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You seem to have a very flawed, fundamental misunderstanding of either the term opaque, or what a public ledger is. There is nothing opaque about bitcoin transa

You seem to have a very flawed, fundamental misunderstanding of either the term opaque, or what a public ledger is. There is nothing opaque about bitcoin transactions. They are all (every single one of them) open to the public. They are more traceable than cash transactions and more public than bank transactions. > please tell me why are we replicating them them again but in worse way? But this is just your disputed opinion. It is like asking "why is Kanye always singing and selling bad new songs, and we already have the beatles". Because they can and want to.

Yizahi 5y ago
Bitcoins are transparent, that I don't contest. Now please tell me how do Bitcoins specifically facilitate "proof of ownership" of stuff? Because that's where this thread started, that crypto will somehow do this, according to crypto fans.
- orange8 5y ago
  Short answer: passwords The very same way your online bank account facilitates "proof of ownership" of that said bank account.
  - Yizahi 5y ago
    Lolno. You are completely mistaken about what ownership means. I don't own my bank account (it's complicated), I don't own my HN account. Password is only used to authenticate and authorize me on the digital property owned by someone else - PG or bank corporation.
    - orange8 5y ago
      You do own your hacker news account. If someone hacks into your computer, and makes stupid comments while pretending to be you, you have every right to seek compensation. Because you actually OWN your hacker news account, in the very same way you OWN the house you are renting. Your landlord cannot just rock up to your house tomorrow, walk in and sit in your yard for an hour because they "own" the house. So yes, you are right! Ownership is and can be complicated, and NFT ownership is no different. ;)
      - nanobyte 5y ago
        This simply isn't accurate. Blockchain isn't new. Guess what? People were implementing distributed ledger technology way back in the 2000s. By the early 2010s, this was already mainstream. I implemented tracking and tracing for a Japanese multinational pharmaceutical company over a decade ago--which allowed for traceability throughout every step in the supply chain, from manufacturing to consumer. Other friends and acquaintances did the same for the agricultural industry, facilitating rapid and immediate tracing of contamination events (e.g. E. coli outbreaks). And they made a fortune doing so. NFTs are somewhat comically reminiscent of Windows install CDs. If you're not familiar, find a tech-savvy millennial (or anyone of a prior generation), and ask them what the coveted CDs were like. They were carefully wrapped in plastic, surrounded with multiple folds of high-quality heavy duty paper. And once unfurled, buyers were presented with a holographic rainbow explosion of colors. All of which was intended to connote "ownership", and to carefully shroud the all mighty "Product Key" (aka crypto token). Such elaborate technology. And yet, how many people actually payed for Windows? NFTs appear to be the modern equivalent. iOS will happy record what's on my screen, no matter the purported DRM, and at high resolution nonetheless. What's to stop someone from sharing a photograph of the Mona Lisa NFT? I'm only suggesting to take a step back, and zoom out from the hype. Plus ça change, plus c'est la même chose. Everything old is new again, my friend.

Yizahi 5y ago

Bitcoins are transparent, that I don't contest. Now please tell me how do Bitcoins specifically facilitate "proof of ownership" of stuff? Because that's where this thread started, that crypto will somehow do this, according to crypto fans.

orange8 5y ago
Short answer: passwords The very same way your online bank account facilitates "proof of ownership" of that said bank account.
- Yizahi 5y ago
  Lolno. You are completely mistaken about what ownership means. I don't own my bank account (it's complicated), I don't own my HN account. Password is only used to authenticate and authorize me on the digital property owned by someone else - PG or bank corporation.
  - orange8 5y ago
    You do own your hacker news account. If someone hacks into your computer, and makes stupid comments while pretending to be you, you have every right to seek compensation. Because you actually OWN your hacker news account, in the very same way you OWN the house you are renting. Your landlord cannot just rock up to your house tomorrow, walk in and sit in your yard for an hour because they "own" the house. So yes, you are right! Ownership is and can be complicated, and NFT ownership is no different. ;)
    - nanobyte 5y ago
      This simply isn't accurate. Blockchain isn't new. Guess what? People were implementing distributed ledger technology way back in the 2000s. By the early 2010s, this was already mainstream. I implemented tracking and tracing for a Japanese multinational pharmaceutical company over a decade ago--which allowed for traceability throughout every step in the supply chain, from manufacturing to consumer. Other friends and acquaintances did the same for the agricultural industry, facilitating rapid and immediate tracing of contamination events (e.g. E. coli outbreaks). And they made a fortune doing so. NFTs are somewhat comically reminiscent of Windows install CDs. If you're not familiar, find a tech-savvy millennial (or anyone of a prior generation), and ask them what the coveted CDs were like. They were carefully wrapped in plastic, surrounded with multiple folds of high-quality heavy duty paper. And once unfurled, buyers were presented with a holographic rainbow explosion of colors. All of which was intended to connote "ownership", and to carefully shroud the all mighty "Product Key" (aka crypto token). Such elaborate technology. And yet, how many people actually payed for Windows? NFTs appear to be the modern equivalent. iOS will happy record what's on my screen, no matter the purported DRM, and at high resolution nonetheless. What's to stop someone from sharing a photograph of the Mona Lisa NFT? I'm only suggesting to take a step back, and zoom out from the hype. Plus ça change, plus c'est la même chose. Everything old is new again, my friend.