Skip to content
Do you have adblock enabled?
 
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.

(Forbes)   Suck it, haters: Adam Neumann's revolutionary residential real estate company will apparently backstop the value of mortgage-backed securities with ugly ape jpegs on the blockchain, or something   (forbes.com) divider line
    More: Cool, Recruitment, Property management, Venture capital, Real estate, Money, Startup company, Computer aided facility management, Property  
•       •       •

454 clicks; posted to Business » on 18 Aug 2022 at 8:18 AM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



51 Comments     (+0 »)
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | » | Newest | Show all

 
2022-08-18 1:01:57 AM  
dfjc3etzov2zz.cloudfront.netView Full Size
 
2022-08-18 6:54:19 AM  
Wow, a crypto wallet.  How revolutionary.  Sell the house, and get in on the ground floor here!  It can't possibly miss.
 
2022-08-18 7:32:58 AM  
So, they're expecting to lose money, and figure that this is a great way to cover that loss?
 
2022-08-18 8:22:23 AM  
preview.redd.itView Full Size
 
2022-08-18 8:23:44 AM  
"Flow" is gonna use blockchain technology to disrupt the tampon industry.
 
2022-08-18 8:33:12 AM  
Davidson Goldin, a spokesperson for Flow, said the planned digital wallet cannot be used to make rental payments for Flow-managed apartments using cryptocurrency it may store, but can be used for outside purchases like any other wallet.

Hilarious.  They've created a wallet to store currency that they won't accept, but that you can hopefully get someone else to accept.

When I saw Andreesen Horowitz, I should have known it was crypto.  They keep raising capital from outside investors (it's not their money) to invest in crypto startups that will change the world or whatever.  In this case, it's just a property management company, but it's got crypto so... to the moon!

"Adam is building a next generation multi-family property management system with a proprietary payment system," adding that the system "will include a full financial services wallet, a tokenized reward program and crypto payment methods."

Property management, plus a wallet to hold crypto that they won't accept, plus a tokenized reward program, which is a way of saying credit card rewards, but on the blockchain which provides no value to the user, but it's got blockchain.
 
2022-08-18 8:33:12 AM  
I look forward to "I'm homeless because somebody dressed as a monkey stole my money."
 
2022-08-18 8:37:13 AM  
Fark user imageView Full Size


Black queen wins the green, step up and find the lady, easy money, easy money, find the lady
 
2022-08-18 8:38:56 AM  

HotWingConspiracy: [Fark user image 296x170]

Black queen wins the green, step up and find the lady, easy money, easy money, find the lady


Cryptobros be like.
frinkiac.comView Full Size
 
2022-08-18 8:57:23 AM  

Rapmaster2000: Davidson Goldin, a spokesperson for Flow, said the planned digital wallet cannot be used to make rental payments for Flow-managed apartments using cryptocurrency it may store, but can be used for outside purchases like any other wallet.

Hilarious.  They've created a wallet to store currency that they won't accept, but that you can hopefully get someone else to accept.

When I saw Andreesen Horowitz, I should have known it was crypto.  They keep raising capital from outside investors (it's not their money) to invest in crypto startups that will change the world or whatever.  In this case, it's just a property management company, but it's got crypto so... to the moon!

"Adam is building a next generation multi-family property management system with a proprietary payment system," adding that the system "will include a full financial services wallet, a tokenized reward program and crypto payment methods."

Property management, plus a wallet to hold crypto that they won't accept, plus a tokenized reward program, which is a way of saying credit card rewards, but on the blockchain which provides no value to the user, but it's got blockchain.


Blockchain has what plants crave.
 
2022-08-18 8:58:15 AM  
I just want to point out how a 2019 episode of "South Side" satirized how crypto is inexplicably part of every new business venture, and as over the top the episode was at the time, it now seems quaint compared to this crap.
 
2022-08-18 9:02:41 AM  
Given that they complain about renters not having equity and this is the WeWork guy, I bet this whole scheme is selling time shares.
 
2022-08-18 9:08:09 AM  
Davidson Goldin, a spokesperson for Flow, said the planned digital wallet cannot be used to make rental payments for Flow-managed apartments using cryptocurrency it may store, but can be used for outside purchases like any other wallet.

