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Reply to @silverpill@mitra.social
CaohuaK ❄️@caohuak@moon.lonewolf.zone (2026-04-27 04:36:42)
@silverpill @jupiter_rowland media's negative portrayal of cryptocurrency and blockchain has created a stereotype for most users. I sometimes see Mastodon server rules that explicitly forbid the promotion of these materials. :lihkg_dragon_drink:
tbh when i I first saw the mitra-web three years ago I thought it looked a bit weird but it wasn't a big deal.
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Jupiter Rowland@jupiter_rowland@hub.netzgemeinde.eu (2026-04-27 18:30:31)
@caohuak @silverpill Well, to be honest, that crypto stuff doesn't have its bad rep entirely undeservedly. It appears to be used as a cash grab or for get-rick-quick schemes more often than not.
The massive gambling with the big cryptocurrencies Bitcoin and Ethereum that causes both to be highly volatile.
Gigantic Ethereum mining farms with countless high-end graphics cards that eat up more electricity than a bigger town, often even fossil or nuclear energy because there simply isn't enough renewable energy available where they're located.
NFT hypes. Masses of NFTs that were procedurally generated and sold for insane amounts of money. See Bored Apes. They've made a few people very rich with next to zero effort. Others have lost a lot of money because these NFTs are literally absolutely worthless today.
And this is a field that I'm pretty familiar with: The Metaverse. Mind you, I'm not talking about Facebook, Instagram, WhatsApp and Threads. That isn't the Metaverse. I'm not talking about "the Metaverse" a.k.a. "the Meta Metaverse" a.k.a. "the Facebook Metaverse" a.k.a. "Zuckerberg's Metaverse" either which, by the way, is actually named Horizon.
No, I'm talking about cryptobros jumping upon the Metaverse bandwagon, hoping to squeeze some money out of it.
The blueprint of this all has to be a virtual world named Decentraland which was opened in February, 2020, just in time for the COVID-19 pandemic that caused real-life social interaction to grind to a complete halt and made virtual worlds the more popular.
In fact, it was a crypto platform before it became a virtual world. In 2017 already, its own cryptocurrency MANA, which is on the Ethereum blockchain, was first traded to raise money to get the world itself started. And even as a virtual world, it's a crypto platform because Decentraland is pretty much all about minting and selling NFTs.
Part of its concept is that deeds to parcels of land are minted as NFTs and then sold. And these parcels aren't even tha
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silverpill@silverpill@mitra.social (2026-04-28 04:11:55)
@jupiter_rowland @caohuak Blockchain technology became victim of its own success. It attracted so many gamblers, venture capitalists and scammers that they crowded out the cypherpunks who created the thing in the first place. Almost every crypto project has been captured and exploited. The only ones who still carry the torch are those who are unpalatable to normies because of associations with criminal activity.
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>Decentraland
I like Decentraland, and spent quite some time exploring their world. It is not about selling NFTs, although it is true that NFTs were integrated into the world. The idea of tokenizing land didn't work well and might be the main reason Decentraland is dying, but I think that using NFTs for wearables makes a lot of sense.