shoulderoforion@fedia.io to Technology@lemmy.world · 7 months agoTeen creates memecoin, dumps it, earns $50,000arstechnica.comexternal-linkmessage-square83fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1external-linkTeen creates memecoin, dumps it, earns $50,000arstechnica.comshoulderoforion@fedia.io to Technology@lemmy.world · 7 months agomessage-square83fedilinkfile-text
minus-square___qwertz___@feddit.orglinkfedilinkEnglisharrow-up0·7 months 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.