Fark user imageView Full Size
 
2022-08-18 9:13:54 AM  

thornhill: Given that they complain about renters not having equity and this is the WeWork guy, I bet this whole scheme is selling time shares.


y.yarn.coView Full Size
 
2022-08-18 9:39:34 AM  
If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.
 
2022-08-18 10:10:26 AM  
It's like a carnival of farking stupid. These guys are so busy sniffing each other's farts that they have lost touch with reality.
 
2022-08-18 10:16:54 AM  
Don't drink any Kool-Aid or Flavor-Aid the cultist is giving you.
 
2022-08-18 10:17:55 AM  
Web3 is going great!
 
2022-08-18 10:49:28 AM  
Fark user imageView Full Size
 
2022-08-18 12:14:05 PM  

Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.


Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.
 
2022-08-18 12:14:53 PM  

wax_on: It's like a carnival of farking stupid. These guys are so busy sniffing each other's farts that they have lost touch with reality.


Bruh. Once trading was allowed in index futures, capitalism became completely disconnected from reality.
 
2022-08-18 12:52:57 PM  

DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.


Fark user imageView Full Size



Post is a parody of this. Which is not an intentional parody.
 
2022-08-18 1:07:07 PM  
The underlying tech has a ton of potential. It's a shame that it got associated with stupid jpeg apes first. It's, at its core, digital provenance that's not reliant on some third company to prove that it's yours.

I suspect that, when the tech becomes more useful, people that rant about NFTs now will be saying 'But, no, I'm not using an NFT. I'm using a 'insert new term for it here' so I get free stuff when I go watch my favorite baseball team' and stuff...
 
2022-08-18 1:13:14 PM  

sirrerun: DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.

[Fark user image 425x464]


Post is a parody of this. Which is not an intentional parody.


Oh my.  She actually did it and sold it for $15,000 about a year ago.

Tascha-Labs
The World's 1st Destroyed Diamond NFT: Who, What, When, Where, Why & How
In August 2021, I relocated and realized how much hassle there was to keep your valuable jewelries safe when moving. None of this trouble would exist, I thought, if the store-of-value function of these jewelries is transferred to a digital asset.
That thought inspired me to post this tweet: https://twitter.com/RealNatashaChe/status/1429576700346748938?s=20
Little did I expect the tweet to go viral and attract legions of haters. Some people were really upset. I was called all sorts of names.
I decided I needed to do this exercise for real. So I went and bought a real diamond for $5k-> destroyed it-> minted a NFT for the diamond. I wanted to see how much value the NFT retains.
Many don't understand why this exercise would work, including my mother who is a savvy investor and an accountant for 30 years. I had a long debate with her, which I wrote about here (https://taschalabs.com/nft-is-better-than-diamond-heres-why/).

But my basic idea is that a physical asset like a diamond has value because of two functions:
1/ physical utilities function 2/ asset function as a store-of-value (SoV)
When you destroy a diamond and create a NFT in its place, you transfer function #2 to the NFT. Since by destroying the diamond, the 1-to-1 mapping between diamond and NFT is cemented, the NFT should retain the SoV part of the diamond's value.

A NFT can serve the role as a SoV, because it's able to satisfy 3 basic criteria for something to qualify as an "asset":
1/ durability 2/ limit on supply 3/ social agreement

