Bitcoin is a scam that thrives on language manipulation

[X7]

This is technology and not a scam, if in the case of a transfer the sent is a value, and if you consider bitcoin to be just manipulation, then you will never be able to exchange bitcoin with fiat that you can use to meet your needs.

Calling a database management system a payment system and a database entry a money is a scam by definition.

You're clearly a troll who does not wish to engage in actual conversation, or have an agenda. Go waste someone else's time.

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[Mr.Ease]

For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) are transferred from one person to another.

This is retarded.

Bitcoin can do everything what FIAT money does, except the inflation which is a feature.

the FED can create infinite amounts of Dollars but there will be only 21 million bitcoins. No central bank has the power to create more coins.

This is retarded. Gosh - I was about to say that but you beat me too it  

"Fiat money is created when a bank grants a loan" - What? So your saying that banks can 'Make Something from Nothing"? and call it valuable? Just grant as many loans as possible then right? Still making tons of free money?

I really thought you made it clear that something cannot come from nothing?

Fiat money is made from a printing press, and since the gold standard is out the window, the value is traditionally based upon the economy and the amount of 'bills' in circulation... But that is still something people need to agree on, which is why currencies are also very unstable.

I'm guessing your methods of "Money Creation" was what Venezuela was following.

[cryptomaster420]

If we start from a simple and undeniable fact that SOMETHING cannot appear or despair by changing entries in a database, then it is obvious that so called Block Reward, which is just an algorithmic change of entry in a database(blockchain) — from 0 to 50 initially, is actually the creation of NOTHING or nothingness. But people did something strange — they gave a fancy name to this nothingness — Bitcoin. So, a mere change of entry in a database is given a name, which is in itself a bizarre thing to do. But anyhow, here is where the language manipulation kicks in. Changing entries is obviously just a database management and it belongs to the field of informatics. But what people did is they took the definition of "payment" - which belongs to the field of economy, and they copy/pasted that definition next to the phrase — "change of entry in a database". This created the illusion that when you change entry in a database(blockchain) you are actually transferring SOMETHING to another person, i.e. that you are paying. But payment is transfer of SOMETHING (rights, services or goods) from one person to another.

For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) is transferred from one person to another.

But by changing blockchain value from 1 to 3 for e.g., obviously NOTHING has been transferred since values in that database are neither representations of rights nor goods or services. So, changing numbers in a blockchain has nothing to do with payment or economy which renders bitcoin a scam that thrives on language manipulation.

And where does the value for the LOAN come from? Cmon dude, do some critical thinking, maybe fill up your basic economics gaps. There's nothing that FIAT has going for it, and bitcoin doesn't - except for a number of ways to take power away from the working people and putting it in the hands of central planners.

[fxsurfer]

Well, you can call fiat money(loans) crap if you like, but this won't change the fact that Bitcoin system is not a payment system but a database management system and that it has nothing to do with money and economy.

Except that it clearly is an economy.  It's our economy and we couldn't care less if it doesn't meet your "standards" to qualify as an economy.  You are of no consequence to us.

It is not economy because economy assumes the exchange of SOMETHING while in the case of Bitcoin NOTHING is exchanged but only database entries are altered.

[franky1]

For. e.g. fiat money is created when a bank grants a loan i.e. SOMETHING, which is why paying someone with fiat money is actually the transfer of rights derived from bank loans. That is why fiat money fits the definition of payment — SOMETHING (rights recorded in the banking system) is transferred from one person to another.

you say FIAT is real because its something.. you say its something because a bank grants a loan to exist.
then by saying such, your also saying bitcoin is real because its something. the blockchain and people validating it say its something because they grant the block reward to exist

EG
a orphaned block/rejected block is not something. the community reject such blocks. and so orphaned blocks are not something.
the same as rejected loan agreements is not something

you yourself then countered yourself by saying fiat is not something by initially saying

If we start from a simple and undeniable fact that SOMETHING cannot appear or despair by changing entries in a database,
then it is obvious that so called Block Reward, which is just an algorithmic change of entry in a database(blockchain) — from 0 to 50 initially, is actually the creation of NOTHING or nothingness.

