shoulderoforion@fedia.io to Technology@lemmy.world · 18 days agoTeen creates memecoin, dumps it, earns $50,000arstechnica.comexternal-linkmessage-square84fedilinkarrow-up11arrow-down10file-text
arrow-up11arrow-down1external-linkTeen creates memecoin, dumps it, earns $50,000arstechnica.comshoulderoforion@fedia.io to Technology@lemmy.world · 18 days agomessage-square84fedilinkfile-text
minus-square___qwertz___@feddit.orglinkfedilinkEnglisharrow-up0·17 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.
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.