It’s worth 1 million if you can find someone prepared to give you one million dollars for it. If you can’t find someone to give you one million dollars for it then it isn’t worth 1 million.
The whole reason that currency is worth the amount that we say it is is because everyone accepts that it is a currency and and that it can be used for goods and services. A random cryptocurrencies produced by an individual who may or may not have GTA 6 game files don’t have that consensus.
In this case it’s more like if everyone is selling eggs $1/egg, but the tag shows the price based on the last transaction, so when someone buys an egg for $10 you suddenly increase everyone’s worth ten times. If they start selling the price may collaps faster than they can sell
Hm…strange.
Seems like the burned amount was 1mil of USD not a made-up currency.
Dude it’s literary cryptocurrency, it’s the very definition of made up currency.
At the point of burning, it was 1 mil worth, no?
no, you see, Yiffyean Dollar also uses the dollar sign for its currency.
It’s worth 1 million if you can find someone prepared to give you one million dollars for it. If you can’t find someone to give you one million dollars for it then it isn’t worth 1 million.
The whole reason that currency is worth the amount that we say it is is because everyone accepts that it is a currency and and that it can be used for goods and services. A random cryptocurrencies produced by an individual who may or may not have GTA 6 game files don’t have that consensus.
Same as gold and any other commodity xD
Basically how trading works.
In general, yes
In this case it’s more like if everyone is selling eggs $1/egg, but the tag shows the price based on the last transaction, so when someone buys an egg for $10 you suddenly increase everyone’s worth ten times. If they start selling the price may collaps faster than they can sell
…
Ever heard of a fool and his money?