Topic: How Satoshi Nakamoto Fooled the World - page 6. (Read 8983 times)

Apart from the article being pure garbage and unproven accusation after unproven accusation that could fit to anything you apply to it. One example being this:

Sending email is utility, but sending value/ payments is not? The amount of mind bending is insane.

The author also has competing conflict of interests that he didnt explicity state, because he runs a company that sells OLTP Solutions¹. Making money on selling garbage, centralized fiat infrastructure, ofc this can be counted as a whole propaganda piece against Bitcoin then. From the writing style of providing no sources, the article already starting out with some wikipedia and the whole evaluation model already being completely unapplicable to have practical results(it can be applied to anything), we can already guess that this author has no practical experiences in academic writing, not a necessity but doesnt help his case either. The only piece of cred found was some shitty 399$ course on Blockchains². Why does it matter? If i used this shitty article as a reference in academia i would either get kicked out or cringed at heavily. Its no necessity to have a degree or anything to put out good information, but this one is a good example of why we have to analyze sources first. And again i dont care about his degree of education, as an academia degree isnt what defines education in the first place, but the quality of this article is a walking red flag and is unusable for any professional work.

And here as a end note, to make it obvious why stating conflict of interests matters and i didnt mention this for no reason:



[1] https://ca.linkedin.com/in/salbayat
[2] https://101blockchains.com/academy/ https://www.credential.net/18134a57-15cd-4fea-b333-a8a93b453729#gs.g7utld

Its psychology of the masses sadly, defying all logic or facts. When they lack social bonds, meaning in life, are anxious and frustrated they just need to get served one narrative that creates a common enemy and they will go nuts and will form a bond of sheeps. Then they do everything to make this bond survive and to keep the feeling meaning alive, no matter if its completely unethical or plain wrong. They can hide everything from the masses with this strategy, no matter if its the causation of inflation, that fiat is a predatory system or that Bitcoin isnt the cause of energy problems, they can just blame Bitcoin anyways and people will do as told. The only thing we can do against this is go against these false narratives again and again, to not let these sheep get out of hand in their ecstasy of craziness. Ignoring doesnt work sadly, as it only strenghtens their irrationality if they stay in an echo chamber.

You've deliberately missed this one:

Read the OP. I rewrited it. You'll see that semantic is not important.
Bitcoins are tokens of ponzi participation. Satoshis are tokens of ponzi participation as well. There are 21 quadrillion of those tokens.

The funniest about his trash is that he might know the real truth but because of what he earned being paid in peanut makes him to deny the truth and yet recruiting another alt in likes manner, i don't know what the world is turning into, here's the truth and here is the lies with money, people will still go for the wrong choice all because of what will pass through their glutonic unsatisfactory throat, i also wonder how shameless Snowshow could be without noticing he's been odd over this while, what a shamelessness.

You give up ownership of an asset in return for fiat/ or give up fiat in return for assets. Fiat doesnt record what assets you own, you exchange it for assets. You can have a lot of assets and zero fiat, because fiat doesnt even record what assets you own in the first place.

This is literally what makes people rich in this system, minimising fiat holdings, and maximising assets being held. This is the only open secret regular people dont get yet, because they wanna maximise their holdings in fiat, even tho it makes them poorer over time and they are hesitant to acquire any assets/ or knowledge about how things work. Fiat currencies just record how much fiat you own, its not different from Bitcoin in this. After this logic any money is a fraudulent investment scheme.

Oh my God! You are still here???

I don't know where you get your data about Bitcoin, but if I'm not mistaken, there will be maximum 21 million Bitcoin. Not 2.1 quadrillion. Do you even check things before you post nonsense?

If Bitcoin is fraud, how come no one is being arrested for using it?

Well you can keep repeating that debt has no value but those that own it by holding fiat currencies, literally every minute, all around the world, receive labour, products and services from the borrowers, who in that way pay their debt. Debt is liability of one and asset of another. Fiat currencies are simply records of asset ownership.

On the other hand, bitcoins, plus satoshis, are just tokens of participation in a fraudulent investment scheme. That person Nakamoto set up a system to produce 2.1 quadrillion of these tokens, and those who want to invest in his fraud buy the tokens or invest electricity in them. After that they own nothing and hold the evidence of fraud participation. Hence, Nakamoto invented a modern way of recording the participants who joined an investment fraud.
  

