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While partly true, that is true of any asset (dollars in/dollars out). However your statement that fortunes are not created, they are redistributed is incorrec
by nightski 5y ago
While partly true, that is true of any asset (dollars in/dollars out). However your statement that fortunes are not created, they are redistributed is incorrect. The value is not a 1 to 1 relationship with inflows. The value is based on supply/demand. If demand outstrips supply, value goes up regardless of how much $ is flowing in or out. You can see large price swings even on days with low volume.
- cuteboy19 5y agoNo, when I invested 100k₹ in my brother's shop, it was able to turn a profit in a few years and pay me back with interest. The money came from selling products and generating revenue. With Bitcoin there is no revenue. The only way you can turn a profit is if you get some other greater fool to buy it from you. This is how most ponzi schemes work. I find it very scary that the people investing in crypto don't even understand the basics of investment. They genuinely think that all investment follows ponzinomics.
- deleted 5y ago[deleted]