Re:My First Impressions of Web3
by magicalhippo on Sunday January 09, 2022 @08:43AM
(#29863111)
> What's the benefit of having the URL permanently stored on the blockchain in that case?
Not much as far as I can tell. I mean it would kinda be like a signature on a painting, in that it's a visual indication of who made it. But the proof would be in the digital, cryptographic signature.
> I'm really confused at how NFTs solve anything
I'm in the same boat. I'm just trying to figure out how they might be useful if they implemented them differently.
I don't even know if I like this idea, but it'd be a different ball game if NFTs held legal status. That goes pretty counter to many of the usual benefits claimed of crypto projects,but if an NFT was treated as legally binding ownership that could make them really useful
Re:My First Impressions of Web3
by magicalhippo on Sunday January 09, 2022 @12:06PM
(#29865136)
Right but without any legal aspects, what use could they be?
Anything in them can be copied trivially, so on their own they are per definition not unique hence fairly worthless.
If they're only useful when two parties agree they are worth something during an exchange, how are they different from plain cryptocoins?
I mean this is a bit similar to the GPL, it would be useless if courts declared it can't be enforced.
And then what am I spelling later? A transaction immortalized in a block chain with nothing more than a broken URL and, at best, a hash of the original file?
Edit: I realize I sound a bit dickish in how I'm replying. Don't take it that way, I'm really confused at how NFTs solve anything but really appreciate the conversations here and am glad to hear differing opinions!