Satoshi Nakamoto is the identity used by the unknown person or people that in the year 2008., authored the Bitcoin Whitepaper. In that paper, they claimed: “We have proposed a system for electronic transactions…” Basically, they claimed to have come up with a payment system that uses its own digital money. However, that was not true. What they came up with is a system that transfers numbers and stores them in a distributed database called blockchain. That system is completely void of money or any other resources. And all it provided the public with, is access to a global pyramid scheme. Or maybe a Ponzi scheme, depending on whether Nakamoto made false claims due to ignorance or intention and profited from that. Wich is unknown due to anonymity. But regardless, Nakamoto’s false claims fooled many people around the world and made them to invest in the system. Once they are in, the only possible way to get out, is through new investors. And that’s obviously not a payment system, but a pyramid-like scheme. In the payment systems, people trade one type of resource for another and are not dependent on the whims and wishes of new investors to join the system and bring the resources in. Here, we will first address one false claim in the Bitcoin Whitepaper, which became the bases for the whole misconception of Nakamoto’s system being a payment system. Then we will refute the myth of this system being some kind of alternative to the banking system, which is often advertised by the propagators of Nakamoto’s work. Finally, we will show that the pyramid scheme accessed via this system is an extremely negative-sum game, which makes it far worse than all prior pyramid schemes.
Often, when people own resources, numbers are written on some paper or digital media to represent the quantity of those resources. For example. "100 TSLA" written on a brokerage account means that someone owns one hundred shares in Tesla company. "100 USD" written on a banknote or bank account, means that someone owns one hundred units of debt created in the US banking system. And "100 acres" written on a title certificate, means that someone owns one hundred units of land. Here, company, debt, and land are resources, while the number "100" is an auxiliary means for representing the quantity of resources. That means that in the transactions, we transfer the ownership of resources, and use numbers to represent the quantity of those resources. What Satoshi Nakamoto did, is came up with a system that transfers numbers, but a resource whose quantity those numbers are supposed to represent, does not exist. Instead, it is imaginary. It only has a name - bitcoin (BTC). And it emerged in the Bitcoin Whitepaper, through a false claim of the author. Namely, Nakamoto claimed that the transfer of numbers in the system is actually the "transfer of coins" (digital coins). They essentially claimed that whenever someone gets a number transferred to their address, they become the owner of a digital resource in the quantity represented with the number. The supposed resource was given the above-mentioned name - bitcoin. The generic terms for bitcoin are "cryptocurrency", "virtual commodity", "electronic cash", "digital asset", "digital money", etc. When one reads "100 BTC" in their wallet application, they supposedly own one hundred units of a digital resource. But as we have said, that resource is only imaginary. Let's perform a simple experiment to demonstrate this. Suppose one person has the number "0.01" in their wallet application, and the other "100". If those numbers were representing the quantity of a digital resource, then the second person should be able to show 10,000 (100/0.01) times more digital bits in their possession, than the first one. Because, all digital resources are composed of digital bits - 0 and 1. And they occupy memory space. Yet, there's no 10,000 times bigger memory space in Nakamoto's system, reserved for the second person and occupied with digital bits. Both persons have only numbers next to their addresses. And those numbers occupy nearly the same memory space in the blockchain. Other components of the system are protocols and software for cryptographic verification of transfers, the network of nodes for performing the verifications, and wallet applications for making the transfers. Therefore, nowhere in the Bitcoin system is there any digital resource called bitcoin. Consequently, there aren't any bitcoin transactions. There aren't any payments. There aren't any "transfers of coins", as claimed in the Bitcoin Whitepaper. All there is, are transfers of numbers. These numbers create the illusion of quantity and fool the people into believing that they are buying a digital resource. While in reality, they are buying nothing. The resource is only imaginary. It is no wonder then, that existing investors can return their investment of resources only from the resources contributed by new investors. Hence, just like in all pyramid schemes.
