The reason behind creating Bitcoin. | Bitcointalksearch.org

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Quote from: qwertyup23 on December 02, 2020, 03:26:20 PM

Quote from: The-Devil on January 07, 2020, 08:03:21 AM

Decentralization and free of control from any third-party institutions.

The creation of the blockchain technology gave birth to bitcoin which serves as a currency which cannot be altered or modified. Imagine this scenario for its application in real-life: you are in a supermarket and you see an orange for sale. After going to the counter, the barcode was scanned and you saw its price together with all the modifications/processes done to it. This information posted cannot be altered since the blocks are being checked every single minute on the transaction.

The birth of bitcoin is one of the revolutionary technology which has the potential of MAYBE(?) replacing the modern fiat currency in the fat future.

No please. Blockchain technology does not exist! Blockchain was not even mentioned in the bitcoin white paper but rather satoshi described that "The network timestamps transactions by hashing them into an ongoing chain ofhash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work."
Try to find any mention of blockchain technology in the whitepaper...

qwertyup23

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Quote from: The-Devil on January 07, 2020, 08:03:21 AM

Decentralization and free of control from any third-party institutions.

The creation of the blockchain technology gave birth to bitcoin which serves as a currency which cannot be altered or modified. Imagine this scenario for its application in real-life: you are in a supermarket and you see an orange for sale. After going to the counter, the barcode was scanned and you saw its price together with all the modifications/processes done to it. This information posted cannot be altered since the blocks are being checked every single minute on the transaction.

The birth of bitcoin is one of the revolutionary technology which has the potential of MAYBE(?) replacing the modern fiat currency in the fat future.

Renampun

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Quote from: VivGaming on November 11, 2020, 12:45:17 PM

There is no specific reason behind this but one thing is sure Satoshi want some better security and indepence so he done this all for us now thousands of member in this community can go through just because of this bitcoin and achivement their targets just because of bitcoin otherwise we have many serious issues with other financial institutes and their policies.

I once read an article that actually Bitcoin was only famous among gamers...
correct or not please correct me; *satoshi consciously created Bitcoin just to make transactions between gamers easier. btw, I never really thought hard about what satoshi's goal was to create Bitcoin, which I know Bitcoin is a future decentralized asset that will be very valuable and independent.

angrynerd88

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We all make botches and we are all driven by sentiments checking enthusiasm and torment.Bitcoin is also came from different experiences, A number of people are dried for control fundamentally due to the loathsome instruction they've gotten when they were little. I do acknowledge that Bitcoin has been made with the more essential extraordinary in judgment skills. From any angle Bitcoin is the coherent choice and another pass to make inside the start of a show day period driven by advancement movements.

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There is no specific reason behind this but one thing is sure Satoshi want some better security and indepence so he done this all for us now thousands of member in this community can go through just because of this bitcoin and achivement their targets just because of bitcoin otherwise we have many serious issues with other financial institutes and their policies.

GeorgeJohn

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Bitcoin is achievement

Although from my views, I captured that bitcoin is been created to help world entirely, most especially economy of a countries because adventuring into bitcoin with funds it will really render help to speed up some countries revenue, because it's decentralized currency formats and know one come in control of it increments and downfall, so satoshi really contributed immensely into a source government can develop with easier form.
Even individuals who are transacting with cryptocurrency especially bitcoin make a lot of profit via trading while using a smaller amount of money to adventure into it, provided that government make provision of finance for trading on behalf of her country via trading, I hope such country won't cry for economy crisis or downfall.

Hasmizara

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Bitcoin's journey began the year after the global financial crisis of 2008 The digital currency was introduced by capitalizing on the cracks in people's faith in the current monetary system due to the recession. But there are many secrets that no one knows. the creation of Bitcoin has created a stir all over the world in the case of decentralized exchanges people can transact very easily and now this crypto market is further improved through blockchain technology. Although Satoshi Nakamoto is the father of Bitcoin no one is able to tell the real secret.

Sapphire915

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Whatever the real reasons of Satoshi in creating bitcoin, for me its loud and clear that the purpose of his awesome creation is to give the people around the world a much easier life and the financial freedom as often mentioned by others here. We will be forever grateful for this smart and brilliant creation that gives us more earnings/profits beyond our expectations. And I strongly believe that the trend and popularity of this great digital currency will grow more stronger and widely used across the globe.

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I lived the first days of bitcoin.
The true reason is stated in the first mined blocks.
As a one the first few thousand users ever, i used it for fun and payments. (donations, faucets, subscriptions).
Many of my solo-minted bitcoins are lost forever (donated, or wallets created just to do some tests).
Back in the day, the community had to defend against 51% attacks and many tried to read and improve the code. (i remember setting up a computer farm just to defend the chain while staying up with a friend doing diagrams of the blocks)
I really like blockchain and i do think it's something that will mark the 21st century.
On the other hand, seeing fund-managers and multi-billionaires cheering for bitcoin causes me nausea.
Many (myself included) never accepted the status quo of our era, usage of our own money through our own payment system was a way out. No-one ever intended to ease corporations.
As years pass by, I question many things and at this time I have concluded that shrinking supply is unfair for new generations (first come first served is not optimal).
New "boomers" want to dominate the digital space by the "I was born first" or even worse "I have more currency" right.
That's not what shatoshi envisioned (digital and private cash).
So, to sum up the whole creation was a movement from the people, for the people, through the people in the face of central banking establishment.
Blockchain, as bitcoin showed us all, should free ourselves from the central bankers’ policies.
Love it, share it, improve it...

farrellronald

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creation of Bitcoin, by the nakamoto, was something that changed the whole world. the thing that i like about bitcoin is how they didn't got disappointed at first continues their work for 3 years until they found their first customer.
however i would really like to understand why he created such a perfect coding. that is the mystery of the world

Smartprofit

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There are different versions of why Satoshi Nakamoto created Bitcoin.

