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

[franky1]

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.

lol
firstly i have apple shares. but i would never say i am the CEO of apple. .. as you say its a "representation"
firstly i have some fiat.. but i would never say i own debt.. as you say its a "representation"

secondly with shares, Apple can dilute the shares even without their "representative" owners consent
secondly with FIAT, banks can inflate the currency even without their "representative" owners consent

but bitcoin is different. it cant simply just change the rules without its owners consent
bitcoins blockchain actually is so transparent you can follow every transaction back to its mined block reward. you cant do "digital manipulation" in bitcoin.

i have a many bitcoin hoarded. but lets just say i have bitcoin address that i play with daily and i can guarantee you that you will not be able to stop me doing things with my coins. you cant:
freeze my funds
destroy my funds
take ownership of my funds behind my back
dilute my coins
inflate my coins
counterfeit my coins
destroy the transparent trail back to its source
destroy the relay effect that allows spending

the coins i own i own. not by representation. but by actual ownership.

now with that said..
as long as bitcoin has a purpose/utility. then it has value.
and bitcoin does have purpose/utility.

so i do own bitcoin which has value. which means i do own something.

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[fxsurfer]

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.

lol
firstly i have apple shares. but i would never say i am the CEO of apple. .. as you say its a "representation"
firstly i have some fiat.. but i would never say i own debt.. as you say its a "representation"

secondly with shares, Apple can dilute the shares even without their "representative" owners consent
secondly with FIAT, banks can inflate the currency even without their "representative" owners consent

but bitcoin is different. it cant simply just change the rules without its owners consent
bitcoins blockchain actually is so transparent you can follow every transaction back to its mined block reward. you cant do "digital manipulation" in bitcoin.

i have a many bitcoin hoarded. but lets just say i have bitcoin address that i play with daily and i can guarantee you that you will not be able to stop me doing things with my coins. you cant:
freeze my funds
destroy my funds
take ownership of my funds behind my back
dilute my coins
inflate my coins
counterfeit my coins
destroy the transparent trail back to its source
destroy the relay effect that allows spending

the coins i own i own. not by representation. but by actual ownership.

now with that said..
as long as bitcoin has a purpose/utility. then it has value.
and bitcoin does have purpose/utility.

so i do own bitcoin which has value. which means i do own something.

If you have a problem with investing your goods and services into Apple or into borrower's debt( i.e. using debt certificates in the form of fiat currencies), then simply don't invest in these items. But that doesn't mean that altering digits, after you gave goods and services for free to someone, is investing into something. It is not. It is just numerical marking of your gift.

[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.

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.

Manipulating digits is not investing. An investment is an item acquired with the goal of generating income. No item is acquired when one purchases bitcoin. Only digits are changed.

[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.

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

Not necessarily. When you own the game you're already entertained and you have to own that additional stuff. You are able to play without it, but people are spending money to buy ingame currencies and items which exist only on a server owned by Blizzard or some other developer.

On the other hand, you've just admitted that entertainment is something. Intangible value?
If Bitcoin is buying financial freedom, safety, an ability to distance myself from fiat currency and people who print it, a way to own something that cannot be taken from me by corrupt politicians, cops, thieves, it is something. Something I'm willing to pay for.

[creeps]

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

There is so much use for bitcoin and i don’t think its nothing. This is making panic to people of course, though it explained well but I’m still not convince to sell my bitcoin. This is nothing simply because some government can’t accept it but it doesn’t mean its true. As a user/hodler we can confirm that bitcoin is all we need to improve our financial system.

[shield132]

OP you are 50% right and 50% wrong. You own some numbers of thing called bitcoin, also you own some papers called usd. How do you give value to usd and reject bitcoin? This is first very illogical thinking. In reality non of them has value, you own paper which you can burn as well as paper from your notebook. But things aren't like that. We have to accept something that will be exclusively used in buying and selling of everything, then we set values of each item or service or anything. When I receive dollar, I know others will happily receive it too, that's why it has value for us, same on bitcoin.

[_Miracle]

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.

lol
firstly i have apple shares. but i would never say i am the CEO of apple. .. as you say its a "representation"
firstly i have some fiat.. but i would never say i own debt.. as you say its a "representation"

secondly with shares, Apple can dilute the shares even without their "representative" owners consent
secondly with FIAT, banks can inflate the currency even without their "representative" owners consent

but bitcoin is different. it cant simply just change the rules without its owners consent
bitcoins blockchain actually is so transparent you can follow every transaction back to its mined block reward. you cant do "digital manipulation" in bitcoin.

i have a many bitcoin hoarded. but lets just say i have bitcoin address that i play with daily and i can guarantee you that you will not be able to stop me doing things with my coins. you cant:
freeze my funds
destroy my funds
take ownership of my funds behind my back
dilute my coins
inflate my coins
counterfeit my coins
destroy the transparent trail back to its source
destroy the relay effect that allows spending

the coins i own i own. not by representation. but by actual ownership.

now with that said..
as long as bitcoin has a purpose/utility. then it has value.
and bitcoin does have purpose/utility.

so i do own bitcoin which has value. which means i do own something.

