Why bitcoin is booming

vox.com

1 pointlr02 comments

One of these days, its going to dawn on people that every dollar somebody makes off of bitcoin is another dollar that somebody else has lost off of bitcoin.

It's not like stock in a company, which becomes more valuable as the company gets more efficient, or introduces some technological advance.

The total amount of profit people will make off of bitcoin is--like energy or momentum--a conserved quantity. Its total value never changes, and that value is ZERO dollars.

that's not true at all. bitcoin is priced in dollars, and the value of the dollar changes, therefore the value of bitcoin changes. some people have dollars that they got more cheaply (through loans with lower interest rates) than others, and they're trading those.

economy is never a zero-sum game, because we're never all playing from the same positions of value

Reply on news.ycombinator.com