301
95% of NFTs are Worthless: Report
(petapixel.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 21 Sep 2023
301 points (100.0% liked)
Technology
37747 readers
212 users here now
A nice place to discuss rumors, happenings, innovations, and challenges in the technology sphere. We also welcome discussions on the intersections of technology and society. If it’s technological news or discussion of technology, it probably belongs here.
Remember the overriding ethos on Beehaw: Be(e) Nice. Each user you encounter here is a person, and should be treated with kindness (even if they’re wrong, or use a Linux distro you don’t like). Personal attacks will not be tolerated.
Subcommunities on Beehaw:
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
Deflationary means the costs of goods and services fall relative to the currency. So holding onto 1BTC or whatever would make you richer in the future just by holding onto it. Also means debts become increasingly more expensive over time.
Hm, yeah I think you're right. I was wondering why it wasn't sitting right in my head. Deflation encourages hoarding because the value of each unit keeps increasing so if you spend now instead of later you lose some amount of potential value. I don't think it was meant to be a scam though. In this case I'd consider it ignorance of the knock-on effects later exploited rather than an explicit conspiracy from the get-go.