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118

A rare sticker-sealed copy of Super Mario Bros. just sold for $3 million (www.engadget.com)

submitted 22 hours ago by return2ozma@lemmy.world to c/technology@lemmy.world

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[–] IPeaceInYourFace@lemmy.world 2 points 12 hours ago (1 children)

It never will be.

This asset can be used as collateral for leverage. So now the owner has it, they can use it to put up maybe around $30,000,000 if they have a good enough relationship with a broker.

Because of the way America is right now too, they can give trump a 10m cut if he slides a particular stock one way or another.

President gets 10m, punter gets got knows how much, and nobody is any the wiser.

It's the same with art, but with art, it's a lot more speculative, which is why you have so many god awful contemporary pieces, because again they'll pay an appraiser to say it's worth 100m when it's a handful of beans on a canvas, and then use that as collateral.

These are just infinite money glitches for the rich.

In all seriousness, there's nothing stopping you and your friends and their families from doing the same thing, but because it's not the system they designed they're going to be skeptical of it and not want to do that.

[–] Dasus@lemmy.world 1 points 11 hours ago

Infinite money glitches for the rich is well said, but they should be mindful that too many glitches will cause the system to come... crashing down.

As in if the rich just keep getting richer and inflation keep getting worse, soon it'll be like Ireland during the Great Hunger, but fucking everywhere. Because the potato blight wasn't even the worst thing back then for the Irish, the British government was.

Initial government actions to alleviate famine distress, which were constructive but limited, were ended by a new Whig administration in London. This administration pursued a laissez-faire economic doctrine, additionally, some members of the British government believed that the famine was divine judgement or that the Irish lacked moral character, Aid resumed only to some degree at a later stage. Large quantities of food were exported from Ireland during the famine, and the refusal of London to bar such exports, as had been done on previous occasions, was an immediate and continuing source of controversy.

Hmm I wonder of there are any good movies about it actually. Probably not because the BBC wouldn't make them. Like 1800-1930 set period pieces about politics in Ireland. Suggestions, anyone?