NFT is a pyramid scheme and people are already losing money on it

You can exchange pictures, music, domains and other things in this NFT forum.
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Agapai
Posts: 11
Joined: 27 May 2021, 15:57

Re: NFT is a pyramid scheme and people are already losing money on it

So it seems that it is enough not to contact this address, and it will be washed off with more relevant files.
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Avaya
Posts: 18
Joined: 08 May 2021, 06:06

Re: NFT is a pyramid scheme and people are already losing money on it

how to understand "wash off"? Where to wash off? One picture - one unique hash -> one unique url. Another picture = another hash = another url.
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Agapai
Posts: 11
Joined: 27 May 2021, 15:57

Re: NFT is a pyramid scheme and people are already losing money on it

Avaya wrote: 10 Jun 2021, 16:51 how to understand "wash off"? Where to wash off? One picture - one unique hash -> one unique url. Another picture = another hash = another url.
It will wash off to nowhere. In order to download a picture from IPFS, someone must have it on the network. If it is washed away from everywhere as not in demand, it will simply disappear.
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SenoSan
Posts: 12
Joined: 27 May 2021, 15:53

Re: NFT is a pyramid scheme and people are already losing money on it

Pin on one device solves this problem
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Ilona
Posts: 22
Joined: 08 May 2021, 05:40

Re: NFT is a pyramid scheme and people are already losing money on it

Straight some miracles. Do you even understand what you wrote?
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KrisMor
Posts: 39
Joined: 04 May 2021, 10:23

Re: NFT is a pyramid scheme and people are already losing money on it

As I wrote above, I thought that the digital product (file) itself was placed on the blockchain, but as it turned out I was wrong. Are you still confused by something?
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Barry
Posts: 23
Joined: 27 May 2021, 15:40

Re: NFT is a pyramid scheme and people are already losing money on it

I am far from all this, but I also imagined that there was some kind of authenticity identifier. And above they wrote about the ability to save the hash of a digital "work". So maybe you weren't mistaken here.

But you better tell me how you plan to stuff Maradona's ball into this token?
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Bazyka
Posts: 26
Joined: 24 May 2021, 17:37

Re: NFT is a pyramid scheme and people are already losing money on it

In general, I doubt that it is possible to create a completely decentralized service that would provide access to works only to those who bought / subscribed to them. Those. an analogue of Patreon or even some tl.rulate.ru on the blockchain alone cannot be done.
No smart contracts allow such a thing to lie directly in the blockchain, but only those who paid. You will always need a third-party service to distribute keys upon payment, because such keys cannot lie in the blockchain in any way - then everyone will see them.
This is a fundamental and insurmountable drawback of the crypt.
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Arus
Posts: 30
Joined: 03 May 2021, 09:26

Re: NFT is a pyramid scheme and people are already losing money on it

"The keys cannot lie in the blockchain in any way" - wait a minute, what about asymmetric encryption? We encrypt any purchase with the buyer's public key and put it in the blockchain. Only the owner of the secret part of the key (the buyer has it) can read it.
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Bazyka
Posts: 26
Joined: 24 May 2021, 17:37

Re: NFT is a pyramid scheme and people are already losing money on it

But this key cannot be automatically issued to the buyer using the blockchain alone, say, upon the execution of a smart contract. You will need a third-party centralized service to check the payment and issue the key.
Ie. the entire purchase process cannot be crammed into the blockchain in any way, only money transfer and nothing more.
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