Topic: How Satoshi Nakamoto Fooled the World - page 5. (Read 8965 times)

It’s open source, the amount of talent that worked on this and the research that was being done, is worth more than any shitty centralized company could afford/ be able to pull off. It was the most successful asset of the last decade, this doesn’t happen accidentally or from pure hypes, it’s work. - Nice try to talk down on something that is open source, and try to criticise it because it’s not in private hands. Logic.

There is a community, there are contributors in various forms, there is a software and a network that’s holds more value than some countries, people are profiting, businesses that build on Bitcoin are generating revenues.

Then some countries will go bankrupt, but sure let’s believe in this fairytale. And let’s believe that Bitcoin can’t survive in an 3.5% interest environment, when inflation is over 10%. Every investor in the world will run into bonds to have some guaranteed losses. The most sound money in the world couldn’t survive this, while being the actual fix to this economic mess. Bring the interest rates on, it will only make it more obvious to people why Bitcoin is needed.

So stop listening/ reading now and just verify it.

He may even understand that despite the fact that he doesn't recognise it. The point he's missing since ever, is that if we both agree that that paper with the word "Thanks" has some kind of value, then, the transfer of Bitcoin for that paper, is doing exactly the same as what he has been repeating over and over again about shiat money and resources and debt and shit!
But he is too ignorant to amit it, so he keeps repeating the same shit over and over about imaginary numbers and ponzi schemes and etc, when all these phenomena actually happens in hhis shiat mony system.




Funny that you say that. It's that you seem exactly that bot, because you repeat yourself countless times, just like a clock in the kitchen wall. You seem a silly robot with a loop, repeating the same crap over and over again and you seem alo to have some inteligence deficit.

The whole "digital asset" meme is a sand castle built on the shore or a rising ocean.  With bitcoin - there is no company, there are no employees, there is no product, no revenues and no profits.  The value they say is "the network itself that is growing exponentially".  Digits on a computer masquerading as digital assets for a group of people looking to get rich quick or motivated by a strong distrust of the fiat money system.  Many of who have only been alive in a falling interest rate environment.  If rates go above 3.5% - look out below - for everything.

There are profits to be made pushing the bitcoin narrative - and an entire industry has grown up around it.  They love you and want more of your money.  Don't listen to the naysayers - they don't understand cyberstuff, you are a genius, and there is no stopping the B-Train.  Only one problem: look closely and the network itself has to be accessed through a series of gates (physical & political) that that are outside the control of the network.  Sand castle on the shore. 

Michael Burry understands:  https://youtu.be/H7PHNGtgDwg 

"Money for nothing and chicks for free"
"If it sounds too good to be true - it usually is"
"Don't say no one ever warned you"

This thread title reminds me of a clip from the show Seinfeld...  They fooled ME Jerry...  or was it, They FOOLED me Jerry?  In any event, whatever fooling satoshi did, I'm glad I was a victim of it.  You can say what you want about how Bitcoin has progressed since it's inception or satoshi's departure, but you can't deny that the public blockchain and mining incentive/security innovation was a great step forward and truly a needed creation.  That genius has carried Bitcoin to where it is today, much more than any software development or advertising campaign.  Great ideas are hard to bottle.

https://www.youtube.com/watch?v=SpVOhPps6x4

I agree with all of your points BlackHatCoiner, including that those who participate directly in bitcoin will receive more benefits than those who do not; however, I do believe that even no coiner twats like Snowshow will benefit from bitcoin and in terms of there existing a more fair money that causes unfair systems to try to be more fair if they want to survive.

Of course, no coiner Snowshow is not going to recognize or appreciate that he is getting indirect benefits from the existence of bitcoin, even though he is personally refusing (or believes that he is refusing) to directly and/or consciously participate in using my lil precious.

Or maybe he thinks possibly that bitcoin mining itself is a joke or a mere child's play like drinking a coffee inbthe cold of the day just to shed away shivers, maybe he never knows about what PoW is in bitcoin or needed to understand the whole concept behind bitcoin and its use and applications, if not an ordinary person shouldn't be arguing this far with baseless talks all around, @Snowshow why aren't you keen to learning? Yet you keep insisting on wrong ideas that does not exit, don't you want to grow?.

And you advocate a system that inefficiently transfers IOUs, doesn't store or protect anything if the bank in question fails and may not be available on Bank Holidays for some transaction types. 

The simple fact is, the utility Bitcoin provides is real.  It performs functions fiat cannot perform.  It provides guarantees which fiat is unable to provide.

Are you out of arguments? Poor you.

Because i use the criteria that is used to evaluate money and not some OLTP Systems salesman hurt feelings.

Bitcoin does the job it’s supposed to do, no matter if a fiat market exists or not. I can transact either way, while your fiat payment method will always need counterparties and trust to work, which opens the doors to fraud and exploitation, without a guarantee to prevent this.

In your dreams maybe. Anyone can verify this information themselves from top to bottom. While it’s not even possible to audit the code of fiat payment systems. They can do false advertising without you ever being able to notice it.

