Bitcoin might be a desperate get-rich-quick scheme. However, the odds are not as small as Eliezer’s lottery. Also, some people use it to purchase illegal goods and services, so there’s that. There are similarities, but there are also important differences. Also, there is an upper limit to how much you can lose with the lottery—not so with crypto.
In short, crypto currencies are similar to Eliezer’s lottery only to the extent that all day trading is gambling. Which is true often enough, but not always.
Bitcoin might be a desperate get-rich-quick scheme. However, the odds are not as small as Eliezer’s lottery. Also, some people use it to purchase illegal goods and services, so there’s that. There are similarities, but there are also important differences. Also, there is an upper limit to how much you can lose with the lottery—not so with crypto.
In short, crypto currencies are similar to Eliezer’s lottery only to the extent that all day trading is gambling. Which is true often enough, but not always.