>> (p.1)
    Author Topic: NFTs on Bitcoin?  (Read 210 times)

    • zrixes (OP)
    Newbie
    *
    Offline Offline

    Activity: 13
    Merit: 1


    View Profile WWW
    March 27, 2021, 07:43:23 AM
     #1
    Given the recent NFTs hype, was wondering if we should get NFTs onto Bitcoin. Given that Bitcoin is the KING in the industry and the most secure network, shouldn't we be able to secure NFTs using Bitcoin's security?

    Just written an article arguing for the case that NFTs on Bitcoin should be relooked at, and certainly will bring the NFTs industry forward with Bitcoin onboard.
    • Most secure network
    • Most well-established network effects
    • Capital Pool of ~USD 1trillion.
    http://ethan-tan.com/

  • best123
    Jr. Member
    *
    Offline Offline

    Activity: 644
    Merit: 1

    https://blockmembers.io/


    View Profile
    March 27, 2021, 08:36:19 AM
     #2
    That will be awesome, having NFTs on Bitcoin blockchain. Maybe in the near future, we will have it.
    Truly, NFTs are rocking the Cryptocurrency space right. I have being thinking of how to benefit from it.

  • Bilgent
    Member
    **
    Offline Offline

    Activity: 518
    Merit: 13


    View Profile
    March 27, 2021, 10:17:03 AM
     #3
    Quote from: zrixes on March 27, 2021, 07:43:23 AM
    Given the recent NFTs hype, was wondering if we should get NFTs onto Bitcoin. Given that Bitcoin is the KING in the industry and the most secure network, shouldn't we be able to secure NFTs using Bitcoin's security?

    Just written an article arguing for the case that NFTs on Bitcoin should be relooked at, and certainly will bring the NFTs industry forward with Bitcoin onboard.
    • Most secure network
    • Most well-established network effects
    • Capital Pool of ~USD 1trillion.

    I think this NFT hype will end after some time. I have been hearing some news about people buying the NFT version of works of art at a much higher price than the value of their original version. It seems really insane to me. Why would I want to pay such amount of money and buy NFTs instead of the original ones? I don't know maybe I'm thinking in an old-fashioned way.  Grin
    ██   ▀▀▀▀▀▀▀▀▀▀▀▀▀ ▀   ▄       BYBIT │ reddit       ▄   ▀ ▀▀▀▀▀▀▀▀▀▀▀▀▀   ██
    ►   Sports & Derivatives Trading     ►   Mobile App for iPhone & Android
    ►   24/7 Customer Support     ►   NFT Marketplace     ►   Launchpad/Launchpool

  • FIFA worldcup
    Full Member
    ***
    Offline Offline

    Activity: 1134
    Merit: 105


    View Profile WWW
    March 27, 2021, 10:51:31 AM
     #4
    Quote from: zrixes on March 27, 2021, 07:43:23 AM
    Given the recent NFTs hype, was wondering if we should get NFTs onto Bitcoin. Given that Bitcoin is the KING in the industry and the most secure network, shouldn't we be able to secure NFTs using Bitcoin's security?


    Since there are no smart contracts in bitcoin blockchain, does it mean that bitcoin needs to be forked in order to get the NFT on bitcoin blockchain ?
    If that is the solution than i think we don't need NFT on bitcoin blockchain.

  • Tytanowy Janusz
    Legendary
    *
    Offline Offline

    Activity: 2282
    Merit: 1664


    Top-tier crypto casino and sportsbook


    View Profile
    March 27, 2021, 11:39:52 AM
     #5
    Bitcoin is not scalable enough to hold more load. Bitcoin should remain as digital gold. Thats enough to push its adoption and price higher and higher. Bitcoin does not need hyped technologies that will only clog the network.

    Let ETH to be a smart contract chain for rich people focused on decentralization and BSC a smart contract chain for people focused more on cheap prices. We dont need anything else. We dont need bitcoin to be a "everything coins"
     BETFURY .....██████▄██▄███████████▄█▄
    █████▄██████▄████▄▄▄█████
    ██████████████████████████
    ████▐█████████████████████
    ███████████▀▀█▄▄▄▄█████████
    ██▄███████▄▀███▀█▀▀█▄▄█▄█▄██
    █▀██████████▄█████▄▄█████▀███
    ██████████▄████▀██▄▀▀█▀█████▄
    ███████████████▐█▄█▀▄███▀█▀██▄
    ███████▄▄▄███▌▌██▄▀█▀█████████▄
    ▀▀▀███████████▌██▀▀▀▀▀█▄▄▄████▀
    ███████▀▀██████▄▄██▄▄▄█▄███▀▀
    ████████████▀▀▀██████████▀
    		 