I also think overtime NFTs will replace physical assets like diamond and real estates, because NFTs are a much more user-friendly asset class for holding and transacting, compared to physical assets.
I explained all the above in more details in this video here (https://youtu.be/rKJNl0lbwUg).
I also estimated how much value the destroyed-diamond NFT should retain, by separating the values of the diamond's two functions, and adding the NFT's liquidity premium. See the breakdown here (https://taschalabs.com/how-to-price-a-nft-backed-by-a-physical-asset/).
There's so much confusion about NFTs and their role as an asset class. Because it's challenging people's traditional assumptions about what assets are and how they work.
I hope this NFT project helps you challenge your own mental framework as well and understand NFT more. Digital assets replacing physical ones is an inevitable trend of this century. You cannot afford to not understand it.
Tascha's Destroyed Diamond NFT Timeline
Tue, Aug 24 2021, 5:38 PM EST: Diamond purchased on Blue Nile for $4999
Product page on Blue Nile: https://www.bluenile.com/diamond-details/LD15766346 Purchase video: https://youtu.be/rSa1kJ5FI0A Purchase receipt: https://taschalabs.com/wp-content/uploads/2021/08/Picture1-4.png GIA certificate: https://taschalabs.com/wp-content/uploads/2021/09/Gia-report.png
Mon, Aug 30 2021, 10:40 AM EST: Diamond delivered by FedEx to Tascha's house
Delivery and unboxing video: https://youtu.be/0ZwucY9iC6M
Tue, Aug 31 2021, 6:13 PM EST: Diamond destroyed at Modern Auto Body Auto Service Center in Falls Church, Virginia
Diamond destroying process video: https://youtu.be/anzyEtqfA98 Destroying location: https://taschalabs.com/wp-content/uploads/2021/09/auto-shop-where-diamond-destroyed-scaled.jpg Relics of diamond and its GIA certificate paper: https://taschalabs.com/wp-content/uploads/2021/09/diamond-corpse-1-1-scaled.jpg
Relevant Resources
FAQ video: https://youtu.be/rKJNl0lbwUg
Youtube playlist: https://www.youtube.com/playlist?list=PLYf5fYPJnU2zLmWDuXQLjQ8AKiXCsYCFy
Twitter thread documenting the project: https://twitter.com/RealNatashaChe/status/1430248952818028544?s=20



These people are either liars or deluded.  If an NFT can replace a diamond, then why can't the diamond certificate of authenticity, which is already a non-fungible token, be worth the same a diamond?

It's rather simple.  You can't wear the NFT around your neck and make other people jealous.  That's the value of a diamond.  It's pretty and it's expensive.  It's not valuable because it's rare.  Diamonds aren't even rare.
 
2022-08-18 1:18:12 PM  
Davidson Goldin, a spokesperson for Flow, said the planned digital wallet cannot be used to make rental payments for Flow-managed apartments using cryptocurrency it may store, but can be used for outside purchases like any other wallet.

So they want you to store crypto but won't accept it?
 
2022-08-18 1:30:42 PM  

GriffXX: The underlying tech has a ton of potential.


Most actual computer scientists would disagree. There are better solutions for nearly every use case. Except crime. Blockchain excels at facilitating crime.
 
2022-08-18 1:37:20 PM  

sirrerun: DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.

[Fark user image 425x464]


Post is a parody of this. Which is not an intentional parody.


Holy shiat! Someone actually posted that?!?

So the inevitable conclusion is that if I take a photo of the Mona Lisa it's the same as owning it.
 
2022-08-18 2:01:09 PM  

sirrerun: GriffXX: The underlying tech has a ton of potential.

Most actual computer scientists would disagree. There are better solutions for nearly every use case. Except crime. Blockchain excels at facilitating crime.


Agree to disagree, I guess. All the computer scientists I've been following are brainstorming about the potential of what's in its infancy right now.

The latest reports I read said that in 2020 less than 1% of all crypto transactions were criminal related (it's a Trillion Dollar industry at this point) - laundered cash is skill king for criminals. Nation states have gotten very good at tracking blockchain transactions so criminals have moved to a niche of tiny coins that are super-private (like Monero) or simply use cash. It's why the IRS has a bounty to anyone that can crack Monero - but there are plenty of projects that have a coin to support a product/service that are absolutely viable.
 
2022-08-18 2:27:42 PM  
Rapmaster2000:
These people are either liars or deluded.  If an NFT can replace a diamond, then why can't the diamond certificate of authenticity, which is already a non-fungible token, be worth the same a diamond? It's rather simple.  You can't wear the NFT around your neck and make other people jealous.  That's the value of a diamond.  It's pretty and it's expensive.  It's not valuable because it's rare.  Diamonds aren't even rare.

The big point here seems to have gone by you.  NFTs which have no intrinsic value are perfectly suited to replace real items without intrinsic value.

/in other words, it works for gem diamonds only because the gem diamond economy is artificial
 
2022-08-18 2:30:31 PM  

GriffXX: what's in its infancy right now.


