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Author Topic: How Satoshi Nakamoto Fooled the World  (Read 8875 times)
Snowshow (OP)
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June 06, 2022, 02:17:03 PM
 #521

are people able to benefit from a system or a product without selling its units to new investors?

I am not sure if this is really a universal test to be honest. For practical goods this of course works. If there is no intrinsic value in a good itself than people don't need it and shouldn't be buying it. But this doesn't hold true for commodities or currencies. Let's say you buy a basket of precious metals including gold and silver, then everybody would agree it's really valuable. For ourselves the intrinsic value would be 0, we can't eat the metals or do something useful with it. The whole value for the commodity basket comes from what other people would pay for it. Same goes for some emerging market currencies that investors buy only with the goal to sell them for more money in the future. The value itself for us 0 because we can't use that money in the shop. As long as other people are accepting the currencies or commodities and exchange them for other goods they are valuable and not a scam, same goes for crypto currencies.
What do you mean by accepting currency or commodity. Currency (fiat) is unit of debt. Commodity is intrinsic value. "Accepting" those in a trade means valuating whether a thing you are going to give up in a trade is approximately valuable to units of debt or to intrinsic value in a commodity. But how do you determine whether a thing that you are going to give up in a trade is approximately valuable to the units of crypto that someone offers in the market? What exactly do you valuate if crypto unit is not debt, not intrinsically valuable, not capital, not productive, nothing. So, what do people "accept"?
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
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June 06, 2022, 02:40:15 PM
Merited by vapourminer (1), NotATether (1)
 #522

the question has been answered.

just like any product/asset. if the seller you bought the asset/product from offers a satisfaction returns policy then yes you can get your investment back.

any product/asset never comes with an after sales satisfaction policy as standard. its up to the seller you bought it from to decide if they wish to offer a returns policy for a full refund.

its got nothing to do with the product, its the seller that decides.

so the answer is simple. find someone who is selling bitcoin that will offer a returns policy that meets your preferences.

bitcoin is not a central company or a 'system' where you pay "the system". you are always paying a person that owns the coins. so have a chat with that person before buying bitcoin.

again for emphasis. i personally have sold bitcoin to people i know and if they changed their mind i happily accept the coins back and give them a refund of the original purchase price.

so again YES it is possible to get your money back.. but like all products/assets. it all depends on who you buy the product/asset from

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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June 06, 2022, 03:01:43 PM
Merited by JayJuanGee (1)
 #523

I have a single question for you: can someone return their investment in the bitcoin system without funds contributed by new investors? No one cares about your philosophy about banks. Just answer my simple question.

No.

No one is interested in your irrelevant questions. My question is simple, relevant and concerned with the theme of this topic. You currently have the whole army of bitcoin holders who invested in the units of the bitcoin system. Can anyone return their investments without new investors? Answer the question.

Yes.

And before you think: "Oh wait a minute, if you sell your coins to someone, like an exchange, it's going to be owned by somebody" the person who now owns the coins can always burn them (by sending them to a lost address) and the buyer is left with cash.

That means the seller is functioning as a bank and allowing true (from your point of view) withdrawals. In fact, this is directly related to the topic of this thread, because it answers the question posed by you in the topic of the thread.

So you're unable to answer the question.

Well I did. It's your choice whether you want to believe what we are telling you or not.

Quote
Nice. That's because you know bitcoin is a scam.

It is not.

Quote
People are trading the units of a system that's completely worthless, and of course they are forced to wait for someone to save them out of that units.

At any time they want, they can simply give the "worthless coins" to the exchange (you know, the bank) which then issues them with real cash and burns the coins.

Just put this sentence inside your head and keep repeating it to yourself, it will eventually come true.

Quote
It's reality funny how pathetic you people are trying to defend the scam.

That's "It's really pathetic how you people are trying to defend the scam". If you are going to lecture people about economics, you had better use correct grammar, otherwise people are going to think that you are some 12-year-old pasting statements from a book.

