The Truth That Will Eventually Kill Bitcoin

[piebeyb]

the 5 minute video has made millions of bitcoin users leave bitcoin, it sounds ridiculous to make a video as detailed as this to knock us all down, how much do you get to make a video like this and worth sharing, even though I don't think anyone will listen to you, it looks like the I say not all people think the same way, maybe you think differently so you never know we are all here for bitcoin and we also don't know why you are here, we don't want to fool you here

[antikvark]

You are constantly missing the point of the video.

No, your lack of ability to understand bitcoin's technical side isn't my issue but rather yours... "Unspent Outputs" are what you would say Bitcoin's "market item" is... Do give Bitcoin's whitepaper a read and once you understand the concept of "Unspent Outputs" we can continue from there...

P.S I like how you are ignoring the points I made about FIAT.

You are using semantics to ignore the point. A member of a Ponzi scheme can also call his/her membership stakes "Unspent Outputs". But that doesn't change the fact he/she owns nothing beyond the record of these stakes.

P.S. You point about FIAT is besides the point. Money is not created out of thin air. It is the record about the existence of money what is created out of thin air. Money is loan, and loans are created out of collaterals, general abilities of borrowers to repay them and bank's equity.

[Thekool1s]

You are using semantics to ignore the point.

Lol... Just because you don't like the answer doesn't mean I'm ignoring your point or using "Semantics"... This whole arguing is pointless as I said above... There are more than 1 "market items" in my opinion in your's it maybe none... The whole idea of "market item" is based on "Opinions"... smh...

You point about FIAT is besides the point. Money is not created out of thin air. It is the record about the existence of money what is created out of thin air. Money is loan, and loans are created out of collaterals and general abilities of borrowers to repay them.

Semantics much...? See how easy it is to play this game? By your definition " It is the record about the existence of money what is created out of thin air. " Then Fiat money is also a fraud since it represents a number in a database and has no real market item to represent...


I'm gonna spectate for now and see what others have to say about this...

[antikvark]

You are using semantics to ignore the point.

Lol... Just because you don't like the answer doesn't mean I'm ignoring your point or using "Semantics"... This whole arguing is pointless as I said above... There are more than 1 "market items" in my opinion in your's it maybe none... The whole idea of "market item" is based on "Opinions"... smh...

You point about FIAT is besides the point. Money is not created out of thin air. It is the record about the existence of money what is created out of thin air. Money is loan, and loans are created out of collaterals and general abilities of borrowers to repay them.

Semantics much...? See how easy it is to play this game? By your definition " It is the record about the existence of money what is created out of thin air. " Then Fiat money is also a fraud since it represents a number in a database and has no real market item to represent...


I'm gonna spectate for now and see what others have to say about this...

Playing games is what you do. My point is simple: opinions reside in mind, records reside in databases and market items reside outside minds and databases.

Fiat money is a market item in the form of non-monetary repayments derived from loans, collaterals and bank's equity. Records that inform us about ownership, quantity, and name of this item reside in bank's databases.

Bitcoin, on the other hand, is just a record. A record without market item. It is a record that informs us about the fact that one gave his/her electricity, money, goods or services as a gift to either, community that holds blockchain addresses (maintenance purposes) or to a particular such holder (fake trading purposes — in reality scheme membership fee).

So when you traded some actual market items for bitcoins you didn't actually bought something, you didn't bought another market item. You simply entered the fraudulent scheme and got the membership stake in it. After that, all you have is hope that you will get out more market items than you paid in.

[antikvark]

Video edited to take into account points of this discussion.

[darkangel11]

First of all, I've watched a minute and already do not agree with the video.

They say dollars are representation of market items owned by you. So when you own a dollar bill you don't own just paper but a record of ownership that is equal to woning an item of value.
Not really. An item of value is widely accepted and will continue to be. If you have a bottle of alcohol, you can be 100% sure that it will continue to be valuable whatever happens. Even in a state of war or recession people will want alcohol to clean their wounds, start a fire, create molotov cocktails, prepare medicine, clean paint marks, or simply get drunk. Try doing the same with paper money. They are only a representation of items of value in a perfect world, where the government is in power, there's no war or civil unrest, and the economy is booming.

