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Topic: How Satoshi Nakamoto Fooled the World - page 12. (Read 8888 times)

sr. member
Activity: 1666
Merit: 453
July 06, 2022, 03:15:24 AM
I want to ask if you currently have bitcoins, will you throw them out for free? or is today's world so stupid that many people want to invest in bitcoin? I was just wondering how smart do you think this is?

Let me return the question to you, let's assume you have a Bitcoin now, can you throw it away for free even though it has fallen big in the market? Then let me ask you, do you currently hold bitcoin no matter how much in your bitcoin wallet address? and if you have bitcoin right now, do you think it was a fool to buy bitcoin?

Buying bitcoin so far even the price dropped so well in the market I could say it is a wise decision for  me  then hold, because bitcoin is really a good investment up to now.

hero member
Activity: 2380
Merit: 586
July 06, 2022, 01:07:48 AM
Also, to prove your point in other practical terms, maybe you should tell/present this to some of the taxing agencies and ask why they are taxing 'numbers' made up from software and that you won't be paying any taxes on 'paper numbers' that were gifted to you.
jr. member
Activity: 252
Merit: 1
July 06, 2022, 01:02:40 AM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
You're just repeating irrelevant stuff and refuting nothing. Your personal opinion on debt won't change the fact that debt is a resource that provides utility at settlement. Bitcoin is indeed a unit of Nakamoto's imaginary number. Network that transfer the units of that number cannot magically turn these units into resources. So it's completely irrelevant on what protocols it operates.

Likewise your supposedly correct definition/opinion of whatever imaginary number you talk about will not change the fact that that is one of the key properties your shiat coin lacks and therefore makes it (your shiat coin) a deflacionary crap that is filling your pockets of 0 value, backed by 0 resources (which some chose to call trust in government).

You're refutting nothing either. Just because your moaning over and over again that Bitcoin is just transferring bla bla bla bla resources, doesn't makes it true, but for you!

Keep trying!
Debt is not based on trust. But on legally enforceable loan contracts and collaterals.

More clockwork. More irrelevant stuff. More attempt of brainwashing. You just don't get it that you won't make your point. Your shiat coin will never be able to compete with any other form of sound money. Just because it can't, by concept, by definition, etc. It doesn't have the properties to make it thrive nor give people power to build better lives, build low time preference and build wealth. It leads to poverty, to distrust, to conflicts and high time preference. But you won't even understand what I just said!
I know that dollars and all fiat currencies are worthless. Shit. Crap. I mean, they are just numbers written on paper or digitally. That's worthless. Just like invoices. They are also worthless. But the point is that fiat currencies, invoices and other documents just express the quantity of resources. Resources are what has value because they provide utility to people. Resources like products, labor, debt, patents, capital and so on. In Nakamoto scheme no resources exist. The scheme just transfers numbers between people. That's all. And people currently pay $20k to get number "1" transferred to their addresses. Which is a pure nonsense, craziness.
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 05:00:46 PM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
You're just repeating irrelevant stuff and refuting nothing. Your personal opinion on debt won't change the fact that debt is a resource that provides utility at settlement. Bitcoin is indeed a unit of Nakamoto's imaginary number. Network that transfer the units of that number cannot magically turn these units into resources. So it's completely irrelevant on what protocols it operates.

Likewise your supposedly correct definition/opinion of whatever imaginary number you talk about will not change the fact that that is one of the key properties your shiat coin lacks and therefore makes it (your shiat coin) a deflacionary crap that is filling your pockets of 0 value, backed by 0 resources (which some chose to call trust in government).

You're refutting nothing either. Just because your moaning over and over again that Bitcoin is just transferring bla bla bla bla resources, doesn't makes it true, but for you!

Keep trying!
Debt is not based on trust. But on legally enforceable loan contracts and collaterals.

More clockwork. More irrelevant stuff. More attempt of brainwashing. You just don't get it that you won't make your point. Your shiat coin will never be able to compete with any other form of sound money. Just because it can't, by concept, by definition, etc. It doesn't have the properties to make it thrive nor give people power to build better lives, build low time preference and build wealth. It leads to poverty, to distrust, to conflicts and high time preference. But you won't even understand what I just said!
jr. member
Activity: 252
Merit: 1
July 05, 2022, 04:57:00 PM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
You're just repeating irrelevant stuff and refuting nothing. Your personal opinion on debt won't change the fact that debt is a resource that provides utility at settlement. Bitcoin is indeed a unit of Nakamoto's imaginary number. Network that transfer the units of that number cannot magically turn these units into resources. So it's completely irrelevant on what protocols it operates.

