SMF - Just Installed!
Started by droqen, November 07, 2021, 02:11:55 PM
QuoteCryptocurrencies and NFTs are an absolute disaster for so many more reasons than the ecological.
QuoteAn individual piece of cryptoart is called an NFT. You can think of each NFT as a trading card or a collectible with an individual value that is also affected by the general market value of NFTs as a concept, the Ethereum network and cryptocurrency in general.[..]
QuoteCryptoart is bought and sold with- and has its value calculated in- Ethereum[..]Numbers vary, but minting artwork on the blockchain uses somewhere between weeks, months, years, (and in rare instances decades) of an average EU or US citizen's energy consumption. (You can see the energy usage and emissions of individual NFTs at cryptoart.wtf.)[This] kind of gleeful wastefulness is [..] a crime against humanity.
QuoteCryptoArt.wtf was designed to share the best available information about the energy use and environmental impact of the growing Proof-of-Work (PoW) based CryptoArt and NFT markets.
QuoteUnfortunately, the information on this website has been used as a tool for abuse and harassment, so I am taking the site offline.
QuoteSince the release of this website in December 2020, there have been a plethora of articles reflecting on the CryptoArt market. For a very brief list of resources, please see:- Toward a New Ecology of Crypto Art: A Hybrid Manifesto: A collection of short essays presenting a number of different perspectives- A guide to more sustainable CryptoArt- Cumulative footprints for Ethereum based PoW CryptoArt marketplaces.- Bitcoin and other PoW coins are an ESG nightmare for a comprehensive survey of the PoW industry- Carbon.fyi to calculate emissions for a single Ethereum wallet or contract
Quote from: Geert LovinkThe crypto cult is now too much of an end in itself, ruled by an invisible "pump 'n' dump" mob whose marketplace is fertile terrain in which to funnel "funny money." After a decade of cloistered currency and token speculation it's time to focus on the user rather than cultivating more toxic masculinity and the hoarding of "digital gold."[..]Yet the magnitude of possibilities is also exciting, and this is why so many young people are involved. We all feel we're part of an alchemical movement aiming to redefine money with the potential for a radical redistribution of wealth.But unless the crypto art community addresses this issue explicitly, it will be complicit and a victim, destined to stand by as money moves on and either solidifies into real assets or evaporates.
QuoteThis address initiated 38 ETH transactions consuming 3,321,669 gas.In total, this address is responsible for 601 kilograms of CO₂ emissions.
Quote from: Greenhouse Gas Equivalencies CalculatorThe sum of the greenhouse gas emissions you entered above is of Carbon Dioxide Equivalent. This is equivalent to: 0.601 Metric TonsCO₂ emissions from 67.6 gallons of gasoline consumed~or~Greenhouse gas emissions avoided by 22.8 Incandescent lamps switched to LEDs
Quote from: Katie Collins, CNETEvery one of Facebook's 2.85 million users produces 12 grams of carbon dioxide by using the company's services every year. That's 25 times better than in 2016, when each user produced a little less than 300 grams of CO2 annually.
QuoteHow much energy do Bitcoin and Ethereum consume? How do they compare to Tezos' energy consumption, and that of newer blockchains?[..]Some estimates of Ethereum's annual energy consumption place it at around 26TWh, a draw of 3 gigawatts, comparable to Ecuador, a country of 17 million people.[..]This gives us an energy consumption minimum for the Tezos network of about 10.5MWh per year, and a possible (though difficult to measure) likely maximum in the range of 350MWh/year.[..]Furthermore, as we note elsewhere, the Tezos network is unlikely to require substantially more energy as it grows, evolves, and gains value. Indeed, thanks to technical improvements, it may require significantly less energy over time.
QuoteWhy does cryptoart waste so much energy?
QuoteHow does cryptocurrency generate value, and why is this a problem?
Quotein a digital context [..] any scarcity is artificial, a process that demands ever more energy, ever more resources lost to continue to operate and return, for no other reason than to insure that tomorrow it will be even more expensive- which makes the wastefulness of today a good investment.This is why cryptocurrency is valuable. [..]All that cryptocurrency does is abstract resources into a market by making those resources unavailable to the future.
