Given that units in the Bitcoin system are not created as debt, they are empty. They are containers that hold nothing. Often, people say that Bitcoin is simple and thus better than a complex banking system that manages fiat currencies. But of course Bitcoin is simple given that it manages empty units. Fiat currency units hold debt and managing debt is complex. It includes contracts, credit assessments, collaterals, foreclosures, etc. And this requires resources, both material and human. With Bitcoin, a guy just wrote a protocol that tells people: "You have 10 BTC units", "you have 0.5 BTC units", "you have 50 BTC units", etc. But units of what? Units of a company ownership? No. Units of something tangible like a precious metal? No. Units of something intangible like patents, copyrights or software licences? No. In the Bitcoin system people buy and hold units of literally nothing. Units that are empty. That is why it is so simple. Managing empty units is simple. But extremely dumb. Just like it would be managing empty envelopes and boxes in our hypothetical crypto-post. With Bitcoin, such managing even requires the consumption of enormous amounts of electricity.

That's why Bitcoin is the dumbest thing ever invented.