Aloha, Let me say that First Dog on the Moon has, not for te first time, the definitive, if not answer, then at last commentary on the issue:
https://www.theguardian.com/commentisfree/2021/mar/12/cryptoart-what-is-it-and-can-you-eat-it Enjoy! have a nice day and don't become fungible! p+7D! ps: ALL FDotMoon cartoons (& merchandise too! ;-) on the website: https://firstdogonthemoon.com.au/ (It's Australian, oeuf corse ...) > Op 11-03-2021 18:19 schreef Brian Holmes <bhcontinentaldr...@gmail.com>: > > > I can't answer the second question, but as to the first I believe that > there are three distinct forms of money that currently operate in a hierarchy: > > -- Infinite money which is produced and deregulated in the financial > markets through the manipulation of information > > -- Institutional money which is produced and regulated within national > frames by governments seeking to stabilize social reproduction > > -- Sweat money which is produced on the ground through the exploitation > of labor paid at the bear minimum of survivability > > The last form of money is the most extensive one, it's the most common > coin, the basis of most livelihoods on earth. Institutional money, however, > has been carefully decoupled from sweat money; and infinite money has been > decoupled from institutional money in its turn. Institutional money began to > be produced through Keynesian management of national economies from the 30s > onward, it's inseparable from social democracy. Infinite money started up > after the postwar gold standard was abandoned in 1971, and became what it is > today with the introduction of computerized trading. > > What does infinite money mean to its owners? Financial capital is power > when it is applied to institutions or labor processes. However it can also be > used for status displays, what Veblen called "conspicuous consumption." So > you have to bring art back in. For better and mostly worse, "high" culture > remains the noisy ghost at the top of the capitalist pyramid. > > best, Brian > > On Thu, Mar 11, 2021 at 10:47 AM Felix Stalder <fe...@openflows.com > mailto:fe...@openflows.com > wrote: > > > > I'm sure many have followed the NFT art saga over the last couple > of > > months and seen today's headline that somebody just paid $ > > 69,346,250 > > for a NFT on a blockchain, meta-data to claim ownership of the > > "originalcopy" of a digital art work. > > > > > > https://onlineonly.christies.com/s/first-open-beeple/beeple-b-1981-1/112924 > > > > I don't want to start a discussion on the revolutionary vs > > reactionary > > character of this emerging art market. All of that has already been > > said. If you want a close approximation of my perspective, I refer > > you > > to this: > > > > > > https://everestpipkin.medium.com/but-the-environmental-issues-with-cryptoart-1128ef72e6a3 > > > > What I'm more interested in here is to ask two things. > > > > What -- after a decade of quantitative easing and crypto-currencies > > rising into the stratosphere -- monetary value is indicating for the > > segment that profited the most from these developments and what does > > that mean for the rest of us? > > > > And, assuming that this is not a cartoon version of a potlatch where > > wasting resources serves to put rivals to shame, how many different > > scams -- money laundering would be an obvious contender -- are being > > layered on top of one other to create this? > > > > Quite puzzled. Felix > > > > > > > > > > > > > > > > > > > > -- > > | |||||||||||||||||| http://felix.openflows.com | > > | Open PGP | http://felix.openflows.com/pgp.txt | > > > > # distributed via <nettime>: no commercial use without permission > > # <nettime> is a moderated mailing list for net criticism, > > # collaborative text filtering and cultural politics of the nets > > # more info: http://mx.kein.org/mailman/listinfo/nettime-l > > # archive: http://www.nettime.org contact: nett...@kein.org > > mailto:nett...@kein.org > > # @nettime_bot tweets mail w/ sender unless #ANON is in Subject: > > > > > # distributed via <nettime>: no commercial use without permission > # <nettime> is a moderated mailing list for net criticism, > # collaborative text filtering and cultural politics of the nets > # more info: http://mx.kein.org/mailman/listinfo/nettime-l > # archive: http://www.nettime.org contact: nett...@kein.org > # @nettime_bot tweets mail w/ sender unless #ANON is in Subject: >
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