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NFTs for dummies

Discussion in 'The Lounge' started by Zou, May 3, 2021.

  1. Zou

    Zou Well-Known Member

    Here is a surprisingly accurate description of what NFTs are:
    Screenshot_20210503-195608.png

    In case you think that's not accurate, check the news of the Basquiat drawing NFT sale.
     
    Geren likes this.
  2. GeoffR

    GeoffR Well-Known Member

    I must be even dumber that I thought, or you are being lazy, what do the letters NFT stand for? In this context.
     
  3. Andrew Flannigan

    Andrew Flannigan Well-Known Member

  4. Zou

    Zou Well-Known Member

    Non fungible token.
     
  5. MJB

    MJB Well-Known Member

    If its non-fungible it can't be an Eastern dish.
     
    Zou and Learning like this.
  6. spinno

    spinno Well-Known Member

    Mushrooms on toast?
     
  7. Zou

    Zou Well-Known Member

    That was a token contribution to this thread. Or is it a block chain?
     
  8. WillieJ

    WillieJ Well-Known Member

    Seems like a pretty accurate explanation to me - although being old fashioned, and lazy, I prefer "the emperor's clothes".
     
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  9. spinno

    spinno Well-Known Member

    Speak English pleaseo_O;)
     
  10. Zou

    Zou Well-Known Member

    Ye ken whit a meen.
     
    Catriona and spinno like this.
  11. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    Although many an astute Scot has proved the truth of "many a mickle maks a muckle" those same Scots would see through the bit coin scam in less time than they could sink a dram!
     
    Catriona likes this.
  12. GeoffR

    GeoffR Well-Known Member

    Might have been appropriate to say that up front.

    Our society uses TLAs on the, mistaken, assumption that everyone will know what they mean. On this forum SLR will probably be taken to mean Single Lens Reflex (camera) but in other circles it means Self Loading Rifle. Shoot people with the former and you may win prizes shoot them with the latter and the result will be very different. Even in the same industry the same abbreviation may have different meanings depending on the manufacturer; EIU in Boeing means EFIS EICAS Interface Unit, in Airbus it means Engine Interface Unit.

    Your explanation is actually rather good but has nothing to do with Near Field Technology (contactless).
     
  13. TimHeath

    TimHeath Well-Known Member

    What are TLAs?
     
  14. spinno

    spinno Well-Known Member

    Thai Loss Adjustors
     
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  15. Geren

    Geren Well-Known Member


    Totally Legit Abbreviations?
     
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  16. spinno

    spinno Well-Known Member

    Tom Lehrer's Apocrypha
     
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  17. Andrew Flannigan

    Andrew Flannigan Well-Known Member

    Totally Lame Advice?
     
  18. Geren

    Geren Well-Known Member

    Surely the fact that the currency is in Etheria (I'm assuming that's the plural of one etherium?) is the most satisfying part of the whole saga?
     
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  19. GeoffR

    GeoffR Well-Known Member

    Well in Boeing TLA = Thrust Lever Angle
    According to many dictionaries TLA = Three Letter Acronym
    Also:
    Telephone Line Adapter
    Technology Licensing Agreement
    Teller, Alaska (Airport Code)
    Timber Laminated Arch (engineering)
    There are many more but this rather illustrates my point that abbreviations are only valid within a specified field, in general conversation they are, often, meaningless.
     
  20. Catriona

    Catriona Well-Known Member

    I think that's still up in the air.
     

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