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#cryptocurrency#what is cryptocurrency#how cryptocurrency works#blockchain technology#crypto basics#decentralized currency#digital currency#Bitcoin#Ethereum#crypto transactions#cryptocurrency explained#crypto wallets#crypto mining#proof of work#proof of stake#cryptocurrency guide#beginner's guide to crypto#how to use cryptocurrency#crypto security#blockchain ledger
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SEC Drops Big News For Bitcoin and Litecoin Miners
The United States Securities and Exchange Commission (SEC) has continued on its path to easier crypto regulations and greater clarity to benefit the entire industry. In a recent development, the agency disclosed that proof-of-work network operations do not fall under securities transactions. This statement quickly sent excitement across the Bitcoin and Litecoin mining community as their…
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⛏️ What Is Crypto Mining? (No, It’s Not Like Gold Mining!) ⛏️
People say crypto is “mined”—but what does that actually mean? 🤔
✅ Mining = Computers solving complex math problems to verify transactions. ✅ Miners secure the network & get rewarded with crypto. ✅ Bitcoin mining = Proof-of-Work (PoW). ✅ Ethereum moved to Proof-of-Stake (PoS) → No more mining!
🚀 But mining isn’t free… ❌ It takes A LOT of energy (Bitcoin mining = entire country’s power usage). ❌ Requires expensive hardware. ❌ Newer cryptos are using greener solutions.
📩 Do you think mining is sustainable, or should crypto move away from it? Let’s talk! 🔁 Reblog if you’ve ever considered mining crypto!
#crypto#cryptocurrency#bitcoin#blockchain#crypto for beginners#crypto mining#crypto education#investing#proof of work#Crypto Made Simple#ethereum#passive income#crypto investing#finance#technology#crypto trading#DeFi#crypto awareness#crypto markets#sustainable crypto
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dahabminers.com
#Bitcoin Mining#Cryptocurrency Mining#Blockchain Technology#Mining Hardware#ASIC Miners#GPU Mining#Mining Profitability#Renewable Energy for Mining#Crypto Economics#Decentralization#Mining Pools#Hashrate#Mining Algorithms#Proof of Work (PoW)#Bitcoin Economics#Crypto Market Trends#Mining Challenges#Green Energy Solutions#Mining Security#Crypto Regulatory News
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Bitcoin and endless inflation - Cointribune
All euros, dollars, yuans, or francs in circulation come from debts. In the fiat system, money is entirely created from debts.
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#Bitcoin#AI#Proof of work#Pawns#Youtube#Hackers#Free Will#Spirit#Data#Truth#Nexus#Zero Point#Zero point energy#Zpe#Think twice#Quantum#Uncertainty principle#Heisenberg#Anonymous#Mighty mouse#Maud'dib#Higher Dimensions#Bending Reality
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DebitMyData Custom Logo and Facial Recognition-You Are the Product! Get Paid for Your Data!
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Welcome to the official YouTube Channel of DebitMyData! Debit My Data is your ultimate hub for understanding our groundbreaking peer-to-peer platform that's redefining the crypto space. With our platform, we merge the power of cryptocurrency and Non-Fungible Tokens (NFTs), all driven by advanced technology to innovate digital transactions and content sharing. From insightful tutorials on creating your custom logo or facial recognition NFTs, to deep dives into our unique Proof of Work (PoW) and Proof of Future (PoF) strategies, our channel is your one-stop guide. We aim to equip you with the right knowledge to fully engage with all the possibilities DebitMyData offers. If you are a content creator looking to monetize your NFTs, an advertiser aiming for impactful reach, a crypto enthusiast keen to learn more, or someone intrigued by the potential of digital finance, we invite you to join us on this thrilling journey. Don’t forget to subscribe and tap the bell icon to stay updated on our latest videos and announcements.
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Learn about DebitMyData's custom logo and facial recognition technology that allows you to get paid for sharing your data. Your data is valuable, so why not get compensated for it? Watch this video to find out how DebitMyData is revolutionizing the data sharing industry and giving you more control over your personal information. Opt in now and start earning for your data!
