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NFTs Are a Privacy and Security Nightmare

wired.com

6 points by vic_nyc 4 years ago · 2 comments

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rvz 4 years ago

Hardly the most shocking discovery of the century; Sherlock. Furthermore...

> The blockchain isn’t as “anonymous” as you might think.

> That's how crypto works. And for years, it's been too seldom recognized as an issue—in large part because systems like Bitcoin, Ethereum, and other crypto platforms are technically “anonymous.”

...Where in the white-papers of Bitcoin, Ethereum and all the other cryptocurrencies that don't have privacy features such as (i.e, Monero, MobileCoin) said that their blockchains where 'anonymous'? or that the transactions were private?

None of them ever suggested that they were "anonymous" and the author knows it.

Henceforth, that automatically applies to NFTs, which that in itself make zero sense for a social network, or using them as avatars. With such limited use-cases as JPEGs and speculation, 90% of the hype will collapse in the long run.

conradludgate 4 years ago

I believe the issue is more about public perception. Most people who are into crypto aren't going to be super tech literate. I've seen a lot of proponents on twitter claim that eth keeps you safe from the government spying on you

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