shoulderoforion@fedia.io to Technology@lemmy.world · 19 days agoTeen creates memecoin, dumps it, earns $50,000arstechnica.comexternal-linkmessage-square64fedilinkarrow-up134arrow-down11file-text
arrow-up133arrow-down1external-linkTeen creates memecoin, dumps it, earns $50,000arstechnica.comshoulderoforion@fedia.io to Technology@lemmy.world · 19 days agomessage-square64fedilinkfile-text
minus-square___qwertz___@feddit.orglinkfedilinkEnglisharrow-up2·18 days agoMoney is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else. As such, money coined by a state has an inherit value as long as the state is stable.
Money is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else.
As such, money coined by a state has an inherit value as long as the state is stable.