bank loans are exactly the same. changing entries in a database. thas all a bank loan is....
granting a bank loan is based on meeting a rule threshold for acceptance

so if you think bank fiatloans are something. then bitcoin rewards are something too. as those that grant/accept a block, agree it is acceptable and meets the accepted threshold to allowed to be created

But people did something strange — they gave a fancy name to this nothingness — Bitcoin. So, a mere change of entry in a database is given a name, which is in itself a bizarre thing to do. But anyhow, here is where the language manipulation kicks in. Changing entries is obviously just a database management and it belongs to the field of informatics. But what people did is they took the definition of "payment" - which belongs to the field of economy, and they copy/pasted that definition next to the phrase — "change of entry in a database". This created the illusion that when you change entry in a database(blockchain) you are actually transferring SOMETHING to another person, i.e. that you are paying. But payment is transfer of SOMETHING (rights, services or goods) from one person to another.

the payment is not simply changing a entry. its having the entry which can only be changed by a certain entity giving permission for another entity to have it. this is about ownership, permission, and change of controller/ownership/permission

..
now you understand that FIAT and bitcoin in respect of data is the same. what you have to realise is the VALUE of that data is decided by those that have control/permission to change the data from one entity to another.

take for instance, bitcoin. people know the bottomline value of bitcoin (the lowest value they would dare swap the control/permission of the entry) is based on the creation/acquisition cost of that. so if it costs $43k of electric and ASIC hardware to create a block with a reward entry of 12.5. then those with permission to change who gets to has control/permission of the 12.5 entry wont swap such permission below cost.
the receiver wont accept the 12.5 entry for $43k if they did not think it was worth that much effort/cost

this is where the markets develop. where people start to display their thinking of what the value should be for the entries they want to send and receive.
and this is where bitcoin has more benefits than FIAT.
because there is an underlying cost for its creation/acquisition (asic mining)

yes there is speculation. which is where ABOVE the underlying value(bottomline cost) that people speculate that future or utility  premium to add on to the value. but the underlying cost/value still has relevance.
people get to a point where they would see that bitcoin wont just disappear instantly. thus there is no point selling right down to zero as they can see it will still function the next day. so people instead set a bottom limit to how low they will refuse to sell below. which is mainly their acquisition/creation cost(buying/mining cost)

FIAT has a more flimsier less set in stone underlying value. U.S government for instance try to form a underlying value of things such as $7.50 is the minimum value for an hour of sweat labour (minimum wage laws)

[mindrust]

What if it is a database?

If you think that way, then Central Bank printed money are just papers.

It is the people who make these things valuable.

Let me think further like you...

Gold is a damn stone which shouldn't have any value... but it does. Guess why? Because we people give it.

Bitcoin does something and what it does is being found valuable by the community.

As simple as it gets...

[fxsurfer]

And where does the value for the LOAN come from? Cmon dude, do some critical thinking, maybe fill up your basic economics gaps. There's nothing that FIAT has going for it, and bitcoin doesn't - except for a number of ways to take power away from the working people and putting it in the hands of central planners.

From loan contracts, collaterals and bank capital.

fxsurfer.. you lack the basic knowledge of FIAT that has had the same rules probably longer then you have been alive.. so you have had plenty of time to research fiat..

LOANS are not created from bank capital or collateral. they are just entries into a bank database.
do your research.. im laughing that you think banks are using capital to make loans..

When a bank grants a loan, the loan contract is shown both, as an increase in bank’s assets because the bank now has an additional claim on borrowers, and as a positive entry on the liability side of the bank’s balance sheet, because fiat money owners now have an additional claim on the bank. Given the fact that a claim is property in the fullest sense of that term, that it has its own value, and it may be sold, transferred, mortgaged, and inherited, it follows that dollars, euros or pounds are actual things with intrinsic value.

