Re:Non-Fungible Olive Gardens
by marcofatica on Tuesday December 21, 2021 @07:41PM
(#29644047)
The images themselves are typically hosted on IPFS or another Blockchain file store so they too can't be removed
IPFS is not magic: it runs on servers and people have to pay for storage and bandwidth. If you're not regularly paying those people, your content will disappear unless it's among the most popular and not legally encumbered.
If something is taken down for legal reasons, you're left with intersection of hosts who are in legal jurisdictions where they can blow off those complaints, don't have their IPs blocked, and are willing to host it for whatever you want to pay.
That's not impossible but it's far from the solved problem NFT salespeople present it as, increasing in difficulty with the value of the content.
The JPEGs could go on filesharing networks. The NFT holders have an incentive to reseed them when necessary.
Sure, but you have to pay a fairly large fee for every transaction and since it's public the process of sending takedown notices can easily be automated. Are the bragging rights for a receipt really worth playing that game until you run out of money even if you do live in a jurisdiction where you can do that indefinitely without consequence?
What I mean is, the NFT is implemented on a blockchain and holds the hash of the jpeg, but the jpeg can be hosted on a regular non-blockchain filesharing network for free. If it disappears then the NFT holder can just post it again, also for free. You only pay blockchain fees when you transfer NFT ownership.
The jpeg could be on IPFS, bittorrent, freenet, whatever. Look it up by hash and verify the hash after getting it. If takedowns are a problem, use the more censorship-resistant options.
If this wasn't a joke, it would make an interesting demonstration of how the value is purely the current social consensus: a receipt is of dubious value in any case but it would be especially unlikely to attract buyers when the target URL has been DMCAed.