Quote from: ditec_wrogn on Today at 10:30:59 AM

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 fact, I would go so far as to say that the OP's actions are borderline criminal.

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.

When you "buy" Bitcoin, what you have actually bought is the ability to update the log. There are no assets involved here. And it is assets that have value or possess features like scarcity, utility, and transferability.

Further, an "asset" is defined as a resource that provides benefit. There’s nothing flawed about this definition.

When one person sends Bitcoin to another, they are merely transferring the ability to change the numbers associated with digital addresses—nothing more. There are no assets involved here. No transactions with an asset are actually taking place; only the log is being updated.

Finally, cryptocurrency systems are not pyramid schemes. They are decentralized logs that track the operations of pyramid schemes. A pyramid scheme occurs when you give an asset to someone without receiving another asset in return. You then hope that, in the future, someone else will join so you can get some asset back.

P.S. Your accusation of me spreading dangerous lies was pretty hilarious given that you're the one who does that.