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Summary
One of the first things that every child learns, whether human or non, is this: magic is about sacrifice. For everything gained—material or not—something is lost.
Alchemy, while also centered on exchanges of this type, differs in that magical exchanges are entirely subjective. What is lost and what is gained in a magical exchange are of equal personal value to the one initiating the trade. A breath for a spare moment of time. A precious heirloom for the cure to an ailment.
One who wishes for something great must always bear in mind how much they are willing to lose.

