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The point of NFTs is to demonstrate that you have 30k to blow on something trivial. How many more articles do we need breathlessly trying to explain how they're
by superdisk 5y ago
The point of NFTs is to demonstrate that you have 30k to blow on something trivial. How many more articles do we need breathlessly trying to explain how they're technically stupid? I swear half of my Twitter feed is people that don't understand why they're popular and feel like if they can just use enough logic and condescension, then everyone will snap awake and the NFT craze will stop.
- deleted 5y ago[deleted]
- advisedwang 5y agoIt's not true that NFTs are only a status symbol. Firstly they are often pitched as an investment - something that will grow in value. Some folks are going to lose their shirts "investing" in NFTs, and I think that alone is reason enough to highlight issues with NFTs. Secondly there are other use cases already in use, such as Etherium Name Service, using NFTs as a DNS replacement. (although the criticism of this article apply less to how ENS is using NFTs). Finally, there are even more significant NFTs use cases pitched such as real estate deeds. This is where the article's points become really important.
- deleted 5y ago[deleted]
- 8note 5y agoENS sounds like it adds a weird requirement that your IP can only change when gas prices are low. If your IP gets issues and some new crypto dad is going, you've gotta wait to get your DNS working again, or pay through the roof to the folks who run ethereum. Does needing to change you IP correlate closely with ethereum transactions being cheap that day or something?
- qnsi 5y agoexactly. NFTs are one of the hacks for status. Somehow tech people would feel weird posting a photo on a yacht, but buying a jpg makes you cool.