This blockchain startup selling collectible NBA highlights just had $50 million in sales in 30 days

[null]

A lot of people in this thread are missing the point of why Topshot and NFT exists.

It's all about digital ownership

it's a confidence trick and it might work.

as for "digital ownership" we can all own unique digital "representations". i can generate them at home 24/7, 365 days a year if I want.

they are trying to massage opinion to accept the stamping of some "digital tokens" as having value.

i can see the argument for the first tweet or other significant items.

the NBA does it's own marketing so that was a good choice for these guys.

more broadly there are a number of issues which make these digital tokens different to your physical collectable and those are

i. physical objects are objective and consistent. digital assets are a representation based on human whim. the same concept can be represented in a huge number of ways.

ii. scarcity. collectables are by their nature scarce. dgital assets are not. digital assets are like having banks with no lending reserve requirements. there is no supply-side backstop to how much can be sold and how much of the real-economy it can distort.

iii. physical objects serve as a primary source of conservation of wealth because they are more permanent and more consistent than other forms of money. so gold (being unchanging) has served this purpose because soceital or system collapse does not affect physical gold. or paintings. or other collectables. they are more permanent that relatively transitory systems like our money system, capitalism, banks etc.

iv. dependancy. physical objects are not dependent on running systems for value or transacting. but they can probably solve this by duplicating digital tokens into trezor like one-way devices.

v. authority. who assume authority in the event of chain collapse. who updates in the event of collapse and technological advance.

as with any system you need confidence. so they will avoid talking about the above.

 

[Uitomy]

it's a confidence trick and it might work.

as for "digital ownership" we can all own unique digital "representations". i can generate them at home 24/7, 365 days a year if I want.

they are trying to massage opinion to accept the stamping of some "digital tokens" as having value.

i can see the argument for the first tweet or other significant items.

the NBA does it's own marketing so that was a good choice for these guys.

more broadly there are a number of issues which make these digital tokens different to your physical collectable and those are

i. physical objects are objective and consistent. digital assets are a representation based on human whim. the same concept can be represented in a huge number of ways.

ii. scarcity. collectables are by their nature scarce. dgital assets are not. digital assets are like having banks with no lending reserve requirements. there is no supply-side backstop to how much can be sold and how much of the real-economy it can distort.

iii. physical objects serve as a primary source of conservation of wealth because they are more permanent and more consistent than other forms of money. so gold (being unchanging) has served this purpose because soceital or system collapse does not affect physical gold. or paintings. or other collectables. they are more permanent that relatively transitory systems like our money system, capitalism, banks etc.

iv. dependancy. physical objects are not dependent on running systems for value or transacting. but they can probably solve this by duplicating digital tokens into trezor like one-way devices.

v. authority. who assume authority in the event of chain collapse. who updates in the event of collapse and technological advance.

as with any system you need confidence. so they will avoid talking about the above.

You make a good point, but blockchains basically answer each one of your points, that's why people with billions of dollars who influence out society are investing in the tech, it's immutable and you can't alter transactions recorded on blockchains, it checks the human condition to manipulate better than anything phsyical because there's no real protocol in a person's brain besides trust that can actually prevent them from altering scarcity and consistency

 

[concise]

Jack Dorsey Is Auctioning His First Tweet Ever As An NFT... And It's Now Worth Over $2MM | ZeroHedge

So let's say I buy this tweet and then own it.
Do I get the right to edit it?
Do I get to stop people from viewing it on his timeline?

 

[newworldafro]

So let's say I buy this tweet and then own it.
Do I get the right to edit it?
Do I get to stop people from viewing it on his timeline?

Article seems to say yes

 

[null]

"blockchains" don't answer my point. BTC goes part way to part-way answering some of my points. most peer-to-peer blockchain projects (coinmarketcap) will in the end not amount to very much so projects burning money with little tech advancements over BTC is not "proof" against the fundamentals that I listed.

and in any case they try to sell utility. utility in "those" blockchains.

have you read satoshi's original paper (https://bitcoin.org/bitcoin.pdf). please explain to me what tech advancements have been done to get around the core scalability problem (Bitcoin scalability problem) since then? and no "off chain" hacks don't count. POW is what? cheaper.. that doesn't fix scalability.

BTC/blockchain is rooted and backstopped by a mathematical problem. that's the anchor on which distributed trust is achieved. and since then.... crickets...

blockchains are more mutable than physical reality. they are mutable by common human agreement and that's been done on the chief blockchain of all BTC already.

BTC history / ownership was already altered by agreement of the majority of processing power on the network.

"On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or blockchain, which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.[27][28] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.[29] This was the only major security flaw found and exploited in bitcoin's history"

"A fork influences the validity of the rules. Forks are typically conducted in order to add new features to a blockchain, to reverse the effects of hacking or catastrophic bugs. Forks require consensus to be resolved or else a permanent split emerges."

then you have bugs and algorithmics as a ticking timebomb of viability.

for the rest: i don't think you understand what scarcity means in this context.

computer representation is not immutable. it's arbitrary.

now this is NOT a discussion about BTC and I just include this additional information to demo that you need to actually understand what you are talking about before making sweeping statements.

