Quote from: qumatru on January 17, 2020, 05:24:46 PM

Quote from: suvo05 on January 17, 2020, 09:30:27 AM

Quote from: antikvark on January 16, 2020, 03:24:31 PM

The video explains how Bitcoin turns your ownership into membership, which is exactly how classical fraudulent schemes operate.

https://youtu.be/C5RplXYwCyY

This is not any secret and it is not required to expose. Every bitcoin holders know that physically the bitcoin has no meaning. It is not regulated by a single person or a team. It is well established now and fundamentally there is a huge difference between fiat and bitcoin. In the video you have tried to compare it with Ponzi schemes but Ponzi is not open-source and it is totally regulated a person or team as the members got engaged into the team the total amount of the scheme got rise and only the owner of the company have all the rights on the money.

Bitcoin is different from all other money systems. We cannot compare it with anyone of them. It acts as a strong system of payment without any support or governance. Though it is still in the phase of development, it is very well established and developed system. Other systems are governed by the authorities, governments, banks but it is self-governing.

Bitcoin is not a money system as money systems transfer either goods (commodities) or entitlements. Bitcoin, on the other hand, is a system for transferring digital membership certificates. Membership certificates are not money.