Post
Topic
Board Bitcoin Discussion
Re: Why is Bitcoin the Dumbest Thing Ever Invented
by
Iranus
on 21/06/2024, 04:18:22 UTC

Because it seems none of you actually understand Bitcoin. You just repeat narratives about Bitcoin and at the same time ignore what Bitcoin actually is - a database with data on nothing. A database that stimulates real databases. Real databases contain data on some aspect of reality - for example on the number of actual things or about events that occurred. On the other hand, what is put into the Bitcoin database are units of the number 21 million that an anonymous guy created in their imagination. And then people create narratives trying to come up with a thing held by these units. A thing that doesn't exist in reality. It is both comical and tragic to listen to those narratives.

to an extent what you say is true. bitcoin only has value because everyone agrees it has value. or enough people agree. unlike something like gold that has intrinsic value because it has physical uses.

The value of any asset is determined by supply and demand. If one day the demand for gold no longer exists, do you think it will still be valuable? Also, you're claiming gold has uses because it's made into jewelry and used in certain industries...and bitcoin isn't? So the fact that we use bitcoin as a payment method, a store of value...that's not a use case or uses, what do you call that? Because bitcoin cannot be touched with hands nor can it be used for jewelry like gold, it is considered useless and has no use case. Is that true in a world gradually digitizing everything we live in?