What that means in practice is that borrowers have two options: either they will sell their services and valuable things to fiat money owners directly on the marketplace to get money for their loan payments, or the bank will take possession of their land, cars, homes and will sell their valuable things to the owners of fiat money indirectly, via foreclosure. So one way or another, legal enforceability of fiat money, i.e. its claim status, ensures that its owners will come back into the possession of valuable things similar to those they handed out to borrowers or other people in the money circulation chain.

And that’s the beauty of fiat money. Since it comes from debt, and debt is a legally enforceable liability that must be settled, the demand for dollars, euros or pounds will exist as long as this type of money exists. In other words, even if people completely abandon fiat money as means of exchange, the borrowers are still forced to use it until all their debt is paid off, since non-acceptance of fiat money won’t make borrowers’ obligations go away. That means that ultimately, fiat money will provide its owners with actual things in the form of goods, services or property of borrowers, just like the gold certificates provided their owners with actual gold. To put it another way, in the past, fiat money was backed by gold, today, it is backed by the assets of the banks and by land, cars, homes and other property of the borrowers.

So no, loans are not just entries into a bank database. Loans are both rights and obligations. Bitcoin on the other hand is just entry into a database, i.e. - NOTHING.

[fxsurfer]

What if it is a database?

If you think that way, then Central Bank printed money are just papers.

It is the people who make these things valuable.

Let me think further like you...

Gold is a damn stone which shouldn't have any value... but it does. Guess why? Because we people give it.

Bitcoin does something and what it does is being found valuable by the community.

As simple as it gets...

Central Bank printed money are papers that represent loans of borrowers the same as paper Treasury bill certificates represented a short-term debt obligation of the U.S. government. Loan and debt are SOMETHING. Bitcoin is NOTHING.

[santiPOGI]

BITCOIN is being use to scam people, but BTC it self is not a scam but another level of money!
This ipens new opportunity to many people, but these people or we, should know the right use of this currency.
If we will be looking forward to it like what pyramiding made to us before, then you should stay away!

[mindrust]

What if it is a database?

If you think that way, then Central Bank printed money are just papers.

It is the people who make these things valuable.

Let me think further like you...

Gold is a damn stone which shouldn't have any value... but it does. Guess why? Because we people give it.

Bitcoin does something and what it does is being found valuable by the community.

As simple as it gets...

Central Bank printed money are papers that represent loans of borrowers the same as paper Treasury bill certificates represented a short-term debt obligation of the U.S. government. Loan and debt are SOMETHING. Bitcoin is NOTHING.

And they can print those papers infinitely which means they can create infinite debt.

That's uh scam baby.

You can't do that with bitcoin because you can't create more than 21 million coins.

The amount of debt you can have with bitcoin is limited, unlike FIAT.

Go take eco101. You need proper education.

[franky1]

When a bank grants a loan, the loan contract is shown both, as an increase in bank’s assets because the bank now has an additional claim on borrowers, and as a positive entry on the liability side of the bank’s balance sheet, because fiat money owners now have an additional claim on the bank. Given the fact that a claim is property in the fullest sense of that term, that it has its own value, and it may be sold, transferred, mortgaged, and inherited, it follows that dollars, euros or pounds are actual things with intrinsic value.

fiat money is as you said in previous posts. just an entry in a database.
the contract terms are not saved to that bank database. fiat money is just digits in a database

the rules of granting a loan are the rules of decision of those maintaining the databas. much like the bitcoins consensus protocol decides which block is acceptable

what happens with the units of account of a database are not shown in the database. again the consensus of a bank. the consensus protocol of bitcoin and the humans involved decide the value and reason to move the unit of account from one entity to another

bitcoin however is actually better than the banks fiat database because bitcoin can define rules in code rather than relying on paper/human thought. EG smart contracts can set utility/function to the units of account. even the very simple things such as a block reward remains locked(maturing) for 100 further blocks ahead of it before being spendable. thus making bitcoins unit of account more than just an entry in a database. but something of function/utility.