It's been around for 15 years.  Is this really its infancy?
 
2022-08-18 2:41:06 PM  
Rapmaster2000:

Oh my.  She actually did it and sold it for $15,000 about a year ago.

It's a one off, she got one of her buddies to pay for it or bought it herself through a proxy just to prove that she isn't an idiot. There's not going to suddenly be a market for NFTs of destroyed diamonds.

It's weird when the shills are in on the grift.

/she's still an idiot.
 
2022-08-18 2:43:07 PM  

wax_on: sirrerun: DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.

[Fark user image 425x464]


Post is a parody of this. Which is not an intentional parody.

Holy shiat! Someone actually posted that?!?

So the inevitable conclusion is that if I take a photo of the Mona Lisa it's the same as owning it.


Put that photo on the blockchain and it's even more valuable than you can possibly imagine.

Because fire can't destroy it!
 
2022-08-18 2:47:00 PM  

Rapmaster2000: GriffXX: what's in its infancy right now.

It's been around for 15 years.  Is this really its infancy?


Bitcoin has been around for years. These new alt-coins that have actual utility (outside of 'sell it to the next schmuck for a profit') are pretty new. They'll have an actual product/service, proven leadership, often VC funding - it's like the dot-com days all over again.

You don't hear about them much yet because crypto-heads that want 1000x call them 'boomer coins' because they're actual businesses. Traditional investors are too busy shouting 'ponzi!' and 'tulips' to even take a look. But they're there.
 
2022-08-18 3:04:04 PM  

GriffXX: They'll have an actual product/service, proven leadership, often VC funding


Just a reminder, WeWork was an actual product service with proven leadership and VC funding.

It was just office space and a lot of hype.
 
2022-08-18 3:38:56 PM  
Don't look now but Peter Thiel is teaming up with another villainous CEO to do pretty much the same thing.
 
2022-08-18 3:42:10 PM  

Rapmaster2000: GriffXX: They'll have an actual product/service, proven leadership, often VC funding

Just a reminder, WeWork was an actual product service with proven leadership and VC funding.

It was just office space and a lot of hype.


Totally agree. There's a ton of fluff, just like the dot-com days with millions being thrown around at an idea that, in hindsight, wasn't going to work.

My point is that still a ton of people think 'crypto' is 'bitcoin' and it's evolved way beyond that - and there are some viable ideas out there slowly gaining traction.
 
2022-08-18 4:12:42 PM  

GriffXX: These new alt-coins that have actual utility (outside of 'sell it to the next schmuck for a profit') are pretty new. They'll have an actual product/service, proven leadership, often VC funding - it's like the dot-com days all over again.


Wow, look at all those examples you're citing.  So many examples.
 
2022-08-18 4:32:29 PM  
 
2022-08-18 5:18:14 PM  

Olympic Trolling Judge: GriffXX: These new alt-coins that have actual utility (outside of 'sell it to the next schmuck for a profit') are pretty new. They'll have an actual product/service, proven leadership, often VC funding - it's like the dot-com days all over again.

Wow, look at all those examples you're citing.  So many examples.


Ok, I'll paste from another thread a few that are pretty easy to understand (sheesh, I forgot how sarcastic fark was) :

Filecoin - if you want cloud storage without a monster like Amazon keeping you to it's censorship rules. (There are other reasons too, but the 'free speech' people seemed to have particularly glommed onto it.)

Basic Attention Token - if you want a privacy-preserving browser that pays you to see ads instead of paying Google.

Gala - if you like their plan to have a platform that pays artists and rewards fans for games, music, and video.

Splintershards - if you like Magic the Gathering style card games and are good at them.
 
2022-08-18 5:28:03 PM  

GriffXX: Olympic Trolling Judge: GriffXX: These new alt-coins that have actual utility (outside of 'sell it to the next schmuck for a profit') are pretty new. They'll have an actual product/service, proven leadership, often VC funding - it's like the dot-com days all over again.

Wow, look at all those examples you're citing.  So many examples.

Ok, I'll paste from another thread a few that are pretty easy to understand (sheesh, I forgot how sarcastic fark was) :

Filecoin - cloud storage BUT WITH BLOCKCHAIN!

