Post
Topic
Board Bitcoin Discussion
Re: The Universal Scam Test - Let's Apply it to Bitcoin
by
franky1
on 05/06/2022, 17:28:11 UTC
funny thing is..
"snowshow" has said the exact same silly argument about 4 times now on 4 different accounts. and each time people like Doomad dont realise its the same person as he was arguing with before.

oh well.

lets just conclude the argument
1. fiat test. people holding bank notes do not gain anything from holding bank notes. no interest.. infact the longer they hold bank notes the less value you have.
yep inflation.. kills value of bank notes slowly

bitcoin however gains value slowly(deflations) so without selling it. you are storing more potential value for later... test pass for bitcoin

it also has many uses without selling it.
i personally programmed a security mechanism to only unlock a door when i send myself some coin(not sell just move coin between addresses i own) (IoT project)
and just like a house that does nothing but sit on land. i can prove ownership of my value and watch it appreciate in value, (unlike a bank note)
also just like a house, without selling it i could use it as collateral to get a loan. still in my possession but used to validate getting a loan.

you would be very surprised the amount of things you can do with a btc transaction without ever having to sell the coin. (transaction confirmation to another address you own+IoT projects, research it)