Cryptocurrency Daily Discussion - April 3, 2021 (GMT+0) |
- Daily Discussion - April 3, 2021 (GMT+0)
- Cashing out tonight because I finally met my goal of buying a house!
- In December NFL offensive tackle, Russell Okung, asked for half of his salary in BTC. That half is now worth more than his entire salary.
- $2T market cap surpassed
- Delete Robinhood (if you still haven’t)
- ADA shills saying “cARdAno iS 100% dECenTrALisEd” are being dishonest and misleading.
- Polkadot (DOT) has quietly overtaken Cardano (ADA) in market cap.
- It is very easy to make your own token. It is incredibly easy to go out and shill it. Be careful.
- $BEPRO: How an ambitous team with an unfulfillable goal made millions off the backs of uninformed investors. An ongoing case study into the current status of the cryptcurrency space.
- With the ATH of ETH, you now have to cough up almost 70k USD to run a validator node to stake on your own...
- Huge Bitcoin (BTC) investment announced by the New Zealand Pension Fund....Open the flood gates!
- JPMorgan adjusts its long-term Bitcoin price target to $130,000. The price of Bitcoin could reach $130,000 in the future, JPMorgan's analysts noted, but this won't happen overnight. At the same time, the researchers pointed out that Bitcoin’s “digital gold” narrative continues to gain momentum.
- Ether Price Rises Above $2K for First in Six Weeks
- CREEPY: Major Crypto Bull Runs Occur During Major Locust Outbreaks
- My DD for Request Network, an ambitious project.
- My technical analysis on which AMA host will give you $7 if you ask them
- Grayscale Adds 5.5 Million XLM to Stellar Lumens Trust By CoinQuora
- I love Monero’s integrity.
- Any tips for someone who's DCA money turned in to an alcohol problem during this pandemic?
- Has anyone else noticed the crazy amount of bots and shill posters in different subreddits? Specifically nft/crypto stuff.
- PSA: Do not tell people you own crypto or how much you own
- Nobody is simping to corporations and big banks. Celebrating when they come in is not celebrating them, it's celebrating the financial black hole that is Bitcoin in managing to suck in more of the world's money into the infinite capacity financial battery that its network is.
- Decentralized Digital Rights Management: Why The Future of NFT's Is So Much More Than Overpriced JPEG's and Video Basketball Cards
- 5 types of Altcoholics
| Daily Discussion - April 3, 2021 (GMT+0) Posted: 02 Apr 2021 05:00 PM PDT Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating. Disclaimer:Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules:
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| Cashing out tonight because I finally met my goal of buying a house! Posted: 02 Apr 2021 04:53 PM PDT I have been a crypto investor since 2017 but only took it serious over the last year. Up until last July I have always been a McDonald's manager. I was the fix it manager sent into problem stores to change how they operate to make profit targets. I made garbage wages, was treated like garbage, and I felt like garbage. In 2014 I went back to school to study an engineering technology diploma and then last year went back again to take an advanced diploma in Ocean Technology. I got my dream job making better money. With my first few paychecks I put $100 into Ethereum. I continued until October until I had invested $1500 (Canadian) and I sat on it until now. As of tonight between investing in gamestop and my cryptocurrency investments I have enough for a large down-payment on a house and enough for lawyers fees and moving fees. We have placed an offer in on a great house and we close the deal on May 4th. I want to thank the cryptocurrency community for keeping me strong when I felt like I was about to lose it all and for also reminding me that taking profits is okay. I believe in Ethereum and cryptocurrency as a whole and I have no doubt I could make more money. But, I have met my goal and it is time for me to take profits. [link] [comments]  | ||
