Re: Bitcoin Is Not A Democracy. Then What It Is?

Heck, what are you talking about?

I guess you should go find out what the term cost actually means. As per dictionary, the cost is "the amount of money that is needed in order to buy, do, or make it". In this case specifically, cost means how much you paid to be able to close the whole business. If you are the creator and premined 51% of all coins, that would likely cost you only electricity consumed and time spent on developing the coin. Honestly, you are now shamelessly twisting your position so that it could somehow look even remotely plausible while in fact it is completely untenable

Not really. It is simple economic logic. If you build something for 0 that is worth 21B, your earned 21B at no cost. If you then destroy it, you destroyed 21B of your value. Therefore it cost 21B.

I don't see the flaw in this argument

No, this is nowhere near the case

As I told you before, you are distorting the concepts and twisting the terms so that your "theory" could look somewhat plausible. If you created something for X amount of money (i.e. spent that amount of resources in monetary terms), it cost you exactly that, i.e. X amount of money. If you lose it or intentionally destroy it, your losses would amount only to the costs that you incurred while building or creating it. Your costs simply can't magically turn equal to the current market price of whatever you chose to dispose of. If what you say were even remotely true (i.e. costs would always be equal to market valuation, which is your point), no trade would be possible altogether. Really, why would anyone want to sell anything for no profit at all? In short, stop talking bullshit

You are mixing Unrealized and Realized gains in the mixture.

But through your rationale, if someone gives you 100 BTC today as a present, and then you lose the Private Key, you would say you lost nothing. It didn't cost you anything. This is only true if you consider BTC doesn't have any value, present or future, unless you realize it in FIAT

Why are you so consistently trying to distort the meaning of the words?

If someone gave me 100 bitcoins and I lost them all, that would mean only that, i.e. me losing 100 bitcoins, and I would say that I lost 100 bitcoins, as simple as that. But that doesn't in the least mean that they cost me anything in monetary terms (let's assume for simplicity that I just found them to avoid unnecessary complications). Loss and cost are different things, which you seem to be deliberately trying to confuse here, again. Aside from that, costs have nothing to do with either realized or unrealized gains. Open any economic dictionary (or textbook, for that matter) finally and read for yourself. Gain (otherwise known as profit) is the difference between what you received when you sold the coins and what it cost you to obtain them. If this difference is negative it will be a loss. I'm really fascinated that you are still trying to continue this futile argument, or do you really think that having the last word in it will somehow make your point more plausible?