Skip to content
 
If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Medium)   Art dealers who use blockchain are ruining everything   (memoakten.medium.com) divider line
    More: Fail, Carbon dioxide, records of the blockchain, NFT drop, average European's entire electricity consumption, Crypto-fanbies, thousands times, much wealth, mining farms  
•       •       •

1482 clicks; posted to Business » on 21 Jan 2021 at 4:35 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



24 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2021-01-21 4:38:26 PM  
You just don't understand the technology.
 
2021-01-21 4:56:59 PM  
Fark user imageView Full Size
 
2021-01-21 5:13:30 PM  
Nope.

/nope
/nope
 
2021-01-21 5:17:25 PM  

Nonrepeating Rotating Binary: [Fark user image 775x775]


So that's a blockchain! I'm no crypto expert but I keep hearing how secure it is, and I would love to learn more. Is the block securing the chain or is the chain securing the block?
 
2021-01-21 5:24:48 PM  
Well, I never thought money launderers would use a tool for money laundering...
 
2021-01-21 6:07:32 PM  
Seems to me that the article is basically "blockchain is ruining everything", art or no art.
 
2021-01-21 6:17:44 PM  

Farkn Yaj Yenrac: Nonrepeating Rotating Binary: [Fark user image 775x775]

So that's a blockchain! I'm no crypto expert but I keep hearing how secure it is, and I would love to learn more. Is the block securing the chain or is the chain securing the block?


They secure each other, as you use the chain to swing the block at any farker dumb enough to try to hack your blockchain.
 
2021-01-21 7:39:57 PM  
So they never really explained what these arts are. Digital pictures or drawings?
 
2021-01-21 7:50:12 PM  

Thenixon: So they never really explained what these arts are. Digital pictures or drawings?


If I'm reading correctly, it has nothing to do with how the art is made, but rather how it's sold.
 
2021-01-21 7:55:57 PM  
Wow this link took me down a rabbit hole. I totally need an $8k pair of socks I do
 
2021-01-21 8:03:50 PM  

Master Passion Greed: Thenixon: So they never really explained what these arts are. Digital pictures or drawings?

If I'm reading correctly, it has nothing to do with how the art is made, but rather how it's sold.


Boink! and Kapow! i don't understand...maybe multiple owners of one unique piece? But the uniqueness isn't in the art, it is in the blockchain attached to the art.
 
2021-01-21 8:07:36 PM  

Master Passion Greed: Thenixon: So they never really explained what these arts are. Digital pictures or drawings?

If I'm reading correctly, it has nothing to do with how the art is made, but rather how it's sold.

The website http://cryptoart.wtf pulls in random blockchain-based CryptoArt from the web, and estimates the ecological impact of each work


I don't think this has anything to with selling crap digital art, as much as it is some form of money laundering, now that Amazon cracked down the $100,000 copies of a paperback book.
 
2021-01-21 8:41:16 PM  
I can tell who didn't read the article, it wasn't actually about art. It's about how how insane the energy costs are to run these programs.

If his numbers are even half wrong, this shiat is gonna get banned real quick when some politician decides to make a career out of it.
 
2021-01-21 8:52:38 PM  

Bathtub Cynic: I can tell who didn't read the article, it wasn't actually about art. It's about how how insane the energy costs are to run these programs.

If his numbers are even half wrong, this shiat is gonna get banned real quick when some politician decides to make a career out of it.


Honestly, blockchains are by definition an inefficient way to store information and stuff like bitcoin increasing the scarcity over time makes it a ton less efficient.

There are things I like about blockchain technology, but the energy usage is one hell of a black mark.
 
2021-01-21 9:59:12 PM  
blockchain is an attempt to do 2 things
1. decentralize security and make it completely portable at the point of the product use
2. make security 'centralized' in a place that isn't necessarily the account/security owner's system

and the result is like the old joke "there is no cloud it's just someone else's computer"

if you have security that someone "owns" then its trivially easy for them to archive records.  its trivially easy for them to provide histories of transactions.
but with blockchain the "owners" are just random people running the app.  and since no particular one is trustworthy you have to send your transaction to a ton of them.  and since you're sending these transaction details to a ton of things your efficiency blows.

but if you're NOT doing the public distributed version and just processing transactions in house then there's no reason to use a blockchain at all.  you're far better off just using regular strong encryption to run each individual transaction.  then, separately, securely storing a history of transactions which can be accessed for reporting.  there's no need to overly complicate the process by tailing the history of transactions INTO every transaction with a blockchain that noone but you can read anyway.
 
