Who’d have thought BoredApe NFTs would be such an actual eyesore?

  • abhibeckert@lemmy.world
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    1 year ago

    blockchain is a technology for implementing scams; NFTs are one specific scam.

    No. Blockchain is a technology where you generate a hash of an event that happened - e.g. garage door opened at 7:00am, and then you hash another event - garage door closed at 7:02am, continue doing that for years, hundreds of thousands of garage door movements, and just by looking at the last hash in the event chain, you can verify, in less than a millisecond, that two copies of the blockchain are identical (e.g. the working data set and a backup copy of it).

    It’s just a simple and efficient data integrity checker and it’s shit for scams - because there’s no way to hide your tracks when the feds investigate you… as Sam Bankman-Fried just learned.

    Pretty soon the scammers will realise they’re better off with cash and paper books which can easily be doctored (or simply misplaced - “sorry your honor, we can’t find records for July 2021 anywhere!”).

    • LemmysMum@lemmy.world
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      1 year ago

      Yep. It’s hard to feel sorry for anyone who got grifted, who knew that buying the equivalent of a graffiti’d up CVS receipt would turn out to be worthless.