[tough]

there's plenty of offramps and onramps from crypto to trad finance.

You can earn your money on crypto, get a debit card, and pay for your food and rent with it.

I've done it.

[dartos]

Sure, but that’s my point exactly.

You need an offramp.

The only offramp is someone else (or some exchange) buying your crypto.

They would be the “greater fool” in this case.

Even if you earn crypto, that crypto came from a “lesser fool.”

You’re just the intermediary.

[fbrusch]

ether, Ethereum's native token, is required to pay for computation on a computer with peculiar properties (publicly visible, unmodifiable, unstoppable code, uncensorable interaction). If somebody finds that useful, he will need ethers, and you will be able to sell them yours. How would he be a (greater) fool?

[dartos]

This is true in the case of chains that have vms built in, (Not bitcoin, Monero, meme shitcoins) but being “gas” for vms isn’t “inherent” to crypto.

On a kind unrelated note, are there any compelling dapps on eth that aren’t financial tools?

When I was playing around with web3 and dapps in 2020 it seemed like the only dapps around were banking protocols and gambling.

[tough]

farcaster

[eaurouge]

> Sure, but that’s my point exactly.

> You need an offramp.

> The only offramp is someone else (or some exchange) buying your stocks.

> They would be the “greater fool” in this case.

> Even if you earn stocks, that stock came from a “lesser fool.”

> You’re just the intermediary.

[LegionMammal978]

> The only offramp is someone else (or some exchange) buying your stocks.

So dividends, buybacks, and takeovers don't exist?

[dartos]

FYI saying that someone else is also a greater fools game, doesn’t do anything to show that crypto isn’t.

[tough]

> Sure, but that’s my point exactly. > You need an offramp.

> The only offramp is someone else (or some exchange) buying your fiat.

> They would be the “greater fool” in this case.

> Even if you earn stocks, that stock came from a “lesser fool.”

> You’re just the intermediary.

[dartos]

That’s just not true.

I can purchase food and shelter directly with fiat. (There may be some areas where crypto can do that too, but it’s far from the norm)

That’s not a merchant “buying” my money with other representations of wealth, that’s me purchasing food and shelter. Framing it like that is a bad faith argument.

And yeah, I’d say stocks without dividends is also a greater fool’s game.