| Posted: 02 Apr 2021 01:13 PM PDT Okung asked for half of his $13 million contract for 2020 to be paid in Bitcoin, and the Carolina Panthers were able to make it happen. Here's some quotes from the article. Sauce at the bottom. "If we are looking at where Bitcoin is at now, Okung could be considered one of the highest salaried NFL players at this moment." "For instance, when BTC hit $44k, the half of his contract that is paid in BTC climbed to $10.59 million, at $56k+ his half turned into more than his entire quoted salary. As far as 2020 NFL salary stats are concerned, Okung has entered the top five position. However, the NFL has recently decided to cap the league's salaries at $180 million and a ball player's contract could change in 2021. Because the Carolina Panthers' offensive tackle (OT) gets half of his salary in BTC, many proponents think of him as the highest-paid player in the NFL and not just ahead of the highest-paid OTs." "Money is more than currency; it's power," said Okung in a statement. "The way money is handled from creation to dissemination is part of that power. Getting paid in bitcoin is the first step of opting out of the corrupt, manipulated economy we all inhabit." "Okung went further into that statement adding: 'When we are all paid in bitcoin, no one can tell us what to do with the value we create … In a post-fiat world, you won't have to worry about your labor and time being stolen." Now that the NBA has a NFT and a blockchain advisory committee, I wanted to remind everyone that this happened. These are two very big organizations that are getting on board with crypto. We're getting closer to mass adoption! [link] [comments]  | ||
| Posted: 03 Apr 2021 01:20 AM PDT The whole crypto global market cap just surpassed $2T USD!!! What coins are you buying in celebration? What coins do you think will get dumped? Are we still early in the bull run? Will there be a dip soon? All I know is that I was here and I was hodling when we passed this milestone. To another $1T and beyond! [link] [comments]  | ||
| Delete Robinhood (if you still haven’t) Posted: 02 Apr 2021 11:51 AM PDT Please Delete Robinhood! Don't wait for the next disaster. It's a scam broker! You don't own your crypto on Robinhood. Robinhood makes millions selling your pre-market order info stock trades to the Citadel and Wall Street. They will do same to BTC as they are doing now to the people holding stock shares... Citadel hedge funds CEO is a shadow owner/member of the Robinhood broker. Lead trader at Citadel is Jeffrey Psaki, portfolio manager Citadel LLC is Jen Psaki White House Press Secretary brother. Use Degiro for EU, Fidelity for the USA or any other safe platform. You can imagine how many years they scammed ordinary people whose call for help nobody has noticed until now, if it wasn't for the voice of 6 million Redditors we would probably never know about it and Robinhood would continue to cheat and scam people. Wall Street corporations cannot limit public access to the free market, nor should they censor discussion surrounding it, particularly for their own benefit. This apparent coordination between hedge funds, trading platforms, and web servers to shut down threats to their market dominance is shockingly unprecedented and wrong. It stinks of corruption! Multiple brokerages blocked the ability of small investors to buy more GameStop and other stocks..., is it Bitcoin next?! Robinhood even restricted trading in cryptocurrencies, citing "extraordinary market conditions" Report and Request from iTunes and Android to remove the scam application from their store after you leave a bad review. *** Angry traders swarmed the app's Google reviews page, only for Google to remove hundreds thousands of negative ratings on Friday the 29/01/21. A class action lawsuit against Robinhood was filed with the Securities and Exchange Commission on Thursday. Attorneys-general of New York and Texas are reportedly looking into Robinhood and other companies over their conduct in limiting stock buys.*** Bankrupt Robinhood! Give a lesson to the future Scammer to be Brokers. When Robinhood goes IPO, don't buy. Don't even buy Coinbase for that matter. I should note that if you have a Robinhood Crypto account, crypto is not included under their SIPC protection. This means that 100% of whatever balances you might haven in the crypto account could potentially be lost and not recovered during a bankruptcy. You can also not move your crypto off of Robinhood of PayPal. They are rehypothicating the assets and you don't own them, just a paper copy. Not your keys, not your crypto! Power to the people! Sorry for the repost, but we need to remind people before the next disaster. This group is over 2 million members and it is our responsibility to help the noobs. [link] [comments]  | ||
