this post was submitted on 20 Dec 2023
67 points (84.5% liked)

Technology

58303 readers
12 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
67
Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out (cointelegraph.com)
submitted 11 months ago by [email protected] to c/[email protected]
15 comments fedilink hide all child comments
 

This is genius.

Nobody wants to buy your crypto phone? Your warehouses are full and bills starts piling? Just create some monopoly money and give it to who buys that phone.

So now crypto is not only wasting the electricity for the most inefficient payment method ever created (for Bitcoin it takes a whole day to verify a number of transactions that Visa/Mastercard can do in less than a second) but also producing and shipping a phone all around the world, just for getting that monopoly money, then immediately trash the phone

you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 1 points 11 months ago (1 children)

That's not quite the order of events. The phone always came with the shitcoin, but the price recently surged which caused people to realise that they could sell the coins for more than the phone was worth. The surge in price is probably just a reflection of idiots pumping crypto again because Tether manipulated the price of bitcoin back up to 40k.

This is all just a brief window for whales to cash out, and it's very likely that this memecoin will crater leaving anyone who bought these phones at a markup holding the bag.

[–] [email protected] 1 points 11 months ago (2 children)

Ah yes tether, the "we're 1:1 backed by dollars, pinky promise don't worry coin" that's printing money at a rate that makes the Argentina central bank chief an amateur

Printing stats: https://nitter.1d4.us/usdcoinprinter

[–] [email protected] 2 points 11 months ago

Coiners: "Fiat is bad because governments can just print more whenever they want. That's why all my money is in Dog Butt Coins!"

Tether: "Printer go brrrrrrrrrrrrrrrrrrrrrrrrrr...."

[–] [email protected] 1 points 11 months ago

Can't find recent stats of money printed by the argentinian central bank, but in the first semester of 2022 they printed $5 billions.

Amateurs. Tether is printing that amount every month.