simoncowbell t1_j28cqba wrote
Reply to comment by Derikoopa in eli5: Why couldn't a country in debt mint a coin of immense value and use it to pay off the debt? by Derikoopa
No, you can't just declare that a thing is worth a billion dollars if you've got nothing to back it up.
Even the shadiest of financial schemes like NFTs have an idea and a market that may decide an NFT that has no inherent value has a tradeable value, but there has to be something that will persuade other countries that the coin can be converted into a billion dollars.
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