Topic: Btc and crypto was created for reason - page 2. (Read 836 times)

Centralized ones mostly fail BECAUSE they are centralized, and I think there are a few of them at the top that I am still shocked they are at the top. Like how the hell does XRP do so well after so many years when people are aware that it's heavily centralized? But in that case it doesn't matter because if it is not something I invest in, then it is not my business to tell others what to invest and what not to invest, that's what matters.

We should be considering the situation changing at times, but in the end we are going to end up with a greater result. We should be considering how things will change, and how it will be not that easy to handle as well. We are going to make that work somehow, and we could make bitcoin be even more decentralized by just putting up decentralized exchanges that work as well. So all in all, decentralization is definitely the reason why blockchain was loved so much, and because of that bitcoin was loved too.

Blackrock created btc ETF*, and I think that's definitely something that can benefit their investors a lot, it looks like it could be a smart move and I do believe that they are going to keep being much better in the end as well. While we are talking about something that could take a while, I also think that we could make it work some other way as well, it is going to be seriously considered in the end, not going to be all that simple.

We should see how this could work one way or another, and blackrock ETF is something that could benefit them a lot in the end, we are talking about a serious amount of profit for them if people keep investing into it.

The point is keeping people investing, now it doesn't mean that price going down is something they don't care, because if price keeps going down, then a lot of people will get out and not get back in and that would be money lost for them, so price going up helps them more, keeps people investing even more, but in the end as long as people are trading, up or down is not the point for them because the yare not making more when it goes up or down, they are making money from all the people who make an action on their company, so they want bitcoin hyped.

Yeah for him to come with something this futuristic nobody knows because since when it was created the more things, some people are so talented and satoshi was smart to even keep is identity hidden was the best decision he made because they would grave been after, and for that innovation that a lot of people are benefiting from. And we just innovation a lot of people show appreciation to Satoshi because comes bitcoin comes every other thing currently and since the creation of bitcoin there are other coins that have been innovated from bitcoin so kudos to Satoshi Desperate, we don't know whereabouts or no anything privately about him to me knowing him is not even important that matters for now is innovation, which have touched a lot of lives and a lot of people have benefited from that is enough.

With these, they invested a lot in terms of security but one of the reasons why they get still attacked is because of human interaction one of the easiest ways is to penetrate those users who aren't aware of this kind of thing and reason why it goes up through the system itself, even in crypto no matter what coin you are holding, but you commit a single mistake with that possible attack your asset might get lost. Actually, bitcoin is just a tool to make people more secure with their transactions and at the same time as anonymous but people recently seem to get overwhelmed with Bitcoin and how capable it is, again even you keep support bitcoin but your government or country doesn't its useless.

Bitcoin is not a magic pill that will solve all major issues of humanity. It can be a good alternative in the world of finance, an empowering tool of economic freedom. So unreliable banks, governmental financial restrictions, fiat issues: yes, Bitcoin can help with those. But if a government isn't doing its job properly, there are power outages, scams, or cyberattacks: no, Bitcoin won't fix that.
It's not anti-governmental; Bitcoin can be directly endorsed by governments (like in El Salvador), it can be used by traditional investors looking to diversify their portfolios, but also by libertarians. It was created as an alternative to fiat and banking, but it's not an 'either-or' kind of alternative.

Bitcoin is not the only asset that can prevent inflation in this world, gold or real estate...are also assets that can effectively prevent inflation and have been used for hundreds of years. Smart people have known how to deal with inflation for centuries, and the concept of anti-inflation existed long before bitcoin was born.

The USD is not the only currency in the world, and bitcoin was not created to counter or replace the dominance of traditional currencies. Bitcoin was created as an alternative when traditional currencies were on the brink of collapse due to governments' inability to stop inflation.

We can’t speculate what Satoshi had in mind when he created Bitcoin. Every crypto project has a whitepaper where the goals, objectives, features of the project are highlighted. So when questions like this come up, bitcoiners can make reserve to the Bitcoin whitepaper.


Many cryptocurrencies have been created after Bitcoin but they are centralized and they mostly fail. Altcoins are created with a different mindset. Altcoins are generally for trading, no one can tell how long they will last in the market.
Over 50% of all cryptocurrencies have died. Of the over 24,000 cryptocurrencies listed on CoinGecko since 2014, 14,039 have died.