bitcoin too can do all the function of fiat. it can be transfered, the reason for the transfer can be for the same human decision as fiat, for being sold against products and services, inheritance. and yes even used to pay for a house. it can be escrowed and contracts set up that people then need to pay with other financial sources to repay the bitcoin payment of the house. just like mortgages

What that means in practice is that borrowers have two options

loan agreements are just protocol rules. much like bitcoin consensus rules. but its funny how your now diverting away from talking about the fiat itself and now talking about rules of human decision outside the context of the unit of account database

And that’s the beauty of fiat money. Since it comes from debt, and debt is a legally enforceable liability that must be settled, the demand for dollars, euros or pounds will exist as long as this type of money exists. In other words, even if people completely abandon fiat money as means of exchange, the borrowers are still forced to use it until all their debt is paid off,

no they are not forced to use it until all their debt is paid off
if i have british debt. i can simply get on a plane. go to america and use dollars and just leave the british debt.simple choose never to touch a pound ever again
debts can be written off
i can live on bitcoin, euro or any other currency. i can even live like a hermit and forrage for food. or do manual labour in exchang for barter for food/lodgings and avoid all fiat currency all together
this is because the fiat database unit of account is as you say just numbers on a database

since non-acceptance of fiat money won’t make borrowers’ obligations go away. That means that ultimately, fiat money will provide its owners with actual things in the form of goods, services or property of borrowers, just like the gold certificates provided their owners with actual gold. To put it another way, in the past, fiat money was backed by gold, today, it is backed by the assets of the banks and by land, cars, homes and other property of the borrowers.

So no, loans are not just entries into a bank database. Loans are both rights and obligations. Bitcoin on the other hand is just entry into a database, i.e. - NOTHING.

a blockreward is just an entry in a database. but the bitcoin consensus rules are the rights and obligations that make that blockreward 'granted' to exist. learn about consensus rules and orphans/rejects. it might surprise you
EG a block reward may only exist if it shows it has performed a minimum task and met rules. only blocks meting thos obligations get the right to have a blockrward granted to exist.

same as fiat is just an entry in a database. but the banker rules are the rights and obligations that make that fiat 'granted' to exist

atleast grasp the basics of economy

[fxsurfer]

What if it is a database?

If you think that way, then Central Bank printed money are just papers.

It is the people who make these things valuable.

Let me think further like you...

Gold is a damn stone which shouldn't have any value... but it does. Guess why? Because we people give it.

Bitcoin does something and what it does is being found valuable by the community.

As simple as it gets...

Central Bank printed money are papers that represent loans of borrowers the same as paper Treasury bill certificates represented a short-term debt obligation of the U.S. government. Loan and debt are SOMETHING. Bitcoin is NOTHING.

And they can print those papers infinitely which means they can create infinite debt.

That's uh scam baby.

You can't do that with bitcoin because you can't create more than 21 million coins.

The amount of debt you can have with bitcoin is limited, unlike FIAT.

Go take eco101. You need proper education.

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that changed entry in a database(Bitcoin) is money or asset.

[mindrust]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

[fxsurfer]

When a bank grants a loan, the loan contract is shown both, as an increase in bank’s assets because the bank now has an additional claim on borrowers, and as a positive entry on the liability side of the bank’s balance sheet, because fiat money owners now have an additional claim on the bank. Given the fact that a claim is property in the fullest sense of that term, that it has its own value, and it may be sold, transferred, mortgaged, and inherited, it follows that dollars, euros or pounds are actual things with intrinsic value.

fiat money is as you said in previous posts. just an entry in a database.
the contract terms are not saved to that bank database. fiat money is just digits in a database

the rules of granting a loan are the rules of decision of those maintaining the databas. much like the bitcoins consensus protocol decides which block is acceptable

what happens with the units of account of a database are not shown in the database. again the consensus of a bank. the consensus protocol of bitcoin and the humans involved decide the value and reason to move the unit of account from one entity to another

bitcoin however is actually better than the banks fiat database because bitcoin can define rules in code rather than relying on paper/human thought. EG smart contracts can set utility/function to the units of account. even the very simple things such as a block reward remains locked(maturing) for 100 further blocks ahead of it before being spendable. thus making bitcoins unit of account more than just an entry in a database. but something of function/utility.