.
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franky1
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June 06, 2022, 03:12:44 PM
 #524

im still waiting for him to cry when he buys TESLA shares, and when the price declines he realises that he cant just give the shares back and get a full refund(like he pretends he thinks happens). and then cries more that shares and tesla is a scam..  ... because he has no clue about investments, economics or how exchanges and trade work

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Snowshow (OP)
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June 06, 2022, 03:48:56 PM
 #525

Yes you can return your investments from Bitcoin without new investors, if you’re financially literate. Example: You could set up a trust fund with Bitcoin and Dollars in it and pull out your profits from time to time, and the trust’s value wouldn’t be lower than when you started it.
In that case the entity behind the trust fund is a new investor. Try again. Let's me help you. In a banking system you hold units of debt and you benefit when the debt is paid. So, no new investor needed. In a product, you hold intrinsic value and you benefit by satisfying your needs with that value. Again, no new investor needed. In a company you hold shares in capital. Capital produces intrinsic value or is itself intrinsic value, which you also can use for satisfying your needs. So again, no new investor needed. In the bitcoin system you hold units of that system, and the only thing this system does is store record about its own units. Hence, a system that exists for its own sake. How do you benefit from this without new investors?
Snowshow (OP)
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June 06, 2022, 03:57:44 PM
 #526

the question has been answered.

just like any product/asset. if the seller you bought the asset/product from offers a satisfaction returns policy then yes you can get your investment back.

any product/asset never comes with an after sales satisfaction policy as standard. its up to the seller you bought it from to decide if they wish to offer a returns policy for a full refund.

its got nothing to do with the product, its the seller that decides.

so the answer is simple. find someone who is selling bitcoin that will offer a returns policy that meets your preferences.

bitcoin is not a central company or a 'system' where you pay "the system". you are always paying a person that owns the coins. so have a chat with that person before buying bitcoin.

again for emphasis. i personally have sold bitcoin to people i know and if they changed their mind i happily accept the coins back and give them a refund of the original purchase price.

so again YES it is possible to get your money back.. but like all products/assets. it all depends on who you buy the product/asset from
Do you just pretend to be stupid or are you really that dumb? Can you tell the difference between a product and a system? Bitcoin, dollar, company's share are not products like cars or bikes, but units in a system. In a system you invest, and then that system must be able to return the investment in the future to the unit holder. So, try again.
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June 06, 2022, 04:09:02 PM
 #527

I have a single question for you: can someone return their investment in the bitcoin system without funds contributed by new investors? No one cares about your philosophy about banks. Just answer my simple question.

No.

No one is interested in your irrelevant questions. My question is simple, relevant and concerned with the theme of this topic. You currently have the whole army of bitcoin holders who invested in the units of the bitcoin system. Can anyone return their investments without new investors? Answer the question.

Yes.

And before you think: "Oh wait a minute, if you sell your coins to someone, like an exchange, it's going to be owned by somebody" the person who now owns the coins can always burn them (by sending them to a lost address) and the buyer is left with cash.

That means the seller is functioning as a bank and allowing true (from your point of view) withdrawals. In fact, this is directly related to the topic of this thread, because it answers the question posed by you in the topic of the thread.

So you're unable to answer the question.

Well I did. It's your choice whether you want to believe what we are telling you or not.

Quote
Nice. That's because you know bitcoin is a scam.

It is not.

Quote
People are trading the units of a system that's completely worthless, and of course they are forced to wait for someone to save them out of that units.

At any time they want, they can simply give the "worthless coins" to the exchange (you know, the bank) which then issues them with real cash and burns the coins.

Just put this sentence inside your head and keep repeating it to yourself, it will eventually come true.

Quote
It's reality funny how pathetic you people are trying to defend the scam.

That's "It's really pathetic how you people are trying to defend the scam". If you are going to lecture people about economics, you had better use correct grammar, otherwise people are going to think that you are some 12-year-old pasting statements from a book.

