The Truth That Will Eventually Kill Bitcoin

[antikvark]

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.

I already explained why FIAT is not fraud. You ignored the explanation and just said that 90 percent of FIAT doesn't exist, which is nonsensical since FIAT is the liability of the banks and the right of its holder written in the balance sheets of the bank and granted prior to every loan payment.

Regarding the satoshis. This is just one of the two names (bitcoin is the other) for the blockchain records that confirm membership in Bitcoin scheme. When you give your electricity or some other market item as a gift, you are recorded with the numbers called bitcoins or satoshis. So people are not buying "assets" - asset is something that exists outside the record. People are buying membership stakes in a classical Ponzi or pyramid scheme.

[jameshugo17]

Bitcoin does not die. I don't know what such a video means. Because there can be many negative things about bitcoin. But bitocin still serves its purpose. An alternative value is trasnfer bitcoin. I think it makes sense to invest.

[Thekool1s]

I already explained why FIAT is not fraud.

FIAT's history suggests otherwise...

The Song Dynasty in China was the first to issue paper money, jiaozi, around the 10th century AD. Although the notes were valued at a certain exchange rate for gold, silver, or silk, conversion was never allowed in practice. The notes were initially to be redeemed after three years' service, to be replaced by new notes for a 3% service charge, but, as more of them were printed without notes being retired, inflation became evident. The government made several attempts to support the paper by demanding taxes partly in currency and making other laws, but the damage had been done, and the notes fell out of favor.

Looks like a daylight robbery to me... Steel from the poor. Keep the Rich in control...

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

See how he ignored ya? He is here to argue for argument's sake... More of a troll if you ask me...

[julius caesar]

In my honest opinion, if you yourself doesn't even like bitcoin, you should not be here anymore because this forum is all about bitcoin. Do not spread a fake information because people here might believe in you. You can just walk away if you do not have a good thing to say about bitcoin. Bitcoin is a Fiat and not a fraud.

[Getmon]

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

If you want to know the objective truth, you should not only watch a few videos on youtube, especially short videos which are highly subjective and one-sided. Such videos will not teach you something. And a fraud? Take a look around with more inquisitive eyes and you will know who is the fraud in our current system.

[Yamifoud]

I don't know if you have been paid by someone to curse crypto nor to think that you just have to cause FOMO or fraud here dragging noobs to catch your play. Because I'd never think that was supposed to happen in the future knowing the reality that we are in moving into crypto adoption.

[Asuspawer09]

In the below 5-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/0azLw8iPQZU

How many people are already rich with Bitcoin, How many people are having a hard time in economic life.
Bitcoin is the best solution for people today, you need to know that.

1. 5 People Who Became Rich Because of Bitcoin, And Their Stories.

I saw a new YouTube video made on January 10, 2020.



Bitcoin has evolved from 2009, very far from the ridiculous videos made, by irresponsible people.
It looks like you need to get to know Bitcoin even further in this Forum and also out there.
Bitcoin is currently the most trusted and honest in the whole world.

that's what you need to remember.

The youtube account looks suspicious and obviously doesn't have the credibility to make this kind of video about cryptocurrency or bitcoin.
I think he posts this video to gets view on youtube from the users here in the forum.

Also, the video doesn't explain anything, it doesn't have evidence of the claim that the bitcoin is a fraud or pyramiding scheme it just says that it is.
Bitcoin is digital cash so basically doesn't have a physical form but it does have its value in the market how could you explain Paypal and cards, which is also just a record or just what you called thin air.

[AniviaBtc]

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 

It's because they are looking for another opportunity to ruin bitcoin's reputation, they are thinking how they can change people's perspective. They don't understand that despite of that people are still into bitcoin because of it's capabilities and potentialities to change their life into something better, they underestimate it without even looking on people's experiences on it which is great and amazing. People these days should open their eyes and minds that people judge something they can't even reach, they hate something they can't have and we have to accept and respect it. We can't avoid the risk because it's part of our journey and sometimes our decision never turns out great but our differences between those kind of people is that we never let it as a hindrance to achieve our goals. Also, people mistake bitcoin as fraud because it was being used to deceive people and into other illegal activities, they don't analyze the difference between the two.

They don't know the full potential of bitcoin to become the best digital currency that can help us in everyday lives and in the future. We should become open-minded about the things that can bring changes and improvements in our lives. I just don't get that they judge bitcoin without having or even using it in the first place. But we have nothing to do about them, we just need to promote bitcoin for other people to become interested too.

