pull down to refresh
107 sats \ 5 replies \ @Satosora 25 Oct \ on: Exchange is Not a Zero-Sum Game econ
Free market dictates how things should be traded.
When people trade willingly, each thinks they are getting the better deal, or they wouldnt trade.
Maybe not better deal, but the item they need.
You cant eat gold.
You alway gain in an exchange, otherwise no exchange. It is all a matter of subjective desires of both sides of the trade. Money, of any sort, is nothing more than a way to exchange what you have for what someone else has as a intermediary. Gold is just an intermediary, BTC is just an intermediary and wampum was just an intermediary.
reply
Minor correction: trades aren't necessarily mutually beneficial, but each party expects to benefit from a voluntary exchange.
reply
I guess I have forgotten what a minor correction trade is. Could you refresh me, please?
reply
ex ante vs ex post
You may regret a trade, after the fact, but expected to gain from it before hand.
reply
People often have buyers remorse! That is called tough sh*t! The trade would not have gone off without both sides thinking they would gain on the trade. You just have to be sure of what you want before you trade.
reply