Year: 2021

Counterparty – The Bitcoin NFT Standard

As a general token platform, Counterparty is perfectly suited for non-fungible tokens (NFTs). Crypto Token vs Art Token vs NFTBefore we start talking about NFTs it’s essential to clarify what we mean. Art tokens are a subset of crypto tokens. An art token has an on-chain description of the artwork it represents. NFTs are a subset of art tokens. Each non-fungible token must be distinguishable from all other tokens, even […]

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NFT = Autographed Crypto Token

I spent one full day pondering before concluding the best answer is “Neither”. An NFT is essentially an autograph. An Art NFT has the artist’s artwork linked to the token to magnify the value proposition of the autograph. Autograph is more than an analogy to the handwritten original. Crypto in its core is made up of signatures. Every time you spend Bitcoin, Ether, or any other crypto token, you sign […]

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Wikipedia’s NFT Article is Fake

Shortly after OLGA was discovered, this fact was added to the Wikipedia NFT article. The exact text was; A single-unit coin was minted with the name OLGA and the description “One & Only”. It was minted at the following time 2014-06 12T19:19:02:107 GMT. This is the first true NFT ever minted. Sources backing up the claim were also included. Believe it or not, all references to OLGA are now removed […]

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OLGA on The Guide to Early NFTs

Etheria made a spreadsheet of the first NFTs and NFT-like experiments. OLGA is listed as #3 but I am confident it’s actually the first true NFT. Here’s @etheria_feed’s tweet: The first candidate is a Counterparty asset called THING. I don’t think it belongs on this list. It was registered with a quantity of 1,000,000,000 tokens. It does not have a description nor any pointer to artwork. In 2021 all but […]

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The Ambiguity of Quantum’s Ownership

This is a follow-up to my post where I argued that Kevin McCoy’s pre-NFT experiment, however brilliant, was not a real NFT. More information has surfaced which proves my point. It took me a while to verify this claim. The artwork was originally recorded on the Namecoin blockchain but there are not that many Namecoin explorers out there. They are not easy to make sense of either. I did eventually […]

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Why Quantum Is NOT the First NFT

Kevin McCoy’s 2014 art piece Quantum was sold at Sotheby’s for $1,420,000 – presumably as the first NFT ever minted. I do not agree it’s the first NFT. I see several reasons why: It was a name record, not a token, hence not a Non-Fungible Token. It got destroyed. It is forever lost. The auctioned token is a replica, not the original. Before I emphasize my points, here’s the background. […]

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WTF Happened in 1971?

I found a website with economic charts from 1971 until today. The site is simply called wtfhappenedin1971.com. It’s a collection of interesting economic graphs showing the demise of the US (and the West) since that particular year. In case you’re not familiar with the context, watch President Nixon ending the Gold Standard in August of 1971: P.S. Wtfhappenedin1971 is by a bitcoin company called RiverFinancial. I do not know who […]

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How Dominant Is Ethereum?

Are all DeFi tokens listed on Ethereum? I went through the top 100 projects under Coinmarketcap’s DeFi tab and clicked on each one to find their respective platforms. 10 do not have a platform listed. Most likely they have their own chain. 77 are on Ethereum 34 of these are exclusively on Ethereum 36 are on the Binance Smart Chain 9 of these are exclusively on Binance 20 are on […]

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The Daymak Bitcoin Mining Car Is Nonsense

The electric vehicle producer Daymak Avvenire promises bitcoin mining in their upcoming Spiritus Deluxe model. Delivery is estimated for 2023 but you can pre-order it already now. Their campaign states: The Daymak Spiritus will be the first electric car in history to mine cryptocurrency while it is parked, including Bitcoin, Doge, Ethereum, Cardano, and more. This makes no sense! Cardano is not mineable. It uses proof of stake. You need […]

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How To Become a Billionaire Investor

Let’s entertain the idea of becoming a billionaire through investing. How much risk will you need to take? How much capital should you have initially? I will explore two radically different approaches: Compound interest, i.e. above average return year after year Warren Buffet style. Multiple 10x returns without blowing up. Einstein called compound interest the eighth wonder of the world. Even if you achieve a modest 10% annual return over […]

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