Are you some kind of advertising bot for luring people into Nakamoto's Ponzi? You're just keep repeating the lie that bitcoin is money.  You're keep repeating that bitcoin has utility although you know that without new investors bringing utility from the outside bitcoin holders have nothing. I mean, the thing that you are doing is obvious false advertising. And the promotion of an online fraud, spreading disinformation.

He is making money from selling fiat infrastructure, probably shitting his pants of how much traction Bitcoin its getting and how many transactions lightning/ side chains can handle, as it will make his centralized, garbage irrelevant. With Open Source you only have to solve a problem once. When you asked a horse salesman what he thinks about cars, when they just gained traction, similar actions probably occurred. There is always some shitty salesman that wants to prevent innovations, because they are „dangerous“ and „harmful“(but just to his business).

There’s nothing that makes sure that it is something of interest, most emails are useless spam or uninteresting.

Keep ignoring reality. It has purchasing power that you can send over the internet, in a way that no shitty centralized fiat infrastructure can, and its saved into something that has the best monetary properties invented so far.

It’s not, it has more utility than fiat payments as there is no middle man, so you have payments without a counterparty risk. It’s literally impossible to get scammed like this, while your beloved author has the power to scam people, and everything relies on trust. For this reason alone it’s priceless.

There’s people like emigrants that want to send their families and friends money at home, but most of it is eaten by banks, governments or smugglers. They exploit the poorest of the poorest, something your author isn’t mentioning. With Bitcoin you can send money trough any border, smuggler or whatever corrupt barrier there is, that is preventing your money from reaching where it should go. Something that can change the world, when poor people can potentially fully receive their money in an unconfiscatable way in the future. The technology is here, now it’s just a matter of adoption. El Salvador is starting with it, it’s a legal tender so you can use it to purchase any resource you want, guaranteed.

And it’s not like only them could use something like this, any person benefits from not having a counterparty risk, because our counterparties(financial institutions) are completely reckless in their actions and completely devalue our money and negatively impact freedom to transact. Bitcoin is the definition of utility and the purest money there is. It will just disappoint you, if you want to use ur money as toilet paper, as it won’t waste time on being things that don’t matter.

That's how bitcoins, that is, ponzi tokens, are sold to naive and gullible people. You introduce a system which efficiently transfers, stores and protects the record about the amount of ponzi tokens, and then you advertise that this is benefit or utility of the tokens. So, it's not my analogy what is the problem. But your naivety and gullibility.

Analogies isn't your strong point.

A "Thanks" sticker can't be sent across communication channels nearly instantly, in a censorship-resistant fashion. I can't send it across the world for a cent. It isn't resistant to confiscation. It can't be possessed in a divided manner. It doesn't grant me the access to an independent and transparent network, wherein users can verify that it has changed hands, without knowing who's the new owner. Sticker users can't verify who mints them, how many they are, how hard it is to create new ones, which part of the supply they own, because there's no transparency. Owning stickers doesn't give you the option to store messages on an immutable ledger.

With bitcoin, you do gain these benefits. That's why we're all willing to trade monetary value for it. You can whine about it, make videos, call it ponzi, lie about non-existent resources, bring friends to this thread, but you won't get to enjoy these benefits otherwise. We do.

The author is right. Sending email provides utility because email has info about some aspect of reality that is of interest to the receiver. On the other hand, bitcoin that one receives provides no utility. It's just a token of investment in a Ponzi scheme. It's like if you would give me $100 and in return I would give you a paper sticker saying "Thanks". If you would give me $200 I would give you two such stickers. What utility can such stickers provide to you? None. Regardless if you see "value" in them. They are not like casino tokens that a casino is liable to redeem for cash. That's the difference between value and utility. Bitcoin is like a "Thanks" sticker in a digital form. It provides zero utility but people see value in it and that's why they purchase it.

Let me add one drawback of verifying gold or even melting your gold. It will break the fungibility of it in the process, as gold coins/ bars we acquire need to be manufactured by some renowned mint. Otherwise you will loose some degree of saleability/ market value in the process. It’s hard for a regular person to even verify their gold or use it freely in some other way, without some major drawbacks.

Thiers law can also be a good indicator on how a potential abandonment process of fiat could look like in action. Bitcoin is ultimately money and will be used as a store of value and medium of exchange when the time is right, no intervention necessary. That is what is mindblowing to me, as it makes all the fiddling and policies economists try to introduce completely unnecessary, as the market can handle it itself when a pure form of money is introduced.

The gold standard was a lot better than fiat for the average person, but also suffered from the trust based model and the lack of verifiability. And ultimately failed, because politicians could simply abandon it whenever they like, without a possibility of verification or stopping it. Ultimately the most sound money can only stay sound if it can overcome the wickedness of man, and there is no other approach than Bitcoin so far that comes closer to this. Everything before this failed for this simple reason, and will fail again for this very same reason.

