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A comment on Stonks Are What You Can Get Away With: NFTs and Financial Nihilism. Parent comment

Re:Stonks Are What You Can Get Away With: NFTs and Financial... by jfim on Sunday June 20, 2021 @04:40PM (#27573705)
> This is the fundamental problem with NFT's as I see it -- there is fundamentally no way to tie it to a physical object.

There is actually. I can't find any references to it at the moment, but there are certain things that are easy to make but near impossible to clone. For example, particles suspended in epoxy can make for a unique pattern for each item that can be scanned and verified, but getting a duplicate pattern is nearly impossible, and not economically feasible.

The NFTs aren't really needed though, a manufacturer could just have a "scan this item with your phone to see if it's genuine" app and that would be sufficient.

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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by subhro on Sunday June 20, 2021 @05:04PM (#27573896)
> The NFTs aren't really needed though, a manufacturer could just have a "scan this item with your phone to see if it's genuine" app and that would be sufficient.

Again, the problem of a centralised ledger comes back.

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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by jfim on Sunday June 20, 2021 @05:18PM (#27574001)
Why would it? If brand X adds anti counterfeit detection in their products and makes a brand X validation app, what's the added value of the ledger?
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by subhro on Sunday June 20, 2021 @05:28PM (#27574085)
As we have seen, apps decay over time. So someone has to keep track of the app. Also, given unlimited time, all cryptographic algorithms can be brute forced, especially something that has the same key for all hashes. So, now you have the problem of maintaining a key for your "counterfeit detection", and somehow get older keys revoked. Do you see a ledger now?
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by TchoBeer on Sunday June 20, 2021 @09:36PM (#27575466)
why does our counterfeit detection need a key?
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by bradleyjg on Sunday June 20, 2021 @09:57PM (#27575558)
Someone gets rich quick on pre-mined coins.
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by catlifeonmars on Monday June 21, 2021 @12:24AM (#27576309)
I don’t think centralization is a universal problem. In many cases (one could argue the majority of cases), centralization is not an issue.
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by analog31 on Sunday June 20, 2021 @08:29PM (#27575082)
For items made from natural materials, it should be straightforward. For instance my musical instrument has unique wood grain patterns that could be memorialized in high resolution photos.
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Re:Stonks Are What You Can Get Away With: NFTs and Financial... by acomjean on Monday June 21, 2021 @09:49AM (#27579133)
Banksy the artist has a validation site.

and an art registry to try a curb east to make fakes (stencils):

https://pestcontroloffice.com/real.asp

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