minus-square___qwertz___@feddit.orgtoTechnology@lemmy.world•Teen creates memecoin, dumps it, earns $50,000linkfedilinkEnglisharrow-up11·15 days agoMoney is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else. As such, money coined by a state has an inherit value as long as the state is stable. linkfedilink
Money is backed by a state with the (legitimate) monopoly on the use of force. Is has a worth because you must pay your taxes in it or else.
As such, money coined by a state has an inherit value as long as the state is stable.