Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: How Satoshi Nakamoto Fooled the World
by
tadamichi
on 08/07/2022, 11:53:31 UTC
⭐ Merited by JayJuanGee (1)
You responded to nothing. Let me help you.
What is mindblowing to me is that you have the audacity to say this to the person who still treated you fair and responded constructively, even after the all the bs you produced.

I am talking about the fact that bitcoin is just a number
Not every number is a Bitcoin, just writing 1 on a piece of paper wont grant you access to the private key necessary to an address with 1 Bitcoin on it. But Bitcoin isnt just a number its a full peer to peer electronic cash system. We already understood that you prefer to account in cows(with the fetish of barter you keep expressing), but you can even break this down to numbers, by counting how many cows(resources) you have. Numbers are simply the most efficient way to account for something, so Bitcoin uses numbers as a unit of account, it would be a problem if it didnt.

In order to respond properly to the above, you have to show that people are able to utilize bitcoins without dumping them to someone else.
People already did, its proven in reality. You dont have the authority to decide what counts as utilisation and what not, in the first place. If i sign a cryptographic message on the most uncensorable network, its utilisation. If i send or recieve Bitcoin, without selling/ buying them, its utilisation. If i store messages on a public ledger, like satoshi did on Block 0, its utilisation. If theres ways to use Bitcoin as a base protocol to provide security/ enable different networks, its utilisation. We are just at the tip of the iceberg, this is an innovation in computer science with many more applications in the future possibly.

which is why everyone must dump that numeric label to someone else
Its like you found out what a market is, then had to think of a way to turn it/ rephrase into something negative and then refuse to apply this logic to anything outside of Bitcoin. Your whole talk is to take something and then find ways to make it seem like a problem, when in reality you are the problem, and other people are happy to use the systems we have now and value the work other people did for them.

Gold can be utilized as a metal for various purposes.
We know, but how many times did you actually yourself? And how many times does the regular person do it? An individual probably used Bitcoin more for non monetary purposes, than previous forms of money like gold or fiat.

Debt (recorded with fiat money) is utilized at loan repayments as explained in OP.
Bitcoin is used for this purpose too, there is even a whole loan marketplace in Bitcoin on this forum.

Shares in companies are utilized through access to profits or equity of the companies.
Its simply acquiring a fraction of a company, theres no guarantee of profit or anything. You can only buy them on a regulated market as a regular person, when a company is public. Companies dump and buy shares on the market themselves, they actually do what youre assuming about Bitcoin to their own investors, dont make a religion out of economics and assume everyone else is a selfless value providing angel.

You must show that people are able to utilize bitcoin. Also, a guy with 10 bitcoins in comparison to a guy with  0.1 bitcoin, must be able to get 100 times more utility if bitcoin is able to be utilized.
We did and again its not something negative that Bitcoin provides utility to everyone, even if they have less of it. This is something positive and not something negative.

And then to your ridiculous requirement. A person with 10 Bitcoin could also split their Bitcoin into more different addresses, than a person with 0.1 Bitcoin. So they could sign more messages on different Bitcoin addresses, for whatever purpose this serves, but its more utilisation. They can also make more transactions before running out of Bitcoin, than a person with less Bitcoin, so again they can utilise it more. With more Bitcoin they can also open more/ higher funded channels on different networks like lightning, which actually influences how many transactions they can route on this other network, because they provided higher liquidity, giving them more income from routing in the other network.

Theres many examples of how a person with more Bitcoin gets 100 times more utility out of it, without having ever touched a Bitcoin/Fiat market.

Your whole existence here in the last months was gaining primary school level knowledge about something and the thinking on how to rephrase it into something negative. Are you a journalist? (No attack against journalists who still do their job)