The second pipe is also what represents real value. Sellers buy ad space to find buyers (if they can't, the ad sale business isn't sustainable). Seller values w

The second pipe is also what represents real value. Sellers buy ad space to find buyers (if they can't, the ad sale business isn't sustainable). Seller values what they sell at less than what the buyer pays (on average), and vice versa for the buyer. Both are better off, value is created. What we have in crypto is as if somebody invented the Internet, and the only thing anybody used it for was to trade stock in Internet companies. Not companies in general, which would at least provide an external source of value, but only Internet companies in an overgrowing ouroboros of speculation upon itself.