And I mean LITERALLY explain like I’m 5, I literally know nothing of the technical terms and such
In: Economics
Crypto is a zero sum game. Its sort of like paying poker money is just changing hands .
Lets say I find a rock and here is the sequence of events
1. You buy it from me for $1
2. I buy it from you for $5
3. you buy it back from me for $10
4. I buy it from you for $25
5. you buy it back from me for $50
6. I buy it back from you for $100
Crypto folks somehow believe this makes us both money. In fact all that happened was I gave you $99
In the end on average no one made money. Its just money going in circles changing hands.
You made $99 and I lost $99 (but now have this rock)
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