I guess you could say you just own a claim on it

But that's fine?

Am I missing something here?

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If you own a claim on it, where is the physical thing held? A custodian. Now say it with me, a custodian is a.... CENTRAL POINT OF FAILURE. They can, will, and ALWAYS DO, issue more claims on the asset than the actual underlying asset.

You cannot decentralize a physical good to use it digitally.

But the custodian isn't a central point of failure.

If there's a failure at a central point, it would be at dispute resolution, since individual custodians don't matter until then.

You're not thinking this through, you're just saying it can't be done because it hasn't, and trying to make that sound like a law of nature or something

It is in fact a law of nature that you cannot send physical things across the globe at light speed... It requires a custodian, which means that decentralization isn't possible.

You're acting like it's a law of nature that custodians can't be decentralized

And why does it still seem like you can't adjust to the idea that the difficulty is in conflict disputes?