Lotus NFTs Anyone?

[Wolfram]

You named the one tech — Git — whose most efficient use case is in GitHub , a centralized store of a merkle tree, because it isn’t efficient to store in a distributed way.

You just made my point for me.

I thought your point was "it's based on 30 year old+ technology called Merkle Trees, which sucked *then* and didn't get used for anything other than aggregating log files"...

I just gave one example to the contrary, based on software that I and over 70 million other developers use every day.

 

[Shyatic]

I thought your point was "it's based on 30 year old+ technology called Merkle Trees, which sucked *then* and didn't get used for anything other than aggregating log files"...

I just gave one example to the contrary, based on software that I and over 70 million other developers use every day.

What is git, if not an aggregation of logged changes?

The real complaint folks have is on blockchain and decentralized models, which are not efficient and even more so using Merkle Trees.

GitHub is good because it’s centralized, blockchain and every other crypto is bad because it’s decentralized. The transaction times alone make it laughable. Git doesn’t require short transaction times because of its use, whereas financial transactions? They need an insane amount of speed.

 

[eriegz]

Merkle Trees are widely used in software applications where data is stored and transferred between multiple computers, because they work and are efficient. For example, Git, which is used by over 40% of all professional software developers to collaborate and share source code, is based on Merkle Trees.

An NFT (non-fungible token) is simply a token that represents something unique. A £10 note is fungible: one note has exactly the same functionality as any other £10 note. A one of a kind trading card or a Rolex watch's certificate of authenticity, however, is non-fungible: it is unique and is not equivalent to any other. Personally I don't 'get' most crypto NFTs. But then I don't 'get' trading cards either. But using an NFT instead of a piece of paper for a certificate of authenticity, which can be cryptographically assured as unique and ownership securely transferred, makes perfect sense to me.

Over 18,000 developers are actively working on crypto projects (not the blockchains themselves, I mean people who are building applications and services that run on blockchains) ... not sure they're all laughing their asses off. That's where the inherent value comes/will come from: the ecosystems and applications that are being built on blockchain. The Internet was entirely worthless until people started putting services and applications on it. Crypto blockchains are no different.

It's early days for blockchains, just like the early days of the Internet when simply adding ".com" to a company name would double the share price. But far too early to dismiss as just hype.

It's not too early to make valid, concrete criticisms about NFTs / crypto / web3, which I and others have done repeatedly in this thread; criticisms which I've yet to see anyone refute.

 

[Shyatic]

It's not too early to make valid, concrete criticisms about NFTs / crypto / web3, which I and others have done repeatedly in this thread; criticisms which I've yet to see anyone refute.

I think the purposeful move away from a criticism of crypto to show “hey something else we aren’t talking about!” is a rather tell tale sign that crypto itself cannot be redeemed without comparing it to technologies that have nothing in common with it, and no similar use case.

Software developers who write code for a living vary wildly and those that understand the underpinnings of the actual technology being used yes, are in unison of their general laughter about crypto. Not everybody is a grade A software dev, some people blindly write code and don’t architect systems.

 

[Andrew]

They would do ANYTHING just to NOT deliver those cars on time to customers...

 

[EspritGuy]

Merkle Trees are widely used in software applications where data is stored and transferred between multiple computers, because they work and are efficient. For example, Git, which is used by over 40% of all professional software developers to collaborate and share source code, is based on Merkle Trees.

An NFT (non-fungible token) is simply a token that represents something unique. A £10 note is fungible: one note has exactly the same functionality as any other £10 note. A one of a kind trading card or a Rolex watch's certificate of authenticity, however, is non-fungible: it is unique and is not equivalent to any other. Personally I don't 'get' most crypto NFTs. But then I don't 'get' trading cards either. But using an NFT instead of a piece of paper for a certificate of authenticity, which can be cryptographically assured as unique and ownership securely transferred, makes perfect sense to me.

Over 18,000 developers are actively working on crypto projects (not the blockchains themselves, I mean people who are building applications and services that run on blockchains) ... not sure they're all laughing their asses off. That's where the inherent value comes/will come from: the ecosystems and applications that are being built on blockchain. The Internet was entirely worthless until people started putting services and applications on it. Crypto blockchains are no different.

It's early days for blockchains, just like the early days of the Internet when simply adding ".com" to a company name would double the share price. But far too early to dismiss as just hype.

Re: your last paragraph
Didn't have my reading glasses handy. You said .con right?
😀

 

[Lotustoronto]

My concern about comparing NFT's to other tech / collectible item is the finite ability of NFT's. Let's say you own an NFT of Mike Tyson's boxing gloves. In theory there can be many different versions of this item re-made just slightly different. If you owned the pair of gloves he actually used in a boxing match it is 1 of 1. Sure other gloves exist, but not one he used.

It's like owning a Cristiano Ronaldo Man U jersey or Owning a Match worn Man U jersey. One can be re-created easily one is much rarer. Maybe I don't understand the finite ability of NFT creation. Much like the Metaverse, why can't there be 100's of Metaverse's? Who says apple/google or other tech companies create their own. No different than Atari/Sega/Nintendo or VHS/DVD etc. Tech moves exponentially faster than ever and I am not sure that what we are seeing in the current block chain / NFT world is the version that will be used in the future.

Even the .com boom was finite. You could only own so many domains that were sought after that ended in .com ....

 

[RENDERMAN]

was the NFT drop delayed like the car? I want to invest

 

[Captain.Kirk]

was the NFT drop delayed like the car? I want to invest

Hey man, it’s just like the Emira. It’s coming soon-ish!

 

[Lowtush]

Remember around this time a year ago when Lotus announced they'd be releasing NFT's?

LOL

Did anyone here buy (or know someone who bought) one?

 

[EspritGuy]

Remember around this time a year ago when Lotus announced they'd be releasing NFT's?

LOL

View attachment 29372View attachment 29373

Did anyone here buy (or know someone who bought) one?

NFT = New Financial Tool
Now Finished Trading