Boolanon on Nostr: because of the way it’s designed; NFTs are simply tokens that point to a jpeg image ...
because of the way it’s designed;
NFTs are simply tokens that point to a jpeg image on a server (usually centralized) so it is neither provably scarce or secure
#Bitcoin scarcity is provable because an energy requirement and unit limitation has been hardcoded into the protocol that can only be changed with mass consensus (90%+)
slapping a jpeg on a scarce asset does not make the jpeg scarce.
Published at
2023-04-22 23:58:56Event JSON
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"pubkey": "e45a0e649b7583610352ee14c946929a074da58fe3d9e38cc8132fe78366af21",
"created_at": 1682207936,
"kind": 1,
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"content": "because of the way it’s designed; \n\nNFTs are simply tokens that point to a jpeg image on a server (usually centralized) so it is neither provably scarce or secure \n\n#Bitcoin scarcity is provable because an energy requirement and unit limitation has been hardcoded into the protocol that can only be changed with mass consensus (90%+)\n\nslapping a jpeg on a scarce asset does not make the jpeg scarce. ",
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