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I don't fully understand your logic. Are you saying that theft will prevent the adoption of this technology? People get shit stolen in the real world, and in t
by csallen 5y ago
I don't fully understand your logic. Are you saying that theft will prevent the adoption of this technology?
People get shit stolen in the real world, and in the current implementation of the internet all the time. What happens when your Google account gets fished and someone steals tens of millions of dollars from your company? Do we shut down the internet and call it a day? No, not really. It has no effect on adoption.
The fact is that when you invent the ship, you invent the shipwreck. So it goes with all new technologies, and so it always has. Have we ever simply said, "Welp, there are costs to go along with the benefits of this new tech. Let's just give up here!" Not to my recollection. We simply make the ships more crash-resistant.
The problems with new tech are almost always obvious early on, but the solutions require creativity and frequently result in hugely successful businesses.
Consider early criticisms[0] of the internet from 1995:
> "Every voice can be heard cheaply and instantly. The result? Every voice is heard. The cacophany more closely resembles citizens band radio, complete with handles, harrasment, and anonymous threats. When most everyone shouts, few listen." True enough. There's a cacophony. So what? The internet survives. Algorithms rank posts and tweets and surface the best insights.
> "How about electronic publishing? Try reading a book on disc. At best, it's an unpleasant chore: the myopic glow of a clunky computer replaces the friendly pages of a book. And you can't tote that laptop to the beach." True enough. So what? We got Kindles, and smart phones, and higher-res screens, and people bring laptops to cafes instead of beaches.
> "…the Internet is one big ocean of unedited data, without any pretense of completeness. Lacking editors, reviewers or critics, the Internet has become a wasteland of unfiltered data. You don't know what to ignore and what's worth reading. Logged onto the World Wide Web, I hunt for the date of the Battle of Trafalgar. Hundreds of files show up, and it takes 15 minutes to unravel them…" True enough. So what? A few years later this problem was largely solved by Google, which is now worth a trillion dollars.
> "…who'd prefer cybersex to the real thing?"* Hundreds of millions of people are addicted to porn. Not saying it's a great result, but the fact remains that problems don't stop adoption.
And do you remember how much credit card fraud there was in 90s e-commerce, when security was trash and almost nobody was used to regularly checking their digital bank statements, so it would take weeks or months for people to even notice? Hell, there's still a lot of fraud today. E-commerce still reigns supreme.
Sure, people will get their NFT good stolen. It will happen frequently. It already has happened many times. This will not hurt NFT adoption. It will simply spur innovation in security and defense, which it already has if you actually look into early solutions (e.g. custodians, insurance).
At best, you're simply pointing out problems that people will innovate to solve.
[0] https://www.newsweek.com/clifford-stoll-why-web-wont-be-nirvana-185306 https://www.newsweek.com/clifford-stoll-why-web-wont-be-nirv...
- TheProbes 5y agoThis is really dumb sorry. Just one great big "waddabout" going on and on about problems OTHER tech has, and not addressing my question at all. I'll ask again. The University sends your medical degree to someone with the same surname as you by mistake and you get their basket weaving degree. They refuse to return it. What do you do? You go to the university, and they check their CENTRALISED MASTER RECORD, notice the mistake, and fix it. So. #1: Why do you need blockchain at all? #2: How can you have your blockchain system WITHOUT also having a centralised database somewhere? The answer, as always with blockchain, is "So I can sell you a token." Always.
- csallen 5y agoIn your example, who cares if the university has a centralized master record of the degrees they choose to recognize? If they choose to tell everyone on earth that the degree they gave me was baloney or false or was revoked, that's their prerogative. If they choose to record coin NFTs and the blockchain aren't meant to prevent that. What NFTs guarantee is that the degree the school gave me is still mine. Without NFTs, they could not only revoke my degree, but also delete it from their database and leave me with no proof I graduated from there whatsoever, since I never really owned the degree as property. But with NFTs, no matter what they change or delete in their centralized database, my degree still exists as my property in my decentralized NFT wallet, and the school can't delete or take that back. Which is how property should work! In the real world, if my alma mater were to revoke my degree, they'd update their databases, but they wouldn't also come to my house, find my paper degree, and rip it up. Now this is obviously a contrived example, because the entire point of a degree is to say, "Look! <AuthorityX> thinks highly of me!" So of course if the authority changes their mind about that, then your degree is worthless whether you still own it or not. In a less contrived example, there might be property you own that's valuable regardless of the original owner's opinion of you or any records they keep in their database. For example, if you get a magical sword in World of WarCraft in NFT form, you now own that, and you can use it in other games that choose to recognize and represent that NFT. Even if you get in a fight with Blizzard's CEO, and he orders his minions to delete your account from their servers, you'll still have the NFT, and other games will still respect it. Whereas in a world without NFTs, the only way for other games to even know you had the sword would be to query Blizzard's servers, so you would be fucked in this scenario, because Blizzard would delete all records, because they owned the records, not you.