Bitcoin is not a shadow to banks and centralized financial institutions but instead a decentralized asset or currency that could solely perform its function without the help of centralized banks. All thanks to Satoshi for his brilliant invention, because without bitcoin, we can never get rid of inflation and all its factors that continue to contribute on it.

However, invention of bitcoin does not totally mean replacing the position of USD. But they could probably work hand in hand in the future to provide varieties for payments for all citizens.

Not high fees. I even think many traditional payment methods are free but it's just that they are too centralized. There are no privacy at them and then there is no freedom. This is the main reason on why Bitcoin is created because the currency has a decentralized feature. Back then, the fee in BTC is actually dirt cheap and I think there are even times that it was free. This is why faucets those times can pay the users directly in their chosen BTC addresses/wallets. The reason is because the coin is still not very known.

Yes, fees can depend on the number of users because if there are plenty of users, there are also plenty of transactions that are being created in the chain and this can be the ones that can cause a congestion and causes the fees to get bloated. Despite of the growth of users and the high fee issue in BTC, devs still implement a solution.

Now, the fees are more manageable. There is no occasion that BTC have copied the banks and that will never happen. Remember? BTC is created as opposed to it, like what I said earlier. It was actually the Banks are the ones that are trying to imitate Bitcoin but it already happened in the form of CBDC's and stable coins. It was still partial and BTC still have a unique feature that one can't possibly copy.

How do you know? So his love for fellow men. Sounds like a fairy tale. 
According to info on the net (Highly doubtful in the 1st place) Banking was the reason. Where do you live?
The country I live in, the countries I lived in all had different hurdles.
Good reason as any to create a difference, together with the Whitepaper's main purpose being P2P leads to the conclusion,

Rather than the reason being created by banks. 

There are some scenario where cash or cryptocurrency won't longer help you out let say if you are in place where bank doesn't operates meaning you are entirely out of fiat and again if you lost internet access then you can't transact your cryptocurrency except you go for the area where there is internet connectivity. I could remembered that during war many people wouldn't be that mindful with their personal information especially most of them could misplaced their seed phrase or lose their phone where they would lose all their asset but still it needs carefulness during to be able to either use cash or cryptocurrency.

They did not create bitcoin out of anger; it was just that sometimes we need to use new technologies, and that is why our mentor Satoshi Nakamoto came up with this technology, which is bitcoin. Other cryptocurrencies now follow in the footsteps of bitcoin. It was created to give us financial freedom by giving us access to our funds without any third-party fees. I think bitcoin fees only get charged when the mempool is congested, but on a normal basis, it is normal; it is not much when you want to do a transaction, so it is still okay, and bitcoin is not trying to copy banks; it's just that that's how it works. 

Know body knows what satoshi nakamotor had in mind to create its currency called bitcoin, but today its creation and innovation has been a beneficiary to many people, so I believe that in time coming another person will have another insight to create its currency and worldwide will also be a beneficiary as worldwide is a beneficiary of invention of satoshi nakamotor.

That has always been the main speech: after the crisis of 2008 due mainly to banks, Bitcoin was created as an alternative. I wasn't there when everything happened so I can't tell for sure if that was the real cause or not, but that's what I choose to believe, and in my experience most people believed the same when I first learnt about Bitcoin.

Conspiracy theories like the ones discussed in this thread weren't so popular in the past, and that's a good reason to believe that they are unlikely to be real.

Let's just say this is an assumption that describes the level of knowledge about the banking system and the Bitcoin system.
Several world figures who have great influence in many sectors have acknowledged how Bitcoin is a great alternative to save the economic system and they also boldly carry out a narrative to the public about how important it is to have assets like Bitcoin.

So in this case we don't need to continue because ignoring discussions like this is worth doing when many people have said what it really is.
If you feel that other systems are better like the fiat banking system, that's a person's right. Likewise, we who acknowledge Bitcoin don't need to force people to acknowledge it.

I believe that something that is created must have a use and function that is beneficial for people who know it, such as BTC and crypto, the main purpose is to provide convenience, as a means of exchange for transactions carried out digitally decentralized that are free from government control, so we can transact easily without going through intermediaries, that's something that is very popular and easy and at this time bitcoin is the strongest network so far so bitcoin has proven itself with relatively better technology and it has been tested, at this time it makes it easier for you to make much better transactions.

