an ancient bitcoin?

Actually, you CAN duplicate things on the blockchain.

When Bitcoin deployed a new software release, some people refused to update and so now you have Bitcoin and Bitcoin Cash - if you had bitcoin back before the split you have both (recall the discussion about the 1toz 1000btc coin we had last week).

The advantage of the distributed ledger that makes up the blockchain is everything is out there in the sunshine.

The disadvantage is that if 50% + 1 of the participants agree, you can make anything you want to happen happen. It wasn't that long ago that 75% of the bitcoin "power" was concentrated in three Chinese mining pools.

https://fortune.com/2021/10/26/bitc...rship-concentration-top-investors-nber-study/

 

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I have a friend that sells 14,000 Megawatts of power to an entity that is running custom computer warehouses to mine cryptocurrency. Huge banks of thousands of supercomputers cranking away 24/7 .

 

Here you go. You owe me a Starbucks.





BTW @DonnaML, you have exclusive ownership of these images. In fact, no one else can even see them, just you.

 

Wow. I'm rich!

 

Oh rats. By quoting my message you just shared them with everyone. Oh well, there's something to be said for altruism.

 

Well she still owns them on your imaginary blockchain. Even with real NFTs, there is nothing prohibiting others from looking.

 

If I felt like running out to buy a box of crayons, I'd color a nice picture of a mint Eid Mar and call it an NFT...worth dumploads, of course, being so unique. Why in crayon? Because that seems to be the appropriate medium for the target audience.

Also, I could offer an NFT photo of a piece of toast with almost any image you'd like burned into it. Limit of ten.

 

I have an opinion as to which of our coins is worse but I will not transmit that opinion unless someone pays me for it. Is that a crypto-opinion?

 

I'll buy your opinion.

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"@Valentinian, I think this was intended for the "An uncommon coin of a very common emperor" thread."

EDIT: @gsimonel is right. There are perils to having two CT windows open at once. Look for my post about a scarce Constantius II coin type there.

 

@Valentinian, I think this was intended for the "An uncommon coin of a very common emperor" thread.

 

Because there's certainly no higher use for that kind of computational (or electric) energy.

 

You may be the first mover in that particular location, but selling or claiming ownership of extraterrestrial real estate already has a long and colorful history. Mars and the Moon are already being parceled out.

All it takes is enough people agreeing about ownership. In fact, I'm pretty sure that's all any ownership of anything has ever entailed.

 

if i understand this, you pay 800+ dollars to own a "picture" of a real coin??? you can get that in any book, or just look on the internet and copy any picture of any coin you like..how does this make sense???

 

This throws up some interesting questions. If a collector displays his collection online, with high quality (spinning?) pictures and all technical data for everybody to see, this does remove the exclusivity aspect of collecting the real thing. Why should I spend money on a coin that everybody else can enjoy for free? Granted, not everybody can hold it in their hands (and if you collect slapped coins not even the collector can hold in his hands), but that is about all that remains in terms of exclusivity. Or, put differently, why should I not add coins to my online collection that I don't possess?

 

Not quite. Being able to see a picture is not equal to owning the picture. Looking at the Mona Lisa doesn't make you the owner of the painting. Otherwise you could probably question the entire art and collectors world

This said and in my personal opinion, NFT only make sense if something new is created. If it's just a copy of something, it's just that, a copy (think of it like a reprint). It's like buying the cast of a coin instead of the real coin (well, there actually are people collecting casts ).

 

sounds silly to me, someone can get a rare coin book, take a picture of the 1804 dollar, then sell it (digitally) like a kindle book? to someone for 5,000 and?? ok, so they own the picture..i have a bridge to sell...interested?? lol sounds utterly foolish just like bit coins and kindle books....nonsense...it is bad enuf they put real coins in coffins ..especially errors, you buy a tilted collar, but cannot even see it because of the holder?? sillinessthe world is nuts...thanks for clarifying...i think i will stick to the real deal...

 

Philosophy! Fun!

What does the owner of a painting (or coin) have that the rest of us don't have? What does the owner of a NFT image have that the rest of us don't have?

I think the answers are very different. I can have the exact same image the owner of a NFT image has. Exact same. We have the same ability to enjoy the image as an image, in the same form. However, in addition, the owner has his/her name in a ledger somewhere associated with that image and can enjoy knowing his/her name is the one in the ledger and can enjoy the sense of ownership (as far as the name in the ledger gives a feeling of ownership) and the ability to sell that ownership (if they can find a buyer).

The owner of a painting or coin has something physical that cannot be exactly reproduced. Fine reproductions can come close, but required highly skilled work and access to the original. Surely (at least in our culture) there is a more-immediate feeling of ownership if you have an original painting you own on your wall or a genuine coin in your hand.

After the buried army of terra-cotta statues of Chinese warriors was discovered in 1974 I remember reading about the Chinese agreeing to exhibit some in the US and when we found out they were going to send copies of originals and not originals we objected that we didn't want to see copies and (as I recall) the Chinese didn't see that there was a significant difference.

Now I need help to take this further. I solicit the aid of art or coin collectors to extend this discussion to encompass, philosophically, what there is about owning "the real thing" that makes it worth collecting and differentiates it from having an excellent copy. Also, I wonder what the philosophy of NFT ownership is.

 

it is not even a copy, but an "electronic: image of the coin..it makes no sense, common or otherwise...almost like people spending 50,000 for sim charachter or other rpg...