Topic: The reason behind creating Bitcoin. - page 3. (Read 1330 times)

Well, saying bitcoin as a new revolution for the economy seems like something too big because bitcoin is probably a quick payment method but it's still not fast enough compared to other payment methods, it even takes more time to confirm, plus the loss of control from it, the government has refused to apply bitcoin to the economy. Therefore, the reason behind creating bitcoin is probably an investment idea, creating a world without too many rules, a market where people can optimize making money without the government

Actually there is, if you have already read the white paper of Satoshi upon creating bitcoin, you could see that it is a peer to peer network to allow people to transact even without the need of anything, anyone, or any entity. Though, we are in a continues phase of development, we are continuously discovering reasons why bitcoin is created because of the fact that we, at the same time discovers function of bitcoin that aren't stated within the white paper. One example of it is for investment and trading that provides profits.

Banks have now been technically developed giving the ease of easy money transfer, etc but I do not think in the year 2008/2009 banks might have been this advanced which really caused a lot hectic in terms of money transfer of accepting over nation boundary payments. Banks might seem convenient for transactions between the borderlines but what above nations? Bitcoins have no such restrictions and this might be one of the major concept satoshi might have though before creating bitcoins.

Satoshi never wanted us to have any restrictions while using our own money and also it does never ask for us to pay any taxes so it goes way lot convenient for peoples who technically understand and transact with digital currencies.

There is no specific reason stated by Satoshi why Bitcoin was created by now it serves many purposes as a store of value, decentralized payment and can as well be a tool that can be used for the bailout in the current financial status. Its usages are still undermined, for now, most especially blockchain technology, but the future will tell

It might be a reason behind the creation of bitcoin but we will not know the exact reason until and unless satoshi is found and asked about it. Though it is not possible. I think, satoshi might even have created bitcoins to create a currency for anonymous peer-to-peer payments without involving any third party and that might be the reason why bitcoins are been used in most of the illegal activities carried out.

Actually speaking, i do not really think satoshi might even have considered thinking about banks before he created bitcoins. He created bitcoins to overtake banks. He might also have not thought that bitcoins will get such precious in the coming future with the huge price growth.

Virtual secure decentralized money has been a long sought dream, there were various attempts before, some of which ideas were used as building blocks for Bitcoin. 2008 happened but I'm willing to bet that was coincidence. Besides under the dominant school of economy, another 2008 will occur.

The financial freedom dream was only possible for the minority that trusted the project at its earliest stage, it is no longer the case, you can no longer buy bitcoin and live of it. You could in 2010 if you bought and waited (some people couldn't wait and sold). But you can no longer do the same now. While bitcoin does not lose purchasing power, it doesn't increase "itself" as much as to provide a means of living.

Its still a good coin, and keeping your savings in Bitcoin ensures your wealth won't disappear overnight, no matter what happens to the world (in the inevitable next bubble pop).

You don't have to be a genius to know the next one will come because the current system of debt, credit expansion and fractional reserve ensures it comes. The Austrians (Mises et al) have have been telling us for a century, they even predicted the crash of 29. And yet the fools still pay attention to the Chicago school, because its great for short term, and politicians are always about short term profit, lets pass the bomb to the next fool...

In my opinion the bitcoin is a new revolution for economy because it is a crypto currency so the transaction will be fast and you can do it from home plus it is decentralized so it is not controlled by any party and it help simple people investing their money and it is a great contribution to economy.

2008 financial crisis was fiat baby child and was solved by fiat. Bitcoin was launched in those days but it didn’t help in eliminating that crisis. Motivation of Wright brothers was not to create today’s deadly fighter planes, like wise I think Satoshi might be working on this project to create a financial system that can help in p2p funds transfer.

I share your point of view and add that it seems to me a more economical and simple way to migrate currencies to any country in a matter of 30 minutes, I also like that it is much more anonymous. It does not require identification that compromises user privacy. It is deflationary, many billionaires give advice on how to achieve an empire and all converge on a key point: Invest in something that takes upward value, such as noble metals such as gold, maybe diamonds, but this can be done with the bitcoin without worrying about the details of investing in goods (does not mean you should not do it too)

every opinion on this one will be count in because satoshi never mentioned any specific reason why he create this ,either to really help people or to help himself who would know?

but as far as this is helping us and we are benefiting from crypto,let us be thankful for what he did and gives us.

I think it isn't important anymore whatever Satoshi's reason behind creating BTC.
Satoshi didn't also give us a reason why he/she create it and it wouldn't change a thing even if we find a reason why it was created so why bother finding out?

It is also possible that Satoshi Nakamoto was one of the victims of the economic disaster, so Satoshi decided to make bitcoin in anticipation of where the economic crisis occurred again. but surely, with the development of digital technology as it is today, people must have their own opinions, and in essence, bitcoin has helped many people to gain financial freedom. we as lovers of bitcoin, help bitcoin to be accepted throughout the world as a digital currency that is suitable for use wherever and whenever.

The reason why bitcoin is created, for me it is not important that much, what more important is, I can manage my own account in my wallet. And if you are right that satoshi created bitcoin so that there is no 3rd party then maybe that is one of the reason as well as others thought reason. If ever or whatever it is, as long as I can use my bitcoin and uses it a lot for convenient then it's already fine with me.

Yes, that could be one reason. Outdated, monotonous systems do need to be improved. Just as nature and the earth evolved, economics and technology can also experience it. And Satoshi as the initiator of all of this, the highest appreciation. Economic independence for individuals, without any third party intervention, with a new and safe system, is a pretty good offer, although there is a risky side due to high volatility and unrecognized regulations. We just need to take advantage of good opportunities, don't think too much about what's not important.

This is really a dangerous perception about the reason you use bitcoin as it is a transparent coin and you will get into trouble if you are dealing with illegal goods in your country as you can be monitored and why mess up your life, i am sure the market will get rid of the illegal market when regulations sets in and the market is so transparent that everything can be monitored and can be attached to you at a later time. The purpose of the creation is simple, to have a decentralized market away from government manipulation.

I don’t think Bitcoin can solve financial problem of the world, as its never meant for Banks and other centralized financial institutes. From very start Banks do not like this payment system and have opposed it. Whatever the motivation was, the good that benefit every user of bitcoin is the peer to peer money transfer. You can transfer without any intermeditory and at any time.

Fortunately you can skip LN altogether. If you don't like it, don't use it. Its optional and i don't think most should ever use it anyway. Most payments don't have to be "instant", you can pay in advance, or buy online and wait confirmation. Wire transfer always takes longer.

The 21 million cap is what ensures the coin will keep its purchasing power overtime, unlike fiat money which always loses it. With this type of money, Central Banks are no longer needed, since fractional reserve bank practices should not be protected and people using banks becomes optional as well.

Bitcoin is the liberation of money from the State. In fact Bitcoin is free from the world economy altogether, unlike the fiats chained to the economies of the countries they represent.

Bitcoin was created for banking failures in managing the world economy.
That is where the idea of bitcoin emerged that almost all sectors have advantages compared to the system offered by banks.
Including transaction time, private transactions, can not be interfered by anyone, and also the convenience to be owned by everyone.

You reason for the creation of Bitcoin is valid but i believe there are more reasons why satoshi created Bitcoin. Beside trying to create a boarderless currency with no central bank control, the speed and flawlessness of transactions made through blockchain i think was also considered. Whatever the reasons might be, Bitcoin is here to stay and make great impact in the financial space

In price yes bitcoin holder can be affected for every news eighter bad or good news. But to hold your own money without the help of any 3rdparty like bank is the way bitcoin holders like it,They are prefer to price volatility and of course hoping to also earn.