Bitcoin is cryptographic alternative of fiat and current payment systems, to make everything clear I mean that Bitcoin/Monero is mostly used as a payment method which is fast, cheap and anonymous compared to others.
Just tell me, when you pay with debit card, what happens here? It's just a transfer of numbers from one place to another, absolutely same happens on bitcoin too and it's not language manipulation.
Also fiat money isn't created when bank grants a loan, money is just moving and if someone is rich it's because you are poor and it will be like this always.
Topic: Bitcoin is a scam that thrives on language manipulation - page 5. (Read 746 times)
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
This is retarded.
Bitcoin can do everything what FIAT money does, except the inflation which is a feature.
the FED can create infinite amounts of Dollars but there will be only 21 million bitcoins. No central bank has the power to create more coins.
If we start from a simple and undeniable fact that SOMETHING cannot appear or despair by changing entries in a database, then it is obvious that so called Block Reward, which is just an algorithmic change of entry in a database(blockchain) — from 0 to 50 initially, is actually the creation of NOTHING or nothingness. But people did something strange — they gave a fancy name to this nothingness — Bitcoin. So, a mere change of entry in a database is given a name, which is in itself a bizarre thing to do. But anyhow, here is where the language manipulation kicks in. Changing entries is obviously just a database management and it belongs to the field of informatics. But what people did is they took the definition of "payment" - which belongs to the field of economy, and they copy/pasted that definition next to the phrase — "change of entry in a database". This created the illusion that when you change entry in a database(blockchain) you are actually transferring SOMETHING to another person, i.e. that you are paying. But payment is transfer of SOMETHING (rights, services or goods) from one person to another.
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.
This is not accurate, payment is not the transfer of just services rights or goods, it can also be money if there is a consensus between a group of people that X is worth Y - then that thing is viewed as valuable. Usually due to some sort of utility or feature that it possesses.
Here you see the birth of programmable money, not issued by a state but rather founded in cryptography, accountability is achieved via a transparently distributed ledger.
You are arguing from an angle based on what looks like clear bias, there are several accounts in history where people agreed upon something having X value and traded it as such, this is what happened here. People see the utility this thing has and agreed that the market value is X.
It is just social economics and math + some good utility at play.
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
This is retarded.
Bitcoin can do everything what FIAT money does, except the inflation which is a feature.
the FED can create infinite amounts of Dollars but there will be only 21 million bitcoins. No central bank has the power to create more coins.
If we start from a simple and undeniable fact that SOMETHING cannot appear or despair by changing entries in a database, then it is obvious that so called Block Reward, which is just an algorithmic change of entry in a database(blockchain) — from 0 to 50 initially, is actually the creation of NOTHING or nothingness. But people did something strange — they gave a fancy name to this nothingness — Bitcoin. So, a mere change of entry in a database is given a name, which is in itself a bizarre thing to do. But anyhow, here is where the language manipulation kicks in. Changing entries is obviously just a database management and it belongs to the field of informatics. But what people did is they took the definition of "payment" - which belongs to the field of economy, and they copy/pasted that definition next to the phrase — "change of entry in a database". This created the illusion that when you change entry in a database(blockchain) you are actually transferring SOMETHING to another person, i.e. that you are paying. But payment is transfer of SOMETHING (rights, services or goods) from one person to another.
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.
For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.
But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.
This is not accurate, If there is a consensus between a group of people that X is worth Y - then that thing is viewed as valuable. Usually due to some sort of utility or feature that it possesses.
Here you see the birth of programmable money, not issued by a state but rather founded in cryptography, accountability is achieved via a transparently distributed ledger.
You are arguing from an angle based on what looks like clear bias, there are several accounts in history where people agreed upon something having X value and traded it as such, this is what happened here. People see the utility this thing has and agreed that the market value is X.
It is just social economics and math + some good utility at play.
If we start from a simple and undeniable fact that money cannot appear by just adding numerical entries into a database(DB), then it is obvious that so called Block Reward, which is just an algorithmically added numerical entry (50 initially) into a DB called blockchain, is NOT the creation of money. In other words, adding entries into the DB (blockchain) is just a database management process that belongs to the field of informatics and NOT money creation process that belongs to the field of economy.
