A Brief Sidebar

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Comic Transcript

A: So if your entirely logical and fairly reasonable explanation of NFTs isn’t actually the way NFTs are being used, how are they actually being used?

B: Well first of all, the kinds of NFTs you keep hearing about these days use the Etherium blockchain, not Bitcoin.

A: Wait, what? Then why did you keep talking about Bitcoin in all your previous examples?

B: Because everyone’s heard of Bitcoin. It’s easier to explain cryptocurrency concepts without also having to explain what Etherium is.

A: Why don’t you just say “if Bitcoin is like a US dollar, Etherium is like the Euro?”

B: Because it’s not — I mean, there’s more to it than — actually, that’s not a bad analogy.

A: While we’re on the subject, what the heck is Dogecoin?

B: Using your analogy, an Emperor Norton Monetary Note.


4 comments

  1. There is a sense in which ALL cryptocurrency is an Emperor Norton Monetary Note. That is, they are “currency” issued by someone who does not back them with assets, armed force, the ability to insist you pay taxes using them, etc., but just sort of says “Pretend they have value, and they will, for a while.”

  2. That’s very true, but the fact that Dogecoin went from being a parody of cryptocurrency to becoming actual cryptocurrency makes it the most Emperor Norton Monetary Note of all.

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