Topic: In your own words: What is the purpose of Bitcoin? - page 5. (Read 4645 times)
to liberate the world from fiat money.
I guess the purpose of bitcoin is to make internet users feel more comfortable doing transactions online
I use Bitcoin for transfer of funds and it is very convenient and affordable way to complete the transactions.I see it the best available way to do it hassle free.It saves my time and money so for me it is doing successfully one of its creating purposes.Bitcoin's purpose is to replace the old concept of money transferring,fast transactions and freedom with decentralization.
being able to send money 24 hours a day to anywhere in the world instantly. and all this without banks or other financial companies.
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.
It depends on how you use it.
If you use it like you did with fiat, then there will be no difference on the purpose.
there is no such thing as purpose ,as people change it in a matter os minutes.
did satoshi made it to kill banks ? or to support illegal activities ? or to use it for anonymity ?
the way it is used becomes the purpose,but the main motive was anti-banks and govt.. IMO.
did satoshi made it to kill banks ? or to support illegal activities ? or to use it for anonymity ?
the way it is used becomes the purpose,but the main motive was anti-banks and govt.. IMO.
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.
I think you are correct that in some ways the original purpose for bitcoin was a decentralized means of exchange with no boundaries. Furthermore, the blockchain, the deflationary nature of the currency, and other factors make it uniquely suited to serve the purpose for a global digital exchange mechanism and repair many of the deficiencies in the currency global banking system. However, I think you are right. Major banking powerhouses recognize the disruptive potential of the technology and they are using their political and economic leverage to make sure they secure future market share in many areas.
I see Bitcoin the biggest innovation for the last 2 centuries.It is revolutionary as it changed the concept that currency should be backed by gold.It is freedom,vision and future's most valuable currency.
i would say with my own words that purpose of bitcoin are :
- To Have your Own Bank
- Make transaction or payment all over the world simply no need your identity
- And no more huges fee
The purpose of Bitcoin can be described in 3 words:
global (you can use it in every country and between countries)
internet (you can use it where ever there is a internet connection with every device, that can access the internet)
cash (money that is transferred peer-to-peer, so without a 3rd party, but that also means, that everyone is responsible for the security them self)
I think, a good way to describe what Bitcoin is supposed to be, is comparing it with the Internet. Before the internet it was really hard to spread any information. Media was in the hand of a few peoples. Nowadays everybody can just use Twitter/Facebook/blogs or if that doesn't work for some reason, it is not that hard to make your own website and theoretically reach most people in the world with it.
Nowadays it is hard to send any amount of money between countries. Just look at all the fees, people have to pay and still it is possible, that your funds get frozen. There is not much, you can do about that, besides meeting in person. Bitcoin on the other hand is cheap and can not be censored.
global (you can use it in every country and between countries)
internet (you can use it where ever there is a internet connection with every device, that can access the internet)
cash (money that is transferred peer-to-peer, so without a 3rd party, but that also means, that everyone is responsible for the security them self)
I think, a good way to describe what Bitcoin is supposed to be, is comparing it with the Internet. Before the internet it was really hard to spread any information. Media was in the hand of a few peoples. Nowadays everybody can just use Twitter/Facebook/blogs or if that doesn't work for some reason, it is not that hard to make your own website and theoretically reach most people in the world with it.
Nowadays it is hard to send any amount of money between countries. Just look at all the fees, people have to pay and still it is possible, that your funds get frozen. There is not much, you can do about that, besides meeting in person. Bitcoin on the other hand is cheap and can not be censored.
Purpose of bitcoin is financial freedom. No more huge transaction fees. No more freezing account funds. No more to trust third parties who come and go with our money. But currently bitcoin used to hold our savings as an investment. So, now a days purpose of bitcoin is to get a big fortune.
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.
Purpose? world peace.
I think it was some kind of experiment, trying at the same time to defy the established system. Even though its low adoption, I think it proved to be successful (since it has survived to a fierce opposition).
i still think that bitcoin is for all purposes is a decentralized technology with the power to repair a broken financial system.
but it is far away from that point, right now as it was before is just a speculation thing which people are using as an investment to earn a profit from the volatile price.
and unless we see any sort of mass adoption, and every place accepting it alongside credit cards it is going to stay this way.
but it is far away from that point, right now as it was before is just a speculation thing which people are using as an investment to earn a profit from the volatile price.
and unless we see any sort of mass adoption, and every place accepting it alongside credit cards it is going to stay this way.
Bitcoin is simply the best way to pass all restrictions on online payments like age and nationality and if I want to use bitcoin I can get dozens of bitcoin addresses in seconds but if I want to get one credit cards it is really a big deal
It gives me independence, which means financial freedom. I don't want to be a slave of government and corrupt banking system. I am my own bank. The purpose of Bitcoin is economical liberalism.
the main purpose is to free the world from banksters.
I think the goal of Bitcoin was a few things.
1. Knowledge, the amount of stuff that can be created with Bitcoin and actually use as a currency, is just simply incredible.
2. Quick and easy transactions for items on the internet, yes I know banks mostly do this now, but Bitcoin is slightly different.
3. Fun, I have had tons of fun with my Bitcoin experiments so far, I have had ups, downs and all around a pretty good time
1. Knowledge, the amount of stuff that can be created with Bitcoin and actually use as a currency, is just simply incredible.
2. Quick and easy transactions for items on the internet, yes I know banks mostly do this now, but Bitcoin is slightly different.
3. Fun, I have had tons of fun with my Bitcoin experiments so far, I have had ups, downs and all around a pretty good time
Bitcoin was created with recognizable characteristics of a star.
Its purpose is to shine as bright as it can, produce many goods and go Supernova when its mission is accomplished.
Its purpose is to shine as bright as it can, produce many goods and go Supernova when its mission is accomplished.
Purpose is another currency for people to trade with, and for people like us to invest it. It's the next generation of payment in my opinion. 
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