So basically, the exchange is a new investor. There you go: you just proved that no one can return their investment from the bitcoin system. This makes that system a scam. The system is worthless and used just as a bait to get people in, who then need new investors to get out.
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June 06, 2022, 06:21:14 PM
 #528

Do you just pretend to be stupid or are you really that dumb? Can you tell the difference between a product and a system? Bitcoin, dollar, company's share are not products like cars or bikes, but units in a system. In a system you invest, and then that system must be able to return the investment in the future to the unit holder. So, try again.

talking to yourself.. i first asked you to choose which you are talking about because you cant seem to tell the difference

YOU are the one that flip flops and changes your mind about if bitcoin is a unit of account IN a system or the system itself.

using your own latest words: "units IN a system".. you are not buying "the system" you are buying units/assets within the system.

EG when a factory (steel building, no brain) creates a product. the factory(steel building) cant offer refunds of the product. instead you have to seek out a HUMAN that has sold you the product made in the factory.. yep . a steel building did not sell you a product.
a steel building has no eyes or brain to create terms/conditions/contracts. a steel building cannot make offers of sale/swap/exchange/refund

its like gold at fort knox. buying gold in fort knox is not the same as buying the building of fort knox.

when you are buying bitcoin. you are buying units of account within the network. you are not buying the network. you are buying units from other people. so you need to speak to that seller.
the network has no eyes, brain or hand to offer you anything and the network did not take your money when you bought bitcoin

you are not buying from "the system" just like you are not buying TESLA shares from tesla..
you are buying share OF TESLA but tesla does not have a refund policy.
you instead buy shares from nasdaq or a different trading platform (where your investment came from)..

you cant just turn up at tesla HQ and say "gimme refund"
you cant knock on elons door and say "gimme refund"

instead you have to look at the contract terms of your account with nasdaq/other trading platform you bought shares from, to see if nasdaq/other platform has a returns policy of shares

much like tesla released its shares to nasdaq and people buy shares from nasdaq, you would have to check the terms and conditions of nasdaq.
if nasdaq sold shares to another trading platform and you bought shares from the other trading platform you need to check the terms/polcies of that other platform.

again you cant just run upto elon and demand a refund from him as thats not how shares work

you need to check with who you bought btc/shares/asset/product from to see what their terms are for returns

what you buy is a unit of measure. you are not buying the network. you are buying a unit of account within the network. which have terms attached.

EG some shares are asset based or property based. some shares are "advisory". you need to learn these basic concepts if you really want to have any form of proper debate about them

so again and for the last time.
if you are thinking of buying bitcoin. check who you are buying it from and ask of they will offer a satisfaction returns policy.

if you are thinking of buying shares. read the account(nasdaq/your trading platform) terms and conditions.
but ill give you a little hint. share trading platforms including nasdaq do not have a satisfaction returns policy or offer refunds of 100% of purchase value

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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June 06, 2022, 06:25:11 PM
 #529

Yes you can return your investments from Bitcoin without new investors, if you’re financially literate. Example: You could set up a trust fund with Bitcoin and Dollars in it and pull out your profits from time to time, and the trust’s value wouldn’t be lower than when you started it.
In that case the entity behind the trust fund is a new investor. Try again. Let's me help you. In a banking system you hold units of debt and you benefit when the debt is paid. So, no new investor needed. In a product, you hold intrinsic value and you benefit by satisfying your needs with that value. Again, no new investor needed. In a company you hold shares in capital. Capital produces intrinsic value or is itself intrinsic value, which you also can use for satisfying your needs. So again, no new investor needed. In the bitcoin system you hold units of that system, and the only thing this system does is store record about its own units. Hence, a system that exists for its own sake. How do you benefit from this without new investors?

Nice try, but one entity can be grantor and beneficiary at the same time. Yet no Bitcoin sold, no loss on the balance sheet and more fiat cashed out. That’s actually how El Salvador handles their Bitcoin and it’s a really smart design. You got proven wrong.

