The suspected-bot buyer also paid very high "gas" fees - which determine how quickly the Ethereum network processes a transaction - of 8 ETH ($32,000), to ensure the sale went through almost instantly.

Imagine if money charged you $32k on a $3k purchase to process that sale "almost instantly". NFTs should be an opt-in card for organ donation.

  • grey_wolf_whenever [he/him]
    ·
    3 years ago

    Wouldn't that require some kind of functional state tho? I don't think the USA can do anything like that but maybe other places could.

    • invalidusernamelol [he/him]
      ·
      edit-2
      3 years ago

      China has already banned them, but Venezuela has actually created their own in order to skirt sanctions (they can't use international banking because of the embargo). And shipments of cash are difficult to get past a blockade without the US stealing it.

      So there are legitimate, anti-imperialist uses for crypto. It's just that the majority of the use right now is literally money laundering for international crime syndicates, billionaires, and cartels.