[VIDEO]: Bitcoin Exists Only in Satoshi's Imagination

[Pmalek]

Watch the video again.

Sorry, I wasn't paying attention to the video. I was too busy withdrawing my imaginary bitcoin clown money from an online bookmaker. The fact is I made a nice little profit betting on a basketball match yesterday with 2.60 odds. Luckily the mempool is empty so the imaginary withdrawal fees are almost non-existent. I need a new monitor because the old one is acting up. I will use my winnings to buy one from a local tech store that happens to accept Satoshi's daydream coins.

Good day to you sir!   

[electronicash]

It is a fact  that yor address has electronic entry in the form of a number. Number that quantifies/represents the amount of bitcoins.

That's an assumption. The address just represents units of debt. If two people agree that they can debt each other using this system, then they have every right to do so. Just like how dollars represent debt, Bitcoin does too. It has no difference, other than the force of the dollar usage.

If you believe that Bitcoin is an imaginary thing, then you should do this for the dollar too. Although, I believe that the word “imaginary” is subjective. I'd rather call it “intangible”.

You  people  are full of imagination. Bitcoin does not represent debt like dollar. There are no debtors, creditors, loan contracts, or collaterals. Bitcoin is imaginary. In your wallet you hold a number that quantifies imaginary bitcoins. That's all. Watch the video again.

you should know that fiat is not backed by anything in comparison to BTC. if the government declares it no valuable anymore, then it's zero. but who would declare BTC to be of no value? to answer that NO ONE.

Bitcoin is created through a mathematical equation in which miners have to spend energy this at least is hard work not by just printing. the intrinsic value goes up because it's the network of users who ask/bid.

[YOSHIE]

Bitcoin of course being the imaginary thing.

people who are anti or not happy with Bitcoin, they can make youtube as much as they like for the sake of 'youtube' content in Imaginary form or something else, actually Bitcoin has been running for 13 years, they weren't happy before Satoshi was found.

I ask you as long as you know crypto or Bitcoin whether Bitcoin as an adjective (Imaginary), the answer lies in yourself...don't watch too much youtube that leads to the discussion of the Imaginary, it can worsen your life in assessing Bitcoin.

Indeed Bitcoin is 'Imaginary' but you receive banknotes after exchanging Bitcoins and making money, in 'proven' form.

[BlackHatCoiner]

Essentially, you've just found another way to rephrase the tired old cliché that Bitcoin supposedly isn't backed by anything.

I don't think that this has anything to do with the existence of Bitcoin. It is indeed, like gold, not backed by anything.

You  people  are full of imagination. Bitcoin does not represent debt like dollar. There are no debtors, creditors, loan contracts, or collaterals. Bitcoin is imaginary. In your wallet you hold a number that quantifies imaginary bitcoins. That's all. Watch the video again.

You're closed minded. In our wallet, we hold private keys which can be used to sign transactions. There's no reason to think that the number of an output quantifies anything. It's just a balance that increases and decreases based on the transactions you sign. If we all agree that we could debt each other using that number, why should you try to stop it?

I'm still waiting a valid answer to this:

You should picture it in another way. Imagine a 3D printer printing tangible items called “bitcoins” every 10 minutes and whoever was near the machine could earn them. If some people (bitcoins' owners) started using these coins as a medium of exchange, you'd say that they do exist. What exactly would it change if instead of tangible items, we had a public ledger showing who owns what and that we knew that this ledger can't be censored or erased by anyone's will. It'd not make bitcoins non-existing, but rather intangible. And that's because that ledger wouldn't show an IOU, but a strong proof that you don't owe me anything. You paid me.

[Antithesis]

Watch the video again.

Sorry, I wasn't paying attention to the video. I was too busy withdrawing my imaginary bitcoin clown money from an online bookmaker. The fact is I made a nice little profit betting on a basketball match yesterday with 2.60 odds. Luckily the mempool is empty so the imaginary withdrawal fees are almost non-existent. I need a new monitor because the old one is acting up. I will use my winnings to buy one from a local tech store that happens to accept Satoshi's daydream coins.

Good day to you sir!   

It's not about whether you can profit. All schemes are profitable for some people. It's about whether the thing that lures people to invest in the scheme is real or imaginary.

