xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
xuanling11Crypto Paycheck
Photo by Mario Gogh on UnsplashEmployees will receive their paycheck in the period as a reward for their work. However, the employer wants to pay less to employees so that they can have maximum profits. The tension between working and anti-working has increased ever since. TL;DR Nobody wants to work unless they can pay fairly. Fiat payment may not be sustainable to satisfy what workers can contribute if the employer continues paying less and gaining more from profits. Employees will want thei...
xuanling11Defi Review #4: AAVE The Defi Lending Services
AAVE is a decentralized finance lending service before decentralized finance even existed. It is an innovation lending service in crypto and one of the first kind. However, the lending service may only restrict to the crypto community and it may expand into the traditional financial field later. TL;DR AAVE is a crypto lending financial service which to provides lending services to the crypto community. They focus on security and smart contract lending may be the future of financial services. ...
xuanling11Stablecoin Crisis
Stablecoin is in the crisis mode. The most reputable stablecoin USDC is depegged. It is all triggered by the traditional bank collapse - Silicon Valley Bank or SVB collapse. Why traditional bank collapse impacts crypto stablecoin? Let's sort this out and reveal how stablecoin operates. First, why SVB collapse? The short answer is overleveraged. SVB is one of the 20 largest commercial banking in the United States. Some even estimate the bank owned half of startup assets. Bank operated in ...
Share Dialog
Share Dialog
Subscribe to xuanling11
Subscribe to xuanling11
<100 subscribers
<100 subscribers
When you hear about NFTs, you immediately feel they will make you rich overnight.
At least NFTs sold in 2021 was crazy.
Why do people own NFTs?
There are many reasons, but four major ones stand out:
✅ to access exclusive perks
✅ to profit
✅ to preserve the value
✅ to secure digital ownership and rights
But, it does not explain what I owned when I purchased the NFTs.
You are correct, and that is the beauty of owning an NFT! It is a very blur boundary between owning and having.
So what do you actually own?
https://twitter.com/giggukaz/status/1491744614856151043
Even though people believe that NFTs are Non-fungible Tokens that cannot be replicated through code, the artwork that the code carries on can be duplicated.
You own a string of code despite an immutable digital signature on it.
That does not change the fact the artwork can still be replicated on the internet.
To become a smart contract Ponzi Scheme, you need to satisfy 4 conditions:
1️⃣ the contract distributes money among the investors
2️⃣ the contract receives money only from investors
3️⃣ each investor makes a profit if enough investors invest enough money
4️⃣ the new investors join the contract, the greater the risk of losing investments
It is clear that conditions 1 and 2 are easily met because the NFTs are running through a smart contract within the blockchain that is narrow to only people who control their own wallets.
Conditions 3 and 4 will trigger once rug pulls happen.
https://twitter.com/Web3zy/status/1553143569723994112
No, it does not automatically grant rights of artwork ownership to buyers.
Two different rights need to distinguish here:
👉 Digital proof of ownership
👉 Intellectual property right
Once you purchase the NFTs, you have digital proof of ownership. However, it does not include IP rights automatically.
It means you will face trade marks issues and lawsuits regard of IPs.
That means you have only rights to own but not exclusive rights to reproduce under your unique wallet address.
So, the question back to square 1, why buy NFTs?
You can:
👉 support artists
👉 enjoy collecting arts
👉 bragging about it
The most important thing is to brag about it.
If you enjoy reading my articles, buy me a coffee here.
Photo by Tim Mossholder on Unsplash
Further readings:
When you hear about NFTs, you immediately feel they will make you rich overnight.
At least NFTs sold in 2021 was crazy.
Why do people own NFTs?
There are many reasons, but four major ones stand out:
✅ to access exclusive perks
✅ to profit
✅ to preserve the value
✅ to secure digital ownership and rights
But, it does not explain what I owned when I purchased the NFTs.
You are correct, and that is the beauty of owning an NFT! It is a very blur boundary between owning and having.
So what do you actually own?
https://twitter.com/giggukaz/status/1491744614856151043
Even though people believe that NFTs are Non-fungible Tokens that cannot be replicated through code, the artwork that the code carries on can be duplicated.
You own a string of code despite an immutable digital signature on it.
That does not change the fact the artwork can still be replicated on the internet.
To become a smart contract Ponzi Scheme, you need to satisfy 4 conditions:
1️⃣ the contract distributes money among the investors
2️⃣ the contract receives money only from investors
3️⃣ each investor makes a profit if enough investors invest enough money
4️⃣ the new investors join the contract, the greater the risk of losing investments
It is clear that conditions 1 and 2 are easily met because the NFTs are running through a smart contract within the blockchain that is narrow to only people who control their own wallets.
Conditions 3 and 4 will trigger once rug pulls happen.
https://twitter.com/Web3zy/status/1553143569723994112
No, it does not automatically grant rights of artwork ownership to buyers.
Two different rights need to distinguish here:
👉 Digital proof of ownership
👉 Intellectual property right
Once you purchase the NFTs, you have digital proof of ownership. However, it does not include IP rights automatically.
It means you will face trade marks issues and lawsuits regard of IPs.
That means you have only rights to own but not exclusive rights to reproduce under your unique wallet address.
So, the question back to square 1, why buy NFTs?
You can:
👉 support artists
👉 enjoy collecting arts
👉 bragging about it
The most important thing is to brag about it.
If you enjoy reading my articles, buy me a coffee here.
Photo by Tim Mossholder on Unsplash
Further readings:
No activity yet