Why is Bitcoin the Dumbest Thing Ever Invented

[JamesNZ]

Even smart people can have dumb ideas. Satoshi Nakamoto proposed a dumb idea. People feel for it because they saw it as a get-rich-quick scheme. Sure, you hava a distributed database. But empty units that are stored in it are not coins, money, currency or an asset. Proposing something like that was the dumbest thing ever.

Well... as long as it works, right?

What intrigues me, though, is if you think Bitcoin is dumb, why are you still here?  You've been doing this for quite some time now – how long has it been? So by your argument, you are at least as dumb as some of us here. Maybe even more, because some of us have actually made some profit investing in Bitcoin over the years. Have you? 

I like to debunk popular myths. It's my hobby. Most of the people that I know don't care about Bitcoin nor they want to discuss it. Only in places like this it make sense to post critically or otherwise about it. So...

[Haunebu]

It's pretty evident that you are a troll who gets off on rubbing people the wrong way thanks to your trust ratings which say everything about you op. I find it cute that you are trying so hard to convince forum members that Bitcoin sucks.

You should rename this thread as 'Why am I dumb?' instead op since it's a more accurate representation of what you are trying to convey here.

[NASdaq]

Bitcoin have value now. It represents electricity behind it at least. And already there are lending protocols, so it represent debt too. All that you wrote could be the right in beggining but not now already

[Webetcoins]

You really made a topic just to say that thing about bitcoin. Since you said that, you shouldn't be here on this forum if that's how you feel about Bitcoin. Because most communities on this platform are Bitcoin believers.

So does that mean all Bitcoin investors are dumb investors if that's the case for you, OP? Is that right? although I still understand you somehow because that's your opinion.

Majority of Bitcoin investors don't have a clue what Bitcoin is, that is, how dumb the whole thing is. They saw the rising price and just want to jump on the bandwagon. Majority of Bitcoin miners don't care if Bitcoin is dumb. They see that they can sell the units to the greater fools so they spend energy. When the pool of greater fools dries up then people will realize how stupid it was to follow the Nakamoto protocol.

I don't think they are that many because that is risky and many of us don't want to lose our hard-earned money. And just because a few are dumb, it does not mean that the whole are also like that.

There is nothing wrong with investing when the price is rising. Just take a look at those who do a DCA and once they are in, I'm sure that they will still take time to do a research about it while waiting for good things to happen and this makes them know what to expect and they will now know what to do in case those events occur. BTC itself is not dumb but it's genius because of how it works and what its properties. @bettercrypto BTC haters are here because they want to annoy us more.

[JamesNZ]

It's pretty evident that you are a troll who gets off on rubbing people the wrong way thanks to your trust ratings which say everything about you op. I find it cute that you are trying so hard to convince forum members that Bitcoin sucks.

You should rename this thread as 'Why am I dumb?' instead op since it's a more accurate representation of what you are trying to convey here.

No, a troll is someone who completely ignores the topic at hand and just talks about the person who created the topic.

[JamesNZ]

You really made a topic just to say that thing about bitcoin. Since you said that, you shouldn't be here on this forum if that's how you feel about Bitcoin. Because most communities on this platform are Bitcoin believers.

So does that mean all Bitcoin investors are dumb investors if that's the case for you, OP? Is that right? although I still understand you somehow because that's your opinion.

Majority of Bitcoin investors don't have a clue what Bitcoin is, that is, how dumb the whole thing is. They saw the rising price and just want to jump on the bandwagon. Majority of Bitcoin miners don't care if Bitcoin is dumb. They see that they can sell the units to the greater fools so they spend energy. When the pool of greater fools dries up then people will realize how stupid it was to follow the Nakamoto protocol.

I don't think they are that many because that is risky and many of us don't want to lose our hard-earned money. And just because a few are dumb, it does not mean that the whole are also like that.

