the short version to explain to naive people is..
digital gold.
reasons:
1. limited supply
2. transmittable without need of a physical safe/bank
Topic: In your own words: What is the purpose of Bitcoin? (Read 4645 times)
To waste more of my time than drunken masturbating while simultaneously frustrating me more than all three of my ex-wives.
The purpose of bitcoin is all about money, how it works and how fast it works.
A different system of circulation of money, decentralized, low fee on transaction.
An alternative way to spend your fiat money and i consider it as a Top digital currency beside virtual fiat money.
A different system of circulation of money, decentralized, low fee on transaction.
An alternative way to spend your fiat money and i consider it as a Top digital currency beside virtual fiat money.
The idea behind a bitcoin in that each digital coin has a unique ID, so you change IDs. This is similar to banknotes which have their own ID number but though no one checks it. It is meant to be used in place of money transfers which are based on account information rather than an exchange of something, so bitcoins work more like cash that other digital money exchange systems.
So tell me in your own words.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
For me the purpose of bitcoins I can see is to send money online with convenience, less fees and fast transaction. That's basically one of the purpose why I use bitcoins cuz I have some friends and relatives overseas , and sending money abroad is very costly and inconvenient. Now I'm trying to teach my other relatives that still don't have any idea with bitcoin.
Well, as you correctly assessed, you are indeed naive, Bitcoin is no different from any other forms of money. Changing the medium will not 'repair' the system, you'd have to change human nature to do that.
I believe you're mistaking human nurture for human nature. Bitcoin is decentralized without a 3rd party, this makes it radically different from fiat money. Bitcoin isn't an attempt to repair the current system where the coke snorting psychopathic diddlers that make up the 1% get 98% of the wealth. It's going to replace it allowing our good nature to flourish.
"Neither do men put new wine into old bottles: else the bottles break, and the wine runneth out, and the bottles perish: but they put new wine into new bottles, and both are preserved." -- Matthew 9:17
Bitcoin is a coin that you can own it and nobody can touch it (if you don't allow it)
Being your own independent bank is something trendy these years.
Also when you transfer from you to someone you have to pay only few cents in fees.
Being your own independent bank is something trendy these years.
Also when you transfer from you to someone you have to pay only few cents in fees.
So tell me in your own words.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
To govern the world.
Big words but I will add two another words. To govern the world of currencies. To govern all the world is a little difficult. Don't leave the politicians to do this.
So tell me in your own words.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
When I stumbled upon it I thought it was a decentralized technological powerhouse looking to repair a broken financial system.
I feel like some of you would rather some big corporations just adopt it once and for all so that you can turn it into a pile of funny money.
Was I just being naive?
I'm guessing yes.
To govern the world.
I think bitcoin as only a sort of virtual currency which work as a assets in past. But later when i started to involve in bitcoin market i came to know bitcoin can be used as a payment processor with low fee and still using it as a payment method for lots of hosting and domain requirement. Nowadays i am also doing topup my mobile phone with bitcoin.
I love to use bitcoin.
I love to use bitcoin.
The purpose was to create an alternative to the traditional system. Not necessarily trying to kill the traditional system, just opening the space for an alternative. This may or not end up killing the traditional system tho. You never know how far it can go. For now we are still a group of underground pirates, in the future it may become an actual revolution and change things that we assumed unchangeable.
Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.
Yes bitcoin is the new economical movement initiated by Satoshi. The modern economical slow down situation requires anything like that. The purpose of bitcoin created to save our global economy. bitcoin will do that in perfect way.
Bitcoin is created for new economical revolution. The traditional economic environment has many disadvantages to a common man. Satoshi has created bitcoin to revolutionize the modern economy situation with the help of bitcoin. I believe bitcoin is doing it in right way. I mean bitcoin is fulfilling the purpose it was created.
I think that the purpose of the creation of bitcoin was the invention of a new (thing) money (internet money) which first of all can be a materialization of the peer to peer technology. This invention must be the fact that this technology can be applied. Then to create a diverse currency from the others in use. Which would have qualities that the other currencies don't have.
(IMO) the purpose is to make money transaction easier, cos no one can forbit you to do that.
Yeah but I think no one will forbid you even care with your money transaction.
No war and peace.
short answer : easier way of sending money online
Bitcoin was created to enable peer to peer moeny transaction. There is no central party involved in bitcoin. Only sender and reciver invloved in bitcoin. May be miners also involved in that. But only 2 people doing a money transaction just because of bitcoin. I strongly believe for this purpose only bitcoin was created. Bitcoin is Freedom, Bitcoin puts the power of money, back in the peoples hands.
Well saying.
Bitcoin payments are easier to make than debit or credit
card purchases, and can be received without a merchant
account. Payments are made from a wallet application,
either on your computer or smartphone, by entering the
recipient's address, the payment amount, and pressing
send. To make it easier to enter a recipient's address, many
wallets can obtain the address by scanning a QR code or
touching two phones together with NFC technology.
thats all are purpose of bitcoin
card purchases, and can be received without a merchant
account. Payments are made from a wallet application,
either on your computer or smartphone, by entering the
recipient's address, the payment amount, and pressing
send. To make it easier to enter a recipient's address, many
wallets can obtain the address by scanning a QR code or
touching two phones together with NFC technology.
thats all are purpose of bitcoin
short answer : easier way of sending money online
Jump to: