I've been in mostly violent agreement with @smdiehl and others who call out cryptocurrency and its descendants for what they are—an end run around financial regulation at best, a massive fraud at worst. We all agree it makes no sense as a technology. But one thing worries me:https://twitter.com/smdiehl/status/1445795667826208770 …
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The web itself, meanwhile, is sterile and moribund. There's nothing fun or weird around that doesn't get immediately co-opted, and there's certainly no DIY or collaborative culture of making cool things. You can play with the toys Google or Amazon gives you, big whoop.
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The fact that the project at the heart of this pretty vibrant online culture is rotten makes it hard to accept that the social phenomenon around it is real and has depth and value. It's like watching animals come to a watering hole we know is filled with gasoline.
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But this is also an indictment of the web. Why did we let it basically turn into TV? Where's the outlet for talented young people who want to turn the world upside down, but don't care to sign on to the giant scam that is cryptocurrency? We don't have a good answer for them.
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And part of it is definitely that everyone today carries an incredible computer in their pocket and... you can't do anything with it. My first computer program at age 8 made an IBM desktop write profanity in an infinite loop. I wouldn't begin to know how to do that on an iPhone.
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The thing with NFTs that gives me the slightest twinge of hesitation about lumping it in with other blockchainery is the fact that it provides a new way for artists (even of I don’t appreciate most of the art) to sell their work. But…
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… it still feels very much like a fad, and nothing about the actual art (except to the extent the whole thing is conceptual art) actually requires the NFT to make it work. It also seems to amplify all the worst ways in which art is being eaten by the “art market”.
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... is it? It just seems like waves of hype that surround any MLM or pump and dump scheme
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Yeah this is where I'm at. There's room for experimentation and making money bc shit tons of "value" is floating around and some can be scooped up on the side. This is bolstered by the fact that NFT culture boosts engagement with crypto in general so it's worthwhile to push.
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