| ADA shills saying “cARdAno iS 100% dECenTrALisEd” are being dishonest and misleading. Posted: 02 Apr 2021 06:17 PM PDT I want to preface this by saying I am heavily invested in ADA and love Cardano's ethos and mission. But I also appreciate honesty and don't like misleading hype news. If you believe in the fundamentals, lies and hype are not required. Everyone but newbies know De-centralized nodes is not enough for network de-centralization. Full decentralization happens once governance is implemented. Stop changing the definition to fit your narrative. The majority of development is done by a single team (IOHK/IOG) who have full governance control and are on Charles Hoskinson's payroll. Most crypto projects launch with D=0 from day one (ie. Bitcoin). So achieving D=0 isn't a cause for celebration, it's a concern that it was launched in a fully centralised way in the first place, and I'm glad it's solved now. Bottom line is, those who own ADA validate the network transactions and control the votes. Who owns the ADA supply? Can anyone provide a good analysis showing that the supply is well distributed among a large number of individuals, and not massively controlled by a small group of people? Edit : I find it hilarious that the biggest argument against this post in the comments is "FUD" or "ETH maxi circlejerk". How about actually engaging with the arguments I have put forward in the post and perhaps have some constructive conversation? Point me to sources that would say I'm wrong? The name-calling just weakens your stance and makes you look insecure. [link] [comments]  | ||
| Polkadot (DOT) has quietly overtaken Cardano (ADA) in market cap. Posted: 02 Apr 2021 11:42 AM PDT It's been quite interesting to follow these two coins, as they were both started by Ethereum founders, and both seek to solve problems those founders had with ETH 1.0. Polkadot has been rolling out new features and recently Acala has won a parachain slot. Its price has been inching closer and closer to $40 though I suspect it there will be quite a selloff at that point. Meanwhile, ADA has been holding steady at around $1.20 for the entire month of March. A re-accumulation phase, perhaps? They are promising smart contracts soon, however. Disclaimer: I don't think Crypto is a zero-sum game. There's room for every coin to be a winner. I also don't think either of these coins are Ethereum killers, that's just shill talk. It's just an exciting time to watch both DOT and ADA try to position themselves while ETH 2.0 is not too far off. [link] [comments]  | ||
| It is very easy to make your own token. It is incredibly easy to go out and shill it. Be careful. Posted: 03 Apr 2021 01:49 AM PDT This is more aimed at the newer crypto investors, especially the ones who use TikTok, Twitter, and Instagram for crypto news/advice. I am studying computer science at uni, but I am by no means an expert on anything to do with cryptocurrency creation. Nevertheless, in around 20 minutes. I made my own token, launched it on the Ethereum testnet, and started sending it between wallets etc. It would not have any true functionality, but it wouldn't need any. Anyone can do this with very basic programming skills. If I wanted to, I could now very easily do this on the mainnet - just pay some ETH fees, set up an ICO, and pay some crypto influencers a relatively small fee to claim my coin as the next big 1000x investment. I could even make my own tiktok account promoting it, and due to the nature of the algorithm it would not be too hard to reach at least some crypto newbies. Then of course, I get rich, and dump my 50+% of the supply. I am not saying that it is this easy to pump a brand new coin, just that with some marketing luck or even just marketing budget, it's very possible. All this to say, a coin's existence is not proof of technological innovation, usefulness, or even legitimacy as a project. Anyone can make a coin. Anyone can make a quick website for it with some buzzwords. If a coin can't show a specific use case, industry, or new technology, it is probably a shitcoin. Take SAFEMOON as an example, it was pumped heavily on social media, and the price rocketed. Now, there's SAFEMARS, SAFESTAR being churned out, with absolutely no unique uses or functionality. Hope this deters at least one person from buying a total shitcoin they found on social media. [link] [comments]  | ||
| Posted: 02 Apr 2021 07:27 PM PDT
