Topic: How Satoshi Nakamoto Fooled the World - page 18. (Read 8983 times)

If you're so anti-crypto I don't see why you're on this forum. Bitcoin is as popular as its ever been. Post COVID, people recognize that decentralization is the way financial systems should be run. It took all of 3 months for governments all around the world to permanently destroy their currencies through artificial economic stimulation via money printing. EU and the U.S are seeing high inflation numbers and low economic growth. You think these are signs that people are somehow awakening to Bitcoin's antics and NOT traditional currencies?

The adoption or use of bitcoin all over the world? You mean, scamming people all over the world? Really, what is there to adopt? Transferring info on how many shares in the nonexistenent business someone has and recording this to a database? I mean seriously? What is there to adopt? Bitcoin is the most nonsensical thing ever invented. You buy shares in something that doesn't exist and then you wait for someone to enter this nonsense and buy those shares from you. The new member then also waits for a new buyer. There's no business represented with those shares, no goods, no services, no commodity, nothing. You're just sending each other numbers and paying for this. This scheme is dumb as dirt. Some anonymous guy created a scam in a digital form and you blindly believe everything they said. Crazy.

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.  

i want to believe you have reason why you come over to bitcointalk forum and i also want to believe that you clearly understand the reason for the creation of it, should in case you forget let me remind you, here is not a political propaganda forum or social media where all kinds of matters can be argued, abused or castigate, here is a community purposely created for bitcoiners all over the world to engaged on "bitcoin" discussion and other cryptocurrencies that could be of economic important and help towards the adoption or use of bitcoin all over the world, i want to believe your aim was to learn about what bitcoin is and not to come and argue out with unnecessary uncertainties.

my advice, if you find your aim for coming to this forum not fulfilled then you can as well go to other platforms where you can have enough freedom of speech and make your arguments, for you to have created an account here on the forum means you want to participate in discussion related to bitcoin and cryptocurrencies and not to cause commotion, if i may ask you, have you ever make a step to research about what bitcoin is? consider the world richest men and see a number of them adopting bitcoin and consider your ways.

There's nothing to "resolve". Bitcoin is simply a digital share in a nonexistenent business. It uses the method of recording shares in businesses - like borrowing business (fiat money) or business of producing goods and services ( stocks/shares), to create the illusion that there's something to invest in. It's a modern day scam. You cannot invest in the record of shares in the business. You invest in business. In the bitcoin system, you have the record of shares, but there's no business. All that the system does is recording how many shares in nonexistenent business a person has or has had. Hence, a complete nonsense.

Changing the OP just shows your disingenuineness rather helping the cause that you purportedly have.

You may well could have said: "I change the OP on a regular basis because I want to demonstrate that I am a disingenuine dweeb who does not want to attempt to resolve any of my concerns (if I were to have any) related to bitcoin"


Not to give too many excuses for the dweeb who we currently know as Snowshow, but I could see why Snowshow might be annoyed with "crypto"..


fuck shitcoins.  Who cares about that crap?

Let's stick to bitcoin in our discussion here.. why muddy the matter, krishnaverma?  Do you know the difference between bitcoin and shitcoins ("crypto")?  

Rather than getting confused about the topic of this thread - even if Snowshow might be confused about the difference between bitcoin and shitcoins (aka "crypto", aka crypto currencies), but at least he may well be attempting to aim his criticisms and discussions in this thread at bitcoin... .. It may well be about the ONLY thing that dweeb Snowshow seems to be doing right, which is focusing his criticism on bitcoin (maybe just coincidentally rather than based on any actual meaningful knowledge of the difference?)

In regards, to shitcoins (or crypto), Snowshow would likely be correct if he were to be throwing out blanket assertions that the overwhelming majority of shitcoins/crypto are scams and bullshit and just means for those involved to fuck over other people with hardly contributing anything besides wanting to print money and then to ride off of the coattails of the security and infrastructure that bitcoin had provided.