There is nothing wrong with investing when the price is rising. Just take a look at those who do a DCA and once they are in, I'm sure that they will still take time to do a research about it while waiting for good things to happen and this makes them know what to expect and they will now know what to do in case those events occur. BTC itself is not dumb but it's genius because of how it works and what its properties. @bettercrypto BTC haters are here because they want to annoy us more.

There's nothing genius in managing empty envelopes, boxes or units. It is dumb. And spending huge amounts of energy on such managing is extremely dumb.

[CODE200]

If you think Bitcoin is dumb then why you're present on this forum? If you don't like the idea of Bitcoin and find it useless then I believe someone like you should not be part of the forum that's a place for Bitcoin community. You need some research I believe, no I think you may need some treatment so you can understand Bitcoin properly.

Probably to earn the anger and violent reactions of the people that are in this forum, that's what most trolls do, they see something that a lot of people enjoy and then they try their best to spoil the fun by making fun of the thing that everyone's enjoying it by crafting some elaborate bullshit that would raise the attention of those people and then they get their sustenance out of the madness of those people, how come people have already forgotten the precaution about not feeding the trolls because OP is exactly looking for your reactions.

[Mrbluntzy]

If you think Bitcoin is dumb then why you're present on this forum? If you don't like the idea of Bitcoin and find it useless then I believe someone like you should not be part of the forum that's a place for Bitcoin community. You need some research I believe, no I think you may need some treatment so you can understand Bitcoin properly.

Probably to earn the anger and violent reactions of the people that are in this forum, that's what most trolls do, they see something that a lot of people enjoy and then they try their best to spoil the fun by making fun of the thing that everyone's enjoying it by crafting some elaborate bullshit

It is not everybody that likes Bitcoin, there even people who hate Bitcoin outside the forum and you can no hold back the opinion of those people towards Bitcoin, the OP have just drop his own opinion which is an opinion that is as dumb as his topic, I can't understand what he is explaining on the other comments he has written on this topic. Every of the reasons drop is not even sensible enough to justify the title.

[JamesNZ]

If you think Bitcoin is dumb then why you're present on this forum? If you don't like the idea of Bitcoin and find it useless then I believe someone like you should not be part of the forum that's a place for Bitcoin community. You need some research I believe, no I think you may need some treatment so you can understand Bitcoin properly.

Probably to earn the anger and violent reactions of the people that are in this forum, that's what most trolls do, they see something that a lot of people enjoy and then they try their best to spoil the fun by making fun of the thing that everyone's enjoying it by crafting some elaborate bullshit

It is not everybody that likes Bitcoin, there even people who hate Bitcoin outside the forum and you can no hold back the opinion of those people towards Bitcoin, the OP have just drop his own opinion which is an opinion that is as dumb as his topic, I can't understand what he is explaining on the other comments he has written on this topic. Every of the reasons drop is not even sensible enough to justify the title.

Why do you people always repeat that idiotic "you hate Bitcoin" accusation? What are you trying to achieve?
Do I hate envelopes and boxes if I say that a postal service that transfers them empty is dumb, nonsensical or whatever? Really, what's the catch with that "hate" accusation?

[Alone055]

What are you trying to achieve?

Let me ask the same question to you. What are you trying to achieve exactly? What are your arguments about if you don't hate Bitcoin or think it is useless? Let's say you don't hate Bitcoin but you just think it is something not worth giving this much hype or importance or it is something completely useless, in either way, you are not going to gain anything by sitting in the forum created by the creator of Bitcoin and try and convince people about what your beliefs are because that is not going to work. So it's dumb of you to be trying to achieve that here. You can go preach what you are trying to prove here on some busy street and you might find a few people standing with you among the crowd but that is barely going to happen here, my friend.

Besides, if you think Bitcoin is useless or whatever, do you believe that companies and firms such as MicroStrategy, Grayscale, Blackrock, Microsoft, Tesla, and many more along with their owners and management are a bunch of fools being interested in something useless?