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| Posted: 02 Apr 2021 07:20 PM PDT Ethereum 2.0 will change the security of the network from proof of work (POW, mining) to proof of stake (POS). People can run a validator node to contribute, but you need to stake 32 ETH. If your validator 'behaves', you can earn ETH in the process (somewhere between 5-12% per year). If your node is a bad node, you will get slashed and lose ETH and eventually get expelled from the network. When this system was introduced, the value of ETH was way below 1k USD. With the current increase in value, you now have to stake almost 70k USD to run a node... Can we discuss what that means? Average Joe will have trouble coughing up that much. Will whales control the network? Will centralized services get too much power? Will this be bad for decentralization? Please let me know what you think! Edit: Yes I know that you can stake less than 32 ETH, but then you have to use a service and will not be able to contribute to the security and the decentralization of the network. PS: This post was automatically removed by a bot before, the reason 'no more than 5 posts covering the topic ETH in the top 50'. I think this is a very interesting topic, and the ~20 replies in the 15 minutes before the post got removed shows that there is some interest. [link] [comments]  | ||
| Huge Bitcoin (BTC) investment announced by the New Zealand Pension Fund....Open the flood gates! Posted: 02 Apr 2021 09:43 PM PDT
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| Ether Price Rises Above $2K for First in Six Weeks Posted: 02 Apr 2021 05:02 AM PDT
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| CREEPY: Major Crypto Bull Runs Occur During Major Locust Outbreaks Posted: 02 Apr 2021 07:53 PM PDT It's True, historically whenever Crypto Bull runs get started, Major Locust Swarms occur in Biblical proportions. When the last Bull Run happened, it started boiling up in 2016. That's when a Locust Outbreak started up in Russia NOT SEEN IN DECADES. In the Summer of 2017 when the Crypto Market really started to take off, the Russian Locust outbreak was at its worse, nobody seen anything like it. https://www.vice.com/en/article/ywg4v5/oh-look-russias-annual-plague-of-locusts-is-here. Bull Run of 2013The bull run of 2013 started in the Summer, and peaked out Dec 2013 At the same time it started, Madagascar had a Freakish Locust Outbreak Also NOT SEEN IN DECADES that didn't end until 2014 when the crypto market went bearish. LOCUSTS COVERED 50% OF THE COUNTRY https://en.m.wikipedia.org/wiki/2013_Madagascar_locust_infestation Fast forward to 2020When the Bull run kick started in 2020, East Africa was Severely hit by Major Locusts Swarms, again NOT SEEN IN DECADES. https://www.bbc.com/future/article/20200806-the-biblical-east-african-locust-plagues-of-2020 Locusts swarms are seen as ver biblical because usually they destroy food which in turn makes people starve to death. The swarm in east Africa put 10% of the world's population at risk from starvation. That's why they title the story "A race against time" Either way you look at it, Crypto bull runs seem to be almost in Unison with Major Locust outbreaks, and if you're that type of person who is spiritual or superstitious, you might take this stuff seriously. Either way, still kinda creepy. 3 times in a row. No longer a coincidence. Locusts are bulls too. It's 2021, Species can be Trans-Species, if a locust wants to ride with the bulls...I'm not gonna judge. To each its own. [link] [comments]  | ||
| My DD for Request Network, an ambitious project. Posted: 03 Apr 2021 01:43 AM PDT My DD for Request Network. An undervalued project with ambition that is on steam and is hitting goals on a weekly basis. In shortFrom simple payment requests to fully compliant digital currency invoices. Request helps you to get paid in crypto while providing full control over your financial data. And i'm not going to write out their whole website for you just have a look at https://request.network as they're doing a really good job already, but i'll give you a summation and why i think req is undervalued as is. Also have a look at https://req.network to see KPI's. Some features that have already landed or will land within a month:
Some features being planned for the near future:
Some of the leading innovators and organizations in the decentralized financial (DeFi) ecosystem that either use Request or are partnering with them:
Ambitions for this year:
So why will this ever be worth more OP?
