Yeah, it's a great video. Detailed breakdown of the whole Crypto Sphere summed up with "They saw the 2008 Banking Crash and the takeaway they took is "Why can't I be the boot"."
Also unexpected Mother's Basement voice cameo.
Edited by Ghilz on Jan 21st 2022 at 9:05:28 AM
I already hated cryptos and NF Ts before, and now after watching this video, I'm filled with unbridled rage and depression.
That shouldn't be possible...
Rules of the Internet 45. Rule 45 is a lie. Check out my art if you notice.The worst part is how that horribly ineffiient and wasteful process isn´t an accident, but created by design, like a lot of the other problems of crypto. For all the buzzwords and lofty ideological propositions, all it really does in practice is serve as a financial speculation playground for the wealthy, consume an amount of energy completely disproportionate to its actual use case and benefit to society (even if we use the more conservative estimates), and help drive up the prices of graphics cards making an entire consumer market incredibly prohibitive and hostile to consumers.
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Graphic cards are best for the kind of complex math crypto requires and thus form the core of most mining rig and ledgers, causing scarcity
They are partially, alongside the pandemic, why no one can buy a ps5
Like Dan says, what the tech can't and can do doesn't matter to web3.0 evangelists. Heck what a given project will do doesn't matter, so long as you can sell it to a mark.
Edited by Ghilz on Jan 22nd 2022 at 9:35:34 AM
This was an incredibly insightful video into how crypto and NFTs are somehow so much worse than mainstream discussions have shown them to be, it really is nothing but scams all the way down with some of the worst techbro ideas imaginable.
Though on a petty note, I was very dismayed to learn the sheer volume of incredibly ugly icon art out there besides the apes and lions.
>Realistically, blockchain is too shitty a technology to ever really see the kind of use the later parts talk about
Not entirely. One of the implicit things is that blockchain works fairly well when it's just small scale. It's easy to copy the implementation of someone else's work. So the risk you run is that you get a scenario like the bazillion streaming platforms or gaming platforms. Steam implements Steamcoin, an NFT that tracks your activity and enforces DRM. In fact, one of the things Dan speculated about on his streams (but not the video) is that websites could, rather than sell you the game/product, sell you the NFT. Imagine a Photoshop NFT, that has to be traded through Photoshopchain. You don't actually own the software, you own the NFT that gives you access to the software. Congratz, you now have the ultimate self-enforcing DRM. Want to sell it? you can't the smart contract prohibits this. Want to use it on a tuesday? you can't. Is it a full moon? it's double as expensive.
You would essentially see an explosion of blockchains that really only run on a few servers, giving the owners defacto control. A Steam blockchain might notionally be decentralized, but realistically the resources of steam are too big to compete with. It can be sold to users with the promise of freedom and self-governance, but (a thing Dan does note) be effectively uncontrollable due to how the rules work.
TBH, companies could do that already without the blockchain. It's once again the paradigm of "The Blockchain is a solution in search of a problem". Software licenses already exist, including ones that need to be checked online. The only thing a Blockchain adds is that your auth server is now distributed.
"You don't own the software, you own the license to use the software" is already the norm among many a thing (Including graphic design software, where it's been a thing for ages).
"You can't sell your nft", well you can't sell your license most of the time coz it often has a limited number of activations and is equally tied immutably to an account. You could theoretically sell the account credentials, the same way you'd have to sell your Photoshopchain wallet.
Add that there's no real incentives for third parties to host your block chain so the company implementing it doesn't even save on the coz of building what is effectively an auth server. Only way to make an incentive is you need to include a crypto currency, but then again you need people to have a way to cash out that money. If everyone pays steam in Steamcoins but Steam can't turn around and find someone else to buy the steamcoins from them, they are effectively just losing money.
The real irony of cryptobros is they are dreaming of a nightmarish hell future, but their nightmarish hell future can easily be made without crypto. They just want the crypto bit coz they hope they'd be the ones making money from it.
The real edge crypto has is that if a company uses it it'll have a ton of idiots going "Yes step on me daddy and take away my freedoms" to evangelize for them.
Edited by Ghilz on Jan 24th 2022 at 6:53:40 AM

Here's the Youtube video.