2021-11-15 17:11:42
2021-11-15 17:11:41
2021-11-15 17:11:41
2634277
Please shut up about cryptocurrency, NFTs, and the ‘Web 3.0’
https://www.xda-developers.com/cryptocurrency-nfts-web-3-0/
"The primary issue with most blockchain implementations, including Bitcoin and Ether, is that they use Proof of work to verify transactions and other data. It’s a computational puzzle, and as more and more records are added to a blockchain (e.g. more people owning and mining Bitcoin), data takes longer to verify, which means computers have to use exponentially more electricity."
"Back in September, I received an email from a company (which I will not name) with the headline, “9/11 Day Partners with [Company name] to Produce First-Ever NFT Metaverse Multi-Game Fundraiser to Support Our Heroes on 20th Anniversary of September 11th.” Nothing says honoring the deaths of almost 3,000 people in 2001 like digital collectibles that cost my yearly power usage to validate."
"Web3 is a concept for websites growing in popularity that will probably function in the same way, with the blockchain functioning as a DNS service, but no one has actually built a functioning version of it yet."
"Even besides the environmental impact of most blockchain implementations, NFTs represent the exact scarcity that modern communication tools and networks were created to prevent. On top of all that, I still can’t buy a new graphics card for my PC, because crypto miners are hoarding all of them."
"The primary issue with most blockchain implementations, including Bitcoin and Ether, is that they use Proof of work to verify transactions and other data. It’s a computational puzzle, and as more and more records are added to a blockchain (e.g. more people owning and mining Bitcoin), data takes longer to verify, which means computers have to use exponentially more electricity."
Nothing says honoring the deaths of almost 3,000 people like digital collectibles."Back in September, I received an email from a company (which I will not name) with the headline, “9/11 Day Partners with [Company name] to Produce First-Ever NFT Metaverse Multi-Game Fundraiser to Support Our Heroes on 20th Anniversary of September 11th.” Nothing says honoring the deaths of almost 3,000 people in 2001 like digital collectibles that cost my yearly power usage to validate."
"Web3 is a concept for websites growing in popularity that will probably function in the same way, with the blockchain functioning as a DNS service, but no one has actually built a functioning version of it yet."
"Even besides the environmental impact of most blockchain implementations, NFTs represent the exact scarcity that modern communication tools and networks were created to prevent. On top of all that, I still can’t buy a new graphics card for my PC, because crypto miners are hoarding all of them."