Post
Topic
Board Bitcoin Discussion
Re: The Universal Scam Test - Let's Apply it to Bitcoin
by
Snowshow
on 20/06/2022, 05:49:40 UTC
Value of X is how people are able benefit from X without selling the X to new investors.
This definition is wrong tho and wouldn’t be accepted anywhere. You can use it for yourself it’s fine, but in a debate it’s ridiculous. If you’re so sure about it, then go ahead and write an academic paper about it and see it being eaten alive by peer review.
You cannot refute a definition by fantasizing that someone would not accept it. That's just presenting how powerless you are in a discussion.

And you're powerless because I am right. Bitcoin is not an economic resource and no human being can benefit from it. Products with intrinsic value for e.g. are  economic resources because humans can consume that intrinsic value to satisfy their needs. Debt behind fiat money is an economic resource because people benefit when that debt is paid, as I have explained in the OP. Capital is an economic resources because in itself it is intrinsic value or it can be used to create products with intrinsic value. Intrinsic value is, as said before, used to satisfy human needs and in that way to benefits people.

There's nothing to consume after you buy bitcoin.  Also, you own no debt or capital after the purchase. Everyone who has ever bought bitcoins essentially bought the units in a scheme that has zero economic resources. That's why people must dump their worthless units to someone else and save themselves from the scheme. That's how ponzi schemes operate. The bitcoin system is a ponzi scheme falsely publicly advertised as payment system. And bitcoin is a unit in that ponzi scheme falsely advertised as money. Money is an economic resource, and not a unit in a scheme where people need resources of new investors to be able to benefit. The false advertising is how new victims are lured into the scheme. You're one of the victims of false advertising and you're using the same advertising to save yourself from the scam or to exist the scam with as much profit as possible.