5 ms·
They are like picking up a grain of sand and trying to claim its rare. Yes, there is only one of that grain of sand you are holding but that doesn't mean a whol
by SilverRed 5y ago
They are like picking up a grain of sand and trying to claim its rare. Yes, there is only one of that grain of sand you are holding but that doesn't mean a whole lot.
- cortesoft 5y agoIt means the same as any other valuable thing in our society caused by artificial scarcity - limited printings, trading cards, dollar bills, stamps, Bitcoin, software, music, books, etc.
- SilverRed 5y agoWith most of these things, its all about using the item as a status symbol. Having a rare painting on your wall shows status. NFTs don't and likely never will have the same impact.
- cortesoft 5y agoThe people who are buying them are absolutely buying them as a status symbol, so that appears to be working.
- th0ma5 5y agoA great many people are starting to look down on NFT buyers and sellers. I'm not sure what status they provide since either someone has to maintain the chain somehow forever which is impossible, but also there isn't anything stopping someone from creating alternative timelines of sales.
- cortesoft 5y agoAlmost every status symbol is looked down upon by many people. That doesn’t mean there isn’t a group who admires it. The same thing could be said about other collectibles. There isn’t anything stopping people from printing their own baseball cards, but that doesn’t change the market.
- th0ma5 5y agoYeah but at least you'd have a baseball card. This is a number? I definitely get your point though.
- cortesoft 5y agoMany people say the same thing about Bitcoin. They aren't wrong, either, but they also miss the point that it doesn't matter if enough people decide to value it.
- th0ma5 5y agoRight no for sure. For instance people forked Bitcoin and suddenly everyone that held Bitcoin also held Bitcoin Cash. I can see the not too distant future where a dispute arises as to who owns a particular NFT though because of such kind of forks, possibly.
- th0ma5 5y agoI'm not sure why people buy NFTs, but I suspect they think it somehow implements digital rights management of a bill of sale, and it doesn't.
- th0ma5 5y agoExcept NFTs aren't artificially scarce, I'm not sure why people claim this. You can fork these chains just like how Bitcoin Cash was forked from Bitcoin.
- herendin2 5y agoBut Bitcoin Cash has much lower unit value than Bitcoin, indicating people see them as different things. That seems to weigh heavily against your argument, rather than supporting it.
- th0ma5 5y agoSo if I sell an NFT how many third party sales forked off of how many subsequent sales should I consider official or not? Also, during the split, they were worth about the same, and you could sell one for the other on many exchanges. Is this what NFTs are supposed to be?
- herendin2 5y agoIf you were asking me about details of NFTs, I have no idea, sorry. I was just disagreeing with the key point in your original argument
- th0ma5 5y agoExcept you can't copy a grain of sand, but you can endlessly fork a blockchain.
- SilverRed 5y agoWe don't have any realistic way to identify the grain of sand from others so the others may as well be the same thing except you have specifically blessed this one grain.
- th0ma5 5y agoOkay, I get the comparison :P and perhaps I'm being overly pedantic we're both making the same point for sure.