"e.g. you are the rightful owner of the Brooklyn Bridge."
I note that this whole NFT thing is bollocks but you are only buying an image of the Brooklyn Bridge not the bridge itself.
This is not the same as a bloke pretending to flog the real bridge to you. That is why John Cleese picked that bridge because it was famously "sold" several times to victims of fraud.
When I say bollocks, that is too trite as well. NFT means non fungible token and yet it clearly is "fungible" in some way. I generate one and sell it to you. The blockchain "proves" the transfer of ownership.
Fiat (let it be) money is on pretty shaky ground as well and yet we live with the fibs and outright lies and get on with trade. If you look at the recent GME trading stuff and break it down into the various components - start with "what on earth is a USD?", it all rapidly gets a bit mad. Work your way up through what a short is or even what a simple stock trade actually means and then perhaps look at how the trades are trued up every few days and other weirdness.
Calling out NFTs as bollocks is a bit off. Fiat money and stocks n that are basically a game with a lot of rules, a lot of rules. It is possible that some of those rules are made up on the fly by the banker and the banker may not be who you think they are.
That said, I don't see myself using crypto coins. I mined over one BT back in the day and lost the wallet on my Pentium II when I dumped err recycled it. At the time it was worth a few quid - the BT that is. I really won't buy a NFT unless I suddenly find my NW in the millions and I get bored.
Now Mr Cleese's piccy of the bridge does look quite tasty ... copy, paste .... delete. 8)
I note that this whole NFT thing is bollocks but you are only buying an image of the Brooklyn Bridge not the bridge itself.
This is not the same as a bloke pretending to flog the real bridge to you. That is why John Cleese picked that bridge because it was famously "sold" several times to victims of fraud.
When I say bollocks, that is too trite as well. NFT means non fungible token and yet it clearly is "fungible" in some way. I generate one and sell it to you. The blockchain "proves" the transfer of ownership.
Fiat (let it be) money is on pretty shaky ground as well and yet we live with the fibs and outright lies and get on with trade. If you look at the recent GME trading stuff and break it down into the various components - start with "what on earth is a USD?", it all rapidly gets a bit mad. Work your way up through what a short is or even what a simple stock trade actually means and then perhaps look at how the trades are trued up every few days and other weirdness.
Calling out NFTs as bollocks is a bit off. Fiat money and stocks n that are basically a game with a lot of rules, a lot of rules. It is possible that some of those rules are made up on the fly by the banker and the banker may not be who you think they are.
That said, I don't see myself using crypto coins. I mined over one BT back in the day and lost the wallet on my Pentium II when I dumped err recycled it. At the time it was worth a few quid - the BT that is. I really won't buy a NFT unless I suddenly find my NW in the millions and I get bored.
Now Mr Cleese's piccy of the bridge does look quite tasty ... copy, paste .... delete. 8)