    ..... SPIN FREE FURY WHEEL WIN 1 BTC! │BONUS UP TO 590% + 225 FS .....    		█▀▀
    █
    █
    █
    █
    █
    █
    █
    █
    █
    █
    █
    █▄▄
    USE CODE: BTSPIN
     
    .GET 50 FREE SPINS!.
    ▀▀█
    █
    █
    █
    █
    █
    █
    █
    █
    █
    █
    █
    ▄▄█

  • tbone777
    Jr. Member
    *
    Offline Offline

    Activity: 73
    Merit: 1


    View Profile
    March 27, 2021, 12:01:45 PM
     #6
    We already have more than enough networks for NFTs, please, stop

  • kryptqnick
    Legendary
    *
    Offline Offline

    Activity: 3556
    Merit: 1409


    Join the world-leading crypto sportsbook NOW!


    View Profile
    March 27, 2021, 12:34:06 PM
     #7
    Bitcoin is already overhyped and there are problems with transaction fees. I think Ethereum is a perfect platform for NFTs because it's more flexible than Bitcoin and is very useful for smart contracts. So no wonder that ICOs in 2017 and NFTs nowadays turn to Ethereum because that's what this platform is good for. I don't really get how NFTs became so popular and why people are willing to pay so much money just to be able to say that they're owners of some digital art. However, it's a good way to support gifted creators, and it's an unexpected use case of blockchain technology, so I don't mind them. Ethereum is a platform for smart contracts, Bitcoin is a crypto you can pay with or store your wealth in.
    .
    .Sportsbet.io...F U N  │  F A S T  │  F A I R..    		██████
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██████
           ▄███▀   ▄████▀
        ▄███▀   ▄████▀
      ▄███▀   ▄████▀
    ▄███▀   ▄████▀
    ▀███▀▀▄████▀
      ▀  ▄████▀
         █████▄▄▄▄▄▄
          ▀█████▀▀
            ▀▀▀
     
    █    ██  █   █ ▄▀▀▄  ██
    █   ▐▌▐▌ █   █ █ ▄▄ ▐▌▐▌
    ▀▄▄ █▀▀█ ▀▄▄ █ ▀▄▄▀ █▀▀█
    ▄▄▄
    ██████
    ████████
    ██████████
    ████████████
    ██▀██▀▀▀▀▀▀▀▀▀
    █░░▀░░░▄▄█░░░░
    ░░░░░░░░░░░    ▀█▌  ▐██
    █░░▄░░▄█▀▀▀░░█░░▐███
    ██▄▄█▄▄█▄▄▄▄▄██▄▄█████
    ████████████████████████
    ████████████████████████
    ▀▀██████████████████▀▀
    		| 
    Official Partner of
    LA LIGA
    WORLD SNOOKER TOUR
    ██████
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██
    ██████

  • Cointxz
    Copper Member
    Legendary
    *
    Offline Offline

    Activity: 3234
    Merit: 1267


    Leading Crypto Sports Betting & Casino Platform


    View Profile WWW
    March 27, 2021, 12:36:54 PM
     #8
    Quote from: zrixes on March 27, 2021, 07:43:23 AM
    Given the recent NFTs hype, was wondering if we should get NFTs onto Bitcoin. Given that Bitcoin is the KING in the industry and the most secure network, shouldn't we be able to secure NFTs using Bitcoin's security?

    Just written an article arguing for the case that NFTs on Bitcoin should be relooked at, and certainly will bring the NFTs industry forward with Bitcoin onboard.
    • Most secure network
    • Most well-established network effects
    • Capital Pool of ~USD 1trillion.

