Re:Lets talk about how NFTs are a giant scam
by Jensson on Wednesday October 13, 2021 @08:12AM
(#28851161)
If you think that NFT issuers are more trustworthy than banks or big companies then I have bad news for you. The NFT you get is as trustworthy as the paper you bought saying you own the golden gate bridge. Nobody can take that paper from you, but they sure can take the bridge.
[ Parent
| on HN ]
Re:Lets talk about how NFTs are a giant scam
by osigurdson on Wednesday October 13, 2021 @10:55AM
(#28852938)
The question was (paraphrased) "what value does blockchain add over SQL database table with a unique index?" - not whether NFT issuers are more trustworthy than trusted organizations or if NFTs are a valid asset class.
Re:Lets talk about how NFTs are a giant scam
by Jensson on Wednesday October 13, 2021 @12:14PM
(#28854089)
But it isn't the same, with NFT's the trust comes from the NFT issuer and not the blockchain. With bitcoin you just have to trust the chain, but with NFT's you have to both trust the chain and the issuer.