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Associated Press is going to start selling NFTs of their photos

spartaman64
By spartaman64
in Tech News
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Posted
33 minutes ago, DJUNGELSKOG said:

 

 

Oh, but what about the part where NFTs being made from real objects/art? Think of it this way. Is a baseball card made from the actual player? Or is it just a representation of the idea of the player? Just like how you can't print a baseball card with A-Rod on it without permission and licensing from both the player, and the photographer/artist that created the image depicted on the card, creating NFTs from art you don't own is (from a copyrights and rights holder standpoint) theft. 

 

 

Yet, there is nothing proving that the item "minted" was authentic in the first place. Physical items? there are always counterfeits. But that has an input cost, and to counterfeit louis vuitton purses and tiffany jewelry imposes a manufacturing cost, and then has to enter the logistics chain somehow where people don't know it's fake, or know it's fake and don't care. There are people walking around with $10 LV-knockoff purses they found in the window of a Chinese import store, and you'll see dozens of people carrying around the clearly counterfeit purses who bought it from the store.

 

With NFT's, the entire "save-as" thing, is true. NFT's want to get the money from the re-selling of the item, because the first to mint it, get's commissions in perpetuity on the item. So the desire to steal everything that can be stolen and minted first is there. But the demand to actually own those things is not.

 

Hell, in the comic industry, people sell the original (hand drawn) works because they would otherwise just get crammed in a drawer somewhere and decay. People want them, there is only one of them, and presumably some of those are going to get flipped, but the majority of them are just going into someone's private collection to never be seen again. The comics produced from them? The digital masters still exist somewhere.

 

But since most artists have switched to entirely digital workflows, the chances of getting an "original" no longer exists. Yes, you can order a print, but unless that print is signed, it's not unique. 

 

Either way. NFT's don't solve anything that hasn't been solved, and instead tries to induce a scarcity in an item that isn't scarce to begin with. The NFT isn't the item itself, so there's no way to ensure there isn't a bait-and-switch, or wherever the digital asset is stored isn't destroyed at some point. That's why pretty much every proposal for NFT's are stupid at face value (eg photos and artwork, which can simply be saved from the source if people want it, without paying anything for it.) And then there is "property" within a game, which the developer of the game has to now operate in perpetually, even at a loss, to ensure those NFT's continue to exist.

 

Like game publishers getting into NFT's are the single-worst outcome next to shutting down/going bankrupt there is. Because let's say a publisher gets into NFT's, sells a billion dollars of NFT's, but only sees a few million dollars in the first year and then it dwindles below the cost to operate the asset servers? Now what? Keep producing more NFT's? That's a ponzi scheme.  What if they go bankrupt? What if someone purchases the "assets" of the bankrupt NFT publisher? Well "technically" the NFT owners own the assets and can't be purchased. So you know what that means? 

 

Every game that has NFT's in it, will eventually go bankrupt. Publishers will pull the same trick film publishers have been using for decades, and make every game their own legal entity, so that they can make it go bankrupt in 10 years and walk away from it. Everyone who owns a NFT in that game, LOL sux to be you.

 

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Posted
20 hours ago, Brooksie359 said:

Also we already have existing ways to show proof of ownership so again I don't see the point of nfts. 

These comments are a loop, please educate yourself on the subject material as you are still showing signs of ignorance. If you understood the mechanics and the reasonings behind things like defi and nfts you wouldn't say stupid things like this. 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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2 hours ago, BuckGup said:

These comments are a loop, please educate yourself on the subject material as you are still showing signs of ignorance. If you understood the mechanics and the reasonings behind things like defi and nfts you wouldn't say stupid things like this. 

Yep because the only way I could disagree is if I didn't know how the stuff works. Have you ever thought that maybe people just don't agree with you? Maybe people think our current way of doing things is more than sufficient and we don't need nfts and cryptocurrency. Simply boiling it down to you don't know what you are talking about isn't really an argument. 