[Twentyonepaylots]

First of all, I've watched a minute and already do not agree with the video.

They say dollars are representation of market items owned by you. So when you own a dollar bill you don't own just paper but a record of ownership that is equal to woning an item of value.
Not really. An item of value is widely accepted and will continue to be. If you have a bottle of alcohol, you can be 100% sure that it will continue to be valuable whatever happens. Even in a state of war or recession people will want alcohol to clean their wounds, start a fire, create molotov cocktails, prepare medicine, clean paint marks, or simply get drunk. Try doing the same with paper money. They are only a representation of items of value in a perfect world, where the government is in power, there's no war or civil unrest, and the economy is booming.

Indeed, watched the video itself. And If we follow the principle of the person who wrote this video or at the very least put it up, then fiat will be a scam or a fraud too. To be honest, fiats aren't stable too if anything. They fluctuate and are volatile though not as much as bitcoin because of the high usage. The same will happen to bitcoin provided that it is accredited and is used globally. All this hate puts bitcoin on a bad spot, not so sure why people are so into putting bitcoin down.

[Linkkoin]

fiat will be a scam or a fraud too.

Partial reserve by banks and printing fiat out of thin relying on the reputation of a state air is nothing else but a legalized scam.

[coin-investor]

In the below 6-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

https://youtu.be/LlPwmW4XphE

I did not even go to the link and watch it if I do I will just be supporting all these lies, you are lucky this forum is unmoderated or else you will get ban for spreading lies, I pity you because you are ten years late to broadcast this if Bitcoin will die it would have done so in its early years not when it is moving fast in adoption.

[mindrust]

This was pretty retarded.

LoL considering that USD has a market item because it has a physical form and bitcoin doesn't.

Well, since you are stupid enough to believe this bull crap, I'll make a market Item for bitcoin too:



See? Now bitcoin isn't only a digital record anymore it has a market item too. (whatever the fuck that means)

[antikvark]

First of all, I've watched a minute and already do not agree with the video.

They say dollars are representation of market items owned by you. So when you own a dollar bill you don't own just paper but a record of ownership that is equal to woning an item of value.
Not really. An item of value is widely accepted and will continue to be. If you have a bottle of alcohol, you can be 100% sure that it will continue to be valuable whatever happens. Even in a state of war or recession people will want alcohol to clean their wounds, start a fire, create molotov cocktails, prepare medicine, clean paint marks, or simply get drunk. Try doing the same with paper money. They are only a representation of items of value in a perfect world, where the government is in power, there's no war or civil unrest, and the economy is booming.

The video says that a record is representation of dollars while dollars are the non-monetary repayments. It is pretty simple.

[antikvark]

In the below 6-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

https://youtu.be/LlPwmW4XphE

I did not even go to the link and watch it if I do I will just be supporting all these lies, you are lucky this forum is unmoderated or else you will get ban for spreading lies, I pity you because you are ten years late to broadcast this if Bitcoin will die it would have done so in its early years not when it is moving fast in adoption.

Name one lie in the video. You can't because the only one lying is you.

[antikvark]

This was pretty retarded.

LoL considering that USD has a market item because it has a physical form and bitcoin doesn't.

Well, since you are stupid enough to believe this bull crap, I'll make a market Item for bitcoin too:

https://images2.imgbox.com/b7/71/0cjtklCX_o.jpg

See? Now bitcoin isn't only a digital record anymore it has a market item too. (whatever the fuck that means)

This is not a market item. This is a record putted on paper medium. Market item exists outside the record. There is nothing outside the record that is owned by the person holding this paper. Meaning, this paper is a gift record confirming that the person entered the Bitcoin scheme.

[peter0425]

In the below 6-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

https://youtu.be/LlPwmW4XphE

don't you have some Drama or War Movies there?sorry but i am not watching BS on youtube so if you cannot offer us some good to watch then better GTFO here ,why staying here while you are not believing in this?

