Pages:
Author

Topic: Bitcoin is the most nonsensical invention in human history - page 2. (Read 20407 times)

sr. member
Activity: 1470
Merit: 325
In short:
Fiat is based on debt, Bitcoin is based on trust.
I know what I prefer!

fiat is also based on trust,

bitcoin is based on attention,

if bitcoin loses attention it also loses value.
member
Activity: 139
Merit: 13
When comparing bitcoin with real world assets like real estates, Gold, Company shares and fiat currencies yes it seems like a ridiculous invention mainly because we are not use to it in the past and it is not tangible like other assets but it holds a similar or more value like any other commodity because investors and traders has given a value for it so doesn't matter it seems like ridiculous from the out side bitcoin have every feature to become a trading asset in a market
hero member
Activity: 1568
Merit: 502
Yes. Bitcoin is the most ridiculous invention ever.

But we must have to take it in a positive way, not in negative.

Actually, it has no value but just because of its characteristic to transact and trade online against fiat take itself much higher. Along with this feature, Bitcoin is based on a blockchain platform, this also takes bitcoin to uniqueness and transparency. But what about actual usage.
member
Activity: 397
Merit: 10
Bitcoin is not just worthless because is exist in digit because it a mathematical computer coding and at that it will have it worth at the end because the bitcoin network have it own worth and even if it dollars rate reduced to nothing the real quantity still remains the same and once the worth rise again it will bounce back to it ever rising rate.
Bitcoin is coding in a computer network that is interrelated between users, so that data released or entered into the network are all known to each other, so there is no leakage or manipulation.
So from that the price created is not related to other fiat currencies such as the dollar, but on the basis of agreement on the results of buying and selling in the market that is in the network.
This is not something ridiculous, but a discovery that revolutionized the financial system that has been carried out for tens or hundreds of years.
jr. member
Activity: 274
Merit: 2
Well it depends on how you viewed it, how you see it.. maybe to some yes it is, but for some it is not, because no matter how ridiculous it is there are still people who believe on it, accept it and invest in it because they see in the past how people profit from it, and how bitcoin affect the ones' economy, people and community. It was made with a purpose and those who believe on it benefit from it as well.

You talk about Bitcoin like it is something, like it is an actual thing or even a person: "see it", "believe in it", "invest in it", "profit from it", "benefit from it". Unfortunately Bitcoin is just a fancy name for changed digits in a distributed spreadsheet, it is just a mathematical abstraction, and not an actual thing. Actual things don't appear or disappear by changing digits. People profited or benefited from other people's actual things like dollars, goods or services, not from changed spreadsheet digits. No one can benefit from that. No one can benefit from Bitcoin.
full member
Activity: 616
Merit: 100
FRX: Ferocious Alpha
Well it depends on how you viewed it, how you see it.. maybe to some yes it is, but for some it is not, because no matter how ridiculous it is there are still people who believe on it, accept it and invest in it because they see in the past how people profit from it, and how bitcoin affect the ones' economy, people and community. It was made with a purpose and those who believe on it benefit from it as well.
member
Activity: 518
Merit: 10
this is a very surprising discovery from this field we can learn and look for a golden opportunity to get points of happiness in the future as long as we do it carefully and focus and be patient to hold it because besides that I also keep paying attention to the rising market situation down we can only be patient and try.
jr. member
Activity: 274
Merit: 2
In short:
Fiat is based on debt, Bitcoin is based on trust.
I know what I prefer!

Ponzi is also based on trust. So?
And Charles Ponzi shares the same fame as Satoshi Nakamoto? Hmm! I think thst the OP sees Bitcoin as ridiculous is a misconstrued perception, though I admit he's entitled to his opinion. Cryptocurrency is the greatest invention of this century.

Both, Charles Ponzi and Satoshi Nakamoto created a system for getting other people's ownership of SOMETHING and giving ownership of NOTHING in return. In that sense, they share the same fame, it is just that people are ignorant of the above fact, because of the false public narrative and language manipulation where digit alterations in a database is called money or asset, which is nonsense of a high order.
jr. member
Activity: 274
Merit: 2
Even though you think bitcoin is the most ridiculous invention, but I think you believe and have hope to get profit from bitcoin.
That would mean that I first have to give SOMETHING(money, goods or services) for NOTHING (Bitcoin - which is the name given to changed digits in a database/blockchain). And I would never do something like that.
jr. member
Activity: 274
Merit: 2
Yes it may be the most ridiculous invention so far in human history but it has made a lot of difference people get rich and all of that also its still better than fiat

It is not Bitcoin what made a lot of people get rich, as Bitcoin is just means to get other people's possessions without giving anything in return. All investment scams have one thing in common: one gets rich by getting other people's possessions and giving NOTHING in return. And this is how a lot of people got rich in the case of Bitcoin. Denying that means that SOMETHING can appear by changing digits in a database(blockchain), and that is of course impossible.
legendary
Activity: 2716
Merit: 1225
Once a man, twice a child!
In short:
Fiat is based on debt, Bitcoin is based on trust.
I know what I prefer!

