I dont think Satoshi created Bitcoin

money doesn't go into or out of bitcoin. it is a zero sum Ponzi scheme. its 'price' is just a measure of how much wealth one wants to transfer to another person already playing in the game. when no one wants to play anymore its price will be zero. and you can't hang it on your wall, or feed your dog with it, or put it in a vase. it is the largest most extraordinary game of financial chicken the world has ever seen. the idea that there always will be a price greater than zero because it somehow has some intrinsic value is just wrong. so when the price of bitcoin goes to zero there will be no tidal wave of money coming out. it will just be a recognition that the wealth transfer is over and the folks holding the bag have nothing and it will not affect those already out of the game in the least. they will have already won.

of course all the people playing the game or trying to be compensated for facilitating the game will create any sort of mechanism to promote the game. but that misses the point. the fundamental transaction is a transfer of wealth from someone not in the game to someone that is. all that transaction does is transfer some amount of real wealth from a non-player to a player so that the non-player is now a player and the previous player is out of the game. how much wealth was transferred to play is the price."

>>60750708
nope. try again sweetheart. they're restructuring the entire credit economy on top of bitcoin & the bailouts are going to pump bitcoin when it tries to gap-crash via creditor acquisitions by central banks

>>60750708
That's how the value of anything works dipshit redditer. Nothing has inherent value, it's value is based on market forces, and when market demand no longer exists for something it no longer has value. That doesn't make things pOnZi sChEmEs...

>>60750708
Bitcoin is money with it's own self sustaining system built into it. Nothing else like it. Transacts without central backing. Valuable.

finkle is einhorn

>>60750713
>>60750714
>>60750723
Cope harder baggies

What do you guys think about RocketPool (RPL)?

>>60750714
>Nothing has inherent value
How much bitcoin was used to make your phone and computer? Ok, now how much gold?

>>60750713
>>60750714
>>60750723
Why are you responding to pasta?

>>60750714
Bitcoin is neither a traditional ponzi or a traditional pyramid, but it has may of the features of both.
It has no intrinsic value, as opposed to, let's say a car fixing business, a farm, or a mine.
>>60750723
Crypto failed to become money the moment it turned into a speculative mania.

>>60750739
The instrinsic value is novel way Bitcoin is able to transfer value around. People like to get way too complicated with this. It's digital "money" that functions essentially on its own. At a glance that doesn't seem crazy, think about it deeper and it's valuable.

>>60750748
Thea's complete nonsense, because it does not function like money and nobody is using it like money.
Also, blockchain ledgers can exist without Bitcoin, ETH or whatever "coin" is the flavour of the day.
It's a game of musical chairs, in which greedy fools and scammers try to find more greedy fools to sell to, with the promise that there will be even more fools in the future.

>>60750752
It isn't nonsense, just the simple fact. I never said Bitcoin was perfect "money" but that's where the instrinsic value comes from.

>>60750708
the nociner bots are retarded af

>>60750756
That's not how intrinsic value works, though. Especially if you need a global network of cables and cell towers full of real materials with actual intrinsic value

>>60751297
Indeed, crypto is not just worthless, it's negative value.
All of that infrastructure and energy is wasted on gambling and grift.
On the bright side, it may be reusable in the future, but the tulip... I mean, crypto mania can continue much longer.

>>60751297
So I suppose a car does not have value because it needs gasoline and roads? I guess precious metals would also be worthless considering they need industrial mining and processing to be obtained as well?

>>60752407
When you take the gas and road access away from a car you still have an automobile and if anything an engine. If you take thr network away from bitcoin way do you have?

>>60752589
you can’t take the network away, that’s the whole point of distributed technology lol

>>60750708
The demand for a decentralized ledger is closer to $infinite than $0.

>>60752827
Lololololol

>>60752877
are you heaving a stroke?

>>60752891
Lol you actually believe the internet is uninterruptible

>>60752873
All the real world applications of blockchain ledgers have nothing to do with the crypto gambling scam and do not depend on it.
The technology is open, practically free and can be replicated ad infinitum.
Nobody needs your coins.

>>60752589
>You still have an engine
Which won't run or do anything.

>>60753000
even in the hypothetical scenario that internet collapses everywhere at once, it’s obvious that you really don’t understand what bitcoin is and how it works. link below describes how to maintain the chain up to date and broadcast transactions via EM waves. you can also compute hashes by hand if you’re crazy enough, or send and receive transactions via regular mail.

>>60753218
https://gotenna.com/blogs/blockchain/the-cypherpunks-tapping-bitcoin-via-ham-radio

>>60750731
it just got SEC clarity for liquid staking

>>60750735
inherent means despite external conditions
your computer uses silica, but it's too abundant to be expensive, supply and demand
inherent means despite supply and demand, despite anything really
you don't know what the word means

>>60750752
>blockchain ledgers can exist without Bitcoin, ETH or whatever "coin" is the flavour of the day.
they can't
the self paying mechanism is the BFT
what you're describing isn't a blockchain, it's a pseudo-blockchain with trusted setups
that's why native tokens exist, to pay for block production without a trusted third party, you can't do it with external money

>>60753011
again, you don't understand why native tokens exist

you need to educate yourself before you come to /biz/ and humiliate yourself

>>60753372
Fucking idiot, crypto already failed as money.
So your example makes no sense.
Blockchain ledgers are not used for financial transactions in the few real world examples that have value beyond gambling.

>>60753372
It's still ctrl+c, ctrl+v stuff. I can set up bitcoin #2, I guess, if I cared. Crypto is still a joke. It's been 20 years and there is still no real usage of this new revolutionary money besides buying illegal drugs or money laundering. Get a fucking grip.

>>60753218
Lolololololololol or
>hold a rock

>>60753570
ok you’re clearly retarded

>>60753011
apparently $billions need the coins

>>60753507
>Blockchain ledgers are not used for financial transactions
they should, decentralized validator sets don't grift 5% off every transaction like mastercard / visa

>>60750705 (OP)
>gov prints money
what else is new

>>60753530
No real usage?

Read the literature on the nakamoto institute website.

It gives lots of use cases some of those papers were written in the 80s and 90s

Smart contracts

Zero knowledge proofs

Digital cash

One world global currency

Your just not reading enough and dont believe things can be different from what your accustomed to.

>>60750705 (OP)
satoshi is jesus remember that

>>60750713
They are structuring everything on the notion that all those invested in bitcoin will lose everything. It's remarkable how much you have deluded yourselves into thinking your money is safe there, or that it's real money at all