3 ms·
None of which in any way responds to what I said. NFTs, by design, have no fraud prevention mechanism and no mechanism for getting your money back if you were s
by Godel_unicode 5y ago
None of which in any way responds to what I said. NFTs, by design, have no fraud prevention mechanism and no mechanism for getting your money back if you were scammed. They allow for arbitrarily many tokens to be minted of the same thing, with no obvious mechanism for people to realize that's what's happening.
- neuralzen 5y agoSmart contracts can and do limit the amount which can be minted. And fraud exists everywhere, regardless of institutional controls - this is where community matters.
- Igelau 5y agoFunny how community came up in the article as one of the ways NFT is really just MLM...
- neuralzen 5y agoCommunity comes up in every facet of life...what's your point here?
- extr 5y agoBut you can just make a new smart contract that does the same thing, no? Smart contracts themselves can just be copied. And saying that the "community" will take care of the fraud issue - isn't this a step backwards?
- neuralzen 5y agoSure, but it has a different address...there is no possibility of confusion. Something from the 1950s is not going to be confused with something from the 1980s, especially with a blockchain timestamp.