5 ms·

This does feel like my opinion on NFTs / Cryptocoins.

BLKNSLVR 5y ago
Extend the idea of NFTs to actual registered ownership of a thing you care about, like the title of your house, or your rental agreement, rather than a fucking pixelated jpg a child would be ashamed of, and it might look like something a bit more representative of a worthwhile future.
- micromacrofoot 5y ago
  but why? I already have the title to my house
  - BLKNSLVR 5y ago
    All other examples of things being done electronically that were done physically go here.
    - Jensson 5y ago
      Property ownership is already recorded electronically.
    - Raidion 5y ago
      I think this isn't quite as implementable as they say it is. If someone breaks into a house, steals the crypto phrase from a little old lady, and moves a house into his name/address, should he really own it? If a Blockchain contract needs to be ratified by an external entity, is the Blockchain really worth it over a database owned by that external entity?
    - micromacrofoot 5y ago
      I have my title electronically. I see literally zero benefit to involving the blockchain, but there seem to be quite a few downsides.
- corobo 5y ago
  If you lose your wallet key do you have to move out?
- pjc50 5y ago
  > the title of your house This is the ultimate example of where you want a centralised database run by the state. Preferably properly "cadastral", so you can drop a coordinate pin anywhere and look up the owner.
- diab0lic 5y ago
  What happens when the chain devotes from reality? Let’s take the house title. I stop paying but refuse to sign a transaction giving up ownership. I get a divorce and destroy the key out of spite. I sell the house but have lost the key, can I never transact with my property again? The chain will drift from reality, in an uncorrectable way, reducing its usefulness over time.
- monsieurgaufre 5y ago
  The house of cards you are standing on doesn't seem to pass the "is it worth something to people who don't already have skin in the game?" contrary to the title of a house. Beanie babies aren't worth much now.
  - rchaud 5y ago
    To their credit, Beanie Babies holders were always upfront about their desire to make money. There was none of this fig leaf reasoning about how BBs are really a harbinger of a new paradigm of asset securitization.

Extend the idea of NFTs to actual registered ownership of a thing you care about, like the title of your house, or your rental agreement, rather than a fucking pixelated jpg a child would be ashamed of, and it might look like something a bit more representative of a worthwhile future.

micromacrofoot 5y ago
but why? I already have the title to my house
- BLKNSLVR 5y ago
  All other examples of things being done electronically that were done physically go here.
  - Jensson 5y ago
    Property ownership is already recorded electronically.
  - Raidion 5y ago
    I think this isn't quite as implementable as they say it is. If someone breaks into a house, steals the crypto phrase from a little old lady, and moves a house into his name/address, should he really own it? If a Blockchain contract needs to be ratified by an external entity, is the Blockchain really worth it over a database owned by that external entity?
  - micromacrofoot 5y ago
    I have my title electronically. I see literally zero benefit to involving the blockchain, but there seem to be quite a few downsides.
corobo 5y ago
If you lose your wallet key do you have to move out?
pjc50 5y ago
> the title of your house This is the ultimate example of where you want a centralised database run by the state. Preferably properly "cadastral", so you can drop a coordinate pin anywhere and look up the owner.
diab0lic 5y ago
What happens when the chain devotes from reality? Let’s take the house title. I stop paying but refuse to sign a transaction giving up ownership. I get a divorce and destroy the key out of spite. I sell the house but have lost the key, can I never transact with my property again? The chain will drift from reality, in an uncorrectable way, reducing its usefulness over time.
monsieurgaufre 5y ago
The house of cards you are standing on doesn't seem to pass the "is it worth something to people who don't already have skin in the game?" contrary to the title of a house. Beanie babies aren't worth much now.
- rchaud 5y ago
  To their credit, Beanie Babies holders were always upfront about their desire to make money. There was none of this fig leaf reasoning about how BBs are really a harbinger of a new paradigm of asset securitization.