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Kreeblah posted:So, wait, some rando generated some tokens, says they represent public domain art, and is selling them to people? the nft is a ledger entry that happens to correspond to a picture. It doesn't grant you any rights whatsoever in relation to that picture. so in other words, it's just a ledger entry you paid lots of money for, also it melts icebergs.
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Mar 14, 2021 09:42
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Love to see the tech world go gaga over AccelerationCoin.
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Mar 14, 2021 09:44
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it's like paying an accountant $50,000 to record a $50,000 expense item in your ledger, but setting the background image of that item to the Mona Lisa. Also the accountant burns a few drums of oil.
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Mar 14, 2021 09:50
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The fplus did a reading ages ago of a website where you could trade celebrities for your virtual slave harem and ERP about it. It's that with less ERP and more jacking off
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Mar 14, 2021 09:56
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BonHair posted:It seems like NFTs could potentially be useful if they were connected to something real. And if proving ownership wasn't already a pretty much solved problem. How could they ever be useful at all. Buying an URL and a hash value doesn't mean much of anything.
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Mar 14, 2021 10:04
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Fame Douglas posted:How could they ever be useful at all. Buying an URL and a hash value doesn't mean much of anything. Money laundering, I guess? Also since it's ETH based congrats these NFTs are partially why it's loving impossible to find a GPU now
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Mar 14, 2021 11:26
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3D Megadoodoo posted:Don't give them a chair, though, as the cops will just take it and post photos of it on Facebook to show they're fighting homelessness by fighting the homeless. Maybe we should eradicate homelessness, facebook, and cops.
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Mar 14, 2021 11:36
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ynohtna posted:Maybe we should eradicate homelessness, facebook, and cops. not with the same methods though please
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Mar 14, 2021 12:48
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nft stuff is just another way to launder money. also some of the early big splashes were people buying them from themselves to drum up volume/interest.
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Mar 14, 2021 13:02
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NFT’s nuts
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Mar 14, 2021 13:05
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fanfic insert posted:not with the same methods though please gently caress, marry, kill
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Mar 14, 2021 13:14
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Fame Douglas posted:How could they ever be useful at all. Buying an URL and a hash value doesn't mean much of anything. In a capitalist society, having indisputable proof of ownership is very useful and valuable. I'm gonna say it's useful in a good society to, just only for personal property, and even then less so. Also owning a URL that's attractive is kinda super valuable. Some guy bought corp.com early on and recently sold it for 1.7 million dollars to Microsoft. Burning an iceberg to prove ownership is dumb though, and the fact that owning the hash doesn't actually mean you own anything "real" makes it dumb. But in theory, using NFTs in audit trails could make sense. Just use old fashioned audit trails though, they work 99% as well.
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Mar 14, 2021 13:20
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BonHair posted:In a capitalist society, having indisputable proof of ownership is very useful and valuable. I'm gonna say it's useful in a good society to, just only for personal property, and even then less so.
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Mar 14, 2021 13:27
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Splicer posted:What's the remaining 1%. I'll wait. It's losing your loving receipt that you only had on paper. An offense that incidentally was punishable by death under the Code of Hammurabi.
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Mar 14, 2021 13:30
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BonHair posted:It's losing your loving receipt that you only had on paper. An offense that incidentally was punishable by death under the Code of Hammurabi. so something that never happens anymore, ok
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Mar 14, 2021 14:18
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BonHair posted:It's losing your loving receipt that you only had on paper. An offense that incidentally was punishable by death under the Code of Hammurabi.
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Mar 14, 2021 14:24
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BonHair posted:It seems like NFTs could potentially be useful if they were connected to something real. And if proving ownership wasn't already a pretty much solved problem. Well yeah, it's the same idea as GPG pretty much, except they replaced the "got the certificate to check against from a trusted source" part with BlOCkCHaiNz!!!! There's a value in being able to tell that the binary package I just downloaded for my Debian machine is unmodified since it was signed by the same source I got the certificate from, although I'm trusting that the certificate I have is from who I think it is in the first place. The NFT could be useful as evidence of receipt of stolen goods I guess, if they weren't stealing from poor content creators.
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Mar 14, 2021 15:07
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Splicer posted:"Did you pay by card? OK let me look that up for you" More like "oh, you say you bought it? Well can you show me the proof, you thief?" But yeah, agreed, it's rare but not completely unheard of that a reliable trail doesn't exist. That why I said 99%. At least in Denmark, thanks to GDPR, you have to erase your records after 6 years for ordinary financial records if they contain personal information on the buyer (or seller I guess), which would also potentially erase your trail. Just to be clear, NFTs are not the solution to this in any real way, it is in fact not a real problem.
