Bitcoin Is The Most Ridiculous Invention Ever Made

[pixie85]

It looks like a troll post. If you come to a Bitcoin forum to say that Bitcoin is worthless you won't be taken seriously. That's how it is. You could argue with us that it's not the best solution or that it has its flaws but saying that it's worth nothing and that it doesn't exist is plain stupid. Do you do that with all the things you don't like? Look for a thematic forum full of people that like it and tell them they're stupid to do so?

[r1s2g3]

---snip ----

Very short answer to your whole theory:
1. Even those paper/debt certificate that you are claiming to own can be worthless as in case of Zimbabwe.
2. Bitcoin can be redeemed any day for those paper/debt certificate.


And Bitcoin is one of the advance technological product and you need to read below to understand this.
https://bitcointalk.org/index.php?topic=5066766.msg

[tarukam]

haha it's true this is amazing they believe something that is not visible and I also believe it. but I think this is not unreasonable this is technology not an object so I think it's normal if a lot of people invest

[Ozero]

It seems that the reasoning and the futility and insecurity of cryptocurrency will always go. The author of this topic is largely right if you look at cryptocurrency from the point of view of classical economics. Yes, the cryptocurrency from the point of view of this worldview, this is a financial bubble and this, in principle, is true. Cryptocurrency is not supported by anything and is based on trust. However, as long as such trust exists, it brings substantial benefits to its owners. Therefore, when using cryptocurrency, it is necessary to take into account possible risks and always be prepared for the fact that after a certain short time, individual coins and tokens, and with a big panic, the whole cryptocurrency may disappear. Although this is unlikely, this possibility cannot be completely excluded. In cryptocurrency, you can make good money, but you need to be watchful.  For our solutions in cryptocurrency, we alone are financially responsible.

[Spaffin]

haha it's true this is amazing they believe something that is not visible and I also believe it. but I think this is not unreasonable this is technology not an object so I think it's normal if a lot of people invest

Cryptocurrency is not devoid of meaning. This is technology and it works. Until. While many believe in it, because this technology is based on trust. Any business must operate with a certain degree of trust. Without trust it is impossible to enter into agreements and have a profit. However, any other business is material. Cryptocurrency is almost entirely a virtual world, and we only commit transactions using material methods. All this is possible, because in the cryptocurrency economy, finance, technology are implicated on trust and logic. Cryptocurrency for those who can and knows how to take risks.

[Kakmakr]

Get your f#$% facts in order, when you make false statements like this!

Bitcoin is definately not the first instance where people pay fiat currencies for something that are written in code. People have been buying virtual property in online games and also skins and add-ons for in-game items for years.

You can even buy in-game tokens or virtual currencies for online games and all of this is just some entry on a digital ledger or a piece of code. <Software>

Do not Cherry pick a specific incident to suite your hidden agenda. 

[Aponkye1]

No body is begging you to stay in bitcoin investment. if you claim is the most insane invention then you should not worry making this public and save your self the trouble of being in this forum. You can leave this very minute and nobody would coax you to come back. The funny thing is that you will be running back here when the bull run begins hahahah...Such people always do lol

[CryptoBry]

In some aspects you can right but I would disagree that Bitcoin is really nothing well for as long as there will be people who believe in its value then it is valuable and this is the case with anything that can be traded even with gold...if people one day will decide that they don't want to get involved with gold anymore then it can be worthless and I think this can be the same thing with fiat money. This is the same principle with the law of supply and demand and we witnessed this in action with so many failed projects. Now, if you can convinced majority of the Bitcoin hodlers to shift to your conviction then soon Bitcoin might be back to ground zero. And starting on this forum can be a good practice.

[sarfield]

The discovery of bitcoin is the most impressive thing, with a belief system that all trades can be smooth. Online by researching all kinds of things that waste time, this is not effective. In the case of crypto trading, it has many features that are able to provide investors with interest. Trust is expensive and this is highly valued.

[joseyphil82]

Wow do you get paid to post this on the forum? Sorry friend its not going to work on anyone on here ,bitcoin have gain ground and trust of almost all humans on eath ,posting that now its too late ,this is something you should have posted in 2010 maybe it would have work on some ? Cmon even western union is looking forward to making use of cryptocurrency in their system, sorry pal

[fxsurfer]

The discovery of bitcoin is the most impressive thing, with a belief system that all trades can be smooth. Online by researching all kinds of things that waste time, this is not effective. In the case of crypto trading, it has many features that are able to provide investors with interest. Trust is expensive and this is highly valued.

Of course that "all trades can be smooth" since you are trading the ownership of nothing. 

