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re: Turns out that NFTs weren't the future of finance and art
Posted on 9/22/23 at 5:17 pm to UltimaParadox
Posted on 9/22/23 at 5:17 pm to UltimaParadox
quote:
Why would I want that, and why would anyone want it?
It's a very libertarian idea, which is a foundational ideology of a lot of the crypto space.
But, in theory, you could sell land or a car to someone without all the red tape you currently have. To you and I in the USA, it's not really a big deal to us because we have trusted institutions and processes that work.
In a 3rd world country where theres either no such system, or theres massive corruption, this isn't the case. You'd want a trustless system where you don't have to trust anyone.
2
Posted on 9/22/23 at 5:22 pm to Big_Sur
how much is this worth?
Posted on 9/22/23 at 5:23 pm to OWLFAN86
quote:
how much is this worth?
$350
Posted on 9/22/23 at 5:25 pm to Big_Sur
I wuz robbed 
Posted on 9/22/23 at 5:30 pm to Big_Sur
NFTs like whats in the OP were always stupid, and only advocated by those trying to scam money.
NFT’s value would be for things like recording deeds. There are many countries where there is no clerk of court system for maintaining land records. A distributed blockchain keeping record of who owns what land would be a much cheaper solution for those countries than a recreating a system like we have.
If you knew you knew. The value (use case) of NFTs was never finance or art.
NFT’s value would be for things like recording deeds. There are many countries where there is no clerk of court system for maintaining land records. A distributed blockchain keeping record of who owns what land would be a much cheaper solution for those countries than a recreating a system like we have.
If you knew you knew. The value (use case) of NFTs was never finance or art.
This post was edited on 9/22/23 at 5:31 pm
Posted on 9/22/23 at 5:31 pm to Hulkklogan
quote:
In a 3rd world country where theres either no such system, or theres massive corruption, this isn't the case. You'd want a trustless system where you don't have to trust anyone.
Is this where you explain to me that if I invested in "HoganPooRocketCoin" I will make a risk free 900% on my money?
Because the use case is that poor souls in Africa dont understand anything, and they will be using this as their currency any day now.
Even though we know they have been using mobile payment systems like M-Pesa for a decade and already superior to awful crypto options.
Third world countries like Africa already have more "trusted" systems then what the blockchain solutions everyone has tried to sell them for the last 15 years. There is a reason zero adoption has occurred and trust me... We are not early anymore.
Posted on 9/22/23 at 5:36 pm to UltimaParadox
quote:
There is a reason zero adoption has occurred
Incorrect.
Does the adoption that has already occurred support the very large capital valuations of the related coins? I would say no.
But to say there has been no adoption is just not accurate.
Posted on 9/22/23 at 5:39 pm to LSUnation78
quote:
But to say there has been no adoption is just not accurate.
Point to me where people in third world countries are using blockchains to store their housing deeds?
Posted on 9/22/23 at 5:43 pm to UltimaParadox
quote:
Imagine losing something of real value.
You can take a picture. You can even take the image of the deed recorded on the distributed ledger.
What you cannot do, is trick the ledger into thinking it belongs to you. No one would be able to prove ownership of your deeded property on such a system.
Again, anyone who understands how this stuff never legitimately thoughts jpegs were a legit use case. But there have been musicians sell rights to a song or produced beat via nft. Try using the beat eminem sold by nft to make money and let me know how the lawsuits go.
Posted on 9/22/23 at 5:48 pm to LSUnation78
quote:
No one would be able to prove ownership of your deeded property on such a system.
Except if they stole your private key, which is infinitely easier than stealing a house through deed fraud. In a trustless system you have no recourse, and no longer "own" the house.
Either way you need a central authority to even enforce the ownership. Daddy govt is always in the equation.
Posted on 9/22/23 at 5:53 pm to UltimaParadox
You went from saying zero adoption to saying no deed system adoption.
Cardano has been working to grow an ecosystem in Africa. You can start looking there.
Cardano has been working to grow an ecosystem in Africa. You can start looking there.
Posted on 9/22/23 at 5:58 pm to UltimaParadox
quote:
Except if they stole your private key
A robust ecosystem that ties in biometric ID to your private key is the end goal. Limits this risk greatly.