You will get bored with this conversation quickly franky1
fxsurfer doesn't have even the basic understanding of money, banking , investments, nontangible assets and zero understanding of bitcoin.

[taguig]

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.

This is not an educational video at all it's fuds, the video owner forgot to include the benefits and the technology behind Bitcoin and to explain what blockchain and decentralization are all about, it will not succeed creating fuds to the community.

[Romeotom]

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.

Absolutely bitcoin is the good asset for our investment and trading more eran money.so my explain is clear now ,and I have lot of successful about bitcoin ability.trade,invest and ico investment I have good successful with the bitcoin. unfortunately,need to talking about holders people's and their successful.so basically you need more learning about bitcoin market then you will understand what is bitcoin,how I will get more profitable with the bitcoin.

[St4yInTh3D4rk]

As long as bitcoin have the value ad it can be liquidated into fiat then it is not something,we can convert it into fiat whenever we want with the increase or decrease with the value from the prices while we bought it,this is called investment (digital investment).

[Kakmakr]

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 ?)

Well, check his/her post history and you will see that OP is the local troll. These guys have different reasons for doing this, some just like the thrill of pissing people off and others are paid shills. You even get some people that made bad investment decisions and wants to take revenge by posting nonsense like this, to inflict as much damage as possible to act out their rage. <Butthurt Bitcoiners>

No matter what his/her reasons are for doing this, it is still a pathetic strategy that are easily countered by facts.  

[Ridwan Fauzi]

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.

First I will not see the video because it will make the video viewer will be a lot and also make the video keep being motivated to make other videos in order to spread negative issues about bitcoin, it's not good consumption.

For the OP, do you believe what about the video? if you don't believe it, it's a good idea not to spread the video. The bitcoin market in the past year has decreased, most of the decline was caused by bad information disseminators about bitcoin and advised others not to invest.

[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.  

Not necessarily. When you own the game you're already entertained and you have to own that additional stuff. You are able to play without it, but people are spending money to buy ingame currencies and items which exist only on a server owned by Blizzard or some other developer.

On the other hand, you've just admitted that entertainment is something. Intangible value?
If Bitcoin is buying financial freedom, safety, an ability to distance myself from fiat currency and people who print it, a way to own something that cannot be taken from me by corrupt politicians, cops, thieves, it is something. Something I'm willing to pay for.

With ingame currencies and items you are able to unlock new game features and thus, receive a higher degree of entertainment. And obviously, 'new features' are something. But, this has nothing to do with Bitcoin, as Bitcoin is just a fancy name for digit alteration. You can alter digits in your own excel document if this is what entertains you. But why would you pay $3,500 or even $1 for digit alteration? It's completely irrational. Bitcoin is NOT buying financial freedom as digit alteration is related to neither finance nor freedom. Bitcoin is simply giving away your possessions for free.

[_Miracle]

" Bitcoin is simply giving away your possessions for free."

You should let my government in on your thoughts about this so that they will refund
the taxes I paid on my gains last year.

[teejayrichard2]

well, who made the video has his or her own view and see things differently. since bitcoin came up, we have seen so many analysis being made and people saying their opinion about what they think or feel about bitcoin but then doesnt change waht i believe about bitcoin

[TradingIsBreath]

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 ?)

Motivation is the lack of Blockchain knowledge Think other way physical money can be lost/destroyed during natural calamities but Cryptocurrencies are safe.

[valentin68]

  The video is saying that if you trade your car for bitcoin you get nothing but Bitcoin. But this video is not saying that the Bitcoin that you obtain for your car can be witdrawn (in Dollars, in Euros, in every world's currency) to Bitcoin ATMs that you we can find everywhere in this world. The bitcoin that you get can be sent in 5-30 minutes to every person in the world, it can be used instantaneously on Coinbase (withdrawing it to PayPal), to buy everything you want offline and online.
  
 They say that you get nothing but a registered transaction, but this is very good with bitcoin. With bitcoin you have proof of this transaction, you sold something (a TV for example) and got paid in Bitcoin, and you have the PROOF of this transaction.  This bitcoin that you have received you can use it to pay for food, etc, and you can send it  in minutes everywhere in this world as payment for something that you have bought. And you have the proof of doing this.

  I repeat Bitcoin can be withdrawn in every Currency in this world (Dollars, Euros, GBP etc) in cash, at many ATMs that you can find in every big city. And if this is not sufficient, you can withdraw bitcoin from Coinbase to Paypal or to Skrill, and buy with PayPal or Skrill, whatever you want offline and online.

        
    

[Halmater]

A person who make a video like that has no idea what bitcoin really means. If people can use bitcoin as a payment and transaction tool, it is already turned into a currency and they don't need to exchange it to a fiat currency. Value of any asset or currency is determined by people who use it and people value things that are more useful for themselves. By time, everybody will understand that a decentralized cryptocurrency has more potential and may be a more useful tool than fiat currencies.