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> Like there only was one Bitcoin that was indivisible. You can transfer it to other addresses, but there can only be one at a time. That's all there is to it.
by zepto 5y ago
> Like there only was one Bitcoin that was indivisible. You can transfer it to other addresses, but there can only be one at a time. That's all there is to it.
Such a token is inherently worthless. The only value comes from rights that token can confer.
That’s why people are trying to associate them with objects of real-world value.
- capableweb 5y ago> Such a token is inherently worthless Do you see data as being inherently worthless as well? Because that's all there is, data. And according to the current market, it's not worthless, just like even if some people consider Bitcoin to be inherently worthless, there is a market that says it isn't.
- Volundr 5y agoHere's some data: 0.416411230181442 What's that worth? Data by itself is inherently worthless. It's only worth something if it represents something we care about. This could be something fictional (e.x. a video game world), or real (a warehouse inventory), but on it's own? Worthless. You say an NFT is a cryptocurrency with a single individual token and... what? It's a piece of data, but what can I do with it or what can I get out of it? I can send it to someone else? Cool, what can they do with it? What benefit is there? That's the big question I've at least yet to seen answered satisfactorily. I get there's a market for this currently, but once upon a time there was a market for pet rocks (which unlike NFTs can at least be pleasing to look at). Markets can be irrational, and the fact that there is a market price for something does not inherently mean that something has value.
- archagon 5y agoLisa, I want to buy your data.
- zepto 5y agoYour response is a non-sequitur. I said: “The only value comes from rights that token can confer.” Did you not see that?