There needs to be a system already in place that is capable of individually identifying each token as unique. But its not even a token to begin with, because there is no smart contract or protocol guided by an enforceable set of rules to define its properties or move it with.

For example, if I mint myself a Bored Ape using my own contract, just copying the original contract, it won't magically be added to OpenSea's collection of Bored Apes with all the others. This is because Bored Apes have individually defined properties assigned to them through their particular contract.

People had been embedding image-related data in Dogecoin OP_RETURN transactions years prior but nobody ever claimed them to be NFTs. By Feb 2014, there had already been quite a few images put on the Bitcoin blockchain this way:

http://www.righto.com/2014/02/ascii-bernanke-wikileaks-photographs.html

However, since they lack a means of transfer, they are not tokens.

Good question. I like Counterparty more because it is simply a protocol that reads extra data in Bitcoin transactions, as opposed to Stacks which is its own blockchain that interfaces with Bitcoin. All Counterparty txs occur as BTC txs, so it seems to be "purer" from my point of view, which also includes Bitcoin being the gold standard network for NFTs. Meaning, if you want your NFT to have a good shot at lasting "forever," Bitcoin is the best chain to mint it on. And might as well do it with Counterparty as it is 100% on-chain.

What inevitable360 "made" isn't actually an NFT -- its simply an image hash embedded in the OP_RETURN field of a Dogecoin transaction, which is actually the field Counterparty (and Dogeparty) uses for its transaction data. The main difference is Counterparty/Dogeparty data is encrypted and interpreted by a protocol run by a node.

A while back I actually recreated his transaction and sent it to myself and to him as well, so now there are 3 copies of his "NFT" out there.  

You can verify it by checking the content of the OP_RETURN field as shown in the block explorer in each transaction.

(which is funny because you're not supposed to be able to "copy" an NFT -- that's one of the things that makes it an NFT -- nevermind the fact he never actually built a protocol that transfers it)


So yeah, the tech behind Counterparty has been quietly brilliant for over 8 years now. Its what has allowed Rare Pepes to have such huge success, as well as Spells of Genesis and several later projects. Its pretty much tamper-proof as there is no way to trick the protocol into copying tokens or giving you other peoples' tokens.

There's a pretty strong scene of artists in Counterparty at the moment. Dogeparty lags in this department, but also has its own scene, albeit much smaller.

Feels like we're going in circles now as you continue to insist the token isn't the product.


Just as with the price of bitcoin, it doesn't matter what you or I see its value as so much as what the market sees it as.

I tried to help you get a glimpse of where this comes from, that's about all I can do.

Thanks for the response. It is enlightening to get some insight on these issues from an actual developer.

I had trouble wrapping my head around the idea that "tokens that can expire" at first, and there remains debate as to whether re-registered assets are the same entity as the pre-expired one (with compelling arguments on both sides). But your assessment gives me the final push of conviction I needed to accept them as NFTs.

It is unfortunately true that there is a shystery element that is attached to much of NFT salesmanship. Funny how nobody re-registering or buying these early domains has plans to make websites for them. You probably heard the story of the owner of d/bitcoin refusing a multi-million dollar offer for it.

On the upside, the whole "Historical NFT" movement has brought a lot more attention to Namecoin.

In any case, thanks for your continued dedication to keeping this project moving, and to domob as well. Realized earlier today I've been commenting in this thread since 2014. Looking forward to trying out the new version of Core.

In addition to selling plenty of image tokens, I've sold thousands of tokens without an image at all -- simply based on the name of the token and its mint date, which cannot be changed. That's because the token is the product.

You're simply incorrect in continuing to insist that "the data can normally change" for all NFTs. For some, yes. There's an entire blockchain whose NFT-associated data is stored in IPFS -- these entries are immutable and cannot be changed. Separately, once an image hash is created, it can and will only correspond with the particular image from which it was created. Transferring ownership of a token's metadata to a burn address assures that metadata cannot be changed, and again, this is different than transferring the token itself.

The private key is what you need to move the NFT. There is no private key for a baseball card, just there is no private key for a dollar bill. The analogy is more like minting a counterfeit Bored Ape. If you know what to look for it's easy to tell its a counterfeit, but you can still try to sell it, and nobody can stop you (without the involvement of some kind of authorities).

I don't even know what an "unlicensed identifier" means... All bitcoins in existence are "unlicensed." They just are. They require no license to exist.

