Quote from: m2017 on Today at 10:02:47 AM

Quote from: Snowshow on Today at 09:25:11 AM

Bitcoin is a scam in which you must invest something real, and then wait for new buyers or investors to save you from that scam.

Doesn't the same thing happen in the stock market? Those who bought N-company shares for $1 are waiting for the opportunity to sell for $100-1000 to new investors. You don't call it a scam. Why? Just because the system that exists in the stock market has long been formed? And between what is there, what is here, systematically, the same thing happens, if we consider investing.

Quote from: Snowshow on March 15, 2022, 02:12:39 PM

No assets, no money. Nothing tangible nor intangible. Nothing physical nor digital. Instead, people are just paying for numbers to be changed next to their addresses. In economics, a transaction is an instance of buying or selling something. A payment is an instance of transferring a thing that was bought or sold. In the Satoshi's system nothing is bought or sold. Nothing is transferred. Only numbers are changed next to the addresses. So, Bitcoin doesn't exist and the Satoshi's system is not actually a payment system, but a system for changing, storing and protecting numbers.

The same thing happens in the traditional banking system. When using an electronic money transfer, nothing is transmitted from the sender to the recipient, only information in the form of 1 and 0. Nothing is physically transferred. Or when buying in cash, a piece of paper is physically transferred. What is the value of a piece of paper? Why is this piece of paper better than a piece of toilet paper roll? Yes, nothing. The only difference is the faith people put into the paper printed by the central banks.

Question for Snowshow. If you think bitcoin is a scam, then what don't you consider a scam? Traditional banking system?

Traditional banking system contains debt. From debt people benefit when debt is paid. The bank grants loans to borrowers, loans are used to get people's goods, services and labor, and then the borrowers return those to people to be able to get money for loan requirements. So, in the traditional banking system people benefit within the system. Meaning, borrowers which are part of the system provide them goods, services and labor.

In the system that contain equity/capital (stocks) people benefit because capital produces goods and services, or on their own this capital can be used to satisfy human needs. So here as well, people are able to benefit within the system.

However, in the case of bitcoin system no one is able to benefit from within that system, and, the same as members of all investment frauds, they must exist the system to be able to benefit. They need new buyers or investors, who will give them access (banknotes/bank deposits/stocks) to traditional banking system or equity system where they can benefit.