[cabron]

Wow do you get paid to post this on the forum? Sorry friend its not going to work on anyone on here ,bitcoin have gain ground and trust of almost all humans on eath ,posting that now its too late ,this is something you should have posted in 2010 maybe it would have work on some ? Cmon even western union is looking forward to making use of cryptocurrency in their system, sorry pal

They get something out of it though, they can buy back when price dips after this post. The most nonsensical invention is worth more than $3000, anyone in the right mind would think its nonsensical is obviously talking shit. You don't even need to be technical here with the economic terms. Bitcoin will be worth more than $20k later on but these guys will remain thinking its not useful. 

[fxsurfer]

Wow do you get paid to post this on the forum? Sorry friend its not going to work on anyone on here ,bitcoin have gain ground and trust of almost all humans on eath ,posting that now its too late ,this is something you should have posted in 2010 maybe it would have work on some ? Cmon even western union is looking forward to making use of cryptocurrency in their system, sorry pal

They get something out of it though, they can buy back when price dips after this post. The most nonsensical invention is worth more than $3000, anyone in the right mind would think its nonsensical is obviously talking shit. You don't even need to be technical here with the economic terms. Bitcoin will be worth more than $20k later on but these guys will remain thinking its not useful.  

Well, given $64.8 billion in the accounts of Madoff's 4,800 clients it follows that Bernie Madoff's ponzi invention was "worth" more than $13 million per client, and that's way more than $3000. So, anyone who think Madoff's invention is "nonsensical" is talking shit. Right?

[aoluain]

It looks like a troll post. If you come to a Bitcoin forum to say that Bitcoin is worthless you won't be taken seriously. That's how it is. You could argue with us that it's not the best solution or that it has its flaws but saying that it's worth nothing and that it doesn't exist is plain stupid. Do you do that with all the things you don't like? Look for a thematic forum full of people that like it and tell them they're stupid to do so?

I was thinking the same or that maybe this thread was created to open discussion
and draw in the people who can argue bitcoins existence and who truly have an
understanding of crypto and economics and by that way the OP is showing the non
believers or doubters the viability of bitcoin through other members posts.......

But then the OP's last post discounts my idea, they really dont get it.

Well, given $64.8 billion in the accounts of Madoff's 4,800 clients it follows that Bernie Madoff's ponzi invention was "worth" more than $13 million per client, and that's way more than $3000. So, anyone who think Madoff's invention is "nonsensical" is talking shit. Right?

You cannot compare bitcoin to a ponzi scheme, how many times has this been
explained, can you not really understand this? Because 99% of people on this
forum can make the difference.

You need to go and read Franky1's first post!

[fxsurfer]

It looks like a troll post. If you come to a Bitcoin forum to say that Bitcoin is worthless you won't be taken seriously. That's how it is. You could argue with us that it's not the best solution or that it has its flaws but saying that it's worth nothing and that it doesn't exist is plain stupid. Do you do that with all the things you don't like? Look for a thematic forum full of people that like it and tell them they're stupid to do so?

I was thinking the same or that maybe this thread was created to open discussion
and draw in the people who can argue bitcoins existence and who truly have an
understanding of crypto and economics and by that way the OP is showing the non
believers or doubters the viability of bitcoin through other members posts.......

But then the OP's last post discounts my idea, they really dont get it.

Well, given $64.8 billion in the accounts of Madoff's 4,800 clients it follows that Bernie Madoff's ponzi invention was "worth" more than $13 million per client, and that's way more than $3000. So, anyone who think Madoff's invention is "nonsensical" is talking shit. Right?

You cannot compare bitcoin to a ponzi scheme, how many times has this been
explained, can you not really understand this? Because 99% of people on this
forum can make the difference.

You need to go and read Franky1's first post!

Why not? Ponzi is ownership of nothing the same as Bitcoin. So they are completely the same in that sense.

[satosibtc1000]

In fact, in our world there are no useless things as the creation of one technology leads to the creation of another and bitcoin is an example. Bitcoin start chain industry which is developing rapidly. I do not believe that bitcoin is useless.

[fxsurfer]

In fact, in our world there are no useless things as the creation of one technology leads to the creation of another and bitcoin is an example. Bitcoin start chain industry which is developing rapidly. I do not believe that bitcoin is useless.

Bitcoin in itself is useless as it represents the ownership of nothing. On the other hand, Bitcoin industry is not useless since it generates enormous profits for the exchanges, miners,  developers, ICO teams, wallet providers, etc. All of them benefit greatly from the game where greater fools transfer the ownership of nothing from one address to another. But this game will ultimately end as you can fool some of the people all of the time, and all of the people some of the time, but you can not fool all of the people all of the time.

[tdrinker]

Are you aware that when you trade goods, services or fiat currencies for Bitcoin, you actually bought nothing. In other words, by buying Bitcoin you sold the ownership of something and bought the ownership of nothing.

