The explanation on this video is totally BS! I think who created this video totally hate bitcoin because he only learned it lately and cannot afford to buy because its too valuable like gold, go and make another video entitled "fiat is fraud".
What's wrong with hating frauds? What's wrong with warning people about frauds? Especially people in a community that has most fraud victims?
Fiat currencies are fraud? Based on what have you concluded that? On corrupt governments abusing fiat monetary system? That's like saying that houses and cars are fraud because governments are destroying them in wars.
Fiat currencies are not fraud. They are actual market items that grant its holders the non-monetary repayments, which realises prior to every loan payment, as explained in the video. Cryptocurrencies on the other hand, are records (gift records/scheme membership records) that are falsely presented to the public as market items. For that reason they are fraud. This won't change by calling someone hater.
Since you pretend to be a "youtuber" that can't even bother to write your argument in plan text here but rather advertise an url hoping to increase views, Why don't you search in there for "fractional reserve banking"? You say fiat is not a fraud? You are in for a big shock. About 90% of fiat money doesn't exist.
But every satoshi is unique and accounted for, even if some will never move again, they are still there located in the blockchain for everyone to see.
You think printing fiat can buy all bitcoin? Just try it, you will only hyperinflate your fiat that way, while bitcoin remains still spread in many hands. You would cause a little pump at most, that will correct itself. So go ahead, convince a government to ruin their coin doing this.
So people are buying digital assets, just like online game items. But unlike online game assets each satoshi is unique. You can't just hack a database and make more appear out of thin air, its secured, more than fiat, where a gov can actually "print" as many as they want, just like you could spawn endless of the same item in a game if you are the admin.
Bitcoin is so useful, that its got its actual market price after 11 years of people like you insisting with the same lies. And yet, it exists, and people are still are trading their fiat for it.
I already explained why FIAT is not fraud. You ignored the explanation and just said that 90 percent of FIAT doesn't exist, which is nonsensical since FIAT is the liability of the banks and the right of its holder written in the balance sheets of the bank and granted prior to every loan payment.
Regarding the satoshis. This is just one of the two names (bitcoin is the other) for the blockchain records that confirm membership in Bitcoin scheme. When you give your electricity or some other market item as a gift, you are recorded with the numbers called bitcoins or satoshis. So people are not buying "assets" - asset is something that exists outside the record. People are buying membership stakes in a classical Ponzi or pyramid scheme.
