629
Hackers steal NFTs worth millions. In other news, NFTs worth millions.
(www.theblock.co)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 17 Dec 2023
629 points (95.6% liked)
Technology
60148 readers
2876 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 2 years ago
MODERATORS
Money has value basically because people need to pay taxes. The shop owner sells things for Euros or USD partially because eventually at the end of the year they need to turn over Euros or USD to the government as taxes. If they sold things for bitcoins, they'd eventually have to convert those bitcoins to USD to pay taxes.
Other than speculation, the only reason bitcoin has any value is that sometimes people need to pay ransomware ransoms. That means they need to buy bitcoin somehow. And, even the criminals who receive that bitcoin will launder it and change it back into real assets because it's not useful to them as bitcoin. Eliminate ransomware and suddenly the only value for bitcoin is people who hold it hoping there's a greater fool out there who will buy it from them for more than they paid.