Likewise your supposedly correct definition/opinion of whatever imaginary number you talk about will not change the fact that that is one of the key properties your shiat coin lacks and therefore makes it (your shiat coin) a deflacionary crap that is filling your pockets of 0 value, backed by 0 resources (which some chose to call trust in government).

You're refutting nothing either. Just because your moaning over and over again that Bitcoin is just transferring bla bla bla bla resources, doesn't makes it true, but for you!

Keep trying!
Debt is not based on trust. But on legally enforceable loan contracts and collaterals.
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 04:56:38 PM
There's an entire economy built around this currency, network and technology. You can continue whining about non-existent resources as much as you want, but that won't make it true.

Better just leave this place. Nobody seems to understand you, let alone agree with you.



Back to ignore.
Yeah, of course. There's an entire economy that profits nicely from transfers of numbers in Nakamoto scheme. But still, no resources are transferred in this scheme.

Not to mention the ones that stick their hands in your pockets, steal from you, you valueless shiat coin and you simply enjoy it and stand for it. So let it be. Just don't try to inflict supid ideas, wrong concepts and misleading fake statements into others. They are already brainwashed by your government friends, socialism and democracy!
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 04:54:25 PM
Money can be whatever resource that provides utility to people.
You're the only person left who still doesn't recognize at least one utility. Meanwhile, we're enjoying benefits that are otherwise impossible to gain.

Benefits such as:
  • Internet privacy
  • Cheap transaction fees via the internet
  • Nearly instant transaction settlement via the internet
  • Censorship resistance in electronic transactions

You don't gain any of those in fiat. That's why it's valuable. That's what we're all years now purposelessly trying to tell you.
These aren't benefits, but concepts created by the imagination of participants of Nakamoto scheme. There aren't any transactions in this scheme. A transaction is a transfer of a resource, and it is the resource what provides utility to people. Nakamoto scheme transfers numbers, not resources.

There you are trying to force your non-sense onto others. Make a move and try to detach your brains from your stupidity, because your brains won't take it for much longer!
You keep saying things thinking they are the absolute truth, yet, you cannot even acknknowledge anything that is being explained to you via countless concepts, ideas, studies and years of research made by great minds. Not those that control your little ass at their will.

Stop being stupid. Slap yourself once or twice and wake the fuck up!
jr. member
Activity: 252
Merit: 1
July 05, 2022, 04:52:43 PM
There's an entire economy built around this currency, network and technology. You can continue whining about non-existent resources as much as you want, but that won't make it true.

Better just leave this place. Nobody seems to understand you, let alone agree with you.



Back to ignore.
Yeah, of course. There's an entire economy that profits nicely from transfers of numbers in Nakamoto scheme. But still, no resources are transferred in this scheme.
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 04:51:01 PM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
You're just repeating irrelevant stuff and refuting nothing. Your personal opinion on debt won't change the fact that debt is a resource that provides utility at settlement. Bitcoin is indeed a unit of Nakamoto's imaginary number. Network that transfer the units of that number cannot magically turn these units into resources. So it's completely irrelevant on what protocols it operates.

Likewise your supposedly correct definition/opinion of whatever imaginary number you talk about will not change the fact that that is one of the key properties your shiat coin lacks and therefore makes it (your shiat coin) a deflacionary crap that is filling your pockets of 0 value, backed by 0 resources (which some chose to call trust in government).

You're refutting nothing either. Just because your moaning over and over again that Bitcoin is just transferring bla bla bla bla resources, doesn't makes it true, but for you!

Keep trying!
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
July 05, 2022, 03:00:57 PM
There's an entire economy built around this currency, network and technology. You can continue whining about non-existent resources as much as you want, but that won't make it true.

Better just leave this place. Nobody seems to understand you, let alone agree with you.



Back to ignore.
jr. member
Activity: 252
Merit: 1
July 05, 2022, 02:42:56 PM
Money can be whatever resource that provides utility to people.
You're the only person left who still doesn't recognize at least one utility. Meanwhile, we're enjoying benefits that are otherwise impossible to gain.

Benefits such as:
  • Internet privacy
  • Cheap transaction fees via the internet
  • Nearly instant transaction settlement via the internet
  • Censorship resistance in electronic transactions

You don't gain any of those in fiat. That's why it's valuable. That's what we're all years now purposelessly trying to tell you.
These aren't benefits, but concepts created by the imagination of participants of Nakamoto scheme. There aren't any transactions in this scheme. A transaction is a transfer of a resource, and it is the resource what provides utility to people. Nakamoto scheme transfers numbers, not resources.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
July 05, 2022, 12:52:06 PM
Money can be whatever resource that provides utility to people.
You're the only person left who still doesn't recognize at least one utility. Meanwhile, we're enjoying benefits that are otherwise impossible to gain.

