Article: Why Bitcoin is the Most Nonsensical Thing Ever

[Snowshow]

Abstract

Both in academic and public discourse, bitcoin(₿) is mainly presented as money. This is grossly misleading, and it creates misconception about what bitcoin actually is. Here, we will use the definition of bitcoin given by the bitcoin creator themselves, to show that bitcoin is not money, but a common record freely available to everyone. That record serves a single purpose: to grant people access to a chain distributor scheme where participants, after making investments, cannot get anything back without “distributors”. Distributors are new participants who supply the resources to existing participants and enable them to return the investments. Given that the Bitcoin system consumes an enormous amount of energy and technical resources, while in the same time produces nothing and transacts with nothing, this makes it the most nonsensical invention ever.

The article is here: https://btcfarce.wordpress.com/

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[CryptoHeadlineNews]

Nakamoto claims to have invented a payment system that performs transactions with its own electronic money called "bitcoin" (BTC). Bitcoins are created in the system through complex mathematical calculations. Once created, they are transferred between users registered in the system. However, all this is just one big joke or hoax. The system creates no bitcoins. It performs no transactions. Nakamoto invented no payment system. What they invented is a system through which the registered users exchange numbers.

This is a total rubbish. And it is so sad that you are ignorant about Bitcoin and yet you still decided to sit down in your ignorance to come to this forum to keep on typing total rubbish all the time. Because I know you too well, this will be the 4th time you are posting a useless thread here. And I will like to advise you that you should learn to be positive at least once in your lifetime. And stop been negative all the time, for your own good

[Snowshow]

Nakamoto claims to have invented a payment system that performs transactions with its own electronic money called "bitcoin" (BTC). Bitcoins are created in the system through complex mathematical calculations. Once created, they are transferred between users registered in the system. However, all this is just one big joke or hoax. The system creates no bitcoins. It performs no transactions. Nakamoto invented no payment system. What they invented is a system through which the registered users exchange numbers.

This is a total rubbish. And it is so sad that you are ignorant about Bitcoin and yet you still decided to sit down in your ignorance to come to this forum to keep on typing total rubbish all the time. Because I know you too well, this will be the 4th time you are posting a useless thread here. And I will like to advise you that you should learn to be positive at least once in your lifetime. And stop been negative all the time, for your own good

This is not rubbish, but an actual description of modern asset redistribution schemes. You're free to participate in these schemes, just stop spreading false narratives about them.

[Itty Bitty]

Your post is amazing.

Almost everything you wrote is silly. Except somehow, some way, you understood what few people realize, that Nakamoto's system does nothing more than transfer integer numbers from one long string of letters/numbers (public address) to another. These integer numbers today are called Satoshis (in honor of), and the white paper does not mention the word bitcoin at all. The word "bitcoin" (when used used to represent the system's native token) is just a representation of an amount of satoshis, one bitcoin = 100.000.000 satoshis. You are correct in your assessment that all that is happening is that regular plain old integer numbers (satoshis) are being  rearranged.

How you were able to understand this, and not understand anything else about how bitcoin (the network) operates, or how the system's protocol works, or how it can be used as an electronic payment system, or the implications this could have to the future of finance in this world, or why it is accruing value over time, is just mind blowing.

[DigitalMonk]

Your post is amazing.

Almost everything you wrote is silly. Except somehow, some way, you understood what few people realize, that Nakamoto's system does nothing more than transfer integer numbers from one long string of letters/numbers (public address) to another. These integer numbers today are called Satoshis (in honor of), and the white paper does not mention the word bitcoin at all. The word "bitcoin" (when used used to represent the system's native token) is just a representation of an amount of satoshis, one bitcoin = 100.000.000 satoshis. You are correct in your assessment that all that is happening is that regular plain old integer numbers (satoshis) are being rearranged.

