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> For the clown that paid $2.9 million for the first tweet He didn't pay for the first tweet, he paid for someone to create a hash of the URL of the first twee
by coldpie 4y ago
> For the clown that paid $2.9 million for the first tweet
He didn't pay for the first tweet, he paid for someone to create a hash of the URL of the first tweet. The distinction matters: the NFT scam works by tricking people into thinking they own the thing, instead of just a copy of a pointer someone made to the thing, which is what they actually "own."
- TimJRobinson 4y ago"He didn't pay for that Picasso, he just paid for some canvas and paint!" 99.9% of people don't care about the technicalities of how NFT's work, they buy them because they are valuable to them and everyone else believes they are valuable. Every single digital item anyone has ever bought, from Ebooks, to in-game items, to movies, is just a pointer to some bytes on a disk.
- Eisenstein 4y agoBut none of the things you mention besides NFTs are considered investments.
- Doxin 4y agoHe didn't pay for that Picasso. He paid for a receipt stating he owns that Picasso signed by crazy uncle Eddie. When you buy an e-book you don't pay for "proof of ownership" like with an NFT. When you buy an e-book you get an actual file containing the data of the book. With this file you can read the book. With "proof of ownership" you can do exactly nothing.