Benefits such as:
  • Internet privacy
  • Cheap transaction fees via the internet
  • Nearly instant transaction settlement via the internet
  • Censorship resistance in electronic transactions

You don't gain any of those in fiat. That's why it's valuable. That's what we're all years now purposelessly trying to tell you.
jr. member
Activity: 252
Merit: 1
July 05, 2022, 12:33:56 PM
Money is not and it cannot
Money can be whatever we want. Period. You hold no power to dictate what's money, what we're allowed to consider as money. The world you live in is consisted of people who make actions completely contradictory to your limited and conservative ideology. Our arguments concur with our perspective, you've just deliberately limited your mind, and find them invalid. But, we don't. Call us crazy, scammers, idiots if you that pacifies you mentally.

But, you ought to admit it: We outnumber you; you're the only person left with this belief. And we've debunked the shit out of you in such way that every rational person, who's unfortunate enough to come across your big pile of shitposts which reveal how obnoxious little doughhead you are, understands you're objectively wrong.

Perhaps it's time to acknowledge you are the problem and move on? Preferably to some sort of therapist.
Money can be whatever resource that provides utility to people. The problem is that Nakamoto scheme is completely void of any resources. That's the reason why the current scheme participants must wait new suckers to join in, and bring the resources.
jr. member
Activity: 252
Merit: 1
July 05, 2022, 12:30:11 PM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
You're just repeating irrelevant stuff and refuting nothing. Your personal opinion on debt won't change the fact that debt is a resource that provides utility at settlement. Bitcoin is indeed a unit of Nakamoto's imaginary number. Network that transfer the units of that number cannot magically turn these units into resources. So it's completely irrelevant on what protocols it operates.
legendary
Activity: 1512
Merit: 7340
Farewell, Leo
July 05, 2022, 08:49:38 AM
Money is not and it cannot
Money can be whatever we want. Period. You hold no power to dictate what's money, what we're allowed to consider as money. The world you live in is consisted of people who make actions completely contradictory to your limited and conservative ideology. Our arguments concur with our perspective, you've just deliberately limited your mind, and find them invalid. But, we don't. Call us crazy, scammers, idiots if that pacifies you mentally.

But, you ought to admit it: We outnumber you; you're the only person left with this belief. And we've debunked the shit out of you in such way that every rational person, who's unfortunate enough to come across your big pile of shitposts which reveal how obnoxious little doughhead you are, understands you're objectively wrong.

Perhaps it's time to acknowledge you are the problem and move on? Preferably to some sort of therapist.
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 05:18:27 AM


It seems like you fail to understand what Bitcoin is, no matter how articulate you may be and falsely assign a nefarious motive to Satoshi's actions. Satoshi has not benefited at all from the Bitcoin holdings that are still tied together in his name from the earliest mining, they've stayed in the same wallets all this time and it was only many years afterwards it reached unimaginable heights from such humble beginnings. It is the people who speculate with the value of Bitcoin who are deceiving each other - it is simply a currency like any other and is worth whatever the mass of people who share the world decide it is worth as a unit of trade. You are attributing the malicious actions and schemes of others against the creator of a technical marvel. It is a very wonderful concept - presenting the blockchain ledger of transparent and decentralized transactions that can go great lengths to preventing corruption.
I observe what bitcon is - it's a unit of Nakamoto's imaginary number (21 million). There's nothing here to "understand". It's all pretty simple. Regarding the holdings of Satoshi Nakamoto. How do you know how many addresses a person or people behind that name have, if everything is anonymous? But regardless, Nakamoto scammed people by claiming in the Bitcoin Whitepaper that they invented money and a payment system, when in reality they invented a system for attributing units and subunits of the number 21 million to online addresses of people. Money is a specific type of economic resources, while payment system is a system for transferring these resources. Money is not and it cannot be a unit of a number because there's no utility to compare with the utility of economic resources in a market exchange.

The clock repeats itself every 60 seconds, 60 mintues 12 hours and 24 hours... lol. Imaginary number, imaginary number, bla bla bla, over and over again.
Why the hell you want to know what others have? You don't have to and you shouldn't.

You are so confused that you even contradict yourself. First you say Nakamoto scammed the world by claiming he invented a payment system but then you say that a payment system is used to transfer resources. Well, guess what??? Bitcoin is used to transfer resources but you say that Bitcoin is not a payment system. Decide yourself and try again.