How you were able to understand this, and not understand anything else about how bitcoin (the network) operates, or how the systems protocol works, or how it can be used as an electronic payment system, or the implications this could have to the future of finance in this world, or why it is accruing value over time, is just mind blowing.

Something you are saying is wrong, in the White Paper, SN mention first, Bitcoin: A Peer-to-Peer Electronic Cash System . What Snowshow is writing is revealing his own identity.

[Itty Bitty]

Something you are saying is wrong, in the White Paper, SN mention first, Bitcoin: A Peer-to-Peer Electronic Cash System . What Snowshow is writing is revealing his own identity.

You are correct, bitcoin as the native token is not mentioned.

[Snowshow]

Your post is amazing.

Almost everything you wrote is silly. Except somehow, some way, you understood what few people realize, that Nakamoto's system does nothing more than transfer integer numbers from one long string of letters/numbers (public address) to another. These integer numbers today are called Satoshis (in honor of), and the white paper does not mention the word bitcoin at all. The word "bitcoin" (when used used to represent the system's native token) is just a representation of an amount of satoshis, one bitcoin = 100.000.000 satoshis. You are correct in your assessment that all that is happening is that regular plain old integer numbers (satoshis) are being  rearranged.

How you were able to understand this, and not understand anything else about how bitcoin (the network) operates, or how the system's protocol works, or how it can be used as an electronic payment system, or the implications this could have to the future of finance in this world, or why it is accruing value over time, is just mind blowing.

I agree, truth can be silly to those that deny it. Regarding the rest, in my post I am describing asset redistribution scheme, not the system that people use to access it.

[Itty Bitty]

"But all they have, and see with their own eyes to have, are numbers next to their addresses"

When you wrote this for some reason I thought you were referring to UTXO's when you wrote "addresses", and that you had taken a deeper dive into bitcoin than I thought. I wonder why my brain translated things this way. Maybe because you took the time to write so many words, I must have figured surely this person had taken a deep deep deep dive to write so much. Oh well, my bad.

[Snowshow]

"But all they have, and see with their own eyes to have, are numbers next to their addresses"

When you wrote this for some reason I thought you were referring to UTXO's when you wrote "addresses", and that you had taken a deeper dive into bitcoin than I thought. I wonder why my brain translated things this way. Maybe because you took the time to write so many words, I must have figured surely this person had taken a deep deep deep dive to write so much. Oh well, my bad.

Like I already said, I don't care about the system through which people access the redistribution scheme. I'm just describing the latter. I don't have to dive into anything to know that when I give someone my money and get number written next to my address I just participated in an instance of asset redistribution, and not in a market transaction.

[franky1]

*nonsense statements about some other system he seen/played with/used/in his mind, that has nothing to do with bitcoin but in his mind is called bitcoin*

you have wasted many months on your "just a number" idiocy..

but now reading your latest attempt.
you have so many things wrong in just this one paragraph alone

People register in the system and get virtual addresses. These addresses identify system users, something like phone numbers or email addresses. Then, the system sends numbers to the addresses of users who invest electricity to maintain the system (the so-called "bitcoin miners"). The rule behind the sending is this: "more electricity - bigger number".

people using the actual bitcoin network do not register into a system to then be given a virtual address
you have absolutely no clue.. so i am thinking that someone showed you a altnet of a completely different system they made up.. , that they called bitcoin(brand stealing). and for months you have been describing that altnet..
.. because its clear to see you are not talking about the actual bitcoin network

if only you took those many months to actually learn about bitcoin, the actual bitcoin network. rather than just make pages of posts about something that you made up in your head or a altnet someone else made.. (that doesnt even describe how bitcoin works /functions or is used).. you might then have something to talk about

but from reading about some system you talk about which you want to call bitcoin.. that version you talk about is not bitcoin. its just a fantasy in your head and nothing to do with bitcoin


here is a dumbed down version of how the bitcoin network actually works

initially devices do hard calculations of a batch/pack/block of data (the data being a blocktemplate) in which this calculation produces an ID of the block that can only be correct if it has gone through many processes to find a sequence for the ID that meets a difficulty level required of the calculation
and also meets other strict rules.
these calculations have a real cost of time and electric and device costs, etc.

