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NFT misconception: JPEG aren't stored on the Blockchain

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Re: NFT misconception: JPEG aren't stored on the Blockchain

#241

Post by nieve »

thephyber wrote: post #173
amomo wrote: post #78

Funny to see this "epiphany" just now. Maybe one solution would be to store files on bittorrent and Blockchain pointing to a bittorrent link ? There are already multiple webclients for bt, this would not be an issue. Reliability would "just" depend on the number of peers

Website, BitTorrent, IPFS, etc all have the possibility for bit rot. There is, however, incentive for the person who currently owns the NFT to maintain the content at the current URL or their investment would suffer a loss of value.

Is it necessarily true that the owner of the NFT has any control at all over the server being pointed to? It seems highly unlikely to me that it's universal or even common.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#242

Post by e9 »

thephyber wrote: post #168
nuerow wrote: post #131

Earlier quoted context omitted.

> Universe rewards creativity What? That means nothing at all.

I read it as the spiritual idea that the universe is active in things like karma / prosperity gospel. I don't agree with it and I suspect this type of thinking captures lots of fools, but I would grant that it does "mean something".

There is little spiritual or foolish in this. When you solve a problem in a creative way, be it a cool application of an algorithm, a feature, a product, a clever bug fix, a clever marketing campaign, new way to raise money, etc, you get rewarded.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#243

Post by b3n »

iamwil wrote: post #188
b3n wrote: post #95

Earlier quoted context omitted.

> Each ENS domain name is an NFT. Wasn't Namecoin solving the same problem years before Ethereum existed? What makes ENS/NFTs novel?

I only know a cursory amount about Namecoin. That it was built on Bitcoin, but somehow failed. ENS is actually working, and recently launched their DAO for governance.

What do you mean by "failed"? It is an active project: usable and still in development.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#244

Post by vmception »

bananamerica wrote: post #234
vmception wrote: post #233

Earlier quoted context omitted.

Skin = database entry with metadata NFT skin = database entry with metadata The NFT skin inherits all the capabilities of the skin, except that the database entry cant be modified. You are a programmer right? Do you know the concept of inheritance in programming as it applies here. The market finds value in that assurance. I think you are bringing a lot of inaccurate preconceptions to this concept, there is an opport…

That's just a technical neatpick. The actual distinction is: a skin is something you use. An NFT is not. I do program, sure, but not everything is a programming metaphor.

> The actual distinction is: a skin is something you use. An NFT is not.

Is your assertion capable of being proven false, like for you to change your assertion? From where I sit, it only takes 1 person to use an NFT for your entire perspective to be invalidated, but it's not clear to me if thats satisfactory for you.

On the off chance you rely on an unfalsifiable view then this is only for anyone else passing by:

NFT collections were used during the NFT.NYC conference last week for access to exclusive parties that were not coordinated by the conferenced. Owners of Bored Ape Yacht Club NFTs were able to prove ownership for access to an actual yacht. Many corporate entrants to the space are aiming to replicate this. This will conitnue happening, it will happen at Art Basel, and some people are willing to forego other luxury status items to purchase the relevant NFTs for status and access instead.

If one were to move a goal post, would we be debating "use" here? I'm not sure.

In the digital space, people use NFTs every at high volume, with games like Axie Infinity having people earn access, and skins and upgrades for characters. Which can be traded off platform because they were NFTs being earned or generated (minted).

Re: NFT misconception: JPEG aren't stored on the Blockchain

#245

Post by bananamerica »

vmception wrote: post #244
bananamerica wrote: post #234

Earlier quoted context omitted.

That's just a technical neatpick. The actual distinction is: a skin is something you use. An NFT is not. I do program, sure, but not everything is a programming metaphor.

> The actual distinction is: a skin is something you use. An NFT is not. Is your assertion capable of being proven false, like for you to change your assertion? From where I sit, it only takes 1 person to use an NFT for your entire perspective to be invalidated, but it's not clear to me if thats satisfactory for you. On the off chance you rely on an unfalsifiable view then this is only for anyone else passing by: NFT…

Hey dude, I know we're on Hacker News but there's no need to come at people with logic fu. There's a rhetorical dimension to language. You can't really "win" like that, were debating, not playing fallacy UNO.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#246

Post by vmception »

bananamerica wrote: post #245
vmception wrote: post #244

Earlier quoted context omitted.