[odoh]

This statement cant be true, bitcoin is a great gem.

[peter0425]

Why do you people always repeat that idiotic "you hate Bitcoin" accusation? What are you trying to achieve?
Do I hate envelopes and boxes if I say that a postal service that transfers them empty is dumb, nonsensical or whatever? Really, what's the catch with that "hate" accusation?

Because the opposite of like is hate. If you are expressing such comments that go against bitcoin then there must be a reason why. Where are you getting your information and opinion. I do get that not all people will be interested in bitcoin but it should be observed that they have the correct understanding of bitcoin so to avoid misconceptions.

[Tk smith]

Bitcoin is the dumbest thing ever invented.

If you think Bitcoin is dumb then why you're present on this forum? If you don't like the idea of Bitcoin and find it useless then I believe someone like you should not be part of the forum that's a place for Bitcoin community. You need some research I believe, no I think you may need some treatment so you can understand Bitcoin properly.

As for me Bitcoin is the greatest thing on earth anyone can achieve because it's has a great value I don't just know why you are rating low on Bitcoin if you know that Bitcoin is nothing then leave this forum or maybe you need someone to educate you about this greatest coin called Bitcoin so that you can have some great ideas about it

[Good_Doctor]

Given that units in the Bitcoin system are not created as debt, they are empty. They are containers that hold nothing. Often, people say that Bitcoin is simple and thus better than a complex banking system that manages fiat currencies. But of course Bitcoin is simple given that it manages empty units. Fiat currency units hold debt and managing debt is complex. It includes contracts, credit assessments, collaterals, foreclosures, etc. And this requires resources, both material and human. With Bitcoin, a guy just wrote a protocol that tells people: "You have 10 BTC units", "you have 0.5 BTC units", "you have 50 BTC units", etc. But units of what? Units of a company ownership? No. Units of something tangible like a precious metal? No. Units of something intangible like patents, copyrights or software licences? No. In the Bitcoin system people buy and hold units of literally nothing. Units that are empty. That is why it is so simple. Managing empty units is simple. But extremely dumb. Just like it would be managing empty envelopes and boxes in our hypothetical crypto-post. With Bitcoin, such managing even requires the consumption of enormous amounts of electricity.

That's because you might
just be the dumbest person to get into a forum that is meant to give knowledge to her members, and because you've chosen to start off with the wrong foot.

That's why Bitcoin is the dumbest thing ever invented.

This again is a dumb claim of course with time you'll understand you've wrongly related this amiable invention known as Bitcoin.

[JamesNZ]

What are you trying to achieve?

Let me ask the same question to you. What are you trying to achieve exactly? What are your arguments about if you don't hate Bitcoin or think it is useless? Let's say you don't hate Bitcoin but you just think it is something not worth giving this much hype or importance or it is something completely useless, in either way, you are not going to gain anything by sitting in the forum created by the creator of Bitcoin and try and convince people about what your beliefs are because that is not going to work. So it's dumb of you to be trying to achieve that here. You can go preach what you are trying to prove here on some busy street and you might find a few people standing with you among the crowd but that is barely going to happen here, my friend.

Besides, if you think Bitcoin is useless or whatever, do you believe that companies and firms such as MicroStrategy, Grayscale, Blackrock, Microsoft, Tesla, and many more along with their owners and management are a bunch of fools being interested in something useless?

In a discussion, the goal to achieve is to have valid arguments for the thesis you defend. What you people do is trolling. You engage in ad hominems, non sequiturs, red herrings, and idiotic accusation about hate. In the same time you completely ignore the thesis at hand.

Regarding the last. I didn't say that Bitcoin is useless, but dumb. Bitcoin is used as a get-rich-quick scheme, some kind of unit-based pyramid scheme. But as a concept it is dumb. It spends energy on managing empty units. If you wanna buy an empty box for $70K because you think someone else will buy it for $100K that's the scheme. But if someone spends enormous amounts of energy to run such a scheme that's dumb. Of course, calling that empty box a valuable asset, comparing it to gold, or suggesting it is the future of postal services is dumb as well.

