2. Stocks that are sold on earlier in a day on intra-day trading are fake - because the seller never possessed the stock to begin with.
It's not per my logic. This is per my logic:
2. Stocks are statements about companies. Companies exist.
My statement was specific to sellers who engage in intraday trading and sell a stock that they don't even possess. Even if the company exists and the stock exists, the seller would not have the stock at the moment of selling the stock. But still it is considered as valid? Why? Because it is an acceptable practice.
Similarly, Bitcoin is creating a new practice that tends to give value to "credits for verifying transactions".