Don't Buy Bitcoin - You'll Become the Owner of Nothing[VIDEO ]

[fxsurfer]

https://youtu.be/UMxR78-odgI

The linked educational video provides simple explanation why Bitcoin is not money, asset or payment system, but means for turning the ownership of something into the ownership of nothing.

[greeklogos]

Looks like true and explained easily for understanding, but I'm not agree. If you sell a car per bitcoin you actually get as much coins as the car costs in dollars at the moment of the deal. Meanwhile there is a possibility that bitcoin will raise and increase in several times in its dollar equivalent. So that moment the individual can cash it out per actual fiat and get much more money this way than if he would sell the car for dollars right away.

[ivannalog814]

https://youtu.be/FODBn7W0DcM

The linked educational video provides simple explanation why Bitcoin is not money, asset or payment system, but means for turning the ownership of something into the ownership of nothing.

I've noticed you're not exactly burning with love for bitcoin. You are not lazy to do this and prove to the world that bitcoin is useless ?) What motivates you my friend ?)

[Lyana]

Interesting animated video. I liked the information. I think everyone understands correctly and does not consider Bitcoin the best money to pay for anything. But if you think about it from the seller's point of view, the deal can be very profitable if he knows how to manage the cryptocurrency.

[HODL2090]

The video leans towards the idea that cause bitcoins are not recognized legal tenders then they are valueless, but as a commodity asset bitcoin has acquired a speculative value, this is not yet the ultimate bitcoin goal, but calling it 'nothing' when it has a value which can be exchanged for it is far from the current reality.

[mikeywith]

ownership of something into the ownership of nothing.

isn't this what FIAT actually does ?

you don't turn something into nothing, it is only a matter of exchange-platform , when you sell your house for fiat you know that fiat itself can't give you shelter, but it's simply an easy unit of exchanging your house for 2 cars and a small studio,bitcoin isn't any difference from that aspect. after all , all these payment methods are nothing but a medium of exchanging ownership of "actual" real life items.

[TimeBits]

OP I will give you 1$ for 1 Bitcoin, so you get something and I get nothing

[khufuking]

Opened the video and closed it after 20 seconds, the mechanic voice is very annoying  . The first few seconds in the video have an assumption that Bitcoin is nothing, and therefore selling anything with bitcoins mean you sell for nothing  . Now is there any explanation for why Bitcoin is nothing?

For the dumb person who made this video the certificate that you need to prove that your own this Bitcoins is your private keys.

[Bttzed03]

Lol what the heck is this video? Looks like something done by someone working in the traditional financial market. Bitcoin is already accepted as legal tender and that's that.

[playboy654]

https://youtu.be/FODBn7W0DcM

The linked educational video provides simple explanation why Bitcoin is not money, asset or payment system, but means for turning the ownership of something into the ownership of nothing.

Bitcoin money making way that we have to think like both positive and negative there are equally happened in this field but we have to take only the positive think if we want to make more money this way will help you to take to the upper stage that's why it can win important for everyone

[franky1]

1. you cant take Apple shares into an Apple store declaring you already own the products to just take them away.
    you cant take Apple patent for a certain chip into an Apple store declaring you own the products to just take them away.

2. bitcoin is an asset.
        this is because just like a patent, share, brand its not tangeable(physical object) but intellectual ownership.
        to say bitcoin is nothing is the same as saying brands, patents, shares are nothing.

3. the OP can make the same argument that fiat is nothing. that people need to convert products/services into value measured in fiat for fiat to have value.
bitcoin is the same it has an actual cost to its creation and people use it for products and services and vice versa

the argument can be expanded into anything tangeable(physical) and non tangeable(not physical). take cow manure. many think that it has no value and is nothing. yet if a farmer wants to give it utility by using it as fertiliser. then it gains utility which gives it value.

unlike 99.9% of PoS coins that have no coin creation costs and no infrustructure to sustain utility. bitcoin has both cost of creation and utility.

4. here is an argument that the OP should consider and understand and agree with

its all about cost of creation, utility.
this is why its important that bitcoin remains a medium of exchange. as oppose to just becoming a store of value for the sake of only being a store of value. as that would then make bitcoin worth nothing.
without a medium of exchange, miners wont want to use their costs to create it to then find they cant use it.
people wont want to buy it if they cant use it for anything
thus the cost of creation depletes as miners withdraw. as the utility will be gone that gives it some of its value in the first place. so thinking of bitcoin as becoming just a "store of value" without utility. will be a downfall of bitcoin.

but to suggest bitcoin is nothing. is to ignore its cost of creation and its medium of exchange currently

[coolcoinz]

I'd like the maker of this video to explain to me what is happening when I'm buying an item in an RPG game, or an ingame currency, or a CS weapon skin. Am I buying nothing? Let's compare to Bitcoin. When I buy Bitcoin I own it and nobody can take it away. I can also take it with me on a plane, or a train. When I buy an item in a game, I can't take it with me, it doesn't belong to me. It's still owned by the company that is hosting the game and can be wiped at any moment. My account in an online game can also be banned, rolled back, and so on.