[arwin100]

What are you trying to achieve?

Let me ask the same question to you. What are you trying to achieve exactly? What are your arguments about if you don't hate Bitcoin or think it is useless? Let's say you don't hate Bitcoin but you just think it is something not worth giving this much hype or importance or it is something completely useless, in either way, you are not going to gain anything by sitting in the forum created by the creator of Bitcoin and try and convince people about what your beliefs are because that is not going to work. So it's dumb of you to be trying to achieve that here. You can go preach what you are trying to prove here on some busy street and you might find a few people standing with you among the crowd but that is barely going to happen here, my friend.

Besides, if you think Bitcoin is useless or whatever, do you believe that companies and firms such as MicroStrategy, Grayscale, Blackrock, Microsoft, Tesla, and many more along with their owners and management are a bunch of fools being interested in something useless?

In a discussion, the goal to achieve is to have valid arguments for the thesis you defend. What you people do is trolling. You engage in ad hominems, non sequiturs, red herrings, and idiotic accusation about hate. In the same time you completely ignore the thesis at hand.

Regarding the last. I didn't say that Bitcoin is useless, but dumb. Bitcoin is used as a get-rich-quick scheme, some kind of unit-based pyramid schemes. But as a concept it is dumb. It spends energy on managing empty units. If you wanna buy an empty box for $70K because you think someone else will buy it for $100K that's the scheme. But if someone spends enormous amounts of energy to run such a scheme that's dumb. Of course, calling that empty box a valuable asset, comparing it to gold, or suggesting it is the future of postal service is dumb as well.

Expect receiving a lot of hate and call you for something you don't like since they don't like what they see since it sounds like you hate bitcoin then came here just to spread hate. So try to understand where they came from and open yourself for criticism since you brought up some discussion about bitcoin so expect some words that you don't like to here will come up. But I don't really think that bitcoin is easy rich scheme since there are so many struggles to face before we can earn this. Maybe there are some people spread some wrong information about it that's why those newbies think about bitcoin is get-rich-quick-scheme but in reality there's nothing like that exist in real world.

[Iranus]

~snip

~snip
 But I don't really think that bitcoin is easy rich scheme since there are so many struggles to face before we can earn this. Maybe there are some people spread some wrong information about it that's why those newbies think about bitcoin is get-rich-quick-scheme but in reality there's nothing like that exist in real world.

I think the phrase get rich quick was created because some people relied on the previous growth of bitcoin, bitcoin increased millions of times in just 10 years and no other asset could do that besides bitcoin. So maybe investing in bitcoin will help us get rich faster than other investments, but that doesn't mean getting rich from bitcoin is easy and quick. The journey of making profits from investing in bitcoin is not as easy as the OP thinks, only those who have gone through it can understand and to describe that difficult journey, a few words can never fully describe it.

OP, if you think investing in bitcoin can help you get rich quickly, please prove it to us, don't baselessly slander bitcoin.

[Gladitorcomeback]

Regarding the last. I didn't say that Bitcoin is useless, but dumb. Bitcoin is used as a get-rich-quick scheme, some kind of unit-based pyramid scheme. But as a concept it is dumb. It spends energy on managing empty units. If you wanna buy an empty box for $70K because you think someone else will buy it for $100K that's the scheme. But if someone spends enormous amounts of energy to run such a scheme that's dumb. Of course, calling that empty box a valuable asset, comparing it to gold, or suggesting it is the future of postal services is dumb as well.

We let you be with your thoughts and ideas and we will have our own. We can't and don't want to convince you that Bitcoin is something useful and worthy and you shouldn't try and do that with us because we feel your arguments are dumb and not Bitcoin or the fact that energy is being used to run it.

