It's not even the picture, it's the promise you own a picture
this post was submitted on 10 Nov 2023
679 points (95.6% liked)
Memes
45528 readers
1071 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
Imagine waving the receipt of your brand new TV you don’t have in your home around in public for prestige
It's more like you have a receipt for a link of where to get the manual for the TV.
And the picture itself is just a randomly generated picture of a money or a picture of Donald Trump photoshopped into something from the first page of Google images.
load more comments
(4 replies)
No they aren't NFTs are recipts. That is all they are. They can have a connection to images or physical goods but they only proove that you bought a recipt and not actual ownership.
load more comments
(4 replies)
Shes right an nft is a hallway to the picture. You don't even own to picture
load more comments
(1 replies)
I personally view crypto and the crypto boom as an experiment in unfettered capitalism - it's still a new technology, the governments haven't caught up to it yet so no regulations, yet quite literally 99% of crypto usage was in trying to take advantage of others (scams) and speculation.
The only thing with actual value that came out of crypto was probably Monero, which allowed for completely anonymous payments, something that crypto, when paired with crypto exchanges, is bad at.
That being if you can get yourself some Monero anonymously. I can see valid use cases for that, for example in the drug busines...
Maybe I'm not very knowledgable, but even Monero seems sketchy to me. I've clicked into what I thought were blogs about privacy that ended up being sites that exist only to promote Monero, once you look into them. That and the way certain accounts will do nothing but praise Monero just seems very greasy to me. I also wonder how it solves some of the other problems inherent to crypto, such as the environmental concerns.
For things like drugs like the person mentioned below, I don't think I'd trust someone who didn't just use cash.
load more comments
(5 replies)
NFTs are just USED for pictures. They actually had potential to solve real world problems, but jetzt isch d Katz de Bååm nuff as we say in hohenlohe.
NFTs
Note: this is how you spell it. Apostrophes are for possession & contraction …not making words plural.
That's not true, clearly an apostrophe means: "watch out, here comes an s!"
Correction:
That's not true, clearly an apo'strophe mean's: "watch out, here come's an 's!"
You forgot /'s
load more comments
(1 replies)
load more comments
(2 replies)
load more comments
(6 replies)
I was pretty shocked when I found out that NFT pictures aren't even stored in the block chain. NFTs are just records on the block chain with links to images stored on ordinary servers.
This is because you (in theory) need the whole blockchain to validate an NFT, so you want to keep it as small as possible.
But since you store the Cryptographic Hash of the image too, you can validate that the image on the server is actually the same one referenced by the blockchain. You could even move it to another server, but it will break the link obviously
Except you don't own that server and have no control over it, and if the server owner takes the image offline you're screwed
load more comments
(1 replies)
load more comments
(3 replies)
You don't even buy the photo, you buy the hyperlink to the photo. In a sense, your buying the treasure map to gold, but you can't have the gold.
load more comments
(2 replies)
FWIW nobody who is actually knowledgeable about crypto ever thought anything positive about NFTs. It's all just wallstreetbets types who read one article and think they're economists now. The tech is interesting and has applications but monkey jpegs are what idiots spent millions on for some reason.
load more comments
(10 replies)
Cryptobros incoming to tell us all the real-world problems blockchain's going to solve any day now in 3... 2...
I got 99 problems, but a blockchain solves none
The point of blockchains is decentralization, and as Lemmy users we know that decentralized services are difficult to make popular, even if they're an improvement over their competitors.
load more comments
(1 replies)
load more comments
(1 replies)
Physical money is just metal, plastic and paper.
The problem is the virtual value we give certain things.
Crypto ~~Bros~~ Losers would be really mad at reading that, if they weren't busy fellating the owners of BoredApes after they made them blind.
...
What? No, that's not a joke.
https://www.theverge.com/2023/11/6/23948464/bored-ape-nft-event-eye-injury-sunburn-uv-exposure
"Had a good time with the homies who also got their eyes burned". These people are unbelievably down there in the pathetic human scale.
load more comments
(1 replies)
I think NFT's had some promise for stuff you actually have to own (not some ape pictures). Like a digital version for maybe an invitation or tickets or if done properly (by your countries government for example) maybe even for stuff like licenses (i.e. driving license, welding license etc.) Or identification (passport, id, etc.)
For government documents you need nothing but a plain old certificate to create a digital signature. If there is a single instance of trust (such as a government) there absolutely no point in using a blockchain.
Decentral NFTs for concert tickets would only make sense if you were looking for a solution to liberate the second market, i.e. people selling tickets to other people without involvement of the host of the concert. Such a model is neither beneficial for the hosts (as they wouldn't benefit from the second market sales) nor the visitors (as the second market typically leads to even higher prices). If you meant a way to return/trade tickets on a platform controlled by the host / the original issuer of the tickets, then there's again no need at all for crypto aside plain old, stupid certificates.
load more comments
(5 replies)
Every single one of the examples you gave relies on some single centralized authority to give it value. Passports and licences are meaningless without a government. Tickets rely on the venue.
I have not heard anyone mention any application for NFTs that would work better than a database run by the agency that is required to give the document value.
Blockchain is a solution in search of a problem.
load more comments
(1 replies)
To be fair most art is just pictures (using the term picture loosely). That's not why the nft is dumb.
NFT Bros 🤝 Twitter Artists
Seething about their jpegs being stolen
"This comment is an NFT and if you screenshot this I will sue your ass without hesitation. Please paypal me 4500 USD if you would like this comment, and don't mess with me. I got my whole crypto gang on my side. We will fuck you up if you try stealing this comment, so don't fuck with us."
Why are they asking for fiat currency?
load more comments
(1 replies)
They're not even pictures. They're hyperlinks to pictures that may or may not even be there.
Famously, it's uncommon that your "NFT" ends up hyperlinking to a picture of a rug because the people running it know it's a scam.
load more comments
(3 replies)
view more: next ›