Line Goes Up – The Problem With NFTs

Folding Ideas' new (2 hour podcast-ish) video "The Problem With NFTs" is a really good critique of cryptocurrency: [VIDEO] Covers pretty much every thought I've ever had regarding centralization, privacy issues, proof of work and proof of stake both rewarding the rich, economic incentives in speculative markets, NFT hucksterism — but with detailed research and examples of each. Some of the NFT security stuff is jaw-droppingly bad.

On this note. This recent video is probably the most detailed and incisive critique of cryptocurrency and NFTs that I've seen: [VIDEO] It not only covers the technical limitations, but also the ideological flaws.

They pretty much nailed it in the last paragraph... > Writing in the New York Times Adrian Chen noted as far back as 2013 that Bitcoin is built on a weird mix of speculative greed bolstered by a utopian cyberlibertarian ideology and likened it to a digital gold rush. Indeed, hyperbole continues to characterise all aspects of the crypto world. Crypto messaging does not appear to be directed at the rational or sensible. Adrian Chen's article... [LINK] Dan Olson's now epic "Line Goes Up" [VIDEO] ... a masterful takedown of crypotcurrency and NFT's, it also demonstrates what a shit-show this has all become. Much MUCH worse than in Chen's 2013 article.

I've watched the video as well and wholeheartedly agree! His 'Line Goes Up' documentary about crypto is also exceptional; very critical but in educated and actually nuanced ways ( [VIDEO] ).

Not my favorite video from Dan Olson but still enjoyable. I highly recommend his video about NFTs, Line Goes Up: [VIDEO] So much time, energy, and resources wasted on this stuff when we have such bigger issues to solve as a collective.

These critics have been around for a while. Dan Olson started researching this video long before this recent crash. You should watch it. [VIDEO]

I think the technical jargon (a mix of crypto, distributed systems, and finance) leads people to believe that what's going on in crypto is smarter than it is. It's what P.T. Barnum might have called "flim flam"; ~ "if you can't dazzle them with brilliance, baffle them with bullshit." Relevant discussion in the "Line Goes Up" Youtube video that's very good but extremely long (2h!) [VIDEO]

I’d say ‘recommendation’ not ‘ad’ :) This was the related section [VIDEO] that lead me down the rabbit hole of watching the whole thing I have no connection other than stumbling across it after seeing this story today and thought the critique tied in well.