Topic: How Satoshi Nakamoto Fooled the World - page 3. (Read 8983 times)

Do I need to highlight what you wrote?  [ok.. I did. you can thank me later.]


First point:  in regards to what truth the bitcoin blockchain can verify.  Of course, it is not going to verify something that you put on there, except that you put it on there as of such and such block..  So you can prove that you put it on there, but not prove the underlying substance asserted. .which might have some applications regarding when it was put on the blockchain, but the underlying claim may well be a "so fucking what?" in regards to whether they are true. 

On the other hand, if we are trying to confirm that x, y z transactions took place, these are real bitcoins, and these many fees and rewards were issued, then that is the truth that the bitcoin block chain is confirming every 10 minutes and reconfirming and verifying all of the coins on the blockchain whether they moved in the last 10 minutes or not.   That kind of truth is very powerful when it comes to money, and so Snowshow continues to be disingenuine when he proclaims that bitcoin had been trying to verify truth to underlying claims that are put on the blockchain. .bitcoin cannot do that and only confused or disingenuine people believe it is trying to verify claims  merely because those claims are placed on the bitcoin blockchain (timechain) from outside sources.

Edit: I see that tadamichi outlined these ideas pretty well (better than my own rambling on the topic) in his response to Snowshow.

Second point:  in regards to Snowshow learning or making progress or on the right track:  What an optimist you are mynonce!!!!!

If Snowshow were legitimately confused and/or stubborn, then you are probably correct that sooner or later, he would end up getting it..

The problem with Snowshow is that he somehow sold out and he is pumping bullshit that no person of his actual seeming intelligence could actually believe if they were really trying... so in that sense, the ONLY thing to really wish is that on a personal level he is actually protecting himself and has a stash..

Sure, it is possible that Snowshow is in a similar camp as Peter Schiff, but does anyone believe Schiff anymore, either?  sure there are some folks who believe Schiff because Schiff is running a known business in the real world (some recent scandals with Schiff too).. .. maybe because Schiff is a bit less extreme than Snowshow (they are both pretty extreme)?  or maybe because Peter is not anonymous (I am not bashing on anonymity.. most of us here are either fully or partially anonymous.. but so many of us here have way more credible and believable positions than either Snowshow or Schiff)..

Clearly you haven't a clue whatsoever of what's going on in the Bitcoin network. You want to try to make people believe you know about Bitcoin, but by what you just said, you have absolutely no clue!
For your information, the system is prepared to reject any "fake information" that a maliciuous miner might try to put into the blockchain. But no point in explaining how! You wouldn't understand!

You don't even have a notion of what numbers represent! Let alone what is going on in the Bitcoin network. You have no clue! Educate yourself first on Elementary School. 1st and 2nd class would be a good starting points!
Then, you need to educate yourself in computers, bits and bytes! Then, come back again and maybe, just maybe you make a reasonable statement about bits and bytes!
There are no lies in the Bitcoin network. It's all plain and clear. All can see it all but you!




So DAMN WRROOOONNNGGGG... The blockchain verifies everything. Don't be stupid by telling those lies and nonsense. You are the one lying. What the actual fuck are you saying?
If you put that info in the blockchain, metaphorically speaking, that would mean a bad block, a bad transaction such as a double spend or something like that. That won't FUCKING PASS. YOU'RE AN IDIOT saying that crap, those lies!
And WRROOONNNGGG AGAIN when you say you can't show it. Of FUCKING course you can show every FUCKING body what is in your address. In fact every FUCKING one can see! What an ignorant person. Dumb and stupid as fuck, up to the point that he can spit shit like this out of his mouth. I would be extremely embarrassed if I said anything like that!

Dig a hole and jump in. I'll help covering you so that you don't have to deal with the shame!

Exactly, that’s why Blockchain alone is not a solution to every problem, like shitcoiners want to make it seem. But in Bitcoins case all information that is necessary to verify the information exists inside the system itself. It’s based on digital signatures. For a transaction:

• You need a hash of the previous transaction(this shows how you got the coins).
• You need the public key of the next person you want to transfer it to.
• A digital signature of the two previous points, which proves you’re the owner of the coins, this can’t be faked it needs your private key, you can only have the correct private key if you were the previous owner of the coins. That’s why you need to secure your private keys, because it serves as a proof of ownership.

It’s impossible to even transact with false information like this. You can’t try to spend other peoples coins or spend coins you don’t have, or write any bs information you want inside the Bitcoin Blockchain. So then only the double spend problems remained, but full nodes/ miners validate new transactions before they get taken into a Block. Only utxos can be spent. Invalid blocks are rejected. Only objectively valid transactions are taken into new blocks. When there’s conflicting transactions the one broadcasted first is considered valid. For this you have a timestamp server that relies on PoW. This was the first time this problem was solved in a decentralized, trustless way, Bitcoins validity is ensured objectively. It’s checked wether information is true or false.