    This will be a big disaster incase NFT was launched on Bitcoin blockchain. It will cost too much traffic that will result on bloating pending transaction. BTC can't handle the current transaction volume and adding some source of huge transaction will make Bitcoin really slow down. Just like what happened on Ethereum when Crypto kitty was newly launched.
    ..Stake.com..   ▄████████████████████████████████████▄
       ██ ▄▄▄▄▄▄▄▄▄▄            ▄▄▄▄▄▄▄▄▄▄ ██  ▄████▄
       ██ ▀▀▀▀▀▀▀▀▀▀ ██████████ ▀▀▀▀▀▀▀▀▀▀ ██  ██████
       ██ ██████████ ██      ██ ██████████ ██   ▀██▀
       ██ ██      ██ ██████  ██ ██      ██ ██    ██
       ██ ██████  ██ █████  ███ ██████  ██ ████▄ ██
       ██ █████  ███ ████  ████ █████  ███ ████████
       ██ ████  ████ ██████████ ████  ████ ████▀
       ██ ██████████ ▄▄▄▄▄▄▄▄▄▄ ██████████ ██
       ██            ▀▀▀▀▀▀▀▀▀▀            ██ 
       ▀█████████▀ ▄████████████▄ ▀█████████▀
      ▄▄▄▄▄▄▄▄▄▄▄▄███  ██  ██  ███▄▄▄▄▄▄▄▄▄▄▄▄
     ██████████████████████████████████████████    		▄▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄
    █  ▄▀▄             █▀▀█▀▄▄
    █  █▀█             █  ▐  ▐▌
    █       ▄██▄       █  ▌  █
    █     ▄██████▄     █  ▌ ▐▌
    █    ██████████    █ ▐  █
    █   ▐██████████▌   █ ▐ ▐▌
    █    ▀▀██████▀▀    █ ▌ █
    █     ▄▄▄██▄▄▄     █ ▌▐▌
    █                  █▐ █
    █                  █▐▐▌
    █                  █▐█
    ▀▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▀█
    ▄▄█████████▄▄
    ▄██▀▀▀▀█████▀▀▀▀██▄
    ▄█▀       ▐█▌       ▀█▄
    ██         ▐█▌         ██
    ████▄     ▄█████▄     ▄████
    ████████▄███████████▄████████
    ███▀    █████████████    ▀███
    ██       ███████████       ██
    ▀█▄       █████████       ▄█▀
    ▀█▄    ▄██▀▀▀▀▀▀▀██▄  ▄▄▄█▀
    ▀███████         ███████▀
    ▀█████▄       ▄█████▀
    ▀▀▀███▄▄▄███▀▀▀
    		..PLAY NOW..

  • Bitcoinislife09
    Full Member
    ***
    Offline Offline

    Activity: 1028
    Merit: 144

    Diamond Hands 💎HODL


    View Profile
    March 27, 2021, 01:32:33 PM
     #9
    Quote from: zrixes on March 27, 2021, 07:43:23 AM
    Given the recent NFTs hype, was wondering if we should get NFTs onto Bitcoin. Given that Bitcoin is the KING in the industry and the most secure network, shouldn't we be able to secure NFTs using Bitcoin's security?

    Just written an article arguing for the case that NFTs on Bitcoin should be relooked at, and certainly will bring the NFTs industry forward with Bitcoin onboard.
    • Most secure network
    • Most well-established network effects
    • Capital Pool of ~USD 1trillion.

    I don't think it's necessary and I don't think it is a good thing because NFT's are just full of hype these days and something like art that we don't really know if it has its value, most of the time people are just assuming a higher value in NFT's even though when it started to a low market value. You know the reality when it comes to these NFT's and I don't think bitcoin needs something like these, we don't know if this trend is going to continue in the future but there will be millions of NFT's and that is going to divide the market that will surely end this NFT's trend. Buying an art will probably 15$ and then selling for 300$ is just ridiculous and there are some art work that is obviously not work that much that is selling for even more.

  • bolawin
    Copper Member
    Jr. Member
    *
    Offline Offline

    Activity: 246
    Merit: 7

    buy bitcoin, hodl bitcoin


    View Profile
    March 27, 2021, 03:39:36 PM
     #10
    i want to sell my first tweet, if anyone interested accept dogecoin
    buy bitcoin, hodl bitcoin

  • hatshepsut93
    Legendary
    *
    Offline Offline

    Activity: 3052
    Merit: 2166


    View Profile
    March 27, 2021, 03:55:37 PM
     #11
    Technology for running tokens on Bitcoin's blockchain has existed for years, Counterparty (XCP) is one such example. You could probably use it for NFT even now, just create a token with supply of 1.

    But what's the point? NFT is just a hype, it's not a promising new technology that will change the world.

  • int03h
    Full Member
    ***
    Offline Offline

    Activity: 532
    Merit: 104


    View Profile
    March 27, 2021, 05:27:05 PM
     #12
    Bitcoin has no smart contract implementation and each block only holds 1MB max so NFT is not viable. Bitcoin is Bitcoin and it is always the original chain. If you want to implement smart contracts on Bitcoin, you need to fork and create another Bitcoin.

  • Lmaooo
    Full Member
    ***
    Offline Offline

    Activity: 694
    Merit: 108


    santacoin.io


    View Profile
    March 27, 2021, 05:28:39 PM
     #13
    Minting Non-Fungible Tokens NFTs on the bitcoin blockchain is going to be huge. But the ethereum community will not be happy about it because the bitcoin NFT will steal the show. The ethereum developers will be calling NFT developers on bitcoin copycats (they are very good at it). Also, NFTs on the bitcoin blockchain will lead to more congestion on the bitcoin blockchain, which leads to slow transactions and paying higher fees.  