Unlock the power of your data with DebitMyData! Our custom logo and facial recognition technology allows you to control and monetize your own personal data. Say goodbye to being a product and hello to getting paid for your valuable information. Join the data revolution now with DebitMyData!
Introducing DebitMyData - a revolutionary platform that allows you to get paid for your data! Our custom logo and facial recognition technology ensures your data is secure and always in your control. With DebitMyData, you are no longer the product, you are the owner. Sign up now and start earning for your valuable data!
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Watch More of My Videos And Don't forget to "Like & Subscribe" & Also please click on the 🔔�� Bell Icon, so you never miss any updates! 💟 ⬇️
🔹🔹🔹Please Subscribe to My Channel:
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👉👉 Request to watch top 6 videos of my channel ..... 👇👇
🎬 Structure and Interpretation of Computer Programs: Structure and Interpretation of Computer Programs
✅ https://youtu.be/eCKTZYBrfHk
🎬 DebitMyData Custom Logo and Facial Recognition-You Are the Product! Get Paid for Your Data!
✅ https://youtu.be/26aLXl7kv3M?si=Bzc_bv0PZ0S7k-qC
🎬 DebitMyData Proof of Work (PoW) Cryptocurrency and Proof of Future (PoF)
✅ https://youtu.be/Qrx9yGXEQmw?si=7SJH_EdX6U2LBIzt
🎬 DebitMyData Custom Logo and Facial Recognition Groundbreaking Platform
✅ https://youtu.be/KQvGnMAQ3rA?si=pljRNNLNKEpMm6W_
🎬 DebitMyData Custom Logo and Facial Recognition Monetizes NFTs
✅ https://youtu.be/wB_IrUY7IWg?si=8heN7uk46bC9mMOd
🎬 DebitmMyData Custom Logo and Facial Recognition 20230621 012609
✅ https://youtu.be/z8hU1VwRzE4?si=BxC_MqUHU_NwjVBy
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Unveiling the Mechanics of Bitcoin Mining: Deciphering the Cryptocurrency Backbone
In the ever-expanding universe of cryptocurrencies, Bitcoin stands tall as the pioneer, the trailblazer that ignited a revolution in decentralized digital currencies. At the heart of this revolutionary system lies Bitcoin mining, a process as fascinating as it is crucial to the functioning of the entire network. Let’s embark on a journey to unravel the intricate mechanics of Bitcoin mining and…

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Unlocking Cryptocurrency's Future: Expert Predictions and Insider Insights
In a recent Coin Bureau Clips YouTube video, hosts GM Jesse and Jessica provide valuable insights into the world of cryptocurrency, touching upon topics such as Bitcoin price predictions and the nuances of crypto taxation. The hosts emphasize strategic considerations for crypto investors, pointing to countries like Germany, Portugal, and Puerto Rico as key locations offering major tax advantages.
Germany, known for its progressive stance on cryptocurrencies, provides a favorable tax environment for investors. Portugal, with its tax exemptions for crypto gains, has become an attractive destination for those seeking to optimize their tax positions. Puerto Rico, with its unique tax incentives, further adds to the list of crypto-friendly nations, offering a strategic advantage for investors in the digital asset space.
The hosts delve into the challenges within Bitcoin's infrastructure, particularly the complexities of implementing a hard fork for transitioning from proof of work to proof of stake. This discussion highlights the decentralized essence of Bitcoin and the difficulties inherent in achieving consensus within its community.
The video also explores the growing interest in the Sui blockchain, renowned for its rapid growth in developer engagement. With a leap from $90 million to $560 million in total value locked within three months, Sui's user-friendly development environment and innovative features position it as a significant player in the blockchain ecosystem.
The hosts' experiences in Dubai add a unique perspective to the conversation, showcasing the city's thriving crypto community and its allure as a hub for industry enthusiasts and professionals. This personal touch enriches the technical discussion, making it more relatable and accessible.