Basic Attention Token - web browsing BUT WITH BLOCKCHAIN!

Gala - Steam BUT WITH BLOCKCHAIN!

Splintershards - Magic: The Gathering BUT WITH BLOCKCHAIN!

 
2022-08-18 5:44:10 PM  

Olympic Trolling Judge: GriffXX: Olympic Trolling Judge: GriffXX: These new alt-coins that have actual utility (outside of 'sell it to the next schmuck for a profit') are pretty new. They'll have an actual product/service, proven leadership, often VC funding - it's like the dot-com days all over again.

Wow, look at all those examples you're citing.  So many examples.

Ok, I'll paste from another thread a few that are pretty easy to understand (sheesh, I forgot how sarcastic fark was) :

Filecoin - cloud storage BUT WITH BLOCKCHAIN!

Basic Attention Token - web browsing BUT WITH BLOCKCHAIN!

Gala - Steam BUT WITH BLOCKCHAIN!

Splintershards - Magic: The Gathering BUT WITH BLOCKCHAIN!


Ah. You're one of those. Let me guess - you don't know how smart contracts work so have no idea of the possibilities that are opening up now that blockchain isn't just a 'ledger'.
 
2022-08-18 5:49:51 PM  

GriffXX: Ah. You're one of those. Let me guess - you don't know how smart contracts work so have no idea of the possibilities that are opening up now that blockchain isn't just a 'ledger'.


Ah yes.  Smart contracts.  Malware written to execute "on the blockchain", so you can instantly and conveniently have all your money and/or apes stolen.
 
2022-08-18 5:56:02 PM  

Olympic Trolling Judge: GriffXX: Ah. You're one of those. Let me guess - you don't know how smart contracts work so have no idea of the possibilities that are opening up now that blockchain isn't just a 'ledger'.

Ah yes.  Smart contracts.  Malware written to execute "on the blockchain", so you can instantly and conveniently have all your money and/or apes stolen.


Heh, your ignorance is showing.

Man, are you gonna be bummed when you find out how many people click malicious links in emails that install malware. Email is definitely stupid and we should go back to paper letters. :)
 
2022-08-18 6:14:38 PM  

GriffXX: Olympic Trolling Judge: GriffXX: Ah. You're one of those. Let me guess - you don't know how smart contracts work so have no idea of the possibilities that are opening up now that blockchain isn't just a 'ledger'.

Ah yes.  Smart contracts.  Malware written to execute "on the blockchain", so you can instantly and conveniently have all your money and/or apes stolen.

Heh, your ignorance is showing.

Man, are you gonna be bummed when you find out how many people click malicious links in emails that install malware. Email is definitely stupid and we should go back to paper letters. :)


There are precautions that can be taken with email and other online protocols.  Not running executable code from untrusted sources, for example.  But the whole point of blockchain is to be trust-less, to make no distinction between Visa Inc. and xXNotAHacker1488Xx.

And should malicious code slip through, there exist established procedures to undo, mitigate, or recover from the damage.  But blockchain, by design, specifically forecloses this possibility.  Once I<3Putin has your money, it's gone, man, unless you can convince 51% of the governing authority to roll back the offending transaction.
 
2022-08-18 6:29:10 PM  
You're downplaying 'traditional' tech vulnerabilities and misrepresenting web3 vulnerabilities - I'm starting to think on purpose. If you look at the state of data breaches and ransomware - there's MANY cases where they weren't able to 'undo, mitigate or recover from the damage.' In addition, there are 'precautions that can be taken' with your web3 wallet just like anything else. It's not that difficult.

Sorry - I'm done. I have to limit myself to people that are knowledgeable about the tech or at least curious. You've clearly made up your mind and are using assumptions that are years old.

Later
 
2022-08-18 8:07:29 PM  

GriffXX: Later


Bye!  SFYL!
 
2022-08-18 8:17:35 PM  

Olympic Trolling Judge: GriffXX: Later

Bye!  SFYL!


That's the fastest I've seen a crypto bro work through the 'ackshually, you just don't understand' spiel.

Teach us your speedrunning ways, sensei!
 
2022-08-18 10:02:58 PM  

DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.


