Bitcoin Doesn’t Exist, Or How Satoshi Nakamoto Tells Lies To People

[Bitstar_coin]

Well thanks for the heads up, some of us will remember to keep that in mind while continue with our btc investment 
lol, i don't know why some people just chose to continuously waste their time on something they have no control of, if you think btc is just a big lie then do yourself a favor and don't invest, no need to write such a long and boring story. it is really pretty simple.

[Antithesis]

Simply, what you have in your wallet is quantity of a fictional or nonexistent thing.

It does exist, it's just intangible. There's a huge difference, if we replace your word with mine. Bitcoin is a digitally represented asset and it's being distributed as a “debt” to everyone using it. If someone gave me a digital signature saying that these units are now owned by BlackHatCoiner, it means that he just created a debt to me and it can be seen from what we call “block chain”, which is also a digital and hence, intangible chain.

Stating that Bitcoin doesn't exist should mean that Internet doesn't as well. But, being able to read this message thousands miles away is a clear proof that internet does exist. It's just intangible.

You should picture it in another way. Imagine a 3D printer printing tangible items called “bitcoins” every 10 minutes and whoever was near the machine could earn them. If some people (bitcoins' owners) started using these coins as a medium of exchange, you'd say that they do exist. What exactly would it change if instead of tangible items, we had a public ledger showing who owns what and that we knew that this ledger can't be censored or erased by anyone's will. It'd not make bitcoins non-existing, but rather intangible. And that's because that ledger wouldn't show an IOU, but a strong proof that you don't owe me anything. You paid me.

Then, you convince people of your creation being digital, because nowadays, calling something “digital” implies that it is new, innovative and revolutionary.

If anyone is convinced that Bitcoin can be used as a medium of exchange through the internet, then why not using it? No one forced you to believe that being a debtor in this system will be beneficial to you. The whole system relies on the belief that people will use that censorship-resistant ledger as a way to transact their value.

And due to the above, I answer to that too:

Or How Satoshi Nakamoto Tells Lies To People

Satoshi never forced anyone to use Bitcoin. Whoever found it useful, could consider it a medium of exchange. (S)He never lied to anyone.

With all that said, it is obvious why the whole Bitcoin scheme is a ticking bomb that can go off at any time.

Sure, it may still be an experiment, who knows what's waiting for us in the next decades. I personally doubt if it's a ticking bomb.


Anyway, nice post, even if I disagree to lots of your arguments. It's nice to see people expressing their opinions upon this digital era.

Quantity written on the medium is always intangible. You cannot for example touch quantity on paper bills or on deposit account. But quantity is not an asset. Quantity is just a number that expresses the amount of an asset. In blockchain you have the amount, but the asset that this amount is supposed to express is nonexistent. So, Bitcoin is NOT a digitally represented asset. Bitcoin is nonexistent asset. And therefore it cannot be distributed as a “debt”. Granted loans are being distributed as debt and the amount of that debt is expressed with the quantity on paper bills or banking accounts.

Regarding your example. A 3D printer printing tangible items called “bitcoins” every 10 minutes means that the items exist and thus, we can use quantity on some medium to express their amount. But in the current bitcoin scheme you only have quantity on the digital medium but not the items themselves. Neither tangible nor intangible. The items are fictional and as such they are called "bitcoins".

So, if instead of tangible items, we had a public ledger showing what address has what quantity, that means that there's nothing in the real world that has quantity expressed in the ledger. Wich makes the whole ledger just a giant storage of fake data.

[BlackHatCoiner]

Granted loans are being distributed as debt and the amount of that debt is expressed with the quantity on paper bills or banking accounts.

So, why not expressing the quantity of the granted loans to some block chain units?

Regarding your example. A 3D printer printing tangible items called “bitcoins” every 10 minutes means that the items exist and thus, we can use quantity on some medium to express their amount. But in the current bitcoin scheme you only have quantity on the digital medium but not the items themselves. Neither tangible nor intangible. The items are fictional and as such they are called "bitcoins".

I think you're making it more complicated than it should. In the above part of your reply, you're trying to convince me that an asset has to exist and be tangible, but who told you that Bitcoin is an asset? It's a protocol, a set of rules in which computers follow to achieve this censorship resistant and double-spending deterrent electronic payment system.