inside this blocktemplate data. the person who produced a ID that met the rules also had to put an allotment of units(sats awarded) which when everyone else sees that blocktemplate and the block ID that meets the difficulty requirement and is a representation of the block AND meets the rules.. they deem it to meet the rules and a valid block. thus a valid reward.
to award the block ID creator

now that winner did not register his name to get an address to associated the allotments of units to. .. what he done was create his own unique private key (varying methods) which then using cryptography creates a public key..
he does not need to register this to his own name.
instead by just having (in secret) the private key. he can produce a signature that proves he created the public key without needing a register to prove who owns which address.

so by assigning the reward to the public address. he gains control over what happens to the rewarded units because now only the person with the private key of that public address can sign over control of the units to a different address. by making a movement order request(transaction) that is signed using a secret only he knows. but can be proved via math and cryptography without revealing the secret.

when being rewarded units(sats) people can then sign some/all of their assigned units to other people.

because it cost actual electric to create the units initially people put a price on the cost of creating them units. and people started to sell the units.

those buying the units had a cost of buying the units and so when they decide to give the units to others they do so by selling the units to other people because there is a real cost of acquiring units.

and eventually more and more people have sats assigned to their addresses. and then only they can move the units assigned to their address to other peoples address

a bitcoin(btc) is an allotment of 100,000,000units(of sats)
much like a tonne is a allotment of 1,000,000units (of grams)

once you understand the complex and costly things involved you start to understand the value creation aspect of the units.

people cannot just create new units for free.
people cant move random units not assigned to them.(they cant spend units they have not acquired)

[moderator's note: consecutive posts merged]

[Snowshow]

*nonsense statements about some other system he seen/played with/used/in his mind, that has nothing to do with bitcoin but in his mind is called bitcoin*

you have wasted many months on your "just a number" idiocy..

but now reading your latest attempt.
you have so many things wrong in just this one paragraph alone

People register in the system and get virtual addresses. These addresses identify system users, something like phone numbers or email addresses. Then, the system sends numbers to the addresses of users who invest electricity to maintain the system (the so-called "bitcoin miners"). The rule behind the sending is this: "more electricity - bigger number".

people using the actual bitcoin network do not register into a system to then be given a virtual address
you have absolutely no clue.. so i am thinking that someone showed you a altnet of a completely different system they made up.. , that they called bitcoin(brand stealing). and for months you have been describing that altnet..
.. because its clear to see you are not talking about the actual bitcoin network

if only you took those many months to actually learn about bitcoin, the actual bitcoin network. rather than just make pages of posts about something that you made up in your head or a altnet someone else made.. (that doesnt even describe how bitcoin works /functions or is used).. you might then have something to talk about

but from reading about some system you talk about which you want to call bitcoin.. that version you talk about is not bitcoin. its just a fantasy in your head and nothing to do with bitcoin

I don't know what you're talking about. You're responding to my post but write some random stuff.

In my opening post I am describing how Nakamoto lied about their system creating and transacting with electronic coins. There are no coins in the system. Nakamoto could as well claimed: "we define Ferrari as a chain of digital signatures". Users would still get only numbers next to their addresses. This is all that user have, see and manage. Numbers. There are no coins in the system, no Ferraries, nothing. One can put on paper whatever they want. It's just words.