When there’s the nft bs and other things that shitcoiners want to sell as solutions, then blockchain isn’t the solution. As it can’t verify information that is outside the system. Like art, real estate, medical records etc. As you can simply add in false information and there’s no fully objective way of verifying it. And like you rightly stated it doesn’t matter if false information can’t be changed, but on centralized blockchains not even that is certain. So there a blockchain wouldn’t be different from a centralized database as both need trust to work.

Bitcoin has hodl rates of like 65%+, im not sure how many assets even reach this territory. Anyone who thinks this is a ponzi is clueless about what other assets are actually based on.

"1+1=5"<- you are here, see the full picture. In Bitcoin's system it's "1+1=5 ... - 3"

You're on the right track to understand Bitcoin.

The Bitcoin funder which his name implies as Satoshi Nakamoto up to date it has not show case his face for people to know him as a person, nevertheless, Satoshi Nakamoto created bitcoin as a means of digital payment online, which has been the world problem he has solved so far, in other words it has created job opportunity across the nation and is transparent to each other. Many Government are kicking against bitcoin in the sense that bitcoin has a lot of work to do for a better understanding and how it works. Not on the bad side many people fall a victim to become reach quick, Bitcoin is a gradual process to the top.   

You don't get it, do you? The system prevents information from being changed. It doesn't check whether information is true or false. False information is something that doesn't correspond to reality. You can put the following information on blockchain: "1+1=5", and in that way prevent it from being changed. But that doesn't mean one plus one equals five. It's false information. The same is true with bitcoin blockchain. Nakamoto's software writes false information into that database. According to this information, address holders have a specific amount of bitcoins, coins, tokens, asset, digital commodity, or whatever one calls that supposed digital resource. Yet, nobody is able to show that resource. It's like developing software that would write down that people have xx spaceships that no one wouldn't be able to show. It's literally unbelievable how blindly you people believe the software of an anonymous author/s when it writes down that you hold a revolutionary digital asset in a specific amount, and in the same time, not being able to show that asset. I call this the stupidity of a high order.

Bitcoin ain't shitcoin tho.

Fuck shitcoins.. we are not talking about shitcoins in this thread.


To the extent that you are even attempting to grapple with reality Snowshow, you really seem to be mixed up.  Even a Ponzi scheme is not fake information, but it gets a sense of becoming fake if it loses all of its value...and frequently in a Ponzi scheme, the value will quite suddenly go to zero because the payer does not have enough money to cover all of the payouts that are in the system.. so then it gets discovered and then loses value quickly when new folks stop depositing and existing holders might even withdraw.  It continues to be a pretty vacuous claim to be asserting that bitcoin is like that - even though for sure concededly, bitcoin's value would plummet greatly if 80% or more lost confidence in it.

tadamichi also provided a good response in terms of verifying bitcoin's information..

That’s what Blockchain, Proof-of-Work and Nodes are for, to prevent any false information from entering. The longest/ most worked chain is the global we truth we all agree upon, because it’s able to outpace attackers. That is because it’s unlikely that 1 entity can gather as much hashing power as a whole network of honest miners, that get paid for their work and have economic incentives to stay honest. It’s just unlikely that a small entity can gather enough resources to outpace all of them. We have a really strong basis to assume that the transaction history is correct and is actually how it happened. This proved itself in practice too, so we’re here over a decade later with a correct transaction history and state of the blockchain, that was actually done without needing trust and a central entity to tell us what the truth is. That is actually backed by many scientific concepts that were used together in a clever way.

With traditional databases you don’t have this, you need a central authority to tell everyone what the „truth“ is, this information can be faked and is purely based on trust. You can change any traditional database in any way, in the moment or later on, they’re not append-only nor do they have any mechanism to preserve truth. And they’re not even open to the public. There will be no single way to prove the transaction history of a bank in 20 years from now is correct/ still exists, just like you can’t prove now, which transactions banks did 20 years ago. Nor will you ever have access to this information. The later we go back in time the harder it will be to get any data and the correct ledger state is just lost. With Bitcoin it’s preserved forever as long as the network is running and the incentives work, you can recover your money even in 100 years from now, if you have access to your keys. Your family will be able to access this money even 100 years now, unheard of of any bank. They can’t even preserve a financial system this long.

Go educate yourself how Bitcoin operates and manages money. Or you can repeat the same stupidity. I don't even read your responses anymore.

"Bernard Lawrence "Bernie" Madoff was an American financier who executed the largest Ponzi scheme in history, defrauding thousands of investors out of tens of billions of dollars over the course of at least 17 years, possibly longer."

https://www.investopedia.com/terms/b/bernard-madoff.asp

Hence, you're uninformed.

Now, try to calculate how many resources, electricity for example, are invested in this Ponzi scheme. Madoff's Ponzi is nothing in comparison to Nakamoto's Ponzi.

