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Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 10 Jun 2021, 17:03
by GrayRabbit
Crypto payments can be validated on the blockchain.
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 10 Jun 2021, 17:06
by KrisMor
Why? the buyer throws money and the public key, the seller encrypts the product with the winner's key and puts the magnet link to the encrypted container in the chain as well.
What a joy it is for the buyer to be the only one who needs a container with a closed piece, I don't know. The real picture can even be hung in the hall and shown to guests.
Although now you can trade the private key from the container where the "La Gioconda" lies.
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 10 Jun 2021, 17:11
by Atamos
Nope, a public key can only validate a signature made with a private key. On the contrary, it won't work. It is impossible to encrypt with a public key, well, that is, anyone who has this key (and it is open) can decrypt, or no one can do it at all.
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 10 Jun 2021, 17:12
by DimanBo
Hmm. In general, encryption is just done with a public key so that only one addressee can decrypt the data - the owner of the private key. And in the EDS infrastructure - yes, everything changes places there, where the decryption key becomes the public key. It's just a different task.
Need a Foundation Invite
Posted: 10 Dec 2021, 14:56
by Ryan Mosley
Hello NFT Community
Good News!!!
Just recieved 3 last foundation invites to foundation.app
Note that foundation has stopped issuing invites and in the near future after the last circulating invites run out getting onto the platform is by community upvote!!
Get in touch at
mosleyryan59@gmail.com
For details
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 08 Jan 2022, 15:53
by Mike09
KrisMor wrote: ↑10 Jun 2021, 17:06
Why? the buyer throws money and the public key, the seller encrypts the product with the winner's key and puts the magnet link to the encrypted container in the chain as well.
What a joy it is for the buyer to be the only one who needs a container with a closed piece, I don't know. The real picture can even be hung in the hall and shown to guests.
Although now you can trade the private key from the container where the "La Gioconda" lies.
This is very blurry thing id rather buy a cllection than the key to collections with 50\50 chance
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 08 Jan 2022, 15:54
by Mike09
DimanBo wrote: ↑10 Jun 2021, 17:12
Hmm. In general, encryption is just done with a public key so that only one addressee can decrypt the data - the owner of the private key. And in the EDS infrastructure - yes, everything changes places there, where the decryption key becomes the public key. It's just a different task.
Why do they have to encrypto the crypto currency? They ruin the concept
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 12 Jan 2022, 12:27
by tyufhf
GrayRabbit wrote: ↑10 Jun 2021, 17:03
Crypto payments can be validated on the blockchain.
Blockchain never gives away any crypto passwords or anything else. They just show a purchase
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 12 Jan 2022, 12:29
by tyufhf
Mike09 wrote: ↑08 Jan 2022, 15:54
DimanBo wrote: ↑10 Jun 2021, 17:12
Hmm. In general, encryption is just done with a public key so that only one addressee can decrypt the data - the owner of the private key. And in the EDS infrastructure - yes, everything changes places there, where the decryption key becomes the public key. It's just a different task.
Why do they have to encrypto the crypto currency? They ruin the concept
Thye mean giving away personal information of traders. But i dont understand what there is to hunt on. Blockchain gives all the information about the purchase
Re: NFT is a pyramid scheme and people are already losing money on it
Posted: 04 Feb 2022, 14:53
by Robert_Lee
Mike09 wrote: ↑08 Jan 2022, 15:53
KrisMor wrote: ↑10 Jun 2021, 17:06
Why? the buyer throws money and the public key, the seller encrypts the product with the winner's key and puts the magnet link to the encrypted container in the chain as well.
What a joy it is for the buyer to be the only one who needs a container with a closed piece, I don't know. The real picture can even be hung in the hall and shown to guests.
Although now you can trade the private key from the container where the "La Gioconda" lies.
This is very blurry thing id rather buy a cllection than the key to collections with 50\50 chance
Is there a think with keys? What does that mean? It an auction?