The supply of digital knife skins is infinite and free. The only reason they hold any value at all is because a company artificially restricts them.
Doesn’t really tie in to actual markets involving physical item.
Doesn’t really tie in to actual markets involving physical item.
- A designer brand has admitted to destroying its own products. Coach confirmed that it purposely ripped up bags that were returned to its stores, even if the bags were still in good condition. https://www.bbc.co.uk/newsround/58846711
Monopolies and cartels are also well known for creating fake scarcity. Fake scarcity is bad for the economy and for consumers, only a few profit from fake scarcity at the cost of everybody else.
The counterstrike skins don't represent such real life physical resources.
USD is human created artificial item, as real as human believe that skins in video games worth something
"The counterstrike skins don't represent such real life physical resources."
it represend steam wallet currency
They're are plenty of things in very short supply, bit no one wants them.
Or shares in Nvidia.
This had catastrophic impact on people hoarding 500$ expecting their exchange value to remain at the elevated levels.
Government may indeed issue more currency, and does do so every day, but it is in exchange for something the private sector has that it wants for the public service. That isn’t a problem as tax is a percentage and operates as a geometric series - meaning that whatever government issues it gets back exactly the same - unless somebody along the way saves it.
There has to be something available to buy in a currency for it to be issued. As we see in the game.