So why is this undervalued OP?Lets see, so first of all the request foundation has around $47M in assets (Ethereum and KNC), they also hold 1/5th of the supply of all tokens which are never used therefore the supply is smaller than it looks like, oh and those tokens are worth around $33M at the time of writing. That means the company itself is worth around $80M YET the market cap is ONLY $160M! thats only twice the foundations worth. They only just started marketing because they do not believe in quick hype and quick coins, they and their investors believe in the product, and now the product is fully usable they're starting marketing and are scaling up, looking for full stack developers at the moment. (apply here if you want: https://request.network/en/career/) Oh so you like mysteries? Ok fine!Users from the Request discord have started noticing a few whale wallets (we call them whallets) starting to buy regular tokens, normally around 80k per buy, do you have any explanation why? I might make another post about this soon. Example of a whallet: https://etherscan.io/token/0x8f8221afbb33998d8584a2b05749ba73c37a938a?a=0x027dff68c06d39e1c274b359c4dc269eb40d2c19 TL;DR: Request is a invoicing network focusing on the DeFi ecosystem, pay with any currency, get paid in the currency you want. Possibly has $80M in their reserve and at the moment of writing only has 2 times that as a market cap 160 Million. [link] [comments]  | ||
| My technical analysis on which AMA host will give you $7 if you ask them Posted: 02 Apr 2021 05:13 PM PDT
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| Grayscale Adds 5.5 Million XLM to Stellar Lumens Trust By CoinQuora Posted: 03 Apr 2021 03:24 AM PDT
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| Posted: 02 Apr 2021 11:13 AM PDT The cryptocurrency ecosystem as a whole was all created to give the people a financial system outside of the scam that is the banking system. Currently, Monero is the ONLY coin that allows its owner to invest without the government's henchmen knowing your every crypto move. Amid all the bullshit Monero has faced;
Monero stood proud and tall. It's a privacy coin and it's NOT ashamed to be so. Privacy isn't a crime and it does not imply criminal activity. There are doors on toilet cubicles for a reason. In addition to its uncompromising privacy, it's DELICIOUSLY decentralised 🥰. I'm bullish for Monero because it has shown integrity like a great soldier who hasn't crumbled and folded under torture. Threats of delisting Monero = The government will be coming for your gains made from surveillance coins and they're big mad that they can't get your Monero gains. It's coin supply is so sexy and deflationary. There's nothing I don't like about it. No weak moves have shaken the project. I will ALWAYS support Monero as long as it stays true to privacy. Thanks for coming to my MON Talk. [link] [comments]  | ||
| Any tips for someone who's DCA money turned in to an alcohol problem during this pandemic? Posted: 02 Apr 2021 11:30 PM PDT I know people don't like sob stories for moons here, but this isn't that. I'm not asking for sympathy or likes, just advice from a community of people whom I believe in. I've been in crypto for a while now, and invested here and there. But, since the pandemic hit in March 2020 I lost my job and have been struggling in finding something else along with taking care of a 1 year old daughter. Unfortunately, drinking has become a regular occurrence and I really can't afford to keep this habit up and invest in crypto like I want to. Is anyone else having this problem or does anyone have any tips to help me through this? Times are tough for a lot of people right now and I sincerely wish the best for all of you. [link] [comments]  | ||
| Posted: 02 Apr 2021 05:12 PM PDT It's really kind of scary. With all these new users, so many businesses', good and bad, have set their eyes on Reddit. I'm seeing the weirdest posts saying "this company's so bad" or "check out this new company:" literally all over Reddit. I've never seen anything like it before and I've used Reddit for a few years now. Is there a solution to this? What do we do going forward? I'm even seeing accounts constantly encouraging others to buy a nft or something and it's obviously fake but it's not hard to use a VPN and comment with multiple accounts [link] [comments]  | ||
