4 ms·

Genuinely curious: does the concept of intermediary-less digital ownership get you emotional? And if so, why?

• mminer237 5y ago
  No, the concept sounds neat and impractical, but I don't care much about it. The implementations get me a bit angry. They enable criminals to extort and launder funds. They've led to massive profits for speculators at the expense of ignorant people throwing their own money into the bubble. They haven't benefited the average person at all. Bitcoin wastes monumentous amounts of energy, raising the price for everyone else and further polluting the earth; it has wild value fluctuations, making it completely unusable as a currency; and it has no underlying value. Then NFTs aren't even really ownership. You're buying the right to record a ownership of a hash. It just makes people feel like they own something unique. If you actually want to buy a digital assets without an intermediary, you contact the creator of a work and have him e-sign a contract giving you the copyrights in it. Boom. No need for a intermediary like OpenSea to skim its 2.5% off the top like NFTs do in practice, and you actually gets real rights in the work. People just don't do that because they don't want to actually give up something of actual value, they just want to rip people off, and because it's boring. NFTs are just a fad.