And no one ever said it would run without enforcement. The point is the trustless aspect of a distributed ledger for the enforcement to work off of.
This post was edited on 9/22/23 at 5:59 pm
Posted on 9/22/23 at 5:59 pm to LSUnation78
quote:
You went from saying zero adoption to saying no deed system adoption.
Well we were discussing storing deeds on the blockchain... so I am asking for the proof.
I know broke countries like El Salvador made Bitcoin legal tender for now, which has gone extremely poorly.
I am sure their Volcano Bonds will be highly sought after.
Posted on 9/22/23 at 6:00 pm to LSUnation78
quote:
A robust ecosystem that ties in biometric ID to your private key is the end goal. Limits this risk greatly.
Guessing you are big believe in World coin then.
Posted on 9/22/23 at 6:06 pm to Big_Sur
(no message)
This post was edited on 10/21/23 at 11:17 am
Posted on 9/22/23 at 6:07 pm to Big_Sur
Friend,
I did not purchase an NFT, but the whole craze brings to mind a story from those days. One of my favorite English artists is Marianne Stokes. Few people will recognize her name nor any of her works. But not a single artist has before captured the beauty of a woman’s face and eyes more than Stokes.
One of her paintings came up for auction in Germany in 2020. I was alerted to this by a friend who works auctions in New Orleans, for she knows of my love of Stoke’s works.
I emailed the auction house in Germany asking how much shipping to America would be. In response, this angry woman responded something like “No amount of money in the world will ship this painting to America. The auction was yesterday. The painting stays where it belongs.”
I was simply baffled by this woman’s incredible and memorable rudeness. She met my benign question with such hostility. Worse, I was sad because I missed out on an original Stokes that sold for just 1300 Euros, which was about $1700. I was willing to get to $12,000 for that small painting. It was so beautiful. Stokes’ works still do not receive the attention they deserve, but I suspect in a generation or two we will see her name mentioned with the greats. Just in case you were considering investing in an artist.
Yours,
TulaneLSU
I did not purchase an NFT, but the whole craze brings to mind a story from those days. One of my favorite English artists is Marianne Stokes. Few people will recognize her name nor any of her works. But not a single artist has before captured the beauty of a woman’s face and eyes more than Stokes.
One of her paintings came up for auction in Germany in 2020. I was alerted to this by a friend who works auctions in New Orleans, for she knows of my love of Stoke’s works.
I emailed the auction house in Germany asking how much shipping to America would be. In response, this angry woman responded something like “No amount of money in the world will ship this painting to America. The auction was yesterday. The painting stays where it belongs.”
I was simply baffled by this woman’s incredible and memorable rudeness. She met my benign question with such hostility. Worse, I was sad because I missed out on an original Stokes that sold for just 1300 Euros, which was about $1700. I was willing to get to $12,000 for that small painting. It was so beautiful. Stokes’ works still do not receive the attention they deserve, but I suspect in a generation or two we will see her name mentioned with the greats. Just in case you were considering investing in an artist.
Yours,
TulaneLSU
Posted on 9/22/23 at 6:08 pm to UltimaParadox
I havent pitched any coins, and i already said what adoption there is would not support the inflated cap valuations of any involved coin.
What i can tell you for certain, is that what everyone should want is a distributed ledger system we all can use instead of a centralized one. Or atleast have the choice to use.
No one will like where we’re going with CBDC’s if its the only ecosystem we have access to. Which unfortunately is the direction we’re heading.
What i can tell you for certain, is that what everyone should want is a distributed ledger system we all can use instead of a centralized one. Or atleast have the choice to use.
No one will like where we’re going with CBDC’s if its the only ecosystem we have access to. Which unfortunately is the direction we’re heading.
Posted on 9/22/23 at 6:14 pm to Hulkklogan
(no message)
This post was edited on 10/21/23 at 11:17 am
Posted on 9/22/23 at 6:15 pm to lsuconnman
Its not.
Posted on 9/22/23 at 8:25 pm to LSUnation78
quote:
trustless
Am I the only person who wants to trust the people I transact with?
Edited to add: I try not to transact with criminals - I try to transact with people who have and want a good reputation. Trust is a good part of the transaction.
This post was edited on 9/22/23 at 8:27 pm
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