What? Don't join the debate? Who are you to give orders to anyone? lol As already been said, don't start creating dupe accounts just to give some credibility to your shitshow!

FYI:
Hard money definition
https://www.investopedia.com/terms/h/hardmoney.asp

Or Sound Money:
https://www.soundmoneydefense.org/sound-money-explained

On top of what is said there, Bitcoin holds a few other properties that I think I have already mentioned but not sure if it was here, but I mention them again

Durability
Portability
Divisibility
Scarcity

There are a few others that might not have a specific name such as the property of keeping it's value over time but not in the sense of numerical value. In the sense of the value we give it today by its properties, by what tit represents, by what it enables in terms of privacy, etc.

So, something that you say doesn't exist in Bitcoin, IT ACTAULLY EXISTS, and even more than that!

Not. Crypto is too common. Bitcoin is special to me. I'm only interested in Bitcoin and not very interested in crypto for reasons like you mean.
Bitcoin is very different such as ICOs, NFTs and some others that have nothing to do with Bitcoin and I think a more detailed explanation between Bitcoin and crypto needs to be conveyed so as not to be mistaken because the main purpose of Bitcoin is very good to be used as an asset of the future. Therefore, I am not worried about its price drop because I do not judge Bitcoin in terms of price but from its basic purpose.

As you said in the past they represent a specific amount of gold. This is not the case anymore. Today you tell that it does represent a quantity of debt. Can you cocaine weakend brain calculate for us how much debt a 50 USD bill contains or is this "money represents a quantity of debt" thing just something you are going to tell until people are to tired to question the bullshit you post here every day?

Snowshow.  Do you consider it a good idea to create another account and then argue your same bullshit points, in order to attempt to make it appear that there are other people in the world who believe the same nonsense that you are getting paid to repeat.. parrot your dumb points.  You might get into trouble for that no?  In the way that you are doing it, it is a kind of deception, right?

Debt can be handled in Bitcoin too, theres no point here. The question is not wether or not debt is an asset. We are talking about forms of money. The claim is that debt is what gives fiat its value. But at the same time we know that debt based money creation has the consequence of debasing ones currency, which makes it less valuable over time, the more this process is being repeated. Which is already a contradiction in itself.

I will ask some questions now, to see if you even have the capacity to understand this topic, sadly its necessary because the amount of trolls is huge. What would the criteria for a hard and sound money be? And why cant Bitcoin fulfill it?

Can software have value and impact on the world? Theyre all just digits if we go down to machine code.

If software can have value, what value would a system have, that has made a breaktrough in computer science by making it possible to store information in an unforgeable, uncensorable, open to anyone way without needing a central entity, and uses this foundation to issue money?

The oldest reference from the whitepaper is from 1957, but we can also choose the second oldest one, as its more related to cryptography. So we have atleast 28 years of prior research that lead to this moment. We have more than 15.000 nodes running the software all over the world, building a network and enforcing rules. Millions of lines of code, some of the best maintained production software there is, over 800 contributors that are really good in their fields. Interdisciplinary knowledge that shaped its architecture. An active community that is engaged in many things and wants to see humanity progressing. Is it all just pure faith or actual work?

If the status quo financial system is good, why didnt Bitcoin stay at 0 market value? As it shouldnt even be able to compete against a superior system that is so beneficial, yet it is competing.

Name them.

Don't join the debating club. 

- Regarding value in debt:  I hold a mortgage on someone's property.  They pay me interest on the loan as well as pay back principal.  Their debt is my asset.

- There is no hard or sound money aspect to bitcoin.  It is digits on a computer not backed by anything except pure faith and a hatred for the status quo financial system. 

If anyone is guilty of soaking up crap - it is people who are belligerent to the facts.  That is basis for a good con. 

@shitshow, excuse me @snowshow, you are the one who started this troll. Your ignorante stand is the ridiculous one here. I tell you once more that your shiat coin represents shit. Debt is no resource as it has no value. You only say that because that's what you have been told by keynsian dumb fucks or read somewhere in the internet and you just swallowed it like a lamb. You have no own critical reasoning. You just soak up the first crap you're given. So, don't keep repeating the same old shit keysian dum asses told you. Because that's what you've been doing for the last 30 or 40 pages. Is that your shiat coin represents a quantity of debt. Debt created by banks... As these 2 statements could ever give any value/resource to debt. No, there is no value in debt.There is only keynsian imagination in debt. There is only your imagination in debt and in your shiat coin.
And what banks balance seets tells you means nothing because they can put there whatever they want, true or false, that you'll kust swallow it like the lamb you are.