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June 06, 2022, 06:32:17 PM
Merited by tadamichi (1)
 #530

if you are unsure you want to keep your BTC purchase.
you can set up a policy with an escrow service where they create a multisig where they control the fiat and btc transactions. so that if you change your mind the escrow service sends the BTC back to the original owner and sends the fiat back to you.

there are many escrow services around.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Snowshow (OP)
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June 06, 2022, 08:16:07 PM
 #531

Do you just pretend to be stupid or are you really that dumb? Can you tell the difference between a product and a system? Bitcoin, dollar, company's share are not products like cars or bikes, but units in a system. In a system you invest, and then that system must be able to return the investment in the future to the unit holder. So, try again.

talking to yourself.. i first asked you to choose which you are talking about because you cant seem to tell the difference

YOU are the one that flip flops and changes your mind about if bitcoin is a unit of account IN a system or the system itself.

using your own latest words: "units IN a system".. you are not buying "the system" you are buying units/assets within the system.

EG when a factory (steel building, no brain) creates a product. the factory(steel building) cant offer refunds of the product. instead you have to seek out a HUMAN that has sold you the product made in the factory.. yep . a steel building did not sell you a product.
a steel building has no eyes or brain to create terms/conditions/contracts. a steel building cannot make offers of sale/swap/exchange/refund

its like gold at fort knox. buying gold in fort knox is not the same as buying the building of fort knox.

when you are buying bitcoin. you are buying units of account within the network. you are not buying the network. you are buying units from other people. so you need to speak to that seller.
the network has no eyes, brain or hand to offer you anything and the network did not take your money when you bought bitcoin

you are not buying from "the system" just like you are not buying TESLA shares from tesla..
you are buying share OF TESLA but tesla does not have a refund policy.
you instead buy shares from nasdaq or a different trading platform (where your investment came from)..

you cant just turn up at tesla HQ and say "gimme refund"
you cant knock on elons door and say "gimme refund"

instead you have to look at the contract terms of your account with nasdaq/other trading platform you bought shares from, to see if nasdaq/other platform has a returns policy of shares

much like tesla released its shares to nasdaq and people buy shares from nasdaq, you would have to check the terms and conditions of nasdaq.
if nasdaq sold shares to another trading platform and you bought shares from the other trading platform you need to check the terms/polcies of that other platform.

again you cant just run upto elon and demand a refund from him as thats not how shares work

you need to check with who you bought btc/shares/asset/product from to see what their terms are for returns

what you buy is a unit of measure. you are not buying the network. you are buying a unit of account within the network. which have terms attached.

EG some shares are asset based or property based. some shares are "advisory". you need to learn these basic concepts if you really want to have any form of proper debate about them

so again and for the last time.
if you are thinking of buying bitcoin. check who you are buying it from and ask of they will offer a satisfaction returns policy.

if you are thinking of buying shares. read the account(nasdaq/your trading platform) terms and conditions.
but ill give you a little hint. share trading platforms including nasdaq do not have a satisfaction returns policy or offer refunds of 100% of purchase value

You still haven't answered my question. You just write irrelevant things.
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June 06, 2022, 08:28:06 PM
 #532

Yes you can return your investments from Bitcoin without new investors, if you’re financially literate. Example: You could set up a trust fund with Bitcoin and Dollars in it and pull out your profits from time to time, and the trust’s value wouldn’t be lower than when you started it.
In that case the entity behind the trust fund is a new investor. Try again. Let's me help you. In a banking system you hold units of debt and you benefit when the debt is paid. So, no new investor needed. In a product, you hold intrinsic value and you benefit by satisfying your needs with that value. Again, no new investor needed. In a company you hold shares in capital. Capital produces intrinsic value or is itself intrinsic value, which you also can use for satisfying your needs. So again, no new investor needed. In the bitcoin system you hold units of that system, and the only thing this system does is store record about its own units. Hence, a system that exists for its own sake. How do you benefit from this without new investors?

Nice try, but one entity can be grantor and beneficiary at the same time. Yet no Bitcoin sold, no loss on the balance sheet and more fiat cashed out. That’s actually how El Salvador handles their Bitcoin and it’s a really smart design. You got proven wrong.

