Better than bitcoin: NFT

[Athermos4u]

There's no copyright or copy protection mechanism associated with NFT. The analogy often used is that you're buying an autographed copy of some digital thing. Not a lot of added value.

That's the way DRM work too. I, the artist, own the IP. You are getting use of the IP as long as I allow it. Although the big difference seems to be that I can revoke your digital rights with DRM, but not NFT? It seems with NFT you are buying a " signed and numbered" copy, with the artist able to create an infinite number of copies. Now that I say it, NFT doesn't sound like much.

 

[Athermos4u]

That's the way DRM work too. I, the artist, own the IP. You are getting use of the IP as long as I allow it. Although the big difference seems to be that I can revoke your digital rights with DRM, but not NFT? It seems with NFT you are buying a " signed and numbered" copy, with the artist able to create an infinite number of copies. Now that I say it, NFT doesn't sound like much.

I found this article helpful, and now am thoroughly WTF on NFT. It is a solution in search of a problem that uses blockchain.

https://www.theverge.com/22310188/nft-explainer-what-is-blockchain-crypto-art-faq

 

[corn18]

I am absolutely certain that something useful will come of blockchain, but it will be a decade before we figure out what it is. In the meantime, this will follow the evolution of all bubbles: innovation, imitation, idiocy. The bicycle bubble of 1896. The dot.com bubble of 2000. While there will be many investors that get their butts handed to them when the bubble pops, society as a whole will benefit from their idiocy.

 

[Athermos4u]

I am absolutely certain that something useful will come of blockchain, but it will be a decade before we figure out what it is. In the meantime, this will follow the evolution of all bubbles: innovation, imitation, idiocy. The bicycle bubble of 1896. The dot.com bubble of 2000. While there will be many investors that get their butts handed to them when the bubble pops, society as a whole will benefit from their idiocy.

Blockchain is being used by business now to increase the efficiency of asset tracking, provide provinance of master data that has long lifecycles, and to create logs of long running, cross-enterprise transactions. For instance, the DOD uses it to inventory weapons and ammunition, healthcare systems for patient medical record keeping/exchange, and Maersk, among others, uses it to track shipping status across very long, and complicated supply chains. Like the internet, blockchain will become an integral part of the solution, but it won't be THE solution. The money will be made on how well it's integrated into business solutions.

 

[corn18]

Blockchain is being used by business now to increase the efficiency of asset tracking, provide provinance of master data that has long lifecycles, and to create logs of long running, cross-enterprise transactions. For instance, the DOD uses it to inventory weapons and ammunition, healthcare systems for patient medical record keeping/exchange, and Maersk, among others, uses it to track shipping status across very long, and complicated supply chains. Like the internet, blockchain will become an integral part of the solution, but it won't be THE solution. The money will be made on how well it's integrated into business solutions.

Yup, there were lots of useful things being done with the internet in 2000. And the bicycle was forever improved by making the 2 wheels equal size. But that does not diminish the impact of the bubbles that surrounded both of these innovations. Can we see any parallels to cryptocurrency and NFT's? I certainly do. That's why I sit on the sidelines and watch the bubble vs. participating.

 

[Athermos4u]

Yup, there were lots of useful things being done with the internet in 2000. And the bicycle was forever improved by making the 2 wheels equal size. But that does not diminish the impact of the bubbles that surrounded both of these innovations. Can we see any parallels to cryptocurrency and NFT's? I certainly do. That's why I sit on the sidelines and watch the bubble vs. participating.

Yep. I agree. There is too much confusion about the differences in blockchain, digital assets, digital currency, cryptocurrency, and BTC. One being useful does not make the others useful, in either current, or future form.

I checked today, and there are over 30 different BTC competitors. Some have already been abondoned, others shut down for being outright pyramid schemes, the rest are still out there. I will be shocked if the number does not continue to grow. My opinion based on observation, us that this BTC speculation has reached frenzy status. Unfortunately it is overshadowing the real value of some of the emerging technologies like blockchain, CRISPR, cognative, and quantum computing.

 

[twaddle]

During the dot-com bubble, there were plenty of other assets that were bargains, like TIPS and value stocks.

NFT and bitcoin seem to be part of a speculate-on-everything bubble. I've never seen anything like it.

 

[Time2]

Blockchain is being used by business now to increase the efficiency of asset tracking, provide provinance of master data that has long lifecycles, and to create logs of long running, cross-enterprise transactions. For instance, the DOD uses it to inventory weapons and ammunition, healthcare systems for patient medical record keeping/exchange, and Maersk, among others, uses it to track shipping status across very long, and complicated supply chains. Like the internet, blockchain will become an integral part of the solution, but it won't be THE solution. The money will be made on how well it's integrated into business solutions.

For those that want to know just exactly how Blockchain works here is the white paper that first proposed it. It was anonymously written and we still don't know by who. The name used is Satoshi Nakamoto, my son says that's a combination of Samsung, Toshiba, Nakamichi and Motorola, maybe?
https://bitcoin.org/bitcoin.pdf

Oh, if after reading the article, you understand blockchain, just keep it to yourself.