Quote from: X7 on March 07, 2019, 01:45:23 PM

Quote from: fxsurfer on March 07, 2019, 01:22:13 PM

Quote from: X7 on March 07, 2019, 01:16:06 PM

Quote from: fxsurfer on March 07, 2019, 12:53:48 PM

If we start from a simple and undeniable fact that SOMETHING cannot appear or despair by changing entries in a database, then it is obvious that so called Block Reward, which is just an algorithmic change of entry in a database(blockchain) from 0 to 50 initially, is actually the creation of NOTHING or nothingness. But people did something strange they gave a fancy name to this nothingness Bitcoin. So, a mere change of entry in a database is given a name, which is in itself a bizarre thing to do. But anyhow, here is where the language manipulation kicks in. Changing entries is obviously just a database management and it belongs to the field of informatics. But what people did is they took the definition of "payment" - which belongs to the field of economy, and they copy/pasted that definition next to the phrase "change of entry in a database". This created the illusion that when you change entry in a database(blockchain) you are actually transferring SOMETHING to another person, i.e. that you are paying. But payment is transfer of SOMETHING (rights, services or goods) from one person to another.

For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment SOMETHING (rights recorded in the banking system) are transferred from one person to another.

But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.

This is not accurate, payment is not the transfer of just services rights or goods, it can also be money if there is a consensus between a group of people that X is worth Y - then that thing is viewed as valuable. Usually due to some sort of utility or feature that it possesses.

Here you see the birth of programmable money, not issued by a state but rather founded in cryptography, accountability is achieved via a transparently distributed ledger.

You are arguing from an angle based on what looks like clear bias, there are several accounts in history where people agreed upon something having X value and traded it as such, this is what happened here. People see the utility this thing has and agreed that the market value is X.

It is just social economics and math + some good utility at play.

Well, the point is that payment is transfer of SOMETHING. Throughout all human history money has always been the ownership of either commodity, gold certificates or certificates of borrowers' debt(fiat money). And all these items are not nothing but something. Thus, Bitcoin is not money - money cannot be created by changing entry in a database.

This is by definition what fractional reserve banking is doing, changing entries in a database and creating 10 times the money they actually have on hand.

There is little point in continuing this discussion when all you desire to do is fight your angered point of view, rather than look at it objectively.

Wrong again. What fractional reserve banking is doing is issuing, securing and repaying loans, while entries in a database are just means to evidence that process.