the whole "centralization = bad, decentralization = good" argument strikes me as very half-baked. The assumption is that decentralization is inherently liberatory. That assumption isn't guaranteed.
Every cryptocurrency that exist is built on the same fundamental principle: people with the most existing wealth (hash power in PoW, existing crypto in PoS, storage space in PoST) make the most income (whatever crypto in question). All cryptocurrency fundamentally is built on the basis of enriching the already-rich. Yes, cryptocurrency is decentralized, but decentralization alone is not a magical recipe for something being of benefit to all mankind.
Take BAYC, for example. Tradeable membership to a "community" whose only significance is that you purchased membership into an ever-expensive community to belong to. We can say what the price of a membership is quite easily, but can we say what the value of that membership is? If the price of membership goes up, does that make the community "better"? It is decentralized, is it therefore good? The drug trade is decentralized, is it therefore good?
In non-crypto assets, what percentage of wealth is owned by the top 1%? How about in crypto assets?
as for IPFS: You put something on IPFS, what is the guarantee that it will continue to exist on IPFS? It's entirely consensual; there's no guarantee that such a thing will continue to exist on the network unless someone consents to store it. So if you want to actually deliver on that guarantee, what do you do, run an IPFS node that always hosts that file? Feels like you're back at square one, needing to run a server to guarantee that a given file continues to be available.
Now, that's not to say IPFS isn't useful at all! It's very cool! The promise of duplicability and the way in which frequently-accessed data will be more widely replicated is incredibly fascinating on its own, and has tremendous value. I'm a server operator, so the notion of setting up a node to permanently host a particular item in IPFS doesn't bother me. But we shouldn't pretend that IPFS is a magic solution that guarantees the permanent storage of everything put on it. It's a nice addressing and content replication system.
I'm really optimistic about the concept of NFTs in the long run, and about the applications of solutions to the double-spend problem generally. My pessimism is not in the concept of NFTs, it's in the concept of blockchains, which are fundamentally only capable of increasing inequality. The entire concept of what makes blockchains secure is "in order to attack it, you have to have a lot of wealth, so you'd be destroying your own wealth": the security paradigm is "a rich person would not elect to sacrifice their own riches". The entire system is based on this premise.
When we have non-blockchain solutions to the double-spend problem, or NFTs that can be implemented without this promise of increasing inequality, I'll be excited about the space.
Every cryptocurrency that exist is built on the same fundamental principle: people with the most existing wealth (hash power in PoW, existing crypto in PoS, storage space in PoST) make the most income (whatever crypto in question). All cryptocurrency fundamentally is built on the basis of enriching the already-rich. Yes, cryptocurrency is decentralized, but decentralization alone is not a magical recipe for something being of benefit to all mankind.
Take BAYC, for example. Tradeable membership to a "community" whose only significance is that you purchased membership into an ever-expensive community to belong to. We can say what the price of a membership is quite easily, but can we say what the value of that membership is? If the price of membership goes up, does that make the community "better"? It is decentralized, is it therefore good? The drug trade is decentralized, is it therefore good?
In non-crypto assets, what percentage of wealth is owned by the top 1%? How about in crypto assets?
as for IPFS: You put something on IPFS, what is the guarantee that it will continue to exist on IPFS? It's entirely consensual; there's no guarantee that such a thing will continue to exist on the network unless someone consents to store it. So if you want to actually deliver on that guarantee, what do you do, run an IPFS node that always hosts that file? Feels like you're back at square one, needing to run a server to guarantee that a given file continues to be available.
Now, that's not to say IPFS isn't useful at all! It's very cool! The promise of duplicability and the way in which frequently-accessed data will be more widely replicated is incredibly fascinating on its own, and has tremendous value. I'm a server operator, so the notion of setting up a node to permanently host a particular item in IPFS doesn't bother me. But we shouldn't pretend that IPFS is a magic solution that guarantees the permanent storage of everything put on it. It's a nice addressing and content replication system.
I'm really optimistic about the concept of NFTs in the long run, and about the applications of solutions to the double-spend problem generally. My pessimism is not in the concept of NFTs, it's in the concept of blockchains, which are fundamentally only capable of increasing inequality. The entire concept of what makes blockchains secure is "in order to attack it, you have to have a lot of wealth, so you'd be destroying your own wealth": the security paradigm is "a rich person would not elect to sacrifice their own riches". The entire system is based on this premise.
When we have non-blockchain solutions to the double-spend problem, or NFTs that can be implemented without this promise of increasing inequality, I'll be excited about the space.