for that. You can already get the free stuff and you can’t copy the rest because clubs will look at their register not yours.

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Re:Finding a Creature in Ethereum's Dark Forest by thinkmassive on Wednesday December 29, 2021 @10:08AM (#29725426)

TheNFTBay.org was covered here a few weeks back: https://news.ycombinator.com/item?id=29265064

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Re:Finding a Creature in Ethereum's Dark Forest by zemptime on Wednesday December 29, 2021 @09:01AM (#29724849)

This could be interesting. Value is assigned by people, so the fact the credentials for a given work reside somewhere else with 'less legitimacy' would mean yes - you could copy it. However this other chain would be entirely illiquid.

But...the interesting part. What happens when cross-chain asset movement is much simplified? I don't see there being any issue with legitimacy (original owners could still verify ownership, you couldn't). But if you flooded original chain with fakes, uh...

Talked myself out of it. nevermind

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Re:Finding a Creature in Ethereum's Dark Forest by saurik on Wednesday December 29, 2021 @09:09AM (#29724908)

Flooding the original chain with fakes doesn't make them look real: they are different tokens. It isn't like computers are squinting at the hashes and timestamps and public keys and getting confused as to their identity.

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Re:Finding a Creature in Ethereum's Dark Forest by miracle2k on Wednesday December 29, 2021 @09:13AM (#29724934)

This idea has been floated. Scammer Richard Heart is trying to this with Pulsechain, and somewhat more seriously, Avalanche wanted to run such a forked Ethereum as a subchain, but this appears to have been abandoned.

It is an interesting scenario to think through, in particular what happens with stablecoins etc. which would not be redeemable.

Ultimately, I predict such efforts to fail badly. The fact that e.g. Ethereum NFTs are copied will in fact work against such a fork getting traction.

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