Whole your reasoning is flawed. If you buying gold, you trade goods, services or fiat currencies for it. You actually bought nothing, couple atoms dig up from dirt without value except people agreed to gold is valuable. Nothing else.
In Bitcoin you are owner of digital asset with limited availability (12 000 000). Gold has infinite amount out there so it inflate.

We can share arguments on and on but in the end, if you really understand invention and revolution, what bitcoin trully is, you wouldn't write things like that.

Gold isn't infinite. Nothing is truly infinite except maybe the universe. Gold is actually relatively finite compared to most things. It takes time for more gold to be produced over millions of years.

[pixie85]

It looks like a troll post. If you come to a Bitcoin forum to say that Bitcoin is worthless you won't be taken seriously. That's how it is. You could argue with us that it's not the best solution or that it has its flaws but saying that it's worth nothing and that it doesn't exist is plain stupid. Do you do that with all the things you don't like? Look for a thematic forum full of people that like it and tell them they're stupid to do so?

I was thinking the same or that maybe this thread was created to open discussion
and draw in the people who can argue bitcoins existence and who truly have an
understanding of crypto and economics and by that way the OP is showing the non
believers or doubters the viability of bitcoin through other members posts.......

But then the OP's last post discounts my idea, they really dont get it.

Well, given $64.8 billion in the accounts of Madoff's 4,800 clients it follows that Bernie Madoff's ponzi invention was "worth" more than $13 million per client, and that's way more than $3000. So, anyone who think Madoff's invention is "nonsensical" is talking shit. Right?

You cannot compare bitcoin to a ponzi scheme, how many times has this been
explained, can you not really understand this? Because 99% of people on this
forum can make the difference.

You need to go and read Franky1's first post!

He chooses the posts that he finds easy to argue with and only answers those. Of course he doesn't get it, he wants you to keep playing his game where you say it's not a ponzi, he ignores your arguments and says it is a ponzi. He made this thread to blow off steam and you're helping him do it.

[fxsurfer]

Let's compare this to fiat currencies because their misconception is the main reason why people fail to realize that by owning Bitcoin they own nothing. So, let's assume that you traded your car for 10,000 dollars. Now, the question is what do you own after such transaction? Do you own nothing or do you own something? Well, you own something. Namely, your own debt certificates. These certificates are either digital or paper. If you received banknotes you become the owner of paper debt certificates. If you received numerical value on your bank account you become the owner of digital debt certificates. With these certificates you are entitled to goods, services or property of borrowers. Let's explain how this ownership is utilized in practice.

^ FAIL
when you sell a car for FIAT. you dont own FIAT. you hold FIAT. but the FIAT is not yours.
its under licence by a government. they can take it from you without notice. they can freeze accounts they can tax it. they can do what they like, because its theirs.

with bitcoin you own the private key that secures that you have full ownership control of the bitcoin linked to the private key

i dare you to have a bitcoin private key and a bank account. and truly ask yourself. who controls what
go on try to move your fiat out of an ATM for more than $500 amount.

try spending a substantial amount ($10k) fiat via a bank account without the bank asking questions.
you do not own FIAT. they are just letting you handle it under their licence terms

try crossing a state/country border with $10k see how much FIAT you get to own without question

as for saying bitcoin is a nothing value.

bitcoin has a cost value.
im not talking about speculative price of the volatile market. im talking about the underlying value. the cost of its creation.

PoS coins for instance have no underlying value. as the underlying cost is zero. but bitcoin does have a underlying value.
you might wanna research that.

FIAT (not talking about market rate of loaves it would buy or rate compared to other currencies on forex) fiats underlying value is of the cost in its creation too. which is things like yes the debt (mortgage/credit agreement) that created the promissory note. but also the minimum wage laws that value a $7.50 as being an hours worth of sweat labour

.. one thing i do find funny.
a patent /copyright is just an idea. yet you argue people do have ownership of something. even if its just an idea.. but then try to say bitcoin idea is not real........ pick a hypocrisy and stick with it. you cant be right on both sides of a table especialy if a patent/copyright may not even come with any creation cost

A) The government has monopoly on force so it can use coercion to take your life, freedom and property from you. In the same way, it can take your dollars from you. So? What that has to do with the fact that dollars represent the ownership of certificates of borrowers' debt while bitcoin represents the ownership of nothing?

B) Value is a subjective concept that also has nothing to do with the fact menioned under A). Further, you cannot derive value from cost.  Cost is the amount or equivalent paid or charged. If you paid 5,000 dollars to buy Bitcoin or spent a large amount of electricity to mine one, Bitcoin is still the ownership of nothing. IOWs, there is nothing outside the blockchain that you become the owner of. You simply gave your dollars for free or waste your electricity. If you see "value" in something like that, that's your subjective thing. In reality, this is irrational behaviour.

C) Patent is not an idea, but right of the owner to exclude others from making, using, selling, and importing an invention for a limited period of time.