Please read before responding:

https://jpjanssen.com/8-reasons-olga-is-worth-%E2%82%BF88/

It's a token that does not point at an external image file, and nothing about its inherent properties that make it valuable to collectors can be altered. Now, he might not get 88 BTC for it, but it is nevertheless worth big bucks as a highly-desirable crypto collectible, independent of your personal opinion of its value.



https://fullycrypto.com/hal-finney-1993-email-foresaw-nfts

OK I located your earlier registration and have added you to the spreadsheet.

Video & Blog Campaign is Now Closed.

Twitter campaign is full.

Thank You.

The NFT is the product.

If I transfer ownership of the metadata to a burn address (which can be done independent of sending the corresponding NFT to a burn address), that data cannot be altered. You can also make counterfeit baseball cards and sell those without permission.

You want to control the definition of what "tangible benefits" entail, and I'm not about to bother arguing with you about that. Your arguments against NFTs are the same ones that no-coiners have been making against bitcoin for years.

Nearly every quality of a baseball card you just mentioned can be recreated digitally, and applies to the fundamental properties of cryptocurrency.

- nobody can take your NFT if you are the only one who holds the private key for the address at which it is stored, and you are the only one who can move it (other people can still view it; dunno how you "play" with sportscards)

- NFT metadata can be permanently locked so it can't be altered, and there are certainly ways to figure out if it is still editable.

- perhaps most importantly, nobody can alter or forge the blockchain transactions of an NFT as they apply to its mint date and ownership history.

There's a multi-hundred-million dollar industry that revolves around crypto collectibles. People value them regardless of whether or not they provide "tangible benefits."

Some of my favorite haters are people between 20 and 50 who say "It's too complicated to use."

Bruh, you've had 10 years to start figuring it out.



(first couple years don't really count)

I'm just seeing this thread now for the first time.

After doing NFT-related stuff for the last 8 months, I can tell you that some are absolutely positioned to be great long-term investments, macro-economic factors aside.

However, 99.999% of all NFTs will not be worth anything in the long-term.

How do you know which ones are good long-term investments?

I invite all who are interested to come check out my Historical NFT thread to learn for yourself.

Yep, I also agree with this... good thinking.

Shitcoin 3.0 is not a new token, its almost 8 years old!

Look at the name of your ticker    we should probably form a partnership   



This was undeniably one of the best memes to come out of crypto in the last year.

Yep, I am also in favor of both of these items and I abstain on the PPR vote.


Pretty funny how it worked out that way... Feels like it could certainly happen again this season. Way more fun than the opposite.

OK added to the spreadsheet.


Well, that's a shame. Yes I will credit your stakes at the end of the bounty period. Thanks for letting me know.


Accepted.


OK I saw your registration post and added you to the spreadsheet.

---

Bro you're continuing on with this charade that you're having an actual conversation about this shitcoin? Does that actually drive any sort of meaningful sales? You're way far off-topic in your own thread. If you want to buy a real shitcoin buy Shitcoin. The details are in my signature. Or you could buy Squid Games I suppose.

Yes, most of the NFTs in the price infographic are illiquid. No doubt about it. Only way to make them "liquid" is to put in a sell offer significantly below the price floor. Or a buy offer significantly above price floor.




There likely is some of that in the NFT world in general, but not these. People that buy historical NFTs are either serious collectors, or serious flippers, or both.

---

POV: you waited too long to collect some decent historicals at low prices, and now the bull run has started again



Q: But where do I start?

A: I will break it down for you in my next post.

Here's some free alpha in the meanwhile:

1. Download the Counterparty Freewallet,
2. buy some XCP from a Dispenser, and
3. search the Exchange markets for deals on Rare Pepes.

I actually could care less about most new NFTs. 99.99% of everything on Ethereum for example. Old NFTs won't die. They are collectors items. You understand that old sports cards have value, right? Same deal with old NFTs. They are scarce, non-fungible, and made when nobody really cared.

To call NFTs "proven worthless" just reflects utter disregard for reality. All you need to do is visit OpenSea to be proven wrong. If people pay money for them, they are not worthless, independent of your personal opinion.

This week we are sending a Dogecoin NFT prize to 3 Twitter bounty participants:




Winners will receive a DOGEWIKI, a Dogeparty card from the official Rare Doge project.



Winners will be contacted via PM to confirm they have provided a Dogewallet address.