Woooosh
 
2022-08-18 10:23:20 PM  

Rapmaster2000: sirrerun: DanInKansas: Olympic Trolling Judge: If you make an NFT of a real apartment, and the apartment itself gets destroyed in a fire tomorrow, you still have the same asset.  Because the token still exists and is in limited supply just as before.  Nothing has changed.

What NFT is doing to the concept of real estate, few understand.

Except someone doesn't have a place to live and there's no incentive to rebuild the apartment or get them back in quickly because late stage capitalism.

[Fark user image 425x464]


Post is a parody of this. Which is not an intentional parody.

Oh my.  She actually did it and sold it for $15,000 about a year ago.

Tascha-Labs
The World's 1st Destroyed Diamond NFT: Who, What, When, Where, Why & How
In August 2021, I relocated and realized how much hassle there was to keep your valuable jewelries safe when moving. None of this trouble would exist, I thought, if the store-of-value function of these jewelries is transferred to a digital asset.
That thought inspired me to post this tweet: https://twitter.com/RealNatashaChe/status/1429576700346748938?s=20
Little did I expect the tweet to go viral and attract legions of haters. Some people were really upset. I was called all sorts of names.
I decided I needed to do this exercise for real. So I went and bought a real diamond for $5k-> destroyed it-> minted a NFT for the diamond. I wanted to see how much value the NFT retains.
Many don't understand why this exercise would work, including my mother who is a savvy investor and an accountant for 30 years. I had a long debate with her, which I wrote about here (https://taschalabs.com/nft-is-better-than-diamond-heres-why/).
But my basic idea is that a physical asset like a diamond has value because of two functions:
1/ physical utilities function 2/ asset function as a store-of-value (SoV)
When you destroy a diamond and create a NFT in its place, you transfer function #2 to the NFT. Since by destroying the diamond, the 1-to-1 mapping between diamond and NFT is cemented, the NFT should retain the SoV part of the diamond's value.
A NFT can serve the role as a SoV, because it's able to satisfy 3 basic criteria for something to qualify as an "asset":
1/ durability 2/ limit on supply 3/ social agreement
I also think overtime NFTs will replace physical assets like diamond and real estates, because NFTs are a much more user-friendly asset class for holding and transacting, compared to physical assets.
I explained all the above in more details in this video here (https://youtu.be/rKJNl0lbwUg).
I also estimated how much value the destroyed-diamond NFT should retain, by separating the values of the diamond's two functions, and adding the NFT's liquidity premium. See the breakdown here (https://taschalabs.com/how-to-price-a-nft-backed-by-a-physical-asset/).
There's so much confusion about NFTs and their role as an asset class. Because it's challenging people's traditional assumptions about what assets are and how they work.
I hope this NFT project helps you challenge your own mental framework as well and understand NFT more. Digital assets replacing physical ones is an inevitable trend of this century. You cannot afford to not understand it.
Tascha's Destroyed Diamond NFT Timeline
Tue, Aug 24 2021, 5:38 PM EST: Diamond purchased on Blue Nile for $4999
Product page on Blue Nile: https://www.bluenile.com/diamond-details/LD15766346 Purchase video: https://youtu.be/rSa1kJ5FI0A Purchase receipt: https://taschalabs.com/wp-content/uploads/2021/08/Picture1-4.png GIA certificate: https://taschalabs.com/wp-content/uploads/2021/09/Gia-report.png
Mon, Aug 30 2021, 10:40 AM EST: Diamond delivered by FedEx to Tascha's house
Delivery and unboxing video: https://youtu.be/0ZwucY9iC6M
Tue, Aug 31 2021, 6:13 PM EST: Diamond destroyed at Modern Auto Body Auto Service Center in Falls Church, Virginia
Diamond destroying process video: https://youtu.be/anzyEtqfA98 Destroying location: https://taschalabs.com/wp-content/uploads/2021/09/auto-shop-where-diamond-destroyed-scaled.jpg Relics of diamond and its GIA certificate paper: https://taschalabs.com/wp-content/uploads/2021/09/diamond-corpse-1-1-scaled.jpg
Relevant Resources
FAQ video: https://youtu.be/rKJNl0lbwUg
Youtube playlist: https://www.youtube.com/playlist?list=PLYf5fYPJnU2zLmWDuXQLjQ8AKiXCsYCFy
Twitter thread documenting the project: https://twitter.com/RealNatashaChe/status/1430248952818028544?s=20


These people are either liars or deluded.  If an NFT can replace a diamond, then why can't the diamond certificate of authenticity, which is already a non-fungible token, be worth the same a diamond?

