Earlier quoted context omitted.
it would be selling a link to the location of a movie file.
Which would be better than all streaming platforms today who don't even let you download what you have bought
s/bought/licensed/
TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
151–160 of 257 posts
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#152I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
They are just the new ponzi scheme, the new penny stocks, the new internet scam. I dare anyone who claims to believe in NFTs to put their entire net worth in NFTs and put that into escrow for 10 years. The crypto eco-system is mostly about scams. It was interesting tech but it should just be outlawed at this point.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#153Earlier quoted context omitted.
Anyone buying an NFT is getting an NFT. Nobody is getting tricked, a necessary condition for a scam. Therefore there is no scam.
When they discover that what they bought is an NFT, some people are so mad that they blame everyone else for right-clicking.
Isn't this comparable to the guy in the Ferrari being mad at other drivers because he's in the same traffic jam as the rest or us?
I get where he's coming from, but that doesn't make it reasonable. And certainly not a scam by Ferrari.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#154Earlier quoted context omitted.
The timestamp and signature would disprove your claim, and evidence of your fraud would perpetually exist on the blockchain if someone wanted to hold you accountable.
Yeah this is the thing. You can’t prove ownership if you copy paste a jpeg or a url. You prove ownership with the blockchain.
The blockchain tells you that you "own" whatever was at the URL at the point of time that it was written onto the chain. There is no continuing or on-going guarantee that the content at the URL won't change after that. If there is no content hash in the receipt and the original URL is now defunct, how do you prove authenticity?
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#155I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
An NFT is a bit like going to a book signing. The author sits there, but instead of signing your book, he just hands you a piece of paper with a number printed on it and says "next". You also need to give him a pile of casino tokens in exchange.
With luck, somebody else will appreciate your story of how the famous author touched this uniquely numbered piece of paper while thinking about his book, and will give you a larger pile of casino tokens for it.
Whether anyone ever has a copy of the book doesn't really come into it.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#156I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
> There is nothing at all to keep me from screenshotting or otherwise downloading that image. I won't have to pay the author $213 for it, I just take the image because I can.
This is like saying: There's nothing stopping me from downloading the Bitcoin source and running my own network. Now I have bitcoins and I didn't have to pay someone $60k for each one.
Yes, you have bitcoins but they're not the bitcoins anyone cares about. Likewise, you have a copy of the image of this NFT but you don't have the actual NFT that members of that community care about. NFTs are a club and if you want to join you have to buy one.
Now, you can argue whether anyone should want to join such a club but that's a totally different issue from the right-click-save criticism.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#157Earlier quoted context omitted.
A scam implies someone is getting hurt. Yet I haven't seen anyone getting hurt. You might say that people will get hurt when the bubble pops but people have been saying the same thing about crypto for awhile.
No, that's not it. A scam implies that it's deliberate deception. People being hurt is neither here nor there. And obviously people ARE getting hurt, but that doesn't mean it's a scam. It's just a crazy bubble.
I would say being deceived is also getting hurt…
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#158I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
>Can someone, if such a person exists, that believes in NFT's as having actual value please explain it?
The market for paintings and other artwork has existed for centuries or millennia. I've never obtained value from it but many people did. To me it sounds stupid to pay much more than you would for something practically identical, unless you're betting on selling it for more later. I can't see how NFTs are different at all.
NFTs do have one considerable "advantage". It's trivial to have your money semi-anonymized in a blockchain, so it's even easier to launder money. It's also much easier to buy your own artwork for ludicrous amounts, so you can make money selling it after some newspapers pick up the story, and no one will suspect that you did it.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#159I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
They are just the new ponzi scheme, the new penny stocks, the new internet scam. I dare anyone who claims to believe in NFTs to put their entire net worth in NFTs and put that into escrow for 10 years. The crypto eco-system is mostly about scams. It was interesting tech but it should just be outlawed at this point.
So....you don't want an NFT for the deed to your house, instead of having to pay gobs of money to do a "search" for other people that might hold a copy of the same paper and be making claims with it?
Or an NFT of your shares of stock, so they can't be tampered with, or sold twice in short-sales, etc?
Do you really think cryptocurrency/cryptography nerds are into this technology for the jpegs?!
It's the underlying tech that's valuable — the jpeg art is just noise.
Re: TheNFTbay.org – The Billion Dollar Torrent (All NFT's from Ethereum and Solana)
#160I used to come onto HN and see crypto-coin news and I'd jump into the comments and ask something along the lines of "But isn't bitcoin and all the other things like it just a giant scam?" and someone who believed in Bitcoin to be a transformative technology would jump in and explain the real potential. I personally still think it's sort of a scam, but I'm happy for all of the people who used it to get rich....so, alo…
It's not about images. This is about digital authenticity and historical record that is easily verifiable in an open, global system. This is instantaneous transfer of those rights or assets to anyone else in the world. In-game purchases of items, tickets to an event, transfer any digital item and the verifiable rights/ownership of it. Mark Cuban has been a big proponent and has been implementing use cases and I think…
Bingo. Just because you download an nft doesn't mean you own it. Proof of ownership is achieved by signing a challenge with the wallet linked with the nft (as encoded on the Blockchain).