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> Crypto is not zero sum since new value is created. I'll bite, because I struggle to find people who think this. What value is created?
by robertlagrant 3y ago
> Crypto is not zero sum since new value is created.
I'll bite, because I struggle to find people who think this. What value is created?
- logicchains 3y agoAll the people who managed to buy drugs safely without risking being robbed by some shady street dealer?
- robertlagrant 3y agoHow's that value created by bitcoin? Cash also creates that value.
- injeolmi_love 3y agoPersonally, the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system. For other people I’ve seen a wide variety of things they consider valuable that I don’t care for. Trading, community, loans, art, gaming for examples.
- robertlagrant 3y ago> Personally, the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system. Doesn't cash also fulfil these? I'd have thought bitcoin is more fickle than cash. > For other people I’ve seen a wide variety of things they consider valuable that I don’t care for. Trading, community, loans, art, gaming for examples. Sorry - is this crypto related? Or just examples of things people like?
- injeolmi_love 3y agoI don’t use Bitcoin because it’s too slow and expensive. Other people do find value in it. Carrying more than $10k in cash is dangerous, and likely to be seized during international travel. That’s a list of things people use crypto for. Obviously, if they preferred the non crypto version of those services, they would use them instead.
- robertlagrant 3y agoWhat I mean is I can do all this with my bank: > the ability to always have access to my money, accept contracts internationally, and to be protected from a fickle financial system What's the difference, that is valuable enough to explain the bitcoin price differences?
- injeolmi_love 3y agoWhat’s your bank? I’d like an account there. Every one I’ve checked so far freezes accounts and has a painful process for international wire transfers.
- robertlagrant 3y agoEr. A wire transfer like BACS? You just put in the details, click "yes, I understand this is probably a bad idea" and wait. At least in the UK. But I'm not saying there's zero value to bitcoin's advantages. I'm saying that that in no way explains the price of bitcoin. What explains it is greater fool theory.
- kreetx 3y agoBitcoin's dollar value is just the amount of it in circulation divided by the people interested, the actual number value doesn't really mean anything directly (e.g if there were 100x more of it then the price would be that much less).