Keep calm, this is a loud minority attacking you for NFT implementation. --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



  • Rym

    We found the NFT scammer in the forum. See above.

    What a rube.

  • That moment when you're such a shill you'd rather destroy the environment, debase virtual artwork, and ruin livelihoods for the chance to have a bit of money from an NFT.

    A.K.A. a scammer who likes non-fungible scams. Too bad that abbreviates to the same thing as Need For Speed.

    Also: "or they support wind farms which kill endangered birds and cause noise pollution" Ah yes, don't mind me supporting this wind farm which has had one rotor painted black, known to effectively and efficiently reduce collisions with the rotors.

  • Tikepo

    Prompted by the flurry of post I did some research.

    NFT = non fungible token. Essential a unique digital certificate stored on a block chain platform.

    Blockchain = an algorithm used by platforms for recording/managing transaction. Characteristics include:
    -> All transaction are public perminant and indelible.
    -> Non Centralized: many copies of the data. Hacking is prevented because it is impossible to modify the data on so many different machines controlled by different people.
    -> pseudonomical - not inherint but most implementation allowed wallets to bade under pseudonames, hiding the rl info of the owner.

    Criticisms of NFT Inc
    1) Environmental impact. Many many copies of the data make Blockchain extremely secure against hackers. The downside is having so many computers doing this work consumes an incredible amount of electricity.
    2) Frivolous NFT: There are high profile stories of NFT specifying the owner somehow owns a particular copy of a digital image posted on a url anyone can visit and view. There are NFT specifying the owner somehow owns a history event such as the first tweet or a play in a game.
    3) Risk: Their is a cost to "mint" a NFT. If they can't sell it for more than that, they take a loss. People looking to buy NFT as investments can loose if the value drops or if no one is interested in buying it. Watch out for contacts that the creator gets a cut of future sale. This has to be factored into investment profit calculations
    4) Scams: Most Blockchain platforms are pseudonamonous. This means you can't be sure the creator of the NFT is who they claim to be - or that they actually have the right to what the NFT represents. For NFT pointing to a url of a image (or anything else), The NFT does not prevent the contents of the url from being charged. There is nothing (other than creators reputation) preventing multiple NFT pointing to same url.

    Potential counter arguments:
    1) A statisticion could figure out how many copies of the Blockchain are actually needed to insure integrity of the data and write the algorithm to limit the numbers of computers doing this work. Traditional Banks have employees driving to work inside buildings that consume energy for heat, air conditioner, light etc.
    2) while news worthy for their outrageousness, those Frivolous NFT purchased by wealthy people are a distraction from more legitimate uses of NFT including tickets to events or deed/title to physical or in game items
    3) Education is key. Anyone selling things for profit or investing in anything need to do some research first. This is not specific to NFT
    4) NFT platforms don't have to allow pseudonamonous accounts. Users should do some verification before buying


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