Cryptobros incoming to tell us all the real-world problems blockchain’s going to solve any day now in 3… 2…
I got 99 problems, but a blockchain solves none
Shes right an nft is a hallway to the picture. You don’t even own to picture
I thought NFTs is the title to the car. Just a title without any law backing it up.
No, because an NFT just tells you were the picture is on the block chain. In theory If you had access to the block chain and another picture you can just change the picture stored at that point
In theory If you had access to the block chain and another picture you can just change the picture stored at that point
In theory if you had access to your bank’s safe you could just take out money.
Well, you dont.
In the US money is insured. You will get your money back
The point was that if you had access to it, you could do some bad stuff but you wont ever have access to it.
You cant have access to the blockchain so you couldnt change anything. Saying “if i had access to the blockchain,…” is like saying “if I had access to your stuff, I could steal it”. Yeah, thats right but that doesnt mean anything…
NFTs are just USED for pictures. They actually had potential to solve real world problems, but jetzt isch d Katz de Bååm nuff as we say in hohenlohe.
NFTs
Note: this is how you spell it. Apostrophes are for possession & contraction …not making words plural.
That’s not true, clearly an apostrophe means: “watch out, here comes an s!”
Correction:
That’s not true, clearly an apo’strophe mean’s: “watch out, here come’s an 's!”
You forgot /'s
You don’t even buy the photo, you buy the hyperlink to the photo. In a sense, your buying the treasure map to gold, but you can’t have the gold.
Its like buying gold on the stock market pretty much. You cant have it in your hands but you still own it and it has value
I was pretty shocked when I found out that NFT pictures aren’t even stored in the block chain. NFTs are just records on the block chain with links to images stored on ordinary servers.
This is because you (in theory) need the whole blockchain to validate an NFT, so you want to keep it as small as possible.
But since you store the Cryptographic Hash of the image too, you can validate that the image on the server is actually the same one referenced by the blockchain. You could even move it to another server, but it will break the link obviously
Except you don’t own that server and have no control over it, and if the server owner takes the image offline you’re screwed
It does not really matter. You’ve still got the JPEG (or whatever else). Just calculate the hash and you can proof that it’s the one referenced.
Uhh but everyone has the jpg cause it wasn’t special and the link leads to a dead server so no one can prove what was at the end of that link and the unique hash doesn’t work cause the image isn’t there anymore.
It’s bad. It’s really really bad. They might as well have just made it a text files that says:
I totally am the owner of Nyan cat, cause this says so. Signed the rainbow cat authority.
You create a picture (or some other file), you put a hash of it (and the link) to the blockchain and you’ve got the ‘prove’ that you created it.
Even when somebody tried to claim it using another hash, you can still provide the original file (which can be saved anywhere, as long as the hash is the same) to prove yours is the ‘original’, as your version of the file was the first to appear on the chain.
They’re not even pictures. They’re hyperlinks to pictures that may or may not even be there.
Famously, it’s uncommon that your “NFT” ends up hyperlinking to a picture of a rug because the people running it know it’s a scam.
They are actually not hyperlinks, more like certificares of ownership over a picture (or a “token”, as the name suggests)
Go away, feddit de you never have anything useful to say
Oh yes, generalizing. At least you didnt write any racist jokes (yet)…