In a payment system, units are required. Satoshi chose to call them bitcoins. (S)He didn't create value out of thin air. Whoever wanted a payment system that followed this consensus scheme could join and be part of its distributed ledger.

It's nothing, but a ledger of debts.

[sapnu]

The existence of bitcoin is still a mystery, everyone still wants to know who is satoshi and what does he look like. Over the years, bitcoin was able to reach lots of achievements that doesn't seem possible for a simple digital currency to make. We should be proud of it and feel privileged considering that not everyone was given the chance to learn about it in their lifetime. All of these might be a lie, it is too good to be true but still bitcoin is one of the best thing that has ever happened in our lives and I will always be thankful for it.

[Luqman]

Bitcoin is created digitally and not for any physical form of Bitcoin itself. That is why it is like BTC doesn't exist. But in fact, there is Bitcoin.
For people who really care about BTC, this coin is likely volatile with the data and digitalization in the market. During this digital era, all cryptocurrencies are created and really can follow the development of technology. So far, I don't really mind about the only data and not for the physical

[Antithesis]

Granted loans are being distributed as debt and the amount of that debt is expressed with the quantity on paper bills or banking accounts.

So, why not expressing the quantity of the granted loans to some block chain units?

Regarding your example. A 3D printer printing tangible items called “bitcoins” every 10 minutes means that the items exist and thus, we can use quantity on some medium to express their amount. But in the current bitcoin scheme you only have quantity on the digital medium but not the items themselves. Neither tangible nor intangible. The items are fictional and as such they are called "bitcoins".

I think you're making it more complicated than it should. In the above part of your reply, you're trying to convince me that an asset has to exist and be tangible, but who told you that Bitcoin is an asset? It's a protocol, a set of rules in which computers follow to achieve this censorship resistant and double-spending deterrent electronic payment system.

In a payment system, units are required. Satoshi chose to call them bitcoins. (S)He didn't create value out of thin air. Whoever wanted a payment system that followed this consensus scheme could join and be part of its distributed ledger.

It's nothing, but a ledger of debts.

Everything you said is true. But bitcoin still doesn't exist. Because you can pretend it exists, you can imagine there is something behind the quantity and the name. For example. I can sell you a car which evaporated in an explosion and doesn't exist anymore. Because everything is done via paperwork. We simply imagine the car still exist and make the transfer. That car would still have quantity. It would still have properties in our heads, but not in the real world. The same is true with bitcoin. It has quantities and imagined properties but it doesn't exist in the real world.

Or let me explain it another way.

Imagine a friend saying to you: "You own 10 Ferraris and 50 luxury apartments in Hawaii." Of course, you don't own them, so you would probably laugh at such a statement. Now imagine an anonymous guy, let's call him Satoshi Nakamoto, saying to you: "you own a revolutionary digital asset, digital gold, money of the future." You would also probably laugh at such a statement because you know that you own nothing of a such. But, you see, millions and millions of people around the world believe Satoshi. They believe to own some revolutionary digital asset. And the only reason they believe it is because Satoshi told them so. They even spend enormous amounts of electricity to keep Satoshi's statements stored in database. And they even pay an enormous amount of money to transfer these statements from one name to another. Currently, we live in a time of a collective madness. Madness, in which an anonymous author wrote a computer program through which he is saying something to people. And people blindly believe him.