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1 hour ago, Brooksie359 said:

Yep because the only way I could disagree is if I didn't know how the stuff works. Have you ever thought that maybe people just don't agree with you? Maybe people think our current way of doing things is more than sufficient and we don't need nfts and cryptocurrency. Simply boiling it down to you don't know what you are talking about isn't really an argument. 

how would you implement ownership of digital work 2d/3d?

because current way isnt protecting creators/owners

 

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59 minutes ago, pas008 said:

how would you implement ownership of digital work 2d/3d?

because current way isnt protecting creators/owners

 

And nfts are? If they had a group like the music Industry that fought copyrighted stuff being used without permission then there likely would be able to protect the group but unfortunately there isn't really. Also again nfts haven't changed anything about that. 

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1 hour ago, pas008 said:

how would you implement ownership of digital work 2d/3d?

because current way isnt protecting creators/owners

 

How do NFTs protect it?

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2 hours ago, Brooksie359 said:

Yep because the only way I could disagree is if I didn't know how the stuff works. Have you ever thought that maybe people just don't agree with you? Maybe people think our current way of doing things is more than sufficient and we don't need nfts and cryptocurrency. Simply boiling it down to you don't know what you are talking about isn't really an argument. 

Normally the assumption is most people don't actively promote and practice self harm. Again your ignorance to the topic is showing. The current banking system is very similar to how the blockchain operates. You say our systems in place are sufficient, a quick reality check of the world says differently but believe what you want and live in the past as society will change regardless if you do or not. People bitched when blackboards came out in the 1800s, people bitched when we started using paper cash instead of gold and bartering, people bitched that the generation after WWI wouldn't amount to anything then they won the second war, and it continues throughout all of recorded history. This is not unique to crypto or you or me. Change is inevitable and you aren't going to do shit to stop it so I would rather be educated to stay relevant with society opposed to fight tooth and nail and die senile. Because at the moment you actively supporting companies like JP Morgan, Visa, Mastercard, and the US government. So to complain about national debt, student loans, the cost of homes, and anything financial related is hypocritical. You stand for corporate greed, fraud, and exploitation of citizens. Crypto brings back the power of finance to YOU and everyone in society. You don't have to bail the banks out again, you don't have to be a victim to fraud, you don't have to pay overdraft fees, you don't have to worry about credit scores, and the list goes on and on if you read into the mechanics of all of this. 

 

I don't want to come off as brash or insulting I just seriously want people to learn about things and understand them. As you currently don't understand enough of the technology to see you are undermining yourself.

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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Posted
6 minutes ago, BuckGup said:

Normally the assumption is most people don't actively promote and practice self harm. Again your ignorance to the topic is showing. The current banking system is very similar to how the blockchain operates. You say our systems in place are sufficient, a quick reality check of the world says differently but believe what you want and live in the past as society will change regardless if you do or not. People bitched when blackboards came out in the 1800s, people bitched when we started using paper cash instead of gold and bartering, people bitched that the generation after WWI wouldn't amount to anything then they won the second war, and it continues throughout all of recorded history. This is not unique to crypto or you or me. Change is inevitable and you aren't going to do shit to stop it so I would rather be educated to stay relevant with society opposed to fight tooth and nail and die senile. Because at the moment you actively supporting companies like JP Morgan, Visa, Mastercard, and the US government. So to complain about national debt, student loans, the cost of homes, and anything financial related is hypocritical. You stand for corporate greed, fraud, and exploitation of citizens. Crypto brings back the power of finance to YOU and everyone in society. You don't have to bail the banks out again, you don't have to be a victim to fraud, you don't have to pay overdraft fees, you don't have to worry about credit scores, and the list goes on and on if you read into the mechanics of all of this. 

 

I don't want to come off as brash or insulting I just seriously want people to learn about things and understand them. As you currently don't understand enough of the technology to see you are undermining yourself.

Hindsight is 2020. It's easy to point out things that people thought would fail that didn't but there just as many if not more that did fail. Also you act like crypto is some magical cure to all of the things you stated above when it clearly isn't. Believe me if there was a simple solution to all of those problems I would be all on board but unfortunately no simple solution exists. 

