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I'm sorry you had a bad experience with that. I had the opposite experience where I started to get back into to bitcoin with a set of small trades and turned a

I'm sorry you had a bad experience with that. I had the opposite experience where I started to get back into to bitcoin with a set of small trades and turned a small profit. I bought some more bitcoin and ethereum. The objective for me though was to learn the platform. It actually made me think of new ideas about how you could use the platform. I personally think that you need some skin in the game to truely understand some technology. My perspective through trading bitcoin is that it isn't as zero sum as you say but more like your gain and someones loss could be seen as you are interacting with a system that may make people money in the long run. I think its good though that you started to learn Kotlin and Rust and maybe you are being a bit too hard on your self of being guilting when you are trading cryptocurrencies.

agumonkey 9y ago
This is just my persona. I may be one of the few sad altruist trader. And I don't mind the losses etc, I didn't bet my house, nothing serious. I also think btc is not worth much, at least coming from my speculative/profit side. I think there are more interesting things to do.. so back to pg article :) ps: I wouldn't mind a cute 3x profit, I know how I'd spend the money in very good ways.
haihaibye 9y ago
Crypto peaked at 707 billion, according to CoinMarketCap. Less than three months later, market cap has now plunged by 65% to $245 billion, a drop of $462B. Given how high transaction costs are (and production via electricity usage) crypto trading is almost certainly negative sum. The only way it wouldn't be is if the non-monetary benefits (eg sense of security for different asset class, online purchases) exceed the electrical inputs. I would be very surprised if it does given eg Steam and Bitcoin conferences stopped accepting crypto payment and the sense of security in an asset class is low after seeing -65% returns in a quarter.

agumonkey 9y ago

This is just my persona. I may be one of the few sad altruist trader. And I don't mind the losses etc, I didn't bet my house, nothing serious. I also think btc is not worth much, at least coming from my speculative/profit side. I think there are more interesting things to do.. so back to pg article :) ps: I wouldn't mind a cute 3x profit, I know how I'd spend the money in very good ways.

haihaibye 9y ago

Crypto peaked at 707 billion, according to CoinMarketCap. Less than three months later, market cap has now plunged by 65% to $245 billion, a drop of $462B. Given how high transaction costs are (and production via electricity usage) crypto trading is almost certainly negative sum. The only way it wouldn't be is if the non-monetary benefits (eg sense of security for different asset class, online purchases) exceed the electrical inputs. I would be very surprised if it does given eg Steam and Bitcoin conferences stopped accepting crypto payment and the sense of security in an asset class is low after seeing -65% returns in a quarter.