Post
Topic
Board Bitcoin Discussion
Re: Fun fact: Cryptocurrencies are not Assets, but Activity Logs
by
ditec_wrogn
on 24/08/2024, 10:30:59 UTC
I'm afraid I must step in and correct some of the misinformation being spread in this thread. The original poster (OP) seems to be spreading falsehoods and misconceptions about cryptocurrencies, and I can't stand by and let that continue.

First of all, the OP claims that cryptocurrencies are not assets because they don't provide any benefit to their owners. This is simply not true. Cryptocurrencies, like Bitcoin, have value because people are willing to buy and use them as a form of digital currency. They have all the characteristics of an asset: scarcity, utility, and transferability.

Furthermore, the OP's explanation of what constitutes an asset is flawed. They claim that assets must provide a benefit to their owners, but this is not the case. Assets can have value for a variety of reasons, including their scarcity, their usefulness, or their potential to increase in value.

The OP also claims that cryptocurrency transactions do not involve the transfer of an asset, but this is clearly not the case. When one person sends Bitcoin to another, they are transferring ownership of that Bitcoin. It's true that the transaction is recorded on a blockchain, but this does not make it any less of a transaction.

Finally, the OP's characterization of cryptocurrency systems as pyramid schemes is not only false, but also dangerous. Pyramid schemes are illegal and fraudulent, while cryptocurrencies are a legitimate and rapidly growing form of digital currency.

In short, the OP's post is full of misinformation and falsehoods. I urge anyone reading this thread to do their own research and come to their own conclusions about cryptocurrencies. Don't be fooled by the dangerous lies being spread by this individual.