| PSA: Do not tell people you own crypto or how much you own Posted: 03 Apr 2021 04:03 AM PDT I have recently been downvoted for saying that you can have all your crypto stolen by someone forcing you to reveal your 12 seed words. Perhaps in more civilized countries robberies and murder for money is not as common but for the rest of us who may not come from places as nice this is a danger. Wallets can be recreated with the 12 "seed" words that are used to recover wallets even when lost. If word goes around that you have a lot of crypto the wrong people might hear about it and decide to pay you a visit. You may not know what those words are, or as someone suggest, offer a secondary wallet up instead of the primary one but that's not fool proof. They might decide to actually kill you after giving the secondary or be smart enough to know there should be more and continue asking you for another wallet. They might receive your primary and straight up assume it's not enough and has to be the secondary. Yes, this is not a problem now for you and your $4,000 in crypto but 4 years from now you will be the guy who talked about bitcoin when it was 20 times (if being generous) less. They won't know if you sold or not and bad actors will assume you've continued adding funds through out that time. Be smart and be safe. Advise family and friends if asked but crypto currencies are big enough now for even your grandmother to have asked you about them. Please keep safe, thank you. [link] [comments]  | ||
| Posted: 02 Apr 2021 07:01 PM PDT
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| Posted: 02 Apr 2021 10:01 PM PDT It's a very exciting time for NFT's or "non-fungible tokens," allowing ownership of provably unique digital assets. There has been an absolute explosion in high-value NFT sales and auctions in recent months for NFT's representing original artistic works, virtual sports memorabilia, historic tweets, and more. NFT's also promise to revolutionize gaming by allowing the players in virtual worlds to obtain, own, trade, and in some cases create and sell, provably rare/unique items and assets that could correspond with real-world monetary value and even be made portable across multiple virtual worlds. So far, the way most people have begun to understand the value of NFT's is via conceptual proxy—developing metaphors in relation what came before, like the metaphor of "digital cash" in the early days of Bitcoin, or more recently "digital gold" as its broadly understood use case has evolved more towards a store of value over the past several years. People see NFT's largely as the digitized form of rare collectibles and original artwork; "digital paintings," "digital sculptures," "digital baseball cards," and perhaps "digital first-edition books signed by their author." Even within the confines of this limited conceptualization, NFT's have driven a gold rush in the crypto investment space. Some expect that this will turn out to be a relatively short-lived speculative mania, while others view their multi-million dollar NFT purchases as investments per se which they fully expect to appreciate in value long into the future the same way an art collector expects an original painting by Goya or Van Gogh to appreciate in value. Skeptics rightly point out that the actual content of any given NFT can be viewed, copied, and distributed limitlessly; believers point out that paintings and other works of art are copied by the million all around the world every year, and the collector within them is content to know they own "the original" as proven by a digital token that only they possess. Speculative mania or not, this is only the tip of the iceberg for the impact that NFT's are bound to have on the world. One nascent application of NFT's can be discerned by realizing that an individual license to "own," or in practice to possess, view, listen to, read, or otherwise engage with a discrete piece of digital content, can take the form of a provably unique digital asset just as easily, and perhaps more meaningfully, than an infinitely replicable piece of digital content itself can. In the long term, NFT's could revolutionize digital rights management for all forms of art, entertainment, and media content, obsolescing centralized content distribution channels and eventually even much of traditional intellectual property law. Imagine every song, film, video, game, software, or other piece of discrete digital content that exists, all hosted in an encrypted state in massive, comprehensive, and easily accessible compendiums on open-source decentralized networks that govern access to specific pieces of content by seamlessly interfacing with a user's NFT wallet, which serves as a platform-agnostic immutable proof of "ownership" (or individual license) for every song, film, etc, that said user might purchase in a lifetime, allowing instant access for streaming on any compatible internet-enabled media device wherever they go, or enabling downloads to their PC or home server in full uncompressed quality for offline viewing—all without any need for traditional clunky and invasive DRM, getting stuck with one or more multiple competing "store" platforms with non-transferrable licenses, or having to pay for multiple ongoing subscription services in order to maintain access to the content you want. Imagine the 'good old days' of BitTorrent, but transmogrified in such a way that is indisputably win-win for both content creators and consumers, while undercutting the dinosaur media conglomerates currently serving as expensive middlemen who syphon value away on both sides by clinging to outdated and inefficient strategies for both distribution and profitmaking. Consumers get the ease of accessing anything they want at any time on any device, and although it's not 'free' as in the case of the illegal file-sharing