had a friendly argument with someone i know. My view is that cryptocurrency is a negative sum game to the tune of $36 billion a year.If that is true, 10 years of that and you have $360 billion flow out of the crypto ecosystem. It is not sustainable.The $36 billion is something I came up with after a few minutes of googling. Not sure if it is a low or high figure or maybe right figure.miners: make money from mining and selling to pay for electricity, mining equipment and warehousesexchanges: make money from fees and selling to pay for employees, rent etc...(Coinbase for example yearly revenue is $6.6 billion)coin unlocks: make money from unlock coins, selling to profit(for example In October 2024, a significant amount of tokens, estimated at around $3.46 billion, are scheduled to be unlocked, potentially impacting the cryptocurrency market. )hackers: to cash out after a successful hack(for example, Bybit was hack for $1.5 billion recently)govt selling confiscated coins(for example, Germany sold $2.88 billion worth of bitcoin seized from pirate movie website)I believe the annual total from these could be more than $36 billion a year.A casino is a negative sum games for the patrons. Some win and some lose. But overall, more losses than winnings. All the casino profits are the result of the accrual of all of the losses from casino patrons each year. Due to selling from miners, exchanges, hackers, government, cryptocurrency is also a negative sum game. A simple math game:Player A win $90 and Player B lost $100. The house (casino) get $10 as rake.Crypto buyer A win $90 and Crypto buyer B lose $100. The house (miners, exchanges, hackers, government) get $10 as rake. via /r/changemyview https://ift.tt/MV2YnWE
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