QuoteAren't there alternatives to Proof of work?[Ecological problem aside] there are other, obvious problems with PoS (and various other proofs), which are that to more or less degrees they don't address any of the problems with access to cryptocurrency relying on existing wealth.[..]there is not a schema that doesn't reward those who already are already wealthy, who are already bought in, who already have excess capital or access to outsized computational power. Almost universally they grant power to the already powerful.
QuoteUnlike a Ponzi scheme, there is no guarantee that it will all collapse someday- but the value continuing to rise absolutely depends on ever more users joining the network, using coins, and competing to mine them.
Quotethe exact same system with the outsized computational power removed is still one that rewards early adopters and those with existing wealth, all on the backs of people convinced that if they join today, maybe they too will get rich.
QuoteOkay, now cryptoart.I spent the first half of this essay focused on cryptocurrency rather than cryptoart for two reasons: the first is because to understand the problems with cryptoart, it is essential to understand how value functions in a cryptocurrency marketplace.
Quoteartists pay "gas fees"[..]These fees [..] vary between $40-$1000. These are up front buy-in costs generally borne by the artist that have no guarantee of being returned via sale- and many NFTs sit minted but unsold, with the artist having paid for the privilege.
Quotethere is nothing in place within the technology of an NFT to guarantee that they respect existing copyright (artists have already seen their work minted and sold without their consent, sometimes still with their names attached!)
Quote from: Everest PipkinI've been working in digital spaces making artwork since well before cryptocurrency was around, and lack of scarcity is the only thing we've got.Digital files don't have that much going for them. [..]What digital files and digital artists do have is duplicatability. [..]This is it! This is the one thing!
Quote from: PipkinWhat digital files and digital artists do have is duplicatability. There is no original file. When I make a copy of a text document, 3d model, or game and give it to you we both have the original. We're both having a first-hand experience. We both are engaging with the work wholly as itself, not second-hand documentation.[..] Digital artists have media that can proliferate over a network and be held by many people at once without cheapening or breaking the aura of a first-hand experience.
QuoteAnd yet, I see you live in society.
Quotecryptocurrency and cryptoart are not bad for the environment accidentally- they are not simply bolted onto this blundering machine and cannot just be taken off (the technology of a proof of work-based system almost guarantees this). And even if we manage to reduce those costs to a palatable number, cryptocurrency AND cryptoart are still fundamentally valuable because they burn energy.To repeat the common maxim, the purpose of a system is what it does. Cryptocurrencies turn sunk energy cost into futures.If that is the value system we are building, we are doomed.
Quote[..] beyond the ecological the remaining qualities of cryptoart are deeply worrying.
QuoteCryptoart remakes digital artworks as primarily tokens of monetary worth, content and concept secondary to an asset that has market value.Cryptoart creates artificial scarcity for digital objects, creating an "original" which can be owned for the purpose of resale.
QuoteCryptoart recreates some of the worst aspects of existing art markets, pitting the super-stardom of those who have gotten lucky or who already had money and connections to play with against the realities of countless others who will see no such return.
QuoteCryptoart offers no intellectual property protection and there is no regulatory structure in place to keep copyrighted materials from being minted into and sold as NFTs, with or without the consent of the creator or copyright holder. Once an NFT is minted, there is no way to remove it from the blockchain or secondary market.Cryptoart smart contracts offer no legal protection, and any talk of contracts baked into the NFT "requiring resales to cut in the artist" or "compensate gallery workers" depend entirely on the goodwill of the purchaser.Cryptoart lets a few artist early adopters get rich from a system made to reward investors, not artists.
QuoteI understand first-hand the desperation of trying to live in a world that has systemically undervalued and undercut the arts, and how compelling a vision of escape can be. I truly do want to live to see the world that rewards artists for making the work they would like to make without asking them to jeopardize their health, stability, and creative integrity. This is not just my political belief- it is a desire that would directly benefit me and those I love. It is a future I have to believe in to keep going every day.
QuoteLet this whole horrible chapter of history convince you that money is fake, we can do anything with it we want, and that we do not want cryptoart.