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From millions of dollars to under a grand: The dramatic fall of the NFT (english.elpais.com)
submitted 6 months ago by to c/technology@lemmy.world
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[+] -23 points 6 months ago (3 children)

As opposed to the USD, which is backed by nothing, and therefore has no underlying value, but is not gambling for some reason?

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  • [–] 31 points 6 months ago (2 children)

    The USD is backed by a state who demands their taxes be paid in their currency, ensuring there will always be demand for said currency.

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  • [–] 4 points 6 months ago

    This is also why people who complain about how “our tax dollars” are spent are missing the point. Their tax dollars don’t fund the government or any of its activities. Taxes are just an inflationary control measure; money is created when the government spends it.

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