LogFAQs > #964971195

VigorouslySwish posted...

exact same can be said about the stock market

or literally any market

I mean first of all, I think that there's a lot of arbitrage that I would consider to be "ethical" in regular markets, so I'm not even inherently disagreeing with you on that point. I also don't really have sympathy for people who think day trading stocks is there ticket to upward mobility who fail either. As others have pointed out though, the lack of traditional protections in crypto space is directly related to why it's so alluring to some people as an "investment" vehicle, and I think it's hard to disentangle those two things.

In general though I don't really feel like that's an accurate representation of all "markets" depending on how broad you're intending on being with that phrasing. Like when I buy something from the store, the level 0 idea is that I get more value out of the item than I paid for it and the person who sold it to me is selling it for more than the resources they put into it, so we both benefit. The transaction is adding value. Obviously this is a simplistic view of it and there are middlemen in between but in a very zoomed out picture on one end you have someone who values the product and someone who values what they can get for the product.

95% of the people losing money on crypto don't value it as a product and know they are selling to people who also don't value it as a product in which case you're just betting against each other to see who is stuck with it at the end. Which is why I'm saying that's less sympathetic to me.