Fools are always easily parted with their money. If you dont care about the arguments against NFTs, go for it. But don't have high expectations and cash out when you can, because at this point, it's a pyramid scheme that's just waiting to come tumbling down. Good luck.
You seem to know what you are talking about, so I reckon you are the person to address such questions to. I would appreciate anybody else answering them, of course, and since this is quite a lot, I certainly do not insist anybody actually sates my curiosity. I may attempt to google the answers, but half of what I find reads like a sales pitch while the other half is too esoteric for me to figure out.
Well this problem is being fixed. Currently there are a few blockchains that support NFT purchases. Many are already energy efficient. But the big one is Eth, which does require a lot of compute power to operate. That's being fixed by migrating to Eth2 next year which will move it from proof of work to proof of stake. Making it 99% more efficient than it currently is. So I feel like this argument is only good til next year then becomes moot.
Here you go. I've met him before as well. When it comes to writing code, his autism is unmatched. It's honestly a bit terrifying because you can throw a computational problem at this guy and he'll have it solved in a few weeks.
Vitalik has been promising PoS for years. I'll believe it when it happens.
Do not bother.
Well, why is gold valuable? Because everyone thinks it's valuable - it's the same thing. We could crash governments and financial markets across the world if we somehow got everyone in the world around the market to decide that gold shouldn't be worth more than a penny a gram and refuse to buy it for anything more.
That's a good question. I know more about the tech than I do the legalities and culture around this stuff. I'm sure it's inevitable a case involving an NFT contract goes to court at some point, and whether the court decides it's a valid contract or not might be something we can't know until it happens - and it's also quite likely different jurisdictions will have wildly different decisions. But the libertarians that tend to be most into this crypto stuff don't have much regard for government institutions in the first place…
A blockchain is a form of distributed database; a database that can exist on multiple computers, with some methods for making sure the data in the database is coherent and trustworthy even when we know we can't trust some of the people who are storing that database. Thus, so long as at least one computer has a copy of this database, and we can trust the operators of the majority of the existing copies of the database (or at least trust that the majority won't be able to be dishonest in the same ways), the database will remain up. Any crypto-related web sites like Coinbase are basically just web-based graphical interfaces for the broader blockchain databases which actually exists on thousands and thousands of computers across the Internet and around the world.
Trying to be succinct. I'm also not a legal expert.
The difference is there's a tradition of gold being valuable, and it looks valuable. Everyone justs knows it. NFTs are a forced meme compared to that.
People buy sneakers worth thousands of dollars and never wear them. Are they made of gold, do they give you magic powers? No. They're just told those shoes are worth that much.
Are there any patterns among sneaker hoarders? Perhaps an ethnic or cultural component?
Last time I was told ETH2 was coming september this year, now its next year, is this going to be like fusion power which has been just 5 years away since the 1960s?Well this problem is being fixed. Currently there are a few blockchains that support NFT purchases. Many are already energy efficient. But the big one is Eth, which does require a lot of compute power to operate. That's being fixed by migrating to Eth2 next year which will move it from proof of work to proof of stake. Making it 99% more efficient than it currently is. So I feel like this argument is only good til next year then becomes moot.
In the meantime,
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