How Satoshi Nakamoto Fooled the World

[Snowshow]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true. Bitcoin price is simply determined by supply and demand. And like gold or silver or copper, exchanges have put a price to the scarcity of Bitcoin and the demand for it which is what determines price.

Supply and demand are concepts that refer to resources traded in the market. Bitcoin is not a resource. It's a number that you get when giving your resources to someone in order to join Nakamoto scheme. So, bitcoin has nothing to do with supply and demand. The same is true for the concept of scarcity. Only resources can be scarce. Bitcoin scarcity is an oxymoron. Bitcoin is a number. Numbers are infinite in quantity.

[1714170668]

1714170668

[tadamichi]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true.

The core value proposition of any monetary good is its properties as money, its not so much about wiping your ass with it or using it as jewellery, doing so would hurt the monetary value anyways. It doesnt have many functions outside of being used as money, but this doesnt make it valueless. Its literally what its designed as, this whole discussion is pointless, because he doesnt even understand the basic concept of money and creates more and more pseudo-intellectual theories since months, without even accepting any feedback.

[darkv0rt3x]

I must disappoint you. Bitcoin is not God. It's not a person. It's not a living being. It cannot do anything. It's a number. Or more precisely, it's a unit of the number 21 million that an anonymous person created in their imagination and falsely presented as money in order to scam naive and gullible people out of their resources. Protocols and network are just means to transfer units and subunits of Nakamoto's imaginary number between those naive and gullible people.

You present facts you say.

In the above quote I see only 7 personal opinions deprived of any useful content, backed by the same thing as your so called resource "debt", which is thin air! Were are the facts, arguments? Nowhere to be seen.
So, we shall not act upon your ridiculous opinions that can't even stand on their own!

.....

Their only purpose is to inform about the size of a resource transferred in the banking system (debt). Debt is a resource because it provides utility to number holders at debt payment as explained in the OP.

So, stop insulting numbers in the banking system by calling them shit. You look ridiculous.

Debt is a resource my ass! It provides shit other than slavery to the people, socialism and capitalism for the rich, politics, corrupts and other people like that. Society middle classes are wiped out at the expense of your so called (stupid) resource "debt". Debt is not a resource just because they tell you it is. You're so naive that chickens can see clearly what you cannot see!

You're the ridiculous one here and you haven't even noticed it even after 30 pages!
If I teach a chicken where food is, she learns in like 5 attempts or so. If I teach her where danger is, I bet she learn in less than 1/10 of the examples given to you here showing the value underlying Bitcoin!

Allow me disappoint you by informing you that you're dumber than a chicken!


https://www.reddit.com/r/Damnthatsinteresting/comments/vs6zyj/monetary_issue/

[ObscurePen]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true. Bitcoin price is simply determined by supply and demand. And like gold or silver or copper, exchanges have put a price to the scarcity of Bitcoin and the demand for it which is what determines price.

Supply and demand are concepts that refer to resources traded in the market. Bitcoin is not a resource. It's a number that you get when giving your resources to someone in order to join Nakamoto scheme. So, bitcoin has nothing to do with supply and demand. The same is true for the concept of scarcity. Only resources can be scarce. Bitcoin scarcity is an oxymoron. Bitcoin is a number. Numbers are infinite in quantity.

But Bitcoin does has a scarcity, it is capped at 21 million.

It's a number that you get when giving your resources to someone in order to join Nakamoto scheme.

Thus doesn't the value of your resources get transcribed to bitcoin. Isn't this how gold gets its value? If (hypothetically) suddenly people said gold is not useful, then its price would drop because the value of the resource (our time + energy) that we are willing to pay for it is less.

[Snowshow]

I must disappoint you. Bitcoin is not God. It's not a person. It's not a living being. It cannot do anything. It's a number. Or more precisely, it's a unit of the number 21 million that an anonymous person created in their imagination and falsely presented as money in order to scam naive and gullible people out of their resources. Protocols and network are just means to transfer units and subunits of Nakamoto's imaginary number between those naive and gullible people.

You present facts you say.

In the above quote I see only 7 personal opinions deprived of any useful content, backed by the same thing as your so called resource "debt", which is thin air! Were are the facts, arguments? Nowhere to be seen.
So, we shall not act upon your ridiculous opinions that can't even stand on their own!

.....