To better understand what's going on, let's go back to your friend. Imagine that your friend formally writes his statement into a database as data. First column in this database would contain owner's name, the second quantity of asset, and the third name of asset. So we would have something like this: "John Smith", "10", Ferrari. The second row in the database would be this: "John Smith", "50", Luxury apartment. So this is your friend's statement stored as data in a database. Now, would such transformation of verbal statement into data mean that you became the owner of Ferraris and apartments? That you magically became rich? Of course not. That would be ridiculous. Just because your friend stored his statement into a database as data, that doesn't make the statement true. It is still false. It still contains fake quantity data on the said assets. But in the current bitcoin madness, Satoshi's statements in the form of data, are considered true. And they are believed blindly. Namely, this anonymous guy, Satoshi Nakamoto, wrote a computer program through which he is saying to people, who performed a certain job, that they own a specific quantity of a revolutionary digital asset called Bitcoin. The job performed is the maintenance of a database that contains quantities of Bitcoin and virtual addresses of people who "own" Bitcoin. The database is called blockchain, while the maintainers are called miners. But now comes the fun fact: Bitcoin doesn't exist. The "revolutionary digital asset" is fictional. It is as fictional as the Ferraris and luxury apartments in the statement of your friend. And although we at least know what Ferraris or luxury apartments are, here we have some "revolutionary digital asset" but nobody even knows what this asset is. Nobody knows to what thing in the real world blockchain quantity data belongs. Only name was given to it: "Bitcoin". Generally speaking, quantity is defined as the amount of something, so here, "something" is Bitcoin. But besides the amount and address in the blockchain no asset exists anywhere that is in the ownership of address holders. And if one were to ask them where is the revolutionary digital asset, where is the thing that has quantity written next to their addresses, they wouldn’t be able to show it. That is because Bitcoin is fictional. It doesn’t exist. Their ownership of Bitcoin is imaginary the same as your ownership of Ferraris and apartments.

All that people are doing in the Satoshi's scheme, is sending and receiving quantities of fictional Bitcoins. And every such transfer is recorded in the blockchain. So the whole scheme, is as nonsensical as believing that just because your friend stored his statement into a database as data, that you now own Ferraris and apartments. And because you "own" them, you believe you are rich. How rich? Well if you scam a guy to whose name in a database you would transfer quantity data on two nonexistent luxury apartments, and he would pay you $1,000,000 for the transfer, then you would have (50-2)*$500.000 or 24 million dollars worth of "assets". This is how "rich" you would be. You would be "rich" because your friend made a fantasy statement and stored it into a database. This the essence behind Satoshi's scheme. People believe that they are rich, that they own some revolutionary digital asset, just because Satoshi’s computer program makes fantasy statements in the form of quantity data. That's the collective madness we currently live in. And because people have fall for this madness there is now the explosion of authors who create computer programs through which they make such fantasy statements. Only names given to nonexistent assets are different.

[davis196]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

[Obito]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I didn't read it but I feel like OP was just explaining about how bitcoin isn't real which is pretty stupid and obvious because bitcoin isn't real in a sense that you can touch it physically. Also, if OP is spreading FUD, I don't think that OP has succeeded because, no one in their right mind is going to waste their time reading that Great Wall of Text. And @davis196 is right OP, why worry about it? Let the people bask in the illusion.

[Kakmakr]

BTC is not created out of thin air. There is no one out there who will just pop out and print BTC to paste it into the blockchain. BTC is being mined using the devices solving hashes crunching numbers and consuming energy. How is that a lie when banks are already adopting it?

Well, you still could say it's a Ponzi but there is no one here that will ever think Satoshi can print more BTC just as the FED are doing which is a bigger Ponzi. It will always be 21M BTC ever.

Of course BTC is not created out of thin air given it's nonexistent. But quantity data on nonexistent BTC is created out of thin air. The fact the creating is done after POW is like writing letter on a piece of paper after one does hundred push-up, and then claim that the letter is not created out of thin air. It is. Letters and numbers are always created out of thin air. Regarding scarcity. Only existent things can be scarce. If you put a limit in an algorithm to 21 million this is just an arbitrary decision. You could have put it to 21 trillion. It doesn't matter. It's just numbers. And numbers can go to infinity. Numbers, that is, quantities have nothing to do with scarcity. And all you have in blockchain is quantities.

It is very obvious that you do not understand the basics about how consensus work and how that is applied to the decision making regarding the coin cap. You also do not understand the "value" of digital goods and services, so you will have a difficulty understanding why people are willing to pay "physical" fiat money for that.

The younger generation grew up with digital items and they know why people will pay thousands of Dollars for a limited edition Counter-Strike weapon or even just a skin for a weapon. This is also why eight "digital" lots sold for a combined $1.5 million on the gaming platform Axie Infinity.