bitcoin too can do all the function of fiat. it can be transfered, the reason for the transfer can be for the same human decision as fiat, for being sold against products and services, inheritance. and yes even used to pay for a house. it can be escrowed and contracts set up that people then need to pay with other financial sources to repay the bitcoin payment of the house. just like mortgages

What that means in practice is that borrowers have two options

loan agreements are just protocol rules. much like bitcoin consensus rules. but its funny how your now diverting away from talking about the fiat itself and now talking about rules of human decision outside the context of the unit of account database

And that’s the beauty of fiat money. Since it comes from debt, and debt is a legally enforceable liability that must be settled, the demand for dollars, euros or pounds will exist as long as this type of money exists. In other words, even if people completely abandon fiat money as means of exchange, the borrowers are still forced to use it until all their debt is paid off,

no they are not forced to use it until all their debt is paid off
if i have british debt. i can simply get on a plane. go to america and use dollars and just leave the british debt.simple choose never to touch a pound ever again
debts can be written off
i can live on bitcoin, euro or any other currency. i can even live like a hermit and forrage for food. or do manual labour in exchang for barter for food/lodgings and avoid all fiat currency all together
this is because the fiat database unit of account is as you say just numbers on a database

since non-acceptance of fiat money won’t make borrowers’ obligations go away. That means that ultimately, fiat money will provide its owners with actual things in the form of goods, services or property of borrowers, just like the gold certificates provided their owners with actual gold. To put it another way, in the past, fiat money was backed by gold, today, it is backed by the assets of the banks and by land, cars, homes and other property of the borrowers.

So no, loans are not just entries into a bank database. Loans are both rights and obligations. Bitcoin on the other hand is just entry into a database, i.e. - NOTHING.

a blockreward is just an entry in a database. but the bitcoin consensus rules are the rights and obligations that make that blockreward 'granted' to exist. learn about consensus rules and orphans/rejects. it might surprise you
EG a block reward may only exist if it shows it has performed a minimum task and met rules. only blocks meting thos obligations get the right to have a blockrward granted to exist.

same as fiat is just an entry in a database. but the banker rules are the rights and obligations that make that fiat 'granted' to exist

atleast grasp the basics of economy

Well, you can keep repeating your nonsense but this won't change the fact that fiat money is DEBT(right and obligation), while entry in a database is just means to expres the size of this right and obligation. Your Bitcoin on the other hand is entry in a database that expresses the size of NOTHING.

[fxsurfer]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

What a stupid argument. It is like saying: we can create numbers infinitely - therefore NUMBERS are SCAM.

[mindrust]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

What a stupid argument. It is like saying: we can create numbers infinitely - therefore NUMBERS are SCAM.

Stupid argument? At least I got one. You don't have any.

Come back when you have something to say. Cursing and shouting gibberish won't help you.

[fxsurfer]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

What a stupid argument. It is like saying: we can create numbers infinitely - therefore NUMBERS are SCAM.

Stupid argument? At least I got one. You don't have any.

Come back when you have something to say. Cursing and shouting gibberish won't help you.

Well, your argument is indeed stupid since the ability to produce something doesn't render something a scam. Regarding my argument, it is pretty simple: Bitcoin is the name for changed entry in a database (change from 0 to 50 initially). By changing entries, SOMETHING cannot appear or despair. Therefore, Bitcoin is NOTHING. Telling the public that NOTHING is money or asset is SCAM.

[mindrust]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

What a stupid argument. It is like saying: we can create numbers infinitely - therefore NUMBERS are SCAM.

Stupid argument? At least I got one. You don't have any.

Come back when you have something to say. Cursing and shouting gibberish won't help you.

