Topic: How Satoshi Nakamoto Fooled the World - page 17. (Read 8965 times)

I have a single question for you: can someone return their investment in the bitcoin system without funds contributed by new investors? No one cares about your philosophy about banks. Just answer my simple question.

The level of your stupidity is stunning. It doesn't matter what you think I said. It doesn't matter what is bitcoin. What matters is the fact that nobody who invested in the bitcoin system is able to return their investment without new investors. There's literally nothing in the system. People must wait for someone to save them out of it. Are you able to comprehend something so simple?

Oh joy, another illiterate halfwit in the topic!  

Did you not see the part where I literally just said:

It's not enough we have to deal with this dumbfuck without you adding to the fuckwittery?  Actually, I'll leave you both to it.  You'll probably have better luck getting through to the dumbass troll, seeing as you are one.

funny thing is..
"snowshow" has said the exact same silly argument about 4 times now on 4 different accounts. and each time people like Doomad dont realise its the same person as he was arguing with before.

oh well.
to doomad(you insulting naive little man)
(nice edit to add "and accounts" after reading my post.. seems it only took you a couple months of arguing with the same person to then suddenly want to edit a post TODAY.. shame you didnt realise a couple months ago)


lets just conclude the argument(scam test)
1. fiat bank notes.... people holding bank notes do not gain anything from holding bank notes. no interest.. infact the longer they hold bank notes the less value you have.
yep inflation.. kills value of bank notes slowly

bitcoin however gains value slowly(deflation) so without selling it. you are storing more potential value for later... test pass for bitcoin

it also has many uses without selling it.
i personally programmed a security mechanism to only unlock a door when i send myself some coin(not sell just move coin between addresses i own) (IoT project)
and just like a house that does nothing but sit on land. i can prove ownership of my value and watch it appreciate in value, (unlike a bank note)
also just like a house, without selling it i could use bitcoin as collateral to get a loan. still in my possession but used to validate getting a loan.

you would be very surprised the amount of things you can do with a btc transaction without ever having to sell the coin. (transaction confirmation to another address you own+IoT projects, research it)

thousands of businesses have been created around the bitcoin ecosystem. its created millions of jobs.
many networks have been created using bitcoin as the collateral(peg).

heck i even remember someone that had a jetski rental and a mini golf course where by people could rent out the equipment by locking up btc as security/insurance/deposit. and they get it back/unlocked if they return equipment. thus again no "sell' just collateral

i knew someone that would mine gold 5000 miles away. and need leased land to mine on it. they put BTC up as collateral. whereby they didnt have to pay anything upfront for the equipment on the land already. nor sell the btc.. all they had to do was fulfill the lease contract of bringing back X ounces of gold at the end of the season. the BTC never sold. and the equipment was used for free, where the miner mined enough gold to pay the lease owner and keep some gold for himself too

You're the one who is too stupid to be able to back up their feeble claims.  You say Bitcoin is like a business, but you are completely unable to name a single business which can do the same things Bitcoin can do.  There are millions of companies in the world.  You're telling me you can't even find one to make a viable comparison with? 

Would have thought you'd be better prepared after so many threads and accounts.  Oh well, back to the drawing board you go.

So, you're participating in a stupidity of buying the units in a system that does nothing except issuing and storing the records of its own units, and you think you can hide that stupidity by asking irrelevant questions?

Quote from: DooMAD on June 02, 2022, 12:19:27 PM

False equivalence again.  Bitcoin is nothing like a business.

Businesses have CEOs and/or company directors, managers, chairmen, etc.  People in charge.  Bitcoin does not have those.

Holding shares in a business does not grant you access to interact financially with any of the people that business might interact with.  Whereas holding private keys to access bitcoins does give you access to a global network of people with whom to buy/sell/lend/trade/etc.

Financial businesses in particular often require reliance upon gatekeepers, meaning you have to obtain permission or approval from someone before you can use a given service.  This invariably requires handing over personal information, which could be lost, stolen or otherwise abused.  I can send Bitcoin to literally anyone and they don't have to obtain permission or approval from anyone.  No one has to submit personal information in order to transact. 



Bitcoin is both a Protocol and a Network.  And holding keys to a balance of bitcoins is what allows you to transact on that network using that protocol.  You've had 25 pages worth of bullshit to absorb this simple understanding into your mushy little pea-brain.  But you're still getting it wrong.  I can only assume it's deliberate because you can't possibly be that stupid.



But if you are determined to continue with your ridiculous flawed comparisons, kindly name a business with no one in charge that allows people to interact financially with other people, who may be on the other side of the world, without relying on middlemen or third parties and with no gatekeepers.

I'll wait.  

Still waiting...

It's almost as though you can't justify your own argument.   

First, you talk nonsense. Centralization is a concept. It doesn't cause anything. Inflation is caused by imbalance of money and goods and services, while the imbalance is caused by the politicians.

