Quote from: Lochshire on December 03, 2018, 10:08:27 PM

Quote from: fxsurfer on December 03, 2018, 05:21:21 PM

Can you please answer one simple question: how can you utilize bitcoin, or in other words, what can you do with Bitcoin besides transfer it to another person? When you answer it you will grasp the full stupidity of links you provided.

Your argument seems to hinge on this single premise: That bitcoin has no intrinsic value other than something for people to trade back and forth.

If you look at every non backed currency in the world you will see the same thing. No value other than as a "product" to be transferred between people. Bitcoin is only a scam as far as pretty much every paper currency in the world is a scam.

Fiat currencies are debt based assets, i.e. products designed for people who want to consume goods and services today and return them in the future. These people are called borrowers. With newly produced fiat they have access to the pool of goods and services which gets filled via economic activity of the general population. But since borrowers have to repay their debt with salaries they received for their economic activity - their contribution to that pool of goods and services, this reduces their purchasing power, i.e. access to the pool. In this way they return goods and services back to the general population. All this is backed by collateral, and in case of borrowers default, their land, cars, houses and other property will end up in the pool of goods and services for the general population to buy with fiat that borrowers put into circulation. Now, are miners - those who put bitcoin into circulation, and in that way receive goods and services from the general population, obligated to return goods and services back to the general population? Obviously not.

So Bitcoin has nothing to do with fiat currencies. The latter are debt instruments. The former is scam designed to steal good and services from the general population.