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> had [they] bought Bitcoin or Ethereum years ago they wouldn't be struggling now. I'm curious how you think people "make money" on crypto. Wouldn't those peop
by Xelynega 4y ago
> had [they] bought Bitcoin or Ethereum years ago they wouldn't be struggling now.
I'm curious how you think people "make money" on crypto. Wouldn't those people getting rich be doing it at the expense of people losing money investing in crypto?
- corv 4y agoNo, the market isn't a zero-sum game. "A rising tide lifts all boats" Of course everyone cashing out at the same time would be akin to a bank-run. In practice this doesn't happen since people bought in at different times and have a different cost basis.
- Xelynega 4y agoOk, but where does the actual money come from? If I bought 10k of ethereum at one point in time and sold if for 100k, I put 10k into a pot which I took 100k out of. Basic math tells me there won't be a "rising tide" for the boats that are left when anyone else pulls out.
- omgomgomgomg 4y agoA rising tide also makes some vessels capsize, though. I do not see how crypto is not a zero sum game, actually its a negative sum game if we deduct the mining costs, lost coins and the exchanges fees. Wasnt this supposed to work without whaleish, centralised exchanges?