It’s very expensive to add the actual image picture into the blockchain, so most NFTs actually contain a hyperlink and the NFT owner “owns” (because to my knowledge there’s no legal base to assert ownership) only that hyperlink within their token, not the image itself.
Thats true but they also usually contain things like the pictures hash so as long as you have the file you can always claim it (even if the hyperlink becane invalid).
Pretty much any kind of data related to the image is useless for verifying the actual image. For instance saving the exact same image with a different compression algorithm will make a new hash.
“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.”
“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.”
It’s a good thing they haven’t X-Rayed it yet. That might change the course of history. Although I suppose not as much as stopping life from ever existing on the Earth in the first place.
What the fuck. I’ve been to many, many clubs and shows with creative lighting, and never once heard of or experienced a problem like this. This had to be reckless ignorance on the event planners to result in something like this. Holy shit.
Nope! Not even that. Just an agreement between the scam arti- sorry, seller and the dumbfuc- sorry, buyer, that the rights to something have changed hands. Nothing more, nothing less.
Hey at least then you own a domain name and all of its subdomains and can make them point whatever you want and host whatever you want out of them. When you buy an NFT you own one URL on an image hosting site, whose content you don’t even control.
fair enough, but $12/yr for something I can do whatever I want with vs several grand once for an immutable monkey JPEG that i cannot do anything with except sell to someone else…
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.
Onion routing (like Tor) is the default for the Lightning Network. Every crypto that supports it already has private payments, including Bitcoin.
There’s no way to validate the total supply of Monero. So if it ever has a supply bug (like Bitcoin’s value overflow incident), then it won’t be detected and patched.
I don’t 100% disagree with him. Like he said, it is an additional risk. Assuming no supply bugs, you can validate what is published.
I just disagree with him that it’s “near zero probability”. This already did happen with Bitcoin and we only caught it because we weren’t assuming zero supply bugs. Bugs happen and we’re talking about the future money supply for all humans.
Edit to add: and BTW it’s not just cryptography bugs (rare), but anything related to validation (like value overflow)
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.
The level of the NFT craze was kind of wild though. I remember watching this Hot Ones interview with Mila Kunis where she mentioned “connecting with the audience through NFTs” and “the audience owns the art to the show”.
At the time I remember thinking that I don’t really understand how that would work in practice or what value NFTs really bring to this situation. I just assumed I didn’t understand. Turns out…nobody did. It’s just a bunch of bullshit.
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