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6 minutes ago, BabaGanuche said:

How do NFTs protect it?

The piece is serialized so the ownership can be verified with the blockchain. Think of it like the title of a car. When you get pulled over they ask for license and registration to verify the owner of the vehicle. NFTs are very useful as it's nearly impossible to fraud the ownership. Think of a stadium that could seat the entire world and two people go into the middle to do a transaction while everyone watches them do so. The world and people know every detail about the transaction and watched it take place. If you were to ask someone in the stadium if they watched Person A give Person B item C they would say yes. Now lets say they wanted to lie for fraud reasons, they would now need to convince the majority of the watchers to lie. Since the reason for the lie was fraud the other watchers would be aware of the intent and realize it's only for that persons or groups own self gain and they wouldn't be able to get a majority. The overreaching idea is no one should be doing fraud to begin with so when it does pop up it's self corrective and cannot happen. No one can disable the trade button like Robbin Hood or be forced to bail the banks out after they knowingly traded derivative swaps that would crash the housing market. So it comes down to do you trust Visa, a single private entity with fuck you cash on hand trying to get every penny from you, or your family, friends, neighbors, and community members?

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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̌̅̒̾̈́̆͌̌̾̎̽̐̅̏́̈̔͛̀̋̃͊̒̓͗͒̑͒̃͂̌̄̇̑̇͛̆̾͛̒̇̍̒̓̀̈́̄̐͂̍͊͗̎̔͌͛̂̏̉̊̎͗͊͒̂̈̽̊́̔̊̃͑̈́̑̌̋̓̅̔́́͒̄̈́̈̂͐̈̅̈̓͌̓͊́̆͌̉͐̊̉͛̓̏̓̅̈́͂̉̒̇̉̆̀̍̄̇͆͛̏̉̑̃̓͂́͋̃̆̒͋̓͊̄́̓̕̕̕̚͘͘͘̚̕̚͘̕̕͜͜͝͝͝͠͝͝͝͝͠ͅS̷̢̨̧̢̡̨̢̨̢̨̧̧̨̧͚̱̪͇̱̮̪̮̦̝͖̜͙̘̪̘̟̱͇͎̻̪͚̩͍̠̹̮͚̦̝̤͖̙͔͚̙̺̩̥̻͈̺̦͕͈̹̳̖͓̜͚̜̭͉͇͖̟͔͕̹̯̬͍̱̫̮͓̙͇̗̙̼͚̪͇̦̗̜̼̠͈̩̠͉͉̘̱̯̪̟͕̘͖̝͇̼͕̳̻̜͖̜͇̣̠̹̬̗̝͓̖͚̺̫͛̉̅̐̕͘͜͜͜͜ͅͅͅ.̶̨̢̢̨̢̨̢̛̻͙̜̼̮̝̙̣̘̗̪̜̬̳̫̙̮̣̹̥̲̥͇͈̮̟͉̰̮̪̲̗̳̰̫̙͍̦̘̠̗̥̮̹̤̼̼̩͕͉͕͇͙̯̫̩̦̟̦̹͈͔̱̝͈̤͓̻̟̮̱͖̟̹̝͉̰͊̓̏̇͂̅̀̌͑̿͆̿̿͗̽̌̈́̉̂̀̒̊̿͆̃̄͑͆̃̇͒̀͐̍̅̃̍̈́̃̕͘͜͜͝͠͠z̴̢̢̡̧̢̢̧̢̨̡̨̛̛̛̛̛̛̛̛̲͚̠̜̮̠̜̞̤̺͈̘͍̻̫͖̣̥̗̙̳͓͙̫̫͖͍͇̬̲̳̭̘̮̤̬̖̼͎̬̯̼̮͔̭̠͎͓̼̖̟͈͓̦̩̦̳̙̮̗̮̩͙͓̮̰̜͎̺̞̝̪͎̯̜͈͇̪̙͎̩͖̭̟͎̲̩͔͓͈͌́̿͐̍̓͗͑̒̈́̎͂̋͂̀͂̑͂͊͆̍͛̄̃͌͗̌́̈̊́́̅͗̉͛͌͋̂̋̇̅̔̇͊͑͆̐̇͊͋̄̈́͆̍̋̏͑̓̈́̏̀͒̂̔̄̅̇̌̀̈́̿̽̋͐̾̆͆͆̈̌̿̈́̎͌̊̓̒͐̾̇̈́̍͛̅͌̽́̏͆̉́̉̓̅́͂͛̄̆͌̈́̇͐̒̿̾͌͊͗̀͑̃̊̓̈̈́̊͒̒̏̿́͑̄̑͋̀̽̀̔̀̎̄͑̌̔́̉̐͛̓̐̅́̒̎̈͆̀̍̾̀͂̄̈́̈́̈́̑̏̈́̐̽̐́̏̂̐̔̓̉̈́͂̕̚̕͘͘̚͘̚̕̚̚̚͘̕̕̕͜͜͝͠͠͝͝͝͝͠͝͝͝͠͝͝͝͝͝͝ͅͅͅī̸̧̧̧̡̨̨̢̨̛̛̘͓̼̰̰̮̗̰͚̙̥̣͍̦̺͈̣̻͇̱͔̰͈͓͖͈̻̲̫̪̲͈̜̲̬̖̻̰̦̰͙̤̘̝̦̟͈̭̱̮̠͍̖̲͉̫͔͖͔͈̻̖̝͎̖͕͔̣͈̤̗̱̀̅̃̈́͌̿̏͋̊̇̂̀̀̒̉̄̈́͋͌̽́̈́̓̑̈̀̍͗͜͜͠͠ͅp̴̢̢̧̨̡̡̨̢̨̢̢̢̨̡̛̛͕̩͕̟̫̝͈̖̟̣̲̖̭̙͇̟̗͖͎̹͇̘̰̗̝̹̤̺͉͎̙̝̟͙͚̦͚͖̜̫̰͖̼̤̥̤̹̖͉͚̺̥̮̮̫͖͍̼̰̭̤̲͔̩̯̣͖̻͇̞̳̬͉̣̖̥̣͓̤͔̪̙͎̰̬͚̣̭̞̬͎̼͉͓̮͙͕̗̦̞̥̮̘̻͎̭̼͚͎͈͇̥̗͖̫̮̤̦͙̭͎̝͖̣̰̱̩͎̩͎̘͇̟̠̱̬͈̗͍̦̘̱̰̤̱̘̫̫̮̥͕͉̥̜̯͖̖͍̮̼̲͓̤̮͈̤͓̭̝̟̲̲̳̟̠͉̙̻͕͙̞͔̖͈̱̞͓͔̬̮͎̙̭͎̩̟̖͚̆͐̅͆̿͐̄̓̀̇̂̊̃̂̄̊̀͐̍̌̅͌̆͊̆̓́̄́̃̆͗͊́̓̀͑͐̐̇͐̍́̓̈́̓̑̈̈́̽͂́̑͒͐͋̊͊̇̇̆̑̃̈́̎͛̎̓͊͛̐̾́̀͌̐̈́͛̃̂̈̿̽̇̋̍͒̍͗̈͘̚̚͘̚͘͘͜͜͜͜͜͜͠͠͝͝ͅͅͅ☻♥■∞{╚mYÄÜXτ╕○\╚Θº£¥ΘBM@Q05♠{{↨↨▬§¶‼↕◄►☼1♦  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1 minute ago, Brooksie359 said:

Hindsight is 2020. It's easy to point out things that people thought would fail that didn't but there just as many if not more that did fail. Also you act like crypto is some magical cure to all of the things you stated above when it clearly isn't. Believe me if there was a simple solution to all of those problems I would be all on board but unfortunately no simple solution exists. 

