this post was submitted on 20 Dec 2023
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67
Solana Saga smartphone sells for up to $5K on eBay as Bonk frenzy causes sell-out (cointelegraph.com)
submitted 10 months ago by [email protected] to c/[email protected]
16 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

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[–] [email protected] 1 points 10 months ago

Oh yeah, millions of computers calculating the next lucky useless number that an algorithm has decided is valuable.

It madness...