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> Cryptocurrency returns are a zero-sum game i.e. if 1 person gets a $10 profit, another person has to lose $10. > So, it is the same as gambling where if you
by sshine 4y ago
> Cryptocurrency returns are a zero-sum game i.e. if 1 person gets a $10 profit, another person has to lose $10.
> So, it is the same as gambling where if you are winning, someone has to lose.
Not true.
If you think of cryptocurrency as gambling, yes.
If you think of cryptocurrency as a kind of money, no.
For example: I buy $100 worth of Bitcoin, and I spend those on a VPN and some drugs. The seller of the Bitcoin feel they won because they can use $100 on something else they like, and I feel I won because I'm anonymous and on drugs!
It is your own responsibility to not treat cryptocurrencies like gambling.
Use it to buy something. Who knows what's gonna happen long-term with any one altcoin / project.
> In the cryptocurrency world, no one really has a positive mathematical edge in cryptocurrency i.e. no one has such information which makes them better than other crypto investors. So, it is impossible to make a profit in long term.
Not true.
A must-read: https://medium.com/@danrobinson/ethereum-is-a-dark-forest-ecc5f0505dff https://medium.com/@danrobinson/ethereum-is-a-dark-forest-ec...
There are lots of people with a mathematical edge. You're probably not one of them.
A friend of mine who sucks at math was fascinated by day-trading because it seemed so easy. It's not a fair game, it's not for everyone, and it is popularised because it's so much more profitable if more suckers want to join.
What's a sucker? Someone who sucks at math who wants to get rich quick and effortlessly through financial speculation.
- gogo61 4y ago> If you think of cryptocurrency as a kind of money, no. This is really great point which i missed. Thanks :)