The thing I really enjoy about non-fungible tokens (NFTs) and "smart contracts" more broadly is that there's no way to get them to point to information or objects outside the blockchain without introducing a trusted third party, the whole thing you set up a blockchain to avoid.
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Major investors are all smart enough to understand this disqualifying flaw with smart contracts, but are pouring money into the exercise anyway, for the same reason that mobsters once poured money into an empty patch of Nevada desert. Unregulated gambling is lucrative as hell
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The rest of us should remember that the existence of a thriving ecosystem around the purchase and sale of magic beans does not imply the existence of a beanstalk
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For those still confused but ashamed to ask: NFTs are basically just like buying a special sword in World of Warcraft, except without the game and also without the sword
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I hope whoever taught the kind of people who were flipping homes in 2007 about hash functions has their life savings on the blockchain
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I think I'm angriest about NFTs because it's a kind of low-volume bookmarking that makes other people rich
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Actually NFTs are the first thing in crypto that actually make sense to me... precisely because I’ve always regarded anyone who collected anything as insane. Grew up borrowing comic books from friends.. still don’t get why you’d want to own one.
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Given that collectibles are dumb, and given that all our experiences are trending towards digital, it makes sense to me that NFTs caught the marketing zeitgeist to be the digital collectible platform while making no sense in terms of utility (like all collectibles)
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My fav word - Solipsism!
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Sometimes I feel like I'm the only one who knows it
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Thanks. Twitter will use this to make your timeline better. UndoUndo
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