Post
Topic
Board Bitcoin Discussion
Re: Why is Bitcoin the Dumbest Thing Ever Invented
by
tottong
on 27/05/2024, 08:25:23 UTC
Given that units in the Bitcoin system are not created by issuing loans or purchasing bonds, they don't hold a debt-based asset. They neither hold some tangible asset like a precious metal or food nor some intangible asset like a patent, copyright, or license. Also, they don't hold capital of some company, like shares. Simply put, in the Bitcoin system, people have empty units, units that hold no asset. Consequently, there's nothing to assign value to.

In the last line you mention that bitcoin has no value, but you forget that the value of bitcoin is determined by the supply and demand process.
Your perspective is a little confused because you actually don't understand the concept of bitcoin and I suggest that you read it again so that you have good knowledge.
You are just trying to logicalize assumptions in your own analysis and that is a mistake you are making because bitcoin actually had value even when it was created.

If you can describe people's behavior then we can easily recognize human nature. Likewise, with bitcoin, even though it has no form, it has a value that continues to be traded at any time by anyone.