Did I say fuck shitcoins?  I can't remember...  

Why are you so much annoyed with crypto and bitcoin ?  Here can be some reasons:

1) You invested in bitcoin or other alt coin and faced losses. Now, this is not the fault of the crypto coin but you need to understand that crypto is not some get rich quick scheme.

2) Another possibility is that you never invested in crypto and now you regret that you can not make so much huge profits like other people. But there is a good news for you. Crypto still has a lot of scope for growth and even if you start investing now, you can make good money.

I change my OP all the time and I will continue to do so because I am simply demonstrating the same fact - that bitcoin is a scam. Through the discussion I see what rationalizations people use to deny that fact, so I change my OP towards simplicity that will eliminate the need for such rationalizations. Once people are left without rationalizations they will finally realize, you included, that bitcoin is a scam. So, stay tuned. I am going to change the OP (and the title) soon, again.

There are quite a few folks who are describing bitcoin's current addressable market (meaning currencies, currency derivatives and various ways that value is stored that goes beyond the actual value of the asset) in today's dollars is somewhere between $500 Trillion and $900 Trillion (Greg Foss talks about this).   I see no reason not to raise this up to $1 quadrillion (around 2,000x today's bitcoin market cap) just to make the number a bit easier to work with, and it is not unrealistic to either presume that by the time (maybe 50 years or more into the future) that bitcoin starts grow towards its maximum potential in terms of having various values gravitate into it that the value is likely going to increase (by value creation like you are suggesting).

So, maybe 50 to 100 years down the road the total addressable market might end up being somewhere in the realm of $1 Quadrillion to $10 Quadrillion (or maybe even more) in today's dollars.  Some people argue that value creation potential in the future is infinite, but surely I prefer to attempt to stay somewhat grounded, and surely if the number ends up much higher than those projected, then there is nothing wrong with that.. just adapt as you go in terms of accounting for knew situations and systems as they are created and possibly create value too.

There are also theories that we cannot necessarily presume that human civilization is always going to advance, and they are not even bad theories .. and things like the dark ages and even the fact that we cannot figure out how certain things had been built in the past (such as the pyramids) provides evidence that maybe sometimes we suffer from set backs and lose our collective memories in regards to how to do certain things that had been possible in previous times.

As you mention, there may well be limits in bitcoin's current upside, and maybe 10x to 100x from here are somewhat achievable in the next 10-20 years, and maybe the 100x to 2,000x might be more difficult to achieve.. and it may well not be practical to consider that bitcoin would end up being able to absorb all of the addressable market on value storage.. and various derivatives of that - including payments.

Correct.  Trying to come in now and make wealth based on trading on the little ups and downs off day to day ups and downs, is very difficult.  It is not something I'd recommend to anyone.  Unless you have at least a good system should one attempt that, but even then they can still get reckt as you say.

This is opposed to the easier method, which is getting more difficult to do as time passes.  ... That being, if a newbie had entered into the bitcoin system say ten years ago, they could have made 1,000 to 10,000 times their investment.  But, getting in now they may see a 10 times, or waiting a little longer, a 100 times on their investment. ... If investing to make wealth is all they had in mind.

But there are other newbies that can get in now that can do even better, without going down the path of investing.  That is, they can take advantage of bitcoin's properties to make bank.  For example, someone could start up a remittance business between the US and Colombia, or between the US and Thailand, or wherever.  Or, they can get into any other number of businesses popping up.

These are the ideas, the topics, that seem to elude the OP.

And then there are the other opportunities that will eventually pop up in the future.  There will be layers on top of the bitcoin system, things that no one has come up with yet.

