[nejsjsjsbsb]

Fiat is also negative sum. If you HODLed a dollar in 1930 it would be worth less today. Mostly because of inflation of supply over cost of printing. But in some sense inflation is the tax that keeps money free (a hard currency would require banks to charge you to hold and then you see the cost).

Investments have costs but they produce value. NVidia of 2025 is actually doing more than Nvidia of 1999. Forgetting currency, it is actually more valuable.

Bitcoin is like a currency not an investment. In addition the $ cost of mining is huge compare to it's inflows. That is why bitcoiners love to compare this cost to the whole trad-fi cost including branches and AML and credit card issuing etc. Rather than compare it to what the federal reserves server rack does.

Bitcoin needs $50m a day paid to miners. That money needs to come from new "investments". Yet a bitcoin does the same thing as it did in 2009. And yields the same earnings per share, zero.

[krupan]

My friend, you are stating falsehoods, mixing metaphors, and jumbling up concepts in ways that I can't begin to untangle. But clearly you know more than the big investors getting into Bitcoin now and the finance firms offering Bitcoin ETFs, so keep at it!