minus-square___qwertz___@feddit.orgtoTechnology@lemmy.world•Teen creates memecoin, dumps it, earns $50,000linkfedilinkEnglisharrow-up2·17 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. linkfedilink
minus-square___qwertz___@feddit.orgtoAsk Lemmy@lemmy.world•What's your personal little conspiracy theory?linkfedilinkarrow-up1·3 months agoFair. linkfedilink
minus-square___qwertz___@feddit.orgtoAsk Lemmy@lemmy.world•What's your personal little conspiracy theory?linkfedilinkarrow-up0·3 months agoIf something looks, walks, barks and smells like a dog, chances are, it’s a dog. The world is complicated enough as is, no need to make it more complicated. linkfedilink
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.