GAMESTONKS II - Full Faith and Credit in Memes

[Spicyryan]

you actually haven't really said anything, I've been waiting for anyone within this conversation to explain exactly how NFT's themselves fill a void that was left empty by literally anything else, and please don't confuse NFT's with Blockchain itself, they're not the same.

Of course they aren't the same. They live on the Blockchain, and further the use cases of it.

I've touched on plenty of scenarios unless you expect me to start explaining in depth how NFTs would be used for fractal real estate, legal documents, manifests, etc. Ever lose a document or some shit? Plenty of people do. It be easier to verify or exchange the title of something digitally with an NFT than with a physical document. Think of something you an apply verifiable digital integrity to and there.

[Drai]

Of course they aren't the same. They live on the Blockchain, and further the use cases of it.

I've touched on plenty of scenarios unless you expect me to start explaining in depth how NFTs would be used for fractal real estate, legal documents, manifests, etc. Ever lose a document or some shit? Plenty of people do. It be easier to verify or exchange the title of something digitally with an NFT than with a physical document. Think of something you an apply verifiable digital integrity to and there.

Ok, well call me when people start using it for any of those instead of the obvious cash grabs/laundering it's currently being used for lol

[Spicyryan]

Ok, well call me when people start using it for any of those instead of the obvious cash grabs/laundering it's currently being used for lol

https://www.lofty.ai/

https://www.google.com/amp/s/www.cnb...echnology.html

https://www.bloomberg.com/news/artic...-on-blockchain

[Meresgi]

https://www.lofty.ai/

https://www.google.com/amp/s/www.cnb...echnology.html

https://www.bloomberg.com/news/artic...-on-blockchain

NFTs (non-fungible tokens) are unique digital assets that can’t be replaced with something else and are verified and stored using blockchain technology, which makes it difficult or impossible to change, hack, or cheat the system.

SHA1 hashing would love to have a word

[Krandor]

So the NFT for the Alfa Romeo car only counts if you get it serviced at an authorized dealership, which would be recording that information and putting it into a database anyways.

Yup amazing new application of the technology

[Spicyryan]

So the NFT for the Alfa Romeo car only counts if you get it serviced at an authorized dealership, which would be recording that information and putting it into a database anyways.

Yup amazing new application of the technology

It's in it's infancy. Doesn't have to be mind bending.

[Krandor]

It's not doing anything of value in that scenario. The NFT itself is probably literally just a URL to a PDF of the maintenance records. It is doing nothing new other than adding extra waste of resources through the time spent minting the NFT to link to an existing website.

[Spicyryan]

It's not doing anything of value in that scenario. The NFT itself is probably literally just a URL to a PDF of the maintenance records. It is doing nothing new other than adding extra waste of resources through the time spent minting the NFT to link to an existing website.

Having a verified record of maintenance and incidents for a car would sorta be a big deal if it was standard. Would even put a fox mascot out of business.

[Krandor]

The NFTs would likely just link to a Carfax url, since that's literally all just NFTs are, URL links sitting on a Blockchain.

[archibaldcrane]

Having a verified record of maintenance and incidents for a car would sorta be a big deal if it was standard.

this doesn't require the blockchain whatsoever

[NynJa]

Having a verified record of maintenance and incidents for a car would sorta be a big deal if it was standard. Would even put a fox mascot out of business.

what the fuck makes these records of maintenance any more "verified" versus the fox mascot??

[Meresgi]

Having a verified record of maintenance and incidents for a car would sorta be a big deal if it was standard. Would even put a fox mascot out of business.

The Fox already does this, and does it across the spectrum if i'm not mistaken? Where this would just be "Well you gotta bring it in to THIS specific dealership, otherwise we won't track it "

[Spicyryan]

Yes the Fox does this. They can be eliminated as an unproductive element of society which only seeks to profit from data collection. Having a public record of it regardless of the specific dealership would be beneficial.

[Krandor]

And who would maintain that information and put it out there for the public record?

Or does calling something an NFT just magically make it better?

Taking what CarFax does and calling it a NFT doesn't somehow make the system work better, it's the exact same system with extra steps and energy waste

[Spicyryan]

And who would maintain that information and put it out there for the public record?

Or does calling something an NFT just magically make it better?

Car maintenance or accidents would be logged to the Blockchain as part of the process. These things are obviously already typically logged, but kept proprietary by the entity until sold to someone else.

The NFT is just the digital representation of proof of integrity. So, the issue is that people don't like .jpg speculation. An NFT can represent anything else. Car title? Sure. "Carfax". Sure. It's role to be a transferable ownership of an item and to validate it's authenticity and details. You know the item is of the character it describes and that it corresponds to the actual thing.

[Melena]

Accidents are already logged by state dmv's and insurance companies, so that already is also redundant.

[Spicyryan]

Accidents are already logged by state dmv's and insurance companies, so that already is also redundant.

Hey, SHOW ME THE CARFAX.

[Melena]

So what you're saying is you can't come up with a single thing that makes it better than existing tech, without having to spend excessive resources to power, and has already shown it's not nearly as secure as it claims to be. Got it.

[NynJa]

I have nothing of value to add because I backed myself into a corner with how stupidly pointless and a waste of resources this would be so I'm going to make a stupid post and get that big post count +1

.

[Spicyryan]

So what you're saying is you can't come up with a single thing that makes it better than existing tech, without having to spend excessive resources to power, and has already shown it's not nearly as secure as it claims to be. Got it.

You could have actually had something there if you pointed out that Blockchains are known not to scale well, and you would have actually had a point. There are actually plenty of legitimate cons to the tech. However, no one points them out besides bullshit about it being a waste of power or resources. While any number greater than 0 is the bar to pass to become "a waste", it seems. It takes a great deal of resources and power to create basic staples like steel or aluminum, but the value of these is understood, and no one bitches about that on the internet. Instead they bitch about the most powerful computer networks in the world requiring power and resources. Oh, man. Overall, from the start I have simply been asserting that the value and potential of something basic like an NFT, and how it can function in a wider capacity. Is not well understood by many opponents to it.

Now, the lowest hanging fruit was what was touched on, and no one even commented on the first link I offered. Which is run on the Algorand network. Something "carbon negative", and scalable. Though in terms of this broad conversation. I can say that obviously I am not the best person to vet out the concept of how to apply the, once again, very basic principle of transferable digital ownership and authenticity of an item to people. Albeit, I don't believe the gaggle against the concept is either. The building blocks to a greater digital infrastructure are taking shape, and the comments continue to be a "yeah, but why?" Rather than an actual evaluation of the growing potential. NFTs are boring, but they serve as a piece of something greater. Something that doesn't focus on .jpgs.

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I am the only one going out on a limb, yes. Way to stay true to form on your part as well.