Nostr Web Client

As a raging #bitcoin maximalist, I’m fine with ‘#crypto’ existing… but we need to very clearly define the difference.

nostr:npub15dqlghlewk84wz3pkqqvzl2w2w36f97g89ljds8x6c094nlu02vqjllm5m's framework is pretty reasonable when you consider that #btc is the only money, everything else is some level of utility.

Real world comparisons:

It is like saying we have gold, so you didn’t need to invent Facebook.

Or you have gold, so you don’t need the deed (soon to be NFT) to your house to prove you own it.

Grow up and recognize that blockchain as the underlying technology has use, but only Bitcoin is money.

Systemling32 11mo ago

I respectfully disagree. Personally I haven't found any use of Blockchain technology, that Bitcoin does not do.

Deeds to houses don't need to become an NFT and shouldn't. What if I lose the private key to my "house ownership NFT"? Whose house is it now? Do I have to move out? For real estate the ledger tracking ownership can be centrally in the hands of the entity that provides you with property rights to that house. So basically the state. If the state does not approve of you selling the house, the sole transfer of that NFT will not be enough.

Putting real-world assets on the blockchain does not work, as there is no trustless link between real world asset and the blockchain. If the house burns down, who writes that to the blockchain?

Only real world asset that can provably be put on the blockchain is computing power through PoW.

In my opinion blockchain is good for digital money and timestamping of files/information.

And even if you want to mint an NFT for your house, you can do that on the Bitcoin blockchain and don't need "crypto".

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Discussion

Anda 11mo ago

It sounds like you don’t own a house or haven’t worked with deeds. The government approves/records the deed to a house, ie the Assessor/Recorder office would issue the NFT.

The concern with physical deeds is they’re incredibly easy to forge and steal property. An NFT is significantly more challenging to steal if issued by the institution that oversees property, as they would control the NFT.

Unfortunately you can’t self-custody property because the land is literally owned by the US government. Can’t speak to other countries.

Systemling32 11mo ago

You are correct, I don't own any real estate and don't live in the same jurisdiction as you do.

I am not against using cryptography to make documents such as the deed to a house forgery proof. But there is no need to store that record in a globally decentralized public blockchain. You can have a cryptographically signed certificate stating ownership and have that as a small text file on government servers, S3, your drivers license's chip or encoded into a QR Code and framed in your bathroom.

Anda 11mo ago

Even I agree, unless there’s a zero knowledge way of doing this. Unfortunately this means there will be a closed blockchain then…

Systemling32 11mo ago

Like I said you don't need a blockchain for that. Just a folder full of those certificate files that is backed up well.

Blockchain solved the problem of establishing the chronological order of events in a adversarial environment without a central time keeping server.

In the example of a government the same entity that writes and signs the ownership certificate can also write in the current date and time. You need to trust them as an oracle anyway.

Anda 11mo ago

It seems we will agree to disagree. Nice to hear your perspective.