That entity is an investor in the bitcoin system. I am asking how anyone can benefit from the units of that system without new investors. I know that it's impossible to benefit, but I am having fun watching how pathetic you can become in defending this obvious scam.
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June 06, 2022, 08:32:21 PM
Last edit: June 06, 2022, 08:51:15 PM by franky1
 #533

you need to first understand things before you can understand the answers given

your question:
"Can anyone return their investments without new investors? Answer the question."

answer: YES "anyone" that bought from me have gotten a refund if they wanted one.

debate over. have a nice day

...
now the question has been answered(repeatedly)
i want you to buy 2 tesla shares.. wait for the price to drop a bit and then try to get a refund of your shares without involving another investor....  learn something
learn how actual markets, investments shares/assets and trades actually work in the real world by you actually buying some

what you will learn:

you are never buying coins/assets/shares from "the system" nor are you buying "the system". you are buying units of account of/in a system from a seller


where its the seller that you are buying from that decides if they wish to offer anything after the sale

returns policy is not set by "the system" its set by the sellers decision of the terms they choose to add when they sell, as an after sales service. this applies to everything from shares to products or assets.
its not a fault of any financial system. its the discretion of the seller to offer any after sales services/policy.. this is true for all coins/assets/shares/products

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Snowshow (OP)
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June 06, 2022, 09:03:00 PM
 #534

you need to first understand things before you can understand the answers given

your question:
"Can anyone return their investments without new investors? Answer the question."

answer: YES "anyone" that bought from me have gotten a refund if they wanted one.

debate over. have a nice day

...
now the question has been answered(repeatedly)
i want you to buy 2 tesla shares.. wait for the price to drop a bit and then try to get a refund of your shares without involving another investor....  learn something
learn how actual markets, investments shares/assets and trades actually work in the real world by you actually buying some

what you will learn:

you are never buying coins/assets/shares from "the system" nor are you buying "the system". you are buying units of account of/in a system from a seller


where its the seller that you are buying from that decides if they wish to offer anything after the sale

returns policy is not set by "the system" its set by the sellers decision of the terms they choose to add when they sell, as an after sales service. this applies to everything from shares to products or assets.
its not a fault of any financial system. its the discretion of the seller to offer any after sales services/policy.. this is true for all coins/assets/shares/products

I admit, you make me laugh the most. Anyone that bought from you is a new investor. They are not the the part of bitcoin system. The system issued bitcoin, so you must benefit from within that system. Which is of course impossible, given the system has no capital like companies or collaterals and borrowers like banking system. Nor is bitcon a product that you can use for satisfying your needs. But like I said, I am having fun watching your answers.
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June 07, 2022, 05:27:38 AM
Last edit: June 07, 2022, 06:01:04 AM by franky1
 #535

I admit, you make me laugh the most. Anyone that bought from you is a new investor. They are not the the part of bitcoin system.
firstly you failed to define your "anyone".
you did not say "everyone". nor did you use a scenario of it having to be me specifically. so "anyone" can be anyone.

in my experience. those "anyones" that bought from me were not new investors outside of the system they were people already in the bitcoin community that found me and during conversations about bitcoin they wanted to buy more.. so they were not new investors.

the reasons why the scenario happened was that they were under the delusions of the hype propaganda of "get rich quick" "double your money in x months". which i tried to correct them about, and tried to explain that its not a get rich quick scheme, and instead a slow progressive deflationary hedge against inflation. i felt sorry for them, thinking that they were not prepared for the long haul. and so i offered them an refund if they changed their mind in the short term. knowing they were dreaming of getting returns only X months.
(so i atleast secured their dream of atleast breaking even in that said short term)

that was my decision. and "bitcoin" is not some sentient AI that makes those decisions. just like a share certificate is not a sentient AI that decides its terms and conditions of who gets to trade shares


I admit, you make me laugh the most. Anyone that bought from you is a new investor. They are not the the part of bitcoin system. The system issued bitcoin, so you must benefit from within that system. Which is of course impossible, given the system has no capital like companies or collaterals and borrowers like banking system. Nor is bitcoin a product that you can use for satisfying your needs. But like I said, I am having fun watching your answers.

the system did not issue bitcoin. the system stores/logs bitcoins issued by PEOPLE that mine it.
if there are no people mining bitcoin there are no bitcoins.