[Antithesis]

It is a fact  that yor address has electronic entry in the form of a number. Number that quantifies/represents the amount of bitcoins.

That's an assumption. The address just represents units of debt. If two people agree that they can debt each other using this system, then they have every right to do so. Just like how dollars represent debt, Bitcoin does too. It has no difference, other than the force of the dollar usage.

If you believe that Bitcoin is an imaginary thing, then you should do this for the dollar too. Although, I believe that the word “imaginary” is subjective. I'd rather call it “intangible”.

You  people  are full of imagination. Bitcoin does not represent debt like dollar. There are no debtors, creditors, loan contracts, or collaterals. Bitcoin is imaginary. In your wallet you hold a number that quantifies imaginary bitcoins. That's all. Watch the video again.

you should know that fiat is not backed by anything in comparison to BTC. if the government declares it no valuable anymore, then it's zero. but who would declare BTC to be of no value? to answer that NO ONE.

Bitcoin is created through a mathematical equation in which miners have to spend energy this at least is hard work not by just printing. the intrinsic value goes up because it's the network of users who ask/bid.

Fiat is debt, and debt is backed by loan contracts, collaterals and the equity of the banks. Please, educate yourself.

Regarding bitcoin. It is not bitcoin what is created through a mathematical equation, but a number. A number
that quantifies imaginary bitcoins. And this number is created out of thin air. Regardless of the fact that the algorithm makes the miners to show the POW, that number is still a number. And all numbers come out of thin air.

[Antithesis]

Bitcoin of course being the imaginary thing.

people who are anti or not happy with Bitcoin, they can make youtube as much as they like for the sake of 'youtube' content in Imaginary form or something else, actually Bitcoin has been running for 13 years, they weren't happy before Satoshi was found.

I ask you as long as you know crypto or Bitcoin whether Bitcoin as an adjective (Imaginary), the answer lies in yourself...don't watch too much youtube that leads to the discussion of the Imaginary, it can worsen your life in assessing Bitcoin.

Indeed Bitcoin is 'Imaginary' but you receive banknotes after exchanging Bitcoins and making money, in 'proven' form.

People are happy because they live in the world of  fantasy. A fantasy in which they multiply the number in the wallet with the current price in dollars and think they're rich. Dollar rich. Dollar is real asset, real debt ownership. To get that ownership they need to sell their numbers. Meaning, they need to find the whole army of new investors. But no such army exists. When the army of wallet holders start to sell, the price will drop faster than it went up. Then you'll see a lot of unhappy people. Only the minority can profit in the scheme where all profits to old investors came from funds of new investors. Hint: Ponzi.

[DooMAD]

Bitcoin does not represent debt like dollar.

That's a feature, not a bug.  It's kinda the whole point.  But congratulations for finally getting off the mark with some basic comprehension.

Bankruptcy is an inevitable consequence for some in a debt-based system.  It literally cannot be avoided.  A certain number of people have to fail, effectively be chewed up and spat out by the machine, in order for the system to continue to function.  

Why would we want to emulate that?

[Antithesis]

Bitcoin does not represent debt like dollar.

That's a feature, not a bug.  It's kinda the whole point.  But congratulations for finally getting off the mark with some basic comprehension.

Bankruptcy is an inevitable consequence for some in a debt-based system.  It literally cannot be avoided.  Some people have to fail, effectively be chewed up and spat out by the machine, in order for the system to continue to function.  

Why would we want to emulate that?

Sure some people fail. But most do not. And that's why the banking system functions globally just fine.

[DooMAD]

Bitcoin does not represent debt like dollar.

That's a feature, not a bug.  It's kinda the whole point.  But congratulations for finally getting off the mark with some basic comprehension.

Bankruptcy is an inevitable consequence for some in a debt-based system.  It literally cannot be avoided.  Some people have to fail, effectively be chewed up and spat out by the machine, in order for the system to continue to function.  

Why would we want to emulate that?

Sure some people fail. But most do not. And that's why the banking system functions globally just fine.

But you see how accusing Bitcoin of being a trap is a bit thin when you would rather model it on the existing trap that feeds on people, right?  Or perhaps you have no sense of irony.  It's honestly difficult to tell.