The Problem With NFTs
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If someone pitches you on a "great" Web3 project, ask them if it requires buying or selling crypto to do what they say it does.Sources and Further Readinghtt...

This video is unbelievably great.

  • Arthur BesseA
    21·
    3 years ago

    I was almost ready to turn it off during the bitcoin chapter due to his gross misunderstandings/misrepresentations but I’m really glad I stuck with it a few minutes longer to get to the ethereum chapter so I could LOL at his introduction of Vitalik:

    🤣

    I couldn’t make it much further than that though. I’m sort of surprised/disappointed to see Cory Doctorow raving about how great this video is.

  • overflow
    22·
    3 years ago

    1)He talks about nfts not just being digital art but yet he really doesn’t talk about the other uses

    2)Privacy chains exist there also exist optional privacy solutions on transparent ledgers. Majority of people in crypto are speculators so the lack of privacy doesn’t really bother them even outside of crypto people started making some noise when the Snowden papers got released but stopped caring a few weeks after most people just don’t really value about their privacy.

    3)he claims that most daos aren’t really daos without any evidence even if this were true you can obviously choose whether or not to join a dao based on it’s values or lack of

    3)he says daos can only be created by domain experts then goes to clarify that there are template platforms then complains about these template platforms saying they’re bad because it’ll lead back to status quo without really explaining

    4)he talks about how daos can be hacked/have their code fail even though can easily be avoided with code review, formal verification and third party audits same as you can with any other piece of software.

    5)The dao incident happened due to poorly designed smart contract language, no code review and the developers wilfully ignoring all persons who contacted them with information all the errors in their smart contract.

    6)You don’t need to speculate on nfts but many people do because they’re greedy 99% of people in crypto care zero about improving the world and know nothing about why it was created in the first world. A better world could exist but people don’t want to work towards that world most people just want to be exploiters.

    • sexy_peach@feddit.deOP
      3·
      3 years ago

      He talks about nfts not just being digital art but yet he really doesn’t talk about the other uses

      he does though

      he talks about how daos can be hacked/have their code fail even though can easily be avoided with code review, formal verification and third party audits.

      but what if they find new exploits in a couple of years?

      You don’t seem to fully understand the criticisms.

      • overflow
        11·
        3 years ago

        Give me the timestamps of him talking about the other uses in depth.

        How could persons find exploits in code that has already gone through auditing and formal verification? How would that be a criticism specific for smart contracts and not software in general? I don’t think you understand how big of a deal formal verification is it’s literally the highest assurance you can get that your code functions as intended even if somehow a bug manages to escape this thorough process the code is open source so you have the whole developer community looking at the code if somehow this error evades even the community it’d be exploited and have to be fixed but yeah the situation you’re describing is a very very very unlikely one to occur.