Topic: Bitcoin...was created for? (Read 3231 times)

RodeoX i think you have made the most intellectual comments. Your explanation are very clear and truly demonstrate that you know what you are talking about. Most people who comment just seem to be repetitive but don't have a clue what they are repeating. Knowing something is understanding and been able to explain in your own words.  
Very clear. Thanks !!!!!!..

how is this feeding a troll.. Comments like yours are totally unnecessary. If you dont like the post just skip it and carry on..

I'm not feeding the trolls, I'm feeding the minds of those who legitimately want to know more about bitcoin. Shout out to the negative trolls for creating this opportunity to spread the positive news.   

again

Those are some good questions. Fortunately they have all been answered years ago. Much can be understood if you know about "open source" software that is "distributed" over the internet.

Because it is open source, all code used to create the program is available to all. Totally different than almost all the software your used to. You wondered who was at the top of the Pyramid? In the code you can see that there is no pyramid, no bitcoin.inc., no official anything. Each of us is the bank, the customer, the payment processor, etc. When you use bitcoin there is no need for a 3rd. party, just the seller and the buyer. The tasks you used to use a bank for are distributed across the network of users.

The security of bitcoin is based on strong encryption. Because this makes bitcoin impossible to profitably counterfeit, there is growing demand for it as a store of wealth. Because it is the fastest, cheapest, and most secure way to pay anyone anywhere; there is growing demand for BTC as a payment system. So, demand is driven by utility.

You answered your own last questions. Why do people use "real" money to buy "made up" bitcoin money? Because all money is just made up. It's just fancy paper that people believe will hold value. And gold is just a shinny rock. Why do you believe in the made up numbers on your credit card?

Exactly. It all depends on how you protect yourself. If you post a wallet address on a status update or a tweet then it can be traced back to you, but obviously you can use it so you cannot be traced but this is all down to your usage and the precautions you take.

Bitcoins are not anonymous unless you take a lot of precautions.
Everybody can see every transactions that was ever made on the blockchain, so if any transaction you ever made is linked to you(e.g. because an exchange or an online merchant has your data) other transactions in this chain can be linked to you.

It's not totally anonymous but it is kinda when you compare it to a fiat bank account, but the level of anonymity it gives depends on how safe and careful you are with it.

How can you say that? Maybe the best factor for me about BTC is the concept of anonymity. I got interested in it because of that. Why can you say that btc is not at all anonymous?

early adopters do benefit as they are taking risk of new technology.  please read the FAQ on the wiki if you are interested.  also, yes anyone can create their own currency but Bitcoin will probably be much more successful because of the network effect.

no big mystery.

The reason we give gold value because its rare,  the reason its rare is because its heavy substance sucked to earthcore when molting. Gold we see now adays come from meorites crushing onto earth. Anyway it gold still holds value in the next hundred years we shall see robo meteorite gold mining which makes gold no scarce no more. It takes time but it will happen. Once ppl come to realize, btc is only make sense,  scarcity is by math and rewarding schedule.

BitCoin is good but it is not totally anonymous.

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have you gave it a little thought in whats the difference BTC and what was of LR and other digital currencies before it.?
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you are misleading information:
 

no no dont waste your sacred energy..everything is clearer now

Bitcoin is revolutionary technology, thats why it have big value.
It is bigger every day.

I truly understand its advantages for its instant anonymous transactions. I said I support its idea and I think it is
a clever one. But we lose the reality that we need an actual currency to invest into BTC.. so we have to deal with reality one way or the other.
The reason I became furious in regards to investors/ big businesses becoming money hungry exploiting its values by
doing all sorts of crazy $#it. They just care to make money off from normal users..Like every moral to the story they are shut down just like LR was.


for the fact that Bitcoin's value has a Dollar or EURO sign next to it:
I believe this can work better if we just look at it as a cool anonymous "convenient" way to trade. 

You have lots of written on forum. Just read and learn and read and learn. And then ask and again read and learn.

Maybe it's the best idea to stop explaining Bitcoin to the thread starter. Everybody's free to choose the kind of money he wants to hold.

Most of those who chose Bitcoin know very well why they did so. If OP doesn't understand or doesn't share that opinion he's free to enjoy his fiat money.

It's a waste of time and energy trying to explain the advantages of Bitcoin to people that are not open to the arguments. I don't care if OP invests in Bitcoin or not.

ya.ya.yo!

to do business in the investment
terms of his worth as gold bullion, but the risk of investing in bitcoin is too large, because there are no laws that protect

Easiest way to understand bitcoin is to compare it to gold. Just like gold, bitcoin value is defined by trading and human belief in it as a store of value. People chose bitcoin, just like they chose gold over pink rocks. You can cry all you want, but bitcoin is here to stay.
Of course this is simple dumbed down comparison, but this way even my 80 year neighbor would understand.