@SethCotlar A digital pointer that holds information about an asset that exists somewhere else, and whose “ownership” is tracked by a big network of other computers.
@SethCotlar That’s the technical part; the complexity and stupidity is in what happens based on that, and the unfounded assumptions that get layered on top of the technical baseline.
@SethCotlar Like: Some people pay money to other people to get them to announce a “transfer of ownership” for a given token on that big network… and assume that means they own the thing the token “points” at. It’s a bit like “owning” the bit.ly link to a NYT article.
@SethCotlar Without an additional layer of actual legal promises and contracts and agreements in the “real world” it’s just a very, very expensive way to trade URLs. And in almost all cases that layer doesn’t exist. It’s just URLs as Tulip speculation.
@SethCotlar Sorry, that went way over one tweet :D
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