Quote from: BlackHatCoiner on Today at 10:06:28 AM

Quote from: Snowshow on May 14, 2022, 04:48:49 AM

Point of your statement is therefore what?

That debt is created using no resources; banknotes have no intrinsic value, they're exactly like bitcoin. They're created out of thin air, they can't be used for anything beyond transactions. It's just that their usage is being forced.

You say that debt is evidenced with deposits of those banknotes, I tell you that you can also create debt with bitcoin, if that's your only problem. We have a whole Lending sub-board. There are people who borrow coins with collateral, check it out.

Every record of an asset is intrinsically worthless and created out of thin air. "100 TSLA" is intrinsically worthless. "100 USD" is intrinsically worthless. "100 BTC" is intrinsically worthless. But, in the first two instances this is the record of assets, which is intrinsically valuable. In the last instance this is the record of nothing that exists with the purpose to trick people into believing that an actual asset exists behind the record. Which is a fraud. You can keep with your sophistry, but nothing will change in that regard.