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I know it's a scam and I know that people are incredibly stupid on average, but I still cannot believe that somebody would pay for a "unique" garbagecoin that just has a URL or other random data inside of it, and has zero legal/physical/real power.

Are they fooled into believing that they are actually buying the physical thing it "represents"? Why would they pay for it? Why would anyone put any amount of value on such a nonsensical thing?

How is it different from me writing "a super awesome Ferrarri sports car" on a piece of paper and handing it to a little kid, claiming that if they give me all their candy, they can have this piece of paper which means they own an expensive car?

I genuinely can't believe that people pay any amount of money for these worthless things, especially not the insane sums cited over and over again. What am I missing? I must be missing something, because I won't accept "people are stupid" as the answer. Even stupid people have some sort of logic to them, but this just makes no sense at all.

Z M
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When you do a painting, it's a physical object that have a lot or properties by its existence. It cannot be magically duplicated, is unique. You can still to a copy/paste, but it will not be the same. Entropy from your painting cannot be duplicated, even if a ultra high scanner. Event a 1Pb scan from your painting doesn't include all information for every atoms in this painting.

But what about digital art that are, by nature, digital ? They are a computer file at first. So this file can be duplicated.

Are they fooled into believing that they are actually buying the physical thing it "represents"? Why would they pay for it? Why would anyone put any amount of value on such a nonsensical thing?

They doesn't buy the physical thing it represents, they are buying the first digital upload on a blockchain that secure its tracability.

How is it different from me writing "a super awesome Ferrarri sports car" on a piece of paper and handing it to a little kid, claiming that if they give me all their candy, they can have this piece of paper which means they own an expensive car?

You can physically use a car, but not legally own it. If you steal a car you can ride with it, even if it's not yours. This "piece of paper" is provided by a Hight Trusted Entity, such as a governement. Governement can provide this paper because this is their reason of existence.

A blockchain can act as a governement, or as a patent provider for example.

If you are in court for a "Patent trial", and you want to prove you did do the patent before any other. Court are ruled by law, and there is no such thing as proof defined by their nature. They didn't add a law to dictate that a "Timestamped facebook post" is a valide proof of an early concept from a patent. They accept all proof if it's serious enough. Blockchain can provide it as NFT for example, as they are really secure and every data are tracable and you can know for a fact that you did upload a patent X times before anyone else.

user73804
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