Crypto News

Casa CTO Jameson Lopp Weighs in on the ‘Silliness’ of NFT Art as Bitcoin Ordinals Soar

Published

10 months ago

February 18, 2023

Times, they are a-changin’. The recent hype around Bitcoin NTFs, also called Ordinals, has driven a key thorn in the side of the maximalist community. Instead of laying down the rails for “thermodynamically sound money,” it’s being used for printing more jpegs. Bitcoin proponents are also concerned about the scarce amount of block space available, a resource apparently too precious to share with digital art. The rise of Bitcoin NFTs is also a symptom of a bear market, he said. With prices low, block space is inexpensive. “In a bull market, it would be costing people thousands of dollars to do this,” Casa CTO Jameson Lopp told Decrypt.

To say it’s irked Bitcoin advocates is an understatement. “I understand that because I’ve thought all along that NFT art is fairly silly. Personally, I’ve never found value in tokenized art,” he said. “It’s not something that I would pay tens of thousands of dollars for so that I could say that it gives me pleasure that no one else is the owner of this art.” Lopp’s in a unique position to view the crypto culture wars too, having had to face a similar variety once his wallet firm announced it would add support for Ethereum.

The move to add Ethereum, announced last November, generated similar outrage from many of the same individuals complaining about new inscriptions on Bitcoin. These days, though, adding support for Ethereum looks like it will pay off once the product finally launches in a few weeks, Lopp insists. “From what we can tell and what we expected, a vast majority of the folks who were openly hostile and upset about it were not even our customers,” he said.

Instead of taking sides, what Casa is really looking at from a business perspective “is to address as much of the market as possible when it comes to encouraging self-custody,” meaning users have to take responsibility for handling sometimes complex aspects of multi-signature transactions. Self-custody of cryptocurrencies refers to the process of managing your assets yourself with the help of private keys rather than trusting third-party providers like centralized exchanges.

What irks the Casa CTO the most is less the inter-coin tribalism, but “seeing people who are choosing third-party trusted custodians because they make it really easy to hold every asset and take care of all of the complexities for you.” Adding support for both Ethereum and Bitcoin thus appears more as a middle-ground.

Still, many in the Bitcoin community haven’t been as understanding of that compromise. Lopp also revealed that he has been “canceled” a number of times, with people getting upset over his interest in privacy-centric cryptocurrencies. According to Lopp, the crypto space “is all about doing what you want without permission,” which also means that “people should expect that they’re going to get upset by other people doing certain things, like the Bitcoin NFT controversy that is happening right now.”

The recent hype around Bitcoin NFTs has caused a stir among the Bitcoin maximalist community, as the scarce amount of block space is being used for printing more jpegs. This is a symptom of a bear market, where block space is inexpensive, but in a bull market it would be costing people thousands of dollars. This has caused some extreme individuals to become hostile, with Casa CTO Jameson Lopp being “canceled” a number of times due to his interest in privacy-centric cryptocurrencies. Casa is looking to address as much of the market as possible when it comes to self-custody of cryptocurrencies, allowing users to manage their assets themselves with the help of private keys. #Bitcoin #Cryptocurrency #Casa #SelfCustody #Ethereum #NFTs

You can read more about this topic here: Decrypt: ‘NFT Art Is Fairly Silly’, Says Casa CTO Jameson Lopp on Bitcoin Ordinals Rise

The post Casa CTO Jameson Lopp Weighs in on the ‘Silliness’ of NFT Art as Bitcoin Ordinals Soar first appeared on Byte Syze Crypto.

Crypto News

Navigating the Murky Waters of Crypto and Compliance: Insights from NY’s Watchdog

Published

2 hours ago

December 5, 2023

Have you ever pondered the enigma of crypto’s allure and its darker undertones? Adrienne Harris, the Superintendent of the New York Department of Financial Services (NYDFS), recently shed light on this very topic at the Financial Times Crypto Winter Summit. Her perspective offers a fresh look into the industry’s pressing challenges for both newcomers and seasoned enthusiasts.

Harris conveyed a stark message about crypto’s anonymity feature, which she believes creates a ripe landscape for illicit activities. Unlike traditional cash exchanges requiring physical presence, crypto transactions can occur without such constraints, despite their traceability. Regulatory minds at both state and federal levels have been grappling with these concerns, particularly in light of high-profile cases involving Binance and the Department of Justice.

