Post
Topic
Board Bitcoin Discussion
Re: The Bitcoin Paradox - a Simple Online Scam Honored as Deity
by
DooMAD
on 18/05/2022, 07:23:09 UTC
Ultimately, in all schemes where no resources exist and the investors are able to benefit only through resources contributed from new investors, the victims are those who stay the longest in the scheme. That is by definition. The so called bitcoin holders, own no resources in the scheme, from which they could benefit within the scheme.

I still benefit from censorship resistant transactions if no new participants join.
I still benefit from psudonymous levels of privacy if no new participants join.
I still benefit from the strength and security of the network if no new participants join.

Because the network itself is a tangible resource.  Real people running software on real devices.  Ensuring that every single transaction in every last block conforms to the rules of the protocol.  All of that infrastructure exists.  And you need bitcoin (the currency/asset) to benefit from Bitcoin (the network).  The value is real and it's only the willfully ignorant who are unable to see it.