2021-01-21 11:32:51 PM  

Bathtub Cynic: I can tell who didn't read the article, it wasn't actually about art. It's about how how insane the energy costs are to run these programs.

If his numbers are even half wrong, this shiat is gonna get banned real quick when some politician decides to make a career out of it.


TFA isn't worth reading. 1, for an article not about art, there are a lot of mentions of art, without any explanation of what art means in this context. Are these digital images using blockchain to track ownership, like stock exchanges track ownership of shares? Is "art" some jargon with some other meaning in this context? I have no idea.

2. The whole "breaking news, nobody knows how wasteful bitcoin in" isn't breaking news when the same article has been coming out weekly for a few years.
 
2021-01-21 11:46:04 PM  
Somebody should calculate the energy usage of playing call of duty and other video games and compare.
 
2021-01-22 12:36:59 AM  

mr0x: Somebody should calculate the energy usage of playing call of duty and other video games and compare.


the difference though is playing call of duty is the end product not the transaction.  which in this case would be the act of looking at the art.

the correct comparison here would be to compare the energy usage of BUYING call of duty with the energy usage of the art purchase blockchain.
 
2021-01-22 1:48:06 AM  
Anyone in this thread realize that 67% of the energy the grid produced last year went to waste?

No?  OK then... carry on...
 
2021-01-22 3:08:42 AM  

TheRealist: Anyone in this thread realize that 67% of the energy the grid produced last year went to waste?

No?  OK then... carry on...


We only spent 33% of the grid on hookers and blow?
 
2021-01-22 4:27:51 AM  

mcmnky: Bathtub Cynic: I can tell who didn't read the article, it wasn't actually about art. It's about how how insane the energy costs are to run these programs.

If his numbers are even half wrong, this shiat is gonna get banned real quick when some politician decides to make a career out of it.

TFA isn't worth reading. 1, for an article not about art, there are a lot of mentions of art, without any explanation of what art means in this context. Are these digital images using blockchain to track ownership, like stock exchanges track ownership of shares? Is "art" some jargon with some other meaning in this context? I have no idea.

2. The whole "breaking news, nobody knows how wasteful bitcoin in" isn't breaking news when the same article has been coming out weekly for a few years.


1. I hadn't heard of NFTs before, and after RTFA I feel like I get (a) what they are and (b) why it's stupid. What's being traded isn't the art itself, but something analogous to an artist's note that says your copy of a digital artwork is special even though the artwork itself is objectively exactly the same one that everyone else has.

2. This is a particularly spectacular example of the wastefulness of blockchain because (unlike, say, tracking shipping containers) it isn't even accomplishing anything functional.
 
2021-01-22 7:06:18 AM  

Jormungandr: Farkn Yaj Yenrac: Nonrepeating Rotating Binary: [Fark user image 775x775]

So that's a blockchain! I'm no crypto expert but I keep hearing how secure it is, and I would love to learn more. Is the block securing the chain or is the chain securing the block?

They secure each other, as you use the chain to swing the block at any farker dumb enough to try to hack your blockchain.


So this could also be used as a chain of command?
Asking for a Jayne.
 
2021-01-22 11:31:04 AM  
2. This is a particularly spectacular example of the wastefulness of blockchain because (unlike, say, tracking shipping containers) it isn't even accomplishing anything functional.

"Trustless" digital rights management. Not possible before blockchain.
 
2021-01-23 3:16:17 AM  
https://opensea.io/collection/oned0t-​1

selling .png's  with one dot on them for ~$1200

/Vasily, one. Ping. Only.
 
Displayed 24 of 24 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking





On Twitter



  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.