Well, your argument is indeed stupid since the ability to produce something doesn't render something a scam. Regarding my argument, it is pretty simple: Bitcoin is the name for changed entry in a database (change from 0 to 50 initially). By changing entries, SOMETHING cannot appear or despair. Therefore, Bitcoin is NOTHING. Telling the public that NOTHING is money or asset is SCAM.

You are still continuing with your gibberish.

Read my post above again.

Bitcoin's supply is limited. It is not debt papers. It doesn't promise you anything but a safe transaction.

FIAT used to be backed by gold. It is now backed by debt. You can't put a cap on the debt you create. Gold was limited supply, debt is not.

That's why they had to leave gold standard. Bitcoin is similar to gold standard. The supply is limited and you have to work to extract new coins.

The difference is, you can send and receive your money very fast, unlike gold. Also no physical form neither, again unlike gold.

Bitcoin is the ultimate form of money.

[fxsurfer]

Debt is not scam but a state of being under obligation to pay or repay someone or something in return for something received. Scam is when you tell the public that cnaged entry in a database(Bitcoin) is money or asset.

Debt is a scam when you can create them infitinitely.

USD is debt paper and FED can create debt paper infinitely. The debt papers they are creating is not backed by anything.

This is how this game ends:
Switzerland’s Central Bank Made $55 Billion Last Year—More Than Apple

Switzerland's CB made more money than Apple by doing simply nothing.

This is what the US doing for decades.

You can't do any of these with Bitcoin.

FIAT = Debt Paper = Bubble = SCAM.

Bitcoin = Pin.

What a stupid argument. It is like saying: we can create numbers infinitely - therefore NUMBERS are SCAM.

Stupid argument? At least I got one. You don't have any.

Come back when you have something to say. Cursing and shouting gibberish won't help you.

Well, your argument is indeed stupid since the ability to produce something doesn't render something a scam. Regarding my argument, it is pretty simple: Bitcoin is the name for changed entry in a database (change from 0 to 50 initially). By changing entries, SOMETHING cannot appear or despair. Therefore, Bitcoin is NOTHING. Telling the public that NOTHING is money or asset is SCAM.

You are still continuing with your gibberish.

Read my post above again.

Bitcoin's supply is limited. It is not debt papers. It doesn't promise you anything but a safe transaction.

FIAT used to be backed by gold. It is now backed by debt. You can't put a cap on the debt you create. Gold was limited supply, debt is not.

That's why they had to leave gold standard. Bitcoin is similar to gold standard. The supply is limited and you have to work to extract new coins.

The difference is, you can send and receive your money very fast, unlike gold. Also no physical form neither, again unlike gold.

Bitcoin is the ultimate form of money.

The fact that some algorithmic constraint doesn't allow for sum of numeric changes in a database to exceed 21 million, has nothing to do with supply. Supply is a economic concept that describes the total amount of SOMETHING that is available to consumers. Since Bitcoin is the name for changed entry in a database and SOMETHING cannot appear or despair by changing entries, Bitcoin has nothing to do with mentioned economic concept. Bitcoin is an informatics concept related to database management. On the other hand, fiat money is economic concept since fiat money is DEBT or LOAN, which is an actual thing - SOMETHING that has supply by definition.

[NeuroticFish]

Since Bitcoin is the name for changed entry in a database and SOMETHING cannot appear or despair by changing entries, Bitcoin has nothing to do with mentioned economic concept. Bitcoin is an informatics concept related to database management. On the other hand, fiat money is economic concept since fiat money is DEBT or LOAN, which is an actual thing - SOMETHING that has supply by definition.

In the same way fiat money is represented by DB entries at banks, Bitcoin is represented by entries in blockchain.
They are similar. All the rest is convention. In the same way one accept fiat for his work and pay for goods and services, another can accept Bitcoin for his work and pay  for goods and services.
Indeed, there are difficulties in this because the poor legislation and the lack of payment processors make it difficult to accept and spend Bitcoin, but that will be solved in time.

You say debt, loan and so on. Cannot [insert any entity here] lend Bitcoin? As I said, it's all about convention. You have to either get out of that box, either stop trolling, whichever is the case.