winkyincanada posted:Kevin Richardson posted:winkyincanada posted:
Where then, does the money come from?
I sell something at a price that is good for me to a person that wants what I have at a price that is good for them. No different than any other asset. Only time will show which side made the bad trade. Many people are happy to sell after a week with a 50% profit. The buyer might hold it for a year and make 10,000%.
The difference is that these "assets" have no value. Value is not being created, just transferred. Value is of course also being destroyed by the mining process, so someone has to pay for that, too.
So BTC no different than USD?
Some people get paid in crypto so there is some value entering the market.