The Bitcoin Paradox - a Simple Online Scam Honored as Deity

[Snowshow]

tl;dr
Bitcoin and crypto are simple online scams in the form of the systems for creating the illusion of assets(money). The illusion is created by misusing the concept of quantity and name. Quantity and name are representations of assets,  written on invoices, orders, accounts, deposits, banknots,... when assets such as debt, equity, commodity, real estate... are transferred between people. By writing down numbers and names, the crypto systems create the illusion of assets(money). In that way, they deceive people and trick them out of their real assets.

Video version: https://youtu.be/5k2n3dfK-zI

Long version:
Bitcoin is the name that pops up a lot in the last ten years. You see it on social media, television, newspapers, magazines, books. Your friends talk about it. Colleagues, politicians, businessmen and celebrities as well. People refer to this name as the money of the internet,  digital asset, or gold 2.0. Some view it as a revolution. Others, as freedom.

But here's the news. It's all just an illusion. A mere narrative. Disinformation and misinformation. There's no digital asset, no money no revolution and no freedom. All there is, is a simple online scam. A scam in the form of a system for creating the illusion of digital asset. The system is designed for one purpose and one purpose only. To trick people out of their money. We will now explain how the scam operates. But first some insight.

Whenever an asset is transferred between people, this is represented by quantity and name. These are recorded on invoices, orders, accounts, certificates, banknotes and so on. However, in many cases, people don't even see the asset that is being transferred. They just see quantity and name. For example, if you buy 100 shares of Tesla, you will see only the number 100 and the name TSLA written on brokerage account. Moreover, in some cases, people don't even know that the asset exists. The perfect example of this is fiat money. When you ask an average person what is fiat money they will answer what they see. So, they will answer: "fiat money is numbers on banknotes or deposit accounts."

But in reality, fiat money is a debt-based asset. Numbers, on the other hand, just represent asset quantity.  Meaning, when people hold banknotes or deposits, the borrowers owe them economic benefits in the form of goods, services and labor. The holders invested these benefits in banknotes or deposits, that were put in circulation with loans. And that is why, borrowers are forced (via mortgages and other liens) to trade goods, services or labor with the holders, to be able to repay the loans. In that way, borrowers settle the debt to the holders. But given that in the markets, people don't know which sellers are borrowers, they are not even aware that debt was settled to them. They are also not aware, that after such settlement banknotes or deposits went out of circulation. Due to this ignorance, people have misconceptions about fiat money.

With that in mind, now imagine a scammer. They don't own any asset. Which is why they want to get their hands on other people's assets. This scammer knows what we just described. They know that in the transactions, people often don't see the assets that are being transferred, but just numbers and names. So the scammer comes up with an idea. They will set up a system for creating the illusion of asset. The system will write down numbers and in that way people will be deceived that there's an actual quantity behind them. To complete the deception, the name is also needed. So, the scammer does the following. First they produce a name: "Bitcoin". Then, a number: "21 million". With the name, the scammer will create the illusion of asset's existence. And with the number, the illusion of asset's quantity. Then they set up a system with a database. The system will record the units of their imagined quantity next to the virtual addresses of people. Due to anonymity, no one would know how many addresses are associated with the scammer. Prior to seting up the system the scammer wrote a paper. In that paper they declared that whenever a number will be attributed to an address, that means that the address holder received bitcoins in the attributed quantity. Now the scammer has both ingredients needed to create the illusion of asset: quantity and name. Finally, in order to amplify the illusion, the scammer builds into the system a cryptographic protection of numbers. Because obviously, "the asset" needs to be protected. And now, the illusion is complete. All the scammer has to do now is wait for people naive enough to fall for his scam and start trading their real assets for the illusory (nonexistent) one.