bitcoin is not some 'perpetual motion machine' that self runs, it relies on peoples time and work effort.. and people value their time, work effort and costs... and thats what they decide to sell their units of measure they acquire from their time.effort and costs.

bitcoin does not mine itself. bitcoin does not sell coins or issue coins itself. its people

people write code to collate transactions into a block. people design and create miners to then hash the collated blocks. and people then decide who to distribute the coin rewards of those blocks.

the system of bitcoin is not some intelligent AI that self determines who deserves what. bitcoin system does not determine its own price nor does it decide who to sell to.. PEOPLE DO

once you learn what bitcoin is and how it works. then and only then will it make sense to you. and that is where your assertions fail..
your failure is thinking the bitcoin system is some sentient AI

..
as for your silly mantra about banks notes and loans and borrowers. i distinctly remember educating you on your previous account name, that you having a bank note does not gain you more value from borrowers. you get no interest increase in value from holding a bank note. again infact and for emphasis the longer you hold a bank note the less value it has, because all that 'money creation' via 'loans' dilutes the value of circulation..

yep loans cause less value.
why?
simple.
loans are not created due to 'borrowing'.
a bank does not take funds out of one account to give to someone else.
a bank literally creates new money when a loan agreement is created. and gives new money to the person requesting it. with terms that the person has to give the amount back to the BANK plus x%.

people taking loans are not repaying bank customers holding bank notes.
you think that people taking loans do pay those holding bank notes.. again thats another flaw of your misunderstanding of how financial systems work

please. dont waste another year creating another account just to start again with your delusions on repeat. instead break the cycle and spend the time learning how actual economics works.

so go research. and then come back in a few months. with a fresh mindset after doing some research. with a new prospective of economics. and then we can have a more rational debate based on facts, not your delusions.

yep. please go do some research because you have wasted a year on 4 accounts saying the same thing based on your unresearched mis-understanding of economics. and as soon as you get debunked. you simply created another account and started again pretending the debate never happened and pretending you never got corrected.. break the cycle, learn something.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Snowshow (OP)
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June 07, 2022, 08:07:10 AM
 #536

I admit, you make me laugh the most. Anyone that bought from you is a new investor. They are not the the part of bitcoin system.
firstly you failed to define your "anyone".
you did not say "everyone". nor did you use a scenario of it having to be me specifically. so "anyone" can be anyone.

in my experience. those "anyones" that bought from me were not new investors outside of the system they were people already in the bitcoin community that found me and during conversations about bitcoin they wanted to buy more.. so they were not new investors.

the reasons why the scenario happened was that they were under the delusions of the hype propaganda of "get rich quick" "double your money in x months". which i tried to correct them about, and tried to explain that its not a get rich quick scheme, and instead a slow progressive deflationary hedge against inflation. i felt sorry for them, thinking that they were not prepared for the long haul. and so i offered them an refund if they changed their mind in the short term. knowing they were dreaming of getting returns only X months.
(so i atleast secured their dream of atleast breaking even in that said short term)

that was my decision. and "bitcoin" is not some sentient AI that makes those decisions. just like a share certificate is not a sentient AI that decides its terms and conditions of who gets to trade shares


I admit, you make me laugh the most. Anyone that bought from you is a new investor. They are not the the part of bitcoin system. The system issued bitcoin, so you must benefit from within that system. Which is of course impossible, given the system has no capital like companies or collaterals and borrowers like banking system. Nor is bitcoin a product that you can use for satisfying your needs. But like I said, I am having fun watching your answers.

the system did not issue bitcoin. the system stores/logs bitcoins issued by PEOPLE that mine it.
if there are no people mining bitcoin there are no bitcoins.

bitcoin is not some 'perpetual motion machine' that self runs, it relies on peoples time and work effort.. and people value their time, work effort and costs... and thats what they decide to sell their units of measure they acquire from their time.effort and costs.

bitcoin does not mine itself. bitcoin does not sell coins or issue coins itself. its people

people write code to collate transactions into a block. people design and create miners to then hash the collated blocks. and people then decide who to distribute the coin rewards of those blocks.

