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I don't know anything about Bitcoin tech but assuming it's roughly like Ethereum it's a negative sum game due to transaction fees/mining. So even in a bull mark

I don't know anything about Bitcoin tech but assuming it's roughly like Ethereum it's a negative sum game due to transaction fees/mining. So even in a bull market it's a fundamental property of the system that people will collectively lose versus fiat. Furthermore, the more they trade the more they will - on average - lose.

blululu 4y ago
True but this critique more or less applies to real money as well. Inflation does seem to be a naturally emergent property of every healthy monetary system ever created so I don't think that this is necessarily a problem. And transaction fees are a fact of life. The objection here is a matter of degree more than of kind.
- JumpCrisscross 4y ago
  > this critique more or less applies to real money as well Currency is transparent about being negative sum per se. It's not designed to be held for long term, it's designed to create positive externalities by enabling trade. (The value-holding form of the U.S. dollar is the Treasury.)
__s 4y ago
This is gone over in Bitcoin is not a store of value: https://news.ycombinator.com/item?id=32892327 https://news.ycombinator.com/item?id=32892327