                          ~snip~

 Name one lie in the video. You can't because the only one lying is you.

lol if there is one lying here,surely its you and your video.

[Aikidoka]

very strange if there is someone who hates bitcoin but still likes being in the bitcoin community, Your place should not be here, I'm sure almost every bitcoin holder already knows the benefits and risks when using bitcoin, maybe you are a person injured because of bankruptcy in bitcoin 

Yeah, that's really weird to find someone here, that he doesn't like bitcoin, I mean, if you just don't like it, then just stay away from this community, we don't need a negative impact about bitcoin, we already know the risk about using cryptocurrencies and we're aware about that all.

[xZork]

Many people think that bitcoin is a joke however everyone on this forum believes in bitcoin and its future. In fact, there are many rich people thanks to bitcoin and bitcoin has a very beautiful future.
I think that with just one regulation in favor of cryptocurrencies from the government, the price of bitcoin will certainly increase.

[antikvark]

In the below 6-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

https://youtu.be/LlPwmW4XphE

don't you have some Drama or War Movies there?sorry but i am not watching BS on youtube so if you cannot offer us some good to watch then better GTFO here ,why staying here while you are not believing in this?

                          ~snip~

 Name one lie in the video. You can't because the only one lying is you.

lol if there is one lying here,surely its you and your video.

Like I have said. Name one lie in the video. It cannot be simpler.

[antikvark]

very strange if there is someone who hates bitcoin but still likes being in the bitcoin community, Your place should not be here, I'm sure almost every bitcoin holder already knows the benefits and risks when using bitcoin, maybe you are a person injured because of bankruptcy in bitcoin 

Yeah, that's really weird to find someone here, that he doesn't like bitcoin, I mean, if you just don't like it, then just stay away from this community, we don't need a negative impact about bitcoin, we already know the risk about using cryptocurrencies and we're aware about that all.

What's wrong with warning people about frauds? Especially people in a community that has most fraud victims?

[BitcoinsGreat]

In the below 6-minute video, it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

https://youtu.be/LlPwmW4XphE

I do not even waste by time clicking on this video or you want to get views by posting it here.

Bitcoin can never be killed and if you think it is a ponzi fraud than it is better you to leave from here and join a bank full of paper notes.  

[Artemis3]

The explanation on this video is totally BS! I think who created this video totally hate bitcoin because he only learned it lately and cannot afford to buy because its too valuable like gold, go and make another video entitled "fiat is fraud".

What's wrong with hating frauds? What's wrong with warning people about frauds? Especially people in a community that has most fraud victims?

Fiat currencies are fraud? Based on what have you concluded that? On corrupt governments abusing fiat monetary system? That's like saying that houses and cars are fraud because governments are destroying them in wars.

Fiat currencies are not fraud. They are actual market items that grant its holders the non-monetary repayments, which realises prior to every loan payment, as explained in the video. Cryptocurrencies on the other hand, are records (gift records/scheme membership records) that are falsely presented to the public as market items. For that reason they are fraud. This won't change by calling someone hater.

Since you pretend to be a "youtuber" that can't even bother to write your argument in plan text here but rather advertise an url hoping to increase views, Why don't you search in there for "fractional reserve banking"? You say fiat is not a fraud? You are in for a big shock. About 90% of fiat money doesn't exist.

But every satoshi is unique and accounted for, even if some will never move again, they are still there located in the blockchain for everyone to see.

You think printing fiat can buy all bitcoin? Just try it, you will only hyperinflate your fiat that way, while bitcoin remains still spread in many hands. You would cause a little pump at most, that will correct itself. So go ahead, convince a government to ruin their coin doing this.

So people are buying digital assets, just like online game items. But unlike online game assets each satoshi is unique. You can't just hack a database and make more appear out of thin air, its secured, more than fiat, where a gov can actually "print" as many as they want, just like you could spawn endless of the same item in a game if you are the admin.

Bitcoin is so useful, that its got its actual market price after 11 years of people like you insisting with the same lies. And yet, it exists, and people are still are trading their fiat for it.