A primer to Bitcoin and the Blockchain | Adam Winter | TEDxColumbus
- Thread starter Randy Boy
- Start date
How the scam works A to Z? Let's look at the video:
1. The con artist starts out with a false equivalence, omitting the profound difference that government backed fiat currencies have legal value from their status as legal tender that pays taxes and discharges debt.
2. The con artist calls BTC a "coin" and a "currency" even though it's neither. The con artist talks about "value" in BTC even though it's an intrinsically worthless digital token that nobody needs.
3. The con artist confuses these profound issues by quibbling about some technology that in the form of the Bit"coin" network cannot do anything else but transfer worthless made-up digital tokens. That's all the network does.
4. The con artist omits the fact that 5% of BTC's market cap is spent on power each year, excluding the cost of the hardware. The con artist omits the fact that therefore, BTC would die of its own weight were it not for the influx of conned new fools entering the scheme.
5. The con artist understands the above and the need to spread Bit"coin" propaganda to constantly attract greater fools for his own personal gain.
1. The con artist starts out with a false equivalence, omitting the profound difference that government backed fiat currencies have legal value from their status as legal tender that pays taxes and discharges debt.
2. The con artist calls BTC a "coin" and a "currency" even though it's neither. The con artist talks about "value" in BTC even though it's an intrinsically worthless digital token that nobody needs.
3. The con artist confuses these profound issues by quibbling about some technology that in the form of the Bit"coin" network cannot do anything else but transfer worthless made-up digital tokens. That's all the network does.
4. The con artist omits the fact that 5% of BTC's market cap is spent on power each year, excluding the cost of the hardware. The con artist omits the fact that therefore, BTC would die of its own weight were it not for the influx of conned new fools entering the scheme.
5. The con artist understands the above and the need to spread Bit"coin" propaganda to constantly attract greater fools for his own personal gain.
"5. The con artist understands the above and the need to spread Bit"coin" propaganda to constantly attract greater fools for his own personal gain."
I don't own any crypto at the moment, but I love that technology and the concept.
Just wanted to share the knowledge with others on how it works - block chain and stuff.
People have laughed at Internet early days that's what humans are.
I see huge potential in crypto and block chains.
World is moving to those technologies. Newest trend is NFTs.
With NFTs, people will embrace those technologies and that will strength the existence of those technologies.
Neither strongest nor wisest will be available in the future, Only the ones who accept the change
will be.
First of all we have to got to know about all of them.
I don't own any crypto at the moment, but I love that technology and the concept.
Just wanted to share the knowledge with others on how it works - block chain and stuff.
People have laughed at Internet early days that's what humans are.
I see huge potential in crypto and block chains.
World is moving to those technologies. Newest trend is NFTs.
With NFTs, people will embrace those technologies and that will strength the existence of those technologies.
Neither strongest nor wisest will be available in the future, Only the ones who accept the change
will be.
First of all we have to got to know about all of them.
The con artist is promoting a currency that is also considered to many others as a "scam".
The con artist has probably made millions on this "scam" and is encouraging others to encourage others to join this profitable "scam"
The new con artists have made money on this "scam" and is encouraging even more investors to do the same.
Everyone has made money on this "scam" while more people are rushing to get in...
This "scam" has now helped millions of people with wealth and helped others send money to needy persons.
This "scam" has now accepted the title, "Store of Value"
The con artist has probably made millions on this "scam" and is encouraging others to encourage others to join this profitable "scam"
The new con artists have made money on this "scam" and is encouraging even more investors to do the same.
Everyone has made money on this "scam" while more people are rushing to get in...
This "scam" has now helped millions of people with wealth and helped others send money to needy persons.
This "scam" has now accepted the title, "Store of Value"