Post
Topic
Board Bitcoin Discussion
Re: The Bitcoin Paradox - a Simple Online Scam Honored as Deity
by
Snowshow
on 16/05/2022, 13:29:34 UTC
No asset exists in the Satoshi's system, just the records for creating the illusion of asset.
But, it is nowhere stated that the ledger shows things that exist, that's you, who's benightedly and conservatively concluded it. There's nothing behind the number, it's just the number, but due to consensus and Proof-of-Work, that very number comes with benefits.

Equity and debt are not promises but assets.
They're not promises as is with credit, I might have formulated improperly, but a paper saying that I own something doesn't mean that I definitely own that something. Anyway, we've long gone off-topic, and I'm bored with your idiotic reasoning. Bye.
You're lying, again. It is stated in the Bitcoin Whitepaper that the system produces coins or cash or money. Money is an asset. An asset is a resource that benefits people. However, no holder in the bitcoin system can benefit within the system.  Literally all of them need the resources from new investors to benefit. Further, how can they benefit from the Proof-of-Work that you're referring to? Again, they cannot. The whole system is a fraud that attributes the units of the imagined number (21 million) to people's addresses, and then lie to these people that they own an asset in the quantity of attributed units.