6 ms·

Yes? Even if you're exclusively referring to cryptocurrency when you say "purely digital money", it was already possible before the popularity of NFTs to accept

Yes? Even if you're exclusively referring to cryptocurrency when you say "purely digital money", it was already possible before the popularity of NFTs to accept cryptocurrency as payment for anything.

omarfarooq 5y ago
I'm saying you still needed https://eips.ethereum.org/EIPS/eip-721 https://eips.ethereum.org/EIPS/eip-721 to appear on the scene to facilitate NFTs, that implementation isn't as omnipresent as the possibility of buying anything with crypto.
- meheleventyone 5y ago
  But you don’t need NFTs to sell a digitally signed copy of a picture for say Bitcoin.
  - ClumsyPilot 5y ago
    A cryptographically signed picture may tell you its from a certain artists, but it cannot enforce uniqueness. There are only two options - tokens, and ledgers. Despite the name, there is no such thing as a digital token, because digital objects cannot move, they only copy. So you need a ledger, so basically something like a blockchain, to keep track of copies. https://dergigi.com/2021/01/14/bitcoin-is-time/ https://dergigi.com/2021/01/14/bitcoin-is-time/
    - meheleventyone 5y ago
      But a ledger doesn’t prevent copies of the art or duplicate tokens it just enforces uniqueness of the singular token. So you’re still left with the uniqueness problem. Essentially trying to create scarcity where there is none is a spectacularly silly idea.
      - tornato7 5y ago
        1. I am artist X 2. I have an Ethereum wallet and even own the ENS name X.eth 3. I mint an NFT that represents ownership of one of my digital works That NFT cannot be duplicated, because the Ethereum network enforces unique IDs for each ERC 721 token and prevents the double spend problem. What's more, I can look at the NFT and determined that it was indeed minted by artist X because it was his address that created it. The artist can later mint duplicate NFTs but everyone will still know which NFT came first.

omarfarooq 5y ago

I'm saying you still needed https://eips.ethereum.org/EIPS/eip-721 https://eips.ethereum.org/EIPS/eip-721 to appear on the scene to facilitate NFTs, that implementation isn't as omnipresent as the possibility of buying anything with crypto.

meheleventyone 5y ago
But you don’t need NFTs to sell a digitally signed copy of a picture for say Bitcoin.
- ClumsyPilot 5y ago
  A cryptographically signed picture may tell you its from a certain artists, but it cannot enforce uniqueness. There are only two options - tokens, and ledgers. Despite the name, there is no such thing as a digital token, because digital objects cannot move, they only copy. So you need a ledger, so basically something like a blockchain, to keep track of copies. https://dergigi.com/2021/01/14/bitcoin-is-time/ https://dergigi.com/2021/01/14/bitcoin-is-time/
  - meheleventyone 5y ago
    But a ledger doesn’t prevent copies of the art or duplicate tokens it just enforces uniqueness of the singular token. So you’re still left with the uniqueness problem. Essentially trying to create scarcity where there is none is a spectacularly silly idea.
    - tornato7 5y ago
      1. I am artist X 2. I have an Ethereum wallet and even own the ENS name X.eth 3. I mint an NFT that represents ownership of one of my digital works That NFT cannot be duplicated, because the Ethereum network enforces unique IDs for each ERC 721 token and prevents the double spend problem. What's more, I can look at the NFT and determined that it was indeed minted by artist X because it was his address that created it. The artist can later mint duplicate NFTs but everyone will still know which NFT came first.