I am also describing how people use Nakamoto's system for accessing an asset redistribution scheme. I have nothing against that. You can do whatever you want with your money. I am just refuting false narratives.
 

here is a dumbed down version of how the bitcoin network actually works

initially devices do hard calculations of a batch/pack/block of data (the data being a blocktemplate) in which this calculation produces an ID of the block that can only be correct if it has gone through many processes to find a sequence for the ID that meets a difficulty level required of the calculation
and also meets other strict rules.
these calculations have a real cost of time and electric and device costs, etc.

inside this blocktemplate data. the person who produced a ID that met the rules also had to put an allotment of units(sats awarded) which when everyone else sees that blocktemplate and the block ID that meets the difficulty requirement and is a representation of the block AND meets the rules.. they deem it to meet the rules and a valid block. thus a valid reward.
to award the block ID creator

now that winner did not register his name to get an address to associated the allotments of units to. .. what he done was create his own unique private key (varying methods) which then using cryptography creates a public key..
he does not need to register this to his own name.
instead by just having (in secret) the private key. he can produce a signature that proves he created the public key without needing a register to prove who owns which address.

so by assigning the reward to the public address. he gains control over what happens to the rewarded units because now only the person with the private key of that public address can sign over control of the units to a different address. by making a movement order request(transaction) that is signed using a secret only he knows. but can be proved via math and cryptography without revealing the secret.

when being rewarded units(sats) people can then sign some/all of their assigned units to other people.

because it cost actual electric to create the units initially people put a price on the cost of creating them units. and people started to sell the units.

those buying the units had a cost of buying the units and so when they decide to give the units to others they do so by selling the units to other people because there is a real cost of acquiring units.

and eventually more and more people have sats assigned to their addresses. and then only they can move the units assigned to their address to other peoples address

a bitcoin(btc) is an allotment of 100,000,000units(of sats)
much like a tonne is a allotment of 1,000,000units (of grams)

once you understand the complex and costly things involved you start to understand the value creation aspect of the units.

people cannot just create new units for free.
people cant move random units not assigned to them.(they cant spend units they have not acquired)

This is not how bitcoin works. This is how Nakamoto's system manages numbers. I can now describe you in detail how SMS system manages text messages. But that would be completely off topic. The same as your post.

[Boakse]

Your Dogma blinds you...

Good Luck

[DigitalMonk]

Satoshi Nakamoto is reading your Post,  Dr Snowshow. He is just saying, what is the problem with Snowshow, who is scared to come to the Forum with his real name, instead using a fake name and writing all nonsense for many months. Nakamoto is saying, Snowshow is accusing me as liar. If some one accused someone as liar in a public forum is offensive. Snowshow might be banker, who thinks his fiat banking is going lose financial power because of mass Bitcoin adoption soon, so he is trying his best attack Satoshi Nakamoto. He might be sponsored by one of banking Elite or he might be Mr Warren Buffet disguising as Snowshow and posting all nonsense over period of times.

I think, Satoshi Nakamoto needs to reavel his identity to take Dr Snowshow to the High Court. Snowshow thinks using a fake ID will protect him from being caught up. That is not the case. Frankly has tried his best over many months to educate Dr Snowshow but he does not want to learn. It will two minutes for Satoshi to find your IP and real identity. Remember Satoshi Nakamoto is a benevolent God of Money. His duty is to make sure that new weather should be redistribute justifiably. He is very much tolerant person so, may forgive your offense against him.

[kasunrandil]

if the bitcoin is not real , fiat money also just peaces of paper which was printed a value on it. maybe you are thinking bitcoin is not real because it cannot be touched or seen. bitcoin is for future and the future of payments , money , and financial system. see the future and ignore the nonsense.

[franky1]

snowshow

if your months of blab about that satoshi promised a coin
and you're waiting for a physical metal disk that has a face of some well know person engraved onto to.
then you really are going to have a long wait.

because if all of your knitpicking of saying that bitcoin doesnt work because you expect a metal circle disk. then you have missed out on alot of things about what bitcoin actually is

as for your endless rants about "a number". you are ignoring all the cryptography about ownership security and proof of possession control.

you are also forgetting the COST of acquiring the units

[casinotester0001]

Satoshi Nakamoto is reading your Post, ...