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Mar 14, 2021 15:13
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BonHair posted:In a capitalist society, having indisputable proof of ownership is very useful and valuable. I'm gonna say it's useful in a good society to, just only for personal property, and even then less so. An NFT isn't "indisputable proof of ownership" of anything, just because you bought a hash value doesn't mean you own the content linked at all. It's an URL with a hash value, nothing more. You also don't own the URL, the NFT contains an URL. The URL and the content it points to are independent of the NFT. NFTs aren't "audit trails" in any way. Fame Douglas has issued a correction as of 15:20 on Mar 14, 2021 |
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Mar 14, 2021 15:18
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Fame Douglas posted:An NFT isn't "indisputable proof of ownership" of anything, just because you bought a hash value doesn't mean you own the content linked at all. It's an URL with a hash value, nothing more. You also don't own the URL, the NFT contains an URL. The URL and the content it points to are independent of the NFT.  I didn't realize they were hashing the URLs, I assumed it was the actual image data or something. NFTs are like an onion that gets stupider the more layers you peel off
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Mar 14, 2021 15:21
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Fame Douglas posted:An NFT isn't "indisputable proof of ownership" of anything, you need a contract proving ownership for that. It's an URL with a hash value, nothing more. You also don't own an URL, the NFT contains an URL Absolutely. But if you legalese the connection between the token and the object, you can use it as such. Which absolutely shouldn't be done.
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Mar 14, 2021 15:22
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Forseti posted:Well yeah, it's the same idea as GPG pretty much, except they replaced the "got the certificate to check against from a trusted source" part with BlOCkCHaiNz!!!! The NFT/Blockchain doesn't replace the trusted authority. Someone still needs to put the hash value of your Debian ISO up in the Blockchain, and you need to trust that authority. It does literally nothing to establish the authenticity of anything.
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Mar 14, 2021 15:23
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BonHair posted:Absolutely. But if you legalese the connection between the token and the object, you can use it as such. Which absolutely shouldn't be done. You can't, really. Someone else could have done the same thing not owning the rights to anything. Without a separate way to verify the ownership chain, buying a token really tells you nothing because you don't know whether the person selling you the token even has any rights to transfer. Anyone can create an NFT of anything, and the same thing can be put up on the Blockchain an infinite number of times.
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Mar 14, 2021 15:25
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It's like owning a Thunderfury except somehow even less useful
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Mar 14, 2021 15:27
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Forseti posted:
In 10 years, 99% of those extremely rare valuable art NFTs are probably going to 404.
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Mar 14, 2021 15:28
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Fame Douglas posted:The NFT/Blockchain doesn't replace the trusted authority. Someone still needs to put the hash value of your Debian ISO up in the Blockchain, and you need to trust that authority. It does literally nothing to establish the authenticity of anything. Oh ok, so I think it's even stupider than I thought? Like they're just computing a hash of the "work" and popping that into a lovely database that spends 99.999999% of its power pissing off the Lorax?
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Mar 14, 2021 15:30
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Colonel Cancer posted:It's like owning a Thunderfury except somehow even less useful buying a token that shows my ownership of the concept of linking thunderfury in trade chat, like a savvy investor
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Mar 14, 2021 16:24
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ynohtna posted:Maybe we should eradicate homelessness, facebook, and cops. The gently caress do you mean "maybe"?
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Mar 14, 2021 16:43
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i'm going to buy the moment when the amzing atheist poured hot wax on his pecker
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Mar 14, 2021 16:44
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thunder fury took work to get and had a use value.
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Mar 14, 2021 16:47
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BonHair posted:It's losing your loving receipt that you only had on paper. An offense that incidentally was punishable by death under the Code of Hammurabi. How's that any different from losing your crypto wallet because you accidentally deleted it
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Mar 14, 2021 16:54
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Forseti posted:Oh ok, so I think it's even stupider than I thought? Like they're just computing a hash of the "work" and popping that into a lovely database that spends 99.999999% of its power pissing off the Lorax? Yep. You are buying a hash of a picture or URL or whatever, that took the electricity requirements of disneyworld to record, and is only valid on that particular platform (and there's more than one, because of course there are).
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Mar 14, 2021 16:56
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What if someone just deletes the thing at the other end of the URL? Congrats, you now own the hash of a URL to a 404 error!
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Mar 14, 2021 16:58
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I don't understand what an nft is and I don't want to know
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Mar 14, 2021 17:05
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its just those name-a-star infomercials but for memes
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Mar 14, 2021 17:17
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Trafficking in NFTs is labor camp worthy imo
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Mar 14, 2021 17:17
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duz posted:its just those name-a-star infomercials but for memes Name-a-star is absolutely a ripoff but my fiancee named a star after her best friend who died young. It was like  and made her feel happyNFTs are just garbage and need to die
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Mar 14, 2021 17:19
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you can name a star without the certificate though
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Mar 14, 2021 17:22
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BonHair posted:More like "oh, you say you bought it? Well can you show me the proof, you thief?" e: also wouldn't GDPR make NFTs just flat illegal? Splicer has issued a correction as of 17:58 on Mar 14, 2021 |
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Mar 14, 2021 17:50
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BonHair posted:In a capitalist society, having indisputable proof of ownership is very useful and valuable. I'm gonna say it's useful in a good society to, just only for personal property, and even then less so. So what you’re saying is that the invention of writing was a good thing. Noted.
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Mar 14, 2021 18:23
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