Quote from: amishmanish on Today at 03:31:17 PM

Quote from: NeuroticFish on May 10, 2022, 12:39:03 PM

Quote from: Snowshow on May 10, 2022, 12:24:36 PM

Fiat is debt that gets paid with every loan repayment. Banknotes and deposis are just the evidence of that debt. In the past you got gold for fiat. Today you get borrower's goods, services or labour. Debt is an asset.

Bitcoin is just another manifestation of the same debt.
In the past people have been using shells, or silver, or gold for the same job. Why can't we use Bitcoin? Because it's... digital? Or maybe because the governments cannot alter the value at will with inflation?
Even now, banks and governments use gold for the job. Why don't they just keep <only> the printed paper if it's so wonderful?

Quote from: Snowshow on May 10, 2022, 12:24:36 PM

Bitcoin is a name that creates the illusion of asset. And thus, a scam. Those who are in the system are deceiving people by claiming they own asset or money while only name and numbers attributed to their addresses exist. That's why one can benefit only if new investors enter the system. Hence, classical investment scam.

Sour grapes much?

I completely agree with your view, in fact the governments themselves don't want bitcoin economy as they know that hyper bitcoinization will take away their powers to manipulate the currency value at will. Fiat holds no value in ittself. it is the value ascribed to it against debts. like gold which gives it it s value

"Bitcoin economy" is an oxymoron.

"The economy is the total of all activities related to the production, sale, distribution, exchange, and consumption of limited resources by a group of people living and operating within it."

In the bitcoin system no resources exist. Only units of an imagined number (21 million) are attributed to the addresses, and those attributions are stored with an enormous cost of energy. In the fiat monetary system debt is produced and exchanged. Debt is a limited resource because it is based on limited number of collaterals. Comparing the bitcoin scam with fiat system is like comparing Monopoly game with real economy.