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Since nobody claimed it did, you're attacking a strawman.
by icebraining 7y ago
Since nobody claimed it did, you're attacking a strawman.
- pmiller2 7y agoPay attention, because you’ll miss it if you don’t up your game, apparently. “Hodler” doesn’t make money here. She loses. Losing $0 is superior to losing $X for any X > 0.
- icebraining 7y agoHodler will obviously only make the trade when the spread is larger than the transaction costs. The question is why would Alice and Bob be willing to pay, but the reality is that some are. Whether it be by pure foolishness or because your theory is simply incomplete.
- pmiller2 7y agoWell, if it’s pure foolishness, there’s a name for the way that Hodler makes money: a Ponzi scheme. Where is my theory incomplete?