[cmeacham98]

> Imagine an otherwise empty room with a table and a few chairs. A couple people come in with some money in their pockets and cards. They play a few round of a card game, some lose, some win. When they leave, the room as it was before so it is crystal clear the sum of their money couldn't change. Some won, some lost but overall the change is zero. This still doesn't change if, for convenience, during the game, they use plastic chips to count wins and losses and at the end they exchange it for money.

Does this not describe CC fees/taxes/online marketplaces/etc? Or is your argument all those are scams as well?

I agree crypto projects are generally a scam but I fully disagree the reason for that is transaction fees (which I assume is what you're alluding to here as the "small cut").

[nemothekid]

>Does this not describe CC fees/taxes/online marketplaces/etc?

No, because CCs exchange dollars and the dollars themselves are not worthless (or, rather are given worth via a nuclear arsenal).

The coins themselves are worthless, but accrue "fees" in fiat (ex. when you exchange USD for UST).

[cmeacham98]

This is effectively circular reasoning

> The coins themselves are worthless, but accrue "fees" in fiat (ex. when you exchange USD for UST).

But why are the coins worthless? I'm sure your answer would be "because they're a scam" (probably more indirectly, but it would boil down to that point). But your reasoning for why the coins are a scam involves them being worthless.

Also, this isn't even true but the standard definition of worth of something like "what the market is willing to pay for something".

[nemothekid]

>But why are the coins worthless?

The coins are worthless because they have no function outside of speculation.

>But your reasoning for why the coins are a scam involves them being worthless.

The coins are a scam because they are worthless but the conmen in the room are telling you that if you just hodl they will be worth a billion dollars. Just like buying seeds for a money tree is a scam. In other words, the coins themselves have as much utility as seeds for a money tree. Sure the market might be willing to pay for seeds for a money tree; but you and I both know that money trees don't exist and the market participants are paying for something that will be worthless in 10 years.

You are now one of those market participants twisting language because you are 100% convinced that you will begin harvesting benjamins in 10 years once you plant your money tree seeds. Once the tree matures and bears no fruit, will money seeds be a scam, or will it just be that your tree was a "Failed project", but the ecosystem of money tree seeds is 100% legitimate?

[cmeacham98]

> The coins are a scam because they are worthless but the conmen in the room are telling you that if you just hodl they will be worth a billion dollars.

So you agree with me the reason they are a scam has nothing to do with transaction fees??? Maybe you should re-read my initial comment.

> You are now one of those market participants twisting language because you are 100% convinced that you will begin harvesting benjamins in 10 years once you plant your money tree seeds.

I have never, am not currently, and do not plan to hold any cryptocurrency or invest in crypto-related projects. Thanks for projecting this onto me though!

> Once the tree matures and bears no fruit, will money seeds be a scam, or will it just be that your tree was a "Failed project", but the ecosystem of money tree seeds is 100% legitimate?

You really should go re-read my first comment - I never said anything close to this.