[hansword]

I have to say, the way you phrase it, "making money trading something with no value", this sounds like mild fraud to me, in the sense that you expect the other party to believe there is value, while you are confident there isn't any, aka "hot potato".

[lupire]

In hot potato everyone knows the potato is worthless. The question is do traders think everyone is playing the game or are there deluded suckers who have a lesser understanding of the prospects.

This is sort of why we have "accreddi investors" law in US, so risky financial instruments are only touched by people who understand the game.