I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.
Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.
What other applications do you guys see for NFTs?
Almost everything that they can apply is possible to be added in NFTs. IMHO, next time it could be memberships that are legitimately coming from huge companies that are giving subscriptions. Anything that these companies can capitalize and monetize, they might do it at their own will. The possibility of it is endless until we see some huge drop for most of them. But with those collectibles, they seem to be unstoppable for now. I can totally see the need for memberships, but once you redeem it, I wonder what the NFT will look like. Will it get burned? And with gas fees it almost doesn’t make sense to be minting NFTs for applications like this |
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I don’t know about you, but it looks like we’re in the ICO stage (2017) stage of NFTs. Quick cash grabs, high floor prices, etc.
Beyond art, I see so many other applications for NFTs. Example: Michael Jordan creating a fan engagement platform with NFTs, companies like 4K turning physical goods into NFTs to leverage, music platforms that sell NFTs to redeem for experiences, etc.
What other applications do you guys see for NFTs?
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There’s lots of considerations. Technical development, team collaboration, marketing, building in the right niche, serving customers with real needs. All of this is what makes it hard to start a business let alone innovate in a budding industry/tech. Which project are you talking about?
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Ya I saw their launch today. Got some cool watches that I want but I think they said sellers are getting their prices listed in the next day or so, so I’m waiting on that to decide which one I want
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Is it really true that Ciphertrace will be responsible for helping to set this up? I do not think it is true. They would help maybe but they cannot be the ones doing it all and taking the lead can they? Does not make sense a private company is doing this for such an organization. Maybe I do not understand how it works.
ciphertrace isn't regulating or enforcing anything. this is what's happening: the FATF travel rule---if governments pass it as law---will require exchanges to obtain KYC about account holders and also KYC about the recipient of external withdrawals. so ciphertrace is creating a software for crypto services so they can confidentially verify that the service sending a transaction has completed the extended KYC demanded by the travel rule. this model won't necessitate constantly sending KYC data back and forth between services, which is the problem ciphertrace is trying to solve. Thanks so much for clarifying what exact ties CipherTrace has with the travel rule and implementing regs |
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I would look into investing and possibly holding NULS
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NULS would be one to check out
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Looks like the article is just putting the blame on cryptocurrencies on the growth of transactions in the dark web. But I don't think it's right to blame cryptocurrencies for it since they are just the assets being traded and not the drug itself being sold. I know it makes the transaction a lot faster but how do you supposed this drugs are being sent internationally? Of course logistics are also involved with this trade and one way to counter this market is tightening their customs on the imports happening. Let's not put the blame on crypto as even if they ban all of them I doubt the online drug trade would stop because of it.
I agree with you that the article paints crypto in a negative light being associated with drug trade but honestly I think it's intention was more so to show that with blockchain we are able to positively track the movement on drugs. Using technology as adanced as Ciphertrace's. |
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I think all art is fantastic! I really appreciate you trying to make people feel through your art
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With Ciphertrace's recent AML report showing $4.3 billion this year of stolen funds most of which are taken directly from exchanges it would make sense there are companies coming in to help protect traders. Fireblocks offers coverage to those who are looking to move their crypto across multiple exchanges. The selling point is that coins will be kept secure and avoid the need for a trader to sign in to multiple platforms. What are your thoughts? https://decrypt.co/8959/fireblocks-security-platform-expands-coverage-to-20-crypto-exchanges |
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the project with the most ambitious plans I find is NULS. They're supporting their own crowdfunding system as well as being one of the few projects ability to be interoperatable with other chains
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Thank you for your advice. Do we believe that 2FA is strong enough though? I thought that is what became compromised during the Binance hack
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CipherTrace just published their Q2 Cryptocurrency AML Report and found it interesting that Bitcoin still reigns king in dark markets and cybercrime. Most people associate privacy coins even just 4% involve Monero.
Even in the case of malware and ransomware, ETH used in only 1% of instances and BTC used in 98% of cases.
I see this as a vague report and i am not sure how they got these estimates which is being written in that article, there is no specification about how many sites they conducted their survey in the dark markets to come to a conclusion that bitcoin is still reigning in dealing illegal substances including drugs. If there is a detailed report on the amount of case reported or the study they made then we can make a conclusion other than that it is just a fake report  . That's an interesting thought. I don't see how a reputable company would put out a 'fake report'. I feel like Ciphertrace isn't legally allowed to disclose the names of the markets and the sources because ultimately they are trying to find a balance between privacy and protecting people. |
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This article states that the World Economic Forum shared that attackers managed to compromise 2 billion data records in 2017 and 4.5 billion in the first half of 108 blaming that Bitcoin could be a big part of it. Ciphertrace recently reported a $3 billion loss due to cybercrimes and mentioned in their report that BTC still reigns the king of the dark web. What are your thoughts on this? Do you think cybercrime has increased because of crypto? https://insidebitcoins.com/news/security-experts-tell-why-bitcoin-is-a-game-changer-for-cybercrime/235786 |
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I use my coinbase, metamask and dapper wallet a lot
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NULS for sure. They're in the process of launching their mainnet
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