What on earth is a NFT?
Mar 29, 2021 15:51:01 #
Remember the ' collateralized debt obligations' (CDOs) that were so complex even the brokers pushing them couldn't explain them? They were the vehicles that nearly obliterated the Western economies. Now we have bitcoin and blockchain. Although blockchain can have some practical utility, the bitcoin aspect, and the obscenely energy-intensive 'mining' for bitcoin operations, ring just as inevitably fraudulent
NFT's are just another scheme about OWNERSHIP. It has nothing whatsoever to do with the creation of artworks, the majority of which are already just collateralized bullshit to begin with
NFT's are just another scheme about OWNERSHIP. It has nothing whatsoever to do with the creation of artworks, the majority of which are already just collateralized bullshit to begin with
Mar 29, 2021 18:46:05 #
hj
Loc: Florida
NFT or Bitcoin ........ I don't care about either. Someone is going to get burned and it isn't the experts pushing them.
Mar 29, 2021 21:31:09 #
rmalarz wrote:
I'm sure there will be some who will make money with these. However, I'm at a point where this sort of bullshit doesn't matter to me. Actually, I probably passed that point some decades ago.
--Bob
--Bob
Who gives a shit!!
Mar 30, 2021 17:42:07 #
twosummers wrote:
I know I'm getting old and I know the pandemic is getting to me but I have a couple of degrees and other post-graduate qualifications HOWEVER having given up trying to figure out Bitcoins and Blockchain I'm now reading about NFT's (or Non-Fungible Tokens to the initiated). I think it may be time for me to admit defeat!
I believe it’s something the wealthy people like to be the first ones to own. But how do you carry it around or hang it on the wall for others to see? I guess money will help with the answer.
Mar 31, 2021 17:25:54 #
The confusion lies in the purpose more than the implemtation. NFT is a scheme EXCLUSIVELY about proof of ownership and nothing else. A digital clone of the the object–be it physical or exclusively digital in nature–can be exhibited and reproduced the same as any other the same as any other. Digital works exists as bits of data with no physical presence unless printed/projected. Whether the rights of ownership are sold as blockchain is entirely separate from any work itself. Think of it as assignable copyright
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