How does a smart contract work?

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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1 minute ago, BuckGup said:

 NFTs are very useful as it's nearly impossible to fraud the ownership.

You mean purchase not ownership. NFTs in no way verify that the creator of the NFTs owned the thing to begin with or has the right to sell copies of it. It also does not say what rights were sold. Was it a single copy, world wide distribution rights, the copyright, or just a link to web page that could vanish at anytime.

 

NFTs are just fancy receipts. Blockchain a solution in search of a problem.

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35 minutes ago, BabaGanuche said:

You mean purchase not ownership. NFTs in no way verify that the creator of the NFTs owned the thing to begin with or has the right to sell copies of it. It also does not say what rights were sold. Was it a single copy, world wide distribution rights, the copyright, or just a link to web page that could vanish at anytime.

 

NFTs are just fancy receipts. Blockchain a solution in search of a problem.

You're confused as we exist in a transitional time of virtual and physical. If I stole an item and made an NFT it still shows undisputed that I own the stolen item. Everything that happens before that is offchain and is why we have so much fraud in society. So if someone is a digital artist they could make each of their pieces an NFT, not to sell, but as a way to show original ownership. If you want to transfer ownership you can use a smart contract as now everyone knows who the new owner is. So nothing gets stolen, the original artist gets paid, smart contract can cover all copyright concerns, and if one of the party lies the truth can be validated. 

▓ƆԀ▓ S▓₱▓Ɇ▓c▓s▓: i7 6ʇɥפᴉƎ00K (4.4ghz), Asus DeLuxe X99A II, GT҉X҉1҉0҉8҉0 Zotac Amp ExTrꍟꎭe),Si6F4Gb D???????r PlatinUm, EVGA G2 Sǝʌǝᘉ5ᙣᙍᖇᓎᙎᗅᖶt, Phanteks Enthoo Primo, 3TB WD Black, 500gb 850 Evo, H100iGeeTeeX, Windows 10, K70 R̸̢̡̭͍͕̱̭̟̩̀̀̃́̃͒̈́̈́͑̑́̆͘͜ͅG̶̦̬͊́B̸͈̝̖͗̈́, G502, HyperX Cloud 2s, Asus MX34. פN∩SW∀S 960 EVO

Just keeping this here as a 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8 minutes ago, BuckGup said:

You're confused as we exist in a transitional time of virtual and physical. If I stole an item and made an NFT it still shows undisputed that I own the stolen item. Everything that happens before that is offchain and is why we have so much fraud in society. So if someone is a digital artist they could make each of their pieces an NFT, not to sell, but as a way to show original ownership. If you want to transfer ownership you can use a smart contract as now everyone knows who the new owner is. So nothing gets stolen, the original artist gets paid, smart contract can cover all copyright concerns, and if one of the party lies the truth can be validated. 

Or you could just apply for the copyright like a normal person because nfts doesn't do jack unless you filed for the copyright as there is no legal binding with nfts. I mean having the nft is great and all but it's not like it is legally binding so what are you going to do when someone rips a copy of the art? You haven't filed for the copyright by simply creating the nft so you are sol and have no legal recourse. 

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59 minutes ago, BuckGup said:

How does a smart contract work?

How does smart contracts solve the problems you stated? What smart contracts are going to solve the problems of student loans and housing prices? Next you are going to say that smart contracts are going to cure cancer. 

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6 minutes ago, Brooksie359 said:

as there is no legal binding with nfts

yet

it's still new and changing, if it's widely adopted then it'll probably be regulated and such

imo, it'll take off if it makes sense, if it doesn't then it'll die off, naturally

-sigh- feeling like I'm being too negative lately

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46 minutes ago, BuckGup said:

You're confused as we exist in a transitional time of virtual and physical. If I stole an item and made an NFT it still shows undisputed that I own the stolen item. Everything that happens before that is offchain and is why we have so much fraud in society. So if someone is a digital artist they could make each of their pieces an NFT, not to sell, but as a way to show original ownership. If you want to transfer ownership you can use a smart contract as now everyone knows who the new owner is. So nothing gets stolen, the original artist gets paid, smart contract can cover all copyright concerns, and if one of the party lies the truth can be validated. 