A lot of energy is used to produce a lot of products in the world, are all those products useless or is it dumb for the companies to be using so much energy only to create a materialistic thing such as a doll or anything in general which doesn't serve much purpose but is created because it is sold and they earn money for it. So your arguments don't really make much sense.

[JamesNZ]

What are you trying to achieve?

Let me ask the same question to you. What are you trying to achieve exactly? What are your arguments about if you don't hate Bitcoin or think it is useless? Let's say you don't hate Bitcoin but you just think it is something not worth giving this much hype or importance or it is something completely useless, in either way, you are not going to gain anything by sitting in the forum created by the creator of Bitcoin and try and convince people about what your beliefs are because that is not going to work. So it's dumb of you to be trying to achieve that here. You can go preach what you are trying to prove here on some busy street and you might find a few people standing with you among the crowd but that is barely going to happen here, my friend.

Besides, if you think Bitcoin is useless or whatever, do you believe that companies and firms such as MicroStrategy, Grayscale, Blackrock, Microsoft, Tesla, and many more along with their owners and management are a bunch of fools being interested in something useless?

In a discussion, the goal to achieve is to have valid arguments for the thesis you defend. What you people do is trolling. You engage in ad hominems, non sequiturs, red herrings, and idiotic accusation about hate. In the same time you completely ignore the thesis at hand.

Regarding the last. I didn't say that Bitcoin is useless, but dumb. Bitcoin is used as a get-rich-quick scheme, some kind of unit-based pyramid schemes. But as a concept it is dumb. It spends energy on managing empty units. If you wanna buy an empty box for $70K because you think someone else will buy it for $100K that's the scheme. But if someone spends enormous amounts of energy to run such a scheme that's dumb. Of course, calling that empty box a valuable asset, comparing it to gold, or suggesting it is the future of postal service is dumb as well.

Expect receiving a lot of hate and call you for something you don't like since they don't like what they see since it sounds like you hate bitcoin then came here just to spread hate. So try to understand where they came from and open yourself for criticism since you brought up some discussion about bitcoin so expect some words that you don't like to here will come up. But I don't really think that bitcoin is easy rich scheme since there are so many struggles to face before we can earn this. Maybe there are some people spread some wrong information about it that's why those newbies think about bitcoin is get-rich-quick-scheme but in reality there's nothing like that exist in real world.

And again. 'Spreading hate', another idiotic accusation. Spreading hate means communication of animosity or disparagement of an individual or a group on account of a group characteristic such as race, color, national origin, sex, disability, religion, or sexual orientation. Saying that spending enormous amounts of energy on managing empty units is dumb is not spreading hate. It's factually describing a behavior.

[JamesNZ]

Regarding the last. I didn't say that Bitcoin is useless, but dumb. Bitcoin is used as a get-rich-quick scheme, some kind of unit-based pyramid scheme. But as a concept it is dumb. It spends energy on managing empty units. If you wanna buy an empty box for $70K because you think someone else will buy it for $100K that's the scheme. But if someone spends enormous amounts of energy to run such a scheme that's dumb. Of course, calling that empty box a valuable asset, comparing it to gold, or suggesting it is the future of postal services is dumb as well.

We let you be with your thoughts and ideas and we will have our own. We can't and don't want to convince you that Bitcoin is something useful and worthy and you shouldn't try and do that with us because we feel your arguments are dumb and not Bitcoin or the fact that energy is being used to run it.

A lot of energy is used to produce a lot of products in the world, are all those products useless or is it dumb for the companies to be using so much energy only to create a materialistic thing such as a doll or anything in general which doesn't serve much purpose but is created because it is sold and they earn money for it. So your arguments don't really make much sense.

The key word here is "products". Yes, a lot of energy is spend on products, on something that people need. Not on empty boxes that will never hold a product and whose only purpose is to enable a pyramid scheme where people buy them for tens of thousands of dollars with expectation of selling them for hundreds of thousands of dollars.