 

[Uitomy]

"blockchains" don't answer my point. BTC goes part way to part-way answering some of my points. most peer-to-peer blockchain projects (coinmarketcap) will in the end not amount to very much so projects burning money with little tech advancements over BTC is not "proof" against the fundamentals that I listed.

and in any case they try to sell utility. utility in "those" blockchains.

have you read satoshi's original paper (https://bitcoin.org/bitcoin.pdf). please explain to me what tech advancements have been done to get around the core scalability problem (Bitcoin scalability problem) since then? and no "off chain" hacks don't count. POW is what? cheaper.. that doesn't fix scalability.

BTC/blockchain is rooted and backstopped by a mathematical problem. that's the anchor on which distributed trust is achieved. and since then.... crickets...

blockchains are more mutable than physical reality. they are mutable by common human agreement and that's been done on the chief blockchain of all BTC already.

BTC history / ownership was already altered by agreement of the majority of processing power on the network.

"On 6 August 2010, a major vulnerability in the bitcoin protocol was spotted. Transactions weren't properly verified before they were included in the transaction log or blockchain, which let users bypass bitcoin's economic restrictions and create an indefinite number of bitcoins.[27][28] On 15 August, the vulnerability was exploited; over 184 billion bitcoins were generated in a transaction, and sent to two addresses on the network. Within hours, the transaction was spotted and erased from the transaction log after the bug was fixed and the network forked to an updated version of the bitcoin protocol.[29] This was the only major security flaw found and exploited in bitcoin's history"

"A fork influences the validity of the rules. Forks are typically conducted in order to add new features to a blockchain, to reverse the effects of hacking or catastrophic bugs. Forks require consensus to be resolved or else a permanent split emerges."

then you have bugs and algorithmics as a ticking timebomb of viability.

for the rest: i don't think you understand what scarcity means in this context.

computer representation is not immutable. it's arbitrary.

now this is NOT a discussion about BTC and I just include this additional information to demo that you need to actually understand what you are talking about before making sweeping statements.

Yup Ill give you credit where your credit is due you provide a solid valid argument.




That being said I'm going to keep buying and selling the moments, cause why not I'm not gonna bet against the nba on this

 

[IShotTheSheriff]

Yup Ill give you credit where your credit is due you provide a I'm not gonna bet against the nba on this

Say bruh,

I came into this thread looking for any discussions involving TopShop.. are there any other threads with more traffic on here?

Also how that preorder pack looking if you received yours.

 

[Uitomy]

Say bruh,

I came into this thread looking for any discussions involving TopShop.. are there any other threads with more traffic on here?

Also how that preorder pack looking if you received yours.

There's mentioning here and there on the btc thread but it's not too many people one here really into it


My preorder pack was honestly really trash, aaron gordon hoe ingles and mcgee, but in the mean time I got a khris middleton s1 bubble moment for only like 100$ so that made up for it

 

[FaTaL]

How often do they drop packs? I wanna get in on this

 

[Uitomy]

How often do they drop packs? I wanna get in on this

They used to drop a lot but with over 250k people trying to get packs, they pretty much drop only once or twice a week, them shyts sellout instantly tho. Tbh buying single moments is worth more than common packs 70% of the time.


Rare and legendary packs usually drop around certain events like playoffs and opening night, with some random ones thrown in there every other month.

 

[cobra]

it's a confidence trick and it might work.

as for "digital ownership" we can all own unique digital "representations". i can generate them at home 24/7, 365 days a year if I want.

they are trying to massage opinion to accept the stamping of some "digital tokens" as having value.

i can see the argument for the first tweet or other significant items.

the NBA does it's own marketing so that was a good choice for these guys.

more broadly there are a number of issues which make these digital tokens different to your physical collectable and those are

i. physical objects are objective and consistent. digital assets are a representation based on human whim. the same concept can be represented in a huge number of ways.

ii. scarcity. collectables are by their nature scarce. dgital assets are not. digital assets are like having banks with no lending reserve requirements. there is no supply-side backstop to how much can be sold and how much of the real-economy it can distort.

iii. physical objects serve as a primary source of conservation of wealth because they are more permanent and more consistent than other forms of money. so gold (being unchanging) has served this purpose because soceital or system collapse does not affect physical gold. or paintings. or other collectables. they are more permanent that relatively transitory systems like our money system, capitalism, banks etc.

iv. dependancy. physical objects are not dependent on running systems for value or transacting. but they can probably solve this by duplicating digital tokens into trezor like one-way devices.

v. authority. who assume authority in the event of chain collapse. who updates in the event of collapse and technological advance.

as with any system you need confidence. so they will avoid talking about the above.

think of it being signed/autographedhed by the NBA

 

[null]

think of it being signed/autographedhed by the NBA

well thanks for that mr. coli breh. you seem to have covered everything.

 

[cobra]

well thanks for that mr. coli breh. you seem to have covered everything.

I believe I did

 

[null]

I believe I did

i know ...

 

[IShotTheSheriff]

There's mentioning here and there on the btc thread but it's not too many people one here really into it


My preorder pack was honestly really trash, aaron gordon hoe ingles and mcgee, but in the mean time I got a khris middleton s1 bubble moment for only like 100$ so that made up for it

Bruh

I don’t know if you tried for the stress test packs last night but I pulled that turn around jumper LeBron and Kawai’s 10,000th point.

What would you do with this LeBron? It’s LE, 6XXX/15000... going for about $990 lowest asking at the moment