Their only purpose is to inform about the size of a resource transferred in the banking system (debt). Debt is a resource because it provides utility to number holders at debt payment as explained in the OP.

So, stop insulting numbers in the banking system by calling them shit. You look ridiculous.

Debt is a resource my ass! It provides shit other than slavery to the people, socialism and capitalism for the rich, politics, corrupts and other people like that. Society middle classes are wiped out at the expense of your so called (stupid) resource "debt". Debt is not a resource just because they tell you it is. You're so naive that chickens can see clearly what you cannot see!

You're the ridiculous one here and you haven't even noticed it even after 30 pages!
If I teach a chicken where food is, she learns in like 5 attempts or so. If I teach her where danger is, I bet she learn in less than 1/10 of the examples given to you here showing the value underlying Bitcoin!

Allow me disappoint you by informing you that you're dumber than a chicken!


https://www.reddit.com/r/Damnthatsinteresting/comments/vs6zyj/monetary_issue/

You said nothing new, but only started to insult debt. Debt simply means that one borrowed something from someone and must return it in the future. There's nothing wrong with that. It's a normal business between people. You're again looking ridiculous by insulting this.

[tadamichi]

It's a number that you get when giving your resources to someone in order to join Nakamoto scheme.

Thus doesn't the value of your resources get transcribed to bitcoin. Isn't this how gold gets its value? If (hypothetically) suddenly people said gold is not useful, then its price would drop because the value of the resource (our time + energy) that we are willing to pay for it is less.

Another reason could be the supply of gold increasing, if were really thinking long term and about the upcoming age of space exploration, gold might not be the best way to store value for humanity. There is just too much of it.

[Snowshow]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true. Bitcoin price is simply determined by supply and demand. And like gold or silver or copper, exchanges have put a price to the scarcity of Bitcoin and the demand for it which is what determines price.

Supply and demand are concepts that refer to resources traded in the market. Bitcoin is not a resource. It's a number that you get when giving your resources to someone in order to join Nakamoto scheme. So, bitcoin has nothing to do with supply and demand. The same is true for the concept of scarcity. Only resources can be scarce. Bitcoin scarcity is an oxymoron. Bitcoin is a number. Numbers are infinite in quantity.

But Bitcoin does has a scarcity, it is capped at 21 million.

It's a number that you get when giving your resources to someone in order to join Nakamoto scheme.

Thus doesn't the value of your resources get transcribed to bitcoin. Isn't this how gold gets its value? If (hypothetically) suddenly people said gold is not useful, then its price would drop because the value of the resource (our time + energy) that we are willing to pay for it is less.

Bitcoin does NOT have scarcity because it is capped at 21 million. This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

[tadamichi]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

[darkv0rt3x]

I must disappoint you. Bitcoin is not God. It's not a person. It's not a living being. It cannot do anything. It's a number. Or more precisely, it's a unit of the number 21 million that an anonymous person created in their imagination and falsely presented as money in order to scam naive and gullible people out of their resources. Protocols and network are just means to transfer units and subunits of Nakamoto's imaginary number between those naive and gullible people.

You present facts you say.

In the above quote I see only 7 personal opinions deprived of any useful content, backed by the same thing as your so called resource "debt", which is thin air! Were are the facts, arguments? Nowhere to be seen.
So, we shall not act upon your ridiculous opinions that can't even stand on their own!

.....

Their only purpose is to inform about the size of a resource transferred in the banking system (debt). Debt is a resource because it provides utility to number holders at debt payment as explained in the OP.

So, stop insulting numbers in the banking system by calling them shit. You look ridiculous.

Debt is a resource my ass! It provides shit other than slavery to the people, socialism and capitalism for the rich, politics, corrupts and other people like that. Society middle classes are wiped out at the expense of your so called (stupid) resource "debt". Debt is not a resource just because they tell you it is. You're so naive that chickens can see clearly what you cannot see!

You're the ridiculous one here and you haven't even noticed it even after 30 pages!
If I teach a chicken where food is, she learns in like 5 attempts or so. If I teach her where danger is, I bet she learn in less than 1/10 of the examples given to you here showing the value underlying Bitcoin!

