That is price unpacking a bit. To begin with, what do I imply by “buying and selling”? For the needs of this dialogue, “buying and selling” includes the shopping for and promoting of crypto belongings and associated derivatives on a short while horizon with a view to creating a revenue. I additionally keep in mind people and establishments who explicitly are there to make a revenue based mostly on their selections, reasonably than market makers who commerce based mostly on shopper strikes and who present a obligatory market infrastructure perform. In fact, this can be a simplification, however it helps to distinguish “buying and selling” from longer-term “investing.”
