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comment by HarlemShake
HarlemShake  ·  150 days ago  ·  link  ·    ·  parent  ·  post: Line Goes Up – The Problem With NFTs

I still do not understand NFTs





kleinbl00  ·  149 days ago  ·  link  ·  

Shit ain't hard, it's just that hating on NFTs and their community is the new hating on furries. Hating on furries was the new gaybashing. There's a broad swath of society that looks at something new, decides it's new, decides that anyone who likes it needs to be mocked out of existence and then ten years later when the whole world is watching RuPaul's Drag Race they grumble to themselves about the good old days when they could tell poofter jokes. The ugliest parts of society rally around a mutual, willful lack of understanding of whatever is new and speaking as someone older than you allow me to say that the very same people who hate on NFTs eat the same flavor ice cream as those who hated on the dot com bubble.

Was paying $50m for carinsurance.com a good idea at some point? Sure. Is it a good idea now? I dunno, man, purple.com was worth it.

So. Do you understand domain names? Then you understand NFTs. Shazam.

am_Unition  ·  150 days ago  ·  link  ·  

Honestly, knowing that you don't understand NFTs is a level of comprehension few people ever achieve.

HarlemShake  ·  150 days ago  ·  link  ·  

and it's been explained to me a couple of times, but I just can't seem to wrap my head around it..simply doesn't make sense. I'm close to 40 maybe that's why.

am_Unition  ·  150 days ago  ·  link  ·  

I think I get the tech, but I don't understand the feasibility without more/better digital scarcity, and/or the enforcement of digital ownership by the state. Presumably, everyone is snatching up NFTs because they think that the prices will go up over time, and ownership will be enforced, hence allowing for scarcity. I'm not really sure I want to live in a world where digital ownership is strictly enforced by the state. edit: above the level of enforcement it's already at, I mean.

kleinbl00  ·  149 days ago  ·  link  ·  
am_Unition  ·  149 days ago  ·  link  ·  

I can't! And exactly, we've been here before.

Maybe my perspective is related to me dumping my childhood allowance into the Star Wars Customizable Card Game, which went from being worth hundreds of dollars to absolutely nothing. Edit: checking ebay, they could probably pay for themselves now. Hmm.

kleinbl00  ·  149 days ago  ·  link  ·  

'k. Explain why people who buy and sell baseball cards are considered normal humans but people who buy and sell NFTs are considered the scum of the earth.

uhsguy  ·  149 days ago  ·  link  ·  

Because there is a central authority printing them it gives them the aura of legitimacy and affiliation with a couple major corporations. But nft and cards are the same to me, im really surprised more cards haven’t been turned into nft actually s as they are easier to trade that way. (See StockX nft shoes)

kleinbl00  ·  149 days ago  ·  link  ·  

NBA, NFL and NHL are on Top Shot, which is on Flow. Topps went with Avalanche for theirs. NBA Top Shot does $700m a year, and they aren't even selling unique NFTs - they're selling "limited quantity" NFTs. Their NFTs also guarantee you absolutely no rights or royalties, and cannot transact outside of their ecosystems.

HarlemShake  ·  150 days ago  ·  link  ·  

and it's been explained to me a couple of times, but I just can't seem to wrap my head around it..simply doesn't make sense. I'm close to 40 maybe that's why.