Ponzi is also based on trust. So?
And Charles Ponzi shares the same fame as Satoshi Nakamoto? Hmm! I think thst the OP sees Bitcoin as ridiculous is a misconstrued perception, though I admit he's entitled to his opinion. Cryptocurrency is the greatest invention of this century.
jr. member
Activity: 274
Merit: 2
I disagree with this statement, bitcoin is not a funny and not a ridiculous invention. This is a technology that can seriously change the entire financial sphere, we only need to take it to the full.

Bitcoin is not technology, but a fancy name for digits in the blockchain.The only purpose of technology behind it, is to change, store and secure these digits. Hence, this is just a database management system, and has nothing to do with finance.
full member
Activity: 1554
Merit: 116
0xe25ce19226C3CE65204570dB8D6c6DB1E9Df74AC
Paper gold are the king of nothingness and the crooked bank continue to sell it.
My point is nothing wrong by turning money into paper gold, it is perfectly legit.
Ucy
sr. member
Activity: 2674
Merit: 403
Compare rates on different exchanges & swap.
Still better than fiat.
Bitcoin allows you to control your Private keys, fiat doesn't. Digital fiats are way worse. They are centralized and in digital form too.
You have zero option with Fiat because it is always controlled by your banks.
hero member
Activity: 1526
Merit: 501
DGbet.fun - Crypto Sportsbook
I disagree with this statement, bitcoin is not a funny and not a ridiculous invention. This is a technology that can seriously change the entire financial sphere, we only need to take it to the full.
Why do you know it is a technology that can change the financial sector, you have proof to prove this or what you say is just news, information that you read on different forums, it has nothing to authenticate. I don't know your answer to my question but I feel that you only have confidence in bitcoin, you believe in what's great about bitcoin that others say, bitcoin is the most ridiculous invention or a good technology that can change finance, no one knows about this, and this is not so important, we don't need to argue, as long as we know we can make money with it, that's enough
newbie
Activity: 54
Merit: 0
In short:
Fiat is based on debt, Bitcoin is based on trust.
I know what I prefer!

But trust is better than debt!
If you reason like this, then you can do nothing at all and trust nothing. It makes no sense.
I believe that Bitcoin is not just a fundamentally new cryptocurrency. I believe that this is the currency of the future, which will allow you to avoid inflation and many other problems of fiat currency!
full member
Activity: 714
Merit: 114
If I am the owner of Western Union or Moneygram I would really say that its ridiculous, its killing the remittance business. Imagine if I am going to send $280 USD worth of BTC, it will cost me less than $0.50 but if I use Western Union, a $280 USD money transfer will cost $11. Imagine $11 versus $0.50. that's a difference of 2,100%

If you send a selfie to your friend, via e-mail system for e.g.  this is also cheap. Point? Sending Bitcoin is cheap because Bitcoin is just a series digits. Digits are mathematical abstraction, i.e. ownership of nothing and why would such transfer be expensive. But when you have to transfer the ownership of something, i.e. dollars - which are certificates of debt that have loans contracts, collaterals and banks behind them, then of course that transferring something like that is costly. It's pretty simple. You cannot compare sending digits and sending money.

Yes its cheap . using online or the internet to send and recieve stuffs are more convinient and cheap  compare to the traditional systems  .  in the case of bitcoin , not all times we can send a transaction with a cheap cost because the fees are also dependent on its current value .

@nydiacaskey01 , if you are th owner local money remitance then you dont need to worry on crypto payments because many peeps will prefer your service as it is more easy and faster .  crypto are also hard to use to some peeps especially if they are older enough and not into the techy stuffs .
sr. member
Activity: 700
Merit: 250
for me bitcoin is not a ridiculous discovery, if indeed bitcoin is ridiculous, why do you follow bitcoin. the current decline is very far from the increase first, but that doesn't mean you can arbitrarily think that bitcoin is a ridiculous invention. because bitcoin has so far developed and helped us. only now is there just an accident.
member
Activity: 952
Merit: 41
Bitcoin is not just worthless because is exist in digit because it a mathematical computer coding and at that it will have it worth at the end because the bitcoin network have it own worth and even if it dollars rate reduced to nothing the real quantity still remains the same and once the worth rise again it will bounce back to it ever rising rate.
hero member
Activity: 2422
Merit: 875
https://youtu.be/pSbSKGDypPY

The above video shows that by buying Bitcoin one is selling ownership of something and buying ownership of nothing. This is because Bitcoin is just a fancy name for changed digits, and the fact is that something cannot appear or disappear by changing digits. Since Bitcoin is the first time in human history that people voluntarily and massively give up something to become the owners of absolutely and literally nothing, this makes Bitcoin the most ridiculous invention ever made.

Unfortunately, you think very shallowly.Imagine that in your country where you live there was a default and the national currency completely ceased to have any value?If you want to buy a product or service with a resident of another country, offering to pay in your own currency.Do you think such a deal will happen?The obvious answer is no.Bitcoin is a completely different currency that has no inflation and its value grows every day.And a bitcoin transaction will always happen.

This already happen in IRAN where their currencies went too low in values due to US sections, due to which value of bitcoin sky rocketed there. People rushed to convert their dying currencies into bitcoins.
Also when the world will face Economic crisis, everyone will buy bitcoins and that is the real currency for the future time.
Pages:
Jump to: