Topic: Btc and crypto was created for reason (Read 871 times)

Regardless of whatever reason you say, for me and my understanding Bitcoin has only one reason, namely: as a digital currency that is traded and another reason is to make it easier for crypto users to carry out transactions in the form of digital currency, for that reason, currently Bitcoin is still running and in use.

For this reason, with the greatness that crypto has within the body of crypto, until now many countries and governments have been confused, without control, but it can run on its own, just like electricity, press the light button on, the same goes for Bitcoin, press it and you can send wherever you want.

Another reason for the creation of Crypto is that it can improve the economy of the wider community, in investment and trading methods, as well as mining, so there are many reasons when examining the creation of Crypto, real economic reasons.

Bitcoin was created to overcome the problem of sending and receiving money through banks, bitcoin was made send and receive money over internet. You can say digital currency was made to limit the role of central power that handles bankimg system. It also made to provide alternate payment system so people can make transactions on their own.

Gullible people who have no idea what people are capable of is the real issue because we are not going to get any good results because it is going to be quite obvious that if you package a scam good enough then you are going to convince people enough and that is going to see these scammers getting richer thanks to this as well. I am not saying that everyone will fall of course you may not fall for this, but that doesn't mean that we are going to see nobody falling for them neither, scamming will continue.

I believe that we are going to see people can continue to scam others so it should be something that is going to be hurting the economy of crypto world for a while. We can't really expect the situation to be easy forever, because we can't have anything as long we keep thinking that people will be able to save themselves, because they can't.

There will be some people who will save their own situation and some people who will not be saving themselves, that's the whole thing. So just expect that this will continue, and just be careful yourself and let others be something they fall and not something that you will be taking care of at all.

That is the truth and unfortunately something that not many people end up realizing this fact. I mean we have seen humanity be scammers for a long time and yet we still didn't really ended up doing anything all that bad, it's something we need to be careful about.

We could be considering how we could make this work one way or another, and while people will keep on calling all the scammers that are in the crypto, we are getting regulations that will protect us so the crypto scammers are getting tougher to do what they are doing because the punishment will be more severe now. They were doing it easily because nobody chased after them, back in the day if you stole someone's crypto then nobody cared, but now when we look at it, it looks like it is something somewhat more dangerous.

It is indeed difficult for people to understand it, it takes sufficient information and insight to find out more, because BTC and bitcoin for some people are not familiar with it because it has several features that distinguish it from other conventional currencies, therefore it takes time to learn more about its insights, but for now, bitcoin enthusiasts are increasing, they are starting to realize the problem of trust, and the stability felt because of the ease that is free from government control, and banks, by following these steps and progress it is hoped that in the future it will be much better.

From the title of your thread, I knew something was wrong.

It’s admirable that your here trying to teach what you think you know and believe but, is that really it? You ought to make sure your not spreading false information as some users could be really dumb enough to just take what you’ve said thus far to be true.

Bitcoin is crypto and not otherwise. Crypto is just like an umbrella name although, we always try to different Bitcoin from altcoins, they both are cryptocurrencies.

It is no people are figuring out the differences between the two even older people their are people who have had a misconception about bitcoin, people have gotten a better view of what bitcoins is about, their were times am sure some parents will want to stop their kids from investing. Just because of the idea they have in their head about bitcoins. Bitcoin and fiat are different and they can both act as currencies just that not in all cases and again you have to convert your bitcoins into fiat since it is also an investment. People in the society have gotten a good interest in bitcoins, and people are really ready to tell people about bitcoin not because it is going to be beneficial when they introduce people but because they want to see how they can be of help to people, their is no one that will invest in bitcoins and following the important steps that won't make money is not possible so when they tell you then it left for how you source for capital to invest.

You should always make your points clear so that the readers can understand what you are trying to say. Bitcoin played a great role in promoting online investment systems or you could say it was the pillar of the cryptocurrency market which has become one of the largest investment markets in the world right now. Bitcoin didn't play a role in the birth of investment systems because traditional investment systems existed even before Bitcoin.

Actually, Bitcoin was not created to become the starting point of a market that will cover a large part of the world's wealth because people will invest in it heavily. Bitcoin was created to become an alternative payment system to the fiat and traditional centralized systems because it was made decentralized and privacy-oriented.

As the time went by, Bitcoin started to gain value because people started noticing it and started buying, since the supply was limited, its price started appreciating, and the rest is history.

