NFT (Non-Fungible Tokens) - Files as crypto currency

Krimjob said:
So where would do people go if they want to sell a meme NFT? I literally don't understand the difference between these platforms, they all seem kinda similar.
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If you want it to be immutable, use infinitytokens (infininft.com). If you want to replace it with a trollface after selling, mint on opensea.io and host the image on a free neocities site.
 
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Large said:
Avastars and tinyboxes NFTs store tiny amounts of data that makes the final image when inputted into a generator.
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Neat. If the generator is public domain that should mean anyone could recreate the images, right?

Large said:
L1 has to be very small because of ethereum limitations.
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How small are we talking? And how much do you think it would cost?
 
Large said:
Yes, as long as the generator exists somewhere. So if a new L1 pops up, gets barely any attention and disappears those NFTs CAN break, but avastars and tinyboxes are probably safe as long as Ethereum exists.

IDK
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Is it even possible for Ethereum to stop existing?
 
💗Bitchstopher Columbitch💗 said:
Irrelevant doesn't mean destroyed, though. Could the attackers rewrite your NFTs?
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They could rewrite any transaction they were involved in, and block network activity, as far back as their hash power would allow. In the most recent ETC attacks, that seems to have been a couple days.
https://www.coindesk.com/ethereum-classic-blockchain-subject-to-yet-another-51-attack

Of course this would be much, much harder to pull off on regular Ethereum.
 
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Kosher Dill said:
They could rewrite any transaction they were involved in, and block network activity, as far back as their hash power would allow. In the most recent ETC attacks, that seems to have been a couple days.
https://www.coindesk.com/ethereum-classic-blockchain-subject-to-yet-another-51-attack

Of course this would be much, much harder to pull off on regular Ethereum.
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So basically, any NFT based on a smaller blockchain is at risk of getting rewritten. High end NFTs should definitely be on regular Ethereum, then.
 
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💗Bitchstopher Columbitch💗 said:
High end NFTs should definitely be on regular Ethereum, then.
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Well, maybe and maybe not.
The only people who can potentially "steal back" your NFT with a 51% attack are previous owners, and most likely recent previous owners. That's not really a motivated group of attackers - by definition, previous owners have already completed the "dump" phase of the NFT pump-and-dump cycle. They made their money. Stealing their NFT back while damaging the credibility of the NFT market wouldn't really be compelling.

I'd worry more about the storage side of things.
 
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deadline.com

Chadwick Boseman NFT Sparks Controversy, Gets Redesign Following Late Actor’s Oscars Loss

An NFT created of the late Chadwick Boseman for the 93rd Academy Awards is being redesigned after sparking backlash online. Andre Oshea, one of the artists hired to produce the non-fungible token, …
deadline.com deadline.com

Kek.
 
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Shield Breaker said:
I keep hearing how NFT and crypto in general are 'destroying the planet' by the tards on twitter. What are they even talking about?
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The popular claim comes from a simplistic analysis where they took the entire energy consumption of the Ethereum network and said "Your NFT counts for X% of this".

Which is sort of like saying you drive a car, there are 1 billion cars in the world, therefore you, personally, are responsible for one billionth of all global warming, all pollution from the petroleum industry, all the deaths caused by wars over oil, and so on.
In reality it doesn't work that way and refineries are not going to scale down their operations by one billionth if you stop driving.

It is true, however, that proof-of-work cryptocurrencies are a gigantic waste of energy.
 
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Shield Breaker said:
I keep hearing how NFT and crypto in general are 'destroying the planet' by the tards on twitter. What are they even talking about?
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This:
digiconomist.net

Bitcoin Energy Consumption Index - Digiconomist

The Bitcoin Energy Consumption Index provides the latest estimate of the total energy consumption of the Bitcoin network.
digiconomist.net digiconomist.net

There is also this Twitter thread:
 
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