4 ms·

I think this is the right take. I'd add that having a globally readable ledger encourages interoperability in ways we can't yet appreciate. I believe that ERC

I think this is the right take. I'd add that having a globally readable ledger encourages interoperability in ways we can't yet appreciate. I believe that ERC-731 is valuable for the same reason that GIF89a is valuable. I don't think anyone in 1989 could have predicted meme culture and the importance of the gif, but it happened because an enabling technology (communicate with animations) arrived and people started experimenting. NFTs will probably become part of daily life in unexpected ways, because an enabling technology (cryptographic ownership of assets) has arrived and people are starting to experiment.

jagger27 5y ago
> I believe that ERC-731 is valuable for the same reason that GIF89a is valuable. GIFs can be created, parsed, read, played, copied, deleted on commodity hardware for free. GIFs became popular because they were so easy to exchange because video formats were so heavy and patent encumbered at the time (less so than GIF was, anyway). The cultural phenomenon of reaction GIFs arose because of its accessibility. Tell me how a child is supposed to safely do the following: easily create a wallet, somehow get some Ethereum, and starts minting and/or buying NFTs. None of that is even remotely comparable to ease of use of GIFs on the internet. If you want to argue that "cryptographic ownership of assets" is going to be commonplace, that's fine, but only for strictly digital onchain assets. It's never going to apply to any asset in meatspace because humans have sticks and stones to get what they want and renders your claims irrelevant. If you lose access to your wallet for whatever reason, be it fire, flood, social engineering, forgetting your password, death, solar flare, it's gone forever. If you depended on it for anything important, there's no recourse. Let's say there are cryptocoin insurance companies. How do you prove that you don't secretly still have access to your wallet? I am not buying it.

jagger27 5y ago

> I believe that ERC-731 is valuable for the same reason that GIF89a is valuable. GIFs can be created, parsed, read, played, copied, deleted on commodity hardware for free. GIFs became popular because they were so easy to exchange because video formats were so heavy and patent encumbered at the time (less so than GIF was, anyway). The cultural phenomenon of reaction GIFs arose because of its accessibility. Tell me how a child is supposed to safely do the following: easily create a wallet, somehow get some Ethereum, and starts minting and/or buying NFTs. None of that is even remotely comparable to ease of use of GIFs on the internet. If you want to argue that "cryptographic ownership of assets" is going to be commonplace, that's fine, but only for strictly digital onchain assets. It's never going to apply to any asset in meatspace because humans have sticks and stones to get what they want and renders your claims irrelevant. If you lose access to your wallet for whatever reason, be it fire, flood, social engineering, forgetting your password, death, solar flare, it's gone forever. If you depended on it for anything important, there's no recourse. Let's say there are cryptocoin insurance companies. How do you prove that you don't secretly still have access to your wallet? I am not buying it.