[The Geoma DAO]

Nice try with this video.It essentially shows that people should adopt Bitcoin.So Mary can give the apples to Peter for Bitcoin and then get some shares with her Bitcoin to multiply her Bitcoins leaving the Dollar multiplier through loans on the sidewalk.You should inform yourself better what the Dollar is these days and what Bitcoin really represents.If you are a Dollar believer or a believer in any FIAT money that is your choice.As it is our choice to believe in decentralised money.Time will tell.The next recession/depression is around the corner.But if you want to stick around here try to get some education.There are a lot of good posts regarding this topic.What money represents, what a FIAT money system is, how banks work, what fractional reserve lending is.

[leyton11]

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

actually, we are in a decentralized and illegal market. so we can do anything we can make a profit. People who say that bitcoin is a scam, they can never make money from bitcoin because they are afraid that they will be scammed. As for me, I think bitcoin is a scam but this scam will not cost us money, it will make us more money if we find a good opportunity to buy bitcoin. Those who understand bitcoin will make money from it through smart trading, so the important thing is how smart we are to make money, in terms of meaning, it no longer matters.

[cryiotic]

Yes, perhaps this is partially true. But, it seems to me that the author of the video hates bitcoin too much - he is wrong in this. Because fiat money is not an alternative, it is even worse. We chose Bitcoin because we understand what we are doing and what we want.

[imstillthebest]

Yes, perhaps this is partially true. But, it seems to me that the author of the video hates bitcoin too much - he is wrong in this.

true but wrong ? if he hates bitcoin that much then he will said bad things to it , so i also think that he is wrong . not only this guy but many btc haters on the past make false statement about btc .

Because fiat money is not an alternative, it is even worse. We chose Bitcoin because we understand what we are doing and what we want.

fiat money is an alternative yes if you use other medium of exchange the most but for a common person we mainly use a fiat so fiat money is not an alternative currency to us but bitcoin and crypto is . its true people use btc because btc is more flexible to use than fiat

[bounceback]

it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

I think a person like this is just a fool who doesn't know much about bitcoin but he considers himself an intelligent person so he makes videos like this to drop bitcoin into the public, but I'm sure everyone in this forum doesn't easily believe such nonsense because we knowing well about bitcoin and bitcoin has changed our finances into more privacy.

[Wysi]

Hey either the person who made this video missed out to invest into bitcoin when it was few hundred dollars assuming it's scam and now making this video out of jealousy or else he might have invested at the peak of bull run post which he is yet to get his returns and made this video out of frustration. Kindly ignore this videos.

[Tary12]

from what I see bitcoin is very useful in my opinion, but many also do not like bitcoin

[NotATether]

The video seems to have been taken down. Perhaps it was disinformation, because it has been proven a long time ago that you can make an asset valuable just by buying and selling it. Just like how people discovered platinum and oil and started trading with those. It's just that in bitcoin's case, it's monetary properties are mathematical instead of physical. It's not like I can make fake bitcoins and undermine it's value.

[Zeke_23]

Hey either the person who made this video missed out to invest into bitcoin when it was few hundred dollars assuming it's scam and now making this video out of jealousy or else he might have invested at the peak of bull run post which he is yet to get his returns and made this video out of frustration. Kindly ignore this videos.

It seems like that or maybe the creator of this video is a hater of bitcoin to begin with. I don't know if this is due to trust issues or some major issue that puts him into that state and give him the courage to create this video.

[Astvile]

Will kill? Do you think you are the first person who is saying that thing? Do you think that that video is the first video saying bitcoin is a fraud? NO! there are tons of them both videos and articles but did it kill bitcoin? NO too they just helped in spreading bitcoin awareness. I get it that you hate bitcoin but stating that it will eventually kill is a no-no for me, some of older videos existed for years how long till it "eventually kill" bitcoin.

[Soots]

it is explained why Bitcoin is a fraud where a gift record is falsely presented to the public as a market item.

I think a person like this is just a fool who doesn't know much about bitcoin but he considers himself an intelligent person so he makes videos like this to drop bitcoin into the public, but I'm sure everyone in this forum doesn't easily believe such nonsense because we knowing well about bitcoin and bitcoin has changed our finances into more privacy.

Nobody stops us from sharing every ideas that we're having for bitcoin, but sharing offensive and generative acts stating against bitcoin was totally a devastating thoughts. I considered him as a FUD maker who just fooled out to something that deceived a lot of people. Hopefully, it won't affect to those innocent for cryptocurrency because I felt that the effect is really a disease.

[Ridwan Fauzi]

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

Just 30 persons who have watched the video and there is no one who subscribe the channel, so I don't believe at all.

And I believe this kind person who just spread bad news about bitcoin because he hasn't knew bitcoin as a whole and I'm sure he hasn't got anything from bitcoin. Most likely, he just person who know bitcoin on the internet and never try to find more about it. Simply will just like this, I'll believe if there is anyone who tell that bitcoin is fraud or scam if he has tried to own bitcoin, but there is no one. But I'll believe if there is someone who has got a lot of money from bitcoin because there are many proof about it.