On the other end, Bitcoin has value basaed on technology, criptography, math, computer science and through all properties of a hard/sound money. But you, as a lam you are, can only soak in the crap you were given and you can't even judge that same crap and add 2 to 2 and see that something is not adding up.

And more, you are refuting nothing. Your claims are just more of keynesian crap. Those lords you menitoned all made their fortunes with you shiat coin while others lost evertything to those fucks. Give an example, just one, since 2009 of the same happening in the Bitcoin network, due to the system itself. And don't bring mtgox or any other custodial services or any other shit like that, because that has nothing to do with the Bitcoin network it self. JUST SAYING!

You seem to recognize that there is a difference between bitcoin and crypto.. but you are still juxtaposing those terms and even suggesting that bitcoin is just a part of crypto.. which is a kind of shitcoiner (and a confused persons) way of talking about the whole matter including actually knowing what is bitcoin and not being afraid to focus on talking about bitcoin as a force in itself.  

Don't get me wrong. Sometimes I also use the term crypto and/or talk about various cryptocurrencies (aka shitcoins), and even describe some other projects and dynamics in broader "crypto" space, such as NFTs, ICOs, Defi and perhaps some other projects that may or may not have some connection with bitcoin.

Yes.. it is a kind of pet peeve of mine, but there seems to be way too much lack of clarity in the way the terms crypto and cryptocurrency is being discussed, and it seems to me that if we are mostly talking about bitcoin, then there is likely no need to even mention crypto or cryptocurrencies, but sometimes if we are talking about various dynamics beyond bitcoin then there might be some kind of need to bring it up.. so accordingly, if we are talking about what satoshi did, to me, it seem way more appropriate and adequate to proclaim that satoshi was building bitcoin, not "crypto".. yeah.. satoshi did mention some other crypto currencies in his various forum interactions, but it seems quite in accurate to be suggesting that satoshi brought "crypto" to the world - even if satoshi himself recognized that the dynamic of just creating bitcoin was quite likely to spark a variety of imitation projects, forks and even snake oil salesmen and snake oil products.

So I suppose part of my own ongoing desires to combat the loose framings of bitcoin as it relates to various other aspects of the space has to do with how various shitcoins, scams and even shady folks are using that kind of vague language to confuse people in regards to what is bitcoin and what are bitcoin projects as compared to some of their projects that may or may not be as closely related to bitcoin as they are making them out to be.


I already addressed this point.  I see little to no purpose for you to raise the point again, unless if you might wrongly conclude that if you keep raising the point, your incorrect assertions contained therein might fantastically in your dreamlandia become true.

By the way:  Fuck off with giving me assignments, you dweeb.

Another point that might be worthy to raise is that your practice of ongoingly changing the title of this thread further buttresses why no one (neither this cat nor anyone else) has any obligation whatsoever to go back and read your ever-shifting bullshit (whether in the OP or any other posts that you made)...

Sure, if you had been trying to genuinely work with ideas around this particular topic and you had shown that you were truly trying to learn along the way and to make fair changes that were in line with some semblance of the original topic.. or even if you had been keeping the original title and then just adding new titles and showing each version of the title in the OP, then those could have been potentially fair and reasonable ways that you could have been fucking around with the thread title and the substance of the OP.

You have not even come close to showing yourself as any kind of genuine player who deserves any deference when it comes to matters related to this thread.. and to reiterate, I have already stated in my earlier responses to your earlier beseechenings in this direction.. which likely establishes that I have been way more on-topic and even providing something that was more lacking in gobble-dee-gook than uie-pooie.


WWWWWWRRRRRRRROOOOOONNNNNGGGGG

As soon as you open up some kind of criticism from your perspective (as lame as that might be) regarding how bitcoin has no value (or any variation of that), then all kinds of assessments of value and price become relevant in the discussion, even if you are proclaiming that they are not relevant.

Huh ?

There is nothing false or sensational in this video.  Here's another take:

https://jacobin.com/2022/01/cryptocurrency-scam-blockchain-bitcoin-economy-decentralization

People are buying into the "coin" of bitcoin when there is no such thing - it is merely a set of digits referring to  an entry in a closed system in cyberspace.  One of the greatest marketing schemes in history that has made some rich and hurt many people.  Using it is a store of value works until people eventually wake up to realize there is nothing there except digits.