Do you even know how difficult it was to implement "SegWit" and why there was a Bitcoin Cash fork? (Imagine trying to convince full nodes to increase the Bitcoin coincap) 

[ZOOOOM]

A lie has been told hundreds of times, and everyone will think it is true. I don’t reject this view. However, there are technical geeks and well-known economists, as well as celebrity-driven Bitcoin, but it is the consensus of the world. You are Unstoppable, when the trend comes, you can only follow it.

[Antithesis]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I don't "think", but I know Bitcoin doesn't exist. It is a fact it doesn't exist. You want it simple? Ok. In the blockchain you have quantity. Quantity is defined as the amount of something. If quantity in the blockchain is Bitcoin then it follows that Bitcoin is the quantity and quantity is Bitcoin. Which is nonsense because in that case Bitcoin would be defined as reference to itself: "Bitcoin is the amount of Bitcoin". And this is obviously nonsensical. So, if in the blockchain we have quantity then outside the blockchain there must be something called Bitcoin that has this quantity. But except quantities, address holders own nothing. Or simply put: Bitcoin doesn't exist.

[NotFuzzyWarm]

Frankly, I think the OP is fake and does not exist. After all, using their own circular reasoning their only 'proof of existence' is the bits & bytes stored here in the Forum. The OP could well be just a sophisticated AI conversation program such as talked about here being ran by some grad student as part of their thesis...

Also, their opening post is just a rehash of one that was put up a few days ago titled "Fun fact: Bitcoin doesn't exist, only fake quantity data" which was deleted by the mods. You might want to include the link to original article (which the other post had)...

[Nhazwrath]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I don't "think", but I know Bitcoin doesn't exist. It is a fact it doesn't exist. You want it simple? Ok. In the blockchain you have quantity. Quantity is defined as the amount of something. If quantity in the blockchain is Bitcoin then it follows that Bitcoin is the quantity and quantity is Bitcoin. Which is nonsense because in that case Bitcoin would be defined as reference to itself: "Bitcoin is the amount of Bitcoin". And this is obviously nonsensical. So, if in the blockchain we have quantity then outside the blockchain there must be something called Bitcoin that has this quantity. But except quantities, address holders own nothing. Or simply put: Bitcoin doesn't exist.

Are you sure you are 1 person Because you are not actually 1 person you are 37 trillion cells  therefore you cannot be one person that can refer to itself and count therefore you don't exist.  (no bitcoin isn't conscious)


See how fast I took your Silly argument apart?   Using your own Childish logic.   

You seem incapable of learning.  Your ability to use logic is poor.  Do you even exist or are you just a bot?  You keep repeating the same argument and still don't understand that Love doesn't exist either Or Time for that matter.  If you Are Human then you must either acknowledge that Love and Time do exist thus rendering all your Idiot posting null and void.

Or you are a bot and bots don't learn much or at all.

[Antithesis]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I don't "think", but I know Bitcoin doesn't exist. It is a fact it doesn't exist. You want it simple? Ok. In the blockchain you have quantity. Quantity is defined as the amount of something. If quantity in the blockchain is Bitcoin then it follows that Bitcoin is the quantity and quantity is Bitcoin. Which is nonsense because in that case Bitcoin would be defined as reference to itself: "Bitcoin is the amount of Bitcoin". And this is obviously nonsensical. So, if in the blockchain we have quantity then outside the blockchain there must be something called Bitcoin that has this quantity. But except quantities, address holders own nothing. Or simply put: Bitcoin doesn't exist.

Are you sure you are 1 person Because you are not actually 1 person you are 37 trillion cells  therefore you cannot be one person that can refer to itself and count therefore you don't exist.  (no bitcoin isn't conscious)


See how fast I took your Silly argument apart?   Using your own Childish logic.  

You seem incapable of learning.  Your ability to use logic is poor.  Do you even exist or are you just a bot?  You keep repeating the same argument and still don't understand that Love doesn't exist either Or Time for that matter.  If you Are Human then you must either acknowledge that Love and Time do exist thus rendering all your Idiot posting null and void.

Or you are a bot and bots don't learn much or at all.

If you remove me and leave only quantity, either 1 or 37 trillion what do you have? Well, you have number referred to nothing. That's quantity in the blockchain. Number referred to nothing. When you transfer quantity to your address you own xx pieces of nothingness. And that nothingness is called "bitcoin". Thanks for proving my point.

