Are sats real?
If you mean a pattern in computer memory, they are not scarce.
If you mean the accounting unit, what are they counting?
Discussion
Are Oz real?
If you mean a pattern of atomic particles they are not scarce. There are tons of atomic particles. More than sats in fact! If you mean a mass unit then what are they weighing?
As dense as gold is you may be more.
He's just another goldbug troll, being scared of what #Bitcoin managed to do in mere 15 years.
I wouldnt call him a troll, his basis seems rooted in mises regression theorem, i dont agree with him but gold bugs are our closest cousins. Though he did seem to be confusing bitcoin with being a liability today, that one doesnt follow.
Bitcoin is (crypto)currency, not a liability
My problem with fiat is the nation-States divorced the real underlying asset from the currency.
Bitcoin is a currency that never had a real asset - essentially fiat from birth.
#Bitcoin is the asset. Recognized as a commodity for 8 years in the US. Keep coping
In the immortal words of 42nd President of the United States, William Jefferson Clinton, “it depends on what your definition of *is* is.”
Arguing whether #Bitcoin *is* real is pointless. What matters is what Bitcoin *does*.
If it's not real, then it does not do anything.
Imagine telling an atheist it doesn't matter whether God is real, it matters what God does. Do you think the atheist would find that convincing?
Imagine, being retarded, not understanding what decentralized money, nobody can fuck with, will do to your shiny rocks. Perhaps you already know that and that's the reason why you hate #Bitcoin this much.
"Gold is a pet rock"
"Gold is a barbarous relic"
"We only keep gold because it's tradition"
When you find yourself repeating the talking points of Paul Krugman, John Maynard Keynes, and Ben Bernanke, maybe you need to reconsider your stance.
Even in a hyperbitcoinized world gold would still be a scarce and useful material.
I said none of these three things.
Yes, gold will be used as material, not money as much. #Bitcoin has much better quality for that.
I also never said it's not going to be used. You're the one claiming that Bitcoin will die when the dollar does, remember?
I have not insulted your intelligence or insinuated that you are incapable of understanding an argument. Please be civil.
You argument is, #Bitcoin isn't real, buy my shiny rock.
I'm not going to, sorry. We want to separate money & state and that's impossible with gold because we'll end up in the paper world again.
If yome up with your ridiculous claims again, expect some insults. 🤙💜
I don't want people to buy gold, I want them to sell dollars
My problem with the paper world is the value isn't real - the "money" (actually currency) is just a meaningless token. How does Bitcoin improve on that?
I don't want them to sell dollars, I want the to start earning #Bitcoin
My problem with the paper world is elite keep printing more of it. Bitcoin is set to 21m and never cross that number. That's one of many reasons why it has value. You don't see it? I'm so sorry for you.
So if they could credibly claim to stop printing you would be fine with fiat?
I would not.
Read my note again, 'one of the reasons'.
Also, credible claims are based on trust. I don't trust whomever 'they' are. #Bitcoin is trustless system, that's why it's better than fiat or gold standard. That's why it's the only thing that can separate money & state so we don't have to trust 'them'.
#Bitcoin isn't real like the note you just posted isn't, but we already have been there, boomer. Remember?
I'm not surprised why so many people got you on mute, I'm pretty close too. Your coping is as ridiculous as your claims.
There rai stones of yap had no industrial case yet were a functional money until their supply could be inflated. You can say its not real, even though it takes real work to create, but im skeptical that this matters. What about individual use case? I bought my vpn sub with bitcoin, there is no other feasable way to anonymously get a vpn subscription, thats useful to me.
Does regression really take precedence over monetary properties? With bitcoin i can send it across borders to someone ive never met, know that the transaction is secure, while preserving my privacy, and knowing that the quantities are a fraction of a fixed supply. Those qualities will never be replecated in fiat, they cant be copy/pasted to another shitcoin, and I cant see any way theyd ever be replecated in gold. Yet, none of that matters because I cant put it in a machine as a raw material, none of those other use cases matter compared to melting it down to make a computer chip?
Yes, monetary regression matters more than the currency mechanics in the long run.
Go ahead, create just 5 more #sats and send them to my wallet. If they aren't a part of the 21 million #Bitcoin, the sats will never be accepted. Tell me how not scarce are they again.
As I said, ridiculous claims 😆
You're not paying attention to detail.
When you say "send me the sats" would you be satisfied if I sent a flash drive with the existing blockchain on it? Strictly speaking I've sent you ALL the sats.
I suspect not.
You're not talking about sats as a real entity in computer memory, you're talking about sats as accounting units (which I am saying do not exist).
I can run all the nodes I want without thereby duplicating into existence more sats. But the "sats" are real in *only* this sense - as entries in computer memory. The scarce "thing" you are trading doesn't exist. What exists is a record that can be duplicated independently of how much Bitcoin it records (ie the Bitcoin is not scarce in this sense).
A helpful comparison is the (hyperinflated & abandoned) Weimar Reichsmark, which sells for more than zero as a historical document but has zero value as a currency. Because of this, the 10 trillion mark note sells for approximately the same as the 10 thousand mark note, not a million times as much.
Yes, currently the accounting units of Bitcoin trade for more than zero real goods. This is true also of US "dollar" accounting units, which are equally fiction.
You are not paying attention to detail.
#Bitcoin is limited to 21 million coins. The records of all the #sats doesn't mean it isn't scarce.
There's one Eiffel Tower, millions of records, many copies. Yet there's still only one true Eiffel Tower.
Are you going to send me the sats you ve created and prove the whole world that Bitcoin isn't scarce or not? Talk is cheap.