Global Feed Post Login
Replying to Avatar Janiak 💜⚡️

Here's the problem, though: an NFT does nothing if someone just steals the sculpture.

NFTs are merely certificates, or claims, that someone owns something; they're not the owned thing itself. Just like how a marriage certificate isn't the marriage itself, nor can it guarantee that one spouse can't/won't cheat on the other, NFTs aren't the thing that's claimed to be owned, nor can they guarantee any ownership, or that the thing it certifies ownership of can't be stolen. You can *"prove ownership"* all you want, but that does nothing to *"force the artist (or last owner) to deliver the goods."*

Bitcoin is information that acts like a physical thing; NFTs are just information of empty promises that mean nothing in the real world. Spending real money on one is a complete and total waste in every way.

#Bitcoin 💜🪙⚡️

Avatar
Moid ( DEAD ACCOUNT. SEE DISCRIPTION FOR NEW NPUB ) 2y ago

Yep. They can be skins or something in a game, but the tether to a meat space item is still dependant on enforcement of the law - and if it is the lawmakers confiscating your meat space property, pointing to your coinbase wallet does nothing.

And if it is a normal person stealing it, the NFT become nothing more than a receipt that corroborates a host of other evidence.

Reply to this note

Please Login to reply.

Discussion

No replies yet.