> The actual distinction is: a skin is something you use. An NFT is not. Is your assertion capable of being proven false, like for you to change your assertion? From where I sit, it only takes 1 person to use an NFT for your entire perspective to be invalidated, but it's not clear to me if thats satisfactory for you. On the off chance you rely on an unfalsifiable view then this is only for anyone else passing by: NFT…

Hey dude, I know we're on Hacker News but there's no need to come at people with logic fu. There's a rhetorical dimension to language. You can't really "win" like that, were debating, not playing fallacy UNO.

What are your thoughts on this reality I described, its at odds with your reality and I’m wondering if you have a response.

I may have jumped the gun imagining goal posts moving because its predictable, but I am still curious about your thoughts.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#247

Post by vmception »

TomSwirly wrote: post #240
vmception wrote: post #220

Earlier quoted context omitted.

So to be clear, no, that's not what the meme is about. Is your essay from GPT-3? It's about not offering anything to a discussion as they also don't even know about what tax is relevant. This person follows that rubric exactly, as they "suspect" a tax is involved, when a flash loan wash sale would just as easily not cause any tax at all and they offer no introspection into the nature of the transaction and what quest…

> Is your essay from GPT-3? No need to be insulting.

They got the joke wrong and imagined something completely different, that is completely fair game to be made fun of. Is that really whats considered toxic right now? I’m genuinely curious.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#248

Post by koonsolo »

newswasboring wrote: post #227
koonsolo wrote: post #215

Earlier quoted context omitted.

Blockchain is decentralized, so there is no "hosting server" of the NFT

There is, we are commenting on an article describing whats on the hosting server, namely the JSON for tokenURI field.

That is just a bad implementation of NFTs. Take a look at the Flow blockchain for example, which is probably the most famous NFT blockchain out there. They store all metadata in the token itself.

It's not fair to discuss NFT's by only looking at a bad implementation. Metadata is stored on-chain.

Re: NFT misconception: JPEG aren't stored on the Blockchain

#249

Post by newswasboring »

koonsolo wrote: post #248
newswasboring wrote: post #227

Earlier quoted context omitted.

There is, we are commenting on an article describing whats on the hosting server, namely the JSON for tokenURI field.

That is just a bad implementation of NFTs. Take a look at the Flow blockchain for example, which is probably the most famous NFT blockchain out there. They store all metadata in the token itself. It's not fair to discuss NFT's by only looking at a bad implementation. Metadata is stored on-chain.

I thought that was still in ideation phase[1].

[1]https://github.com/onflow/flow-nft/issues/9

Re: NFT misconception: JPEG aren't stored on the Blockchain

#250

Post by aorth »

thephyber wrote: post #174
aorth wrote: post #97

What happens when the domain in the tokenURI expires? Or when the HTTPS certificate expires? Or when the server gets hacked? Or the server changes owners? Or the server operator just decides to abscond? Etc... this is complete nonsense.

Caveat emptor. This is no different from due diligence when making any other form of investment. Observation: there is an incentive for the buyer to maintain the content (or perhaps even to replace with higher value content) at the URL. Perhaps NFT owners can band together to form a co-op / condo association if an NFT-content host site/domain goes down to maintain it. The next set of features I keep reading about in…

> Caveat emptor. This is no different from due diligence when making any other form of investment.

Thanks for taking the time to respond, but it's _literally_ the value proposition of "crypto" evangelists that this stuff will be around "forever" on the blockchain. When you invest in stocks or put money in a savings account there are shit tons of regulations against insider trading, fraud, etc, not to mention federal deposit insurance. With "crypto" you have nothing except a pinky promise from some developers, essentially, who say that their "blockchain" aka directed graph will be around forever!

> Observation: there is an incentive for the buyer to maintain the content (or perhaps even to replace with higher value content) at the URL.

Why would the buyer of the NFT have to maintain the content at the URL? It's pointing to an external, off-chain URL that the _seller_ chooses.

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