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Cyberleek Burned 270 Milion dev coins (sh.itjust.works)
submitted 2 months ago by to c/piracy@lemmy.dbzer0.com
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[–] 27 points 2 months ago (15 children)

The absolute number is meaningless without knowing the total amount of coins he has free access to.

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  • [+] -17 points 2 months ago (14 children)

    Doesnt matter.
    A burned million is a burned million.

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  • [–] 20 points 2 months ago (8 children)

    I'll send you 16.000 bazillion Yiffyean Dollars if you give me your home address. Look how charitable I am!

    You know what, let it be 17.000 bbazillion Yiffyean Dollars.

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  • [+] -15 points 2 months ago (7 children)

    Hm...strange.
    Seems like the burned amount was 1mil of USD not a made-up currency.

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  • [–] 12 points 2 months ago* (6 children)

    Dude it's literary cryptocurrency, it's the very definition of made up currency.

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  • [–] -4 points 2 months ago* (last edited 2 months ago) (5 children)

    At the point of burning, it was 1 mil worth, no?

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  • [–] 11 points 2 months ago* (2 children)

    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.

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  • [–] 3 points 2 months ago (1 child)

    Same as gold and any other commodity xD

    Basically how trading works.

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  • [–] 3 points 2 months ago

    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

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  • [–] 5 points 2 months ago

    If its part of an idle stack not taking part in trading, it does not. Imagine the dev having enough so that dumping 1% of their stash tanks the price to 1% of current value. Burning this 1% makes no difference.

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  • [–] 2 points 2 months ago (1 child)

    Except it's not a million. Not really. It's probably 100k at absolute most.

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  • [–] 5 points 2 months ago*

    It's not worth anything. A dollar sign next to a randomly generated big number does not mean that that randomly generated big number could be converted into US dollars or any other currency.

    They are just unallocated crypto tokens, deleting these simply increases the value of the ones that haven't been deleted, no value has actually been lost. Is the dev was deleting tokens from an active wallet it would be different.

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