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May 27, 2021

[► YouTube] Conversation with Sid Yadav - NFT extravaganza

by: Dave Gorum

Pattern discovery. Relation to the transcendent

Pattern recognition vs Pattern discovery. Old vs New

Biggest Little Farm documentary. Regenerative agriculture. Good source for understanding ecological thinking?

I like feeling into the patterns of thought in conversations like this. Learning how to move through information by listening to what’s possible.

Energetic bias toward legibility. Value flowing through the channels dictated by accumulated wealth. Magnetic quality of money? Value reservoir.

Technologies tend to be expensive in the beginning and tend to become cheaper as they become well understood. Coarse grained utility early and tend to get subtle and sophisticated as they are understood

Good overview of the path of technical adoption

Metaverse. Finite amount of real-estate attached to crypto. Description of some of that economy. Decentraland

Has the “VR revolution”. The mainstream uptake of VR at 3 years out. 2021.

Tools as utility compression. Example of a rock versus a hammer. This resonates.

Efficiency compression

Utility of signaling. Social mammals. John Holland - Signals and Boundaries. Signals as primordial phenomenon

Doing a real long endrun around signaling and its value. Unpacking signaling at its base to take a look at what’s happening in the grifty NFT space. Not jumping to judgement on what appears to be happening. Signal vs Signaling

There is no way to have virtue without a signal. Virtue is only possible in relationship (consider). Feeling I don’t understand enough of what virtue is

Value flow to NFTs as signal. Implications

Discussion of corn and fungability. Great illustration of fungible versus not. Good visual description of relationship and possibility as well. All the potential of a kernel of corn being expressed through the relational lines of potential. Daoist imagery here

Description of micro-economics. There are more values to comprehended than are currently expressed

Deeper form of value in the intrinsic non-fungibility of anything that matters

A compelling description of why art first in NFT space vs something like cars or real estate. Lots of legacy lock-in in these other spaces

The intuitive sense that the object you’re buying is representing something will someday be valuable

Looping back into pattern discovery. Participation in something of future value as method of understanding. Collective unconscious doing this at the cultural level

Potential of energy compressing into legible utility. Different perspectives in the landscape making different plays and future possibilities. Weighting

Parasites play a powerful useful role in an ecosystem

Follow the parasites to the value. Ignore what they say look at what they see

Price as a legible measure. An attractor

We do a terrible job at curation. In an equilibrium state content and curation is at 50/50 value. In this state you have a better idea of what value to create. Microeconomics again

Gini coefficient. Money is pooling in places

Provenance as value differentiator. Why do we value origination? Ties closely to curation

Book: Secrets of our Success. Good descriptor of cultural anthropology (Kristen may have mentioned this before). Description of prestige. Prestige is a generic indicator. If our prestige gradients are noisy we will be learning all sorts of useless stuff and not getting good feedback

Prestige as a way of finding appropriate teacher

Well balanced and right relationship curation will point out prestige of true value. This enhances the collective intelligence of the community

Have to go through gen 1 to understand what is possible in gen 2

Some discussion of virtue signaling and how it’s working. A signal as relation to being on the “right side of history”. In-group / out-group dynamics. This in relation to the energetic cost of NFTs

Jordan does an analysis of the cost structure of both digital and analog models of art. Multi-variable supply chain. Comparison of embodied energy

Most economic activity can be handled with current hardened ability of smart contracts. Technically at least

Smart contracts are already capable of holding contracts of millions of dollars. Great but a lot of migration necessary

A blockchain mediated world replacing a lot of what the nation state does. Military industrial complex, policing, banking, legal structures, and on and on. Wildly different landscape

Some digs at Seth Godin. Attention hijacking

Discussion of corruption and it’s rampancy. A bit of tech Utopianism around legibility of blockchain reducing the ability for the corruption to hide. As always, the reality of this has hidden complexities. Removal of a particular kind of corruption leaves room for new corruptions to emerge. So it goes, and so it’ll go, until self-deception is no longer a problem

From a 95% civilizational corruption rate down to 3% could be the difference in saving the day

This affords the possibility of a coherent collective intelligence

Full conscious responsibility of the way things develop