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.
> 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.