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.
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.
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
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.
Doesnt matter.
A burned million is a burned million.
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.
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.
Hm…strange.
Seems like the burned amount was 1mil of USD not a made-up currency.
Dude it’s literary cryptocurrency, it’s the very definition of made up currency.
At the point of burning, it was 1 mil worth, no?
no, you see, Yiffyean Dollar also uses the dollar sign for its currency.
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.
Same as gold and any other commodity xD
Basically how trading works.
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
…
Ever heard of a fool and his money?
It absolutely matters.
Not in my books.
Except it’s not a million. Not really. It’s probably 100k at absolute most.
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.