Bitcoin was created as an alternative to flat as Satoshi saw that from the way the financial system was heading, it was heading for its doom and having an alternative that relies on a different mechanism was the only solution. Bitcoin can only protect us when there's something to protect us against which is inflation. Bitcoin can't protect us against a financial crash as everything will be affected. Bitcoin is more of a currency so we shouldn't be having a different understanding of how Bitcoin can protect us. If there's no internet, there's no Bitcoin so don't use the absence of power/internet in the traditional financial system as a point that Bitcoin is better.


BlackRock didn't create bitcoin and neither did they create cryptocurrency. They're just participators like you and me but they have an advantage over us because they have access to billions of dollars from their service that they provide. They manage assets and the biggest in the world for that matter.

I don't know if you are trolling, or if this is just a problem of lack of knowledge, either way, stop posting about what you have little or no knowledge on, if you are curious to learn, then read the post of others and learn from it.

Bitcoin was not created by those you claim created it, why will a centralized institution create a decentralized currency that they cannot control or print. Bitcoin was created by Satoshi who wanted to give people an alternative of financial freedom, now Satoshi could have been one person or a group of people, that i do not know, but Satoshi certainly had nothing to do with the centralized system nor the banks.

This was supposed to be the case but my experience during the corona virus time of 2020 made me believe that all assets are vulnerable and crypto shows that during the pandemic. When the stock market crash, crypto market crash two times what stock did and this is because crypto market is now influenced by institutional investors and a bad decision in traditional market will definitely affect what's happening in crypto but hopefully crypto ecosystem will stop been attached to other financial system.

Blackrock didn't create any crypto, he was only granted ETF where they buy Bitcoin and gives a mimic contract of Bitcoin to investors who wish to buy crypto but doesn't want to be their custody, so when they want to sell, Blackrock will be there for them to do check and balance. There are many others who offered ETFs but Blackrock seems to be popular because they have big money under their management.

Ok, let's unpack thiss shall we:

Banks falling: Crypto doesn't in any way solve lack of decent regulations that causes banks to falling issues which are main causes for banks "falling". In fact most government candinates that are speaking for crypto are against regulatory oversight that would protect the bank customers. Also crypto is in no way has designed to be replacing banks. It wouldn't be ready for it. Ironically trump, who you are praising, is against these kind of regulations that would make banks be more responsible of their actions.

Cyber attacks: What has this to do with btc or cryptos?

goverments not working: What governemt are you talking about? And what do you even mean? How not working? Never mind because crypto wouldn't solve anythng you would answer to this. I mean how even would it?

power outages: What are you talking about? How is crypto preventing power outages? It literally takes power to work. Also if your laptop or phone doesn't get power, "crypto" doesn't help.

fiat currency value problems: Please elaborate, if you are talking about inflation, it's not a problem until it's hyper inflation. Fiat money wasn't created for long term store of value, but as a payment method that would be highly liquid. Crypto has way more problems in terms of fluctuation. It's not a sensible payment system when you rather just wait for it to moon.

goverment wealth confiscation and restrictions: If goverment wants to take your crypto, it takes your crypto. Or how else you explain the insane about of confiscated crypto governments are selling?

liquity problems: Seriously what the hell? As i just told you, fiat money is higly liquid. That's one of the main reason it got adopted.

hacking and stealing scams: Why do you think there have been so many crypto scams? Why would scammers prevent immutable and permissionless transactions?

data centers over heating of stress of Traffic volumes: Explain this because this sounds nonsensical insanity. How would crypto solve this? I would be very interested in detailed explanation, but i doubt you are able to give that.

not single ledger to approve and validate transactions but different system and issues to working together: Ok? There are also several different blokchains. You really think it would be better for banking if we would take customer's choice away and offer one unified money transfer systen in the world instead? I am guessing you are loving the cbdc if arguments like these make sense.

high cost of trust system instead of proof: This is the only argument that even remotely makes sense. Although it's pretty vague and could mean several things and i might misinterpret what you mean.

no Wonder why blackrock created cryptocurrency and btc: I've tried to decrypt what you say here, but all i get is nonsense. What do you mean by "cryptocurrency" or black rock creating it?

Reason why btc was created was to create a decentralized ledger that enables people to transfer value over the net, which wasn't really an option before. Stop making up reasons.