I know NFTs are stupid, but...
0 sats \ 8 comments \ @timechain 1 Dec 2022 bitcoin
A legit purpose they have served is acting as a receipt that someone supported an artist. (Pictures of rocks that computers produce don't count.) What if this could be used to support Bitcoin development?
NFTs could be minted in different increments, (a green border means you donated 69,000 sats, a blue border means you donated 420,000 sats, etc) and they can serve as a "badge" that someone donated to support federated chaumian mints, Pickhardt payments, Statechains, or any project an open source developer is working on. Each project can have a different badge.
It uses people's desire to flex to motivate Bitcoin/LN development. They can be issued on Bitcoin in various ways, including Counterparty, Liquid, or maybe RGB or TARO in the near future.
If people decide they don't want to contribute to NFT Mania, they can even make the NFTs non-transferrable, ensuring that the address holding the badge personally supported the developer (although the possibility of resale could motivate more buyers).
What do you guys think?
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15 sats \ 1 reply \ @DarthCoin 1 Dec 2022
You start by being a "timechain" and end up being a shitcoiner... SHAME "supporting Artists" have nothing to do with useless NFTs.
There are many other ways where artists can be rewarded or sell their work, but not bullshit NFTs.
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0 sats \ 0 replies \ @timechain OP 1 Dec 2022
I understand if you feel being anti-NFT is more important than furthering Bitcoin and Lightning development.
I own no NFTs. I don't wish to profit from NFTs.
Just brainstorming a way to help the devs.
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0 sats \ 0 replies \ @phygit 1 Dec 2022
NFTs are not stupid (far from it). NFTs, including their associated data, can be entirely stored onchain, and some are (OnChainMonkey, for instance). Many NFTs have their data stored on IPFS (quite different solution from DigitalOcean/AWS...).
No particular opinion on OP's idea but why not. Anything that can bring together the 2 worlds, NFT and Bitcoin/LN, is going in the good direction imho.
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0 sats \ 0 replies \ @kilianbuhn 1 Dec 2022
Only thing NFTs are good for is identifying apes on Twitter 😂🤣🤣
Maybe once was based on good intentions but is based on central entities in every implementation
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0 sats \ 3 replies \ @nerd2ninja 1 Dec 2022
The problem with even this idea, is that NFTs point to a picture that is not on the global chain. NFTs will point to websites, Digital Ocean, AWS, and all manner of things that the hoster could one day decide to just stop paying for. To decide to stop hosting your picture.
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15 sats \ 2 replies \ @timechain OP 1 Dec 2022
I think this matters far more if the main reason for the transaction is buying the NFT. (Which is why most NFT sales are dishonest.) If the main reason for this transaction would be a donation, the badge is merely a thankyou card.
If this model were to be adopted, there would always be projects to fund, and a portion of funds could go to hosting the image files.
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15 sats \ 1 reply \ @nerd2ninja 1 Dec 2022
Look at the achievements on my character page https://account.aq.com/CharPage?id=Peter%20Giley
This was done without the use of an NFT. I get to show off my in game achievements, and if the website went down, I would not be able to do that and the same can be said for NFTs.
Sometimes, there's just a better solution to the problem, than the one everyone is hyped about.
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0 sats \ 0 replies \ @timechain OP 1 Dec 2022
Yeah, I'm well aware of NFT's mortality.
But you know how if you donate to veterans, you get a poppy? Or donate to ASPCA, you get a teeshirt? Just trying to think of something like that, where people's desire for clout ends up in helping Bitcoin.
Like if CZ or Brian Armstrong claims to be pro Bitcoin, we can say "not until you support Bitcoin FOSS projects by buying a ____" Both owe their fortunes to Bitcoin, but I haven't heard of the ever giving to a Bitcoin-specific fund.
Would love to see some viral gimick that siphons some money out of the cryptofluencers who claim to love Bitcoin.
So many people work a couple hours a night for free on Bitcoin and have normie day jobs. Would love it to get a few more full time. That LND bug last month shouldn't have happened, twice.
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