NFTs: A Bitcoiner's Perspective
Non-fungible tokens (NFTs) are becoming a popular way for artists to monetize their content. Recently, many bitcoiners have maligned the model as illigitimate, calling them scams or the like. As someone who attempted the same model with colored coins in 2012, I would have thought bitcoiners would understand why this model not only fits within the ethos of bitcoin, but is very likely to succeed for similar reasons. I believe success in the NFT model only improves the likelihood of mainstream success of bitcoin. Ironically, bitcoin influencers are using the same arguments made against bitcoin to denounce NFTs. Let's examine each of these arguments and how they have been applied to bitcoin in the past. My hope is that this will sway bitcoiners to not write them off as a mere phase akin to ICOs, but as a growing part of the virtual economy and a sign of things to come.
Addressing Technical Concerns
Technical implementations are not the issue
Some bitcoiners take issue wi