Quote from: Snowshow on Today at 05:58:28 PM

Quote from: tadamichi on Today at 12:56:28 PM

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

EDIT: I started this topic by claiming that Bitcoin is a message similar to SMS, email, etc. But, through the discussion here I realized that this is misleading. Because, Bitcoin is actually not real. It doesn't exist. It doesn't exist like Greek gods don't exist. The reason is simple: whoever enters the Satoshi's system recieves no coins, no bit-coins. 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.

Satoshi Nacamoto, is probably someone who lacks education or knowledge in finance and economics. For that reason, he wrote a paper in which he falsely assumed that changing numbers is equivalent of performing transactions or payments. Then, people took his paper at face value. They took it without actually questioning or doubting what was written. This lead to the creation of a religious like belief that revolutionary coin came to Earth to free us from corporations and governments. Given that we live in the age of internet, the believe was quickly spread throughout the world. As a consequence, people across the globe now believe that they are buying something very precious and scarce. And that the blockchain is an important place where that precious and scarce thing is kept. While in reality, only numbers attached to the addresses exist. There's no scarcity, but arbitrarily predefined maximum sum of numbers next to the addresses. And the blockchain is nothing important but just a giant database where numeric changes are stored. So a revolutionary digital coin called Bitcoin is not something that is real. It's simply, a myth.

Here's a more detailed explanation: https://youtu.be/jcraRM6vblQ

Cringe.
Hate to break it to you, but the banking system just uses imaginary numbers too. If a bank run starts tomorrow the whole system will collapse, because of fractional reserves. So is the banking system just a myth now, because the numbers they display dont reflect real world reserves? Nah. We as a society choose how we design our monetary system and Bitcoin tries to achieve this in a decentralized way, because the centralized approach gets abused and abused again. So people buy into Bitcoin to get out of the old system, they dont want a small group of people to control the monetary system. Its really that simple. All the design aspects of Bitcoin are to minimize human influence over it, because like ur post shows, many humans arent the brightest, so its better if no one of us can control it. Bitcoin is a real protocol that exists in the real world. We as people will determine its value, if you think its worthless then dont get it. But millions of people around the world already came to the consensus, that this form of money is more valuable to them, than some bankers toy. And more and more people will come to this conclusion when they see what the previous system will do to them in due time, then even you will realize what value it has, to have decentralized system ready, that is open to everyone. And the myth will probably save your ass. So keep spreading bs, and in the meantime we are here to build a system, that will even save a clowns ass.

All systems use numbers to express the quantity of shares in a system that someone bought. But in the bitcoin system these shares are worthless because their holders are unable to return their investments from the system that issued them.

If you wanna get out of Bitcoin, you can sell them at any exchange, trade them for goods or services or sell them directly to people who wanna buy it(and there’s a lot). So it’s not different than with any other asset. But with every other asset it actually requires trust to redeem ur investment, if the government freezes ur accounts tomorrow, there’s no redeeming of anything. With Bitcoin you can actually hold ur own private keys and be in full control over it + it’s a worldwide payment network( so ur chance of redeeming anything would be way higher). In the best case you don’t buy Bitcoin to sell them tho, because they have been a way better store of value than any other asset in the last 10 years. And it’s not a technology that will make you money forever by just holding it, in the case Bitcoin becomes the new world currency you won’t gain anything by just holding it anymore, because 1 Bitcoin = 1 Bitcoin, it won’t just magically increase. So buying Bitcoin is about fixing the money and not about gaining Fiat. And to your point, Bitcoin issues new Bitcoin till 21 million are mined, it doesn’t issue Bitcoin in exchange for money. So you can’t redeem something that was never given to the system. When you buy Bitcoin now, it’s actually other parties selling it to you. If you actually wanna do something for your future, you should study this topic more carefully, instead of being skeptical and scared because of your own biases.