Overall, the video provides a comprehensive guide, offering not only technical insights into crypto investments but also practical information on tax optimization strategies. The hosts navigate the complexities of the crypto landscape, providing viewers with valuable knowledge to make informed decisions in this ever-evolving market.
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Bitcoin, il limite di 7 transazioni al secondo (TPS)
Bitcoin, il limite di 7 transazioni al secondo (TPS) I parametri base dei sistemi di pagamento elettronici sono velocità, capacità transazionale, sicurezza e costo. Bitcoin è forte in uno su quattro, debole in due e debolissimo nel restante, la capacità transazionale. La blockchain di Bitcoin, per la soluzione architetturale adottata (Proof of Work) che privilegia la sicurezza, ha una capacità…

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"Proof of Work kopiert die Strategien der physikalischen Sicherheit und Abschreckung"
"Proof of Work kopiert die Strategien der physikalischen Sicherheit und Abschreckung" Der Air-Force-Soldat Jason Lowery schlägt dem Verteidigungsministerium vor, sich gründlich mit Proof of Work als militärische Strategie für das 21. Jahrhundert zu beschäftigen. In einem offenen Brief legt er seine Argumente dafür dar.
Der Air-Force-Soldat Jason Lowery schlägt dem Verteidigungsministerium vor, sich gründlich mit Proof of Work als militärische Strategie für das 21. Jahrhundert zu beschäftigen. In einem offenen Brief legt er seine Argumente dafür dar. Continue reading Untitled

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#cryptomining#crypto#cryptominingmachines#Bitcoin Mining#Cryptocurrency Mining#Blockchain Technology#Mining Hardware#ASIC Miners#GPU Mining#Mining Profitability#Renewable Energy for Mining#Crypto Economics#Decentralization#Mining Pools#Hashrate#Mining Algorithms#Proof of Work (PoW)#Bitcoin Economics#blockchain#investment
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Always the loser, never the winner



“And I’m sorry I left, but it was for the best— thought it never felt right.”
Choi Su-bong/Thanos x sick!ex reader warning. swearing, not proof read, might be OOC, no happy ending, mentions of drugs
genre. angst
The night Choi Su-bong walked out of your life was the coldest one you could remember. You were sick—seriously sick—and he had tried, God, he had tried, to make it work. He worked every odd job he could find alongside his dream of becoming a rapper, borrowed money from anyone who would listen, and skipped meals just to make sure you had enough to eat. But the medical bills piled up, and the debt collectors came knocking. He saw no way out.
The decision to leave was supposed to save you. He told himself that over and over as he packed his things in the dead of night. Without him, you’d be eligible for financial aid. Without his debts dragging you down, you’d have a chance to survive. But when he walked out that door without a word, it broke him. He thought it was the only way to show you he loved you; by disappearing.
Months passed. He tried to drown his guilt in drugs, hoping to maybe one day get back to you, however once he made the grave mistake of investing into a damn bitcoin— his life came crashing down on him. His debts only grew and to him there was only one possible solution to his depressive life; suicide.
Then the invitation came. A strange card, offering the promise of a fortune. Su-bong didn’t hesitate—he had nothing left to lose. It was like a sign from god, an angel sent from heaven telling him his life hasn’t lost its purpose just yet.
The games were brutal, but he clung to one thought to keep himself alive: if he won, he’d find you again. He’d make things right.
But then he saw you.
The first round had ended, the survivors headed back into the dormitory. He was scanning the crowd, taking stock of the competition, when his eyes landed on you. You were standing near the corner, pale but determined, your jaw set with the same stubbornness he always loved. His heart stopped.
“No,” he whispered under his breath, his legs nearly giving out beneath him. You didn’t notice him at first, too preoccupied with your own fear and confusion. But when the second game began, and players were called to choose teams, you spotted him. Your eyes met across the room.
“Su-bong? .. Or should I say Thanos?”
His name on your lips felt like a punch to the gut. He couldn’t move, couldn’t breathe, as the weight of what he’d done crashed down on him. You were here because of him. Because he’d left you with nothing.