When it comes to ‘socializing’ crypto firms to the regulatory framework, Harris sees a need for a ‘tone reset.’ Traditional financial entities are versed in regulatory compliance, but many crypto firms are playing catch-up, often with their business growth outpacing their compliance mechanisms. This has led to enforcement actions by NYDFS, including hefty fines for giants like Coinbase and Robinhood, primarily for infractions related to illicit finance and cybersecurity.

Harris stresses the importance of crypto firms investing in proper compliance resources. Despite the industry’s high-tech facade, investigations reveal an unexpected reliance on paper, indicating a maturity gap in the operational practices of crypto firms aspiring to be legitimate players in the financial services ecosystem.

This dialogue raises essential questions for the crypto industry, especially regarding its impact on the broader financial ecosystem. It serves as a reminder that innovation must walk hand-in-hand with responsibility and transparency.

#CryptoRegulation #Compliance #FinancialCrime #Cybersecurity

The post Navigating the Murky Waters of Crypto and Compliance: Insights from NY’s Watchdog first appeared on Byte Syze Crypto.

Crypto News

Next-Gen Storyboarding: How Lore Machine’s AI Merges with Hollywood Creativity

Published

2 hours ago

December 5, 2023

Imagine a world where the boundary between human creativity and artificial intelligence becomes just a gentle blur. That’s the unfolding reality in Tinseltown, where a new AI-driven platform, Lore Machine, is set to revolutionise the art of storytelling.

Founded by Thobey Campion, a name synonymous with multimedia innovation, Lore Machine is a generative AI tool designed to help screenwriters, directors, and producers bring their written visions to life. It’s a digital alchemist that transforms scripts into stunning visuals, aiming to bridge the gap between the written word and cinematic representation.

The potential of Lore Machine lies not only in its ability to create storyboards and comic books but also in its future capability to produce motion graphics. With a waitlist already 25,000 strong, the platform is expected to launch in 2024, signalling a growing interest in multimedia generation at story scale.

What’s particularly captivating is the platform’s versatility. Whether you’re crafting a fantasy epic or a cyberpunk thriller, Lore Machine promises to cater to a range of artistic preferences. Campion’s vision extends beyond the silver screen, as even the gaming industry and corporate sectors are showing keen interest.

But it’s not all about the glitz and glamour; there’s a conscientious edge to Lore Machine. Amidst the rising tensions surrounding AI and copyright infringement, the platform stands firm on ethical use and ensuring originality. It’s a nod to the creative community that their rights will be respected in this new digital epoch.

The journey of Lore Machine is akin to the voyage of Moog’s synthesizer, with the potential to redefine our creative processes. It’s a beacon of empowerment for storytellers, one that offers a promising future where technology amplifies rather than stifles human creativity.

#LoreMachine #AIinHollywood #CreativeTech #StorytellingInnovation

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Crypto News

Bringing Photos to Life: Alibaba’s AI Unveils the Magic of Animation

Published

3 hours ago

December 5, 2023

Remember the days when creating animations required expert skills and sophisticated software? Times have changed. Now, even those with minimal tech savvy can breathe life into still images, thanks to advanced AI.

Alibaba’s AI research team has unveiled ‘Animate Anyone’, an AI model that claims to transform any photo into a fluid, animated video with ease. This intriguing innovation promises to revolutionize content creation for influencers and the tech-curious alike, by offering the ability to generate personalized, AI-crafted apparel and videos.

Despite the buzz, ‘Animate Anyone’ isn’t the only player in the game. Enter ‘MagicAnimate’, a similar AI model with a knack for smooth transitions and detail retention in video animations. Each of these tools offers a glimpse into a future where AI bridges the gap between static images and dynamic video content.

While we await public access to these cutting-edge technologies, the potential implications for the crypto industry cannot be ignored. As the line between reality and AI blurs, the authenticity of digital content becomes ever more critical—a challenge and opportunity for blockchain’s promise of verifiable truth.

In summary, whether you’re an influencer looking to spice up your content, or simply a tech enthusiast mesmerized by the magic of animation, the world of AI is bringing some exciting developments to the table. Keep your eyes peeled for more updates, as the dance of technology continues to evolve.

#AIAnimation #TechInnovation #ContentCreation #CryptoAuthenticity

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