I recall using the internet back around the early 1990's when mosaic came out.  I used to like using a web search utility called "webcrawler".  It worked well, and I thought it was great and a useful idea to help me with my web searches. ... Then one day, during one of my computer classes back then, these two guys walked into the lecture hall and gave us a short preview of their new web search engine.  I think they mentioned that they were from some university out east, or was it the west coast, hehe.  They described a new algorithm for how to tie a search term to a page's contents.  Then they showed us their webpage, it was a white blank page with just one entry box and couple of buttons.  They called it "Google".  ... When I went to the lab, I tried it, and I liked it because it had no clutter, no ads on the main page. I thought wow, what a great idea.

No one really knows what's coming.

That is the point. He doesn't even know what arguments to use anymore. So he changes the original post to create a new invalid argument and continues to argue with that. This is such a defeatist attitude. And I almost feel sorry for him. At this point, it is useless for anyone to prove him wrong; he will just say the same thing over and over.

For sure to me it seems that young people have a compelling dilemma because they likely have limited cashflow while they are learning skills (such as going to college), but the college skills can sometimes help them both with their cashflow and their learning how to engage in better critical thinking - or learn ing how to learn, too.

So, investing in yourself is good.. but not really always knowing how can be a dilemma... I understand that people are different, and some people are better able to figure out how to learn on their own.  I had tried some learning on my own when I was younger, and I did not really do a good job with that.. and probably I spent too much time in school (college) too.. but it is not always easy.. and role models can vary too.

If your cashflow is limited then maybe it is difficult to buy $100 per week of bitcoin and you might have to settle for much lower amounts.. $10 or $20 or something that is not going to end up really messing you up in terms of covering your various ongoing expenses.

So it’s hopeless dumping scheme because peeps are already earning big profits, living the life freely and transacting borderless without any hesitation? Your thoughts are coming out of the rage where you might have lost money because you were not sure when to enter into the market. Moreover you were in rush to sell because you thought everyone is dumping right now. However, this is just one of cyclic changes that happens in the bitcoin world now and then. I’m not surprised and still not selling my coins.

One thing about bitcoin is that you best acquire it knowledge in practice, and this will be your greatest security asset in the nearest future, many people don't have the patience to build up skills and goes mute on dilema because they don't know it whereabouts, got confused and later ended being decieved which resulted into scam, that's why i said what you know about bitcoin is your first security asset, to sum it up, your educational background is as well another added advantage because you will understand how to read a market, speculate and know the basic principles of demand and supply which also applies in bitcoin.


this are the kind of a positive mind thinking users we are talking about, someone who sees the future and believe in the power of change, if we have been a slave all these while to the rule of fiat economy system then it's time to wake up, we have to take and embrace the future bitcoin has come to place on us as an opportunity, yet some are so addicted to an old pattern of live but want something new amd different, how?...  if you can invest, store your value assets, make profits and remmain secured with bitcoin then it worth using at all cost.

It appears to me that you are deflecting.

You are the one who ends up changing the OP after the fact that many members had already attempted to respond to each version of your OP.. then you switch to some new variant of a topic.

When I point this out, you try to muddy the waters by ambiguously proclaiming that there is something wrong with me and/or my motives rather than the obvious issue in front of us - which is your actions of changing the topic at least twice which could also be referred to as a disingenuine moving of the goal posts.

#you fuck.

In general, I try to pay attention to minimizing the use of various schemes. This is often quite unsafe.

You understand very well what point I am making.

Every thing you said now is repeatition of what you said in other of your response.from what you are explaining are you trying to tell the world that Bitcoin system is worthless and valueless. From this sentence i can sense that you labelled bitcoin as a scam zone, if you want agitation and condemnation of bitcoin, try to come up with good point with good explanation not repeating them in several occasions

You go girl!!!!


bitcoin does not edit its transactions

and

I do not edit my posts either.... (especially if they have existed for more than an hour or so)


So I am having some difficulties understanding what point you are making exactly.

 

I can do whatever I want with my topic.

But regardless, it is really funny and crazy how you, a top advocate of the bitcoin scam, have the audacity to moralize someone for editing a post on a forum.