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1 hour ago, Code Monkey said:

Yes, NFT technology is incredibly useful.

X to doubt. I've still not heard a single example of something that it can be used for that isn't already solved by 100 existing technologies. It also adds a shitload of unnecessary overhead to solve these non-existent problems.

NFT/Blockchain have been around for a while now, how many things that aren't gambling or "investing" are actually implementing them? What problems is it currently solving?

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Administrator · Posted
1 hour ago, Khromak said:

X to doubt. I've still not heard a single example of something that it can be used for that isn't already solved by 100 existing technologies. It also adds a shitload of unnecessary overhead to solve these non-existent problems.

NFT/Blockchain have been around for a while now, how many things that aren't gambling or "investing" are actually implementing them? What problems is it currently solving?

You are correct and anyone who says otherwise is currently holding the proverbial bag and needs you to change your mind. It's nothing but an investment vehicle and/or grift.

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16 hours ago, Khromak said:

X to doubt. I've still not heard a single example of something that it can be used for that isn't already solved by 100 existing technologies. It also adds a shitload of unnecessary overhead to solve these non-existent problems.

NFT/Blockchain have been around for a while now, how many things that aren't gambling or "investing" are actually implementing them? What problems is it currently solving?

New Balance is using NFT to validate authenticity in their shoes. Yes, it can be accomplished with other technology but NFT is more secure.

Stubhub is implementing something where they sell tickets via NFT because they can make a percentage of all resales as well because that can be tracked through the contracts.

Anything where you need a permanent, secure ledger of transactions can use blockchain or even specifically NFT technology. Selling pictures of cats is not one of them.

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1 hour ago, Code Monkey said:

New Balance is using NFT to validate authenticity in their shoes. Yes, it can be accomplished with other technology but NFT is more secure.

How does this authentication work? A physical object can't be tied to a blockchain any better than it can be tied to....anything else?

1 hour ago, Code Monkey said:

Stubhub is implementing something where they sell tickets via NFT because they can make a percentage of all resales as well because that can be tracked through the contracts.

You can do this through any other digital platform on the planet. Any website can handle resales and they can track and make profits off those resales. Also, when you transfer your tickets using a website you don't (necessarily) have to pay a fee to transfer it to pay for the blockchain to process your transaction.

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Administrator · Posted
2 minutes ago, NostalgicMachine said:

Welcome! Hell of an intro. You'll find most of us are into retro and classic gaming here, some (such as myself) more or less exclusively.

Welcome to the party!

Unlikely he's coming back; came in, shared the game, never logged in again.

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On 8/3/2024 at 7:57 AM, Khromak said:

How does this authentication work? A physical object can't be tied to a blockchain any better than it can be tied to....anything else?

You can do this through any other digital platform on the planet. Any website can handle resales and they can track and make profits off those resales. Also, when you transfer your tickets using a website you don't (necessarily) have to pay a fee to transfer it to pay for the blockchain to process your transaction.

I'm not actually sure how the authentication worked, I'm guessing some sort of URL or QR code to a unique blockchain address. As long as you had that address, you "owned" it. I'm sure it makes sense if you understand it, I've never actually looked at how it works and I'm not saying it's a great way to accomplish the task.

You can accomplish profit from ticket resales with technologies other than web3? How? The solidity contracts automatically deposit a portion of the sale into the original owner's account and I don't know of any other technology that can duplicate this. The only way to avoid this would be for me to sell you my entire wallet. Then the resale isn't triggered via a wallet transfer.

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12 hours ago, Mega Tank said:

Season 6 What GIF by The Office

If a rogue bank employee wanted to log into the bank's database and transfer all money our of your account and into theirs, they (at least someone) has the ability to do so. Whether or not you would eventually get your money back is irrelevant to the fact this is possible.

There isn't a person on Earth that has the ability to modify the blockchain, that's the inherent security of the technology behind NFT. Once you own a token, it can never be taken away from you (besides someone hacking your password).

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Administrator · Posted
17 minutes ago, Code Monkey said:

You can accomplish profit from ticket resales with technologies other than web3? How? The solidity contracts automatically deposit a portion of the sale into the original owner's account and I don't know of any other technology that can duplicate this. The only way to avoid this would be for me to sell you my entire wallet. Then the resale isn't triggered via a wallet transfer.

Digital tickets on a platform which allows for reselling tickets. You could *easily* replicate this feature in any system. It's nothing special at all. 

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2 minutes ago, Gloves said:

Digital tickets on a platform which allows for reselling tickets. You could *easily* replicate this feature in any system. It's nothing special at all. 

If I sell my ticket on their platform, sure. What if I sell it to my brother and I simply hand him the ticket and he hands me cash? It's not hard to accomplish the same end goal in a specific scenario but it's impossible to replicate the ability to make it impossible to sell a ticket without the original owner making a profit. This is only possible with NFT.

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Administrator · Posted
5 minutes ago, Code Monkey said:

If a rogue bank employee wanted to log into the bank's database and transfer all money our of your account and into theirs, they (at least someone) has the ability to do so. Whether or not you would eventually get your money back is irrelevant to the fact this is possible.

There isn't a person on Earth that has the ability to modify the blockchain, that's the inherent security of the technology behind NFT. Once you own a token, it can never be taken away from you (besides someone hacking your password).

Someone close to me, at their last job, had a social engineering hacker convince their HR via email that they wanted to update their banking info for direct deposits. The HR person made the change, which would cause all of their biweekly pays to go to this random hackers bank account. 

Social engineering remains the most common and effective methods of hacking, and block chain doest just not protect you from it, there's also no recourse for when it happens. If someone gets into your account and moves your coins, nfts, etc., you simply are not getting them back, period. Decentralization of currency is a *really terrible idea*. 

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Administrator · Posted
Just now, Code Monkey said:

If I sell my ticket on their platform, sure. What if I sell it to my brother and I simply hand him the ticket and he hands me cash? It's not hard to accomplish the same end goal in a specific scenario but it's impossible to replicate the ability to make it impossible to sell a ticket without the original owner making a profit. This is only possible with NFT.

It's a digital ticket, how exactly are you "handing" it to him? 

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Administrator · Posted

Beyond that, you realize how anti-consumer that is anyway, right? If I buy something, I want to be able to hand it to my brother at no cost to either of us. 

Fuck anyone who breaks our ability to do so. 

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