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Incorrect. Value can be created and sent back to ether. It’s not a zero sum closed system. Let’s look at NFTs, they weren’t ever worth anything but some peopl
by SV_BubbleTime 4y ago
Incorrect.
Value can be created and sent back to ether. It’s not a zero sum closed system.
Let’s look at NFTs, they weren’t ever worth anything but some people thought they were, and counted them like they were, and convinced dumb people to pay for them at these prices, but it was all imaginary. The ones that never sold are just as worthless as the ones that did. The entire market collapsed, the “value” is really just gone, no one “has it”.
- helloworld11 4y agoBut no. Those NFTs never had anything but subjective bubble value to begin with and cost next to nothing to create too. The money transferred in exchange for changing ownership of them passed to other hands but didn't disappear. Its much more concrete value wasn't lost and nothing was destroyed in the process except the wispy perceived value of the digital NFT tokens that had (again) cost nothing to create in the first place.