If i remember correctly cryptocurrencies especially Bitcoin were created to address various systemic issues by providing a decentralized and convenient alternative to traditional financial systems that can offer protection against bank failures, government bans, inflation etc. though for protection in times of crisis but although cryptocurrencies reduced vulnerability to traditional financial volatility While they offer advantages, they are not without their challenges. Nevertheless, factors to do with cybersecurity threats, hacking, and legal barriers are applicable. This is given that, on the matter of regulating these very cryptocurrencies, the landscape varies quite a lot. For example, in the U.S. massive adoption and support of cryptocurrencies has been witnessed, whereas in the regions of the UK, EU, and Canada, one finds different landscapes of adoption and regulatory barriers. It simply cannot ignore the increasing realization of the potential of this digital currency by large players in the financial sector such as BlackRock. But striking a balance between optimism and knowledge about the risks and uncertainties is critical for every participant in the digital asset.

It did not give birth to the investment system however it did give way to another system which is the blockchain. Investing is not something new to the people. Even before bitcoin, there has been many ways to invest such as in real estate or stocks.
 
Though maybe bitcoin has made more people aware of how important investing is but this does not mean investing was such a foreign concept before the invention of bitcoin.

I beg to disagree investments is already there and existing for many decades. There's lot of activities like this happening and also lots of scam has been recorded from the past even if bitcoin didn't exist. Its just people revolutionize this matter and use crypto as alternative tool to make their transactions became more easier. And its sad to see a lot of scamming especially that there are criminals take advantage of its technology that's why lots of them succeed especially they target those people who's innocent on online investment scams. But if people really use bitcoin at right thing for sure they could figure out how useful bitcoin is. And maybe those thoughts about bitcoin as tool for investment will be eliminated and they think about this coin as currency which they can use to transact online.

You know at times what baffles me is seeing people putting all their life problem into Bitcoin just because they have hold some fractions of it without knowing that only that can't solve the problem at hand instead the only thing bitcoin can solve is holding Bitcoin for decades whereby the profit invested can yield more better than before which they can sell at later end to solve their problem, but for immediate I don't think it could happen just like that there is no magic behind bitcoin investment what matters is that the total years of holding it.  For example you can decide to hold for for 4 years 8 years or even 12 years respectively with this you are sure of witnessing about three bitcoin halving circle that could cause a huged surge in Bitcoin price to give you the required return of investment which you have invested into Bitcoin by there you can use the money I mean the profit generated from bitcoin investment to solve all the problem you need. Apparently it takes 12 years to make a sustainable and substantial amount from Bitcoin.

I think bitcoin plays a big role in the birth of the investment system, which is implemented and recognized by world figures, the advantages of investing in bitcoin, they have a lot of hope with this system in storing their assets and that is an interesting achievement, and makes hope for a long time, yes, we can know about the benefits and its journey along with the maturation of bitcoin as a finance asset and it becomes an electronic transaction system that relies on trust, triggered by the finance crisis that was the background to the launch of bitcoin.

We don't even know what or who Satoshi is so in this case we are just speculating about the purpose of creating bitcoin even with wild conspiracy-like thoughts like the OP said.
But in this case as long as it can be useful then why do we think about the original purpose because I think as long as it is beneficial for us then it would be better if we can make the best use of it.

I don't have thoughts too far because it's beyond my capacity, the most important thing is that I benefit from the creation of bitcoin, that's enough for me. Even though it seems selfish and ignorant of plans that could be a mistake but we cannot be naive, we currently live where we are on the path of the law of the jungle and with a difficult economic situation like this, everything that can be profitable must be utilized so that we can survive with increasingly difficult circumstances and for me personally bitcoin has so far been the answer for me, although it may not be considered I am rich with bitcoin but the impact that occurs when I am in bitcoin is at least very large to date.

Reality is, crypto most particularly bitcoin comes to existence when fiat is falling apart. It serves not actually to replace the position of fiat but in times where fiat is failing, at least the people will never struggle since there is bitcoin that may act as a reserved currency wherein it gives more freedom and anonymity to the part of the owner, and security and confidentiality is higher than any fiat can do.

There's actually a lot of advantages bitcoin can offer apart from fiat. But until the world's government do not seem to be open-minded and accept bitcoin, bitcoin can never give to the people its utmost advantage.

Satoshi Nakamoto created BTC primarily to help take away some power from world governments and transfer it to the commoners based on my understanding. Other pros are pretty much secondary in nature.

However, crypto isn't always reliable which is why expecting these currencies to always help in the future isn't realistic op. Certain popular currencies like BTC, ETH, LTC, Doge etc are far more reliable when compared to less popular altcoins though.

             -    It's just me; the only thing I can really think about is what you said: that it was created for a reason, and that depends on the individual as to whether he will give it value in his personal decision, whether he will believe it positively or negatively.

Because Bitcoin or crypto can be used for good and bad, now it's up to us which of the two I mentioned we choose, as long as I also know that the majority of those who make Bitcoin or crypto who stay here are still a good thing.

Now there are many world figures who have said that because maybe they themselves have realized how the system in Bitcoin and also the fiat system is no better than Bitcoin itself. And when there are many world figures who have realized something like that, I think there will be a good effect that arises in society, such as the increase in enthusiasts who want to have Bitcoin. So they will definitely try to learn to be able to invest in Bitcoin after knowing the level of risk and potential profits in the future.

You are right in what you said, I think the burden people put on this digital currency is too much, Bitcoin is just an investment like other assets, even in the area of solving financial problems as you said, is not all financial problems. That Bitcoin can solve, Bitcoin can not solve immediate financial problems, for instance newbies that has good orientation that Bitcoin is a long-term asset, are they expected to withdraw immediately after investing to solve their immediate needs when the purpose for the investment has not been accomplished yet, I think people misunderstand this investment, Bitcoin is not a quick money making venture where individual resort to take some money to solve problems at any given time.
Individuals putting their marital financial problem in Bitcoin does not understand the whole concept, as investors in Bitcoin there has never been a time people were told to invest all their money in Bitcoin, a bitcoiner should have other spurce of income and funds to carter for their immediate needs in other to keep their Bitcoin portfolio intact, I think with this aforementioned mindset investors won't think otherwise while in the system.

Of all the initiatives that work this step not only marks a shift in the financial system, but makes a blackrock open a new era of growth in real asset tokens, and can be traded in the latest developments in digital assets, and they have an advantage in that.

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.

Why don't they accept their own creation? Hardly any bank accepts even proceeds from a Bitcoin related sale.
Or from crypto related sales.

Maybe OP just doesn't realize that some of the world's bankers still hate Bitcoin because bank customers no longer keep their money in banks and only choose to keep it themselves and put it on the exchange in order to buy Bitcoin. The understanding that has been expressed by the OP needs to be corrected so that he does not get lost and can also cause other beginners to get lost because of this statement, because we already know who created Bitcoin, so that is what needs to be clarified to the OP so that he can increase his insight into things like this.

I live in Ukraine, where a full-scale and bloodiest war in Europe since World War II has been going on for three years now. From time to time, I asked my friends how much cryptocurrency had helped them, especially in the first months of the Russian invasion, when the Ukrainian banking system was experiencing significant difficulties. I can say that in general, cash was used for payments; I did not see any significant demand for the use of cryptocurrency among my friends. But in this regard it is very difficult to get any statistics.

Transferring funds in cryptocurrency from one person to another is done quickly if you have the Internet and appropriate devices, but in many cases, fiat is needed for the final stage of most transactions, and you still can’t do it without banks. Of course, the reason here is still the low liquidity of the cryptocurrency; over time, it is quite possible that the situation will change.

The history that is read related to Bitcoin and crypto must be exhausted in order to find the truth behind its creation. Bitcoin was created by Satoshi Nakamoto with an anonymous identity. Bitcoin offers freedom. Understanding cryptography needs to be read to give you a good understanding so as not to be misled like this.

There is no compulsion to use Bitcoin and Bitcoin is not created by bankers. Bitcoin was created solely by a human being who had a revolutionary view of the world's economic system so that people are not oppressed due to diminished responsibility when problems occur.
Bitcoin creates freedom for those who have it in transacting without having to involve third parties with privacy that is not available in the fiat banking system.

I firmly say that everything you say sounds like nonsense that is completely useless to me personally who has felt the advantages of Bitcoin.

Banks cannot also function during wars so most likely, those who aim to withdraw their funds might be in trouble, even ATM machines funds will also be used up once banks cannot function properly.

However, with crypto, as long as there's still electricity and internet connection, doing crypto transactions will be hassle free. That's one of the advantages of crypto, while fiat banks might declare closure and depositors will be in trouble, those who prefer owning crypto will never struggle when it comes to deposits and withdrawals transactions.

What you said is basically just BS and your personal opinion, there is no evidence to support what you said. Because if it was made in the USA, why would they regulate it and limit its adoption there? shouldn't they empower it, so that more people use it? Just think again, Bitcoin was created for the reason that people need a decentralized network which allows people to carry out transactions without worrying about intervention or their identity being known by other parties. And governments hate that and that's the reason why many countries initially hated Bitcoin because they felt that Bitcoin could threaten their banking and fiat systems.

Its easy to search on why bitcoin created, here let me quote it for you.


Source https://qz.com/bitcoin-history-creation-origin-price-1851347621

You don't need to put a lot of exaggerating things since bitcoin is not all in one solution. Its currency meant to use by people that's why majority should treat it as currency and not as symbol for super powers or anything that you over imagine for this coin.

If there's a chance to earn by acquiring bitcoin then treat it as a bonus feature and people need to work with it before they can earn something from bitcoin.

Well, been hearing those kind of statements about if Bitcoin can do those things to those problems. I mean, they're not really a problem to be asked as long as it's related to finance and someone who holds a lot of it will definitely solve their economic issues.

And it is no longer just a CRYPTOcurrency but also a store of value for which is the main reason why many of us are holding and thought that it can solve everything.

I do agree that Blackrock being interested in crypto has something to do with crisis period though. They faced the whole covid period, and they knew about bitcoin before that too, and they realized during covid when everyone was mad, crypto people were incredibly happy. So they realized that if they start an ETF for bitcoin, they could make a lot of money during even the bad times, and would be leveraging against themselves, so they are not going to lose much. If everything is good, then stocks and such are good too, and if all goes to shit then bitcoin is good, in both cases they win.

I do agree that bitcoin had something to do with banks collapsing as well, after all it was written in 2008, but it was worked on for many decades before that, basically ever since home computers became a thing, everyone tried to start an online money, and yet satoshi was the only one who managed to make it decentralized the way it is, that is why this got picked up by everyone else. All in all, we should realize that things aren't always that great, and we could make it work some way or the other. So I agree that Blackrock knows that crypto is great during crisis periods and that is why they did this.

What are you trying to say, OP, that crypto is created to destroy something and manipulate it? But I don't think that is the case, because what I see and what I believe more people see is a positive way of making our lives better and easier. Of course, do not expect all people to admire and appreciate bitcoin's existence; some are here to oppose and see it negatively. Fortunately, despite the negative words and views of some individuals, many people still believe that this will lead to a better way of living than a negative one. If the impact has not been felt, I don't think it will gain popularity and interest. 

I believe the reason for its creation was something good. It may not be for everyone, but it is for the majority. 

This question will continue to persist if you ask me, there is always every chance that when a problem arises now bitcoin is thrown on board on wether it can solve it. You will hear some gullible questions like what bitcoin can do for a country at war or eradicate poverty. My reply is always can fiat it self solve this problems if no then bitcoin cannot also. If fiat can solve the problem though then bitcoin can solve it in a better way. People just need to get cut up on all this and know that bitcoin is a currency although a unique one but you need and income generating thing to also earn and not it solving problems like poverty.

It is not wrong if you say something like that now in order to be a special reason for the creation of Bitcoin fifteen years ago, even though at that time not many people realized such a reason for the creation of Bitcoin. But for now I think everyone should be able to understand that fiat really cannot be relied on to store value except for a means of exchange in real life with government regulations and global agreements. because currently there are still many people who believe in the fiat system that they may not know that fiat can only be relied on in one way.

I cannot comprehend it when he has mentioned those issues but as for relationships that do require finances and money. Maybe there's a solution to it through Bitcoin as it's also related to money.

Someone can give money to the other to solve things but as you've said, it cannot solve everything.

Like for the usual topics that we see when people are asking if it can solve poverty and the countries that are dealing with it.

I think op is just generalising everything. Talking about protection I think he is talking about bitcoin because it is the only digital currency that is secure and reliable. Other cryptocurrencies can't be trusted and can't be considered as what people can rely on. It doesn't make any sense when people tend to categorise all cryptocurrency as the same . Thinking that all cryptocurrency are the same can make one fall into a big mess because most of the thes cryptocurrencies can't really do what people really expect from it. When we talk about protection, security,  reliability it goes to bitcoin.

Cryptocurrency general name that bind Bitcoin and the reason why bitcoin is being created is to support fast transaction of other currency most especially our traditional currency being used by any country so since the existence of Bitcoin it has shown and also proving that you cannot regulate or manipulate the existence of it price or the value in the market so many people have not digest such concept so that is why they feel that Bitcoin is the same currency into our traditional currency used, it's obvious that bitcoin is unpredictable

Bitcoin network will stall for multiple reasons such as outrageous fee (recently happened due to ordinals), internet blackout (close to impossible), and the decentralisation will become questionable if miners stops working so that 51% attack can make anything invalid.

There are multiple conspiracy theories as well about Bitcoin like new world order aka deep state governance.

Bitcoin is created as an alternative to the centralised banking system so let's keep it that way.

According to my understanding, bitcoin was created because they did not want to be forever enslaved by fiat, so bitcoin was created for freedom for everyone and of course to prevent inflation at that time. Since fiat requires government intervention, the government can easily regulate our finances. Bitcoin was created to solve all these problems.

So in conclusion, if we learn from the history of the beginning of Bitcoin's existence, it was caused by distrust of fiat currency issued by the government. And until now Bitcoin has succeeded in proving that Bitcoin is truly the best in terms of privacy and freedom because there are no third parties. This was all done with a peaceful revolution, a non-violent revolution so what we feel now is that Bitcoin doesn't need banks or the military to protect it, just with strong wallet security we can hold Bitcoin without fear.

You know at times people tends to put all their problem in Bitcoin without knowing bitcoin would not or could not solve all problem that is surrounding the world but instead it can solve only financial problem as it is only created for that so anything more than that bitcoin can't solve it for example, someone trying to put their marital problem in bitcoin to solve it. This is unthinkable and how could this be possible and where and how could it be solved, but if we talks about financing then we can say bitcoin is mainly and originally created for that.

Many of the issues that you've mentioned aren't covered by Bitcoin. They're out of scope so, I don't know where you're pulling those matters. You're generalizing things for Bitcoin as if it's created to solve all of the issues.

Bitcoin isn't Superman to solve every problem that you've said. But if it is about our finances and investing, Bitcoin truly was made for it even though the first use of it was a means of payment.

Bitcoin was created to save us from crooks controlling our money, stealing from us with inflation, totally eroding our purchasing power over time. Bitcoin is a gift to preserve our wealth & stop us getting poor slowly.

As educational material to enrich our understanding and as repetition material for those of us who have already read it, this white paper might be able to help:

https://bitcoin.org/bitcoin.pdf

I think it could be good reading material, to find out the original purpose of Bitcoin creation.

BlackRock didn't create cryptocurrency or Bitcoin. BlackRock is simply trying to make money from what appears to be a a new asset class, an increasingly popular store of value. BlackRock doesn't even agree that Bitcoin is a currency.

Secondly, it's wrong to assume that cryptocurrency "will protect us against all those issues." As a matter of fact, there are also issues that hound Bitcoin for quite a while that remains valid up to this day.

Finally, Trump isn't the president yet. He may not have his second chance at the highest post of the land. But what's true is that when he had the opportunity, he wasn't rooting for Bitcoin. Although he has since changed his tune, he's simply trying to court some votes. He may not walk the talk when he's already the president.

The purpose bitcoin was created has been mentioned several times and it has also paved way to explain more in detail the purpose of its invention. The ones that are against it are self entitled and don’t want anything that will annul their means of earning to be tempered with, I mean they prefer to be centralized instead of decentralized since they are the ones in power. You can’t see an ordinary man who has no power within him go against the innovation of bitcoin, but the elites in the government are always against it because of what they stand to get and bitcoin will only not support that if it’s been embraced.

 If we all agree to be transparent and really want to practice the so called democracy, bitcoin been embraced will only make things more easier and transparent for everyone to know those that are with the right path or the wrong path because of how every transaction can be traced if found wanting, especially those linked to an exchange address. After all, the government can always find a way to sweet talk everything and make the unwise wants to dislike bitcoin and its innovation, it’s not something surprising that we are still here after the mass adoption of bitcoin. Bitcoin is for the purpose of decentralization but as it is now, if government will embrace it, they’ll have to temper with it and not get it all decentralized as it should be.

There are different networks inside crypto environment. Which one are you referring to? Also, it's not easy to predict the future regards cryptocurrencies, because as we can see they are very volatile. Personally, I expect Bitcoin to help me to deal with the challenges and threats imposed by the traditional financial system ruled by governments and monopolies.

It's not a good idea to put your hopes regards the future of cryptocurrencies on a politician. It's due to people hoping great things from politicians that we have reached the current miserable moral, social and financial situation we face today worldwide.

Why would Blackrock create a decentralized currency like Bitcoin? It's more reasonable to think they are just taking advantage of Bitcoin right now, because it's unstoppable. If they can't destroy or ignore it, they prefer joining it for personal gains...

Everything on earth was created for a reason bro, and you can make your choice for the reason that particular thing was created in the world because there are some people who will follow the beauty of the thing, while some will follow what they are going to achieve from the thing in the future, crypto and bitcoin was created for a good reason but banks are trying to deceive many people not to enjoy the purpose crypto and bitcoin was created in the world, because they feel it will going to reduce their customers to zero level which is not true, crypto and bitcoin was created by Satoshi to eliminate poor transactions and improve employments in those countries that make crypto and bitcoin legal.

I don't want to be part of such conspiracy theories because as long as there is no valid evidence, it is clear that such theories will only be a condiment that is eventually dismissed as an afterthought .
We still believe that bitcoin was created as a form of unrest and economic control so that there is no interference from others bcause bitcoin has a decentralized nature so that we can do anything without having to interfere with the government or other people as a 3rd party .

In addition, we also still believe that Satoshi is created bitcoin because of some valid evidence and data that has been clear since the beginning so that when mentioning other people such as banks or whatever it is that created bitcoin without concrete evidence then surely this is a wild theory that leads to conspiracy in it . Indeed there is a reason behind the creation of bitcoin and the reason is as i said before but when talking about a different situation let alone linking it to a conspiracy or whatever it is i seem too lazy to think about it because as long as bitcoin provides benefits for me then I will still be there .

My personal theory is that Satoshi Nakamoto is not a single guy, rather a group of geniuses working under the same name.

They created Bitcoin to use it later on to build a utopia for genius people like them, a utopia where people with +150 IQ like them will live safely and they will never worry about money.

If you search for the early adopters and investors in Crypto, you're going to notice that they either bought it as a joke or they were geniuses in math and computers. Vitalik is just an example of this.

And the whole BlackRock and NWO and WEF relation with Crypto is not true at all. In fact, those people tried their best to stop Bitcoin and any P2P method that doesn't require a third party. They went into Crypto later on because they simply want money and Crypto is way safer than the Stock market. In the stock market, your shares can go worthless if the company goes bankrupt, but that's not the case with Bitcoin and Crypto as it will always be worth something.

And yes, using Crypto to ensure the safety of your money is a good move.

It seems you are mistaken and have completely forgotten the first originator of Bitcoin, namely Satoshi Nakamoto. So you seem really blind about who created Bitcoin, so you start calling other names that they themselves may not even know about Bitcoin when it was 2008 and now I would advise you to read who actually created Bitcoin on the internet.

Try to find out as much as possible and read clearly so you don't get lost as to who created Bitcoin all this time because you have said things that are not true. Even though the names you mentioned are people who already like Bitcoin at the moment and also already have more Bitcoin at the moment, you still seem to need more education about Bitcoin.

Bitcoin was created for some reasons, but not exactly for all the reasons that you have mentioned, @OP The reasons bitcoin was created are obvious, and it is primarily as a payment system.

This is not a completely true statement; bitcoin is not a happy pill. When there is a crisis, everyone has a fair share of the experience. You will still have some worry about your investment in bitcoins because something can still happen to it or even to you.

1.What do you mean by "crypto"? OK, Bitcoin is crypto, but "crypto" can mean many things. Centralized shitcoins/memecoins are also crypto.
NFTs are considered crypto as well. If you wanna talk about Bitcoin, just talk about Bitcoin, don't talk about crypto in general.
2.Crypto cannot protect you from the threats you have mentioned. Only you can protect yourself, by using cold wallets, keeping passwords and see phrases safe and never trusting centralized service providers.
3.Power outages can be a problem. You can't access your cold wallet, if you don't have electricity.

