Post
Topic
Board Bitcoin Discussion
Re: The Great Bitcoin Secret Revealed
by
Snowshow
on 23/03/2022, 14:02:44 UTC
Bitcoin blockchain is the same as banks vault or database. When you want to spend your Bitcoins, the system check from the database/vault/blockchain if you own enough for that transaction and as you do, you are able to make the transaction. Same thing when you transfer euros in digital form from your bank account to my bank account, transaction just gets written in the database. Nothing else needs to move. Just database gets written. Same thing happens with Bitcoin. New amounts of yours and mine just gets written into the blockchain.

The euros and dollars are not tied to gold anymore so there is nothing valuable what the bank owns you. Only digital bits or some paper representing those same digital bits but in paper. That paper and digital bits are worthless. UNLESS they are written in some database / blockchain which people DO appreciate as a currency.

So, it does not matter if it is digital euros, paper money or bitcoin. It has a value if we the people value it as a currency. If we don't value it as a currency, then it is worthless.

You do not value bitcoin so it is worthless to you. Hundred million people, companies, stock exchanges and ETFs etc do value bitcoin as a currency. And you can't make us decide otherway even if you tried for 100 years. Because in our more educated opinion than yours, the Bitcoin is better currency than euros or dollars. You saying you don't believe it does not matter to anyone.
I am not interested in your philosophy about Satoshi's numbers. You said these numbers are redeemable. Now, back up your claim. Who has the written liability to redeem that numbers and what's the maturity?