Now, you would think, this scam is too obvious. No one will fall for it. Well, you would be wrong. The system that we described is of course not imagined. It is real. The scammer is called Satoshi Nakamoto.  And there is a whole army of naive and gullible people that fell for his scam. Not only that, some were even giving up  $70,000 worth of real assets, for one unit of Satoshi's nonexistent one. Others believe that Satoshi's system could be the start of a bigger revolution than the Internet itself. Books and articles are written about this revolution. Passionate believers organize conferences and events to talk about the system, or to celebrate it as if it is a gift from the sky. People even say that it might be the only thing that can save humanity. It is literally unbelievable, that a simple online scam was elevated nearly to the level of deity.

When other scammers saw how naive people are, and how easy is to trick them out of their money, they also started producing systems for creating the illusion of asset. The illusions, produced by these systems are known by the name "cryptocurrencies". And are now popping up all over the place like mushrooms after rain.

Traditional scams, which created the illusion of lucrative businesses or revolutionary products to trick people out of their money, are obsolete. So the scammers came up with new and sophisticated ones, which create the illusion of revolutionary money or digital assets. It is mind boggling how easy people fall for them. But hey, in was not in vain when Albert Einstein said: "Two things are infinite: the universe and human stupidity; and I’m not sure about the universe."

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[PrivacyG]

In that case, there is a Fiat Paradox as well.  Back when the Dollar was backed by Gold, you knew there was value behind that bank note.  But now, it is really just a rectangular peice of paper that promises nothing.  And people do sell their houses for it, although in reality it has no real value.  Look how much debt we are in.  Look how much USD has been printed since 2019.  The money in your bank account is just like Bitcoin, but completely centralized.  But USD's circulating supply can be increased or decreased by a governing power.  Bitcoin has no central power to decide core changes.

Then I think value is actually subjective.  If all of a sudden nobody thought USD had value, it will not have value any more.  If all of a sudden everyone thought Bitcoin was worthless, it becomes worthless.  We as a society decide what is valuable and what is not, otherwise precious metals would not become worth less during peaceful times and worth more during panic.  Its value changes depending on a number of conditions.

Is 'getting tricked out of real assets' the right way to go?  I would not say so.  Bitcoin CAN be changed, it CAN have infinite supply, it CAN be used in a bad way but it has no central point of failure and any attempt to wrongfully change it by a perpetrator would immediately be declined and reverted by the rest of the users as soon as they notice they have been deceived.  So even if it CAN do all of that, it does not mean it will.

Since Bitcoin still exists successfully even one decade later and nobody has proven it to be a scam and it has been able to provide real utility and value for a ton of users, I do not see any way we can categorize it as a 'scam' unless we want to fantasize about a parallel universe in which Bitcoin was created that way.  I, for one, do not percieve Satoshi Nakamoto as a deity but simply as a genius human or group of humans who were able to invent something never seen before (except failed previous attempts, of course).

-
Regards,
PrivacyG

[Snowshow]

In that case, there is a Fiat Paradox as well.  Back when the Dollar was backed by Gold, you knew there was value behind that bank note.  But now, it is really just a rectangular peice of paper that promises nothing.  And people do sell their houses for it, although in reality it has no real value.  Look how much debt we are in.  Look how much USD has been printed since 2019.  The money in your bank account is just like Bitcoin, but completely centralized.  But USD's circulating supply can be increased or decreased by a governing power.  Bitcoin has no central power to decide core changes.

Then I think value is actually subjective.  If all of a sudden nobody thought USD had value, it will not have value any more.  If all of a sudden everyone thought Bitcoin was worthless, it becomes worthless.  We as a society decide what is valuable and what is not, otherwise precious metals would not become worth less during peaceful times and worth more during panic.  Its value changes depending on a number of conditions.

Is 'getting tricked out of real assets' the right way to go?  I would not say so.  Bitcoin CAN be changed, it CAN have infinite supply, it CAN be used in a bad way but it has no central point of failure and any attempt to wrongfully change it by a perpetrator would immediately be declined and reverted by the rest of the users as soon as they notice they have been deceived.  So even if it CAN do all of that, it does not mean it will.

