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Ready or not, deep fakes are here to stay. Deep fakes are going to change the way we trust information around us and even each other. The question is - are we prepared for the threat they cause while being able to harness their potential for good?
Forgery is forgery, and we've had to live with it for as long as anyone has valued authenticity.
If real people can't live in your virtual universe, what use is it?
Forgery is forgery, and we've had to live with it for as long as anyone has valued authenticity. One of my associates had some funds tied up in a painting that lived in a bank vault. It was "worth" millions - that is, it represented a large sum of money that his syndicate had paid for it and was therefore a sort of unforgeable cheque or bond that could be exchanged for money, as long as it was never exhibited since that would expose it to damage, theft, or copying!
Crypto is a lot of things, but it isn?t a currency according to Shark Tank investor Kevin O?Leary, aka ?Mr. Wonderful." What would it take to get there?Is the collapse of a $25 billion cryptocurrency startup a death knell for the industry? Not according to Kevin O'Leary, an investor, businessman, and author. He sees the failure of FTX as a speed bump rather than a roadblock, underscoring the distinction between speculative assets like Bitcoin and more stable entities like Stablecoins. Despite the turmoil, O'Leary maintains that the potential of cryptocurrencies remains vast. He foresees their integration into the global economy but contends that this can only happen successfully with appropriate regulation to curtail the sector's ?Wild West? tendencies. As the cryptocurrency community awaits the final outcome of the SEC?s lawsuit against Ripple and other companies, it remains to be seen whether or when digital assets will be incorporated into our daily economic lives.0:00 FTX's "utter catastrophe"0:58 What crypto is missing 1:23 Speculative assets vs. stable coins3:10 Should we trust the government to regulate crypto?5:45 Where do we go from here?
If everyone who believe in the value of that painting are already dead, and the secrecy prevents anyone new to learn about it, it would worth nothing.
But my chequebook was only at risk from a skilled forger.That wasn't a big threat to me.But now any Tom Dick or Harry can make a practically perfect facsimile of my signature/ face/ social media account/ whatever.So, yes, forgery was always a problem.But it suddenly got much worse.
Quote from: Bored chemist on 21/07/2023 17:23:33But my chequebook was only at risk from a skilled forger.That wasn't a big threat to me.But now any Tom Dick or Harry can make a practically perfect facsimile of my signature/ face/ social media account/ whatever.So, yes, forgery was always a problem.But it suddenly got much worse.Maybe it's time we reverted to cash or barter.
Quote from: hamdani yusuf on 22/07/2023 00:18:22If everyone who believe in the value of that painting are already dead, and the secrecy prevents anyone new to learn about it, it would worth nothing.Belief isn't essential - the provenance and purchase history are well documented, and its existence isn't a secret. Just like gold bullion, you have to let everyone know you have it if you want to use it as collateral for a transaction, but you don't wave it around in public!
You would face problem of practicality. How would you make a transaction that's more than one billion dollars?
You don't rely on a single document or even a single source for proof of provenance. At each stage in the commercial life of the painting there will have been a document authorising the money transfer (now held by the seller) and one acknowledging it (held by the purchaser). Indeed it was these documents that got Van Meegeren into trouble for selling "Vermeers" to the Nazis, and out of trouble (indeed raised to a national hero) by proving that they were all forgeries!
AS anyone here used crypto? Personally I wouldn't touch it. Sorry for the off topic question, Hamdani.
It's susceptible to fake transactions which are purposely made to jack up the price without increasing intrinsic values.
It's only an asset if (a) someone is prepared to buy it from her at $12K, (b) the dollar hasn't depreciated during the transaction (c) she doesn't have to pay interest on the $12K she borrows to buy it back and (d) the goods she wants to buy for $12K, assuming she can sell it, haven't increased in price. and (e) she really does buy it for $12K. Alice seems to be falling into the UK housebuyer's trap - the numbers keep increasing but everyone (apart from the bankers and lawyers) is getting poorer because none of the conditions are met!