News for hackers. Stuff that matters.
Re:Web3 is going just great by Yizahi on Tuesday December 14, 2021 @04:10PM (#29557813)
No, it can't be used for "proof of ownership" at all. Crypto only barely works because it lives inside blockchain completely. Anything external to the blockchain (which is practically everything) can't be verified using blockchain. Only using some centralized and opaque/corrupt additions to the blockchain some rights can be maybe transferred (but not enforced even then), but at that point blockchain is useless can be safely removed if data is stored centrally.
Re:Web3 is going just great by orange8 on Tuesday December 14, 2021 @04:47PM (#29558370)
> Only using some centralized and opaque/corrupt additions to the blockchain some rights can be maybe transferred

Hmmm... centralized and opaque/corrupt. So like a traditional bank?

Re:Web3 is going just great by Yizahi on Tuesday December 14, 2021 @05:05PM (#29558655)
Assuming if the banks are bad, please tell me why are we replicating them them again but in worse way? (opaque, unregulated, anonymous and usually sitting in offshore fearing IRS sanctions)
Re:Web3 is going just great by orange8 on Wednesday December 15, 2021 @04:08AM (#29563612)
You seem to have a very flawed, fundamental misunderstanding of either the term opaque, or what a public ledger is. There is nothing opaque about bitcoin transactions. They are all (every single one of them) open to the public. They are more traceable than cash transactions and more public than bank transactions.

> please tell me why are we replicating them them again but in worse way?

But this is just your disputed opinion. It is like asking "why is Kanye always singing and selling bad new songs, and we already have the beatles". Because they can and want to.

Re:Web3 is going just great by Yizahi on Wednesday December 15, 2021 @04:28AM (#29563726)
Bitcoins are transparent, that I don't contest. Now please tell me how do Bitcoins specifically facilitate "proof of ownership" of stuff? Because that's where this thread started, that crypto will somehow do this, according to crypto fans.
Re:Web3 is going just great by orange8 on Wednesday December 15, 2021 @05:30AM (#29564081)
Short answer: passwords The very same way your online bank account facilitates "proof of ownership" of that said bank account.
Re:Web3 is going just great by Yizahi on Wednesday December 15, 2021 @06:41AM (#29564613)
Lolno. You are completely mistaken about what ownership means. I don't own my bank account (it's complicated), I don't own my HN account. Password is only used to authenticate and authorize me on the digital property owned by someone else - PG or bank corporation.
Re:Web3 is going just great by orange8 on Wednesday December 15, 2021 @06:59AM (#29564771)
You do own your hacker news account. If someone hacks into your computer, and makes stupid comments while pretending to be you, you have every right to seek compensation. Because you actually OWN your hacker news account, in the very same way you OWN the house you are renting. Your landlord cannot just rock up to your house tomorrow, walk in and sit in your yard for an hour because they "own" the house. So yes, you are right! Ownership is and can be complicated, and NFT ownership is no different. ;)
Re:Web3 is going just great by ipaddr on Tuesday December 14, 2021 @04:30PM (#29558117)
It can be used for proof of ownership not to be confused with proof of identity because anyone can check the public blockchain to determine that funds sent from account a belongs to whoever setup account a.

It allows proof ownership without proof of identity.

Re:Web3 is going just great by Yizahi on Tuesday December 14, 2021 @05:03PM (#29558624)
No it doesn't allow proof of ownership. Ownership is a set of intellectual rights encoded via laws. NFT can't do anything about IPs or laws, and won't be able in future.
Re:Web3 is going just great by ipaddr on Wednesday December 15, 2021 @02:17AM (#29562970)
Having a private key provides ownership over an account. That ownership allows you to transfer money. It allows you to accept money.

This is outside of IP or laws. You can move money without laws.

NFT are a differet topic. NFT are a way of having a digital token attached to something that can be used to determine ownership to an account. Do they need to be decentralized? No but it opens up ownership to all not just the approved.