Post
Topic
Board Bitcoin Discussion
Merits 2 from 2 users
Re: How Satoshi Nakamoto Fooled the World
by
arcmetal
on 17/07/2022, 08:48:36 UTC
⭐ Merited by tadamichi (1) ,JayJuanGee (1)
...

Sure, paper stickers can be money because paper is a resource. Although the utility of such resource is small, in theory you can at least compare its degree of utility to the degrees of utility of other resources. But in the Nakamoto scheme, you cannot even show stickers or tokens, neither digital nor paper ones.. All you can show is a number in your wallet that represent the amount of digital tokens. Giving up the actual, valuable resources just because a system of an anonymous person will tell you that you hold a specific amount of tokens that you cannot even show, is the stupidest thing humans ever invented. Putting money in this stupidity because you hope you'll make some money is one thing. But trying to defend it, by writing endless rants about freedom, revolution, new money, etc. is the stupidity of a high order. I mean, just taking a small look on what some guys here are writing and you don't know whether to laugh or to cry.
I see what you mean here, I see what you are trying to figure out.

You think some "resource" needs to be transferred, but you want this "resource" to be made of some atoms.  Or, at least that's what I think you meant.

There are material resources: computers, their wiring, the electricity that make them run are made of atoms, electrons, and charges that flow through the wires. These material resource help computers, the internet, bitcoin to function in a timely manner, but they aren't necessary for the internet or bitcoin to function.  What you are missing, and can't seem to understand is that the "resource" incorporated in a bitcoin transaction is actually "informational".  It is wrapped up in its cryptography, in the mathematics that allow it work.

There is value in understanding the following knowledge:  1+1=2.   If you can't understand why that type of knowledge is valuable, then you will never understand why exchanging bitcoins for products across the globe can have value.