Re: How Satoshi Nakamoto Fooled the World

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

Quote from: Snowshow on July 07, 2022, 08:59:40 AM

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

Quote from: Snowshow on July 07, 2022, 08:59:40 AM

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

That's one of your problems. Narrow mind and vision. Bitcoin is not just a number. It's way more than that. And the 21 millions are 21 millions. It doesn't matter if there are more numbers.
Once more, define scarce. When you say scarce you have to compare two things. You're not doing such!
Nobody put nothing in anything, that's just your useless opinion. Once more, 0 facts! But keep going, you're giving me sats!

After purchasing bitcoins you have number. Nothing else. No resource to utilize. Just number next to your address. Every idiot can create a scheme that attributes numbers to people's addresses. There's no scarcity in this. You people are literally buying numbers that you can create by yourself for free. Such stupidity was never witnessed in human history.

After I buy Bitcoins, I have the best asset in the world. That's it, no matter how mad you are with it. You're just jeaslous that you probably haven't onbaorded and you're soared as fuck! Well, HFSP. I can exchange my Bitcoins for many things that I assign value to, so, Bitcoin is doing exactly the same thing you say the shiat money is doing! You just don't want to admit!

After you buy bitcoin, you have number next to your address. Nothing else. That's reality. Everything else is your imagination.

Clockwork again.
After I have purchased Bitcoin, I have that number next to my address, no one can really take it away from me by any means, and further more, I can send it to you in exchange for some service or good from you and there you have, I just used my Bitcoin to purchase a resource with value!
The imagination is in your head, not in our heads. And it's not only imagination. It seems a mix of jealousy, lack of synapses and a brainwash from your governments, politicians, etc, over the years!