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> I guess growing your money is popular, who would figure that. But… how is /everyone/ getting rich? Crypto is provably negative sum. Someone has to lose mone
by yunohn 5y ago
> I guess growing your money is popular, who would figure that.
But… how is /everyone/ getting rich?
Crypto is provably negative sum. Someone has to lose money for you to make money. And miners, exchanges, etc are all middle layers that extract large %s of fees. Where is the extra value generated to be able to make everyone a profit?
- fleddr 5y agoHow do you get the idea that everyone is getting rich? That's not the case in any market.
- Etherlord87 5y agoA market enables you to trade more easily. And trade enables you to exchange something you value less for something you value more. That's the value gained. If instead of making a series of barter exchanges like a chain of quests in an RPG game, you can simply sell stuff you produce for money, and buy stuff you want for money, you gain time. Of course markets have their pathologies like speculation, and, it seems to me, unfortunately cryptos are mostly speculation.
- akimball 5y agoCrypto is not probably negative sum without resort to false premises.
- yunohn 5y agoCould you maybe explain further?