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<p>[QUOTE="Severus Alexander, post: 7994721, member: 84744"]I suspect much of this thread is based on a misunderstanding of blockchain. I'm no expert (extremely far from it!) but the value of blockchain seems to be that it makes something impossible to duplicate. That's like having money that's impossible to counterfeit... which lends it a little value on its own. Then there's also a guarantee of limited numbers. In the case of bitcoin, the limitation is imposed by the mining algorithm. In the case of NFTs the numbers are limited much more drastically, sometimes to 1 only; in the case of the OP, to ten only. Finally, due to the distributed nature of blockchain, there's a guarantee of persistence over time. These things can't just disappear because of some glitch somewhere. (So [USER=59677]@Burton Strauss III[/USER]'s concerns are completely misplaced.)</p><p><br /></p><p>Once someone actually places a legitimate (i.e. not deceptive in some way, like buying from yourself) value on one of these absolutely unforgeable, indestructible items of limited supply (say, someone buys one for a hundred bucks) it will tend to retain some of this value based on the special characteristics of blockchain. The trick is getting people to buy some in the first place. No doubt many NFTs will stay at value zero forever, just like many cryptocurrencies will never take off. But real value is generated when enough people agree to value the thing.</p><p><br /></p><p>So the OP coin isn't really a collector's item. It's a unit of cryptocurrency. At least that's my beginner's conclusion... would be very happy to be corrected/enlightened by someone who actually knows about this stuff!</p><p><br /></p><p>Still, I prefer itty bitty coins to bitcoin. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie8" alt=":D" unselectable="on" unselectable="on" /></p><p>[ATTACH=full]1386887[/ATTACH]</p><p>Athens tetartemorion, c. 393-294 BCE, 0.17g and 5mm - one of the last holdouts of the move from silver to AE token coinage. Token coinage which enough people decided to value...[/QUOTE]</p><p><br /></p>
[QUOTE="Severus Alexander, post: 7994721, member: 84744"]I suspect much of this thread is based on a misunderstanding of blockchain. I'm no expert (extremely far from it!) but the value of blockchain seems to be that it makes something impossible to duplicate. That's like having money that's impossible to counterfeit... which lends it a little value on its own. Then there's also a guarantee of limited numbers. In the case of bitcoin, the limitation is imposed by the mining algorithm. In the case of NFTs the numbers are limited much more drastically, sometimes to 1 only; in the case of the OP, to ten only. Finally, due to the distributed nature of blockchain, there's a guarantee of persistence over time. These things can't just disappear because of some glitch somewhere. (So [USER=59677]@Burton Strauss III[/USER]'s concerns are completely misplaced.) Once someone actually places a legitimate (i.e. not deceptive in some way, like buying from yourself) value on one of these absolutely unforgeable, indestructible items of limited supply (say, someone buys one for a hundred bucks) it will tend to retain some of this value based on the special characteristics of blockchain. The trick is getting people to buy some in the first place. No doubt many NFTs will stay at value zero forever, just like many cryptocurrencies will never take off. But real value is generated when enough people agree to value the thing. So the OP coin isn't really a collector's item. It's a unit of cryptocurrency. At least that's my beginner's conclusion... would be very happy to be corrected/enlightened by someone who actually knows about this stuff! Still, I prefer itty bitty coins to bitcoin. :D [ATTACH=full]1386887[/ATTACH] Athens tetartemorion, c. 393-294 BCE, 0.17g and 5mm - one of the last holdouts of the move from silver to AE token coinage. Token coinage which enough people decided to value...[/QUOTE]
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