• 2 Posts
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Joined 2 years ago
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Cake day: June 10th, 2023

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  • I gamble very rarely and am fully aware of its expectation value. But when I do gamble I still enjoy it, in the same way I might enjoy an amusement ride. Sure I part with some of my money but it’s just the fee for some thrill and entertainment. Roulette can actually be fairly cheap and a nice way of socializing with others.

    If you start thinking of it as a way to earn rather than waste your money, you’re lost.





  • The key feature is that there’s a mechanism that limits supply. Other than that, value only exists because enough people agree that it has value. Fiat currency is exactly the same in this regard.

    I think your questions indicate that you don’t have sufficient understanding of how “ordinary” money works. It’s just a promise of being able to exchange it for goods & services in the future, and its value hinges on people trusting that promise.