Quote from: JamesNZ on May 18, 2024, 11:28:49 AM

Quote from: CageMabok on May 18, 2024, 09:49:21 AM

Quote from: JamesNZ on May 18, 2024, 03:59:17 AM

Hahaha, this is crazy. So, you order and pay for an iPhone from Amazon, but receive an empty package. When you complain the sender replies that the package is not actually empty. Your payment act "assigned" iPhone to it. They also tell you that you should go and learn how crypto-delivery service works. Hahaha. I think you should seek professional help for mental health.

That's not crazy, but rather funny because I myself have never made a comparison between physical assets and crypto assets, nor the way of sending physical objects or goods with sending assets in crypto. Because these two things are definitely different, although sometimes there are people who make examples of physical goods when they want to give a few examples to people who are learning about crypto. So the funny thing is when someone makes a comparison between digital transactions and goods transactions that have a physical element.

You don't get it do you? When you just say "asset" you're saying nothing. Asset is generic term. You must name what actual resource is held by a unit. For instance: unit of gold, unit of debt(fiat money), unit of a company (share), units of oil, wheat, etc. If I were to ask you: "unit of WHAT is BTC", you wouldn't be able to provide an answer because BTC is an empty unit. It's literally like taking a piece of paper and write down that: "Alice owns 5 units of ABC". Then I ask: what exactly is ABC, and you say "an asset" or "a commodity", or money. You're forced to use generic terms because ABC is mere declaration. No actual asset, commodity or money exists under the name ABC. The number 5 represents empty units. Units that hold nothing. That's Bitcoin in a nutshell. It's basically like play money for kids, or monopoly money. You have monetary units that are exchanged for playing purposes but they are empty. They hold no resource or asset.

There is no point in having this long argument. Bitcoin is an asset because it was given value to it. Although it is not a physical asset because it cannot be measured. Yet, it doesn't mean that is not a good asset since it is not physical. I do understand that many people only refer something to be an asset and worth invested in if its value can be measured physically. But let me clear the air here. The gold, land and other precious stone, where considered because we feel they are unique from the regular stone on earth, we gave them high value and that is why they worth much that is the same thing that goes with digital currencies like Bitcoin. Bitcoin gained value because it is a different form of monetary system that provide the same value as the physical money and even more. Just like Gold the supply its limited which is why having a fraction of it would give you a hope of big profits in the future.