Crypto

Discussion in 'Free Speech Alley' started by LSUpride123, Jul 14, 2020.

  1. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    right but again the key here is the false scarcity. the NFT is built on a lie. an imagined owner. its doomed for a flatline crash. its like me getting a notebook and writing down that you own the number 15. but everyone can still use it. but my notebook says you own it. but the only right to own it my notebook has is nothing. you can say you own it if you want. make your own blockchain and record yourself as the owner. who gives a shit?

    NFT is purely for dumb faggots. 100%. nobody else. faggots, and their supoorters.
     
  2. LSUpride123

    LSUpride123 PureBlood

    Joined:
    Oct 20, 2008
    Messages:
    31,425
    Likes Received:
    15,265
    NFT is just art in the digital realm. We have already gone over this. Your focus is on Art. There are many other uses of NFTs. However, like I said, companies will start using this tech in their video games, platforms, etc, in which there will be uniqueness and scarcity on these systems, platforms, games etc.

    It is just NFTs were created during a crypto pump so silly kids used them in silly ways.

    I dont know. I feel like you are arguing with yourself.

    98% of people on this forum probably dont even know how to buy BTC much less and NFT.
     
  3. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    in a video game/virtual world,the NFT is not needed to create scarcity. you can have one sword of dildoface per server without it being chronicled on the blockchain. in those worlds scarcity is a function of the game/world.

    and the video game company would want to sell lots of them anyways, as they have done with skins in fortnight.

    yes all of them are gay.

    if we want to, for example, authenticate a deed to a house on a blockchain, thats fine, but the value there is the house, not the digital deed.

    the NFT is itself a lie, as it is explicitly fungible
     
  4. LSUpride123

    LSUpride123 PureBlood

    Joined:
    Oct 20, 2008
    Messages:
    31,425
    Likes Received:
    15,265
    Or they can sell the same item over and over getting a cut.

    But again, you are not grasping that a NFT "item" can level up, change, etc. NFT is technology. It just got used on as you would say "jepegs" early on to take advantage of the crypto boom when they 1st came out.

    If we ever vote via blockchain technology digitally, NFTs will be used to verify each vote. Is that gay?

    Correct. There is value in the technology though.

    Its not. You just dont understand it I guess or you are just going back to your stance on art.

    For example, signed a deed to a home via the blockchain, that can never be forged. A user with an NFT key, owner of the house, can digitally sign and once that happens, its verifiable via a hash code unique to that NFT key. You cant recreate that key. Once you execute a smart contact on the blockchain, you would need levels of quantum computing to forge/hack that digital signature that does not exist yet.
     
  5. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    you agree tat this is not an item of value, its the actual house that is value, right?

    so you could destroy that deed, make another, and then its the exact same thing effectively, its a deed to a house. its not the same one as before. is a new one. and again, it has no value, it can be destroyed without consequence. its fungible.
     
  6. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    very gay because thats not the sort of technology we would use to record votes.
     
  7. LSUpride123

    LSUpride123 PureBlood

    Joined:
    Oct 20, 2008
    Messages:
    31,425
    Likes Received:
    15,265
    Did you miss where I said correct? I said there is value in the technology.

    If you destroy the deed, its not fungible if you signed it with a non-fungible key. The new deed would have a different hash code.

    The deed is not the home. The deed is this hypothetical is a digital item. Once signed via an NFT key, there is only one. They way the blockchain works is you would have the master key to restore the digital file, wallet, etc. That is the beauty of it. What you just described could never happen if you implemented this system.
     
  8. LSUpride123

    LSUpride123 PureBlood

    Joined:
    Oct 20, 2008
    Messages:
    31,425
    Likes Received:
    15,265
    Think of it like this, all the NFT tech is, simply, is a digital notary.

    Like much of crypto tech, its removing all the layers and "middle men".

    It just so happened some autistic kids attached Jpegs to them and sold them.
     
  9. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    but serve the same effective purpose. we are going in circles here. i already explained that money is fungible even though the dollar bill has a unique serial number on it. the unique hash is not relevant. its what it represents that has the value. the so called NFT is exactly and explicitly fungible because another one can do the job just the same.

    the the deed was in fact non-fungible then destruction of it would be terrible. but it isnt. its fine. the house exists and is still owned. just make another deed. fungible.

    or just generate a new digital file. fungible. again this is like saying my ether or bitcoin is not fungible because its unique hash, with records if transactions etc. but the whole point of the crytocurrency, and all currency is the fungibility! which NFT is!

    to say that its not fungible is to claim that crytopgraphy exists, numbers we do not know and therefore cannot replicate. yeah, we knew that. but its that the themselves that are not fungible, which is a non-point! its the value they represent that is the issue.
     
  10. Jmg

    Jmg Veteran Member

    Joined:
    Oct 1, 2015
    Messages:
    7,357
    Likes Received:
    4,622
    the reason i am telling you its a stupid market is that i understand this. you dont invest in notaries. you dont buy notaries. you buy cars and the notaries facilitate the exchange. you buy cryptocurrency itself, not the unique cryptography that represents the currency. the NFT that represents X only has value to the extent it represents X, like a house note is not itself valuable, the house is.

    we were told that digital items are scarce and not fungible, which is a lie. so again, NFT is only not fungible in a mathematical and useless sense.

    its like a bearer bond (or a dollar bill). you can own the bond and the stock it represents. you can also replicate the bond and deem the new one to represent the value. thats fungible.
     

Share This Page