Most of the scarcity in artificial economies like CS is (just as with trading card games) manufactured and vulnerable.
Seeing what happens with a rug-pull in a billion dollar artificial economy like this is a valuable lesson for anyone watching.
If/when the huge Satoshi bitcoin stash gets traded in, we'll see similar outcomes there too.
I'd say that's true: if you have one skin, there's virtually zero production cost to making more copies of said skin.
It's not that different for many things in the real world, I suppose (eg: if you sell way above cost, then your cost is also arguably zero), but I'd say it's magnified in the digital world (or even with NFTs).
I got really into Lorcana last year, spent $40 on a particular rare card I needed for a deck. Out of curiosity I bought some cards for $3 each from Aliexpress, and got myself a jewelers loupe.
The cards were literally indistinguishable even with the loupe. I quit buying cards after that. It’s a suckers game if I can’t tell the difference between a $50 and a $3 card even when I know one is fake. Sure enough, a few months later the prices have absolutely cratered for the cards.
The only ones they couldn’t copy exactly seemed to be the “enchanted” cards, which sell for hundreds or thousands of dollars.
In a scenario where you have a powerful enough quantum computer and are able to break the encryption you can access any wallet (I.e. the system would be done, and the value would be zero).
pprotas|4 months ago
Plenty of market manipulation and rug pulls happening on the regular stock market as well
rkomorn|4 months ago
I'd say that's true: if you have one skin, there's virtually zero production cost to making more copies of said skin.
It's not that different for many things in the real world, I suppose (eg: if you sell way above cost, then your cost is also arguably zero), but I'd say it's magnified in the digital world (or even with NFTs).
wincy|4 months ago
The cards were literally indistinguishable even with the loupe. I quit buying cards after that. It’s a suckers game if I can’t tell the difference between a $50 and a $3 card even when I know one is fake. Sure enough, a few months later the prices have absolutely cratered for the cards.
The only ones they couldn’t copy exactly seemed to be the “enchanted” cards, which sell for hundreds or thousands of dollars.
breppp|4 months ago
jen729w|4 months ago
yard2010|4 months ago
rkomorn|4 months ago
Edit: minus some race conditions of people changing passwords/moving/emptying wallets.
highwaylights|4 months ago
In a scenario where you have a powerful enough quantum computer and are able to break the encryption you can access any wallet (I.e. the system would be done, and the value would be zero).