The main reason was to create a decentralized network to support a currency. By creating a decentralized network, satoshi made sure that governments can never directly make changes such as increase bitcoin production or stuff like that.
Instant transactions (not to be mistaken with instant confirmations!) are also a very important part of bitcoin. Coupled with relatively low fees (they have been increasing due to block size limits), makes transfering money around the world easy and cheap.
It also empowers the users as you now fully control your funds. This is both good and bad, especially with the high number of computer virusses and trojans going around. One has to be really careful how you treat your computer and protect your bitcoins. I would advise a hardware wallet like a trezor.
Topic: Apart from earning BTC, What is BTC upto? - page 2. (Read 1090 times)
bitcoin has created a way to transfer money peer to peer without the need to any third party (except miners) like banks which makes it decentralized too and do this process super fast and with the cheapest fees possible while having the maximum security while doing it.
you should read in details on the bitcoin paper found on bitcoin.org
you should read in details on the bitcoin paper found on bitcoin.org
Hi Experts,
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
I suggest taking a look at a website such as this: https://bitcoin.org/en/ It will do a good job as far as showing you what BTC brings to the table. Some of it I think is rather obvious, other parts are more subtle.
But starting reading with a site like that and then coming back with a more specific question I think we would be able to help you out a lot more. Current question is just very broad and so many different answers to it.
Hi Experts,
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
Bitcoin is money, such as money you've got now. of course the money is for buying and selling, and with bitcoin allows you to transact online quickly and with a cheap fee. And many people use bitcoin for investment too. Thank you
Hi Experts,
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
I really love BTC and its benefits. I would like to know, why and for what the BTC was brought to the screen. What is it really up to? and the goal of creating this?
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