  • seoincorporation
    Legendary
    *
    Offline Offline

    Activity: 3584
    Merit: 3287


    View Profile
    March 27, 2021, 05:30:59 PM
    Last edit: March 27, 2021, 05:42:40 PM by seoincorporation
     #14
    The problem with this idea is the smart contracts, without smart contracts you can't attach any digital source to a transaction. As the name says 'Non fungible token' it's based on a token, so if you can't make tokens with bitcoin then you can't take the NFTs to bitcoin.

    Another problem with the idea is the cost. to register any NFT with a coin you need to make a transaction, and transactions with bitcoins aren't cheap at all.

  • bL4nkcode
    Copper Member
    Legendary
    *
    Offline Offline

    Activity: 2142
    Merit: 1308


    Limited in number. Limitless in potential.


    View Profile
    March 27, 2021, 06:08:14 PM
     #15
    Bitcoin is not a token, so it NFT~oken doesn't not fit to bitcoin.

    Bitcoin is bitcoin, let it do its thing, while ETH can do such stuffs for NFTs. And with the design of bitcoin transfer time it will congest more the network. So its a useless proposal to bitcoin development.

  • odolvlobo
    Legendary
    *
    Offline Offline

    Activity: 4746
    Merit: 3646



    View Profile
    March 27, 2021, 06:18:23 PM
     #16
    Quote from: seoincorporation on March 27, 2021, 05:30:59 PM
    Another problem with the idea is the cost. to register any NFT with a coin you need to make a transaction, and transactions with bitcoins aren't cheap at all.

    Bitcoin transactions are currently cheaper than Ethereum transactions.

    Average Ethereum Fee: $15.62
    Average Bitcoin Fee: $13.57

    Source: https://ycharts.com
    Join an anti-signature campaign: Click ignore on the members of signature campaigns.
    PGP Fingerprint: 6B6BC26599EC24EF7E29A405EAF050539D0B2925 Signing address: 13GAVJo8YaAuenj6keiEykwxWUZ7jMoSLt

  • (o)(o)ilikeboobs(o)(o)
    Full Member
    ***
    Offline Offline

    Activity: 826
    Merit: 105


    View Profile
    March 27, 2021, 06:45:00 PM
     #17
    This cannot happen because Bitcoin cannot implement smart contracts. Next thing Bitcoin is not scalable and possibly congested at any moment. Bitcoin technology is old and not as good as being decentralized.

  • verita1
    Member
    **
    Offline Offline

    Activity: 1358
    Merit: 81


    View Profile
    March 27, 2021, 07:12:41 PM
     #18
    In recent days I found information about Stack on Twitter and I said to myself although we did not notice it, there are developers who are working to make bitcoin more usable. We just need time to know the progress

    Quote
    Stacks is an open-source network of decentralized apps and smart contracts built on Bitcoin. Stacks unleashes Bitcoin’s full potential as a programmable base layer.

    https://www.stacks.co/what-is-stacks

    Here we have Muneeb the founder of Stack who says in a tweet the following about Smart contracts for bitcoin so I think we will start to know about NFT in Bitcoin.

    Quote
    9 Next time someone tells you Bitcoin doesn’t have smart contracts, send them to Staking club and ask them how is $ 440M capital locked earning 21% BTC yield then? There is no company behind this, it’s a Clarity smart contract.

    https://twitter.com/muneeb/status/1373017944209375233?s=19

  • DLin
    Newbie
    *
    Offline Offline

    Activity: 6
    Merit: 0


    View Profile
    March 27, 2021, 07:27:43 PM
     #19
    Hmm don't believe this makes sense as fees would be as huge as on ETH. Plus NFT craze will be over in few months, therefore the largest share of the NFT craze will go through BSC. Cant believe any other scenario is possiible. Any thoughts on that?

  • mazdafunsun
    Full Member
    ***
    Offline Offline

    Activity: 490
    Merit: 123



    View Profile
    March 27, 2021, 07:30:58 PM
     #20
    Quote from: Bilgent on March 27, 2021, 10:17:03 AM

    I think this NFT hype will end after some time. I have been hearing some news about people buying the NFT version of works of art at a much higher price than the value of their original version. It seems really insane to me. Why would I want to pay such amount of money and buy NFTs instead of the original ones? I don't know maybe I'm thinking in an old-fashioned way.  Grin

    Most likely they wont end or just disappear, think of the '' first tweet'' in this digital world we live in, it is an etalon and interesting thing to own. Very valuable as well, NFT makes something recently impossible possible, you can own digital property absolutely . These NFTs possible are overpriced , that i can agree with.
    Pages: [1] 2 »  All
      Print  
Page 1
Viewing Page: 1

IRLBTC™ © 2025 IRLBTC.com