Allow me disappoint you by informing you that you're dumber than a chicken!


https://www.reddit.com/r/Damnthatsinteresting/comments/vs6zyj/monetary_issue/

You said nothing new, but only started to insult debt. Debt simply means that one borrowed something from someone and must return it in the future. There's nothing wrong with that. It's a normal business between people. You're again looking ridiculous by insulting this.

Tell me you're naive without actually telling me you're naive! lol. So why the hell are we so fucked up in terms of economics? How the hell middle classes are about to be extinguished? How are we being lied about inflation? Why are prices spiking? Are you a retard? Can't you see that this shiat coin and shiat system can't work because of the people behind it and because of the lack of properties to turn it into a sound money? Where have you been living? Under the skirts of your mom, for sure! Jeezzz. Putin said, and he's absolutely right, that you only need to be able to read to understand these things, but what the hell? You can read and apparently write, but you understand nothing! It must be something else!

[darkv0rt3x]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true. Bitcoin price is simply determined by supply and demand. And like gold or silver or copper, exchanges have put a price to the scarcity of Bitcoin and the demand for it which is what determines price.

Supply and demand are concepts that refer to resources traded in the market. Bitcoin is not a resource. It's a number that you get when giving your resources to someone in order to join Nakamoto scheme. So, bitcoin has nothing to do with supply and demand. The same is true for the concept of scarcity. Only resources can be scarce. Bitcoin scarcity is an oxymoron. Bitcoin is a number. Numbers are infinite in quantity.

But Bitcoin does has a scarcity, it is capped at 21 million.

It's a number that you get when giving your resources to someone in order to join Nakamoto scheme.

Thus doesn't the value of your resources get transcribed to bitcoin. Isn't this how gold gets its value? If (hypothetically) suddenly people said gold is not useful, then its price would drop because the value of the resource (our time + energy) that we are willing to pay for it is less.

Bitcoin does NOT have scarcity because it is capped at 21 million. This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

More personal opinions and 0 facts nor arguments! So why should we act upon them?
What the fuck is your definition of scarcity? How can you say that 21 million is not scarce compared to 2281 trillion shitdollars ?
https://ycharts.com/indicators/us_currency_in_circulation

What a stupid comparison you make with O2. There is no more Bitcoins outside of the network or anywhere else. How you compare it to putting O2 in a container??? There is more O2 out of the container. There is no more Bitcoin anywhere else! Don't make yourself look like a stupid person and learn something.

The 21 millions, if you want to compare, would be the total number of O2 molecules you could ever find anywhere. Not in a container!

[tadamichi]

Tell me you're naive without actually telling me you're naive! lol. So why the hell are we so fucked up in terms of economics? How the hell middle classes are about to be extinguished? How are we being lied about inflation? Why are prices spiking? Are you a retard? Can't you see that this shiat coin and shiat system can't work because of the people behind it and because of the lack of properties to turn it into a sound money? Where have you been living? Under the skirts of your mom, for sure! Jeezzz. Putin said, and he's absolutely right, that you only need to be able to read to understand these things, but what the hell? You can read and apparently write, but you understand nothing! It must be something else!

Idk if he realized yet that loans and debt are a concept that can be done on Bitcoin too. You just wont be able to create infinite money by giving out loans, like banks are doing now. Meaning the individual wont suffer from the gambling politicians/banks are doing, when they had nothing to do with it in the first place.

[Snowshow]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

[Snowshow]

I must disappoint you. Bitcoin is not God. It's not a person. It's not a living being. It cannot do anything. It's a number. Or more precisely, it's a unit of the number 21 million that an anonymous person created in their imagination and falsely presented as money in order to scam naive and gullible people out of their resources. Protocols and network are just means to transfer units and subunits of Nakamoto's imaginary number between those naive and gullible people.

You present facts you say.

In the above quote I see only 7 personal opinions deprived of any useful content, backed by the same thing as your so called resource "debt", which is thin air! Were are the facts, arguments? Nowhere to be seen.
So, we shall not act upon your ridiculous opinions that can't even stand on their own!

.....

Their only purpose is to inform about the size of a resource transferred in the banking system (debt). Debt is a resource because it provides utility to number holders at debt payment as explained in the OP.

So, stop insulting numbers in the banking system by calling them shit. You look ridiculous.

Debt is a resource my ass! It provides shit other than slavery to the people, socialism and capitalism for the rich, politics, corrupts and other people like that. Society middle classes are wiped out at the expense of your so called (stupid) resource "debt". Debt is not a resource just because they tell you it is. You're so naive that chickens can see clearly what you cannot see!

