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Because it is currency itself that you measure everything else against. What my sentence meant is that without transaction fees it would be a zero sum game -- i
by chx 4y ago
Because it is currency itself that you measure everything else against. What my sentence meant is that without transaction fees it would be a zero sum game -- ie if you undid all crypto-money transactions then nothing is left -- but with transaction fees their sum is a negative number. But you need to measure this in something.
Note how stocks are decidedly not like this because if you undid all stock-money transactions the sum would be positive because of buybacks and dividends.
- LudwigNagasena 4y ago> Because it is currency itself that you measure everything else against. So what? I cannot see the significance of that. There are many possible measures of value. > if you undid all transactions then nothing is left -- but with transaction fees their sum is a negative number. But you need to measure this in something. Yes? So what's the important difference between cryptocurrencies and traditional currencies?
- chx 4y agoThe thing is you can buy anything in this world for money. That's what money is for. Thus, we measure these things in money.
- LudwigNagasena 4y agoI don’t see how it answers those questions.