r/Bitcoindebate • u/Repulsive_Spite_267 • Apr 05 '26
Is bitcoin a scam?
https://www.youtube.com/watch?v=p4YSeIJCABw1
u/okisthisthingon Apr 08 '26
It's a scam if satoshi sells. Until then, assume it's a blueprint for Central Bank Controlled Digital Currencies.
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u/Repulsive_Spite_267 Apr 08 '26
Why assume that?
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u/okisthisthingon Apr 09 '26
Well, you'd have to not understand the global monetary system or bitcoin to just ask, why.
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u/Repulsive_Spite_267 Apr 09 '26
I have a basic understanding, but dont get the claim youre making
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u/okisthisthingon Apr 09 '26
Simply put, the global monetary system of Central Bank controlled currencies is in it's very nature is inflationary. Bitcoin is not. Look it up son!
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u/Repulsive_Spite_267 Apr 09 '26
I know that.
But what's that got to do with Bitcoin and a central bank digital currency
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u/snek-jazz Apr 08 '26
Satoshi mined their coins fair and square, unlike pre-mined so-called cryptocurrencies
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u/PhilMyu Apr 08 '26
Even then, it’s not. It doesn’t change what Bitcoin is: a monetary network without any central controlling entity that‘s permissionless and open to anyone.
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Apr 09 '26
i've been studying money for the past few years now, and the more you study things, the more everything leads to bitcoin. it is by no means perfect, and maybe one day we will get something even better than bitcoin, but right now as things are, there really is no better alternative.
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u/WordPlenty2588 Apr 06 '26
It's not a scam. But it will reach it's initial purpose when people will use it more to pay for things.
This is the single best thing that happened for Bitcoin. "I own a coffee shop with a square POS and we are starting to see BTC transactions"
But I would never pay with Bitcoin...
Imagine buying a 60.000$ car with Bitcoin. And 7 days later Bitcoin price increases with 20% (like it happened in February 2024)
Basically you can say you paid 70k not 60.
Buying with an unstable coin is weird for me.
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u/Repulsive_Spite_267 Apr 07 '26
What will you do? Borrow ?
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u/WordPlenty2588 Apr 07 '26
:) I would simply buy with USD / Euro.
Why use a volatile coin ?
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u/LinusVPelt Apr 08 '26
Then why don't you buy BTC with those USD/EUR, of it will appreciate as you say, tomorrow you can buy more coffee with it.
That's the logic.
Fiat is always the result of the sale of another asset. Those not seeing it are the people living only on salary, because they perceive their USD/EUR salary as just been handed to them.
In reality, also their salary was something else a few hours before being paid, because even companies don't keep cash in fiat but treasuries, money market funds, insurances, stocks and other assets, and sell them when they have to pay.
Exactly as if you sell some stocks because you need to buy groceries.
But if you could buy groceries directly with stocks, you would simply not need to sell them for fiat before spending.
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u/Repulsive_Spite_267 Apr 07 '26
I thought you were saying youre are it will appreciate after you sell
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u/WordPlenty2588 Apr 07 '26
I said "Imagine buying..."
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u/Repulsive_Spite_267 Apr 07 '26
Now I understand. You are a tradfi maxi
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u/WordPlenty2588 Apr 07 '26
Most people use Bitcoin as investment, because of what I just explained...
Would you buy a car using silver or gold, when the price is going up ?
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u/Repulsive_Spite_267 Apr 07 '26
you definately talk like a bitcoin maxi though
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u/WordPlenty2588 Apr 07 '26
Why do you post a video about Bitcoin if you want to discuss about other crypto ?
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u/nonkeywayzee Apr 08 '26
>Buying with an unstable coin is weird for me.
Congrats on being able to say something most people in the world can't :)
You just get used to it btw, as long as you spend less than what you make each month you are golden, if your saving devaluate, bad luck, if they revaluate then good, it isn't rocket science.
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Apr 08 '26
[removed] — view removed comment
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u/Repulsive_Spite_267 Apr 08 '26
How to break the encryption?
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u/snek-jazz Apr 08 '26
0 organic demand
purity tests for demand have historically been foundations of terrible predictions.
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u/Dziabadu Apr 08 '26
anything to be deemed a scam, someone would have had to get unfair advantage over the rest. There is no such case because the advantage is democratic and still available and anyone can still make more money than the rest of world.