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Investing in cryptocurrencies can be considered as a zero-sum, positive-sum, or negative-sum game, depending on the situation.:
1. **Zero amount**: In speculation, one investor's profits are offset by another's losses. The market here acts as a closed system, where price growth is ensured only by the willingness of others to buy more expensive.
2. **Positive Sum**: When the market and technology evolve, new value is created. An example is Ethereum, used for smart contracts. Successful projects can bring profits to many participants.
3. **Negative amount**: Considering fees, taxes, fraud or collapse, part of the capital is lost. An example is the collapse of Terra/LUNA in 2022, where many investors suffered losses.
As a result, cryptocurrencies combine all three scenarios: for traders, it is often a zero amount, for investors in promising projects — a positive amount, and in a crisis or fraud — a negative amount. 1 reply
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