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by tatertots1234 1466 days ago
Most of the things that cause these problems, like stolen apes, would not work on Bitcoin as it lacks smart contract functionality.
1 comments
cowtools 1466 days ago
Bitcoin has some scripting[0] functionality, and its non-fungibility[1][2] can facilitate NFT-like colored coins[3][4]

[0] https://en.bitcoin.it/wiki/Script

[1] https://en.bitcoin.it/wiki/Fungibility

[2] https://sethforprivacy.com/posts/fungibility-graveyard/

[3] https://en.wikipedia.org/wiki/Colored_Coins

[4] https://www.youtube.com/watch?v=889JSfIaPzs

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AdrianEGraphene 1466 days ago
Colored coins is one of my #1 favorite topics! The same issue (high fees) that plagued ETH would soon arise if doing "Colored Coins" for NFTs on BTC. Regardless, this could certainly be done. Colored coins was actually one of the 1st concepts that seriously drew my interest to this space.

One might think Lightning Network would be a good solution, but LN is fungible, so that wouldn't work.

Still, colored coins is an awesome concept and I'm planning to help with at least 1 use-case (fingers crossed!) in the next few months.

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tatertots1234 1466 days ago
Theoretically possible but practically impossible, and one of the reasons that NFTs and DeFi will probably never be adopted on Bitcoin L1 unless the protocol changes.
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