Quote from: MiiDoViic on December 30, 2017, 10:28:37 PM

Quote from: DayRider on December 30, 2017, 07:01:08 PM

Exposing crypto currencies as ponzi schemes and showing that they never had nor ever will have anything to do with money is an incredibly easy task to do. All one needs to do is to look at one simple concept -the concept of number. A number is defined as a mathematical object used to count, measure, or label things. Now, given this concept let us ask one simple question: What 'thing', is measured, counted, or labeled, with the number called bitcoin?
.... the rest you can watch in this short Youtube video:
https://youtu.be/gcNngl8fCUY

oh thank you so much for defining what a number is could've never guessed .
Did you ever hear of the theory of value ? There is no value without exchange . Bitcoin has an exchange ,thus it has a value.
the Price and numbers alone aren't a factor to determine weither bitcoin is a scam , same goes for every fiat currency.

I am sorry to disappoint you, but bitcoin has no exchange. You cannot exchange bitcoin for something because bitcoin is an abstract mathematical object. It cannot provide utility. And without utility there is no value to be exchanged. Bitcoin price just shows how much goods, services or legal claims(money) people are willing to throw away. If I throw away my iPhone and my friend records this by writing my name next to the number 1, this won't make number 1 valuable. Number 1 is still a number, it's still a mathematical object without utility, without value and as such it cannot store, measure or hold value of something. This is also true if my friend spends enormous amounts of energy to generate this number - to mine it via brute force. Number 1 would still be worthless mathematical object with no practical utility. This is also true if I give a fancy name to this number - for example iPCoin. I can call it whatever I want but this won't make it practically useful. Crypto system is basically a child's play. All it does is generates, stores and transfers empty numbers between members.

The so called crypto market is not market at all, but a place that records how much values(goods, services and money) people are willing to throw away just to have numerical record of it. Calling a numerical record an asset, money, currency, tokens, coins, digital gold, won't make it valuable. Numerical value is just an emergent property of measurement of some object or emergent property of some mathematical or real relationship and it cannot have value in principle.

For example, number 100 next to the simbol "$", which is recorded in a bank's computer, measures the size of bank's liability towards a depositor and this liability is the result of a loan contract. This number is therefore just an emergent property of the loan agreement. It is a numerical representation of an actual object - a real legal relationship between the bank, borrower and depositor. It is an abstract object that measures something and it has no value on its own. This is like using number on a phone bill, to measure a legal claim of a telephone operator for telephone service . It is not the number that has value. The claim is what has value, while number is just a numerical representation of it.

Bitcoin however, is not a numerical representation of some legal claim, some legal agreement, or of someone's legal liability. It is not an emergent property of measurement of some actual object. Bitcoin is literally an empty and useless number. People are throwing away goods, services and money just to end up with valueless numbers. In order to rationalise this foolishness they gave names to this numbers or call them assets. This is like throwing away your iPhone, make record of it, then call this record an asset and saying that this 'asset' has value. It's really mind blowing how easy is to manipulate people. You can really make people believe that an abstract mathematical object is an actual asset. You can really fool them to give you real tangible goods, services and legal claims(dollars, euros, pounds) for numerical records on the internet. You can really trick them to give something for nothing. All you need is good rhetorical skills, some story that they are part of some new magical kingdom without evil governments or banksters....and you can do whatever you want with them. Albert Einstein was right when he said: "Two things are infinite: the universe and human stupidity; and Im not sure about thuniverse!"