while reading all comments and usefulness.. im also trying to find solutions to the ability to make duplicates.
so lets say that there was a new version of zip encryption that could lock data inside. the main password was the privkey, and the zip program generated a thumbnail if someone entered the publickey.
so now the privkey is obviously of the address that contains the coloured coin. and anyone in the world can have a copy of the zipped up file and know the coloured coin public address. to verify it as being real and valid, by seeing a thumbnail using the public address of the coloured coin
the owner can write a signed message (as he is the only one with the privkey) to show he is the owner of the privkey and ultimately the only one with access to the true high quality 'print'.
ok i think im on the same page as cbeast...
so the owner using the privkey can sign messages announcing the sell of the art and include an auction site or email to contact him for the sell)
in a ethical world that cbeast wants the art world to be. once the buyer hands him the bitcoin. the owner gives the buyer the privkey. now the new owner, can make a new privkey, move the coloured coin from old address to the new address and rezip the image under his new privkey, announcing that all he now has control of the coloured coin.
even if millions of copies of the zip file spread the planet. all people would have access to is the thumbnail
now then....
whats stopping the old owner from then giving away the original privkey to 1000 people so they can open version one zipfile (old password) that have thousands of version1 copies around the internet, thus giving everyone access to the high quality image.
I'm not talking about that at all, but I'm glad you are brainstorming. I'm not against the idea, but I'm not a security expert.
whats stopping the owner from not selling the privkey to just one person but to 20 people simultaneously, knowing it will take 10 minutes for the coloured coin to move. giving him a nice 10 mile head start with 20 peoples money. simply because he didnt want to sell it to just one. i know in the end only 1 person will have the privkey for the coloured coin.
Use escrow.
but in both scenario's unlike canvass painting. if 20, 1000 or millions people have a high quality image.. they dont care about the coin.. thus making the coin useless..
This is a moral question. Do you donate to shareware? Again for the third time, I'm not trying to defend copyright. The coin gives you bragging rights. It is a collectible. If an art piece ever becomes legendary, people might value the coins.
....
i think cbeast is trying to make it that the coin is the true value of the digital art.. but once people have the image in a quality resolution they want, the coin is useless and valueless to everyone. and yes a few people may b butt hurt that the first owner scammed them..
but how would you stop it!
It's art speculation in the digital age.