Since Bitcoin still exists successfully even one decade later and nobody has proven it to be a scam and it has been able to provide real utility and value for a ton of users, I do not see any way we can categorize it as a 'scam' unless we want to fantasize about a parallel universe in which Bitcoin was created that way.  I, for one, do not percieve Satoshi Nakamoto as a deity but simply as a genius human or group of humans who were able to invent something never seen before (except failed previous attempts, of course).

-
Regards,
PrivacyG

Fiat is debt that gets paid with every loan repayment. Banknotes and deposis are just the evidence of that debt. In the past you got gold for fiat. Today you get borrower's goods, services or labour. Debt is an asset.

Bitcoin is a name that creates the illusion of asset. And thus, a scam. Those who are in the system are deceiving people by claiming they own asset or money while only name and numbers attributed to their addresses exist. That's why one can benefit only if new investors enter the system. Hence, classical investment scam.

[NeuroticFish]

Fiat is debt that gets paid with every loan repayment. Banknotes and deposis are just the evidence of that debt. In the past you got gold for fiat. Today you get borrower's goods, services or labour. Debt is an asset.

Bitcoin is just another manifestation of the same debt.
In the past people have been using shells, or silver, or gold for the same job. Why can't we use Bitcoin? Because it's... digital? Or maybe because the governments cannot alter the value at will with inflation?
Even now, banks and governments use gold for the job. Why don't they just keep <only> the printed paper if it's so wonderful?

Bitcoin is a name that creates the illusion of asset. And thus, a scam. Those who are in the system are deceiving people by claiming they own asset or money while only name and numbers attributed to their addresses exist. That's why one can benefit only if new investors enter the system. Hence, classical investment scam.

Sour grapes much?

[Snowshow]

Fiat is debt that gets paid with every loan repayment. Banknotes and deposis are just the evidence of that debt. In the past you got gold for fiat. Today you get borrower's goods, services or labour. Debt is an asset.

Bitcoin is just another manifestation of the same debt.
In the past people have been using shells, or silver, or gold for the same job. Why can't we use Bitcoin? Because it's... digital? Or maybe because the governments cannot alter the value at will with inflation?
Even now, banks and governments use gold for the job. Why don't they just keep <only> the printed paper if it's so wonderful?

Bitcoin is a name that creates the illusion of asset. And thus, a scam. Those who are in the system are deceiving people by claiming they own asset or money while only name and numbers attributed to their addresses exist. That's why one can benefit only if new investors enter the system. Hence, classical investment scam.

Sour grapes much?

Bitcoin is a name. You, by having number in a system, are not able to show asset. For e.g, you by having number 1 attached to the addresses, compared to someone that has 0.0001, are not able to show a thousand times more zeros and ones in the system in your possession. Digital asset is zeros and ones. So you own no digital asset. You just have fake number that creates the illusion of asset quantity, as described in OP. Simply, you're the victim of a scam.

[NeuroticFish]

You, by having number in a system, are not able to show asset. For e.g if you have number 1 attached to the addresses, compared to someone that has 0.0001, you are not able to show a thousand times more zeros and ones in the system in your possession. Digital asset is zeros and ones. So you own no digital asset. You just have fake number that creates the illusion of asset quantity, as described in OP. Simply, you're the victim of a scam.

You just proving that you have no idea at all how Bitcoin works. Sadly, what you've described is a bank account. Now ask yourself the right question...

[Snowshow]

You, by having number in a system, are not able to show asset. For e.g if you have number 1 attached to the addresses, compared to someone that has 0.0001, you are not able to show a thousand times more zeros and ones in the system in your possession. Digital asset is zeros and ones. So you own no digital asset. You just have fake number that creates the illusion of asset quantity, as described in OP. Simply, you're the victim of a scam.

You just proving that you have no idea at all how Bitcoin works. Sadly, what you've described is a bank account. Now ask yourself the right question...

You're the victim. Try to accept explanations of people that are trying to help you.

[BlackHatCoiner]

Stop. Leave this place. Nobody agrees with you. Your plan to pathetically and obnoxiously enforce your point of view for the gazillionth time has failed. You don't convince anyone that bitcoin is meaningless. It has been repeatedly told you that the way you've understood bitcoin (and perhaps money as a whole?) is false.