[Nhazwrath]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I don't "think", but I know Bitcoin doesn't exist. It is a fact it doesn't exist. You want it simple? Ok. In the blockchain you have quantity. Quantity is defined as the amount of something. If quantity in the blockchain is Bitcoin then it follows that Bitcoin is the quantity and quantity is Bitcoin. Which is nonsense because in that case Bitcoin would be defined as reference to itself: "Bitcoin is the amount of Bitcoin". And this is obviously nonsensical. So, if in the blockchain we have quantity then outside the blockchain there must be something called Bitcoin that has this quantity. But except quantities, address holders own nothing. Or simply put: Bitcoin doesn't exist.

Are you sure you are 1 person Because you are not actually 1 person you are 37 trillion cells  therefore you cannot be one person that can refer to itself and count therefore you don't exist.  (no bitcoin isn't conscious)


See how fast I took your Silly argument apart?   Using your own Childish logic.  

You seem incapable of learning.  Your ability to use logic is poor.  Do you even exist or are you just a bot?  You keep repeating the same argument and still don't understand that Love doesn't exist either Or Time for that matter.  If you Are Human then you must either acknowledge that Love and Time do exist thus rendering all your Idiot posting null and void.

Or you are a bot and bots don't learn much or at all.

If you remove me and leave only quantity, either 1 or 37 trillion what do you have? Well, you have number referred to nothing. That's quantity in the blockchain. Number referred to nothing. When you transfer quantity to your address you own xx pieces of nothingness. And that nothingness is called "bitcoin". Thanks for proving my point.

Do acknowledge the existence of time?   If the answer is yes then your argument is invalid. And if the answer is no that time does not exist then you cannot type anything to reply to this. That would violate the non-existence of time.   

[NotFuzzyWarm]

In the article they quoted in the top post (needs link to the original which is on a wordpress site), the OP posted:

As we can see, when people transfer data from one banking account to another, what they actually transfer is the ownership of debt. The quantity data itself only represents or quantifies the debt, and without debt, there wouldn’t be data. So in the case of banking accounts we have two things: digital data (quantities), and intangible asset (debt ownership). Debt ownership is the thing that actually exists. That’s why we call it an asset. Asset is something that exists.

Cryptocoins do the exact same thing - they are a record of holdings and debt against said holdings. Coins are transferred into and out of accounts holding them same as fiat is transferred into/out of bank accounts. Considering the global economy no longer pegs currency to any physical 'thing' -- historically a metal such as copper, silver or gold -- Fiat long ago became 'fake'. Fiat is now just numbers being shuffled around between accounts.

By omission (not saying that Fiat no longer based on a physical 'thing') regarding how the Fiat digital debt gets value, the OP says:

Well, they trade goods, services, or labor with the borrowers.

Guess what -- that applies equally to cryptocoins. Just to name a few merchants that accept BTC we have:
NewEgg
TigerDirect
FrozenCPU
Overstock.com and many many others. People can get paid for work using BTC if they choose. So, by the OP's own standards crypto is just as valid as Fiat.

[kaggie]

If you remove me and leave only quantity, either 1 or 37 trillion what do you have? Well, you have number referred to nothing. That's quantity in the blockchain. Number referred to nothing. When you transfer quantity to your address you own xx pieces of nothingness. And that nothingness is called "bitcoin". Thanks for proving my point.

You have a ship named Theseus.

At what point is a sand pile not a pile? One grain of sand? Two? Eight?

At what point are you no longer you? I'm sure there's some limit between 1 and 37 trillion, but I couldn't tell you what that limit is.

If we accept that two grains of sand are not a sand pile, then two grains of sand are nothing in sand pile terms. Also, you are nothing in the units of sand piles. But if I write my bitcoin address in sand piles, then it is that number of sand piles used, and therefore greater.

Saying bitcoin is nothing is like saying your passwords don't exist. If your passwords don't exist, then please post all of the passwords to all of your accounts here.