Bitcoin is the only attempt so far that can possibly resist this path, so it is the only sound money possibility worth pursuing in this day and age. Bitcoin is the only money that possesses this quality at the moment, and will grow more and more in value if it stays this way. It’s still highly undervalued at the moment as the average joe doesn’t realise what huge difference this simple property would have on its life yet.

Im sorry but I think when you wrote the reply you must have been in a hurry, since I can't understand what you are trying to say  Anyway to me it is crazy that a tread like this can live for so long and especially that the OP is not tired already. It makes me even think that this a group of people that spamms the forum with anti bitcoin propaganda to fuel the bear trend,

The reference given have not justify anything concerning the discussion. When you check some communicates do not post and discuss what is in line with our discussion, with  what I'm seeing right this conversation doesn't have any significant meaning and what some other people will learn from. I like the way you responded to him ir what he Said here is just a trash, so i believe that it suppose to reread and understand it's fault

You are absolutely right. I forgot that important one. Verifiability. But even gold was way better than the shitshow we actually have. Like, I think about it this way: before 1971, the world was under the gold standard and as Ron Paul said countless times, the price of US dollar was roughly stable. That means something. That even without them knowing about what was to come in 2009, gold was te best element to back up the fiat system, from the people's standpoint.
This guys says it all in a few words
https://www.youtube.com/watch?v=dfWgmw435YE
He knows what he's talking about and he knows what will come. And see what is happening today... Just what he said. fiat losing value, people freedom going to near 0, bankrupcies, corruption, lies, etc.

Yes, Bitcoin will take time. That's why I keep saying and "explaining" over and over again about the importance of Time Preference. Probably one of the hardest concepts to soak in, accept and actually put in practice.

I must admit that this part is funny Snowshow. Even though I am a meanie who is laughing at you rather than with you.


There are 2.1 quadrillion satoshis... you are correct, and satoshis are probably the most appropriate reference unit in bitcoin, even though we also know that in recent times, there have been transactions on the lightning network in sub-satoshis arena including millisatoshis, which are 1/1,000th of a satoshi?


Personally, I like the idea of Verifiability. It is quite powerful to be able to verify that you have real bitcoin.  It is really difficult to do that with anything else..

gold?  holy shit what a nightmare.. especially on a system wide level, even though it might not be so difficult if you have a coin in your hand and you melt it down or whatever it is that you have to do to really have confidence.

fiat?

Equities?

Property?

Some of them you might be able to verify.. but then you add the other properties that you mentioned darkv0rt3x, such as portability... or divisibility, or scarcity.. then you run into challenges of each and every one of the potential competitors as being quite a large way inferior to bitcoin.. one of the reasons that bitcoin is about 1,000x better than its next closest competitor (gold), even though bitcoin has less than a 1/20 market cap of gold.. it might take bitcoin 50, 100 or even 200 years to get to 1,000x higher price than gold (referring to market cap), yet Gresham's law dynamics will continue to push these valuations versus price in a likely to be more true direction/assessment.

We all know you don't understand what that means. It's clear you can only process 2 things. Nothing else.
You explained nothing about Bitcoin because you don't undersrand it. Stop saying you did this or you did that, because you did absolutely nothing. You can't even understand your own words, let alone other people's words.
You can't interpret what Bitcoin is, what it represents nor what makes it the best financial/economic tool mankind ever seen.
You're the only one that cannot understand what Bitcoin is. You're just lying to yourself.You're the one needing some basic education. Can you even compute 2 + 2? Let's test it please!
Do you know the meaning of propaganda? Or about demagogy? Do you need me to send you a link to an online dictionary or you can find it on your own? Do you know what a Ponzi scheme is? No, you don't know, you can't understand nor you want!

You can also keep repeating yourself over and over. You only know 2 things. The only ones you keep repeating. You are ignorant deribelatly when you say there are 2.1 quadrillions of whatever you say and this is simply not teu. It's not true. NOT TRUE. Are you blind, deaf or just stupid?
Once more, Bitcoin is not fraudulent. The only thing fraudulent is debt and shiat coins. You know you gonna get nothing out of here, yet you still trying your dumb narrative as if anyone is going to fall for it.
Your claims would make sense in some shiat coin forum, but definitly not here. You seem a lam looking for grass in a dungeon of hungry lions. Poor thing.

Bitcoin is not only not fraudulent, but it has so much value that any shiat coin will ever be able to compete with. See how much purchasing power the shit dollar and shit Euro lost until today. See how much value Bitcoin lost until today! lol. You're ridiculous!


HHe doesn't understand what that means. He only knows about 2 things. Fiat currency represents the quantity of a resource and that that resource is debt! That's all he knows. Nothing else. He can't even tell the difference between millions abd quadrillions, let alone what is debt, resources or even value! This guy is ridiculous but I'll keep posting, because posts are giving me "numbers of a ponzi scheme that happens to be liked an appreciated by thousands or even millions of people around the world!