LOL, you seem to have a 19th century mindset, difficult to say where to start explaining the world but it would take a long time and need a paradigm shift to get the 21st century.
You remind me of the recent movie about Turing: The imitation game - they also laughed at his worthless machine.
I have read biographies on Turing in things called "books" because of his contributions to the field of computer science, long before a dramatized version of his story came out as a movie in 2014.
Apparently your math, engineering and programming background is nonexistent.
I suppose. I make a living using and writing with my non-existent skills. I sure fooled 'em.
How did you end up on bitcointalk and WHY?
Apparently I like to argue with crazy people. I also use bitcoin, and I think it's a revolutionary invention.
Btw, mining physical gold is also virtual because machines are used in the process?
PHYSICAL gold has
intrinsic value because it can be used for other purposes in the real world other than as a currency.
You cannot make the same statement about a crypto-currency.
Bitcoin mining work creates a worldwide decentralized payment platform. This is the value you are missing.
Bitcoin has value because other people perceive it as having value. You can trade it for something for something else of value, but you can't do anything useful with it other than to spend it. The same thing can be said for any fiat currency that people use in trade.
A commodity currency has the additional property it can be used for something other than money.
Read your last statement. If you are trying to say that a fiat currency is a commodity because it has value as a fiat currency, then you fundamentally do not understand the difference between a fiat and a commodity currency.
I personally think the bitcoin eventually become a better form of money than other fiat currencies (once it has a history of price stability), but I'm not going to pretend that it is a physical commodity.
Book suggestion: "The Emperor's New Clothes" by Hans Christian Anderson.