4 ms·
NFT is low tech scam. I'm surprised so much money were attracted. Must be very good marketing campaign.
by vbezhenar 5y ago
NFT is low tech scam. I'm surprised so much money were attracted. Must be very good marketing campaign.
- arcticbull 5y agoLots of wash trading to bid up prices and create the impression of enthusiasm. Drags in the suckers. Like Logan Paul and his 99.9% loss on a $600,000 investment. He is the biggest fool. [1] But hey, he was in it for the tech/art right? He's still got the weird yellow robot bee thing. [1] https://twitter.com/coffeebreak_YT/status/1456701329368403972?s=20 https://twitter.com/coffeebreak_YT/status/145670132936840397...
- LurkingPenguin 5y agoThe best scams are usually low tech or even no tech.
- can16358p 5y agoThe idea of NFT is not scam, but the current scene is more like it. Not exactly like scam but more like a super-hyped balloon.
- vbezhenar 5y agoI'd expect better technical foundation to sell something so expensive. Like guaranteed formats, guarantees for storing hashes, unique guarantees, some kind of image perceptual hash, some kind of P2P distributed storage for data itself. So even non-technical buyer can be sure that goods he bought are protected. Right now you need to ensure that NFT data is stored on IPFS, you need to ensure that IPFS data including that JSON file will not disappear, you need to check blockchain to prevent multiple sells (and you can't prevent someone to sell dupes in the future). Right now NFT seems like few bytes pretending to be some kind of URL and that's about it.
- can16358p 5y agoSure, I agree with your technical foundation views. What I meant is that the basic idea of NFTs is promising, but the current implementation is nothing practical.
- Kiro 5y agoNone of that matters. What gives NFT its value is that it was minted by X. It's purely a social contract so it doesn't need any technical foundation.