NFT's aren't the answer to the problems of digital art

Re:NFT's aren't the answer to the problems of digital art by mlinsey on Tuesday November 09, 2021 @08:36AM (#29161511)

Ahh, in that case, the problem this solves is the database owner has admin power, and could take away your graphics card.

This is similar to how I was always worried that Bank of America would arbitrarily change the balance in my account for some reason, but bitcoin solves this problem. Now I just have to worry about losing my password or getting hacked and losing all of my money, and that's just much less realistic than a major bank abusing their centralized admin powers to change my balance.

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Re:NFT's aren't the answer to the problems of digital art by Calavar on Tuesday November 09, 2021 @08:49AM (#29161654)

There is so much Poe's law content in this thread - not sure if you're being facetious or not. But I'll bite.

If Bank of America deducts money from your account, you can call customer support and threaten to file a complaint with a regulatory agency, threaten to close your account, or just take them to court. No guarantees that you'll get your money back, but at least there's a chance.

If you lose your wallet password. It's game over. 0% chance of ever recovering any of that money.

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Re:NFT's aren't the answer to the problems of digital art by jimmydorry on Tuesday November 09, 2021 @09:06AM (#29161873)

Do you see the difference though? One is something you can control, and the other is something you rely on other parties mot to do or to later fix.

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Re:NFT's aren't the answer to the problems of digital art by notamy on Tuesday November 09, 2021 @11:39AM (#29163935)

I would imagine that a majority of the world is fine with giving up a little control to have a chance of getting their money back.

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