the system of bitcoin is not some intelligent AI that self determines who deserves what. bitcoin system does not determine its own price nor does it decide who to sell to.. PEOPLE DO

once you learn what bitcoin is and how it works. then and only then will it make sense to you. and that is where your assertions fail..
your failure is thinking the bitcoin system is some sentient AI

..
as for your silly mantra about banks notes and loans and borrowers. i distinctly remember educating you on your previous account name, that you having a bank note does not gain you more value from borrowers. you get no interest increase in value from holding a bank note. again infact and for emphasis the longer you hold a bank note the less value it has, because all that 'money creation' via 'loans' dilutes the value of circulation..

yep loans cause less value.
why?
simple.
loans are not created due to 'borrowing'.
a bank does not take funds out of one account to give to someone else.
a bank literally creates new money when a loan agreement is created. and gives new money to the person requesting it. with terms that the person has to give the amount back to the BANK plus x%.

people taking loans are not repaying bank customers holding bank notes.
you think that people taking loans do pay those holding bank notes.. again thats another flaw of your misunderstanding of how financial systems work

please. dont waste another year creating another account just to start again with your delusions on repeat. instead break the cycle and spend the time learning how actual economics works.

so go research. and then come back in a few months. with a fresh mindset after doing some research. with a new prospective of economics. and then we can have a more rational debate based on facts, not your delusions.

yep. please go do some research because you have wasted a year on 4 accounts saying the same thing based on your unresearched mis-understanding of economics. and as soon as you get debunked. you simply created another account and started again pretending the debate never happened and pretending you never got corrected.. break the cycle, learn something.

I edited the OP, AGAIN, just for you. If you don't get it now, then you're a lost case.
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June 10, 2022, 07:16:59 AM
 #537

Bitcoin is the best asset in terms of market cap and return. People have made really good money with bitcoin. Bitcoin is based on blockchain which is the future of the internet and it is absolutely not a myth.
Snowshow (OP)
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June 10, 2022, 07:49:29 AM
 #538

Bitcoin is the best asset in terms of market cap and return. People have made really good money with bitcoin. Bitcoin is based on blockchain which is the future of the internet and it is absolutely not a myth.
Bitcoin is not an asset, but a unit in a system that has zero assets to benefit the unit holders which is why they are forced to dump their worthless units to new investors like in all investment scams. And sure, scams can have huge market cap and return.
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June 10, 2022, 08:35:31 AM
 #539

Bitcoin is the best asset in terms of market cap and return. People have made really good money with bitcoin. Bitcoin is based on blockchain which is the future of the internet and it is absolutely not a myth.
Bitcoin is not an asset, but a unit in a system that has zero assets to benefit the unit holders which is why they are forced to dump their worthless units to new investors like in all investment scams. And sure, scams can have huge market cap and return.

From what I read in this thread it looks like you invested in BTC all your money when it was around $70k, and then cashed out recently fearing it's going to zero. Well, you shouldn't have done both, imo. Also, coming here and telling people that Bitcoin has no value, telling it to the people who, no doubt, value BTC, it is called trolling, and this is probably the third thing you should not have done.

Overall, you look like someone, when cars were invented, saying, this metal garbage will never replace good ol' horses.

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Snowshow (OP)
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June 10, 2022, 11:40:46 AM
 #540

Bitcoin is the best asset in terms of market cap and return. People have made really good money with bitcoin. Bitcoin is based on blockchain which is the future of the internet and it is absolutely not a myth.
Bitcoin is not an asset, but a unit in a system that has zero assets to benefit the unit holders which is why they are forced to dump their worthless units to new investors like in all investment scams. And sure, scams can have huge market cap and return.

From what I read in this thread it looks like you invested in BTC all your money when it was around $70k, and then cashed out recently fearing it's going to zero. Well, you shouldn't have done both, imo. Also, coming here and telling people that Bitcoin has no value, telling it to the people who, no doubt, value BTC, it is called trolling, and this is probably the third thing you should not have done.

Overall, you look like someone, when cars were invented, saying, this metal garbage will never replace good ol' horses.
So, you've ignored the OP, and instead, created fantasies about the author.  How's that not trolling?
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