Topic: Bitcoin is the most nonsensical invention in human history - page 4. (Read 20407 times)

Bitcoin is an asset backing up a technology at the end, even if not in the technical way but it is in the practical one.

In the future will be evident, that Bitcoin and especially the technology behind it are one of the greatest inventions of our generation. It just take a bit of imagination and the right people to make it happen.

The revolution started my friend.

I think I saw some other threads of this OP get locked by a mod.
It's not difficult to notice he's trolling anc calling it nothing in your face to make you try to persuade him and then he'll come and shove it back at you with a grin.
Let this thread die in peace!

I believed that Bitcoin helped a lot of community many years ago, and many companies too also accepted it as ode of payment to their business as well. So the topic in the above was just a kind of FUD only. I am very sure also that a lot of people who are bitcoin fanatic was also thankful to Mr. Satoshi Nakamoto for inventing this virtual currendcy which is Bitcoin including myself too.

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yes nothing is ridiculous, bitcoin is the greatest invention in my opinion and best in currency records, bitcoin is able to change people's lives quickly, yes even though it's a lot of obstacles about falling prices and bad market conditions. but it is normal and a risk that we must accept.

The same goes with fiat currencies bud! You are giving up ownership of some thing to get ownership of bits of paper.
The value of money is the same, the thing is that cash is here replaced by cryptocurrency.
If this makes the invention of bitcoin ridiculous then I wonder how ridiculous would it be to use fiat currency. We can't
I believe I have made the point and comparison clear.

Your post is "is the most nonsensical invention in human history"... after the finantial crisis of 2008, there is no doubt that social order needed a change urgently. We shouldt depend that much on banks and goverments.. that was pretty clear in the last decade! thanks God we got BTC today!

If I had Bitcoin('nothing'), why would I sell it for $1 if there are 'greater fools' who will pay $3.5K USD for 'nothing'? The fact that Bitcoin is ownership of nothing doesn't mean I am stupid.

your whole problem which is obvious from your posts here is that you are too caught up in only one way (government printing limitless money as they please and fully control everything) that you are having a very hard time accepting the fact that it is not the only way to have a "currency". in fact it is not even the first method of creating a currency. it was introduced recently and was widely accepted everywhere because a group could take the whole power in their hands.

If you're certain that's the logic, why not take this user up on their generous offer?  You're getting something for nothing then, right?

I diagree with you that bitcoin is the most ridiculous invention ever made in recent times.
When we talk about bitcoin, we are talking about the blockchain technology.
Besides, you can't judge the invention of bitcoin using the prevailing market conditions, as a matter of fact , bitcoin is still at it's early developmental stahlge and so there are still much rooms for improvement.
Blockchain technology has been adjudged the biggest technology invented in recent times.

Definitely yes! It is the most useful and valuable invention of millenials. We just do not know its real use because we made it for profits. But I assure that later on, all of us will give thanks to Satoshi Nakamoto because our life becomes good and easy. All of things can be bought all around the world without any interference specially, the legal one. And lastly, for the world to become one. It is because of cryptocurrency which made by satoshi.

You have two groups of people - those willing to borrow goods and services and those willing to lend goods and services. Fiat currencies are instruments that connect these two groups. Plain and simple. Eventual problems with these instruments have nothing to do with Bitcoin. Bitcoin is not lending your goods or services to miners  - Bitcoin is giving your goods and services for digit alteration. So, given your logic, the solution for the problems that occur with instruments that enable borrowing and lending goods and services, is to give your goods and services for free. Are you serious or are you joking?

Digital currency isn't a joke and it have a market value just like of bitcoin.  I know many were still doubts about these and exactly they don't know anything about it.
We are using digital form of payment before bitcoin's creation just like ATM and we are integrated into it.
Bitcoin doesn't have value for those people who only think nega but for us,  it is over valued.

In fact, there are different opinions about what bitcoin can be attributed to. Someone considers it a currency, someone considers it investment instrument and someone equates it with gold. But to call bitcoin an empty place is wrong, I believe. If he has any value, it means something.

You don't need collateral to have an overdraft.  New fiat digits are always on hand to appear out of nowhere if they're needed.  Any excuse will do.  And it has become wholly reckless.

You can claim it's all based on the ownership of "debt certificates", but in the grand scheme of things, the system can't cope with the entire debt being paid back.  If that happened, there wouldn't be enough "money" (read: debt) left in the economy for it to function.  What's the sense in having ownership of a debt that can never be repaid without destroying the economy?  Hence the need to create ever-increasing quantities of "money" (debt) from nothing.  You can describe it a loan contract to make it appear as something rational, but it's still ridiculous in practice.  If the average person had even the slightest idea about how the banking system really worked, they'd be far more skeptical of it.

Bitcoin solves this insanity.  It proves beyond doubt that you don't need debt for an economy to function.  Debt may have some advantages, but it has enough disadvantages that people would naturally want an alternative.  And that's precisely what Bitcoin gives them, along with numerous other benefits like privacy and freedom.  Call it "nothing" all you like.  It's everything to some people.

The interest of majority is to gain some profit. Most of the people even do not care what bitcoin is, the only thing that they care is a possibility to be richer tomorrow than they are today. In theory it can sound ridiculous but I believe that there are people that gain lots of fortune and for them, investing in something called bitcoin turn to be the best investment of their life.

No, you are getting huge income from other people's investments. Bitcoin is just a fancy name for digits - i.e. mathematical abstractions. Abstractions cannot generate income.

Wrong. The money in bank account is created out of loan contract and collateral. Watch the video.

Except that's precisely how the money in your bank account works.  The entire global economy is built on something appearing from nothing.  Try again.