You marched toward him, your expression a mixture of disbelief and fury. “What the hell are you doing here?” “I could ask you the same thing,” he managed to choke out, his voice coming off a bit harsher then intended . “I didn’t have a choice,” you snapped, your voice breaking. “I needed money, and I thought—” You stopped, shaking your head as tears filled your eyes. “No. You don’t get to ask me that. You left me.”
“I—” He reached out, but you stepped back. “You left me to die, Su-bong.” He couldn’t argue. He wanted to tell you why, to make you understand, but what could he say? That he thought abandoning you was love? That he thought you’d be better off without him? It all sounded so empty now, standing here in this nightmare. The announcement for the next game interrupted you. You were forced apart, thrown into a world where survival meant stepping over others. He watched you from a distance, unable to protect you, hating himself more with every passing second.
You both however survived the games, a weight lifting off of your chest once you stepped into the dormitories you learned to love— because it meant you got to live another day.
Then the votes came. You pressed O, having nothing to loose since you were already dying from this god forsaken sickness you were cursed with anyway.
Su-bong didn’t know, but a part of you blamed yourself for everything—for the debt, for his departure, for the way your once-perfect life unraveled. When he left, thinking it would save you, he didn’t realize the crushing weight of the medical bills would fall squarely on your shoulders. The debt collectors didn’t stop; they simply shifted their focus. And in the cruelest twist of fate, his absence had effectively wiped away his debts while doubling your own. You hated yourself for it. Hated that you had become a burden, that your illness had destroyed the life you’d built together. You’d loved Su-bong since high school, falling for his charm and his stubborn determination. Your relationship had been solid, a rare kind of love most would say he’s incapable of.
But sickness had a way of poisoning everything. You’d watched as his shoulders slumped under the weight of your medical expenses, as his bright smile dimmed with every overdue notice. And then, one day, he was gone, leaving nothing behind but a note you could barely bring yourself to read.
It was perfect, once. You’d wake up to his warm laughter and fall asleep to his whispered promises of forever. But in the end, love hadn’t been enough to keep you together.
One night, as the others slept, you found yourself sitting beside him in the dark. Neither of you spoke for a long time, the silence heavy with everything left unsaid. Finally, you broke it.
“Did you know your debts were cleared when you left?” you asked, your voice quiet. Su-bong froze, his gaze snapping to yours. “What?” “I got stuck with all of it,” you admitted, staring at the floor. “The medical bills, the loans—they all fell on me after you left. You thought you were saving me, but you only made it worse.” His face crumpled, and for the first time, you saw the depth of his regret. “Shit, I— I didn’t know,” he whispered, his voice breaking. “I thought I was doing the right thing. I thought... I thought you’d be free.” You let out a bitter laugh, shaking your head. “Free? Su-bong, I lost everything. My health, my home, you. I had nothing left.” “I’m so sorry,” he said, his voice barely audible. “I was so fucking stupid. I should have stayed. I should’ve fought harder.” “Yeah, you should’ve,” you said, your voice trembling with anger and heartbreak. “We could’ve figured it out together, but you didn’t give me a choice. You just left.” “I was scared,” he admitted. “Scared of watching you suffer, scared of failing you. I thought you’d hate me if I stayed.”
You looked at him then, tears streaming down your face. “I didn’t hate you, Su-bong. I loved you. I still love you, even after everything.” His breath hitched, and for a moment, you saw a flicker of the boy you’d fallen in love with all those years ago. “I love you too dumbass,” he said, his voice cracking but a teasing tone in his. “I never stopped.”
But there was no time for reconciliation, no room for hope in a place like this. The next day, another game began, and the stakes were higher than ever. Su-bong tried to shield you, to take risks so you wouldn’t have to, but the games didn’t care about love or sacrifice.
After Mingle, the vote came to a tie. You were on the O side, earning glares from many, but you didn’t care.
You noticed Su-bong get up and walk away. “Hey—where are you going?” you whisper-yelled, raising a brow. He turned around with a sigh before coming back to you. “I’m going to take a piss. Wanna come, princess?” he smirked, amused as your face turned bright red. “No—go! Ew, what the hell?” You pushed him away, but a chuckle escaped your lips despite yourself. He ruffled your hair and left without another word, leaving a small smile on your face.
“We’ll get out of here, and everything will get better…” you murmured to yourself. A low chuckle beside you made you flinch.
It was Player 001.
“What makes you think he actually cares for you?” His tone was soft but laced with an aggravating edge, a barely noticeable smirk playing on his lips. “What?” you asked, frowning. “I mean… didn’t you see him doing those drugs during Red Light, Green Light? He’s probably going to get out of here and waste all of your money on his happy pills,” he said casually, glancing down at you as you sat frozen in place.
Your heart stopped. ‘What? But he said he was sober..’ you thought, confusion clouding your mind as doubts about Su-bong resurfaced. “Why so nervous?” the man pressed, leaning against a nearby bed. “Did you realize your boyfriend over there isn’t as trustworthy as you thought?” His words stung, but before you could respond, you noticed more X voters entering the bathrooms, making your chest tighten with panic. “What? I—no.” You stood quickly, intending to rush to the bathroom, but he grabbed your shoulder with a firm grip. “Be careful with your decisions,” he said, his voice low and ominous. “This place is life or death—remember that.”
You tried to push past him, but he pulled you into a secluded corner where neither the O nor X voters could see. “What are you doing? Let me go!” you protested, thrashing against his hold. His grip didn’t loosen. “Shhh,” he whispered, his expression unreadable. You struggled, tears pooling in your eyes. ‘No— no.. no Su-bong he’s in danger I need to—‘ Your body slowly started giving up— you were surprised it even held out for this long but sickness has a way of manipulating your way of thinking. Sometimes you think you’re as healthy as one can be but then before you know it.. death is gently kissing your cheek.
‘Su-bong..’ He was the only thing on your mind as your consciousness slipped from your fingers. A sharp pain stung your heart, almost like a bullet as you heard one last thing, something you certainly did not want to hear.
“Player 230 eliminated.”
No, he promised. He promised you’d get out— together. You fell for his stupid lies and promises yet again, you let your guard down and got hurt again, but this time it wasn’t just a petty break up.. a life was lost, a precious one to you at that and you couldn’t take it back.. not this time. ‘I hate you Choi Su-bong. I hate you for leaving me, I hate you for lying to me and tricking me yet again with your stupid charm and that stupid smirk. I hate you so so much.. But I can’t help but love you with my whole, sick being.’
© just1cefor4ll— I don’t consent to my writing being reposted to other platforms or fed into AI. Translating it is also strictly prohibited. 🚫
#⚖️ juist1cefor4ll#choi su bong#thanos squid game#choi su bong x reader#choi su bong squid game#su bong x reader#squid game fanfic#squid game#squid game season 2#squid game thanos#thanos x reader#squid game thanos x reader#thanos#squid game x y/n
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The Emergence of NFTs: Transforming Digital Ownership and Creativity
Non-Fungible Tokens (NFTs) have revolutionized the way we think about digital ownership, art, and collectibles. By leveraging blockchain technology, NFTs provide a way to create, buy, sell, and own unique digital assets with verifiable provenance and scarcity. This article explores the world of NFTs, their impact on various industries, key benefits and challenges, and notable projects, including a brief mention of Sexy Meme Coin.
What Are NFTs?
NFTs, or Non-Fungible Tokens, are unique digital assets that represent ownership of a specific item or piece of content, such as art, music, videos, virtual real estate, and more. Unlike cryptocurrencies like Bitcoin or Ethereum, which are fungible and can be exchanged on a one-to-one basis, NFTs are indivisible and unique. Each NFT is recorded on a blockchain, ensuring transparency, security, and verifiability of ownership.
The Rise of NFTs
NFTs gained mainstream attention in 2021 when digital artist Beeple sold an NFT artwork for $69 million at Christie's auction house. This landmark event highlighted the potential of NFTs to transform the art world by providing artists with new revenue streams and collectors with verifiable digital ownership.
Since then, NFTs have exploded in popularity, with various industries exploring their potential applications. From gaming and music to real estate and fashion, NFTs are creating new opportunities for creators, businesses, and investors.
Key Benefits of NFTs
Digital Ownership: NFTs provide a way to establish true digital ownership of assets. Each NFT is unique and can be traced back to its original creator, ensuring authenticity and provenance. This is particularly valuable in the art and collectibles market, where forgery and fraud are significant concerns.
Monetization for Creators: NFTs enable creators to monetize their digital content directly. Artists, musicians, and other content creators can sell their work as NFTs, earning revenue without relying on intermediaries. Additionally, smart contracts can be programmed to provide creators with royalties each time their NFT is resold, ensuring ongoing income.
Interoperability: NFTs can be used across different platforms and ecosystems, allowing for interoperability in the digital world. For example, NFTs representing in-game items can be traded or used across multiple games and virtual worlds, enhancing their utility and value.
Scarcity and Collectibility: NFTs introduce scarcity into the digital realm by creating limited editions or one-of-a-kind items. This scarcity drives the collectibility of NFTs, similar to physical collectibles like rare coins or trading cards.
Challenges Facing NFTs
Environmental Impact: The creation and trading of NFTs, especially on energy-intensive blockchains like Ethereum, have raised concerns about their environmental impact. Efforts are being made to develop more sustainable blockchain solutions, such as Ethereum's transition to a proof-of-stake consensus mechanism.
Market Volatility: The NFT market is highly speculative and can be volatile. Prices for NFTs can fluctuate significantly based on trends, demand, and market sentiment. This volatility poses risks for both creators and investors.
Intellectual Property Issues: NFTs can raise complex intellectual property issues, particularly when it comes to verifying the rightful owner or creator of the digital content. Ensuring that NFTs are legally compliant and respect intellectual property rights is crucial.
Access and Inclusivity: The high costs associated with minting and purchasing NFTs can limit accessibility for some creators and collectors. Reducing these barriers is essential for fostering a more inclusive NFT ecosystem.
Notable NFT Projects
CryptoPunks: CryptoPunks are one of the earliest and most iconic NFT projects. Created by Larva Labs, CryptoPunks are 10,000 unique 24x24 pixel art characters that have become highly sought-after collectibles.
Bored Ape Yacht Club: Bored Ape Yacht Club (BAYC) is a popular NFT collection featuring 10,000 unique hand-drawn ape avatars. Owners of these NFTs gain access to exclusive events and benefits, creating a strong community around the project.
Decentraland: Decentraland is a virtual world where users can buy, sell, and develop virtual real estate as NFTs. This platform allows for the creation of virtual experiences, games, and social spaces, showcasing the potential of NFTs in the metaverse.
NBA Top Shot: NBA Top Shot is a platform that allows users to buy, sell, and trade officially licensed NBA collectible highlights. These video clips, known as "moments," are sold as NFTs and have become popular among sports fans and collectors.
Sexy Meme Coin (SXYM): Sexy Meme Coin integrates NFTs into its platform, offering a decentralized marketplace where users can buy, sell, and trade memes as NFTs. This unique approach combines humor and finance, adding a distinct flavor to the NFT landscape. Learn more about Sexy Meme Coin at Sexy Meme Coin.
The Future of NFTs
The future of NFTs is bright, with continuous innovation and expanding use cases. As technology advances and more industries explore the potential of NFTs, we can expect to see new applications and opportunities emerge. From virtual fashion and digital identities to decentralized finance (DeFi) and beyond, NFTs are poised to reshape various aspects of our digital lives.
Efforts to address environmental concerns, improve accessibility, and ensure legal compliance will be crucial for the sustainable growth of the NFT ecosystem. Collaboration between creators, platforms, and regulators will help build a more robust and inclusive market.
Conclusion
NFTs have ushered in a new era of digital ownership, creativity, and innovation. By providing verifiable ownership and provenance, NFTs are transforming industries ranging from art and entertainment to gaming and virtual real estate. While challenges remain, the potential benefits of NFTs and their ability to empower creators and engage communities make them a significant force in the digital economy.