You deserve this quote.

Most of these people are not ready to be unplugged, and many of them are so inured, so hopelessly dependent on the system that they will fight to protect it.

[Snowshow]

Stop. Leave this place. Nobody agrees with you. Your plan to pathetically and obnoxiously enforce your point of view for the gazillionth time has failed. You don't convince anyone that bitcoin is meaningless. It has been repeatedly told you that the way you've understood bitcoin (and perhaps society as a whole?) is false.

You deserve this quote.

Most of these people are not ready to be unplugged, and many of them are so inured, so hopelessly dependent on the system that they will fight to protect it.

Stop your obsession with the people that are trying to help you. Focus on the system that tricks you, in order for the anonymous scammers to get their hands on your asset.

[NeuroticFish]

You're the victim. Try to accept explanations of people that are trying to help you.

So you cannot prove anything by logic, so you decided to ask nicely? 
Since this has been started, I'll also tell you my favorite quote on Bitcoin:

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

[Synchronice]

But here's the news. It's all just an illusion. A mere narrative. Disinformation and misinformation. There's no digital asset, no money no revolution and no freedom. All there is, is a simple online scam. A scam in the form of a system for creating the illusion of digital asset. The system is designed for one purpose and one purpose only. To trick people out of their money. We will now explain how the scam operates. But first some insight.

It's all just an illusion? Can you argue with me if I say that your consciousness is an illusion created by your brain? If you ask me it's not because I feel when I touch, then have a good deep sleep and tell me about your vivid dreams.

What's your definition of a scam? Governments print tons of money and as a result, prices of everything, including goods and real estate are increasing, while the rate of wage increase is significantly lower. Can you make a conclusion from this? Riches are getting richer and the poor are getting poorer, this is the real scam!

But in reality, fiat money is a debt-based asset. Numbers, on the other hand, just represent asset quantity.  Meaning, when people hold banknotes or deposits, the borrowers owe them economic benefits in the form of goods, services and labor.

Will it be misconduct if I say: Meaning, when people hold bitcoin, the borrowers owe them economic benefits in the form of goods, services and labor.

cut

You don't wanna understand that everything is very simple at the end. Imagine we create an island where only the new generation is born and raised and we teach them that plastic has the value, give them plastic coins and tell that they should work and save plastic coins to get rich and wealthy (and never teach them how to make plastic, just give them limited amount). In this informational vacuum, they'll believe it and work for it.
Maybe it's not a good example to clarify how things work but my main purpose is to make you understand social and psychological value of money.

[Snowshow]

You're the victim. Try to accept explanations of people that are trying to help you.

So you cannot prove anything by logic, so you decided to ask nicely? 
Since this has been started, I'll also tell you my favorite quote on Bitcoin:

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

I gave you logical arguments. You ignored them all and just responded with ad hominem logical fallacy by saying that I don't understand bitcoin.

[Snowshow]

But here's the news. It's all just an illusion. A mere narrative. Disinformation and misinformation. There's no digital asset, no money no revolution and no freedom. All there is, is a simple online scam. A scam in the form of a system for creating the illusion of digital asset. The system is designed for one purpose and one purpose only. To trick people out of their money. We will now explain how the scam operates. But first some insight.

It's all just an illusion? Can you argue with me if I say that your consciousness is an illusion created by your brain? If you ask me it's not because I feel when I touch, then have a good deep sleep and tell me about your vivid dreams.

What's your definition of a scam? Governments print tons of money and as a result, prices of everything, including goods and real estate are increasing, while the rate of wage increase is significantly lower. Can you make a conclusion from this? Riches are getting richer and the poor are getting poorer, this is the real scam!

But in reality, fiat money is a debt-based asset. Numbers, on the other hand, just represent asset quantity.  Meaning, when people hold banknotes or deposits, the borrowers owe them economic benefits in the form of goods, services and labor.