You're the ridiculous one here and you haven't even noticed it even after 30 pages!
If I teach a chicken where food is, she learns in like 5 attempts or so. If I teach her where danger is, I bet she learn in less than 1/10 of the examples given to you here showing the value underlying Bitcoin!

Allow me disappoint you by informing you that you're dumber than a chicken!


https://www.reddit.com/r/Damnthatsinteresting/comments/vs6zyj/monetary_issue/

You said nothing new, but only started to insult debt. Debt simply means that one borrowed something from someone and must return it in the future. There's nothing wrong with that. It's a normal business between people. You're again looking ridiculous by insulting this.

Tell me you're naive without actually telling me you're naive! lol. So why the hell are we so fucked up in terms of economics? How the hell middle classes are about to be extinguished? How are we being lied about inflation? Why are prices spiking? Are you a retard? Can't you see that this shiat coin and shiat system can't work because of the people behind it and because of the lack of properties to turn it into a sound money? Where have you been living? Under the skirts of your mom, for sure! Jeezzz. Putin said, and he's absolutely right, that you only need to be able to read to understand these things, but what the hell? You can read and apparently write, but you understand nothing! It must be something else!

If I don't need the consumption of products today and because of that I borrow products to someone else, the thing that is created is called debt. The banking system helps in that borrowing via fiat currency, collaterals and loan contracts and make sure that the products are returned to me in the future. So, it's a legitimate business between the adults. Why do you keep insulting legitimate business between the adults? What is your problem? I mean, you literally buy numbers, which are all around us, just because an anonymous person put them in their box and give them name. You should insult yourself for this stupidity, not the adults that exchange resources.

[darkv0rt3x]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

That's one of your problems. Narrow mind and vision. Bitcoin is not just a number. It's way more than that. And the 21 millions are 21 millions. It doesn't matter if there are more numbers.
Once more, define scarce. When you say scarce you have to compare two things. You're not doing such!
Nobody put nothing in anything, that's just your useless opinion. Once more, 0 facts! But keep going, you're giving me sats!

[Snowshow]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

That's one of your problems. Narrow mind and vision. Bitcoin is not just a number. It's way more than that. And the 21 millions are 21 millions. It doesn't matter if there are more numbers.
Once more, define scarce. When you say scarce you have to compare two things. You're not doing such!
Nobody put nothing in anything, that's just your useless opinion. Once more, 0 facts! But keep going, you're giving me sats!

After purchasing bitcoins you have number. Nothing else. No resource to utilize. Just number next to your address. Every idiot can create a scheme that attributes numbers to people's addresses. There's no scarcity in this. You people are literally buying numbers that you can create by yourself for free. Such stupidity was never witnessed in human history.

[tadamichi]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

Maybe you dont understand what relative supply means or what Bitcoin is trying to do. Its not putting numbers in a box and then trying to convince people to get it, because theyre scarce. History is always on the side of innovators, fools like you always thought they outsmarted everyone and then lost. The problem is you dont even the understand basics of how the world around you works, or purposely try to not accept it. It makes you look like some primary schooler trying to educate the world, but refusing to take any inputs from others/ reality.

Also youre avoiding answering questions again, is debate too demanding for you?

Im glad i wasnt your teacher, this person definitely deserves some compensation for the brain damage you must have caused.

After purchasing bitcoins you have number. Nothing else. No resource to utilize.

So how is it different from money? How many times did you produce jewellery out of gold yet yourself? How many times did you wipe your ass with fiat yet? The answer is 0 in 99% of cases and we both know it.

There's no scarcity in this. You people are literally buying numbers that you can create by yourself for free.

K so send everyone here in the forum a Bitcoin, were waiting. If you cant, then its just empty disproven talk.

[Snowshow]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

Maybe you dont understand what relative supply means or what Bitcoin is trying to do. Its not putting numbers in a box and then trying to convince people to get it, because theyre scarce. History is always on the side of innovators, fools like you always thought they outsmarted everyone and then lost. The problem is you dont even the understand basics of how the world around you works, or purposely try to not accept it. It makes you look like some primary schooler trying to educate the world, but refusing to take any inputs from others/ reality.

Also youre avoiding answering questions again, is debate too demanding for you?