What could have been more stupidity than in someone who does not know and not willing to know how controversial his level of assimilation could be, we are talking about bitcoin which is a decentralized network that everyone seeks after to make a private life and be independent from the said government and political power over our finances, yet someone like you could still comes out and call it a ponzi scheme, the highest duration a ponzi scheme last is within a year, bitcoin is 13years and still counting yet you are in doubt.

There's one problem with your rant about information. You missed out something that is called "fake information". This is when someone tells or writes something that is not true. Nakamoto's software writes down something that is not true. It writes down that people have a specific amount of a digital resource called bitcoin. But that's a lie. It's fake information. For example, let's take a person with the number 0.001 and a person with the number 1,000 written next to their addresses. If those numbers were actually true, if they were representing the amount of some digital resource, then the second person should be able show 100,000 times more digital bits in their possession, than the first person. Because, all digital resources are composed of digital bits - 0 and 1. And they occupy memory space. Yet, there's no 100,000 times bigger memory space reserved for the second person, occupied with digital bits. Both persons have only numbers attributed to the addresses. Numbers that occupy nearly the same memory space. Hence, there is no digital resource called bitcoin. Nakamoto's software is writing lies to your online addresses. You're simply the participants in a Ponzi scheme that uses the bait of non-existent bitcoins to lure people in. No amount of rants can change that fact.

Lmao it’s not some gossip that he’s talking about. Everything in life comes down to information, that is the base layer for everything. It is the most essential resource of any of them, and being able to study and use information is a big factor of what made humanity the dominant species on earth.

Your DNA carries genetic information. It decides how your organism is built and maintained. If you’re sick or healthy. That allows organism to have evolution. This information can be used or changed. For example in forensics to catch criminals, to do paternity tests etc. Dna is even used in computer science as a storage device, that’s what’s being researched currently.

Go educate yourself how Bitcoin operates and manages money. Or you can repeat the same stupidity. I don't even read your responses anymore.

At first I thought now you start talking to yourself but then I realized again you are being serious.  


... now extremely rich!

That is the reality. If you like it or not it does not matter.
Bitcoin was always highly controversial and thats how it will stay. Still people that liked it always profited form it and the people that did not like it were left behind.

I see you're still not done with the stupidity. What information are you fantasizing about? Of course that information is a resource. If you have some nasty discovery about the president Biden or some publicly important person this can be very valuable information. But by entering in Nakamoto's scheme you bought no information. The system simply attributed a number to your address. A number that supposedly represent the amount of tokens or coins. But you're not even able to show those coins. Because they don't exist. They're simply a bait to lure people in a Ponzi scheme. All Ponzi schemes, from the one invented by Charles Ponzi to the one invented by Bernie Madoff, had some kind of bait to lure people in. Generally, the bait was business that generates big returns. In reality however no business existed. Which is why the returns to existing investors could only be generated from the resources contributed by new investors. What Satoshi Nakamoto did, is simply change the bait. Instead of business that generates big returns, Nakamoto used the bait of digital money that generates fast and secure transactions. However, neither money nor transactions exist in reality. And all those that took the bait and invested in Nakamoto's Ponzi scheme, are able to return their investments only from resources contributed by new investors. Admit finally that you're participating in a Ponzi scheme and want to make some money out of it. But please, stop with the stupidity and fantasies about some information or coins or magical money. They don't exist. You look like a religious nutcase trying to convincing me they do.

I have been doing freelancing gigs lately. Guess how people pay me? Through crypto  

Paypal has a 10% fee in my country, international bank transfer takes weeks, other payment methods are equally incompetent or riddled with unnecessary fees.
But bitcoins and crypto? I get paid instantly, I can convert it to FIAT whenever need be or hodl or convert it into something more stable  

Your arguments are flawed and outdated.

Adults (or at least adults who don't suffer from some kind of multiple personality disorder) wouldn't register quite so many accounts in order to troll an internet message board.  Such behaviour is undeniably obnoxious.  Another popular expression is "You reap what you sow".  It's only natural for the forum users here to counter-troll when someone trolls us first.

For me it makes no sense to say that Satoshi deceived the world, nor can you put a blindfold on people so that they do not realize what they are missing, the few who believe that bitcoin is a farce I want to see the face when it reaches new all-time highs, it cannot be said that someone like Satoshi lied to the world when a system of governments and banks have blinded the world to seeing new opportunities, that is cheating, what Satoshi did was remove that blindfold.

If you’re anti fiat and anti Bitcoin, you can only be a gold bug. This form of money already failed in practice and it’s foolish to try the same thing over and over again, and expecting something to change. My offer: let’s meet here again in exactly 10 years and then talk about Bitcoin again. I’ll set a reminder. After 24 years in operation then, any fud about a decentralised digital system not being durable enough, should be put into fairytale territory then.

Snowshow is the only adult in the room and some respondents here put their immaturity on full display.

Buy more electronic digits and convince yourself there is no stopping the B-train. 
 
This old Spanish saying couldn't be more fitting:  "alábate pollo que mañana te guisan"