Will it be misconduct if I say: Meaning, when people hold bitcoin, the borrowers owe them economic benefits in the form of goods, services and labor.

cut

You don't wanna understand that everything is very simple at the end. Imagine we create an island where only the new generation is born and raised and we teach them that plastic has the value, give them plastic coins and tell that they should work and save plastic coins to get rich and wealthy (and never teach them how to make plastic, just give them limited amount). In this informational vacuum, they'll believe it and work for it.
Maybe it's not a good example to clarify how things work but my main purpose is to make you understand social and psychological value of money.

A scam is when the only possible way for you to benefit from your investment is from funds contributed by new investors. A legitimate business is when you can benefit from the asset you invested in, such as debt (fiat/bonds), equity, commodity, real estate, etc.

Now, answer me: how can you benefit from a number that you have next to your address without new investors voluntarily entering the Satoshi's system?

[NeuroticFish]

I gave you logical arguments. You ignored them all and just responded with ad hominem logical fallacy by saying that I don't understand bitcoin.

You described a bank account. You didn't describe how bitcoin works. On bitcoin I don't have to prove an address is mine, I have only to sign transaction if I want to spend.
On bank I have numbers in account. On bitcoin I have inputs that can be traced back to their inception.
So no, it's you who is missing the logic here. And by repeatingly doing that you prove it's you honor your paper deity, while I don't have to add anything.

Have a nice day.

[Snowshow]

I gave you logical arguments. You ignored them all and just responded with ad hominem logical fallacy by saying that I don't understand bitcoin.

You described a bank account. You didn't describe how bitcoin works. On bitcoin I don't have to prove an address is mine, I have only to sign transaction if I want to spend.
On bank I have numbers in account. On bitcoin I have inputs that can be traced back to their inception.
So no, it's you who is missing the logic here. And by repeatingly doing that you prove it's you honor your paper deity, while I don't have to add anything.

Have a nice day.

I provided you evidence that bitcoin is a scam system that creates the illusion of asset. You ignored all the evidences, and started to talk about irrelevant things. You're not even responding to the theme of the topic.

[Rikafip]

Stop. Leave this place. Nobody agrees with you.

Antikvark/Fxsurfer/Antithesis and now under new name Snowshow will keep coming back as long as people keep seriously answering to his drivel. He knows that he won't convince anyone in his bullshit like we all know that we won't change his opinion so what's the point in playing another game of pigeon chess with him? He is obviously ban evading but too bad that forum staff is not willing to ban his last few alts.

His last topic had 17 pages, let's see how many this one gets. Over and out.

[Snowshow]

Stop. Leave this place. Nobody agrees with you.

Antikvark/Fxsurfer/Antithesis and now under new name Snowshow will keep coming back as long as people keep seriously answering to his drivel. He knows that he won't convince anyone in his bullshit like we all know that we won't change his opinion so what's the point in playing another game of pigeon chess with him? He is obviously ban evading but too bad that forum staff is not willing to ban his last few alts.

His last topic had 17 pages, let's see how many this one gets. Over and out.

You have a myriad of topics to discuss the things you're interested in. Why is it that some of you people constantly come to the topics you're not interested in only to start spreading your personal theories on forum users?

[pooya87]

You're the victim. Try to accept explanations of people that are trying to help you.

Oh you are too kind for hepling us out of the kindness of your heart, after reading your full of knowdgle post I feel so much wiser and want to dump all my bitcoins and run away. If you give me your bitcoin address I will send it all to you and free myself of this illusion.

[Snowshow]

You're the victim. Try to accept explanations of people that are trying to help you.

Oh you are too kind for hepling us out of the kindness of your heart, after reading your full of knowdgle post I feel so much wiser and want to dump all my bitcoins and run away. If you give me your bitcoin address I will send it all to you and free myself of this illusion.

You can do whatever you want. I am just telling you how things are.

[Don Pedro Dinero]

Didn't read lol!

You'd better try to convince people in forums other than this one. If you think you're going to have much success in this forum that Satoshi started, you're in for a treat.

As far as I'm concerned, the only thing you get is that I put you on my ignore list.