FWIW nobody who is actually knowledgeable about crypto ever thought anything positive about NFTs. It’s all just wallstreetbets types who read one article and think they’re economists now. The tech is interesting and has applications but monkey jpegs are what idiots spent millions on for some reason.
I used to say that, but I’ve given up on that idea. I’ve never seen a use of blockchain yet that didn’t boil down to being virtual money. NFTs could have had potential as a method of trade if they were tied to real ownership of things instead of just receipts saying you bought a cartoon monkey jpeg.
But every time I think something would be a problem blockchain solves, I can always think of an existing, typically better, solution to that same problem. I think that space is too infested with grifters to attract anyone with a truly novel idea.
You’re getting downvoted by cryptobros, but you are absolutely correct, there is no good use for block chain and never will be
It’s a fully public database among trustless parties. To the first point, there’s no reason any database can’t be made public if so desired. To the second point, for the block chain to have any meaning or value beyond itself, some authority eventually needs to interpret its contents. That authority might as well hold the database or, in trustless cases, a third party trustee. Nothing about it makes sense at a very base level, you don’t even need to explain the tech because it just doesn’t hold up logically.
Nobody who is knowledgeable about crypto ever thought dogecoin was anything but a meme coin or pump and dump scheme. They would have known it offered zero benefits technologically over existing cryptos. Some may have bought it to cash in on the crazy market surrounding it, but they never thought doge was the future or anything. The people who thought that were the “i read one article and I’m a crypto expert now” crowd referenced in my original comment.
FWIW nobody who is actually knowledgeable about crypto ever thought anything positive about NFTs. It’s all just wallstreetbets types who read one article and think they’re economists now. The tech is interesting and has applications but monkey jpegs are what idiots spent millions on for some reason.
I used to say that, but I’ve given up on that idea. I’ve never seen a use of blockchain yet that didn’t boil down to being virtual money. NFTs could have had potential as a method of trade if they were tied to real ownership of things instead of just receipts saying you bought a cartoon monkey jpeg.
But every time I think something would be a problem blockchain solves, I can always think of an existing, typically better, solution to that same problem. I think that space is too infested with grifters to attract anyone with a truly novel idea.
You’re getting downvoted by cryptobros, but you are absolutely correct, there is no good use for block chain and never will be
It’s a fully public database among trustless parties. To the first point, there’s no reason any database can’t be made public if so desired. To the second point, for the block chain to have any meaning or value beyond itself, some authority eventually needs to interpret its contents. That authority might as well hold the database or, in trustless cases, a third party trustee. Nothing about it makes sense at a very base level, you don’t even need to explain the tech because it just doesn’t hold up logically.
A classic bitcoin article agrees with you: It’s Not About the Technology, It’s About the Money
People who are knowledgeable about crypto spent real money on a thing called dogecoin.
Nobody who is knowledgeable about crypto ever thought dogecoin was anything but a meme coin or pump and dump scheme. They would have known it offered zero benefits technologically over existing cryptos. Some may have bought it to cash in on the crazy market surrounding it, but they never thought doge was the future or anything. The people who thought that were the “i read one article and I’m a crypto expert now” crowd referenced in my original comment.
I viewed it as more of a donation to see the stupid meme on Nascar or other dumb sponsorships.