And again, contradiction. Money is not a unit of a number. Of course it is, unless 50 cents is not 50 parts of a unit, where the unit is a dolar, a Euro, whatever!

There is however part of a sentence that might be correct:

" Money is not and it cannot be a unit of a number because there's no utility.(period)"
And that's all.
hero member
Activity: 1176
Merit: 647
I rather die on my feet than to live on my knees
July 05, 2022, 05:11:04 AM
You're just repeating nonsense conspiracy theories about fiat money. Fiat money is simply a record of debt just like an invoice is a record of the products or services provided to a costumer. All records are created out of thin air. But recourses, like debt, products or services are not created out of thin air. Debt for example is created out of loan contracts and collaterals. Bitcoin on the other hand, is not a resource. It's a unit of Nakamoto's imaginary number (21 million) whose record is stored on blockchain. It's a simple online scam falsely presented to the public as a payment system. In a payment system resources are transferred, and the quantity of resources is expressed with numbers written on paper or digitally. In Nakamoto's scam you have numbers but not resources. That's why those who join the scam by investing their resources must wait new suckers to join otherwise they are doomed.

I can see who's repeating non-sense conspiracy. "Oh, fiat money is simply a record of debt, bla bla bla bla". Where the hell debt is a resource? Debt is the most shittiest mechanism to create money out of nothing, because fiat is backed by absolutely nothing other than the electricity spent to print bills. Don't be ridiculous. That debt is what keeps your ass under their control. And apparently you like to have your ass controlled by others! And if you like fiat, and having your ass controlled by a bunch of bastards, you'll even like more those CBDCs.

Bitcoin is not a unit of Nakamoto's bla bla bla you say. Bitcoin is a messaging protocol. Is a network. Don't be ridiculous. The only imaginary numbers I know are the ones to represent the square root of negative numbers! Those are the only imaginary numbers I know. Ahh and I also know about your imaginary/real fetish with fiat!
jr. member
Activity: 252
Merit: 1
July 05, 2022, 12:41:16 AM


It seems like you fail to understand what Bitcoin is, no matter how articulate you may be and falsely assign a nefarious motive to Satoshi's actions. Satoshi has not benefited at all from the Bitcoin holdings that are still tied together in his name from the earliest mining, they've stayed in the same wallets all this time and it was only many years afterwards it reached unimaginable heights from such humble beginnings. It is the people who speculate with the value of Bitcoin who are deceiving each other - it is simply a currency like any other and is worth whatever the mass of people who share the world decide it is worth as a unit of trade. You are attributing the malicious actions and schemes of others against the creator of a technical marvel. It is a very wonderful concept - presenting the blockchain ledger of transparent and decentralized transactions that can go great lengths to preventing corruption.
I observe what bitcon is - it's a unit of Nakamoto's imaginary number (21 million). There's nothing here to "understand". It's all pretty simple. Regarding the holdings of Satoshi Nakamoto. How do you know how many addresses a person or people behind that name have, if everything is anonymous? But regardless, Nakamoto scammed people by claiming in the Bitcoin Whitepaper that they invented money and a payment system, when in reality they invented a system for attributing units and subunits of the number 21 million to online addresses of people. Money is a specific type of economic resources, while payment system is a system for transferring these resources. Money is not and it cannot be a unit of a number because there's no utility to compare with the utility of economic resources in a market exchange.
jr. member
Activity: 252
Merit: 1
July 05, 2022, 12:22:17 AM
Satoshi Nakamoto brought a revolutionary digital money that is changing the world now. Many investors had made lots of money from this invention and more millionaires are still going to be made. Satoshi never fooled anyone, he just saved us from the government from running the lives of the masses. Bitcoin bring cryptocurrency and now there are many crypto projects in the market that are good for investing.

