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Comment by singold | Hacker News Reader

What I dont understand is what stops you from minting the same thing on multiple NFT blockchains and why is it any diferent than something centralized, and thats why I dont like all the NFT hype

(I may be dumb and dont get what NFTs really are)

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There is nothing that stops you from making the same NFT on multiple blockchains. Even within the same blockchain there is nothing that stops you from creating a new NFT with the same NFT payload. NFTs are only unique in the same blockchain within the same smart contract. Which is a very narrow definition of unique.

You've understood perfectly well. The confusion stems from thinking others have the same level of understanding.

Yeah I’m confused about this as well. Especially since tons of NFTs are images, couldn’t you just change 1 pixel to change the hash and make a new NFT?

What's stopping you from taking a picture of a painting and hanging the painting in your house?

There's nothing stopping you, but your print is worthless and the original is valuable.

The fact that the NFTs use the ETH blockchain makes it decentralized. A single authority issuing NFTs would be centralized.

I understand the decentralized nature of the blockchain, but couldnt I mint the same painting on multiple blockchains?

I'm not an expert, but I can see the value on cryptocurrencies and ETH and all the smart contract tech. But I can't see the same value on NFTs, as more than speculation.

Because the NFT is only as good as the blockchain it was minted on. The vast majority of (valuable) NFTs are minted on Ethereum. If someone mints the same NFT on Flow for example, it won't be as valuable because it's a copy (verifiably so) and it's secured by a centralized chain. NFTs are supposed to live on as if they were physical objects, so minting an NFT on a centralized chain has a significant risk of not existing in the future.

Right, and Ethereum is effectively centralized https://web.archive.org/web/20201214170136if_/https://www.re...

You can't be serious with that link? That entire subreddit was run by one person who clearly had a mental health disorder. I remember that person very well.

edit: I'm not arguing every single point here because a lot of them aren't even relevant anymore, and frankly I just don't care enough to go through them with you. I'm not trying to win an argument. The information is freely available for all to see and people can do their own due diligence

That's not an argument against their points

Edit reply: you actually don't have any argument, I guess then why post? Ad hominem isn't very useful nor informative, especially without any citations

I get the difference between different blockchains, but what I can't see is what value I get when I buy an NFT. As I see it I only get the brag rights of "owning" something on some blockchain and the posibility of reselling that right.

But I may be missing something

It takes a particular kind of person to buy an expensive NFT. It's just not for you it sounds like. But yeah, you get the bragging rights and you own the asset through your private key. A lot of the "crypto OGs" own some of the more expensive NFTs like the cryptopunks and they use these assets to show off essentially.

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