 

29 minutes ago, Moonzy said:

yet

it's still new and changing, if it's widely adopted then it'll probably be regulated and such

imo, it'll take off if it makes sense, if it doesn't then it'll die off, naturally

except we have other ways of transferring and showing ownership. legal documents, contracts etc. so to me its a solution in search of a problem especially since right now NFTs doesnt do any of that. if you want ownership of something to be tied to an NFT you still need to have legal documents, contracts etc so what's the point?

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21 minutes ago, spartaman64 said:

except we have other ways

We also have many ways to do many things

 

Why do we still pay by cash if there's already e-wallet or credit card? Why do we still need physical letters if there's email? Etc etc

 

Each methods have their pros and cons, and if the market for NFT likes the pros they provide then it's going to stay, even though it may become niche if it doesn't become the norm

 

21 minutes ago, spartaman64 said:

if you want ownership of something to be tied to an NFT you still need to have legal documents, contracts etc so what's the point?

Because NFT is not widely adopted yet

Once it is (if ever) recognized in the legal world then a transfer of data such as what you mentioned will probably be required

 

Don't get me wrong, I'm not for NFT, I'm just saying that it's just another way to proof ownership and I can see why it exist

I'm not saying it's going to replace things, it might, but to me, again, it's another way of doing things

-sigh- feeling like I'm being too negative lately

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1 hour ago, Moonzy said:

We also have many ways to do many things

 

Why do we still pay by cash if there's already e-wallet or credit card? Why do we still need physical letters if there's email? Etc etc

 

There's two main answers to that

1. Cash is reasonably untracable

2. Banks/Card companies won't give cards to everyone, even though in most cases, you can get a bank account in the US, even if you're not a US citizen.

 

More to the point, it's an extremely huge pain in the ass like you wouldn't believe to use a US bank account outside of the US.

 

This is how it works for the rest of the world:

I need 100$ US, let me go to the bank, they demand I give them, oh $130+ a commission

I need 100$ US, I have $100 US in my bank account in Canada, I can not use that account for absolutely anything inside of Canada, or outside of Canada. Canadian banks want their pound of flesh to use USD.

I need $100 US, I have $100 US in by US bank account in the US. I can use the debit card to that bank with any online service that does not ask for a zip code. If it asks for a zip code, sorry, your money is not good here.

 

I used to use that card for everything in the US, because I didn't want to exchange USD back to CAD and then back to USD every single time. But then services like Steam, changed to only allow purchases in your own currency. Yeah, so now I have to convert USD back to CAD to buy a game that is exactly the same thing USD. 

 

The most recent company to jump on the asshole-to-non-Americans payments bandwagon is Paypal. Paypal will not permit you to have a US Bank account attached to your Paypal Account if you have a non-US address. They say it's because the banking laws changed. Maybe that's the consequences of NAFTA 2.0. Who really knows, they sure the hell do not. All I know is that this is bullshit imposed by Paypal so they can steal exchange fees. Venmo? That's Paypal again, and you can't use it outside the US. Square (payments) can't use it outside the US. 

 

Meanwhile, Transferwise? Based out of the UK? Works fine. Less to no bullshit involved to use it at all. 

 

In a sense, everyone outside of the US, gets screwed every time they want to purchase US goods, because the payments accepted by US retailers/stores often prevent foreign purchases, even for intangible goods. 

 

Would Bitcoin, Ethereum, or NFT's solve any of this? No. They can't. Because that requires both ends of the transaction to accept it, and nobody will accept it, and anyone who accepts it, has to take the risk, no merchant will do that.

