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by mrb 3154 days ago
By your definition, this still leaves FX trading as a "pyramid scheme". Trading fiat for fiat doesn't "put up capital to create something".
1 comments

In FX trading people are putting up capital to create exchange ratios, which is information. Right now people are putting up capital to determine how much coin issued by a central bank with a "deflationary" bias written in code and run and administered by a collective (i.e., Bitcoin) is worth vis-à-vis USD. Something is most definitely being created.
You seem to be arguing that trading fiat↔fiat is comparable to trading fiat↔BTC. In which case I agree. That's the point I was making.