According to one version, Bitcoin is a virus for the modern financial system. Bitcoin is deflationary money. This money can destroy the modern financial system (which is essentially an inflationary system).

A witty description of the possible consequences of such a virus:

https://www.reddit.com/r/Bitcoin/comments/1lfobc/i_am_a_timetraveler_from_the_future_here_to_beg/

We don't know who Satoshi Nakamoto is. His real identity has remained unknown.

However, is it possible that Satoshi was a professional hacker? Then, is Bitcoin the most advanced computer virus in the world?

This assumption is just fantasy. "Game of the mind". Don't take it too seriously. Cool

proTECH77

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The creator of bitcoin truly study the world economy very well to discovered that such currency will help humanity positively in the world.
Bitcoin is almost legalized in all countries of the world which citizens are using it to grow their business and other family issue. many government are encouraging their youths to engage their self in bitcoin investment and other cryptocurrency business.
Satoshi Nakamoto really believe in his research that if such digital currency is create in the world,it will help some countries to grow their economy to be more surplus to the people and also reduce unemployment in the world. Many who loss their job during pandemic thinking all hope is loss until someone impact them about bitcoin how to use it to invest and make a good profit.
I think the reason why Satoshi Nakamoto created bitcoin is to help the world fight unemployment in the world.

ichi

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BTC was proposed to be mechanized cash. Its features at any rate are essentially suggested for the control of the central force and I gather Satoshi was one of the people that were taken a stab at during the 2008 financial mishap that is the explanation he conveyed it. Probably to shield the mishap from rehashing because it wasn't just the primary event when that happened.

tanjiran

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Quote from: Debonaire217 on October 27, 2020, 10:34:11 AM

Or maybe, Bitcoin was really meant to be created because of the advancement of technology.

besides that, the times have also increased human needs. the problems in the financial system also contributed to this revolution. so this is the accumulation of many things so that new innovations for efficiency are created in accordance with technological advances and human needs.
well, there are definitely advantages and disadvantages. be wise in addressing this because no system is truly perfect. take advantage of the opportunities that exist in crypto as best as possible, adjusting to your individual needs.

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The Standard Protocol - Solving Inflation

Quote from: The-Devil on January 07, 2020, 08:03:21 AM

In 2008, there was a huge economic catastrophe in the world. Some banks conspired and deliberately caused this economic disaster. This is why many people were financially disadvantaged and lost their trust in the bank. I think Satoshi made bitcoin to save people from this disaster. That is, Satoshi has created a currency where there is no third party. There will be no central bank. No one can control it. Customer to customer transactions can be done. While Bitcoin has no controller, no one will be able to intentionally disrupt its finances. Bitcoin introduced a new horizon to the world's economy and freed people from this economic catastrophe.

So I think this is why Bitcoin was created. Is that the only reason? Or are there more reasons? What is your opinion?

Yes, you're absolutely right. Bitcoin was created to be decentralized currency free from the control of banks or any third party.
Bitcoin was also created to provide its users with anonymity, transparency, anti-fraud and quick transaction time.
Just like many have mentioned already, I believe the reasons bitcoin was made are the benefits that we now enjoy.
I'm sure you'd agree with me that one of the disadvantages of banks is the slow transaction time. It takes days, sometimes weeks, to send money from one country to the other. Something that is now possible in minutes, if not seconds, sending bitcoin.
Anonymity is another advantage we enjoy. Transactions now do not need personal details to be successful. What is needed is simply the bitcoin address and all is done.

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https://bitcointalk.org/index.php?topic=5274318.0

We need fo ask satoshi about that.
Any background story could be possible to be the reason why bitcoin was born in 2008.
Even a conspiracy theory, new world order, can fits this question.
However, one sure thing is bitcoin was born to be a peer to peer electronic cash system (bitcoin wp title).

Quote

BITCOIN WP - ABSTRACT
A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

imstillthebest

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Quote from: Harrison chinoye on October 28, 2020, 12:17:47 PM

i believe Satoshi Nakamoto wanted to create a “trust-less” cash system. Satoshi explicitly stated that the reason for creating this digital cash system is to remove the third party intermediaries that are traditionally required to conduct digital monetary transfers.

It should be trust ted not trust less because millions of people trust btc and if it's labled as trust less no people will be curious to use it . Middle men is removed but people that use btc and are scared to transact big funds from a P2P market , they are still looking for trusted escrow before they make the transaction to the other people.

Quote from: maldini on October 28, 2020, 12:15:21 AM

BTC was intended to be a computerized money. Its highlights anyway are simply implied for the control of focal power and I surmise Satoshi was one of the individuals that were tried during the 2008 monetary accident that is the reason he delivered it. Presumably to keep the accident from repeating again on the grounds that it wasn't only the first occasion when that it occurred.

nice facts but nothing have changed , btc was still a computerized or a digital money or you mean to say that people use it not as money but as a money making machine ? There are

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Quote from: Asmonist on January 07, 2020, 09:24:24 AM

I still believe its part of having a financial evolution. But of course those reasons really matter. All the flaws and customer satisfaction issues are some of the factors as well. Many people will definitely looking forward for a better experience. As the world progresses and so with the technology, the financial market as well. Going digital is not possible for financial market without bitcoin and crypto currencies.

This is a very informative answer and would like to impart it as my knowledge to when people ask me about why Bitcoin was created. Its a logical answer since it evolves our financial system into a better one and its being utilized greatly in this time. It also tackles some of the flaws that physical money cannot do before.

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