News for hackers. Stuff that matters.

A comment on Binance Acquires FTX. Parent comment

Re:Binance Acquires FTX by chx on Wednesday November 09, 2022 @06:17AM (#33529887)
Because it is currency itself that you measure everything else against. What my sentence meant is that without transaction fees it would be a zero sum game -- ie if you undid all crypto-money transactions then nothing is left -- but with transaction fees their sum is a negative number. But you need to measure this in something.

Note how stocks are decidedly not like this because if you undid all stock-money transactions the sum would be positive because of buybacks and dividends.

[ Parent | on HN ]
Re:Binance Acquires FTX by LudwigNagasena on Wednesday November 09, 2022 @11:24AM (#33533872)
> Because it is currency itself that you measure everything else against.

So what? I cannot see the significance of that. There are many possible measures of value.

> if you undid all transactions then nothing is left -- but with transaction fees their sum is a negative number. But you need to measure this in something.

Yes? So what's the important difference between cryptocurrencies and traditional currencies?

[ Parent | on HN ]
Re:Binance Acquires FTX by chx on Wednesday November 09, 2022 @12:18PM (#33534744)
The thing is you can buy anything in this world for money. That's what money is for. Thus, we measure these things in money.
[ Parent | on HN ]
Re:Binance Acquires FTX by LudwigNagasena on Wednesday November 09, 2022 @07:11PM (#33540203)
I don’t see how it answers those questions.
[ Parent | on HN ]