logoalt Hacker News

globular-toasttoday at 9:54 AM0 repliesview on HN

What is there to get? Do you get sports betting or lotteries? People play games. They invent arbitrary rules with real consequences and try to "win".

Back in school we used to do things like "dare" people to do something or bet on a coin toss or something with the stakes being a snack or a desirable bit of stationery. I feel like everyone believes there is some clear boundary where things suddenly become "grown up" and "real". Do you remember when you became "grown up"? No? Nobody does. The secret is it never happens. The only difference is children have no "real" assets to play with.

What makes some derivative traded on Wall Street, like a "synthetic CDO", any more or less meaningful than alt coins?