Replying to Avatar Matt

Not my argument. Of course we would still know prices lol. Buying and holding bitcoin is speculation btw
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Neal 1mo ago đź’¬ 1

I don’t care for nominal games.

call it whatever you want

if your allocating capital into a venture, and the success or failure of that venture is your gain or loss, that’s investing in the venture.

if you are allocating capital into a trade, where your gain or loss is just winning or losing that trade with another, that’s gambling.

all action requires judgment.

horizontal trades just distort, and create no value

vertical investment is signal and produces real value in the world.

economic reality trumps all theory

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Matt 1mo ago đź’¬ 1

Nah gambling is rolling dice

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Neal 1mo ago đź’¬ 1

making or taking

if taking, then gambling

its the difference between win-win value for value

and win lose extraction

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Matt 1mo ago đź’¬ 1

Not following

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Neal 1mo ago đź’¬ 1

if you bob and I buy and sell a bunchch of stocks back and forth, we are just redistributing money between us. we are creating no value in the world

that’s categorically distinct from investing capital in a productive venture.

yes, both require “speculation” in that sense of judgment

it’s the principle behind saying “no short seller ever created anything”

short sellers can win money off others, but create nothing

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Matt 1mo ago đź’¬ 1

I’m not arguing that speculators create things

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Neal 1mo ago đź’¬ 1

🤷‍♂️ his original post was about adding value

i don’t know what your arguing then.

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Matt 1mo ago đź’¬ 1

Made my point in my initial response

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Neal 1mo ago đź’¬ 1

“speculators..make economic progress possible”

“not arguing speculators create things”

whatever meaning you are assigning to these words is incoherent.

trading doesn’t create value

trading distorts true price signals

jor stated that fact without using the word speculator, and you jumped in to defend the speculator. you are having a conversation with yourself it seems.

trading doesn’t create value

i’m sorry that offends you, but it’s true

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Matt 1mo ago đź’¬ 1

Yeah they don’t directly create physical things obviously

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Neal 1mo ago đź’¬ 1

or indirectly

that’s what gets lost in the sauce of theory.

but to be fair to the austrians, they didn’t have bitcoin to help make these relations comprehensible.

that doesn’t take away from everything they get right. but its silly to think human beings won’t have to continue to course correct as we learn more and more

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Matt 1mo ago đź’¬ 1

Brb shorting beyond meat and netflix

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Neal 1mo ago

good luck

pvp < pve