Topic: The reason behind creating Bitcoin. - page 5. (Read 1330 times)

I am a little bit curious also on how satoshi develop bitcoin and what is his/their goal in developing it. As what you have mentioned, there is a big chance that it is true but I am sure that his/their intention in developing it is much deeper from your reasoning.

I love to really hear if in case satoshi leaves a note regarding on why he created bitcoin, is it to disrupt the banking system or he/they have certain goal from it. Did someone tell him to create it or is it funded by a government or a powerful organization then leave the team behind it as anonymous to make use of this opportunity.

bitcoin and blcockhain technology have become a new breakthrough in our economic system. and I agree with you that Satoshi's main goal in creating bitcoin is to save us from the catastrophic global economic crisis caused by the banking system. and gives us freedom in managing and managing our money. and makes it easier for us to transact between countries in the world.

Several statements were put forth by people stating the cause for the existence of bitcoin. However this has served the people,and continues to make a big difference in the economic development and usage access. When it was created the vision might be small,but as days go the opposition from banking industry and governments portrayed how valuable and effective is the creation of Satoshi.

The reason bitcoin is made is that only the creator knows the answer for sure, and maybe the creator would never have thought it could be this big, because the use of bitcoin now varies according to the needs of each individual.
For me personally this is a good investment tool for the long term.

All of us don't know the main reason of Satosh why he/she make and develop bitcoin because at the first place we even don't know why he/she invented it because we don't know who satoshi and what the intention he wants. We don't have any chance to ask questions to him or her because no people says that they know who satoshi is. Maybe the faster transaction and less hassle transaction is one of the main reason why satoshi and his team invent or create bitcoin, for the people to use digital currency, and another reason behind it is maybe he knows that through the continues evolving of the world and technology they will already now that this thing will happen.

Satoshi started working on Bitcoin long before the crisis started, so either he was a genius analyst who foresaw that event, or he had other reasons. I believe in the latter, not because I doubt Satoshi, but because I think it's more plausible - there were many attempts to create decentralized money using cryptography, so it's more of a coincidence that the first truly successful implementation was launched during a global economic crisis.

no one knows for sure the reason behind making bitcoin, only Satoshi and his crew know, but in my opinion there are many reasons behind making bitcoin, one of which is the speed and transaction costs, and freedom over our own assets.

In fact, by implementing the LN, aren't they implementing a system similar to the one used by banks to settle their payments between different parties?

I think the reason to create Bitcoin was clearly described in the introduction of Bitcoin whitepaper.
By creating Bitcoin that can be transferred from one person to another person, we don't need the third party anymore.  
This can minimize transaction costs, more efficient time, and more secure to the users.

*BTC WP: https://bitcoin.org/bitcoin.pdf

If we agree on something, it is that Bitcoin was created due to the serious financial problem that people have. Bitcoin tries to cover the needs of the community, and especially its security and time, because we should not wait for intermediaries, all we can have in a matter of seconds and it is within our reach, is economic freedom. It has been an interesting and very useful creation, because most people prefer to get and pay in Bitcoin.

I think you really need to go back and read the whitepaper of Bitcoin because the main reason why Satoshi created bitcoin was to design a peer to peer digital form of payment that people can use in their daily transactions. However, this dream seems far fetched now as most people prefer to holding bitcoin as assets to grow their wealth.

We can’t say the real reason but I think its really about doing transactions outside the bank and outside the government restrictions. Satoshi succeed on this one as we can see right now and for me Satoshi believes on having a faster transactions. The financial crisis might trigger Satoshi to create great system, still thankful to him.

I think bitcoin was created because there is a problem with printed money. No one really has a control over how much money is out there. And governments know it and banks know it too. Satoshi comes with the solution of limited money and a tracking system. It was a great solution for the current problem and if satoshi was right, then in the future all money will be based in cryptos.

If you think that bitcoin was created simply because there was a global recession then you are mistaken, he should have decided to come up with a solution long back and the recession might have hit at the right time during the period of the bitcoin white paper release as this is not a technology that anyone can come up in a single day.

Also it was to use or send money without using a government fiat currency. Or even just a way to store money without burying fiat currency that loses value or storing in a bank.

Close but not quite there.

This is true. It doesn't matter what Satoshi's intentions were, fact is that its useful to us now, and this is reflected in the market price. If something is useful to you, you value it regardless of what it cost to produce. If the coin was useless people wouldn't wan't it. Turns out, it is useful for enough people that holds it that it gets that price you see in the free market.

Some people don't understand this. They don't believe in the free market, they want the State or someone else to decode what the thing should cost. This is of course an illusion, that builds pressure and eventually pops. A small group of people cannot replace the free market, its ability to produce information, real time and scale and adapt endlessly and simultaneously. Not even mighty computers can, even if some theories imply that AI may approximate it. You could think the free market is a sort of hive mind.

Any time the State or a private entity attempts to intervene this, it messes the flow of information and produce distortion that ultimately always ends in a worse result than leaving it alone. I mean things like "stable" coins or "self" imposed rules that should never belong into a coin (ie. who can and cannot use it, reverse transactions etc).

Its a coin. The gov can't touch it, the rich ones can't touch it, Satoshi can't touch it, all they can do is the same as everybody else, under the very same rules: Mine them (for a limited time), buy them, sell them, ignore them, their freedom. That's the beauty of it, and it's borderless too...

Indeed, Satoshi Nakamoto, or so he is well known of, saw the huge flaws of fiat currency and how it was being abused by centralised banks for their own good. This spark an inspiration on him to create a coin that's decentralised yet secure so customer to customer transactions can be done without an issue, he also made it safe to use in order to ensure the welfare of the common people. Thsi gave rise to bitcoin.

I think it's not like that because I've read something before that Satoshi is tired of the repeated situations of the banking industry. Where people have no freedom to use or save their own money specially in the USA where most people are living with a lot of debt in exchange of their healthy living.
I think Satoshi really want to change that idea where people doesn't have to rely too much on the banking system of the government. And that's why bitcoin is being created.

To date, no one can be sure who Satoshi Nakamoto is. So we can only speculate about him and why he created bitcoin.
However, I think bitcoin was created because Satoshi Nakamoto was bored with the current financial system and he wanted something to break all the rules and give people the right to decide.