I think what you are describing in your opening post has one flaw: You describe an asset that is sold to people for their fiat money with no real value behind it in return. This for Bitcoin ist not true, since bitcoins were not sold to people by Satoshi Nakamoto. He only created the network and let people do work (mine) to get the bitcoin. If satoshi would have just sold all coins to people and then left it would be a scam, I can agree with you. This is done by many premined coins but as I said was not done with bitcoin. So in order to get bitcoins you also have to perform work, which makes it in return also debt based. TADA: it is not that different form other currencies, except it is digital.
It's a scam in a sense that Satoshi in the Whitepaper claimed that his system produces money. Money is an economic resource from which people can benefit without new buyers or investors. Also, no one knows how many addresses Satoshi has in the system. So he is essentially benefiting from the disinformation written in the Whitepaper. He got real economic resources and left the holders only with units of his imagined number (21 million). Which is why literally all holders need the new buyers or investors to get the resources back. Without them, they are doomed. Hence, a classical investment scam.
I'm sorry but you are not understanding bitcoin correctly, since you are assuming that satoshi exchanged bitcoins for fiat money and then left. This is not the case since it is only recorded that he mined two blocks and one of them is unspendable. Meaning he owns 50 BTC in total and those were not spend also. Ofcourse he could have mined more blocks later but everyone could have done this so it is not right what you are saying.
Can you maybe tell what is the reason for you to fight random people on the internet about Bitcoin?
So, I don't understand Bitcoin because, you know that an anonymous guy has only one address in a system where the address holders are anonymous? Do you realize how nonsensical your statements are?
You ignored the entire point. So, I am going to make it easy for you by asking you one simple question: can anyone in the bitcoin scheme benefit from the scheme without new investors entering the scheme?
First of all, this is getting silly. First, it is you who is ignoring my point. You are intentionally doing this because your arguments are becoming less and less valid with each of our posts. I already answered your question multiple times in my previous replies.
Second, you continue to use the word 'scheme' next to Bitcoin which is more than definitely deception. It is not a scheme, it is a system.
Back to the rest of your question. I can send you $100,000 worth of Bitcoin without a third party interfering with our transaction and requesting documents for identification and proof for source of funds.
I can move $1,000,000,000 abroad without making anyone notice that I did. It is a transaction stored in a public and transparent legder, but pseudonymity makes it so that there is no clear evidence of who I am and with enough privacy and care, I can make it close to impossible with the current knowledge, information and technology to link the transaction to my identity.
I can purchase a ton of goods using Bitcoin directly, at my own will, even by physically shopping and checking out in a similar way to credit card payments. Only without banks.
I can store information directly on the blockchain.
I can use my own resources and energy to 'generate' or, as we say, mine Bitcoin at my own will.
These are just a few of the things I can do with Bitcoin. This is how I benefit from it. Tell me where exactly is the 'new investors' part in any of the five scenarios I have mentioned above. Exactly, there is not.
If we are talking about price increasing from purchases and decreasing from sales. That is how ANY asset works. Offer and demand. If you think I am benefiting from others who are purchasing Bitcoin and making the price increase, then any other asset in this world is by your definition a scam. Gold miners are tricking you into believing Gold has value and scamming you out of your real asset: cash. Because how else would they benefit from Gold if there was no new investor to purchase it? But wait. Now the state is tricking you into believing cash actually has value and scamming you out of your real asset. Because how else would they benefit from cash if there was no new investor to purchase it? And the list goes on, infinitely.
Now instead of intentionally ignoring all of my previous questions and replying with 'I know best, I do not even care what you are saying anyway', try actually answering them for once, you genius. Because you always ignore questions but ask yours and want them to be replied to by us. Either participate in a conversation or keep your monologue and conspiracy theory to yourself.
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Regards,
PrivacyG
I really don't care about your questions. I only care that you prove me wrong. I simply said that nobody in the system is able to benefit within the system, which means that zero economic resources exist in the system and literally all members of the system require what members of all investment scams require: new investors. Without them they are doomed.
So, you can scream all you like, but you cannot prove me wrong in that way.
Society decides what has value and what does not. A piece of stone can be of great value to some people and at the same instant is worthless to other people . When a rectangular piece of paper has value and able to get you a launch or an item, it is because the society decided to make it to have value. The same goes for Bitcoin or other cryptocurrency. cryptocurrency is seen as the future of money and has numerous benefits when compared to fiat. With cryptocurrency, you are in control of your money. You don't need to keep it with a third party.
Why then the holders in the Satoshi's system require new buyers or investors? If the thing they own in the system is valuable, why all of them must sell that thing, that is, get something from outside of the system? And then, whoever enters the system, also must exist the system and get something for the outside to be able to benefit. How's that possible if,
within the Satoshi's system something valuable exists? Are you people even aware how naive you are?