Given that the Bitcoin system is a mere means for accessing a pyramid scheme, the existing investors, naturally, want to lure new investors into the scheme. That gave rise to a whole range of myths and misconceptions. One of the often advertised myths is that the Bitcoin system is an alternative to the banking system. This is, besides being nonsensical, pretty comical, given that the latter system manages a real resource, while the former an imaginary one. Namely, when banks grant loans to borrowers, and in that way create debt (a resource), they use numbers, generally known as fiat money, to represent the quantity of that debt. Then, market participants invest in the created debt by trading their resources with borrowers for fiat money. That is, for numbers written on banknotes or bank accounts. In that way, the participants become debt owners. Debt ownership then changes hands on the market. But of course, the nature of debt is that it needs to be paid. Meaning, the borrowers must return resources back to debt owners. That’s after all the reason why the banks use mortgages and other liens to force them to repay their loans. In order to repay their loans, the borrowers must work for people that have fiat money, or sell them products and services. In that way, the borrowers get the money for loan repayments and in the same time return the resources back to people that invested in debt. Basically, they pay the debt to debt owners. Then, they take the received fiat money to the banks as evidence that debt has been paid. The banks then liquidate part of their loans. The process repeats until the loans are paid off. If the borrowers default on their loans, the banks will foreclose their mortgages and sell the properties to those that have fiat money. That’s because fiat money is a legal liability of the banks, and the banks must withdraw it from the market to liquidate the unpaid loans. Hence, in the banking system numbers are used for representing the quantity of a real resource - debt. And it is this resource what enables fiat money holders, who invested in that debt, to return their investments. On the other hand, the Bitcoin system uses numbers for creating the illusion of a resource, given that no resource exists in this system. That's why the idea of Bitcoin system being some kind of alternative to the banking system is just a myth. And it belongs to Bitcoin propaganda that has the purpose to lure new investors into the scheme.
Interestingly, Bitcoin propaganda was very successful. It caused two mind-boggling things to happen. First, it pumped up the price of imaginary bitcoin from zero, to a high of $70,000, with the current price around $20,000. Second, it made the crypto industry to pop up. This industry makes huge profits from the most nonsensical human activity ever - buying and selling imaginary assets. Through the crypto systems people simply receive numbers on their addresses, and then they imagine owning digital assets in the quantity indicated with these numbers. Then, they advertise this as some kind of revolution and make others to pay even more for receiving the same numbers. At every such transfer of numbers, participants pay fees to brokers. Basically, they pay fees for joining or leaving pyramid schemes. Which is pretty absurd. It is one thing to pay fees for transferring the ownership of resources, which is what happens in real economic transactions. However, paying fees for entering schemes where people are forced to wait for new investors to get out is indeed pretty absurd. But that's not all. In order to keep the pyramid schemes alive, significant investments in computer hardware are required and enormous amounts of electricity are spent. For example, the analysis by Cambridge University showed that the Bitcoin system uses more electricity annually than the whole of Argentina. Besides spending so much electricity only for accessing a pyramid scheme is an insane waste of energy, it also makes the bitcoin pyramid an extremely negative-sum game. In prior pyramid schemes, the participants collectively lost nothing, given that the amounts won by ones were equal to the combined losses of others. In other words, people didn't pay fees to brokers, expensive computer hardware, and giant electricity bills just for participating in pyramid schemes. Those schemes were therefore zero-sum games. But in the bitcoin pyramid scheme, the participants collectively lose what they are paying for fees to brokers, computer hardware, and electricity. Which makes this scheme an extremely negative-sum game.
To conclude. Satoshi Nakamoto fooled the world by promising people revolutionary digital money in the Bitcoin Whitepaper, but delivering them a system for accessing an extremely negative-sum pyramid scheme.
Source:
https://btcfraud.wordpress.com/ 
That is why people call Bitcoin ....Digital Gold. 