Your comment says a lot about your rank in the forum and your ranks in the world of cryptocurrency even outside the forum. Where did you see the news that confirmed that this people are the ones that created bitcoin? Bitcoin founder is known by everyone but still remains a mystery to know how he is or how he actually looks like. Stop spreading fake information that has no legitimacy or good purpose. If you don’t know the founder, it is better you don’t assume so that you don’t translate to person sharing fake news around in and off forum.


No one wishes for war and for those that engage in such still use bitcoin to deliver money to war zones because funds are very important during wars. Bitcoin is to be used as alternative to the traditional fiat currency and will always serve its purpose when the need arise. Bitcoin is just an alternative to the fiat currency and should not be seen as a tool to fund what is not wanted in the society.

I don't think I agree with you on this, mate. If all these problems arise at once, it will affect the crypto market. How do you mean the government is not working? 


Is that the new rumor now? Well, I don't believe it anyway. If you have solid evidence to back that up, you can add more facts. 

When there's great turmoil (like a world disaster or pandemic), it will affect the market. Although Bitcoin will survive after then, but I am not sure that when the price of Bitcoin is down due to some bad event (a crisis), any investor would want to sell. 

Which means that the way you are thinking that Bitcoin (and other crypto) investors would be happy about their investment during crises, it might not really happen like that because the prices of cryptos, including Bitcoin, will be down and no investor will be happy to sell their coin cheap. 

As far as we I know, Bitcoin was created by Satoshi Nakomoto and since it's creation, I have not heard of his affiliation with banks either as banker or anything close to that. If anyone out there is bringing up claims about him being a banker then that will be regarded as a rumor which cannot hold water. I view such kinds of claims as false information coming from the narcissists who are against the development and widespread use of the bitcoin technology or decentralized system at large.

Although there's still a little of gap in the history of Satoshi but I'm sure that's for the good of the technology since there's gonna be a lot of attack on the survival of the technology by the government and the big men in the centralized financial system.

The reason why crypto is mostly valuable during war is you can transact any place without the need to go bank, and of course during war banks are being short down and you can't access your funds during war so the only alternative is through cryptocurrency provided you have internet access and have mobile phone makes it more easier to transacts without having to seek permission from third party.

Why will you said so? These people have no any connection with bitcoin at all, they are only some individuals trying to get control of bitcoin just as they do control centralized systems like banks and others.

The main reason for creation of bitcoin is to give us financial freedom; no more third party and no more control over our wealth by any individual or company. With Bitcoin, you will be your own bank and you will earn profit if you hold for long.

That's just bullshit! I get that some folks believe in conspiracy theories about Bitcoin being created by secret banker groups and whatnot.  But where's the actual proof? Seems like wild speculation without evidence to me. 
Think about it - why would major financial institutions design a system that directly challenges their own control over money?  That wouldnt make sense.

Yes, you can invest in BTC to make a profit - nothing wrong with that.  But don't act like you got insider knowledge if you're just repeating rumors and wild speculations.  Spreading misinformation helps no one.

Bitcoin created by the bankers they know that old system cant last longer so after btc maybe after 50 years they will have new system
But world Will be forced into btc it's a matter surviving If many countries fiat currency will be done they need asap some currency to use so btc will be first option.
Bitcoin was created by USA bankers jp morgan and blackrock together with sec and trump team that's not secret but who cares who created btc we are here for profit and wealth ....i don't care who bring money to me if it's trump or jp blackrock If they want to feed me let them do it i'll take their money no problem.

The reason was anger, anger about high fees and impossible rules by banks in the far east.
Bitcoin itself with its fees, is close to copy the banks behavior back from those times.

We see btc and crypto was created for reason.
So crypto is strong network and very reliable we can predict future easy because crypto Will protect us against all those issues.

Banks falling,cyber attacks, goverments not working,powrr outages, fiat currency value problems, liquity problems, goverment wealth confiscation and restrictions , hacking and stealing scams and data centers over heating of stress of Traffic volumes,not single ledger to approve and validate transactions but different system and issues to working together, high cost of trust system instead of proof.
Also the social untest riots and people lose trust in everything so crypto will be only clean shirt left to hold your wealth because people Will be fearful and not trust goverment anymore.
So usa is way ahead of other countries the trump all ready make crypto great ....it's sad story for UK and eu and others and for canada they don't have leaders who admit that crypto is only way to go

So in times of Crisis the crypto works and while others suffering those who got crypto they smile
no Wonder why blackrock created cryptocurrency and btc.