popular in BitTorrent's hayday, they only have to buy any piece of content once, period. (And at a lower than historical cost.) Content creators large and small benefit too, because everyone who is accessing their content in this way has provably paid to 'own their own copy of it,' plus they no longer have all the overhead (distribution, hosting, licensing, billing, etc) that they are currently forced farm out to large corporations in exchange for 90%+ of the value they create for consumers. They simply get to focus on the creative process and creating value for consumers, perhaps giving up a mere 5-10% to some firm or specialist to help structure and market their NFT releases. No worries about files being altered and reuploaded by malicious actors either, because the NFT's can incorporate a checksum that verifies that the file being downloaded or accessed for streaming is an exact copy of the authorized piece of content originally released by the creator before allowing execution. Rather than individuals needing to anonymously or pseudonymously "seed" individual files and pieces of content to keep them alive on the network at their own expense, in exchange for nothing but 'likes' and risking piracy prosecution in the process, literally anyone in the world can be compensated at the margin for hosting every piece of encrypted, NFT-verified content in existence that they might care to keep a copy of on an internet-connected local drive, similar to how users of Filecoin or Storj or Sia currently elect to make some portion of their local drive(s) available for decentralized cloud storage in exchange for token rewards—only on networks structured by incentives that improve both distribution efficiency and content diversity by dynamically rewarding the hosting of high-demand content in specific areas and the hosting of rare or obscure content based on its relative lack of availability on the network, etc. And they can do this without risk of legal prosecution because they encrypted files are useless in the absence of a matching NFT-based license "key" in the possession of any given recipient to unlock them. While straightforward piracy would remain technically possible (any one person who buys an NFT license to decrypt the official release of a popular film, say, can screen-capture the content and reupload or share it elsewhere), lowered costs and improved ease of access for consumers makes purchasing NFT based licenses for content a competitive option relative to piracy, which most often requires some modicum of technical know-how that will be prohibitive to the general public, and carries legal risks nonetheless. When it's easier and less costly to do "the right thing," more people will, and most consumers do derive some sense of pride or virtue in paying a reasonable sum to support the musicians, film makers, artists, game developers, authors, and content creators whose work they enjoy; we have seen proof of this in the general downtrend of music, film, and television piracy that has accompanied the rise of affordable music and video streaming services, as well as the decline in PC videogame piracy that followed the rise of Valve Corporation's STEAM gaming platform, which sought to compete directly with pirates by offering a permanent game library that users could take with them to any compatible machine, low sale prices, and a number of other value-added features. For those familiar with the STEAM platform, it is in some sense actually a good mental model for imagining part of what is possible in using NFT's for decentralized digital rights management, because it is essentially a "wallet" of unique digital assets (individual, non-fungible lifetime content licenses) that can follow a user wherever they go and is largely machine-agnostic. STEAM, however, is obviously centralized platform, whereas decentralized digital rights management using NFT's could take shape in a combination of any number of open-source decentralized networks hosting encrypted files and media meant to be retrieved and unlocked on demand by their respective NFT license holders, and any number of platform-agnostic software or hardware wallets conforming to the same open-source standards and offering the same core functionality of storing a user's whole lifetime accumulation of NFT-based content licenses in one place. (Picture a STEAM game library, but rather than just all of your PC games in one place: it's all of your PC games, every song you've ever purchased, every movie you've ever purchased, every television show you've ever purchased, every ebook you've ever purchased, every audiobook you've ever purchased, every piece of software you've ever purchased, every lifetime or term membership you've ever purchased to a website or online service—maybe even every membership to brick and mortar business chains you've purchased, and every loyalty program status or non-transferrable points/miles/rewards balance you've accumulated—and certainly every unique virtual item in every virtual game world you've ever obtained—all in one place, that seamlessly interfaces with any compatible