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10 minutes ago, Kisai said:

nobody will accept it

It's like Linux, imo

Chicken and egg problem

 

Though Bitcoin does have some major progress recently, by becoming a legal tender in at least one country I know of

 

But as I said, each have their pros and cons, and there are workarounds to use crypto, I think? (Not from the US) I've heard that you can exchange crypto for Amazon gift cards or something

-sigh- feeling like I'm being too negative lately

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7 minutes ago, Moonzy said:

It's like Linux, imo

Chicken and egg problem

 

Though Bitcoin does have some major progress recently, by becoming a legal tender in at least one country I know of

 

But as I said, each have their pros and cons, and there are workarounds to use crypto, I think? (Not from the US) I've heard that you can exchange crypto for Amazon gift cards or something

One service I do work for, I get asked, a lot, about accepting paypal or crypto, and the answer is "no." It's too risky for the merchant, and too risky for whoever accepts the paypal or crypto payment, because they then in turn have to take that risk to pay us.

 

Basically, it's becoming harder to use Paypal, because Paypal isn't a bank and makes up their own rules. Crypto has no rules anywhere except with the exchange points with fiat currencies. No reasonable person or retailer/service would want to risk a three-way exchange where they can lose the money twice. It's not worth the risk. 

 

Hence, US service are for US residents with a US bank account and US street address. Japanese services are for Japanese residents with a Japanese bank account and street address. If you don't have a bank account and a street address, you do not exist, your money is no good here.

 

The thing that pisses me off about Paypal, is that I was able to use that US bank account with it for over 10 years before they decided they didn't want my money anymore.

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10 hours ago, Moonzy said:

yet

it's still new and changing, if it's widely adopted then it'll probably be regulated and such

imo, it'll take off if it makes sense, if it doesn't then it'll die off, naturally

I doubt that it will take off just like cryptocurrency is not becoming a legitimate currency either. 

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10 minutes ago, Brooksie359 said:

just like cryptocurrency is not becoming a legitimate currency

didn't bitcoin become a legal tender in one country?

-sigh- feeling like I'm being too negative lately

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36 minutes ago, Moonzy said:

didn't bitcoin become a legal tender in one country?

El Salvador, and that's wishful thinking on their behalf. It's a small country (8,124 sq mi), a little over half the size of Taiwan (13,976 sq mi). 6.8 million residents, vs Taiwan's 23 million.

 

Suffice it to say, the country has not been stable long enough to even have it's own currency be worth anything, so switching to bitcoin just isn't going to solve that. Especially when the country has it's expats sending more money to the country than the country has in GDP. So it may simply be a matter of convenience to sidestep currency exchanges/regulations. 

 

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5 minutes ago, James Evens said:

Isn't the USD there currency?

 

For me this looks like a cash grab/getting money into the country through block chain investor.

If your country can't print it's own money, then it has no control over it's economy. That is pretty much the reason why any country can print money. There is no such thing as "too much debt" if it's government debt. The problem is that the only way you get out of that debt is by inflation, thus making your currency worth less against others. Ironically since Covid has caused this effect worldwide, the net result is the destruction of wealth across the board.

 

They used to have their own currency 21 years ago, and they just never had stability. I can only presume that the bitcoin makes it even less stable.

 

 

At the time stamp stated, you can become a citizen of El Salvador for only 3 bitcoin.

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On 1/12/2022 at 11:23 PM, pas008 said:

i'm not sure yet but imagine if you own the NFT on a pair of nike jordans or darth vader helmet

block chain proves you are owner while you can make a copy or copies(prolly pay for each game world) a csgo skin or an ESO skin or in meta which then in game you could trade or sell off

game company makes money for you uploading it but you potentially can make money distributing it in that game world

 

kinda what it sounds like to me seeing how all these companies are getting involved (protect their products and brands also) but honestly I have no clue

While I find the hobby of collecting a clothing item to be stupid in itself, I can see the value of NFTs in selling limited item things in a metaverse. Imagine a show that you can wear, be unique in and that no one can steal it from you. 

 

The niche usecases of NFTs do not justify their current value AND pervasion in our society. And the given use cases also depend on whether the metaverse takes off or not.

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