- This topic has 11 replies, 1 voice, and was last updated 4 days, 8 hours ago by Double-LR.
- Monday, November 21st, 2022 at 23:20 #408388BlockingPersonParticipant
So I had a short debate with my programming teacher today, because he says that BTC is a scam. The main points that he brought up were that:
A. A decentralized currency cannot be trusted, because it can easily be used to scam the people who use it. (He used Bernie Madoff as a example when talking about scams, amongst other examples, such as FTX)
B. BTC cannot be called/used as a currency because of its volatility. He made the claim that a currency must have a stable value.
C. He repeatedly brought up the point that “Young people are stupid… they don’t know enough to see a scam coming” (Direct Quote)
D. A point used against BTC was showing returns if you invested in November of 2021 until today, you would’ve lost 77% of your investment
What points can I bring up to debate him on this tomorrow? I’m trying to get points to defend bitcoin, and show that a Centralized FIAT currency isn’t as amazing as he is claiming it to be.Monday, November 21st, 2022 at 23:24 #408389llewsor
quote the white paper, it addresses pretty much all of your points.Monday, November 21st, 2022 at 23:25 #408390Hot_Necessary_2618
Fiat isn’t stable,it only appears to be,show him the chart of how much USD has dropped in value of the years.Monday, November 21st, 2022 at 23:26 #408392ImLinker
If you have a family member in another country that has an emergency and all they have is an internet connection and device, you could send them as much bitcoin as you could afford without having to involve banks or anything except you and the family member.
Bitcoin can never be brought down by a single authority or group.
“A currency must be stable!” What is our inflation rate at this year again???Monday, November 21st, 2022 at 23:40 #408394B1ggusDckus
A. Doesn’t make any sense. Madoff used a centralized currency to scam, FTX used centralized currencies to scam. Both have nothing to do with BTC and do not prove his point. -> Whataboutism
B. I agree with him here, I do not see bitcoin as a currency but as a store of value like gold. Gold has also a high volatility.
C. That’s not a point that’s an insult. ->Whataboutism
D. And if you would have invested in 2010 you would have 10000gazillion% profit. What is the actual point he is trying to make here? ->Whataboutism
I think your teacher has absolutely no clue about bitcoin and before you try to convince him or even engage in a discussion I would make sure he at least understands the basics what he is talking about.
Maybe you can ask if you can give a presentation about “blockchain” and try to get the basics of bitcoin straight. How does POW works? What is a private/public key? What is an address? How many priv keys exist and if you would guess 1000 a day how many days would it take to find one with actual UTXO on it etc.Monday, November 21st, 2022 at 23:41 #408391bitsteiner
* A. Bitcoin never claimed to need trust. Users can verify on their own.
* B. Stable value and market capitalism is an oxymoron. Nothing can have stable value as long as there are functioning markets to moderate supply and demand.
* C. Evidence shows otherwise. Madoff scam is the best example (he contradicts himself).
* D. This is cherry picking. I can pick 100s of cherries proving the opposite.Monday, November 21st, 2022 at 23:50 #408395Independent_Map6829
Ask him if he can transfer 100 million dollars in 5 minutes with a 5$ fee anywhere in the world at his bank. To transfer even 10k you will be interrogated at the banks and it would take a week+. You cannot send currency electronically without relying on some sort of trust, whether it be a bank, paypal, Interac. Everyone who uses these platforms rely on trust. & there is a huge lack of privacy when using these platforms. Bitcoin is fully peer to peer trust-less system.
Let me guess. Your professor is closing in on the senior age? These people are stuck in their ways and honestly even if you presented bitcoin the best you could, he probably still wouldn’t change his mind. He has undergone 50 years of propaganda. He’s too far gone.
Good luck!Monday, November 21st, 2022 at 23:59 #408393wildmanfree
Sounds like you met a buttcoiner in the fleshTuesday, November 22nd, 2022 at 00:11 #408396eyrie88
A. Classic Fiat standard mentality. There’s a logical fallacy in that statement. So far the only crypto scams have all been perpetrated by CEXs.
B. 1 BTC = 1 BTC just as 1 USD = 1 USD. Look at the volatility of say USD to EUR over time. https://take-profit.org/en/volatility/forex/eur-usd/
C. Ad hominem
D. And what has inflation and QE done to Fiat over time? Same.Tuesday, November 22nd, 2022 at 00:24 #408397Mr_P_Nissaurus
You need to find a better school.Tuesday, November 22nd, 2022 at 00:37 #408398wolfofone
Don’t bother debating him. You aren’t responsible for him, his beliefs, or his emotions. Let him think what he wants and continue making your own choices.Tuesday, November 22nd, 2022 at 00:44 #408399Double-LR
Just send him to buttcoin. He will be far happier.
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