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A comment on Crypto firm BlockFi files for bankruptcy as FTX fallout spreads. Parent comment

Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by michaelt on Monday November 28, 2022 @12:43PM (#33776718)
Weren't all those ape NFTs brought with monopoly money anyway?

I mean, buying a $1M ape NFT with real money makes no sense - but if you were Sam Bankman-Fried and you had an unlimited supply of coins you knew to be worthless, you're just swapping something worthless for something maybe-worthless, which is much easier to explain.

[ Parent | on HN ]
Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by deltree7 on Monday November 28, 2022 @01:00PM (#33776996)
No, when you bought an NFT for X Coins, at the same time you could have bought Y dollars.

So, the NFT did really cost Y dollars and if it's trading at Z, you have lost Y-Z dollars

[ Parent | on HN ]