How are you saved from anyone or anything if you are giving your economic resources away when joining Nakamoto scheme and ending up in the units or subunits of Nakamoto's imaginary number, instead of another type of economic resources? There's simply nothing for the governments take away from you. This talk about freedom from the government is just a false narrative for luring the new suckers to join the scheme.
legendary
Activity: 2646
Merit: 1176
July 04, 2022, 02:56:08 PM
Satoshi Nakamoto is the identity used by the unknown person, people or organization that authored the so called Bitcoin Whitepaper. In that paper, they claimed to have invented money, and a system based on cryptographic proof that uses that money and allows parties to transact directly with each other without the need for a trusted third party. Basically, they claimed to have invented a payment system with its own money. However, that was not true. They invented neither money nor payment system. Instead, they created a fraudulent investment scheme. The scheme was arranged as follows. First they developed protocols and software for attributing the scheme units to online addresses of scheme participants. But here’s the catch: the scheme units were not the units of economic resources, be it: products, capital, land, debt, licences, patents, copyrights, etc. Instead, they were just the units of a number created in Nakamoto’s imagination – 21 million. Nakamoto gave the units of their imaginary number the name “bitcoins” (lowercase “b”). Protocols and software were given the name “Bitcoin” (uppercase “B”). Then, whenever the so called “bitcoin miners” join the scheme by investing the electricity to make the system running, the software simply attributes a specific amount of Nakamoto’s imaginary units to their addresses. The amount is, of course, predetermined by the protocols. The record of attribution is stored on a distributed ledger called "blockchain". Finally, the units are accessible through the special software applications called “bitcoin wallets”. Miners use those to transfer the units to other participants that want to join the scheme. And that’s literally it. That’s Nakamoto scheme in a nutshell.

The fraud in this scheme is obviously contained in the scheme units (bitcoins). The Bitcoin Whitepaper falsely presented these units to the public as the units of money. Later, the scheme participants also started to call them: “a currency”, “a reward”, “tokens”, “an asset”, “digital gold”, etc. So, the false public presentation of scheme units as “money”, and later as “asset”, is the central point of the fraud. This is how people are lured to join the scheme. Namely, money and asset are the generic terms that people use when referring to economic resources. And it is economic resources what people are supposed to invest into the scheme. It is economic resources what all fraudsters want to get their hands on. This is the ultimate goal of all investments frauds. And that is, of course, because the economic resources are what provide utility to people. For example. Products, labor, or services, are resources that provide utility because they satisfy human needs. Land is a resource that provides utility because it supports all human activities. Shares in the companies are resources that provide utility because they grant access to profits or equity of the companies. Debt units represented with fiat currencies are resources that provide utility, because they grant access to products, labor, services or collaterals of the borrowers at debt repayment or settlement. So, other people’s economic resources are what the fraudsters are always up to. And given that money and asset are the generic terms for economic resources, calling the units of Nakamoto’s imaginary number “money”, and later “asset”, was a perfect way to deceive people and lure them into the scheme. People would simply think that they are just exchanging one type of money or asset for another. Hence, a nice trick.

But once people are in the scheme, they realize that the units they hold are not the units of economic resources. They realize that Nakamoto scheme is completely void of anything that can provide utility to anyone. So they must dump their worthless units to someone else. Only in that way they can get the resources back and have the utility. And for that reason, they are forced to spread the same disinformation that was used by Nakamoto in the Bitcoin Whitepaper. They must publicly present their scheme units as money. From that necessity, the whole propaganda and false advertising came about. And now the scheme units are not just “money”, but ‘revolutionary money’. ‘Scarce money’. ‘Money that saves people from inflation and poverty’. ‘Money that provides freedom from the governments’. And so on. Due to the fact that Nakamoto scheme is online, and thus global, and given there are a lot of gullible and naive people around the world, the propaganda was successful. It was successful so much, that on the one hand, it pumped up the price of scheme unit from zero, to a high of $70,000, with the current price around $20,000. And on the other hand, it made the whole industry to pop up. This industry is now known by the name “crypto industry”.

To conclude. Satoshi Nakamoto fooled the world by taking a traditional fraudulent investment scheme and disguise it by splitting it into units that were put online and presented to the public as the units of money. The disguise was successful and people fall for it. But given that, in its core, Nakamoto scheme is a good old investment fraud, it contains zero economic resources for the participants to access. Which is why the earlier participants can return their investment of resources only from resources brought by more recent participants. Consequently, if people stop participating (buying the scheme units), then there are no resources anymore. And those that are left holding the units, are literally left with nothing.

It seems like you fail to understand what Bitcoin is, no matter how articulate you may be and falsely assign a nefarious motive to Satoshi's actions. Satoshi has not benefited at all from the Bitcoin holdings that are still tied together in his name from the earliest mining, they've stayed in the same wallets all this time and it was only many years afterwards it reached unimaginable heights from such humble beginnings. It is the people who speculate with the value of Bitcoin who are deceiving each other - it is simply a currency like any other and is worth whatever the mass of people who share the world decide it is worth as a unit of trade. You are attributing the malicious actions and schemes of others against the creator of a technical marvel. It is a very wonderful concept - presenting the blockchain ledger of transparent and decentralized transactions that can go great lengths to preventing corruption.
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