James
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It's not assumed when you can't even properly admit basic realities like you cannot copy an NFT. EDIT: Just wait until I get you to admit that they are a non-fungible store of value like land.
Bitcoins/Litecoins/Virtual Currencies
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It's not assumed when you can't even properly admit basic realities like you cannot copy an NFT. EDIT: Just wait until I get you to admit that they are a non-fungible store of value like land.
LachiusTZ
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Khane
Got something right about marriage
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The problem for James is that he is obsessed with the F in NFT. He thinks that because something has a unique digital signature it somehow makes it valuable... an asset. There is no talking to someone who gets lost in the details and cannot see the forest for the trees.
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James
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What the fuck does this mean.
EDIT: Your wallet has a unique digital signature, and I'm sure it's fucking worthless if that makes you feel any better.
Arden
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Skimmed through them. It's mostly stupid bullshit. Several people clearly didn't understand the concept of nfts. But yes, you made it clear you did. Congratulations.
And nothing would stop anyone from just copying one of those stupid rock nfts. As you clearly understand, the copy would not be exactly the same as the original, but it could be visibly indistinguishable.
I could print up a Mickey Mantle rookie card from my computer and probably spend a little bit of time getting it to look just like an original. It will be worthless, of course, but I could make it virtually indistinguishable.
The best part about digital nfts is that you don't have to rely on your visual senses to try and discern fakes like you do a lot of physical memorabilia. All the proof you need is in the underlying code.
Tmac
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Except to make a forgery of the Mickey Mantle card would be a lot of work.
W digital work you can just copy/paste. It's a difference of hours.
James
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Nah, like anything else the effort you put in matters. If you can't tell the NFT you're buying is not part of the collection, you're the kind of person who'd buy a picture of Mickey Mantle printed out on A7 and consider it the real thing. There are a few cases that are genuinely hard to tell, like the Pranksy one I linked a little back where he spent 100 ETH on an NFT cause some dude hacked Banksy's website and uploaded an image there, but that's a LOT more effort.
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Arden
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Hmm, I did just think of an upside to digital/NFT based ID's: no more sock puppet accounts. It would become impossible for all these ad companies to fake traffic numbers and just invent people to shout down various things via fake accounts. All of a sudden the internet is a VERY different place when all the rabble rousers are unable to generate sock puppets to sing their praises or act as straw men to argue against. Different for the better in this particular instance.
Apologies if someone brought up this wrinkle before.
Apologies if someone brought up this wrinkle before.
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Arden
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I mentioned it a long time ago after I had this kind of epiphany about how much blockchain tech is going to change the Internet. It's actually pretty wild when you start thinking about it. The benefits of transparency and instant verification in the digital world are fairly fucking profound.
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Khane
Got something right about marriage
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There are plenty of use cases for NFTs. None of which make them valuable as an asset on their own that people should buy, sell or trade. They are meant to be attached to something digitally that has intrinsic value to verify authenticity, not to be separated from the asset and sold off on their own as if they have value by themselves. They don't.
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Khane
Got something right about marriage
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LachiusTZ
Rogue Deathwalker Box
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James literally can't comprehend this.
The issue is, your Mickey mantle rookie card is valuable because of rarity and desire.
The NFTs we spent pages mocking him about, have no utility. Zero.
There is no material difference between those and copies. James gets drift wood in his snatch about it and screams Blockchain, but none of us give a shit (in these particular cases) between Blockchain 1 and Blockchain 2
He literally can't comprehend it.
It's amazing.
Just like arguing with xeq. It's fucking hilarious.
LachiusTZ
Rogue Deathwalker Box
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Also, I think a few of you guys are arguing past each other in the name of pedantic definitions.
Here's a couple things to think about: land isn't necessarily non-fungible. Say you have two plots of land. They're the same size, have the same access, the same climate, the same local regulations, the same elevation, the same drainage, etc etc. Before you say that's not a real case, imagine a huge plot of farmland that you divide in 2. Or take 2 corners out of, etc. They're not IDENTICAL, but for practical purposes such as growing food, they are the same. It would only be if you ascribed some other non-practical purpose that the 2 plots of land in this example would attain different values. IE: this one once belonged to my father, this one was the site of an alien landing, this one was where Napolean Bonaparte once caught the crabs, etc.
Another example which kind of enforces James' interpretation is the world of kit cars and reproductions. There's a company in Argentina called Pur Sang which makes EXACT replicas of classic cars such as Bugatti type 51s and Alfa Romeos of similar vintage. They charge around $300-500K for these replicas. In EVERY detectable way, they are exactly the same as the originals. Made the same way, same engines, same tires, dimensions, performance, etc. So that makes them worth the same as the originals, right? Not even close. The originals are multi-million dollar machines. Why? You'd be hard pressed to tell the difference without subjecting them to comparative metallurgical analysis or something. Well, the originals are worth more because the market says they are. And having the reproductions in circulation (in this case at least) doesn't detract from the originals' value.
Now don't get me wrong, I think we're in a bubble/mania of epic proportions with a lot of this crypto stuff, and ascribing long term value to ANY 24px piece of 'art' regardless of provenance is foolish. But then again I'm not setting the market either, so eh? If you can find the angles and ride the waves without getting dashed on the rocks, more power to you.
Here's a couple things to think about: land isn't necessarily non-fungible. Say you have two plots of land. They're the same size, have the same access, the same climate, the same local regulations, the same elevation, the same drainage, etc etc. Before you say that's not a real case, imagine a huge plot of farmland that you divide in 2. Or take 2 corners out of, etc. They're not IDENTICAL, but for practical purposes such as growing food, they are the same. It would only be if you ascribed some other non-practical purpose that the 2 plots of land in this example would attain different values. IE: this one once belonged to my father, this one was the site of an alien landing, this one was where Napolean Bonaparte once caught the crabs, etc.
Another example which kind of enforces James' interpretation is the world of kit cars and reproductions. There's a company in Argentina called Pur Sang which makes EXACT replicas of classic cars such as Bugatti type 51s and Alfa Romeos of similar vintage. They charge around $300-500K for these replicas. In EVERY detectable way, they are exactly the same as the originals. Made the same way, same engines, same tires, dimensions, performance, etc. So that makes them worth the same as the originals, right? Not even close. The originals are multi-million dollar machines. Why? You'd be hard pressed to tell the difference without subjecting them to comparative metallurgical analysis or something. Well, the originals are worth more because the market says they are. And having the reproductions in circulation (in this case at least) doesn't detract from the originals' value.
Now don't get me wrong, I think we're in a bubble/mania of epic proportions with a lot of this crypto stuff, and ascribing long term value to ANY 24px piece of 'art' regardless of provenance is foolish. But then again I'm not setting the market either, so eh? If you can find the angles and ride the waves without getting dashed on the rocks, more power to you.
James
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You can't create this exact penny I have on my desk either, but oh my gosh I just checked and it's still fungible.
Lol, you're such a dumbass. Try re-reading that post again and see if you can catch the sarcasm.