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Line Goes Up – The Problem With NFTs

Name: Line Goes Up – The Problem With NFTs
Uploaded: 2022-01-21T17:00:03Z
Duration: 2 h 18 min 23 s
Channel: Folding Ideas
Description: Dan Olson presents a comprehensive, two-hour critique of the technical, economic, and ideological flaws of NFTs, Web3, and cryptocurrency.

Folding Ideas

1.1M subscribers • 4 videos on Hallway

YouTube

Recommended by 12 people: 12 on Hacker News.
Presented by Dan Olson, video essayist
An opinion. It argues one side of a question engineers disagree on.

Beginner. No background in the topic needed.

18M views4 years ago12 recommendations

Security Distributed systems Cryptography Consensus: Raft and Paxos The tech industry

Dan Olson presents a comprehensive, two-hour critique of the technical, economic, and ideological flaws of NFTs, Web3, and cryptocurrency.

If someone pitches you on a "great" Web3 project, ask them if it requires buying or selling crypto to do what they say it does. Sources and Further Reading web3isgoinggreat.com/ tante.cc/2021/12/17/the-third-web/ davidgerard.co.uk/blockchain/2021/03/11/nfts-crypto-grifters… amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-bu… stephendiehl.com/blog/crypto-absurd.html blog.mollywhite.net/blockchains-are-not-what-they-say/ motherjones.com/politics/2021/11/who-goes-crypto-eth-bitcoin… twitter.com/davetroy/status/1478017698676228099?s=20 davidgolumbia.medium.com/cryptocurrency-is-garbage-so-is-blo… marker.medium.com/fintech-is-a-scam-a-listicle-in-eight-part… naavik.co/business-breakdowns/axie-infinity/#axie-decon= gawker.com/culture/the-future-is-useless-expensive twitter.com/NFTtheft theatlantic.com/ideas/archive/2021/04/nfts-werent-supposed-e… gamesindustry.biz/articles/2021-11-05-baseless-nft-hype-hits… technollama.co.uk/platform-is-law-the-cautionary-tale-of-sto… davidgerard.co.uk/blockchain/2021/02/12/libra-shrugged-chapt… twitter.com/Bitfinexed Written and performed by Dan Olson Crowdfunding: patreon.com/foldablehuman Twitter: twitter.com/FoldableHuman Preface 0. In 2008 The Economy Collapsed 1. Bitcoin 2. Ethereum 3. The Machine 4. NFTs Exist To Get You To Buy Crypto 5. The Unbearable Cringe Of Crypto 6. A Self-Organizing High Control Group 7. Crypto Reality 8. There Is No Privacy On The Chain 9. If This "Looks Like Scam" Then Every NFT Room I'm In Looks Like Scam LOL 10. Play To Earn Exists To Get You To Buy Crypto 11. We're All Gonna Make It And By "We" I Mean "Us" Not You 12. DAOs Exist To Get You To Buy Crypto 13. I Know It's Rigged, But It's The Only Game In Town

Why it's here

12 people recommend this, 1 disputes it

What people say. Highly recommended as one of the most thorough, incisive, and well-researched critiques of the Web3 and NFT ecosystem.

code_biologiston Hacker News • 4 years agoRecommends

On “Crypto: When Will the Madness Stop?”

Folding Ideas' new (2 hour podcast-ish) video "The Problem With NFTs" is a really good critique of cryptocurrency: link to this 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.