It's rather simple.  You can't wear the NFT around your neck and make other people jealous.  That's the value of a diamond.  It's pretty and it's expensive.  It's not valuable because it's rare.  Diamonds aren't even rare.


And the best part, some moron on 9/11/2021 dropped a little over 5.5 Eth. on the damned thing. That was approximately $18,740. For a gif of a rotating diamond. They haven't relisted on Open Sea, so, there is no real measure of value in today's market. Just the one historical transaction. That thing may have that value to the one owner, but that'll change based on other real world factors. These people are morons.
 
2022-08-19 12:25:46 AM  

Hawk the Hawk: Olympic Trolling Judge: GriffXX: Later

Bye!  SFYL!

That's the fastest I've seen a crypto bro work through the 'ackshually, you just don't understand' spiel.

Teach us your speedrunning ways, sensei!


Computer science background.  I've been fascinated by this stuff since I was a little kid, reading the Time-Life Understanding Computers books my parents got as a gift.  (Grandpa was an old-school computer guy, working on mainframes for American Sunroof in, like, the '60s or '70s.)  I was learning about Turing machines and writing Scheme programs in middle school.  To this day, I have a fondness for combinatory logic that is best described as "creepy".  I studied "the technology" because it's precisely the kind of weird shiat I'm into, and I understand "the technology" because I understand the theory underlying the technology.

And on an academic level, I totally respect what crypto is trying to do.  Decentralized consensus is Hard with a capital "fark you".  For all the grief we (rightly) give Bitcoin for melting the goddamn ice caps, it's not clear that there is a better solution on the table.  Most altcoins have an underlying layer of centralized governance to keep their shiat from hitting the fan, so other algorithms haven't really been field-tested the way PoW has.  In fact, the whole Terra/LUNA fiasco inadvertently exposed the vulnerability of PoS in particular.  But if we grant that all these things really do work, they still involve a shiat-ton of overhead, overhead that can only be justified if there is a truly killer app on the other side.  And with the exception of certain highly illegal activities, that does not obtain.  All we get is "the same shiat you can do with centralized systems, but slightly worse" or "the same shiat as centralized systems, but a hell of a lot worse".  (And now that FinCEN's done farking around, the criminal shiat's not looking so hot either.)

And look, there's no shame in that.  Sometimes the theoretical can't be leveraged into the practical.  Look at multiplication.  For thousands of years, O(n2) was the best we could do.  It was all we could do.  Then Karatsuba came along, faster for all but the smallest integers.  Then Schönhage-Strassen, faster still for really big numbers.  Then, from 2007 to 2019, a bunch of new tricks were discovered, culminating in an asymptotic rate of O(n log n), which is conjectured to be the real best we can do.  But because of the overhead involved, these new algorithms are only faster than Schönhage-Strassen for obscenely large inputs.  Like, more digits than atoms in the observable universe.  So no one's going to be writing the Harvey-van der Hoeven algorithm into any Linux distros any time soon.  But they proved it was possible, and in the math community that's more than enough.

Alas, because people are greedy and line go up, they want to believe that there's more to crypto than to esoteric multiplication tricks.  Or they want others to believe it.  Either way.  So they ensconce themselves in an ecosystem of bullshiat, inventing countless rationalizations for why this batch of ugly clip-art will be the one that finally changes the world.  But in the face of someone who knows enough about "the technology" and about the wider context of information technology it desperately wants to fit into, all their excuses evaporate like piss on a hot day.  It's only a matter of time before they run out, and they... run out.

/if you don't want to spend years studying CS, you could always lurk on /r/buttcoin
//they've got folks there who make me look like a rank amateur when it comes to this stuff
///wait a minute, Scientologists call their crap "the technology" too
 
Displayed 50 of 51 comments


Oldest | « | 1 | 2 | » | Newest | Show all


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.