Article: Why Bitcoin is the Most Nonsensical Thing Ever

[theCommittalist]

Well what we don't hold is pieces of paper that can easily be stolen, & burnt. Or pieces of metal that can easily be forged into a cutting implement for troll removal.

Our trade consensus & storage of value is far more secure, far more difficult to grasp, as you clearly demonstrate, & therefore far more difficult to snatch at. You will see the light some day, padowan. You will stop reaching for grubby materials & accept the might of the capital idea

[Snowshow]

Well what we don't hold is pieces of paper that can easily be stolen, & burnt. Or pieces of metal that can easily be forged into a cutting implement for troll removal.

Our trade consensus & storage of value is far more secure, far more difficult to grasp, as you clearly demonstrate, & therefore far more difficult to snatch at. You will see the light some day, padowan. You will stop reaching for grubby materials & accept the might of the capital idea

Yes, a car can be stolen, a house burned, land confiscated, a lottery ticket lost. But in the Bitcoin scheme, non of that can happen because there's nothing to steal, burn, confiscate, or lose. You have nothing. You enter a chain distributor scheme, supply an old participant with resources, and then wait for a new participant to do the same thing for you.

[Henrobakkara]

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.

I am guessing from your comments you must be liking Fiat currency. Let's look at it, all Government across the world as most have argued too, printed some dead people on a piece of paper and tells you it is worth X and Y value and you agree with that but Bitcoin is difficult for you to understand and if the same Government for any reason tells you for the same X and Y reason, that, that printed paper has lost value you still agree to it. I wonder what is more of a false narrative.

[topman21]

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/

Bitcoin is still illogical to humans. Some people don't even know what Bitcoin actually is.To them, Bitcoin is actually an absurd business.We all need to be aware of Bitcoin in real terms Bitcoin will one day make sense to everyone if everyone knows what Bitcoin is.

[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.

I am guessing from your comments you must be liking Fiat currency. Let's look at it, all Government across the world as most have argued too, printed some dead people on a piece of paper and tells you it is worth X and Y value and you agree with that but Bitcoin is difficult for you to understand and if the same Government for any reason tells you for the same X and Y reason, that, that printed paper has lost value you still agree to it. I wonder what is more of a false narrative.

When people count or mark objects in mathematics, products in factories, goods in stores, debt in banking system, outcomes in lottery... they use numbers that are written digitally or on paper. There's nothing wrong with using paper. Or numbers.

In bitcoin, numbers are also used. But not for counting something. Numbers are simply created out of thin air and as such they tricked uneducated and naive people into a chain distributor scheme where they think they own some magical coins in the quantity of numbers attributed to their addresses. But they own nothing. You will find out what that means one day. In the meantime, go read some more conspiracy theories about evil banks.

[theCommittalist]

Well what we don't hold is pieces of paper that can easily be stolen, & burnt. Or pieces of metal that can easily be forged into a cutting implement for troll removal.

Our trade consensus & storage of value is far more secure, far more difficult to grasp, as you clearly demonstrate, & therefore far more difficult to snatch at. You will see the light some day, padowan. You will stop reaching for grubby materials & accept the might of the capital idea

Yes, a car can be stolen, a house burned, land confiscated, a lottery ticket lost. But in the Bitcoin scheme, non of that can happen because there's nothing to steal, burn, confiscate, or lose. You have nothing. You enter a chain distributor scheme, supply an old participant with resources, and then wait for a new participant to do the same thing for you.

Right, willing participants, so you are beginning to conceive of the idea of consensus & why the trust relationship inherent in economy as we know it is superior to anarchy, banditry, feudalism & barter. So once you get your head around the real nature of capital exchange, that it has very little to do with pieces of paper & metal, & everything to do with tacit agreements & social contracts that consent in good faith to a system of value exchange, you might now start to understand what decentralization in the internet age means, & stop wetting your bed because your banker daddy isn't going to carry quite the same social mystique he once did. Things improve, people exploiting the old ways lose out, get over it.