You refuted nothing I have said. You just insult because you have no arguments.

[tadamichi]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

Maybe you dont understand what relative supply means or what Bitcoin is trying to do. Its not putting numbers in a box and then trying to convince people to get it, because theyre scarce. History is always on the side of innovators, fools like you always thought they outsmarted everyone and then lost. The problem is you dont even the understand basics of how the world around you works, or purposely try to not accept it. It makes you look like some primary schooler trying to educate the world, but refusing to take any inputs from others/ reality.

Also youre avoiding answering questions again, is debate too demanding for you?

You refuted nothing I have said. You just insult because you have no arguments.

You still didnt answer the questions, stop dodging it. I didnt ask you if i refuted something or if you like the arguments.

[arcmetal]

So I think what you are saying is that Bitcoin doesn't have any inherent value in it. This I believe (to the best of my knowledge, someone correct me if I am wrong. I am also still learning) is true. Bitcoin price is simply determined by supply and demand. And like gold or silver or copper, exchanges have put a price to the scarcity of Bitcoin and the demand for it which is what determines price.

Your second comment is correct in the sense that a collection of people in a market of bitcoin, trading, determines bitcoin's price, but the part I have bolded is, I am afraid, a bit incorrect.

Bitcoin does have inherent value.  As I was just explaining to someone (someone that just asked me about bitcoin, even though I have stopped telling people about it, I'll still reply to questions if someone asks).  Among its many inherent values there is one that seems very interesting and it may be one of those properties that first alerted people to something new going on here.  

I explained it this way:  ... So, you have used computers.  You know about directories and files (text files, jpegs, pngs, executables, etc).  You know that you can make copies of these files.  You can make as many copies as you want of these files.  This is a piece of electronic data, and anyone can make as many copies of this data as you want, so they have some, although little value, individually.  ... One thing that the blockchain technology produces is a way to make unique pieces of data.  Once you send someone a small piece of bitcoin, no one, not even you can send someone else a copy of that same piece of bitcoin.

So here we have for the first time in the history of computers (as far as I know), in the history of electronic data, a technology that can produce unique, uncopyable, pieces of electronic data.

This is one of the, among many, inherent values of bitcoin.

[Snowshow]

Bitcoin does NOT have scarcity because it is capped at 21 million.

This is the most hilarious thing ive read from you in a long time. Scarcity means the supply relative to other goods. You cant get more than 21 million Bitcoin no matter how hard you will try, or how many numbers exist. It cant get more scarce than this.

This is like saying that O2 molecules have scarcity because they are put in a container that by that definition can take only limited number of those molecules. In the same way Nakamoto put limited amount of numbers (21 million) in their container and gave them the name bitcoins. That doesn't make these numbers scarce, because numbers are all around us, just like O2 molecules.  

This is like thinking land on earth isnt scarce too, because theres trillions of other planets that have land too.

P.S. You can transcribe value of one resource only to another resource. Because resources provide utility and it's is utilities of the resources what is transcribed.
Bitcoin is a number that you get next to your address, not a resource that provides utility which is why there's nothing to transcribe to.

K i have a simple question for you, what is the task of money? Why didnt we keep doing barter?

There's one problem in you thinking. Bitcoin is a number. Just because numbers in Nakamoto scheme are limited that doesn't make them scarce. Numbers are all around us. So basically, a person or a group of people put numbers in the box, give them the name "bitcoin" and convince you to purchase numbers because bitcoins are limited. Which is as stupid as putting air in the box, giving the air in the box the name "boxair", and convincing people to purchase air because boxair is limited. Hahaha. You people are the participants in the stupidity never seen in human history.

Maybe you dont understand what relative supply means or what Bitcoin is trying to do. Its not putting numbers in a box and then trying to convince people to get it, because theyre scarce. History is always on the side of innovators, fools like you always thought they outsmarted everyone and then lost. The problem is you dont even the understand basics of how the world around you works, or purposely try to not accept it. It makes you look like some primary schooler trying to educate the world, but refusing to take any inputs from others/ reality.

Also youre avoiding answering questions again, is debate too demanding for you?

You refuted nothing I have said. You just insult because you have no arguments.

You still didnt answer the questions, stop dodging it. I didnt ask you if i refuted something or if you like the arguments.

I am not here to answer irrelevant questions.