Reason for the existence of Bitcoin? - page 2.

BlackBoss_

sr. member

Activity: 602

Merit: 387

Rollbit is for you. Take $RLB token!

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

I was really taking my time asking myself what is the purpose for bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

Satoshi Nakamoto does not know how Bitcoin will grow and how it will end or be lively forever. Let's read his stance on this matter years ago before he left the forum.

Quote from: satoshi on February 14, 2010, 10:52:23 AM

Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.

Nobody knows at in 2009, 2010 but now 14 years since 2009, I have stronger belief that Bitcoin won't die.

If you want to be more knowledgeable then more bullish about Bitcoin, let's read The bullish case for Bitcoin

sheenshane

legendary

Activity: 2520

Merit: 1233

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

I was really taking my time asking myself what is the purpose for bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

Learn how to read Bitcoin's Whitepaper, everything was stated there the purpose of Bitcoin creation.
If you can see the whitepaper suggests that Bitcoin was created to address some of the flaws in traditional financial systems, such as the high costs and long transaction times associated with traditional banking systems. Bitcoin is designed to be decentralized, meaning that it operates without a central authority, like a government or a bank, controlling it and this decentralization makes it resistant to censorship and interference from third parties. I hope you better understand this.

Anyone with an internet connection can participate in the Bitcoin network, buy and sell Bitcoin, and use it as a means of payment which is the mean core upon the creation.

BitMaxz

legendary

Activity: 3472

Merit: 3217

Playbet.io - Crypto Casino and Sportsbook

The purpose of Bitcoin's existence is to provide a decentralized and secure alternative to local currencies which is centralized.
The good thing about decentralized is that we can send and receive money peer to peer without a 3rd party such as banks.
Satoshi is aiming to create a digital currency secure and transparent because they value privacy.

The main purpose of Bitcoin's existence is decentralization to make sure no one can control or manipulate Bitcoin, unlike local currencies which are controlled by the government and central banks.

hatshepsut93

legendary

Activity: 3038

Merit: 2162

Cryptography and Internet enthusiasts have been trying to create a decentralized digital currency since the 90s. Those attempts had flaws and didn't get much traction, many even remained purely theoretical. But Satoshi built on their experience and used his innovation to create the first working decentralized electronic currency.

The people who wanted such currency dreamed about transferring money without restrictions, without interference.

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

did he specify they category of people that are going to per-take on bitcoin!!?

Bitcoin is for everyone it does not discriminate, it cannot discriminate.

CageMabok

hero member

Activity: 1050

Merit: 844

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

I was really taking my time asking myself what is the purpose for bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

When you ask yourself, what answers have you found for that simple question?
Although I don't read that SATOSHI NAKAMOTO ever stated anything when he created Bitcoin and determined the category of people who would get it. Because I only read the general purpose of Bitcoin itself where Bitcoin was created in 2009 in the middle of an economic recession. Bitcoin was created to be a peer-to-peer electronic cash system, but it has also attracted investors who are attracted to cryptocurrencies as a store of value currency, comparable to gold. Quoting Time.com

Bitcoin_Arena

copper member

Activity: 2128

Merit: 1814

฿itcoin for all, All for ฿itcoin.

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

Are you looking for an alternative electronic payment system that is borderless and can not be censored?
Do you hate using third parties in your electronic payments?
Are a fan of peer to peer payment deals?
Do you hate Government monitoring and blocking your transactions?

Then Bitcoin is for you

Please Read the white paper!

Saisher

full member

Activity: 2324

Merit: 175

Quote from: Sakanwa on February 27, 2023, 05:43:25 PM

I was really taking my time asking myself what is the purpose for bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

Unfortunately for you, you forgot to read and understand Bitcoin's whitepaper, you just need to go back and read it to understand and all your questions will be answered, the whitepaper is very important and it sums up everything about the purpose of Bitcoin and what it tries to accomplish

Quote

Satoshi Nakamoto's original paper is still recommended reading for anyone studying how Bitcoin works. Choose which translation of the paper you want to read:

https://bitcoin.org/en/bitcoin-paper

Sakanwa

full member

Activity: 560

Merit: 141

★Bitvest.io★ Play Plinko or Invest!

I was really taking my time asking myself what is the purpose for bitcoin existence, Does SATOSHI NAKAMOTO really stated why he want to make bitcoin be in existence and did he specify they category of people that are going to per-take on bitcoin!!?

Topic: Reason for the existence of Bitcoin? - page 2. (Read 258 times)