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A comment on Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble. Parent comment

Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by stickyricky on Monday October 18, 2021 @01:07AM (#28902394)
How? You can't see if I own any NFTs right now. You can't see it in gmail. You can't see it on facebook. You don't get ads saying "rich NFT holders in your area!". No one knows or cares if you own an NFT.
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by yao420 on Monday October 18, 2021 @01:22AM (#28902467)
You can see what people own by their wallet address.

The watch example is apt, similar to a Richard Mille being a flex that 99% of people won’t ever notice or understand it conveys status.

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by graeme on Monday October 18, 2021 @03:00AM (#28902938)
People are going to flash their wallet addresses at bars or at business meetings?

We already have strong social taboos about flashing bank accounts. The whole point of status good is they convey wealth rather than tactlessly showing a total.

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by atatatat on Monday October 18, 2021 @09:08AM (#28905039)
You've never seen where these brags occur?

See if this feels familiar:

Paris Hilton buys NFT of Hello Kitty! creator's DNA, says "crypto is the future"

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by stickyricky on Monday October 18, 2021 @10:03AM (#28905528)
Paris Hilton is possibly the world's richest and best known idiot. The flex here is having a news article written about you. Paris Hilton bought an NFT to stay relevant. Not to become relevant.
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by graeme on Monday October 18, 2021 @12:46PM (#28907598)
The fancy watch market is much much broader than celebrities
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by giantrobot on Monday October 18, 2021 @01:45AM (#28902594)
"Trust me this watch makes me very cool!"
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by altrum on Monday October 18, 2021 @01:12AM (#28902418)
That’s only because the infrastructure for it isn’t there yet. Doesn’t mean it won’t eventually happen
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by wickoff on Monday October 18, 2021 @01:21AM (#28902462)
Twitter is adding ownership verification for NFT profile pictures.
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by Jensson on Monday October 18, 2021 @08:41AM (#28904782)
> Twitter is adding ownership verification for NFT profile pictures.

Twitter seems to have too many engineers.

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by tablespoon on Monday October 18, 2021 @01:48AM (#28902612)
> Twitter is adding ownership verification for NFT profile pictures.

Then what if someone mints new NFTs based on (say) the same images used for the cryptopunks cartoons?

You could get your extremely online bragging rights for an affordable price.

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by altrum on Monday October 18, 2021 @02:32AM (#28902808)
Except you can't, practically speaking--as the price is baked into the "brand".
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by graeme on Monday October 18, 2021 @02:58AM (#28902928)
But you’d get twitter verification. Or will twitter only recognize one chain for NFTs?

How do you handle someone minting multiple nfts of the same image on different chains?

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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by altrum on Monday October 18, 2021 @04:07AM (#28903243)
Twitter, if they build their verification correctly, should determine NFT's sovereignty via the smart contracts, not the chains. Thus, CryptoPunks will only exist on one chain & one smart contract.
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by graeme on Monday October 18, 2021 @12:47PM (#28907612)
But what stops someone from minting the same jpegs elsewhere? Possible there is some mechanism I’m unaware of
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Re:Why the ‘Big Short’ Guys Think Bitcoin Is a Bubble by altrum on Tuesday October 19, 2021 @01:52AM (#28915248)
My thesis on this revolves around the idea of "brands." I wrote about it more in depth here: https://www.robertchung.me/people-dont-understand-nfts
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