Quote from: cryptodevil on June 10, 2024, 01:53:54 PM

Quote from: JamesNZ on June 10, 2024, 05:26:14 AM

You can repeat the nonsense that money is representation of work done, but reality won't change. In reality, neither work is required to create Bitcoin, nor money is representation of work done.

Is it perhaps the conditioning children receive to believe that being wrong is a bad thing which is responsible for your inabilty to consider that your understanding of the topic is erroneous?

Let me break it down into the simplest terms I can:

The 'token' we use to represent money is currency. But we absolutely do not need to have a 'thing' at all. We could simply keep a record of debits and credits in a central database, agreed?

Money evolved out of the very first debit and credit ledgers we created and it was simply recorded as a number in a ledger. So if you as the farmer dropped off your grain at the local temple you would be assigned a certain number of credits for it and some of those credits would then be deducted against the debits you had previously run up earlier in the year when needing to buy your farming supplies etc. So you, like every other farmer and producer of goods for the community's economy would all have your debits and credits recorded in thie ledger.

If you were to look at a page of that ledger you would only see numbers being assigned to names as a result of whatever basis they had warranted a credit for. So you'd have no idea whether one unit was for grain, or grapes, or timber, as this wasn't necessary to know.

Do you know why it wasn't necessary to know? Because each unit recorded represented only one thing. The value introduced into the economic system as a result of time and energy expended creating it. Work.

That we then decided to create a token system which would then allow people to hold their own representation of that monetary unit, and then buy goods and services from other people who would accept it in exchange, is what saw the creation of a currency unit representing that monetary unit previously recorded in the ledger.

That is the difference between money and currency. Currency is just the token 'thing' we created to be able to move those written monetary unit records from the central ledger into the hands of the people so they could trade freely without it having to go through the central record for every transaction.

Stop making your own definitions of words because you look funny. First you defined money as work. Now you define it as a number. Money is not a number. A number is mathematical object used to count, measure, and label thing - 10 cows, 5 ounces of gold, 100 units of debt(dollars). Cows, gold or debt are the things you're counting or measuring. Just puting numbers on a paper or electronic medium doesn't mean creating money.

Further, currency is not "token we use to represent money", but simply ... "money that is used in a particular country at a particular time". And again, money is a concrete thing (cow, gold, debt). That brings us to the fact that there's no concrete thing in the Bitcoin system. There's nothing to be counted or debited/credited. People simply spend electricity on random trial and error of finding a number. When they find it the protocol calculates how many units of nothing they have and shows them that on the screen.

Besides making your your own, funny definitions, your main problem is that you don't understand Bitcoin. You've heard about Bitcoin from stories, such as the one called "The Bitcoin white paper". You've heard about som coins that exists in the system, about e-money. But you didn't actually check whether these stories are true. You just blindly believe them. I am here to educate you about what Bitcoin actually is. I am here to help you understand Bitcoin and all of its stupidity.