this post was submitted on 20 Aug 2023
755 points (91.7% liked)
Technology
59588 readers
3404 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
The money isn't gone, it's just changed hands
Money ain't got no owners. Only spenders.
It doesn't work that way. Almost all of the money in the world is debt owed to someone else. Very few things are bought with cash. It is really credit on credit on credit on credit. And all of that depends on trust. My company gets product from your company today with the promise to pay in a month, your company does the same...
When events like the Twitter buyout and burn happen it weakens trust. Which weakens credit. Which means the virtual money is gone.