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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 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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