/biz/ - Business & Finance

>>14249170
it is a zero sum game
if you made money it is because someone lost it

>>14249180

I made about as much as that reddit fag lost hehe

>>14249180
>I don't know mining exists
Cool

>>14249217
mining is a way to short a coin
it is a check and balance, and the value
it changes nothing, it is still a zero sum game, only coins with tail emission are not zero sum

>>14249217
someone has to buy ur coins fag

>>14249217
mining turns crypto into a negative sum game.

>>14249241
>mining is a way to short a coin
Is this bait?

>>14249180
it's all about how early in the game you get and how many people will be wanting a slice later. For everything in life

I lost everything in 2017.

>>14249206
sure you did

>>14249206
Based me too, perhaps 5-10% less

>>14250362
Not everyone is a poorfag

>>14249170
I have zero sympathy for r*dditors.

>>14249170
The jews would have gotten richer either way.

>>14249170
Wealth in general is a zero sum game

>>14251440
>it is possible for total wealth to increase or decrease
>somehow zero sum

>>14249170
>putting money in shitcoins
BTC for life baybee

>>14251449
It doesn't matter if the absolute amount of wealth increases or decreases, what matters is how big your wealth is compared to the median. Wealth only exists as a relation and is therefore a zero sum game. You can only be called rich when you possess more wealth than others and in the same manner you are poor if you possess less wealth than others. The absolute number is irrelevant. Of course overall living conditions or even the median amount of possessions might increase or decrease with rising or falling of production efficiency, but wealth is defined by the amount of valuable assets not simply all possessions. Therefore you indeed become poorer when someone else gets richer.

>>14249402
Miner fee = Bank fees

>>14251568
It's quite amazing how people don't realize fiat is slavery since on average without already have capital you can't climb the ladder.

>>14251568
Of course this stupid goddamn board can only compare the value of resources to the quantity of resources acquired by others. If wealth is a zero sum game why are living standards so much higher now in spite of humanity having a population many times larger than ever before?

BUT OTHER PEOPL DEY HAV MORE DAN ME

Shut the fuck up nigger.

>>14251706
Did I in one word claim that inequality is a bad thing ?
Wealth essentially is buying power, so your ability to buy a percentage of all assets. If someone acquires more buying power he is able to buy a higher percentage of all available assets, therefore the share you can buy diminished. Regarding your comment on living conditions I already explained why that is irrelevant in a question of wealth.

>>14249170
Why doesnt reddit ever go for Link? It was literally one of the only cryptos that were positive this past year

>>14249180
That's literally any gains on any investment.

We're still early enough in this market to be able to rule over normies within 5 years though and I have a huge disdain for them.

>>14251568
This is bullshit though

You need less and less wealth for a better and better standard of living as technological advances are made

The real problem with wealth is when some people don't have enough of it to have the bare minimum of a comfy, safe, healthy life... But the floor for that is constantly falling.

If Elon musk had decided to create widespread automation of our most fundamental needs, we'd eventually never need to work again and also he'd probably be a trillionaire while the rest of us were broke and happy with our startrek replicators and lifelike artificially sentient catgirl sex doll harems.

>>14251706
I don't think it's essentially buying power. How do you define it when everyone has all their earthly wants satisfied for virtually no cost to them or anyone else (i.e., no need for anything except the most tiny taxes because we've drastically lowered the cost to provide everyone's needs and many of their wants)?

Maybe only the rich will be able to afford to have their own starships 3d printed in space but the poor will be living much better than the richest of us today.

>>14252134
your life gets easier, but nature get polluted and animals die. zero sum.

>>14252509
No, we get more efficient and cleaner.

>>14252162
>>14252134
Yes but that is not what wealth is. Wealth does not equal standard of living. In most western nations everyone more or less has all his basic needs covered, just take a look at the average /biz/ neet. If you would compare a third worlder with a first world neet, the third worlder would obviously accuse the latter of being rich. Yet most people wouldn't call the guy living of neetbux in his moms basement wealthy, because the surroundings you are living in matter. The same would be true at any point in the future no matter what the basic standard of living would look like. If it were considered the most basic of possessions to own your own spaceship but you lacked the necessary buying power you would still be considered poor, even if you enjoyed luxuries the rich of today could only dream of.
Wealth is the possession of valuable assets, and an asset is only valuable if there are people willing to buy it. Also you wouldn't sell it if those people couldn't give you something you wanted in exchange. Therefore wealth is basically the share of available assets you could hypothetically afford.

i am up 5x thanks to holding LINK without swinging like a degenerate
even when it fell down below 20 cents i didn't have the slightest urge to sell, instead i bought some more

other than getting scammed or buying the absolute top, most people who lost money in crypto were daytraders with delusions that they were smart enough to escape wagecucking through swinging

>>14249180
Tech breaks this because of compounding gains.

>>14249180
retard alongside with most ppl replying to this post.

crypto is a new asset type. it's bound to cover at least 25% of the world's wealth eventually.
marketcap of all assets in the world: 500-2000 trillion USD
marketcap of crypto: 0.25 trillion USD

it's not anywhere near a "0-sum same" until the marketcap reaches at least 125-500 trillion.

>>14249170
I killed myself yesterday and I'm still shitposting from beyond the grave my noggers

>>14253489
Do they accept crypto in hell? I figured they probably wouldn't take fiat, but it seems like crypto could be a possibility

Lost around the same amount. Except it was house money

>>14253410
> it's bound to cover at least 25% of the world's wealth eventually.

>>14250345
Glad to see I am not the only one with Enigma bags