3 ms·

> the scarcity of that is real. Scarcity on it's own does not equal value. The value comes either from social consensus or direct utility. Real numbers are sc

> the scarcity of that is real. Scarcity on it's own does not equal value. The value comes either from social consensus or direct utility. Real numbers are scarce. There's only one of each.

theWreckluse 5y ago
> Real numbers are scarce. There’s only one of each. This gives me ideas! Who wants to join me in this new fad?
- andybak 5y ago
  I've already claimed all the rationals so hurry up.
reaperducer 5y ago
Scarcity on it's own does not equal value This is an important point that a lot of the crypto bros don't seem to grasp. Antiques and thrift stores are crammed with millions of things that are scarce. One-of-a-kind, even. But still nobody wants them. Eventually the cost of storing them becomes more than they're worth, and they go into the trash.
loceng 5y ago
This thread is the perfect example of a lack of grounded thinking in the Bitcoin/crypto community - a disconnect from practical reality. I first noticed this incongruence with time tested business models when all Bitcoin related business plans/pitch decks, they'd never even list price comparisons as a competitive factor - arguably the #1 most important metric to address when wanting to disrupt an industry or model.
- Kiro 5y ago
  I don't think the crypto community thinks it's magically is something it's not. Most serious NFT investors are probably well aware that all they're buying is just a ledger entry. Blockchain has almost no practical uses right now but it does provide a way to make something digitally unique, even if it's just a JSON with an ID and an URL. Not saying the data is unique but the ledger entry is. Only one wallet can own it at a time and it's easily proven. Maybe it will never have any practical applications but I don't see how that could be done without a blockchain.

3 ms·

> the scarcity of that is real. Scarcity on it's own does not equal value. The value comes either from social consensus or direct utility. Real numbers are sc

by andybak 5y ago

> the scarcity of that is real. Scarcity on it's own does not equal value. The value comes either from social consensus or direct utility. Real numbers are scarce. There's only one of each.

theWreckluse 5y ago
> Real numbers are scarce. There’s only one of each. This gives me ideas! Who wants to join me in this new fad?
- andybak 5y ago
  I've already claimed all the rationals so hurry up.
reaperducer 5y ago
Scarcity on it's own does not equal value This is an important point that a lot of the crypto bros don't seem to grasp. Antiques and thrift stores are crammed with millions of things that are scarce. One-of-a-kind, even. But still nobody wants them. Eventually the cost of storing them becomes more than they're worth, and they go into the trash.
loceng 5y ago
This thread is the perfect example of a lack of grounded thinking in the Bitcoin/crypto community - a disconnect from practical reality. I first noticed this incongruence with time tested business models when all Bitcoin related business plans/pitch decks, they'd never even list price comparisons as a competitive factor - arguably the #1 most important metric to address when wanting to disrupt an industry or model.
- Kiro 5y ago
  I don't think the crypto community thinks it's magically is something it's not. Most serious NFT investors are probably well aware that all they're buying is just a ledger entry. Blockchain has almost no practical uses right now but it does provide a way to make something digitally unique, even if it's just a JSON with an ID and an URL. Not saying the data is unique but the ledger entry is. Only one wallet can own it at a time and it's easily proven. Maybe it will never have any practical applications but I don't see how that could be done without a blockchain.