4 ms·
I look at it like the lottery or casinos. I'm not a gambler exceptthe occasionalpoker game with friends, and I abhor casinos, but they make billions(?) Of dolla
by UnpossibleJim 5y ago
I look at it like the lottery or casinos. I'm not a gambler exceptthe occasionalpoker game with friends, and I abhor casinos, but they make billions(?) Of dollars. Everyone has got Crypto figured out! They've read all the reports, and keep up with the graphs and this time! This time!
The funny thing is, I clicked on a few articles about NFT's and the metaverse because I was interested in the programming behind it and now my morning feed is filled with articles about "How to invest in crypto!", "We can tell you how to beat th crypto market!", "Check out these super looking graphs of crypto prices!".
- astoor 5y agoI sometimes liken cryptocurrency coins and tokens to casino chips. They have no intrinsic value, but they do serve a purpose for some people, and drive a multi-billion industry. There are even some people who collect casino chips (exonumismatists). This analogy also suggests that they might not ever completely go away.
- nraf 5y agoYou could say (almost) the same thing about fiat money though...
- astoor 5y agoFiat can be used pretty widely, whereas casino tokens can only be used in casinos and cryptocurrency can only be used within the cryptocurrency ecosystem (noting that casinos and the cryptocurrency ecosystem both need fiat on and off ramps to function).
- skeeter2020 5y agoexcept the business model for casinos and lotteries is pretty simple: straight-forward mariginal odds that favour the house and maximize throughput. This is not the case with crypto.
- ceejayoz 5y agoLotteries and casinos also tend to be subject to extremely heavy regulation.