Throughout all human history money has always been - either commodity or certificate that grants specific rights. Current (FIAT) money, like dollars, are such certificates. Namely, dollars are put into circulation when banks grant loans to borrowers - who then use these dollars to purchase goods and services from individuals - who then become dollar holders. But, since borrowers are obligated to make their loan payments they needed dollars back. How will they get them? Well, they obviously must produce some goods or services so that dollar holders can buy them and in that way fund salaries or revenue of borrowers. With salaries and revenue borrowers will get dollars for their loan payments while dollar holders will get goods and services. If borrowers fail to provide goods and services, and thus default on their loan payments, the banks will activate collaterals and instead of goods and services, sell borrowers land, cars, houses... to dollar holders. Thus, in a nutshell, FIAT money, either paper or digital, is debt certificate that grants its holder the RIGHT to goods, services or collateral of borrowers.
As we can see, MONEY is either commodity or certificate that grants specific rights. Even casino chips are form of money as they grant specific rights, i.e. - casinos are legally obligated to cash chips they issued. On the other hand, when numbers are added next to someone's virtual address in a DB called blockchain, NOBODY is legally obligated to cash these numbers or to exchange them for goods or services, which means that no right is granted by bitcoin. Also, bitcoin is not a commodity. That's why bitcoin is NOT money. Bitcoin is just a fancy name for a DB entry.
But what people did is something strange and bizarre. Namely, they took (stole) the definition of "payment" from the field of economy, and copy/pasted that definition over the text that defines informatic concept of adding entries into a DB. In that way the illusion was created that by adding numerical values into the blockchain one is actually paying. But in reality, no payment is occurring as neither goods/services nor granted rights (certificates) are transferred from one person to another. In other words, the economic definition of "payment" is this: a transfer of goods(commodity), services or rights from one person to another, while in the case of bitcoin, NOTHING is transferred, but only numerical entries are added into the DB.
So, the whole bitcoin system is just a database management system, while bitcoin is just a DB enty. And calling a DB management system a payment system, and a DB entry a money is nothing but a language manipulation. That is why bitcoin is a scam that thrives on language manipulation. In this scam, a numerical mark is added into the DB when uneducated, naive, or greedy individuals give their valuable possessions to unknown persons for free.
Throughout all human history money has always been - either commodity or certificate that grants specific rights. Current (FIAT) money, like dollars, are such certificates. Namely, dollars are put into circulation when banks grant loans to borrowers - who then use these dollars to purchase goods and services from individuals - who then become dollar holders. But, since borrowers are obligated to make their loan payments they needed dollars back. How will they get them? Well, they obviously must produce some goods or services so that dollar holders can buy them and in that way fund salaries or revenue of borrowers. With salaries and revenue borrowers will get dollars for their loan payments while dollar holders will get goods and services. If borrowers fail to provide goods and services, and thus default on their loan payments, the banks will activate collaterals and instead of goods and services, sell borrowers land, cars, houses... to dollar holders. Thus, in a nutshell, FIAT money, either paper or digital, is debt certificate that grants its holder the RIGHT to goods, services or collateral of borrowers.
As we can see, MONEY is either commodity or certificate that grants specific rights. Even casino chips are form of money as they grant specific rights, i.e. - casinos are legally obligated to cash chips they issued. On the other hand, when numbers are added next to someone's virtual address in a DB called blockchain, NOBODY is legally obligated to cash these numbers or to exchange them for goods or services, which means that no right is granted by bitcoin. Also, bitcoin is not a commodity. That's why bitcoin is NOT money. Bitcoin is just a fancy name for a DB entry.
But what people did is something strange and bizarre. Namely, they took (stole) the definition of "payment" from the field of economy, and copy/pasted that definition over the text that defines informatic concept of adding entries into a DB. In that way the illusion was created that by adding numerical values into the blockchain one is actually paying. But in reality, no payment is occurring as neither goods/services nor granted rights (certificates) are transferred from one person to another. In other words, the economic definition of "payment" is this: a transfer of goods(commodity), services or rights from one person to another, while in the case of bitcoin, NOTHING is transferred, but only numerical entries are added into the DB.
So, the whole bitcoin system is just a database management system, while bitcoin is just a DB enty. And calling a DB management system a payment system, and a DB entry a money is nothing but a language manipulation. That is why bitcoin is a scam that thrives on language manipulation. In this scam, a numerical mark is added into the DB when uneducated, naive, or greedy individuals give their valuable possessions to unknown persons for free.
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