For those interested in the playful and innovative side of the NFT market, Sexy Meme Coin offers a unique and entertaining platform. Visit Sexy Meme Coin to explore this exciting project and join the community.
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So NFTgate has now hit tumblr - I made a thread about it on my twitter, but I'll talk a bit more about it here as well in slightly more detail. It'll be a long one, sorry! Using my degree for something here. This is not intended to sway you in one way or the other - merely to inform so you can make your own decision and so that you aware of this because it will happen again, with many other artists you know.
Let's start at the basics: NFT stands for 'non fungible token', which you should read as 'passcode you can't replicate'. These codes are stored in blocks in what is essentially a huge ledger of records, all chained together - a blockchain. Blockchain is encoded in such a way that you can't edit one block without editing the whole chain, meaning that when the data is validated it comes back 'negative' if it has been tampered with. This makes it a really, really safe method of storing data, and managing access to said data. For example, verifying that a bank account belongs to the person that says that is their bank account.
For most people, the association with NFT's is bitcoin and Bored Ape, and that's honestly fair. The way that used to work - and why it was such a scam - is that you essentially purchased a receipt that said you owned digital space - not the digital space itself. That receipt was the NFT. So, in reality, you did not own any goods, that receipt had no legal grounds, and its value was completely made up and not based on anything. On top of that, these NFTs were purchased almost exclusively with cryptocurrency which at the time used a verifiation method called proof of work, which is terrible for the environment because it requires insane amounts of electricity and computing power to verify. The carbon footprint for NFTs and coins at this time was absolutely insane.
In short, Bored Apes were just a huge tech fad with the intention to make a huge profit regardless of the cost, which resulted in the large market crash late last year. NFTs in this form are without value.
However, NFTs are just tech by itself more than they are some company that uses them. NFTs do have real-life, useful applications, particularly in data storage and verification. Research is being done to see if we can use blockchain to safely store patient data, or use it for bank wire transfers of extremely large amounts. That's cool stuff!
So what exactly is Käärijä doing? Kä is not selling NFTs in the traditional way you might have become familiar with. In this use-case, the NFT is in essence a software key that gives you access to a digital space. For the raffle, the NFT was basically your ticket number. This is a very secure way of doing so, assuring individuality, but also that no one can replicate that code and win through a false method. You are paying for a legimate product - the NFT is your access to that product.
What about the environmental impact in this case? We've thankfully made leaps and bounds in advancing the tech to reduce the carbon footprint as well as general mitigations to avoid expanding it over time. One big thing is shifting from proof of work verification to proof of space or proof of stake verifications, both of which require much less power in order to work. It seems that Kollekt is partnered with Polygon, a company that offers blockchain technology with the intention to become climate positive as soon as possible. Numbers on their site are very promising, they appear to be using proof of stake verification, and all-around appear more interested in the tech than the profits it could offer.
But most importantly: Kollekt does not allow for purchases made with cryptocurrency, and that is the real pisser from an environmental perspective. Cryptocurrency purchases require the most active verification across systems in order to go through - this is what bitcoin mining is, essentially. The fact that this website does not use it means good things in terms of carbon footprint.
But why not use something like Patreon? I can't tell you. My guess is that Patreon is a monthly recurring service and they wanted something one-time. Kollekt is based in Helsinki, and word is that Mikke (who is running this) is friends with folks on the team. These are all contributing factors, I would assume, but that's entirely an assumption and you can't take for fact.
Is this a good thing/bad thing? That I also can't tell you - you have to decide that for yourself. It's not a scam, it's not crypto, just a service that sits on the blockchain. But it does have higher carbon output than a lot of other services do, and its exact nature is not publicly disclosed. This isn't intended to sway you to say one or the other, but merely to give you the proper understanding of what NFTs are as a whole and what they are in this particular case so you can make that decision for yourself.
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DebitMyData Custom Logo and Facial Recognition-You Are the Product! Get Paid for Your Data!
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