The main statement of the video that in first time in human history we are exchanging something for nothing has just been proven wrong.

[metalglowd]

Looks like true and explained easily for understanding, but I'm not agree. If you sell a car per bitcoin you actually get as much coins as the car costs in dollars at the moment of the deal. Meanwhile there is a possibility that bitcoin will raise and increase in several times in its dollar equivalent. So that moment the individual can cash it out per actual fiat and get much more money this way than if he would sell the car for dollars right away.

That's what it means, changing something valuable into something that can't be resold

And vice versa, there is a possibility that bitcoin will continue to fall until there is no more interest in bitcoin. We must also anticipate something that has no certainty, like bitcoin.

[fxsurfer]

OP I will give you 1$ for 1 Bitcoin, so you get something and I get nothing

Well, in order for that to happen I would first have to give $3.5K to someone for free and in that way buy "nothing"(Bitcoin).  But, since I am not a greater fool that will never happen.

[perla]

Since first market created by people's belief that bitcoin have values, when people not believe it anymore, it wouldn't have any price. But i think there are nothing problem with it, even with fiat we have belief a paper can make us buy anything.

[fxsurfer]

I'd like the maker of this video to explain to me what is happening when I'm buying an item in an RPG game, or an ingame currency, or a CS weapon skin. Am I buying nothing? Let's compare to Bitcoin. When I buy Bitcoin I own it and nobody can take it away. I can also take it with me on a plane, or a train. When I buy an item in a game, I can't take it with me, it doesn't belong to me. It's still owned by the company that is hosting the game and can be wiped at any moment. My account in an online game can also be banned, rolled back, and so on.

The main statement of the video that in first time in human history we are exchanging something for nothing has just been proven wrong.

In that case, you are buying means for recreation and entertainment - hence, something. 

[fxsurfer]

1. you cant take Apple shares into an Apple store declaring you already own the products to just take them away.
    you cant take Apple patent for a certain chip into an Apple store declaring you own the products to just take them away.

2. bitcoin is an asset.
        this is because just like a patent, share, brand its not tangeable(physical object) but intellectual ownership.
        to say bitcoin is nothing is the same as saying brands, patents, shares are nothing.

3. the OP can make the same argument that fiat is nothing. that people need to convert products/services into value measured in fiat for fiat to have value.
bitcoin is the same it has an actual cost to its creation and people use it for products and services and vice versa

the argument can be expanded into anything tangeable(physical) and non tangeable(not physical). take cow manure. many think that it has no value and is nothing. yet if a farmer wants to give it utility by using it as fertiliser. then it gains utility which gives it value.

unlike 99.9% of PoS coins that have no coin creation costs and no infrustructure to sustain utility. bitcoin has both cost of creation and utility.

4. here is an argument that the OP should consider and understand and agree with

its all about cost of creation, utility.
this is why its important that bitcoin remains a medium of exchange. as oppose to just becoming a store of value for the sake of only being a store of value. as that would then make bitcoin worth nothing.
without a medium of exchange, miners wont want to use their costs to create it to then find they cant use it.
people wont want to buy it if they cant use it for anything
thus the cost of creation depletes as miners withdraw. as the utility will be gone that gives it some of its value in the first place. so thinking of bitcoin as becoming just a "store of value" without utility. will be a downfall of bitcoin.

but to suggest bitcoin is nothing. is to ignore its cost of creation and its medium of exchange currently

I don't understand what are you trying to prove. Apple shares represent the ownership of something (multinational technology company). Fiat currencies also represent the ownership of something(debt certificates).  Bitcoin is a system for digit manipulation, and as such it has nothing to do with ownership, i.e. by owning the result of digit manipulation you own nothing.

[bellamente]

Do you want to use panic to buy cheap bitcoin?

Bitcoin is recognized as a crypto community and is a means of payment in Japan. This can not be denied

[TimeBits]

When you work for usd,cad,euro,yen or other fiat $lavery $ystem BULLSHIT currency, you trade your time (limited) for a unlimited supply.

I much rather trade my limited time and work for a limited supply(like gold or bitcoin). So I cannot get cucked for unlimited amounts of time and work.

[Nhor1011]

https://youtu.be/UMxR78-odgI

The linked educational video provides simple explanation why Bitcoin is not money, asset or payment system, but means for turning the ownership of something into the ownership of nothing.

Bitcoin is good investment and helped a lot to earn then wht you said bitcoin is a system for turning into nothing? I think you need to learn more about it. I also think it depends on how you accept bitcoin,on your beliefs and understanding the meaning of bitcoin.For me bitcoin is for everything.