Nah gambling is rolling dice
Discussion
making or taking
if taking, then gambling
its the difference between win-win value for value
and win lose extraction
Not following
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
I’m not arguing that speculators create things
🤷♂️ his original post was about adding value
i don’t know what your arguing then.
Made my point in my initial response
“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
Yeah they don’t directly create physical things obviously
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