Quote from: SamReomo on April 30, 2024, 08:41:05 PM

Quote from: JamesNZ on April 30, 2024, 08:30:21 AM

On the other hand, if you traded dollars for Bitcoin you are the slave because you need other people to invest and buy your Bitcoin otherwise you cannot get your dollars back.

You truly need some type of treatment because whatever you're saying is totally inaccurate. If you trade dollars for Bitcoin then you can trade that Bitcoin back to dollars without waiting for someone else to buy it from you.

You should learn about crypto-currency exchanges, on those exchanges there are 100's of thousands of orders that get filled within seconds. If you really want to trade your dollars for Bitcoin and then you Bitcoin for dollars, you can do that without any issues.

If another greater fool, another speculator decides not to buy your Bitcoin, game over. You cannot get yor investment back. Just like in Ponzi schemes. You are the slave of people's will to join the scheme. They must voluntary decide to buy your BTC units. With dollars however you are the master. Via collaterals, the banking system forces debtors to trade labour, services or goods with you. They cannot just voluntary decide not to trade them. This would lead to foreclosures. In foreclosure auctions you're the masters again. The banks are liable to sell foreclosured property to dollar holders in order to liquidate the unpaid loans. They issued dollars, and thus they must take them back. It's their liability clearly recorded in their accounting books. So, with dollars I am the master and the banks work for me. They ensure that I get labour, goods or services for my dollars.