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Owneruleship
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this post was submitted on 21 Oct 2025
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The image is not the NFT. How do people still not get it. You own the TOKEN not the image
Bro that's worse
Yeah you own a token which holds a copy of the link because storing image data on blockchain would be a fucking nightmare.
Entire things a gag.
Basically someone noticed you could make a crypto where each one holds unique to the blockchain data, and this is the best use they could make with it...
It makes me wonder what happens when one of these bag holders straight up no longer runs nodes, the few others who ran them follow, and no one is holding up the blockchain anymore. I guess someone could set up a new node, but would that temporary loss make it a new blockchain? Also they'd just be able to gank everyone's worthless tokens lol.
It's a bet, the current owners have wagered that the structure will exist long enough for someone else purchase it later at a higher price, under the auspice that they in turn will be able to pass this bag forward again later. Everyone actually involved knows there's no value to it OTHER then the record of previous sale prices and the line that keeps going up.
...nobody's saying it's not worse
That's..... That's the entire joke. Is that you don't own it.
No, NFTs are a joke but the post doesn't land
Jets flying low today then eh?
Oh yeah? If you own the token, show it to me. Hold it up in your hands. Show it to me fungibly.
I mean, I own a snow shovel but I have no way to prove it because I'm not at home and I don't have a photo of it.
I'm not saying blockchain is amazing, and I don't even think we'll put it to any good use (I mean it's been years), but the concept of property can be nebulous.
I was just talking shit about NFTs since they are specifically non-fungible. I have a dim view of them, and have yet to see a use case that couldn't be done more elegantly through account ownership, like owning a game on Steam for example. I know proponents like to argue that they own their token, and I don't own my games, but I feel like enacting laws over software ownership can fix that, where NFTs are fundamentally valueless without a company providing value. Like the Nascar mobile game NFTs that became worthless once the game was canceled. I own the token for a virtual car, but it now does nothing and has no value. And I wouldn't mind that, except for the fact that the lock chain is inherently resource intensive, so we wasted a lot of electricity and clean water to prove someone has a now useless Dale Earnhardt.
Well, I don't think having something in your steam library counts as owning it either, needs to be totally DRM-free and available if you or Steam is offline.
Agreed on the account ownership though, just a straightforward system that NFTs overcomplicate.
NFTs are useful in cases far removed from owning a jpeg. Things like supply chain, where each item is tied to an NFT, akin to a tracking number. You now have an immutable history of when and where each item is along every step of the supply chain
But again, the computer that would go into that kind of a system is astronomical per item. It just doesn't make sense to use.
Only if you're talking about a Bitcoin-style public ledger blockchain. The auditable, immutable history can also make sense in a private blockchain that costs next to nothing to add to, can be backed up for a song, and can only be added to if you hold the private key.
I haven't heard of this implementation. Yeah, this 100% is viable.
Yet. That is the big reasoning behind proofs of chain like work, etc.
Well then go home, get your camera and your token, and show it to us. We can wait.
Hey buddy, I got the deal of a lifetime for you. As a one-time offer I'll sell you the Brooklyn Bridge for a never-before seen price.
I think most people actually do understand the distinction at this point and just aren't impressed enough to care. Like wow, after my computer's PSU ignites and fries the whole rig into a charred cube, I still have the sales receipt for it... Big flex. Snapping photos of my gaming rig's sales receipt to impress my buddies on discord. Look at all this money I spent.