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This always comes down to how you understand value. How valuable is Jimmy Hendrix guitar pick? How valuable is a lok of Justin Biebers hair? How valuable is a
by ThomPete 6y ago
This always comes down to how you understand value.
How valuable is Jimmy Hendrix guitar pick? How valuable is a lok of Justin Biebers hair? How valuable is a book owned by Charles Darwin?
Of course NFT is a bubble just like about every other thing humans create, but humans will always attach value and meaning to dead things even digital ones.
And so NFTs can be used for many things including allowing people to buy something overhyped that will depreciate in value.
That's all good, the more of this the better.
- aklein 6y agoOnly in this case the value is stored in “digital gold”. Unlike gold, which is chemically stable, I’m far from convinced the digital format itself will end up sticking around long term.
- ThomPete 6y agoNot sure about your definition for long term. TCP/IP looks pretty solid to me. NFT is basically TCP/IP with memory, why shouldn't that be useful for all sorts of things? Bitcoin is more like gold, NFTs are more like network based consensus validation of ownership.
- aklein 6y agoRight, but unlike TCP/IP, which is a stateless protocol, the validation of an NFT requires a specific blockchain. While Bitcoin and Ethereum seem to be “here to stay”, they both seem under constant competitive pressure from other blockchains.
- ThomPete 6y agoSilver and gold live side by side.