Maybe Satoshi Nakamoto himself created this thread to make the world know:
You can say whatever you want about Bitcoin ... Bitcoin won't fail, never.
Bitcoin will flip the monetary world as we know it ... just wait and watch ... or contribute ... your choice, you're free.

- just thoughts -

[Snowshow]

Satoshi Nakamoto is reading your Post,  Dr Snowshow. He is just saying, what is the problem with Snowshow, who is scared to come to the Forum with his real name, instead using a fake name and writing all nonsense for many months. Nakamoto is saying, Snowshow is accusing me as liar. If some one accused someone as liar in a public forum is offensive. Snowshow might be banker, who thinks his fiat banking is going lose financial power because of mass Bitcoin adoption soon, so he is trying his best attack Satoshi Nakamoto. He might be sponsored by one of banking Elite or he might be Mr Warren Buffet disguising as Snowshow and posting all nonsense over period of times.

I think, Satoshi Nakamoto needs to reavel his identity to take Dr Snowshow to the High Court. Snowshow thinks using a fake ID will protect him from being caught up. That is not the case. Frankly has tried his best over many months to educate Dr Snowshow but he does not want to learn. It will two minutes for Satoshi to find your IP and real identity. Remember Satoshi Nakamoto is a benevolent God of Money. His duty is to make sure that new weather should be redistribute justifiably. He is very much tolerant person so, may forgive your offense against him.

When you create a system that sends people numbers and you post publicly that it sends electronic coins, that's a lie. Because you know and you see that besides numbers next to their addresses, people get literally nothing else. If someone is capable to write a paper they are capable of assessing something like that as well.

But of course maybe the person or group behind Nakamoto identify was joking. And it's not Nakamoto's fault if people took the joke system seriously and started to give other people their electricity or other assets for numbers, or if they pushed the price of nothing up to the sky. That's just the nonsensical behavior of people that obviously like modern access to traditional asset redistribution schemes.

But anyway, I changed the world "lie" to "nonsense". I don't know, maybe Bitcoin Whitepaper is indeed a joke or Nakamoto is completely ignorant of economics and they genuinely thought that money are numbers.

Regarding the lawsuit. Hahahaha. How old are you?

[Snowshow]

snowshow

if your months of blab about that satoshi promised a coin
and you're waiting for a physical metal disk that has a face of some well know person engraved onto to.
then you really are going to have a long wait.

because if all of your knitpicking of saying that bitcoin doesnt work because you expect a metal circle disk. then you have missed out on alot of things about what bitcoin actually is

as for your endless rants about "a number". you are ignoring all the cryptography about ownership security and proof of possession control.

you are also forgetting the COST of acquiring the units

Whatever, a person still owns no asset but just has number next to their address. And like I said. I am not interested in the system that manages numbers nor I care about people accessing asset redistribution scheme via this system. I am simply saying that they own no coins, no money, no asset, no commodity....

[pooya87]

Your confusion is very understandable, different people have different brain capacity and sometimes they can't fathom new technologies that revolutionize the world unless they are dictated about their usage by some centralized authority. Since bitcoin doesn't have that, nobody told you anything and you are not equipped to understand it on your own either.

What's interesting is your persistence in convincing others with your 368 witless remarks for the past 5 months.

[Snowshow]

Your confusion is very understandable, different people have different brain capacity and sometimes they can't fathom new technologies that revolutionize the world unless they are dictated about their usage by some centralized authority. Since bitcoin doesn't have that, nobody told you anything and you are not equipped to understand it on your own either.

What's interesting is your persistence in convincing others with your 368 witless remarks for the past 5 months.

There's nothing revolutionary in people sending each other numbers via Nakamoto's system. There's only a giant waste of resources. It's not my fault if you believe in bitcoins but see only numbers and you're pissed off because of that. So there's no need to insult me. The problem is in you beliefs, not in me. I am helping you to see the truth and to wake up from collective delusion. You should say: "thank you" instead of insulting.