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Remember when NFTs sold for millions of dollars? 95% of the digital collectibles are now probably worthless.
(markets.businessinsider.com)
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this post was submitted on 21 Sep 2023
851 points (96.3% liked)
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Sounds a lot like the banking system today lol.
Edit: Idk why all yall turds down voted me. The u.s. dollar is literally not backed by any physical asset..... look up fiat money and do research on the dollar.
Yes it is. It's backed by the US's economic power on the world stage. That's how economies function.
Crypto can be created or of thin air by literally any tech bro with a GPU. By definition that is literally worthless
It doesn't need to be, it's backed by the need to pay taxes in USD.