Comment by dcolkitt
4 years ago
> Because it turns out every crypto market is a negative-sum game.
[Citation needed]
You can't just hand wave and assume this to be true. If the world's major investors decide that crypto represents a store of value, then that's a positive-sum game for crypto. If stablecoins transacted on smart contract chains generate demand for Ethereum to pay for the network transaction fees, then that's a positive-sum game for crypto. If new enterprises start raising capital through DeFi and DAOs instead of traditional capital markets, that's a positive-sum game.
What major investors decide has no bearing on it. Mathematically, it is now, has always been, and will always remain a negative-sum game. This cannot change, it is part of what bitcoin is and how it functions economically.
It is a negative-sum game, no matter how hard you wished it were not.
If crypto is a store of value and its value goes up who exactly is working longer hours to create that additional value?