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Comment by newdeveloper1 | Hacker News Reader

But do NFTs actually have properties that solve any of these alleged problems?

> school library reserved room token

Like, reserving a room at a library... is this really a problem for which the best solution is writing immutable code to a blockchain and exchanging tokens on a centralized platform that incurs tons of money in gas fees? Is that truly better than... a volunteer employee at the front desk trading you a conference room key for your driver's license? I feel like if this is the end all be all example of the power of NFTs, it's a clear admission that the tech is kinda worthless?

What am I missing?

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You're missing that the chain is already essentially ubiquitous for those that this is an important topic to,

to the point where large institutions are betting millions and billions on being a layer-2 player on it.

& if Ethereum isn't the "winner" at the "end", it'll be an Ethereum Virtual Machine compatible implementation.

So your point isn't that it's a good solution to any problem, but that it's ubiquitous. Unfortunately, I think you're right. Hopefully we solve that library-conference-room problem soon!

Ubiquitous to people who want to force people into getting grifted.

How much does swiping your MasterCard or Visa add to the cost of your daily purchases, on average, would you guess without looking it up?

Somewhere between 0 and 3%, but that doesn't account for the added value of my life savings not being wiped away if I accidentally misplace my credit card or it gets cloned.

My point is that,

like the "networking system that interoperates between all devices in the world", Ethereum is the next "agreed upon" frontier that can enable all of these things,

already is,

and that you may be lacking imagination as to what it could offer us to have that consensus.

A global, public, decentralized enough (not controlled by one nation-state or group, for better or for worse) settlement layer.

Why are MasterCard and Visa looking to settle on it if it's just me looking to solve the library room thing, like an egg looking for its chicken?

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