Second, and important: why do you wanna discuss inflation in the topic that describes the bitcoin scam?

Finally, all records are created out of thin air - records on number of shares in corporations, records on number of units in the banking system, and records on number of units in the bitcoin systems. But that's not the point. The point is that the shares and units in the first two systems enable people to return their investments from the systems. While the latter units don't, which is why people are able to return their investments only from new investors like in all investment scams. Bitcoin system is like a corporation whose only purpose is to issue and store its own shares, presented publicly as something valuable, in order to scam people out of their money.

Because inflation was the result of centralization and future borrowing of funds the government was not able to produce. Bitcoin is deflationary. You don't get to create more coins because you want to artificially stimulate the economy to support COVID lockdowns.

You outlined the traditional financial system in your original post:



Those currency units are centralized and created out of thin air with arbitrary metrics. How does the current fiat system pass your test when the entire system was built to fail, evident by a consumer losing nearly 10 percent of their purchasing power within a 12 month span via inflation? Does that sound like a structured system that is not a scam?  You're describing a basic loan system that utilizes fiat as the medium when crypto currency could accomplish the same. And knowing that something like Bitcoin can't be created out of thin air to bail out irresponsible lenders, it might give the big banks some pause if they begin issuing loans out to people they know cannot pay them back. See the U.S. 2008 housing crisis.

Why do you want to talk about inflation here?

i think OP you're the one in best position needed to make use of spectacle in other to see many things you're missing up, i give a look on your profile and finds lots of disgusting elements stating from how and what you post, i see you don't even follows some of the posting rules, take for instance on this thread and this same page, you engage your post consecutively without waiting on anyone to reply first before making another, i also take a look at your points on every post as baseless and pointless,

i can see the trust system as well I don't need to mention what's there, and your merit history as well is as good as not been on the forum, you created your account on the 15th of March this year but no single post of yours ever receive a positive remark from anyone, well the reason why you're here is best known to you OP but don't you think you're wasting your precious time that could be well use to benefit yourself and others in doing things the right way? just an advise anyway.

European Union inflation rate 8.1 percent: https://tradingeconomics.com/european-union/inflation-rate

U.S. inflation rate 8.3 percent: https://tradingeconomics.com/united-states/inflation-cpi

You are watching currency collapse in real time. Is your argument that this is not government induced? What explanation do you have for a consumer of any of these currencies having lost their purchasing power by 8 percent from the same time last year other than government irresponsibility.



You are attacking decentralization and making the argument of centralization in your original post and I've provided you two demonstrable metrics of centralization overreach. The inflation rate does not magically go up on its own. I don't understand what you mean by a "borrowing business."

There were times I do read some people articles on medium, but it come to a time that I do see wrong things about bitcoin, like bitcoin will fail and bitcoin is a ponzi, I am now use to all that and I do not bother to read such things again, some people may not be trolling but better than convince people to believe in what they believe, but they believe it in the wrong way. All I know I can just say is that this is what some people will say until they will miss the next bull market again and remain foolish to their wrong thinking about bitcoin. With all these FUD, bitcoin is still getting recognized more in this world and making it to be more valuable.

Did you ever open a history book?

So, you guys want to scam more innocent people because you know that you can't exist this scam without new investors. And that's why you hate people who are telling the truth. Gotcha.

I am on this form to save people from scam. Governments destroyed nothing. Borrowing business of the banks and the borrowers is still going on and those who hold shares in this business (fiat currency) are still receiving goods, services, labor or collaterals from the borrowers. It is just that they receive less due to inflation. But, all businesses have ups and downs. Why do you mention the borrowing business in the forum about shares in the nonexistenent business?

those are good epigrams i can say. but for most users in the forum, you won't be swayed by this kind of trolling. you know better by now. just like the media. whatever they write to the public consumption, you know which ones are fake or legit or genuine in nature. and besides, you don't have to convince anyone to be in this market. it is everyone's prerogative to get involved in this industry. so if you know why you are here, you won't be bothered by fud or trolls.

That's a good one.

In other words, as another saying would put it:

"It is easy to wake someone who is sleeping, it is near impossible to wake someone who is pretending to sleep."

Funny thing that I've noticed. People who start these troll threads are always newbies who make accounts here just for the purpose of being fed.
Trying to change the mind of someone who came here to defend his statement until the very end, against all arguments, is a waste of time.

Don't wrestle with a pig. You both get dirty and the pig likes it.

Maybe you just cant grasp the concept that people can work together and be successful, without selling their soul for profit, enslaving others, and shitting and scamming on each other, by forming a voluntary network that is resistant to bad actors. Maybe youre just too deep into fiat and cant grasp that this is possible. But then again i never saw a bee convincing a fly that honey is better than a piece of shit.