GAMESTONKS II - Full Faith and Credit in Memes

[NynJa]

[Drai]

atm NFT's are like the Diamond companies were way back in the day, inflating the worth of the product with nothing to back up said worth other then "Because we said so", so far nothing I've seen during any of my scouring, reading, and yes Spicy even looking through your links, can't be done with what we currently have at a much reduced overall cost to doing so.

Sometimes early adopters make bank by getting in on something early, but the current showings haven't enticed me enough yet, we're currently in the "Sand Castle Building" phase of NFT's, the initial Waves have hit and it's being torn apart, if the people building the castle want it to survive they either need to limit the wave hitting it or just build it out of better material >.>

[archibaldcrane]

The "capitalism is the root of all evil" guy being the "we must find a way to establish immutable private ownership of digital goods" guy is very funny

[Spicyryan]

The "capitalism is the root of all evil" guy being the "we must find a way to establish immutable private ownership of digital goods" guy is very funny

Is it funny because it is a misrepresentation of both quoted items?

[Meresgi]

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.

I'm not seeing why digital hashes can't be used for this? Run a SHA1 hash against the item in question. Now you have proof it wasn't altered in any way. I'm still not seeing the major benefit and everyone touting NFT/Blockchain amazingness never seem to point to anything that isn't already being done, and being done in a pretty well done method. Carfax does profit off of data collection but this is data already being pulled? I mean if you wanted you could write something to query every accident database and such yourself (i'm assuming they have public APIs or does Carfax have some sort of data sharing deal with them?)

[Spicyryan]

I'm not seeing why digital hashes can't be used for this? Run a SHA1 hash against the item in question. Now you have proof it wasn't altered in any way. I'm still not seeing the major benefit and everyone touting NFT/Blockchain amazingness never seem to point to anything that isn't already being done, and being done in a pretty well done method. Carfax does profit off of data collection but this is data already being pulled? I mean if you wanted you could write something to query every accident database and such yourself (i'm assuming they have public APIs or does Carfax have some sort of data sharing deal with them?)

What about the transfer of ownership?

[Meresgi]

What about the transfer of ownership?

Of what? Anything beyond NFT jpgs and such? I'm struggling to think of a scenario where having a blockchain showing the transaction in anyway defeats traditional bank receipts?

Edit: Googling around and reading some Reddit stuff and the idea of using NFTs for the DMV came up, having all the registration and everything roped into an NFT to prove ownership of the vehicle and what not...but I'm still not sure why I can't just have a title with a stamp on it, if it MUST be digital then it's stored on a secure webserver and a copy sent to me along with a hash. Now there are 2 copies and i'm free to make as many as I want to store them in multiple backup locations and the hash applies to them all.

[Spicyryan]

Of what? Anything beyond NFT jpgs and such? I'm struggling to think of a scenario where having a blockchain showing the transaction in anyway defeats traditional bank receipts?

Edit: Googling around and reading some Reddit stuff and the idea of using NFTs for the DMV came up, having all the registration and everything roped into an NFT to prove ownership of the vehicle and what not...but I'm still not sure why I can't just have a title with a stamp on it, if it MUST be digital then it's stored on a secure webserver and a copy sent to me along with a hash. Now there are 2 copies and i'm free to make as many as I want to store them in multiple backup locations and the hash applies to them all.

Receipts for proof of transaction? The whole point is not to need that and to yes, digitize.

I think at first there will still be the physical document as a transitional phase, but eventually no more physical title in this case. Most physical objects for purposes like this don't need to exist. Talk about a waste of resources and energy to make and distribute those

[Krandor]

You do know receipts can already be digital right?

[Mythe_Seraph]

Round and round the circle goes

[Drai]

You do know receipts can already be digital right?

Yeah, but they aren't authenticated by the blockchain, so you clearly don't own it enough

[Zealot]

What If I have a receipt for the blockchain.

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[Drai]

What If I have a receipt for the blockchain.

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[Meresgi]

Receipts for proof of transaction? The whole point is not to need that and to yes, digitize.

I think at first there will still be the physical document as a transitional phase, but eventually no more physical title in this case. Most physical objects for purposes like this don't need to exist. Talk about a waste of resources and energy to make and distribute those

I check out of Home Depot and it asks me if I want a physical receipt or to email it to me. I don't think we're ever getting away from certain things ALWAYS being physical like birth certificates, passports, car titles, etc for quite some time and I don't see how any of this would move that forward.

CVS receipts need to only be digital though, fuck that nonsense.

[Forte]

It's really simple.

Fuck this "It's in it's infancy" bullshit. Fuck this "It could be the next X".

Until it does something that has literally ANY benefit, ANY at all, shut the fuck up about it. This isn't some new tech that people are seriously researching and trying to integrate. It's a bunch of retards gambling with money. You have zero evidence that it's anything but that. Until you do, shut the fuck up.

[Spicyryan]

It's really simple.

Fuck this "It's in it's infancy" bullshit. Fuck this "It could be the next X".

Until it does something that has literally ANY benefit, ANY at all, shut the fuck up about it. This isn't some new tech that people are seriously researching and trying to integrate. It's a bunch of retards gambling with money. You have zero evidence that it's anything but that. Until you do, shut the fuck up.

"He's an angry elf."

[Kaslo]

[Outlaw]

CVS receipts need to only be digital though, fuck that nonsense.

Ha ha! I know right? Those things are literally five feet long.


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[Karbuncle]

NFTs, more like No fucking thanks.

Spoiler: show

I'm sure that joke has been made here like 20 times and i don't care.

[Athas]

Nasty Fucking Things