[Antithesis]

Do you need to write such a big wall of text in order to explain something that simple?
Sometimes I wonder if all those FUD accounts on the forum are just alt accounts to one person.
Why do you even care?If you are thinking that Bitcoin doesn't exist,then OK,just deal with it and move on with your life.This topic has been explained before.There's no reason for us to explain it again.
If you were scammed and you've lost your Bitcoins,just move on.I believe that most of the FUDsters in the BTC community are people,who lost money.That's why they are bitter about Bitcoin.

I don't "think", but I know Bitcoin doesn't exist. It is a fact it doesn't exist. You want it simple? Ok. In the blockchain you have quantity. Quantity is defined as the amount of something. If quantity in the blockchain is Bitcoin then it follows that Bitcoin is the quantity and quantity is Bitcoin. Which is nonsense because in that case Bitcoin would be defined as reference to itself: "Bitcoin is the amount of Bitcoin". And this is obviously nonsensical. So, if in the blockchain we have quantity then outside the blockchain there must be something called Bitcoin that has this quantity. But except quantities, address holders own nothing. Or simply put: Bitcoin doesn't exist.

Are you sure you are 1 person Because you are not actually 1 person you are 37 trillion cells  therefore you cannot be one person that can refer to itself and count therefore you don't exist.  (no bitcoin isn't conscious)


See how fast I took your Silly argument apart?   Using your own Childish logic.  

You seem incapable of learning.  Your ability to use logic is poor.  Do you even exist or are you just a bot?  You keep repeating the same argument and still don't understand that Love doesn't exist either Or Time for that matter.  If you Are Human then you must either acknowledge that Love and Time do exist thus rendering all your Idiot posting null and void.

Or you are a bot and bots don't learn much or at all.

If you remove me and leave only quantity, either 1 or 37 trillion what do you have? Well, you have number referred to nothing. That's quantity in the blockchain. Number referred to nothing. When you transfer quantity to your address you own xx pieces of nothingness. And that nothingness is called "bitcoin". Thanks for proving my point.

Do acknowledge the existence of time?   If the answer is yes then your argument is invalid. And if the answer is no that time does not exist then you cannot type anything to reply to this. That would violate the non-existence of time.   

You cannot refute an argument by talking nonsense. You refute it by proving that premises are false or that the conclusion doesn't follow from the premises.

[Antithesis]

In the article they quoted in the top post (needs link to the original which is on a wordpress site), the OP posted:

As we can see, when people transfer data from one banking account to another, what they actually transfer is the ownership of debt. The quantity data itself only represents or quantifies the debt, and without debt, there wouldn’t be data. So in the case of banking accounts we have two things: digital data (quantities), and intangible asset (debt ownership). Debt ownership is the thing that actually exists. That’s why we call it an asset. Asset is something that exists.

Cryptocoins do the exact same thing - they are a record of holdings and debt against said holdings. Coins are transferred into and out of accounts holding them same as fiat is transferred into/out of bank accounts. Considering the global economy no longer pegs currency to any physical 'thing' -- historically a metal such as copper, silver or gold -- Fiat long ago became 'fake'. Fiat is now just numbers being shuffled around between accounts.

By omission (not saying that Fiat no longer based on a physical 'thing') regarding how the Fiat digital debt gets value, the OP says:

Well, they trade goods, services, or labor with the borrowers.

Guess what -- that applies equally to cryptocoins. Just to name a few merchants that accept BTC we have:
NewEgg
TigerDirect
FrozenCPU
Overstock.com and many many others. People can get paid for work using BTC if they choose. So, by the OP's own standards crypto is just as valid as Fiat.

I've heard a hundred different definitions of Bitcoin. This one is new. So Bitcoin is now debt, like fiat. Well, I have a few questions for you then. Who's the debtor and who's the creditor? Fiat is claim of the banks (central or commercial) and they withdraw it from circulation with every loan repayment. Bitcoin is claim on who, and who withdraws it from circulation?

It seems that every person has their own definition of Bitcoin. That's understandable given that Bitcoin doesn't exist and everyone just uses their imagination to describe Bitcoin in whatever way that is convenient for them.

[zbig001]

You cannot prove that you have obtained the software license if the software vendor closes the business.

But you can always prove that you are in control of the funds on the Bitcoin ledger, if you do not lose your private key 

Even if no one in this world can confirm that he sent you these funds.