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Here’s an amazing email from Hal Finney on proto-NFTs 1993- https://imgur.com/a/UJpFjzx https://imgur.com/a/UJpFjzx I think people who have been in bitcoin fo
by roweow 5y ago
Here’s an amazing email from Hal Finney on proto-NFTs 1993-
https://imgur.com/a/UJpFjzx https://imgur.com/a/UJpFjzx
I think people who have been in bitcoin for 10 years are more skeptical of NFTs because suddenly they’re framed as the ultimate crypto use case. And Eth is ultra sound money. And while there’s some interesting generative art (eg deafbeef) most of the industry is hyping NFTs for videogames.
There are better and more transformative use cases than just the “metaverse”.
- RNCTX 5y agoEverything is framed as the ultimate crypto use case, because crypto doesn't have a use case. No one needs money capped at 8 transactions per second world-wide, which costs ever-increasing amounts of electricity to trade. All of these things end up being an exercise in cryptocurrency people in a round-about way proclaiming to the world that they don't know what a thing is. For example: NFTs are a great idea to people who have never read an undergrad definition of what art is.
- LudwigNagasena 5y agoWhy would anyone care about an undergrad definition of what art is?
- devetec 5y agoYou do realize there are blockchains that don't suffer from just... not working? like PoS fixes the electricity issue, and there are many solutions to making transactions much cheaper, quicker, and having more bandwidth.
- p1necone 5y agoSure but a large portion of the current crypto market cap is in currencies that do have these issues, and I'm not sure how to explain that other than by assuming that that value is probably mostly speculation and not actual usefulness.
- SantalBlush 5y agoI don't see how this email is supposed to describe NFTs. This email describes cryptography being used as an artistic medium, which is different.
- echelon 5y agoI disagree. That email describes their scarcity, desirability, tradability, and monetary exchange. It's prescient. Twenty years ahead of implementation. Absolutely wild.
- SantalBlush 5y agoIt fails to describe what is unique to NFTs, specifically that they are secured and exchanged cryptographically. It's discussing collector cards that celebrate different methods of cryptography on the actual card. That is not even close to an NFT.