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Comment by shagymoe | Hacker News Reader

As noted by another poster, all transactions cost someone something on every monetary network. You're also completely ignoring all the benefits miners provide by securing the network etc...

Celcius, FTX, et al the many thousands of shitcoins are all scams or pyramid schemes without merit. Bitcoin, despite that fact that early adopters profit greatly, has many benefits to individuals and society as a whole but many people have simply closed themselves off to the possibility because they're unwilling, for mostly selfish reasons, to even consider the benefits.

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> but many people have simply closed themselves off to the possibility because they're unwilling, for mostly selfish reasons, to even consider the benefits.

And many people have considered the benefits and have rejected the scheme anyway.

I'm curious, though... what do you mean by "selfish reasons"? That implies that such people are making a decision that disadvantages others in order to give themselves an advantage. I'm struggling to see how that concept applies here.

"Selfish reasons" is how markets work. Economists call it "Rational Self-Interest"

It's selfish to reject something beneficial to everyone because you won't benefit as much as others, no? Maybe jealousy is a better adjective.

You continue to call it a "scheme" but it was literally invented due to the corruption and malfeasance and "schemes" of the current banking system. Do you call those schemes and scams as well or are those just the ones we've deemed acceptable and necessary for some reason?

FWIW, I think the current system is unstoppable and inflation is necessary theft because that's just how it works but I do believe people should be able to save and not lose value. On a long-term basis, Bitcoin achieves that when essentially nothing else can because we've designed it that way.

We're all "rich" here and I get why most of us simply want that to continue.

....is it selfish to promote something with zero practical use so you can sell it for more than you bought it for?

This is exactly what I mean so thanks for demonstrating. If you can't imagine a single useful purpose for Bitcoin, you're not even trying.

> It's selfish to reject something beneficial to everyone because you won't benefit as much as others, no?

If I decide not to use cryptocurrencies, I am not denying anyone else from using cryptocurrencies. My decision disadvantages nobody. There is no social duty to use cryptocurrencies.

Also, if I disagree that cryptocurrency is "beneficial to everyone" (and I do), then I'm not being selfish for not taking part no matter what.

> You continue to call it a "scheme"

I did not intend "scheme" as a pejorative. I meant it to mean "plan" or "system". My apologies for the miscommunication here.

> We're all "rich" here and I get why most of us simply want that to continue.

Umm, what? I honestly don't understand what you mean by this.

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