network or platform or portal on any applicable internet-connected device or point of service where you'd ever want to access, stream, download, use, or dispose of any of those assets.) Content creators could issue a variety of NFT-based licenses for different forms of their content in a variety of different ways appealing to a variety of different audiences and consumers, utilizing a variety of different strategies for market penetration and serving various levels of scarcity/collectability ranging from mere lifetime 'ownership' to extreme exclusivity. For instance, an established musical act or artist could issue a limited run of a certain number of special NFT licenses for their album's "collector's edition," say 10,000 or 100,000, that sell at a higher price but include a 'B-side' that won't be included in the album's general release (which is also an NFT-based release, but without a limit on how many NFT's will be minted, instead simply minting them on demand whenever a purchase is made)—allowing true aficionados of the band or artist to be able to play those rare hidden B-side gems for friends and family who may otherwise never have been able to hear them, recapturing for the digital age some of the same charm once savored by collectors of rare vinyl records. Beyond a "collector's edition," an act could even do an auction for another 10 or 100 NFT's of the collector's edition album that include a personalized audio dedication recorded by the band/artist that is specific to the buyer's name. On the flipside, an unknown act hoping to break out and placing more focus on audience growth than album sales could do a 'timed freemium' NFT album release, where everyone who downloads the album up until a certain date gets to do so for free and is granted a badged NFT that conveys the same lifetime personal license as the general paid album release to follow a few weeks or months later, incentivizing listeners of that genre to give this new music a try when they otherwise may not have, because A) they know they'll get to own the album for free forever if they do like the band, and B) they'll own an NFT for the album that's badged to indicate that they "liked the band before it was cool," which they can show off on social media and public-facing profiles and playlists, making them look cool while also further helping promote the band's album. Musical acts large or small could issue industry-targeted NFT licenses of their albums or singles for limited or unlimited radio, broadcast, or commercial use of varying types, intended to capture the approximate lifetime value they expect to be generated in mass-market broadcast usage in a one-time purchase cost, or alternatively issue NFT licenses to commercial and broadcast entities that integrate smart contracts written to kick back some portion of the broadcasting entity's advertising revenue to the creator(s) commensurate with the number of views/listens or value otherwise added by playing their music during a broadcast. If a popular artist wanted to have their music licensed for use in film, TV, or commercials, but not to such a degree that it would 'cheapen' the song, they could issue a limited number of commercial NFT licenses for that purpose and auction them off to the highest-paying film makers, studios, producers, etc, or alternatively offer discounted NFT's of the same license category to particular film makers and producers whose artistic or professional gravitas they personally trust, rather than signing all of those decisions and rewards over to a larger company that would dictate those kinds of licensing moves. These are just a few ideas, but apply the logic above for musicians to the production and distribution of film and television, videogames and videogame assets, software, et al, and you can see that the possibilities are virtually endless for the emergence of a new thriving and dynamic global artistic market ecosystem where costs and incentives are far more aligned for consumers and creators alike, enabling massive value creation with a far more equitable distribution of both profits and access to content, and massively lowering barriers to entry for would-be content creators everywhere. Even setting aside the potential future use of NFT's to confirm ownership of physical property, such as deeds to real estate, automobiles, serialized bullion, and priceless unique valuables—or how NFT issuance might one day enable independent designers to be compensated for developing low-cost and/or unique custom CAD files for furniture and other home goods as at-home additive manufacturing appliances become commonplace—it doesn't take a huge amount of imagination to see how decentralized digital rights management via NFT's will be a great leap forward in ushering in the Imagination Age. [link] [comments]  | ||
| Posted: 02 Apr 2021 08:25 AM PDT Yes, I'm talking to you. I am sure, that most of us here are altcoholics without even realizing it. Investing in tons of altcoins in belief, that they will overcome Bitcoin and Ethereum. Most known types
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